Member Info for Jiving

But is that an individual or company NDA?

Stas, OPL226 is a stunning stunning story & a prelude to everything that has happened since.

Stas, the OPL226 scam was way way worse than anything that ha happened since - difficult to believe but true!

Palmer944, please do you have a link for the Essar/OPL226 story?

It was a stunningly bad deal by people who clearly (at best) couldn't give the slightest toss about the company & its shareholders. But is was Riddell/Brindley that 'negotiated' and signed off on it & presumably the then BOD that approved it in September 2021. Dan left the company in June 2020 so he played absolutely no part in NFX's decision making & approval process - literally zero.

WSJ front page:

"Saudi Crown Prince Mohammed bin Salman gathered local journalists in Riyadh for a rare off-the-record briefing in December and delivered a stunning message. The country’s ally of decades, the United Arab Emirates, had “stabbed us in the back,” he said.“They will see what I can do,” he told the group, according to people at the meeting."

https://www.wsj.com/articles/frenemies-saudi-crown-prince-mbs-clashes-uae-president-mbz-c500f9b1

That is crazy money for the CEO of a tiny AIM company. Quite likely substantially above his market clearing rate. Copy/paste the same RNS once a quarter.

Relax I dont know what your game is here but typically those posters who suddenly appear, post feverishly & push the notion a deal is imminent, are short term traders of one type or another. Whatever, you have got over-excited and conclude something is going to happen before the ERS. Time will tell.

As pointed out, you clearly didnt know that Dan didnt represent NFX at last year's Congress but the NL based consultants. They highlighted recent results and noted 'interest', lots of exchanges of info can take place without NDAs. The point of an NDA is you dont know it exists, any more than I know it doesnt. I am not trying to convince you of my perspective, actually I dont care, the only thing that matters is a licensing RNS - on that time will tell. Lets see where we stand at Xmas, if you are still invested.

The process of contacting certain potential licensing partners has been ongoing (on/off) since 2019 when Kissei was first approached. The building of a complete data set has been a lengthy, painful process and follows a strategy set out by the NL specialist consultants (hired post Dan's resignation but I believe continued) in compiling the minimum necessary data to answer tough questions from the most likely partners. The ERS has been seen as the primary event to kick off the key discussions. If somebody want to believe there is an NDA in place & a deal is possible pre-EMS, thats up to them, but I see no evidence for that whatsoever. Lets see where we stand at Xmas, I would give odds of at most 20% that we get any announcement before Xmas & that would likely be an option not a full licensing agreement. I absolutely 'hope' we get a full deal before then but hoping dont make it happen.

FFX. Oxilio secured most off the value anyway in the previous awful deal. If we can get funds that would keep us going & possibly fund further progress on NXP004 without any kind of horrific dilution. Dan is doing a good job in conserving resources and getting the best out of them.

Exactly my hope as well Soup, an NXP001 sale would remove financing concerns into late 2024.

Would be good to hear that the remaining tests had been completed prior to the crucial ERS in Sept, then we can hit the ground running with the main targets for licensing.

I dont know, but it seems likely those trades would be related.

I am intrigued as to why they have begun the fund raising now, when they still have six months & considerable headroom left on the Glencore loan & indeed an end June cash balance of $500k. Annual results stated at end June 2023 they had drawn down $1.185 of the $1.8m facility (plus $70k interest). Are they going to repay the loan, just under £1m incl interest, in advance? Is there tension with Glencore (price?) such that Elphick is removing a source of Glen influence/control. As 48% shareholder, Glen of course are suffering the same dilution per share that we are & Elphick is of course.

If that was Shard, it looks like they are simply booking the trades through the market & into clients' accounts? Its not really disrupted the share price, during the course of the day normal PI trades were both sides of 8.00p. If they continue to do similar in future, frankly I am not particularly bothered, Elphick is v anti dilution & he doing it this way for a reason.

Another thing that occurred to me is that Vale's iron ore business is not really comparable to coal. High grade iron ore is as much a part of the green future as copper & nickel. In particular, high grade iron ore plus pelletisation/processing is a high growth/high margin sector: Vale's iron ore business could thus be as attractive to PIF as the copper/nickel spinoff. The Vale transaction is indicated to come to fruition in late Sept & may be a necessary step prior to any move on Zanaga. IMO its likely Q4 when all the strands come together. It could be like an Ebay auction, weeks of nothingness followed by 5 minutes of hyper activity!

MM. As we know China needs high grade iron ore as much as the Saudis, might they be outright bidders or happily join a consortium as contractors & part owners - time will tell! If this BRICS expansion takes place in August co-operation may be the order of the day.

Ex, furthermore whilst I dont want to take dot joining to absurd limits but... I did wonder if negotiations between Saudi/UAE & Glen/Zioc might have run into a hitch (price?) late Spring. After that the Saudi minister met with the Glen chairman in Switz for whatever reason/rationale, which may/may not have included Zanaga. Then there was the accelerated port signing with AD Ports, followed by Saudi wooing Nguesso by putting a Saudi royal jet at his disposal. The Glen/Zioc response was to seek new detailed costings from the Chinese - perhaps pushing/prompting a Saudi revised response.

Gren, I also think things have been progressing slower than anticipated by GLEN/ZIOC last winter. The last RNS dubbed the cost study a "partnership" which has stronger connotations than a simple consultancy transaction:

" Partnership launched with Chinese iron ore technical expert engineering firm ("Chinese EPC Partner").."

Thus it could appear that the China angle is as likely as the Saudi one, although this could also be gamesmanship by GLEN/ZIOC.

Regarding cost estimate timing, that is clearly intended for Q4 as stated:

"§ The results of this exercise are expected to be received in Q4 2023."

The production of real time updated costing from Chinese contractors hopefully prompts interested parties to show their hands. Whoever emerges as the financier/JV partner/bidder would need these updated costings anyway, so obtaining them has actually not slowed down the project's development timetable.

6m was closer to the Bid than the Offer which is a strong indicator.

Interestingly the article makes a clear connection between building a port & securing mining contracts in DRC, will it be the same game plan in ROC?

Thats an amazing resource & auto translated from the Japanese, seemingly with great accuracy ie not google translate style!

Thanks that is v interesting, presumably 002 . Does that have wider implications, I wonder if it would hamper us contacting other Jap pharmas besides Kissei?

Soup I have missed this - is it Kissei that has had a patent (related to tranilast?) refused?