focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
@Joe - not as far as know. Hence asking OAPK who seems to be much more clued up on this subject.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1896212/000149315223017281/form10-q.htm#sj_001
Pg 26 of the linked article.
'On April 10, 2023, the Company received written notice (the “Notice”) from Nasdaq indicating that the Company is no longer in compliance with the minimum Market Value of Listed Securities (“MVLS”) of $50,000,000 required for continued listing on the Nasdaq Global Market (the “MVLS Requirement”).'
Not sure how this can be as they IPO'd Feb 22 at about $10 per share and it's been steadily rising. In April 23 it was around $10.41. Apparently they met all the listing requirements at IPO so how have they failed the MVLS test a year on with a higher valuation??
What I'm not totally clear on is how many shares are in issue. At the head of the document it quotes 2.94million which by my maths makes $50m about $17 per share. I'm not convinced this is right. Elsewhere it hints at c.11m and c.14.9m which would mean mcap was already >$110m. It's not crystal clear from that document which value is right. It's quite important to home in on the actual figure.
On the assumption it's $17 per share... This would seem like quite an ask TBF.
https://www.tradingview.com/x/j429elIW/
I seem to recall reading somewhere that M/C's investor relations were quite helpful and approachable. I'll email them and ask for clarification unless anyone else has some input on this and can save me the task.
ATB LB
@oapk. I noticed Murphy Canyon have another sec filling up on their website. Q1 accounts. Have you seen and digested? Isn't there something about a min mcap for them to list? Appreciate your thoughts on it.
ATB LB
All the talk about big sells. Personally I'm not convinced.
Slightly odd that around 2 pm just over 2mil were negotiated (PRICp). PRIC are normally broker to broker direct transfers. Not via the mms book. Marked here as sells due to the execution price being below the mid.
23.05.23 13:52:44 2.72 GBX 500,000 13,600.00 Off-Book PRIC P XLON XLON (£13,600)
23.05.23 13:53:32 2.63 GBX 551,200 14,507.58 Off-Book PRIC P XLON XLON (£14,496)
23.05.23 14:20:57 2.54 GBX 1,000,000 25,370.00 Off-Book PRIC P XLON XLON (£25,400)
SP dropped at 13:50.
Then an hour later a delayed LRGS flagged trade marked here unknown...
23.05.23 15:10:09 2.54 GBX 1,135,000 28,794.95 Off-Book P LRGS XLON XLON (£28,829)
Just pointing out that all of these trades are happening away from the mms gaze and reminiscent of the action when ML was adding.
Hard to tell exactly what's going on but not cut-and-dried 'sells' IMO.
Direction of travel next few days may shed some light.
GLA - a bit of weirdness has started. Hopefully it's good weirdness. It was last time.
ATB LB
source:- https://www.londonstockexchange.com/stock/CIZ/cizzle-biotechnology-holdings-plc/trade-recap
Maybe this was being filled....
23-May-23 15:10:09 2.537 1,135,000 Unknown* 28.79k
Hard to tell.
ATB LB
Ahh OK @FF I also tried a linkedin route and arrived at a very different conduit club. I think the one you were originally referring to. I see where you are going with this now. Apologies.
ATB LB
Fastfood. Good sleuthing. I did a bit of extra digging... sadly I think conduit holdings is not connected to our conduit. Murphy Canyon are currently firmly hold the reigns on 'that' conduit anyway.
Routes from Vetch seem to lead to The Conduit Club. Ummm, how can I put this.... Its seems to be a special private members club. If you know what I mean. Quite a hedonistic venue if I've traced it correctly. ;)
That Vetch guy seems to be a self storage entrepreneur. Sorry to dampen it.
The Lang link to Leeds however has been made before (sorry I forget who joined the dots) and personally I think is a valid one.
ATB LB
Heavy metal separation including uranium. One of K tech's areas of expertise. They've been doing it for decades. Great to have them on board.
https://ktech-inc.com
Argue all you like..... I'm going to wait for the results from our process, using our feed stock and our chemistry. Then assess if this is a problem or not.
ATB LB
A 1mil buy (in disguise) this morning... spread across 3 trades.
Couple more... Last two days. Maybe Cfds?
16-May-23 16:09:16 4.167 750,000 Unknown* 31.25k
18-May-23 16:35:56 3.75 500,000 Unknown* 18.75k
18-May-23 14:12:02 3.9395 253,712 Unknown* 9,995 O
Do it @TT. Not just a man it's a complete body of a mummified Saint. It's a humbling experience. If also a little disturbing. Beautiful part of the island too.
Bit of advice. Book the wine flight tasting experience at the vineyard up the road for after the monastery visit. Really good value. Excellent wine. Truly breathtaking views... Plus it takes the taste away. Or do it first for the Dutch courage. You might find need some when you get there. :)
Enjoy either way. Seriously the vineyard is really worth a visit. Can recommend it.
