Member Info for LTbeliever

We'd be getting some updates soon on CTM reagents production, unit sales etc? According to this TP Note (FWIW, a bit dated from mid-Feb), things should start improving from H2 onwards:

https://www.turnerpope.com/wp-content/uploads/2024/04/1.-MicrosaicSystemsplc_19-2-2024_FINAL_BG.pdf

Some potential sources of cash/revenue:

1. Tax credit refund - 250k (but potentially eaten up by an LSE fine of up to £300k? see link to a similar case:

https://www.bclplaw.com/en-US/events-insights-news/london-stock-exchange-aim-company-public-censure-and-fine.html

2. 5 units shipped/invoiced b4 Y/E 2023, so maybe the £262k invoiced has been received already?

3. pipeline of 19 units at Y/E 2023, so potential sales of another 5-10 units in H1 2024???

4. £500k (see TP Note, page 2) from Qatar re installed (in 2022) CTM units' reagents?

5. other MicroTox reagent sales / consumables to existing base of MW clients?

6. Sulphate Reducing Bacteria Test kits ("SRB Kits")- "quality checking initial production of SRB Kits in the coming weeks, before making them available for purchase".

Quoting from the RNS re 2022 Results, "the Directors have included the expected cashflows arising from the acquisition of the trade and assets of Modern Water, which is expected to be cash positive within the next twelve months" i.e by Y/E 2024.

Also in H2 24, we should get the conclusion of commercial testing of ProteinID and PFAS detection technologies, with possible licensing deals.

Current Mkt Cap of 1.8mln is probably equal, or less than its Cash!

Note - my comments are for existing, well under water Holders (who already know about GJB's shenanigans etc) so please let's try to keep the BB on a positive footing.

GLA, DYOR

Spread tightening, usually a good sign.

I already have, hence my post :)

0.5025 to sell, so I reckon the 2 x 1 mln at 0.51 are actually BUYs; plus, we are still getting those 0.59 trades.

Seems something's brewing?

GLA

Seems that N Slater took some profits?? Sold about 0.80% of the Co.

Not really because they are all Board Members so all decisions are discussed and agreed beforehand; the other 2-3 big holders did not participate for their own reasons (eg small amount, too much fuss, planning to invest more when the EPC is signed etc);

99,

Fund raise was not unexpected IMO, it's been flagged in various RNSs since last summer; Yes, Chairman will still get his Shares at 0.38p on 13 May, that's how Placings work.

"among other matters" might actually mean, news about the EPC's signing? Just a thought.

IMO, this is not related because the GM meeting stated:

"As explained in the Fundraising Announcements, completion of the Fundraise is subject to the Shareholders approving certain resolutions (including for the purposes of ASX Listing Rules 7.1 and 10.11) to authorize the issue of new ordinary shares ("New Shares"). David Hathorn, Chairman & Interim Chief Executive Officer ("CEO") of the Company participated in the Fundraise via two separate trusts of US$75,000 each, which, if approved at the General Meeting, will result in the issue of 31,093,883 New Shares of US$0.001 each in the Company. Accordingly, the General Meeting is being held to seek shareholder approval of, amongst other matters, the issue of the 31,093,883 New Shares at an issue price of 0.38 pence (0.74 Australian cents) per New Share as described above for Mr Hathorn."

And let's also remember that similar validations are taking place since January from the Top5 Pharma (for another product); and sometime in calendar 2024 (as per Co Presentations in March), the Neuro-Bio lateral flow test will go into development.

No numbers announced, but Apta still receives fee-for services, it's not doing this for free; plus, more contracts flow from such successful development, both from this Top15 pharma and also similar pharmas. IMO

In any case, this is good publicity for APTA, likely to bring more business in.

And let's not forget the Chinese chipped in 10mln (getting slowly back half of it) in anticipation of the EPC, I think this shows their willingness to take the project on; plus, remember that at least 50% of production will be offtake for the 2 main holders, with deep pockets (Oman state and the Chileans); maybe other players too, meaning the debt portion of the project could be 500-600mln; I assume 2-3 Chinese banks could easily cover this part.

New CEO last week, funds raised to see Co through, various small cautious steps towards the goal; after 3 years of delays, postponements, disappointments, I'm guessing that their sole focus is on getting the EPC contract properly finalised/signed without worrying about taking 1-2 weeks longer; the main shareholders know what's going on and they definitely don't worry about jittery PIs. Just a matter of when now, not if, IMO.

GLA

RNS 28 March,

"PowerChina delivered its Engineering, Procurement and Construction proposal and draft EPC contract on the 6th of February 2024. The Company and PowerChina are now working towards signing EPC contract in Q2 2024."

Hopefully, with the Q1 24 operations' update, we will get some clarity on EPC's signing; before, they had stated "by end of April", then they said "in Q2 24" (i.e. from April start to June end)!

Good to see someone, with deep pockets, mopping up shares at these low SP levels bit by bit; and see the stake rising slowly upwards.

A share BUY would be executed at 0.59?

Could this be a delayed settlement (eg from a month ago, when the SP was around that level)?

Could this be a partial execution of a bigger BUY Trade?

Any other ideas?

Note that EML is impacted negatively by the severe drought affecting Morocco, which is probably why the Moroccan authorities hesitate in giving them the permit to start the mine.

KP2 does not have such issues.

It'd seem that the Board has made lots of promises to the new CEO, including that his shares will be worth a lot more in 3 years' time; although it's still early days, these small steps indicate that the Board is trying to build the Company up.

I think today's RNS is another positive sign, albeit time will tell.

New CEO on Monday, we'd have the Q1 2024 Report in next week or 2, and of course the EPC RNS (I hope) any time soon?