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Sausage - Jezzac is under a new moniker and a long term holder on a free ride with his shares
Moaning about what?
aerial - it's because of the way you want to read it.
The Lind issue getting resolved is a huge milestone, we now need ILTL to take over and then demonstrate to the market that they can make the mining operations profitable, something we have failed catastrophically to manage to do since October 2017.
Alistair said it - it will take numbers to get us moving - it's not a negative, it's what is needed for us as investors to get the share price properly re-rated.
If we were still built on sentiment we'd be back at 0.06 / 60p plus after the RNS on Friday.
Rollinginit - I disagree, predominantly based upon the number of false starts we have had (Alistair's words) - we're no longer trusted by the market. He did an interesting podcast with Zak Mir back in August last year - it's worth a listen.
There have been numerous forecasts around production, contracts and sales and a litany of excuses as to our failure since we started washed coal production in October 2017.
It's hard facts and numbers the market needs now to properly re-rate us.
Cricket - You've used revenue figures based upon output and the sale price of a tonne of coal.
The key metric in all of this is profit.
The resolution of the Lind issue is a very important milestone.
We then need the ILTL handover which should happen next month. It's absolutely crucial that we have ILTL up and running at full capacity for when the six months of dry season kicks in. Our output figures will be different in the wet season to the dry season, so we need to be making big strides this year from April onwards.
The key then to a sustained rise in our share price is demonstration to the market that we are achieving sufficient sales to pay our administrative company outgoings and make a net profit.
Don't get me wrong, the positives are coming and we're going solidly in the right direction, but we still need some important parts of the jigsaw to slot into place before we properly re-rate and hold that rise.
Yes - that's allegedly called forward selling if I recall.....
If those are both sells of placing shares, that's over £20k profit on a c£170k investment (c12%?) - let me know where you can get that sort of return in a few days and I'll remortgage my properties
Our share has a historic habit of jumping up post placings and then dropping back. It's exactly why I have said on here several times before that my belief is a fair few of our IIs are actually de-risked in their holdings, and some possibly on a free ride.
This has been a traders dream for some time now. And of course if you're "in the know" there is very little risk on your investment.
Crystal - I don't trust them either and the signing of the CLF was a key reason I became very edgy about us as an investment. It's not called death spiral financing for nothing.
Lind have all our assets secured against the CLF - everything - and they continue to have a hold over those.
My preference would have been to pay them off and get rid of them, but I suspect the terms of the CLF don't allow us to easily do that.
Lind cannot lose, and they know that. If we fully turn this around from a profit perspective, they get paid and walk away with their money.
If we default, they can take everything.
The key milestone is we have resolved the disagreement. There is still some inherent risk there though as we're still tied into a CLF. We will mitigate that risk by first getting ILTL on site and then making sufficient profit to cover our admin costs each month. Then we don't need to dip into any of the placing money and that simply sits there gathering interest and paying off Lind in the process.
It's a very important milestone today.
It's a very important part of the jigsaw resolving Lind.
The placing we've been expecting for some time is done and out of the way.
We're making progress - that's the real positive.
Lol - "impotent bod"
Aerial - can you text Rufus and see if his male potency has returned since he resigned??!!
No wonder Alistair always seems so down in his interviews.
esquimo - it "could" be a different ball game.
The Lind and ILTL issues are critical factors for the BoD to get resolved ASAP going forward.
Then it's the easy job of us making a profit.....according to the last accounts our Admin costs are c£900k - that's £75k a month in gross profit from your coal sales just to break even.
Despite the trumpet of the strategic partner in November 2019, we're still no further on really and have burnt through a load of cash in the process.
Time is really not on our side.
adbon - you're right - August 2016
Agility - your shares are indeed worthless
5 years of constant ramping probably......
Seriously though, 1000 to 1 consolidation last week - you now have 170 shares
aerial - yes, let's try and rip off existing shareholders with an open offer at 0.12 and end up raising via a placing at mates rates to members of the BoD and institutional investors of 0.02.
There's a great way to build trust in your business!!
I'm assuming your post is tongue in cheek
The first whiff of our strategic partner was announced at the end of November 2019. That's almost 14months ago now and discussions were at an advanced stage then.
Covid has undoubtedly had an effect on the allocation of visas, but to the market this issue dragging on for so long comes across as more excuses and potential risk. Is it just the visas holding up handover?
I personally see the Lind issue on two levels - in its simplicity it's not an issue because the BoD has already negotiated a potential $1m loan with ILTL, which could be used as a stop gap.
However, because Lind have first dibs on our assets - they are all secured against the CLF, lock stock and barrel - this is where the inherent risk comes in. I'm not wholly convinced Lind has driven the consolidation. I suspect this has been done to allow the BoD a little more influence over discussions by having the ability to raise funds if needed. We were too near our nominal value before consolidation. That's never a good place to be if you want to raise money through issuing shares.
We need an update from the BoD - yes, they are undoubtedly working hard on things, but we're not demonstrating a huge amount of progress to the market, even accounting for Africa time. That's the bigger problem.
bennc7 - in theory it will dilute holdings by 1%, as we have 400million shares in issue as things stand.
I really wouldn't worry too much about it. GW
Aerial - I wouldn't quite call a spread of c20% an attractive prospect for potential investors. Look at the buy of 10k yesterday at 30p and the bid dropped shortly after to 23p.
MMs don't, yet, want the shares in any volume and they have made that clear over the last couple of days since we consolidated.
That suggests they are not interested in making a market, so what is really going on in the background that PIs aren't, as yet, party to. I suspect the placing that you mentioned several times at the end of last year?
Yes, there are less shares available but we still have 8million and a volume so far today of 16k which is about, what, 0.2%? Surely if MMs had any real desire for shares they would up the Bid and close the spread.
I can't see significant volume until we get an update and we know either way as to whether the consolidation has been a driver for a placing.
Teaye - in reality the weather makes no difference at the moment because we haven't handed the mine over.
But it could delay things further.
More importantly while we're in limbo we're burning cash and bringing in very little revenue.
Crystal - consolidation is never a good thing on AIM shares. Experience suggests it is simply a vehicle for rinse and repeat.
Yes, there will be those that argue it makes no difference as the MCap stays as is, but in reality consolidation just allows the share price to get chipped away at again, more shares issued, dilution etc etc.....and PIs lose.