Member Info for Jiving

Well that certainly wasn't me AJ. One of my prime reasons for investing immediately after the IPO was that the company founders were still on board & had big stakes. I made it clear last year I would have supported an EGM to depose Blackwell & replace him with Dan, & indeed at the AGM I worked with other to get a healthy negative vote against Blackwell & Keegan. We may need an EGM to rectify this situation & put shareholders back in charge.

We cant go through this nonsense any longer, there won't be anything left of the company. This how I see the case for Dan:

1. He knows the company & its key products inside out. He doesn't need a 'familiarisation' period, he can be up & running from Day 1.
2. He was well along the road with Kissei when he was elbowed out last year. As a founding shareholder & scientist he hopefully still has the credibility with the Japanese to get that show back on the road.
3. He has massive skin in the game in terms of his share stake & his options. He has illustrated his commitment & belief in the company & its products by not selling down when he could have.
4. There is no practical alternative for a tiny biotech company like NFX. We simply won't get a quality CEO, the best we can 'hope' for is another mercenary who uses us as a stepping stone to better things. We dont have the time or the money to repeat that charade.

Lets not repeat this latest disaster & have 'our' Chairman (whoever he is) appoint a corporate search company to find a new CEO. They come up with a list of (temporarily!!) unemployed biotech exec's, who simply treat NFX as a fancy job title & office address whilst they nail down another job. She was in situ just over 6months (literally the time it takes to find & negotiate a new job), she must have started spamming her CV to all & sundry within nanoseconds of signing.

Unbelievable, is that why she had no option/warrant incentive because she was just using this as a temp posting & wouldn't be hanging round to collect? TBH we need a CEO with skin in the game & some 'commitment' the last 2 have been disgraceful. So put me in the 'bring back Dan' camp.

Chab. There are going to be 2 components to any deal, a small but possibly useful upfront & a royalty related deal that is potentially far more significant. As discussed by Soup & others, but which is dependent on Oxilio in turn doing a deal. So in the absence of anything else, I am happy to bank the upfront & maybe also get a revamped grant. Any revenue is good revenue & replaces the need for equity sales. BTW I sure wish we had a big pharma taking 001 directly but there don't ever seem to have been any.

Chab, sure we would all like a better deal for 001, but since the China deal fell through, the world has seemingly not come knocking at our door to get the rights for 001. At this stage as well as getting even a small sum of money through the door it would be a small positive sign for our portfolio.

Its actually slightly better than I expected, as I feared these results would be used to drop the news that Oxilio had walked. Seems they are still haggling & whilst I have very low expectations, even a couple £100k up front keeps us going another couple of months without a new raise.

I think you are referring to 'Bonum' who used to regularly trash COPL whilst pumping various other stuff like MATD & Bahamas Petroleum.

Well at least Botswana is getting its iron ore act together.
https://www.mining.com/web/botswana-begins-first-iron-ore-mining-project/

Of course, Offshore's buy recommendations have been so accurate over the last 4 years.

Exxon, Shell, Total bosses speak at Qatar Economic Forum
Lack of investment in oil and gas contributes to current spike
https://www.bloomberg.com/news/articles/2021-06-22/big-oil-ceos-join-traders-banks-in-predicting-higher-oil-prices

Apparently stopped this year after nearly 6 decades as a supplier in some cases. So Japanese & Koreans needing to increase their purchases from global iron ore markets.
https://www.financialexpress.com/economy/iron-ore-exports-india-puts-an-end-to-decades-old-pacts-with-japan-korea/2273477/

FX I know you weren't having a pop at me - no issue. But we are both stuck in this & actually like you I still, after everything, think NXP002 & maybe NXP004 have serious value (but now I am dreaming value = tops 50p rather than the £2 some once dreamt of). If they were valueless I don't see why a pharma IPF specialist like Anne would take on the CEO role or draw in an impressive board. I am just trying/hoping to see an end to the relentless downward path the share price has taken for over 18 months, which I why I am looking for a bottom.

OK FX, I know & acknowledge I am an LTH clutching at straws, but as an NFX investor yourself what do you expect - to clutch at a lifejacket, or a lifeboat - not going to happen, straws is the best we got.

Good to see todays trading range & volume. Our problem for the last 18 months has been not simply no news but endless bad news, together with relentless selling by major holders. If if we have reached at least the end of the relentless selling, that should be enough to stabilise us above 2p. The only news I can see we are expecting is Oxilio & of course I 'hope' for a positive outcome, but it does seem to have dragged on a bit since they exercised their option. Although I am not expecting big money from basically a startup, it would mark the only positive news for over 18 months, and surely that would 'maybe' put us above 3p - as its some vindication that our business model is beginning to work.

99, thanks a good quality article listing the major forthcoming projects. Interesting the comment on Simandou being pushed back to 2027. The various plans & studies AT has produced in last few years suggest Zanaga could move into production fairly quickly , but for now we languish around 7p.!

Brady, its madness that its trading at 0.5c daily. Even given the delays I dont understand why no effort whatsoever (ie specifically including our Canadian IR) has been made to promote & explain the deal in Canada. A great US deal (ie safe not African) that made economic sense with oil @ $39 & now its $69. Why not shout it from the tree tops?

Great post Ploppy, agree on all points. Same old.

First names out in the Nigerian press, no Shoreline or Shorecan mentioned yet:
https://www.vanguardngr.com/2021/05/shafa-a-a-rano-matrix-others-get-marginal-oil-field-license/

FX, when you spell out the directors resignation list like that, it does give pause for thought.

I suspect the Jo departure is mutual due to a strategy change whereby there is no full time role for her. For me the key sign of how she sees our future will be if she starts selling down her stake, thus far (as far as know from the crappy share stake reporting system) Dan has not sold down - even though he has been gone heading for a year now.