George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
We certainly need to look at a group that seeks his removal at the AGM if the Chairman and Board haven’t done their job before then
Surely there must be some commercial news to report?
We need to pump that share price to manage the inevitable equity raise that is coming very soon…
Totally agree that everyone should join Andyken’s initiative.
It may not succeed but it’s definitely worth a try and we need another £500k of shares to make the claim possible. These directors need to be held accountable and it will be at no cost to us if get above the £1m. It may even encourage that useless waste of space LR to fall on his sword.
I would encourage everyone to participate.
Twix you said on 17 May Taiwan sale was close and seemed to have an inside scoop. Any further thoughts or feedback?
Debtors Davand my old chap
Great to see some commercial news at last and as said a vote of confidence in YGEN.
It makes you wonder though why now and why haven’t they announced more material news such as NIPT contracts. Very dodgy.
This will require some working capital investment though so a further drain on cash, which will pull forward the funding requirement. Hopefully that news is imminent.
Also a mistake recognised in demoting Dr Mason - thankfully no hard feelings on her part!
We need that Taiwan news urgently.
Impossible to know, could be just replacements
The silence on commercial news is deafening and our impotence as PIs is crushing.
I hope LR is at the AGM because I will certainly be there and fully intend to hold him to account - unlike the useless Board.
Although I can’t see how he will make it to the AGM without losing his job.
The mismanagement of this company is worthy of a Harvard case study. And they still haven’t learnt anything.
Just give us one bit of commercial news please - it’s all material when your market cap is £6m!
I think we are all on the verge of capitulation.
Someone needs to put us out of our misery.
Difficult to see how this is going to recover to anywhere near my average of 2.74p.
£30m revenue
Agreed - by my calculations we need at least £30m to break even at the operating level. We must be 3 years away from that right now.
LR has to go.
Then we’re fooked
Indeed, less than 0.5 x revenue and it will go even lower if we can’t sell Taiwan on reasonable terms.
By my calculations we need at least £3m more cash to get through FY24 and then probably another £2m the year after.
The buyers of Taiwan are no doubt driving a hard bargain knowing our precarious position. And what is it doing for our reputation and credibility with existing customers, prospective customers, suppliers, lenders, employees? Let alone us long-suffering shareholders.
A complete and utter mess.
We are all worried about the cash position and the inability to close the Taiwan deal. Nothing else matters right now.
We have enough cash probably until the end of August so we need the Taiwan sale by the end of June latest.
I guess the trouble is what the terms of the sale will be. 50% upfront and remainder for hitting milestones? How long will that last? What price for the asset?
There is just too much uncertainty about our ability to survive, which will relentlessly drive the share price down.
The only certainty is that Lyn Rees is an incompetent, untrustworthy CEO and has to go now.
Sorry - last sentence should be - Including COVID, growth for H2 Is negative.
How do you get 42% for H2 FY23 vs H1 FY23?
I make it 19% excluding covid ie (17.3-7.9)/7.9. I have assumed no COVID revenues in H2 so full year revenues excluding COVID are 17.3.
Including covid growth for is negative.
The longer they take to release the TU, along with the general absence of commercial news and the specific announcement of the Taiwan and strategic investor news, the more afraid we all become that things are not going well and another raise may be imminent.
They said in December they had enough money until Q2 2023 so perhaps they need some more now. It would be prudent to raise it now rather than wait until the last minute like last time.
This is so goddamn frustrating - I just can’t understand why we have had absolutely no commercial news whatsoever in nearly a year. What on earth have they been doing except screwing everything up?
What price for the strategic investment in this pile of ****?!! I’m not interested in that because we will be diluted to oblivion. It might have worked when the price was higher. I’d rather sell Taiwan even if the price is low.
What price for the Taiwan asset with China playing constant war games?
Decline may indicate TU is at lower end of expectations.
They need to release it this week without fail.
And confirm Loser Rees’s departure. Brendan Rogers and Graham Potter have gone for far less.