Member Info for JimiHendrix

I’m expecting some positive news will be announced soon to boost the share price above 16p for at least 5 days so they can make the next drawdown as per terms of the facility. I’m sure there’s positive stuff happening behind the scenes, they’ll tell us when they need to.

Looks like there’s more upside for gas prices at the moment as well.

(Bloomberg) -- European natural gas advanced as traders weighed extreme heat in parts of the continent and concerns about the little fuel Russia is still sending to the region.

Benchmark futures settled 3.9% higher after another session of sharp price moves. Searing temperatures in parts of the region and global competition for liquefied natural gas continue to provide upward pressure — even as flows from Norway, Europe’s top supplier, return to levels last seen in April.

Traders are also watching escalating tensions between Russia and Ukraine in the Black Sea, where Moscow has attacked agricultural storage facilities after halting the grain-export corridor. While there’ve been no statements that a tit-for-tat response against Russia could impact gas supplies, the market remains on edge.

In addition, more seasonal works are scheduled in Norway next month, and the market will be monitoring closely the maintenance schedule after unplanned delays already caused intense volatility in June. The recent price gains could be “attributed to the ongoing nervousness of the market,” analysts at Engie SA’s EnergyScan said in a daily note.

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As expected, gas traders have been closing their short positions too.

TTF gas prices up 7% today too. Mark took the opportunity to exercise some of his options last week, he wants to increase his holding further for the long term.

Spanish general election on Sunday, expectations are for a change in power that will be pushing the Spanish gas industry and speeding things up.

Hopefully some positive news will come first. But I’m expecting about 6 million new shares to be issued in the next 1-2 months at a discount.

Yes unfortunately I think RF will want their new shares as cheap as possible. I like to think they’ll hold those for the build up to stroke test launch but the NICE publication has been delayed until the end of December I’m wondering if they’ll sell down those too and go for a third batch of new shares.

I’m wondering why it was delayed. Does it mean the UK approval and launch will be later now too?

Roger, my understanding is the new shares will be slotted at 8% discount to the 5 day vwap (I need to re read to be sure).

RF can’t lose with this facility, because of the way the sells are redeemed.

With adults there is no need for Genedrive’s test, reason being speed of results is less important so existing cheaper tests will continue to be used.

Riverfort can sell under 16p, it’s just that we can not make a drawdown within 5 days of it being below 16p.

It suggests they’re making about 270k at the moment. Shame they weren’t selling it a year ago when prices sky rocketed. Anyway, the gas price should go up later in the year.

The distressed seller has created a very attractive entry point considering the fundamentals here imo.

The argument questioning why he would be selling at this stage is simply answered by the fact that he needs the funds and he had a massive amount to sell which he started selling on the spike several months ago. His broker will likely have instructions to sell chunks whenever possible as soon as possible until completely sold. Naturally this has put a lot of pressure on the share price, it will be interesting to see if any of the other directors increase their holding now.

Yep this is going to rocket soon, I have no doubt.

Don’t understand the selling here. Keeping it low for a takeover offer maybe? It’s odd.

Exciting times! I think first gas fairly likely for next week, definitely not a time to be selling.

Yes just to clarify as per the circular, the share price can fall below 16p but the company cannot make a drawdown at that time or within 5 days of it being below 16p. So if the company wants to make a drawdown and the share price is struggling then they’re going to have to release something positive to boost volume and drive the price up.

They’ve already said that they’ll have plenty of positive news flow, so I’m expecting something late June / early July to boost the share price considerably to ensure they can drawdown another 300k.

I’m not worried about RF selling, they seem to be doing it carefully. Also have to bare in mind that if they destroyed sentiment here and subsequently volume disappeared they will then be restricted in how many shares they can sell anyway. They will make plenty of profit doing what they appear to be doing, being careful not to crash the price, ensuring the company can make the drawdowns, ensuring they get the warrants, and of course within the next 2 months receiving new shares just in time for another almighty rise in the share price! I anticipate 40p+ again September/October.

Well of course the company can ask haha. With any contract or agreement you can always ask the other for an exception. There is no way that will happen though unless the company became absolutely desperate, and we know that they are not desperate as they have plenty of funds currently and grant funding on its way.

RF don’t hold all the cards here, as we are not relying on the monthly drawdowns to survive. We currently have a healthy bank balance to last us many months. RF will be aware that the share price is likely to rise considerably in 2-3 months as stroke launch will be on the horizon as well as further rollout expected and Europe partners.

Therefore they will want to get their new shares asap. They only need to sell around 100k a day to be out by August. I believe this is what they’re doing.

Roger, I don’t think it’s a likely scenario or even rational thinking that RF would want the share price to fall lower than 16 before requesting new shares, as they will miss out on the warrants.

The new shares will be approx £1million worth, but if the share price goes below 16p then the terms of the facility will have been broken and there will be no more monthly drawdowns (and no more warrants being issued). The warrants will be worth far more than £1m.

Quite possibly, I believe they’re trickling their shares out when volume is low and selling larger chunks when volume is high. Either way they’re clearly doing it in such a way as to have minimal effect on the share price. We’re at 17.25 today so yeah exactly the same as end of May.

Having had the launch event a few days ago I expect we’ll hear something positive next week regarding DEVOTE, things are starting to happen for sure.