Member Info for Jiving

I had some renewed hope after the report of the conversation that took place with AT in the early summer. But if nothing comes of it we really need to think of another approach. We have negligible funds & a bombed out share price, even pottering along at present would be destructively dilutive once the Glencore loan finishes. AT is moving his focus to other interests, & the iron ore cycle could soon enter a downward path. Perhaps a bargain basement sale to Glencore is our only realistic strategy, then they would get 100% ownership & could cut a deal with a miner or whatever.

The subscription price was indeed at 1.5p but the benchmark price was set at 2p. Whatever we are getting a fraction of what we were supposed to be getting which presumably tallied with financial budgeting for 2022-23.

The problem we face is that our (only) finance is derived from a monthly share 'sale' that is based on the prevailing share price. So we are now getting under 25% of the anticipated amount that was illustratively based around 2p. They need to get the share price higher but they are doing nothing practical about it. Issuing RNSs no longer moves the share price appreciably higher, we need new demand & that comes from new shareholders. RNSs do not bring them in, so we need to hook them using other methods ie interviews/podcasts. Hence our current ghost management is failing us by not doing this - something previous management, whatever their faults actually did do at regular intervals.

It is also elementary corporate courtesy to introduce yourselves in person to shareholders - again every prior major management change has led to an interview. Please dont think I want anything exceptional from our management communications - my expectations are not high - but at present they are at the bottom of the lower quartile, it would be something if we could move to the midpoint of the lower quartile.

The issue here is not written communications, read primarily (only?) by current investors but undertaking the simple elementary courtesy of making a simple interview/podcast to introduce the new Chairman/management team - as a way of appealing to desperately needed new investors as much as anyone. This was done immediately after new people took those positions previously - of course any time a new manager takes over they introduce themselves to their employees/shareholders. Its not like this is some special bizarre request - essentially 'every' company's management do it, new managers of shops & cafe's do it.....

So we will shortly back to where we were before our new 'ghost' management took over. The ghosts who can't even be fagged to spend 15 minutes introducing themselves - as all previous Chairman/ED did upon taking the positions. Disgraceful.

Would love a buyout RNS, but suspect the best we can hope for is a two stage process. First some type of EPP, then once ore has been shipped a buyout.

PR not just aimed at current shareholders, but also potential future shareholders and crucially the broader pharma industry who need notifying about our successes so we can get licensee's.

Looks like 6.5m hitting the bid price after approx 15.00. Not smart selling (ie not trying for the ask or even a mid price) just pure dumping, hopefully CPI exiting. Good riddance. At least there were buyers taking them.

Agreed, frankly its beyond hopeless. If anything our IR/PR has got worse not better since Julian/Dan assumed their roles. Previously new Chairman/CEO/ED had quickly upon taking their position done a podcast to introduce themselves & explain their plans (its elementary corporate etiquette) . Some 6 weeks after taking office, nothing. Its literally spending 20-30 minutes in front of a camera, once every 3 months, whats the problem virtually every other listed company on the LSE manages to do it?

Its not like our bombed out share price & the hopeless destructive share deal - that Julian & Maddy were a party to - doesnt need all the help it can get, we are literally getting approx 25% of the monthly revenues intended from Lanstead.

Agreed its about licensing. Where was that quote from Soup - the company or Allenby?

My take on that 2029 approval timeline was that it was based on NXP002 going through the trial/approval process in US or EU/UK where tranilast had not already been approved for usage. In Japan/Korea, Kissei has already secured approval in 1982 for bronchial asthma, so our co-cystal could piggy back on that existing approval & simply undertake limited clinical approval for its use in treating IPF. Once the Jap/Kor approval is received, the US & EU/UK markets are approached on the back of that approval. It is obviously more complex than that but I always understood this was part of the attraction of Kissei.

Soup the regulatory schedule would surely be significantly faster if they worked with Kissei - who already have regulatory approval for using tranilast for certain conditions in Korea/Japan. I believe they essentially need to demonstrate NXP002's effectiveness against IPF. IF they were able to get NXP002 fast tracked in Japan for use vs IPF; surely due to the reciprocal nature of drug regulation among major developed countries; that would potentially give them fast track access to US & Europe? I understood the above scenario was perceived as one of the big advantages of the Kissei route.

Those 2+ wasted years come at a cost for us, (& Kissei of course) but there is still hopefully potential from other pharmas without an active IPF programme. Saracitinib seems to have been around some time, and appears to be typically orally administered.

FX not going to catch me challenging you on that point!

Well next week we have our Congress, which must be a great launchpad for NXP002. Would be really nice is a member of our BOD could deign to say a few words, it would certainly not harm the share price!

"Nuts that Fortescue are spending $90 million.."

Nuts that Fortescue are spending $90 on exploration in Gabon, when that amount could kickstart an EPP on our proven Zanaga deposit. So much attention on Simandou with all its legendary 'issues' (RTZ writing off $1.8b in 2016). Yet we seem to go unnoticed, but are surely the obvious large scale proven alternative? Its why I still hold, rationality must prevail eventually, hopefully while I am still breathing.

BTW Veteran thanks for your great summaries of your AT conversation. As an LTH I am just dreaming there is last minute haggling going on & we eventually get the 7.00 am bombshell. The Glencore loan also gave me hope. Share price struggling to stay above 2p on low volume.

BTW has anyone voted for/against the AGM resolutions, I have done every year in the past but not this one.

Those attending the AGM get to meet their new BOD (how many 2,3 more attendees?) but for the vast majority of shareholders that is impractical. So we need either that streaming or they need to summon up the simple curtesy to do a 15 minute proactive interview - just like essentially every other new Chairman or CEO equivalent has done on assuming their posts. So no, a non-streamed AGM does not fulfill that elementary communication requirement, all we will get is another RNS with a written summary.

Actually its not a crazy idea for a 'technology' company to stream their AGM & even provide Q & A capabilities - other companies do.

Or even our new management finding 15 minutes to introduce themselves in their new roles, and explain to their shareholders what they intend to do with our company.