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Why Avacta rather than Mologic? Both perhaps?
I Love Colin’s style of RNS...factual, accurate and timely.
Will we see £3 today? No..will we drop significantly? Dont expect that either...
Hoping for a flat to slightly raised day....this time.
It will come....
Omega notes that in this public government disclosure the contract is stated to have an estimated total value of £374 million. The Company notes that under UK Government Public Sector contract disclosure rules this number necessarily represents a maximum of the potential value of the contract and care should be taken not to use this number as an estimate or forecast of the actual likely value of purchase orders to be received by the Company for the production of COVID-19 lateral flow antigen tests. The value of future purchase orders may be substantially less than stated in yesterday's public Government disclosure.
In addition, the Company still awaits confirmation that a COVID-19 lateral flow antigen test has passed the necessary performance evaluation. Accordingly, there are no COVID-19 lateral flow antigen tests that can be manufactured by Omega, on behalf of the Government, at this time.
As soon as the DHSC has access to a test that has successfully passed performance evaluation, it will be licensed to Omega for manufacture. When the test is ready for production Omega expects to receive purchase orders from the DHSC for these tests and, where appropriate, the Company will make further statements given that these production volumes are expected to result in substantial revenue growth for new financial year.
Colin King, Chief Executive Officer of Omega, said:
"Although the disclosed contract value for our agreement with the UK Government is only an estimate of what the total value could be worth, it is very encouraging, and is an indication of the substantial impact on Omega's future performance that such a level of utilisation of our lateral flow test production capacity might have.
"We look forward to receiving notification of which test will be produced under this arrangement and we will update shareholders as these tests move towards production and purchase orders are received."
Agree Glib, but remember this is an individual contract.
Althought it may well be renewed ( hopefully more than once!), I prefer to stick to the numbers presented here.
I do think that once we’re near the end of this contract either our govt will renew, or we’ll be selling to ROW at a higher margin, but for now I’m very happy with the current situation...
Ok Tuan...I still read it slightly differently, but let’s say you are correct.
A quarter has what, 13 weeks? We can produce 2m a week ( ignoring any stockpile), so estimated sale price per test would be 374m/ (13x2m) = just over £14/ test? Even if we allow for 10m already in stock, it works out around a tenner a test?
Either way it should leave a nice little profit margin for ODX.....
Disagree Tuan.
Total value ( if all/ any extensions are taken up) is the 374m, so that will be spread over however many weeks it takes to make them.
Need a cost per test to work out the income stream.
Hang on to your hats for the clarification! :-)))
DHSC's market analysis data demonstrates that...
“the global market for LFT is volatile and highly competitive. Global manufacturing capability is limited to circa 120m units per day. World demand often outstrips supply. ....”
And then:
“DHSC requirement is driven by the progress of the pandemic (including emerging variants),
....the changing efficacy of available LTF products ....
and the severity of the second wave. That requirement means that the UK must make substantial purchases of tests.”
Anyone able to call in?, or even get onto Walbrook?
He’s doing a chat section on the use of testing for schools, and in the pre-chat mentioned the current failure rate...
Anyone know of summat more reliable?
Rns seems to indicate that he is?
2019... Michael Joseph is to be paid £35,000 in shares for the 14-month period to Dec 2019 that he acted as NED, contingent upon, and only in the event of, the Company relisting on a recognised investment exchange, calculated at the IPO price per share.
Now has 53m shares and still on the list of directors, but as BigD says....ways and means
Have a look here for more opinions...
https://www.lse.co.uk/ShareChat.asp?ShareTicker=NUOG&share=nu-oil_andamp;_gas
Thx guys...not on linkedin
Much as I’m a believer, if CM did genuinely tweet, it didnt stay up for long...
Its defo not in his feed now
As we are selling the Mologic test, does this mean TT has been completed, or is that for yet another product waiting on a contract RNS?
GLA
Surely TT is a process validation....Only required for each new test, not each line producing the same test?
Nicely put, Kruger.
Question is, will it be prime, or spare ribs?...
Or spare ribs with extra sauce?
Gla
Max3...could be why the storage space tender has been filled...depot v near Omega I understand.
Posted here a day or two ago...kuhne nagel?
^^??Hani...
At the risk of coming across slightly skewded ;-).
ODX based purely on comparisons of current Mcap and number of shares in issue...Ive not looked at avct at all. You’ve prob done a lot more research than me!
Seriously SD...??
Most posters cant even make the bottom of the Bb pages ;-).even recall one asking what DYOR meant lol