ATB LB
Posted on YouTube about an hour ago. Found it via Cornish Metals linkedin.
Cornish Metals, Europe's Primary Source of Tin by 2026 (Site Visit)
https://youtu.be/0-YX_Z9EqzY
ATB LB
Over 1m - £46k. Look like buys. One full ask. Other two close. All 3 LRGS and delayed. Bit odd with a potential raise coming at 3p.
15-May-23 11:14:04 4.475 300,000 Unknown* 13.43k
16-May-23 08:01:22 4.45 224,450 Unknown* 9,988
15-May-23 15:11:07 4.50 500,000 Unknown* 22.50k
ATB LB
@joe. Yesterday there was just a preliminary S4 filing by Murphy Canyon. Alongside a draft prospectus detailing a possible merger with our partners at Conduit. An intention was made to go to a shareholder vote and possibly list on the nasdaq and cement the transaction.
All LTH hope they do as it potentially derisks finance here for several years. It could happen soon.
Forward looking statement :-
PRELIMINARY , INTENTION, DRAFT, POTENTIALLY, POSSIBLY , COULD and HOPE being the key words.
It's a way off yet and nothing has actually happened to add value to ciz right now.... As in today.
More patience required I'm afraid.
ATB LB
Interesting development. That link provided by OAPK also contains the full prospectus. Looks ready to roll as long as the shareholder vote goes through.
The proposal recommends 7 new directors. Interesting biogs on all the directors on page 105. Including James bligh who it seems contributed to the cizzle RTO.
ATB LB
... At least it says this year. :)
"NOTICE IS HEREBY GIVEN that a special meeting of stockholders of Murphy Canyon Acquisition Corp. (“MURF”), a Delaware corporation, will be held at a.m., Eastern Time, on , 2023, "
@oapk
Interesting and good find. This looks to indicate progress for the nasdaq listing.
Do you know the date of the vote. I took a look at the link you provided but the date for soliciting votes was left blank.
Apologies I'm out of touch with this, I'd appreciate your thoughts on it.
ATB LB
@vii.Ahh yes 10% my bad. Sorry... Spinning multiple plates today. Factor of 10 out but in a good way :)
Techmet should really appear soon on the significant shareholder list as they now have more than the ceo. I go back to the point about a 10%+ techmet shareholder joining the rbw board as a NED. Techmet reciprocate with a 10%+ holding after placing. The other rbw directors nudge up their holdings to maintain their % holdings. Coincidence.... Maybe.??
Yes. Imo likely more cash needed after DFS to scale up to a full production plant. Q1/Q2 2024. CapEx / OpEx, payback and NPV etc etc should come out in the DFS.
Pure speculation but my personal hunch... Maybe the strategy here is to prove up the process and technology via pilot plant (believed to be now fully funded). Extrapolate a resources estimate from this data plus some extra drilling. Document the whole thing via a DFS and then off load the project. Maybe the plan is to try to sell Phalaborwa a turnkey project.
A full blown DFS would enable that potential scenario. Equally it would help to secure additional finance. So potentially more cash is only required for taking the project to production. Like I say. Just a hunch. Time will tell.
If you're researching here best to go back to the point in time GB joined. All the significant stuff is rns'd after that date. Aug 2019.
DYOR my 'ansom. There's a lot to consider including the jurisdiction of the assets.
ATB LB
Fyi from the other discussion ... Techmet already hold 15m shares from a previous raise @ 15p per share. £2.25m
They just added £5.54m at 10.37p. So about 53.4m shares if my maths is correct.
Approx numbers... 68.4m shares total. £7.8m invested. Just over 1% of total share cap. Roughly 11.4p average.
For a smallish Co they have access to funds and presumably see upside.
ATB LB
https://www.lse.co.uk/rns/RBW/placing-raises-1636435-million-at-15p-per-share-x937snsmuj1nc4t.html
@SP.
Some of this funding is earmarked to complete the DFS according to GB on that interview. Hope they publish that in all its glory too. Sometimes it's just a summary that gets released but hopefully we get to see the full blown document which will likely run to dozens of pages. Target is Q1 2024 I believe, after pilot trials are complete.
A DFS is considered the crown jewels of feasibility studies. Especially if prepared to JORC standards. Arguably the best tool available to unlock future funding to take Phal to full production OR act as a 'prospectus' to facilitate selling off as a turnkey project.
Speculation!... the latter fits the pattern with GBs previous enterprises if you research his past.
Both paths are exciting. As vii has pointed out this placement was made at a significant premium. Presumably Techmet and the other participants see upside on their circa 11 p stake. Bodes well in the medium term for shareholders if this pilot plant does well.
Bit of a wait ahead but great progress being made on this project. We just need the science and chemistry to pan out now.
ATB LB