Member Info for Muck165

Yup, and I imagine with a lot of competitive tension

I wonder how many licensing/partnering options there are…..

Exciting times indeed.

Found this paper from August this year interesting, particularly the intro at section 1, and section 2.

Simply re-iterates that if AVA6000 can continue to demonstrate the safety and efficacy reported in STS patients to date, then we will have cracked a nut that people have been trying, but failing to crack, for half a century.

https://www.frontiersin.org/articles/10.3389/fphar.2023.1199292/full

Apologies if already posted.

Lovely article.

The stars, being the data, the language, and the opportunity and market landscapes, do seem to be aligning don’t they.

As an aside, I found AS suggestion of selling of the diagnostics division as a potential funding avenue interesting, particularly given how early we are in building it. The fact he even felt able to suggest it speaks volumes about his confidence in the Tx arm, or at least I thought so.

You could well be right ASI, but unless Mercuria have sight of better numbers than us then it doesn’t seem to me that AP has a great hand to play in those negotiations.

Possibly, but again only imo and more because of politics than anything else, the prospects of any U.K. based, rather than Russian or Chinese companies, mining in Zim right now are close to zero.

But then I suppose it might all depend on how fat the brown envelope is and how savvy you are about who you give it to.

Ah…so I think you’re saying that even if recovered the diamonds won’t cover the debt, hence why share issues haven’t breached the Chair’s statement? Seems a pretty weak argument to me, unless I’ve misunderstood?

We agree, however, that based on the stats you kindly post, the diamonds won’t cover the debt.

FWIW, this seems to me to be the current position;

1. We owe at least $8.4m and are overdue.

2. If diamonds are recovered, we are still likely to have a debt shortfall

3. We have very limited authority to raise more capital, which may or may not be enough to cover that shortfall

4. If Diamonds are not recovered, debt will need to be dealt with by renegotiation or re-finance, or paid from profits + capital raise. But then current profits (if any) + current raising capacity would seem insufficient. If none of this proves successful, lenders will call in the debt by enforcing security.

5. Alteranatively, BP and Tj profits are stonking, or diamonds are worth more than we both think, in which case everything will be fine and the SP will soar.

Honestly, I hope it’s number 5 but I’m glad I’m only in here with play money.

ASI. “…out of the realisation of the historic claims”.

Given what you say, is it therefore your view that realisation of those claims will certainly cover the debt? If not, then how do you square the Chairman statement?

Worth noting as well that in their June begging letter, which lets remember was all couched as a means of giving comfort to the lenders, the Chairman wrote;

"The new equity share capital for which authority is sought in order to demonstrate the ability to repay Alpha and Mercuria will only be issued in the event that the obligations to Alpha and Mercuria cannot be met out of the realisation of the historic claims referred to above."

So either they really do have confidence that diamond recovery will meet the debt, or they lied.

Authority was given in June for the company to issue up to 2,947,644,142 further shares.

Since then we have issued 1,419,000,000 (933,000,000) of which was confirmed today.

That leaves 1,528,644,112, which at todays placing price would amount to just over £2.7m. Certainly not enough to cover the debt.

Funds will be used to cover unforeseen operational costs following the strike action? I thought those costs were covered by revenue, albeit delayed?

Noting again that our first annual report to the FDA Office for Orphan Drug development is due by 5/11. I don’t think it’s necessarily required to be a detailed report but nonetheless it should demonstrate by data the significantly enhanced benefits of AVA6000 over Dox.

Firework night too!

I'm assuming the patient with "significant", "large, very large" tumour reduction remains on treatment? Just imagine if that reduction continues...

Might explain why Fiona M, in the panel discussion, thought Fap targeted theranostics was the area likely to see significant growth over the next 7-10 years.

Inert, until it encounters Fap!

I think that’s precisely why AS was at pains in the interim presentation to say preCision is a drug delivery platform not a drug. I’m certainly hoping that the chemistry might be used to render many drugs inert, some of which may have previously been dropped in trials because of safety/tolerability issues, and others now in development.

As long as any drug is designed to attack a high Fap expressing tumour, then it seems to me that our chemistry is likely to improve safety and tolerability, at the very least, and will probably increase efficacy.

All the RNS said was that Vast are talking to its lenders about getting extension. I'm sure that's happening hence why the Nomad will have allowed the RNS to say so.. Whether they get another extension is another matter entirely.

Anyone know what the debt is currently? I think it was $8.4m but I have no idea if it remains so.

An interesting one that. Olaratumab (Latruvo) was granted AA but 3 years later US and EU authorities revoked its marketing authority because a phase 3 trial showed no advantage to adding it to Dox.

Not a scientist, but does make you wonder if it might work better with Pro-Dox and, if so, whether Eli Lily might be one pharma giant following us a little more closely.

Charles Archer talks about Avacta from 45:50 in this podcast. Nothing we don’t know but gives a flavour of what potential investors might be hearing. As we know, Charles is very much a fan!

https://ukinvestormagazine.co.uk/premier-african-minerals-tekcapital-and-avacta-with-charles-archer/