Member Info for Hemo

Would be nice to see some director buying now but I guess they may not be able to buy if negotiations are ongoing with ILL and TF. Although I have little sympathy for them some of the directors are well under water on the shares they bought in the 2015 placing and Barry Hextall bought at 18p. Hindsight is a wonderful thing but we should have settled and I agree with Twix that the positions of some of the directors look untenable given the verdict.

What the hell do I know, price is up 14%! I give up!

Yes positive but I can’t see it driving the price much higher, it is as you say largely symbolic. It’s great the judgment affects only operations in the UK but could they extend their claims against us to the EU? Haven’t they done that with other customers like Genoma and Centrum Baden? Or are they concerned about antagonizing the EU Commission? Or do they just go after our customers? What does that mean for the large laboratory group we signed up in the EU? Out of interest and I think it has been raised before, how long are Illumina’s patents valid in the UK? They are pretty old and I thought parents lasted only 10 years? Sorry for all the questions but as we all know there are so many more than answers!

So would it have been TF that stopped us from settling with Illumina? I hate speculation but I wonder if there may have been an agreement that if the court case went against us TF would bail us out?! That would be interesting.

Thanks flipper all great points that indicate possibilities going forwards and I agree we need a quick resolution on this given the uncertainty and scale of the potential liabilities. Good luck to all who continue to hold.

They rightly cared about us infringing their patents but do they care if TF buy us out other than TF will have the pockets to continue the fight and will ensure Premaitha survive in other territories? I guess they probably do. I suppose at the end of the day TF will want Premaitha to survive so we can continue to sell in other parts of the world. On that basis alone they will either have to fund us through this or buy us out and I have to say I favour the latter. The interesting point as raised by others is could we switch to Illumina because this would be another incentive for TF to buy us and for IL to pursue us? Does anyone know if this is technically possible?

Sounds reasonable Bakky but you cannot ignore the case as you show in deducting costs from your valuation! We are practically worthless and at the mercy of TF. We cannot survive without the generosity of TF because we do not have enough money to pay IL’s legal costs and any damages. I think I am in one of the stages of grief, not sure which but it’s not anger it’s becoming acceptance! We have played this badly, gambled and lost.

I just cannot see any reason for Illumina to settle or come to any compromise with us from this position of incredible strength, other than to avoid us being bought out by TF. And would they care about that given their latest victory and their size?

I think our only option is a sale to TF but I am under no illusion they will do this on favorable terms. They have their own interests to look after. They will have to pay to buy us out and take on our legal and other liabilities. I can’t see Illumina doing anything else other than keeping their foot on our throat and slowly but surely suffocating us. What incentive is there for them when in all likelihood we will perish or be bought out by TF? We need to raise funds and quickly and I think the only way to guarantee the survival of the company is to sell to TF. I hope they do it quickly or this will be death by a thousand cuts.

Let’s also not forget we have a fourth patent claim to defend. I am losing the faith slowly but surely.

Where are you hearing that? What is the basis?

Yes...jinx! Now let’s sue those fu$&ers!

Who gave us the freedom to operate advice outlined in the listing prospectus? Can't we sue them for their error and its impact?

Flipper Could you outline for us what you think the options are please? How can we survive if we have to pay costs and damages? It seems impossible to me. Can existing shareholders get anything back if they don't sell now? Many thanks on a truly sad and gutting day.

Just listened to both podcasts and feel reassured that we are on track. I can’t understand the market reaction given there have been no surprises! Does the market think we will need more funds and soon? Would be nice to see some director buys now.

Thanks guys but I am still at a loss to understand the reaction to the RNS because it seems to me that nothing has changed and they continue to deliver!

Thanks RR. So basically the grades we need to break even are much deeper than the scoping study indicated then? That must explain the drop because it will cost more to extract the gold and platinum. It was also supposed to be a near surface mining operation - is 21.5m near surface?! It seems we will need more funds soon but I think the 110oz so far extracted will yield us nearly £90k?!

Thanks mate, so on balance are you positive, indifferent or negative on this? Have they met expectations?

Please clarify. Weren’t they expecting 0.17? And what is PZ?

What the bl00dy hell is going on?! Great news then loads of sales and the price drops! I was expecting it to rise at least 20%! What am I missing here? What was in that RNS about the grades that missed expectations or created uncertainty?