Member Info for Jurado

A nasty little drop through the floor, on very little volume, 2/3 days before results. Can some wise person tells us what that's likely to mean - someone knows some bad news? Someone knows some good news but has successfully manipulated to price down and will buy a few more by tomorrow evening? No-one really knows very much and it's just the kind of thing that happens while we were waiting for news?

Snippy piece in the FT today suggesting XSG ("Xeros needs to dry up" - geddit?) shouldn't have released yesterday's info because there was no name, no money changing hands and no commercialisation contracts signed. Therefore it could have waited for next weeks half yearly figures and now we just sound like we're ramping ourselves. XSG should "learn the benefits of keeping its powder dry". Hmmm - as I suggested we yesterday I think we are aware this is not a huge game-changing moment, but it is significant progress and I'm glad to know as soon as it happened.

Possible 20p down the line. We can all play that game Mr Route.

Excellent - today's news may not be the big one, but it's an important staging post to the big one. We've got an agreement signed with a major manufacturer to integrate out technology in their machine and as long as the product development doesn't hit a bump in the road, we could start seeing regular income from them in the not too distant future. Probably a few months ahead of my expectations now.

So, according to this evening's RNS we may now be entering the end game for the Touchstone takeover with 90 per cent accepting or indicating they will accept the offer. A good time then to announce a boots-filling incentive for senior staff in another RNS.. Let's hope we see an upwardly mobile SP sooner rather than later and we can all get excited about the great work of this fund.

I think it's clear the current doldrums are mainly about the volatile state of the takeover and this troubled fundraising from the Chinese. Our portfolio is compelling - I'm convinced several will come good bigstyle in the next couple of years - but that doesn't seem to have as much impact on the sp as the current wrangling. So basically what I'm saying is, there there, it'll be alright in the end.

About time too. I wonder what's behind this - news brewing on merger maybe but with a company like this could be anything with one of our portfolio companies. TRX is staging a little comeback but I suspect there's more going on.

As always seems to happen I did miss out on the bottom price, but have brought a few more @13p and I'm very confident that is still a good price in the short, medium and long term. I thought this anyway but the Hardman research makes a very compelling case for the synergy with Cellright speeding up our growth and progress towards profitability by 2020. Still annoyed at paying 3p more than then placing but focusing on the bigger picture ;-).

How lovely to see a bit of positive action just before the weekend. Woodford's words are obviously welcome but let's just remember this is the Patient Capital fund - do think it can rise slowly over coming months, but multi-bagging? Let's have a look this time next year.

Like everyone else I’m mystified and annoyed by our continuing spell in the doldrums. So I felt the need to reflect again on what might make a difference in the shortish term – the next year or so. In the next couple of months we should get 12 month follow-up data for the successful CTX Phase II – which will hopefully confirm the positive findings, maybe even show improved longer-term impact, but maybe unlikely to present game-changing info. Also before the end of the year we’ll get safety data from RP Phase I and the start of Phase II. Both important and necessary events of course but given the reluctance of the markets to value our potential not, I suspect, of themselves likely to massively impact the sp. The same applies to the start of CTX Phase III and Phase II for Cone Rod dystrophy in H1 2018. In H2 2018 we’ll get the start of Exosome delivery Phase I, and finally something that could make a big difference to the SP with efficacy data from Phase II for RP. So, it would be nice to think that sentiment could change at any time, but I suspect it could be over a year before we start to see big movements. You may feel this is a good opportunity to continue building a position (not you Freddie, I think you’ve got enough already!), or you may think sod it, I’ve waited long enough here I’m offski. I lean to the former. Grateful for informed critique of the above.

Has to be a buying opportunity. Compared to the market I'm pretty unbothered by this news of a delayed contract and applaud the board's prudence. Or am I being naive?

8 sells of 200,000 each already this morning. Somebody wants rid. Maybe a holdings rns soon. I'm hanging tight whatever.

Can't help feel that despite this being very cheap at the moment, the ask could yet fall below 11. In my pique over not having a chance to take part in the placing (the company told me that the board and their advisors decided "an accelerated bookbuild process would be the most efficient way of raising capital"), I feel inclined to wait and get as close to the placing price as possible. I know I shouldn't let those feelings determine investment decisions. Tricky business innit?

Well this evening's RNS should shake things up in the morning. We've completed the acquisition of Cellright and now have to pay for it so there's a £40m placing at 10p which we can not take part in while institutions fill their boots. ("Participation in the Placing will be limited to institutional investors. Members of the general public are not eligible to take part in the Placing.") Sure it's good for the company long term but this long-term holding member of the general public can't help but feel shafted. Or have I read something wrong.

Well this evening's RNS should shake things up in the morning. We've completed the acquisition of Cellright and now have to pay for it so there's a £40m placing at 10p which we can not take part in while institutions fill their boots. ("Participation in the Placing will be limited to institutional investors. Members of the general public are not eligible to take part in the Placing.") Sure it's good for the company long term but this long-term holding member of the general public can't help but feel shafted. Or have I read something wrong.

Today's half-yearly report still puts it at £246m as of June 2017 - but whatever, still pretty huge. Naturally the report has a fairly positive spin on developments at Nanopore - "strong sense of momentum" - and generally the report is good news. Let's get this merger settled and push on.

There's been quite a lot of round numbers being sold recently - 5,000s, 20,000s, 100,000s etc - assume there is some institution or other selling off. Together with it going very quiet on the takeover front I suppose it's no surprise we're lingering in the doldrums. Still fairly optimistic in the long-term though - It might take another year to get back to 30p plus, but it's coming.

Good news on leather already ;-) Today's RNS confirms that Wollsdorf Tannery have signed 10 year contract to convert to our technology. Hopefully others will now follow - "Our contract with Wollsdorf confirms that we have a viable technology for the tanning industry that can be incorporated simply into the production process." says Mark Nichols.

I don't see a huge breakthrough this year - though I'm fairly confident there will be a steady flow of good news on hotels, leather etc. I suppose the biggest change in SP will come when they announce a deal for 100,000 units with LG/Electrolux/Whirlpool and while I'm sure we've been on their radar surely that's likely to take a fair while to sort out. Hope Ferris is feeling better.

Given the scale of our holding in Oxford Nanopore (worth £246m, and our biggest single holding by a factor of nearly 10), today's news about the NHS focus on genome sequencing - making it as common as blood test - could be the kick start needed for our sp. If anyone with the technical knowledge can comment further that would be welcome.