Member Info for marbellamike

I would doubt that it would be Our Promate product. Unless we have set up product implementation and support resources?

I picked up this document from a search on Bid Stats
It demonstrates that disputes can be resolved through the legal process.

Settlement Agreement
Source: Contracts Finder
Published: Fri 04 Jun 2021
Closed: Tue 24 Nov 2020
Ecolog was originally intended to be one of the partner brought online to meet the Test and Trace capacity targets.

Health services Ecolog Settlement Agreement deed of settlement services agreement part of hm government emergency response letter of intent hm government laboratory tests laboratory units
2 month contract, ended Jan 2021

award: Ecolog International Fze£38.5M

DETAIL
Department of Health & Social Care T&T
London
1 supplier
Ecolog International Fze
London
Description
Ecolog was originally intended to be one of the partner brought online to meet the Test and Trace capacity targets. As part of HM Government emergency response to the Covid-19 pandemic emergency, Test and Trace entered into a Letter of Intent with Ecolog in September 2020. This Letter enabled Ecolog to mobilise and equip laboratory units to provide diagnostic (RT-PCR) testing for COVID-19 to meet targets for numbers of tests performed. As the programme progressed, HMG decided not to proceed with the Services Agreement with Ecolog; this Deed of Settlement was signed to discharge all obligations under the Letter of Intent and reimburse Ecolog for costs incurred. The costs relate to the costs of equipment delivered, laboratory tests undertaken pending the execution of the contract and mobilisation costs. This notice relates to the Deed of Settlement concluded between the parties after some services and equipment had been provided by Ecolog.

Award Detail
1 Ecolog International Fze (London)
Value: £38,477,491

Taking legal action is a very costly process for both parties so I would expect that negotiations over Contract details have been ongoing?
This legal action must have been an extremely difficult decision to make so the company must have hit a brick wall with the negotiations.
Interpretation of contract details can often be misconstrued by both sides!!
They must feel that they have a very strong case to take on the NHS and there could be consequences Win or Lose for future business with them could be significant. Let’s hope that a reasonable compromise for both parties can be reached?
GLA

That’s a great find Deas. The amazingly low prices you quoted are based on travelling from Jersey!
I’ve emailed them to ask if they operate in the Uk too. It clearly demonstrates that PCR tests can be priced much lower.

I picked up this Article from 2014, Makes interesting reading on another positive day for Novacyt

Leading Pfizer and AstraZeneca shareholder BlackRock wants the megamerger

by Arlene Weintraub | May 23rd 2014

Four times Pfizer ($PFE) has made offers to buy AstraZeneca ($AZN) and four times, the U.K. company has said no. But the world's largest money-management firm hopes in this case no doesn't mean no. BlackRock--which owns 8% of AstraZeneca and 6.8% of Pfizer--is encouraging discussions between the two companies, according to Bloomberg, which cited anonymous sources.

As AstraZeneca's largest shareholder, BlackRock could carry considerable weight in the ongoing bidding process. To review, on Sunday Pfizer hiked its offer to a fourth and "final" figure of £55 ($92.67) a share, about $117 billion, which AstraZeneca quickly rejected. Since then, other AstraZeneca investors have stepped up to pressure the board to take the offer more seriously. Among them was Legal & General, AstraZeneca's 6th largest shareholder, which sent a letter to the board earlier this week urging takeover talks with Pfizer.

The ranks of dissenters seem to be growing. AstraZeneca shareholders AXA, Schroders and Jupiter Fund Management have all publicly blasted the company's refusal to meet Pfizer at the bargaining table. And yesterday, AstraZeneca shareholder Grantham Mayo Van Otterloo, which holds a 1.3% stake, said it wanted new talks between the two pharma giants, according to Bloomberg.

"We're very disappointed that AstraZeneca management has not agreed to terms we think are beneficial to the shareholders," Thomas Han****, co-head of Grantham, Mayo's Global Equity group, told Bloomberg.

