Member Info for LTbeliever

Same, less quantity

Today we have the "final" hurdle of 5% more shares being added and becoming tradable; given the Buys Vs Sells y'day, IMO the Mkt Maker had preemptively dropped the SP in response to the FDA delay in anticipation of Sells that did not materialise; to the contrary, most of us here opted to average down. Therefore, if the BUYS today continue to outweigh the SELLS, the SP should breach the 0.30 mark.

Submission was RNS'd on 11 Aug, so the 90 days would have ended late last week; if Dan received the request eg 1 week ago, that means 1 week more plus the time NFX needs to send its response in; RNS today said that Co would respond "ASAP", so say end of this week? So that gives us another 2 weeks from today, give or take? Might be sooner but RNS would come 2-3 days later an FDA approval? By which time anyway the SP would shoot up w/o us PIs knowing why!!

IMO, the SP drop today (20% appx) just because the FDA delayed its decision by a few more days indicates how price-significant any FDA approval will be.

PSniffer, so you are saying that -should an FDA approval is received - the SP should hit at least 0.50? if that's the case, there is a min. upside of 100% from this SP level.

@Trombone, "The Company will submit a response to the FDA as soon as possible using existing data and information in the Company's possession."

Even if the FDA letter " was sitting in Dan's inbox?" for a few days, I don't see it as a negative because a) the Co had to check the FDA's request b) see if they had the data for the response c) only then advise the Mkt; otherwise, there'd have probably been a panic.

What's though more positive is that the application is back on track with only the slightest of delay, IMO.

Mkt cap at 5mln, a 4% dilution tomorrow (200k), FDA decision slightly delayed for clear reasons; at this SP level, IMO, the risk:reward outlook has improved.

People were buying at +0.50 just 1 week ago.

Everyone who applied got 5% extra shares, on their existing holding @0.20; they can either sell @SP of tomorrow and make eg a 30-40% profit on that 5% i.e. 2% profit on their total holding, or just keep them and averaging down. If they all sell, it means that their profit will be even less.

Well, at least this "confusion" and the temp. SP fall allowed me to buy 5mln more shares at less than 0.29 :)))

And the 4x open offer oversubscription also shows confidence in the Co.

IMO, we are just making assumptions whether the Co could or should have foreseen the FDA's request; important is that NFX will respond ASAP and that the FDA's request will be satisfied.

Remember that Dan said that Europe is more -technically - demanding than the US - hence why they already have the data requested.

They will, ASAP; good that the FDA is engaged and in contact.

Thanks M1; the TP of 16p is on a 12m horizon?

Below means that the Co can respond quickly and that they have overcome - IMO - a similar hurdle before.

"Dr Dan Gooding, Executive Director, Nuformix, said: "We will respond to FDA using the data we already have on file, having previously had a similar query from the EMA. I remain confident the process will reach a successful conclusion and whilst we await the FDA's further response we continue to progress discussions with potential future licensing partners and will provide further updates in due course as appropriate."

FDA has responded, asking for 1 clarification; IMO, this is positive as a) they are almost done with the review b) they have not rejected.

It means that as soon as the Co provides the requested data, the FDA will issue its final decision (likely an approval, since they have not rejected it thus far) IMO.

Looks like the MMaker is placing mini trades to test the water and their systems, in anticipation of bigger volumes to come soon?

We all did, it was in the RNS :)))

Why would Dnmng commit to spending 21mln, over 5 years, out of which 2-3mln at the outset (i.e. before even 1 gram of magnetite is produced) without knowing it can secure offtake at profit-making prices?

Another 1mln into the Co's cash b/ces; 4mln so far, enough to cover all exps for next year on Zero Revenues. Let's see how the Secondary offer for the last 2mln goes.