Member Info for HarChris

Ahhh that explains it! Still, quite the share price turnaround.

So are we talking a near 100 times turnaround from the low of $0.08 in 2022 to over $7 pre market or was there some sort of share price consolidation during the bankruptcy proceedings?

The point is they don't have the cash, yet, to go on a significant buyback spree or wake the market up with a mega attention grabbing Special Dividend because near term focus is on taking out the large Project Loan. They will have in three-six months from now and so we can be sure that something like that will take place later in 2024 if the share price hasn't righted itself.

Segun holds a lot of stock, he has every incentive to maximise shareholder returns.

I agree but why the rush? The focus for the first half of 2024 is on aggressive debt reduction, that's why cash as of the end of March was low and even with mega profits in Q2 will probably still be fairly low.

After that there's no way Segun just sits on $25m cash per quarter if the SP is still so deflated so give it another 3 months or so and I'm sure action will be taken if the market hasn't corrected by itself...

I assume they’ll be a TVR rns when it’s all complete and then it will be updated on other platforms

Roger isn't the market cap much higher than that now?

'It is expected that Admission of the Conditional Placing Shares, the Open Offer Shares and the REX Offer Shares will become effective at 8.00 a.m. on 3 June 2024. Following Admission, the Company will have 543,141,481 Ordinary Shares of 1.5p in issue each with equal voting rights. No shares are held in treasury. '

So £8.15m valuation at 1.5p?

Well mid next week it will be revealed that Argo's revenues have collapsed to ~$3.75m a week after a bit of debate on here previously about the effect the halving will actually have (fees/difficulty etc).

This bb is jam packed with people who's views won't shift now no matter what the news but a few of us offer balance!

For me today's news is unequivocally good, no question about it. Does it change my overall view that TGR is destined to fail under Shishir and there's no way out of this mess? Ermm not exactly but it does certainly soften it and at least makes it clear that an experienced head like Michael obviously thinks a turnaround is achievable.

It wasn't quite enough to get me to press the buy button this morning as the state of the finances hasn't changed and that is still a major hurdle to navigate but this should give all holders here a big lift today.

I hope Segun will be thinking about special dividends well before the end of Segilola mine life, it would be good to hear him say something along the lines of 'if shareholders see no return from share price appreciation through 2024 then they will certainly see it through a dividend'

Once the debt is all paid off options are going to open up dramatically... just got to be patient til H2.

It has passed comfortably - just waiting for rns confirmation

Whilst it hasn’t yet translated into high local prices it’s a big plus that international prices remain so strong:

https://tradingeconomics.com/commodity/palm-oil

As I'm forced to repeat a million times they were a ~£100m company prior to covid with just a few million quid in cash. There is obviously big potential for their tech and products if it can be successfully exploited and so yes there *is* an investment case to put forward for those that want to give LR a second chance even if it's not one that you're sold on personally.

Another quiet day at work again?

A pandemic would give all diagnostics companies a sentiment and share price boost even if they don't end up selling anything but let's not rely on / hope for something so grossly awful to happen.

The investment case is centred on a fully funded YG now and if the dispute is won by Novacyt then further M&A in the years ahead.

The only negative one could muster here is that TGR have managed to attract decent candidates to non exec positions before... they just failed to retain them for more than a handful of months!

And that's it. This is positive news.

'Avacta have said no TO but hoping to start licensing further products starting 2H25.'

Actually Christina said 'everything is on the table'

''Good old LR he loves to destroy value. And the communication is so poor. Why can’t they give us an idea of 2024 EBITDA? They’ve had long enough.''

This is quite a funny take to blame the 2023 results on a man that took over the company on May 1st 2024.

Probably most significant of all was timing. Novacyt was clearly going nowhere and was just a cash shell without this acquisition, waiting for YG to enter administration would be not only cynical but also probably another lost year doing nothing. At least this way there's been the acquisition, there's been the integration period and there's been the key board changes all before the dispute outcome is announced meaning there's an actual business now at the other end of this sorry saga.

LR would have had no relationship with Novacyt, this isn't like primary school football where you're picking people for your team.

It's feasible that Novacyt could have acquired some of the assets and could have reached out to Lyn and Joanne and others to join Novacyt... it's also possible that Novacyt would have been able to buy the company out of administration for half the price but it's a much more complicated process and the whole business will have been disturbed / setback as the administration process takes place.

This will be seen as a middle ground where the company still acquired YG below book value and well below potential future value as well as keeping many skilled workers in jobs. Who knows, perhaps it will be emphasised at trial just how many people will be made redundant if the judge upholds the DHSCs claim?

Novacyt are not reliant on further funds from winning the case so is there's an appeal and delay it doesn't really change anything if it ends up taking months, even a year or two to receive it. Cash burn, especially as m&a is not a focus, should exceed three years with the cost cutting measures and that's the time in which Novacyt need to reach profitability.

All extra cash does is derisk the investment further / open up M&A options.

No Ventura it's far more complicated than that. Most likely the creditors would have been given first dibs on the assets as their form of payment and the whole process would have taken months if not years.

Don't forget when they were valued at £90m they also had significant liabilities, that's par for the course. Usually acquirers will just take on that debt themselves but Novacyt had cash that wasn't spoken for so chose to just write it all off.

There's also the added element of seeing it as a reverse takeover of sorts with it being a solution to the long running issue of finding a new executive team. That wouldn't have been the case if they'd got hold of some of the assets via administration.