Novacyt’s Sales success is plain to see from their last RNS.
From such a small Job Company with cash flow issues just a few months ago, their achievements in a Global Market is simply Stunning!!
It’s not their fault that the NHS is struggling to roll out the much needed wider Testing but they are slowly getting their act together.

https://www.irishcentral.com/news/irish-coronavirus-test

This is the link to the Assay Genie Article in the Irish Times last Week

Irish company Assay Genie has developed a 15 minute test for the coronal virus.
This may well be the Company who are now distributing their Test throughout the NHS, Europe and Retail outlets such as Boots.
If this is correct it will definitely be a blow for NCYT but it is a very expensive test at €699 euros Each retail. No doubt the NHS and other countries will negotiate a much lower price.

The current direction of the management is very similar to the one that was adopted in 2011. The testing process will be long drawn out and will require more and more cash and where will a partner emerge from to fund the development of the infrastructure necessary to extract large quantities of oil and ship it out?

I remained as a positive investor for many years until everything began to unravel.

Definitely down to a share consolidation that was voted for at the June 9th AGM. Look at the RNS.

In Tomco's half yearly report they reported just under 600k in the bank as at March 2015. Other than any Salary and other expenses should be minimal after counting in the cost for the departure of Paul Rankine. They currently have no other sources of income but annual listing on the AIM only costs just £6,250 a year. I guess Suspension is a distinct possibility once funds reach rock bottom. I would be very disappointed to learn that the Directors emoluments are still being paid at previous levels?

The price of oil is still falling yet there is no reduction in production as demand continues to fall too. The major oil producers are still pumping out loss making oil that will no doubt have a serious impact on alternative oil companies like Tomco. It just doesn't make financial sense to invest hundred of millions in projects like ours when there is plenty of surplus stock available at rock bottom prices that may well yet slip further? Sadly, there is no sign of the outlook changing in the near future!!

The 5 million is an investment in the Red leaf ecoshale capsule development project. I would expect that any return would be dependent on the overall success of the commercial oil production. Timescales could of course change if the price of Oil remains stable throughout 2015 at a price that makes Oil Shale a viable source of oil. Obviously, us longer term holders like me are feeling very vulnerable just now but we may see a chink of light at some point in the next 18 months?

Due to the state of the Oil Market, Red Leaf has slowed down the construction process of the Ecoshale Capsule. Completion of the project is now estimated to be towards the back end of 2016. This is not great news as Tomco funds will run out before a buyer for their leases can be found? Unfortunately, I can foresee Tom's shares being suspended at some point in the coming year?

We are still waiting for the Ground Water Permit. More work was required following last years submission. No recent news about what stage of site development work has been carried out by Red Leaf on the actual construction work of the Eco Shale Project.

It could be some time before all of the objections are dealt. Living Rivers the Environment Group has objected and they may threaten legal action too? On the plus side Utah Gov have already approved the Red Leaf application that Bodes well for Tom' approval!

Based on past knowledge, Once the 30 day Public comment period has passed. Utah Gov will begin dialogue with any individuals or body who has lodged an objection. There is no actual time limit set to resolve these matters. Living Rivers actually succeeded in delaying Red Leafs Discharge Water Permit application by a whole year in 2012! Interestingly, if Tomco's permit is fully approved they will be the first company in the USA to hold an unrestricted large mining permit as Red Leaf's in only valid for the Ecoshale commercial test project! My guess is that they will receive a restricted approval permit on similar terms as the Red Leaf Permit approval? Also, they still need to obtain their own Discharge Water Permit that will be subject to the same procedures?

I spoke with the Utah authorities 2 weeks ago about this matter. They will accept Bond installment payments on the basis of how much land has been mined and needs reclamation work on a year by year basis over a 5 year project. This means that a fairly small initial payment can be negotiated to have the mining permit granted. Any actual reclamation costs would be borne by a an Company who acquires the Tomco leases and then mines the oil shale utilising the Eco Shale Capsule technology. In reality, this is a straight forward negotiation process that must have been agreed before Utah advertised the 30 day public comment period? So to be absolutely clear Utah is not expecting a $6 mil up front payment!!

Sorry a typo error on my last post. I type too quickly and there is no edit facility on this forum..... Once the dust settles we should See a positive move up?

No I don't Sage! That will be a confidential negotiated amount agreed between DOGM and Tomco management. The main cost of the full surety bond would relate to actual acreage mined once work begins on site. Of course Tomco's leases are effectively up for sale once all permits are fully approved! Once the dust settles we should she a positive move up?