The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Ticking up again quickly in the US now. Currently circa $4 so about 64p equivalent. Personally think the, as yet unnamed 'global pharma', will buy us if the trial is successful. 'Try before you buy' type strategy. Think we'll see a big rise if and when the global pharma is named.
Indeed we don't hence why our shares are currently valued at 5p-6p a share. However what we do know is:
- that we have deferred rent for the period March-June
- have/are benefitting from business rates relief
- have furloughed a majority of staff
- that our directors have taken 'significant' pay cuts
- that we have a very strong balance sheet
- and that our Directors are seemingly very confident about our prospects
Given the above, I'm prepared to speculate that our cash balance remains comparatively healthy and that there is a significant upside to our current share price.
Good luck and as always DYOR
This should go much higher today. Only one MM left on 5.5p ask the other 4 now on 6p or 6.25p respectively.
Currently valued at cash or thereabouts and the 'brand' alone must be worth £20m-£30m. Expecting an RNS confirming 'reopening' imminently.
Good luck and as always DYOR.
66.5% of shares held by directors and a further 18.6% by significant shareholders so free float is potentially circa 14.9% which equates to only 18.3m shares., hence why it moves very quickly with any buying pressure.
Don’t think they can place below 10p a share...might be wrong but the ordinary shares had a nominal value of 10p upon admission. I think they’re more likely to get bought out...£4m a year in recurring revenue at a 73% gross margin is an attractive proposition.
Yep but good to see they’ve introduced cost cutting measures that will shave over £3m off their cost base. If they maintain this it will only take a couple more deals to take them into profitability in the next 12 months. Personally think the current market cap @ £1.8m is far too low, and should be nearer the £5m mark, so approx 16/17p per share....possibly more depending upon how sales go post the new product launch in July.
Will be interesting if there's another TR1 prior to the 26th. They won't get the 75% of votes required to push the delisting through now and I wouldn't be surprised if an offer for the company comes in from Richard Griffiths and Co.
Good luck and DYOR.
I suspect a 'Results RNS' will follow in the next week or so as this is what Craig said on the 'Results of Placing RNS' on 7th May
'"It was pleasing to see this raise oversubscribed demonstrating the growing support for the Company in the UK capital markets. We look forward to updating the market in the coming weeks on the results of the Stage 2 exploration programme at Wudinna'
Far easier to raise at a lower price pre news would be my guess hence why they pushed it through quickly via book build. Personally I’m far happier that they raised now rather than post news and think they’ve done well to do it at 2.25p. Aside from warrants, there’s now no further dilution expected in the short term...unless there’s very good reason of course. Interesting that the 1m+ trades at the end of Friday were at a 20% premium...bodes well for next week.