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By my calculations, if they go for the shares, it'll be based on a price of about 11.5p (converting the $6.5m into GBP, and inclusive of the 5% discount) = about 43M shares.

Obviously the higher we finish today the lower the number of shares but yeah it looks like it'll be roughly this.

Worth reminding everyone that this Duferco money was required to purchase Vanchem at a bargain price. It was such a bargain that the auditors said it was worth $60M+ more than what we paid for it from day 1.

So, whilst it is not ideal that the number of shares required will be about 20m more than it would've been in different circumstances (without COVID-19 etc), the BoD were still geniuses for negotiating such a deal, and we're still massively quids in for it.

Wow, that's incredible, go on Gambit!

Happy to sponsor you also of course : )

Well done Jolly. I'm in but clearly missed the opportune time to sell today (like I did in August!)

And yes, it's hilarious how wrong Riddler was on both BXP & CNS!

Excellent news : )

Although I wish I saw this about an hour or so sooner cos I would've happily top sliced at 80p!

this is looking v undervalued and due a re-rate

Don't get me wrong it's great that Biden will win. There are some things he has the power to do on his own. But the major policy changes will require Senate approval, and I can only see green policies getting through if they're not too revolutionary in nature, and if they're packaged up with something that can get bipartisan support. Like if it's included within a covid-19 Stimulus Package which encompasses lots of different things.

Yeah Dems winning the Presidency and holding the House of Representatives is not enough. They needed to win the Senate to really have the "Green New Deal" they dreamed of.

Unfortunately they will lose the Senate, because it majorly favours small red states, and they clearly haven't done enough to flip some of those key seats. Their only chance now rests of the special elections in Georgia. If the R candidate in the regular senate election wins by less than 50% there'll be a run-off election y'see. That will happen by the time all the votes are counted (as in there will be a run-off). But whether the result will be different in January is another matter!

Yeah it’s increasingly looking as though GS are out.

Can see we tested 13p earlier, so can see us finishing there by the close.

And this is on a very turbulent day as well due to the Us elections - bodes v well :)

Also, if the Democrats get a clean sweep (winning the Presidency, the Senate, and the House of Reps), we can expect what they're calling the "Green New Deal" which will be hugely beneficial for vanadium, VRFBs, and consequently for V prices, and for Bushveld !

Here's hoping...

TayQ,

Many thanks for replying. That makes a lot of sense, but thanks for following up with Richard to get him to explain what he meant!

Also, in response to your post re Halo, I think you're bang on - their continual* refusal to deny the rumours say it all.

* I say continual because on the 'Telegram' app, there were screenshots of an exchange between a Nova investor asking Halo outright whether the rumour was true, and they merely responded saying they cannot talk about it, rather than denying it!

I'm the same as you wise lot - my Bushveld holding has never been larger, because I have added quite a lot to it this year. Averaged up considerably ofc but well worth it because the gap between the inherent value and the market valuation is about to close rapidly in the weeks and months ahead : )

Genuinely cannot wait for 2021.

Just seen this interview (https://novacytinsider.com/lennie-trium-1/) and it makes for a superb read, reaffirming my belief that this company is a hugely exciting one to be invested in.

One question I wanted to ask though is what does Richard mean when he says some chap called David Bamber has the Novacyt Market Maker on the run right now? [Excuse my ignorance re MMs]

"Richard: I don’t no, they invest alongside my own investments or they do it on their own. I usually hold an investment for 9 months on average over the past 10 years. I think the longest was Liontrust, held that for 2 years. Met too many characters over the years. David Bamber was market maker at Merill Lynch and I’m working with him again now at Trium. The man goes where angels dare – and he’s got Novacyt’s market maker on the run right now."

1.8m Buys vs 0.4m Sells = ratio of 4:1

Low volume all round to be honest, but that could be because people are hesitant about buying when they think GS aren't done when perhaps they actually are!

Maybe that was it and it's slipped under the radar, hence why the share price is so tentatively creeped up from 11p to 12p so far this week.

If so, this should re-test 15p soon, and - if it breaks through this time - the share price will then reach 20p+ very shortly thereafter.

This therefore might be an opportune time to buy.

Ah actually I agree.

In which case, there were 1.65 buys per 1 sell today, which explains the slight rise.

So maybe GS took a break today. Doubt we're out of the woods just yet. Still feel their final sell will be a big one.

Can see a 250k GS-looking sell this morning, and I expect their final sell to be a big lump sum. so no I don't they've gone yet

02-Nov-20 11:10:20 11.2499 250,000 Sell* 11.00 11.50 28.12k

We can't be far off now though...

Razor - you're correct, we couldn't file anything to the SEC because it'll be irrelevant to them.

Shame really because they (and the US regulatory system in general) is actually better than what we have here with the FCA in a variety of ways

Good point. Agreements are a loser term than legally binding contracts, and they're often a precursor to contracts being signed.

Wonder if we will hear more news about this in the upcoming Q3 Update...

If we can have more days like this in between big re-rates due to big RNSs that'd be ideal

has not gone down well.

Sub 200p on the cards now? It's a spectacular fall from 315p not long ago

Once this settles, I might finally buy in