The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Based on section E.4 of the trial document below there will be no participants who have been infected greater than 24 hrs.
https://www.clinicaltrialsregister.eu/ctr-search/trial/2020-001023-14/GB
Therefore in that case the ACE issue (if there is an issue) doesn't come into play and results should be positive.
This was thought about when the parameters of the trial were produced.
I'd prefer it if they were sells. The SP is where it is.
If they are sells they are likely to be from the placing at 35p and they can only sell once. When these clear there will be no stopping this in reaching a higher spring board before the results.
Announcement 13 January 2020:
(Alliance News) - Tiziana Life Science PLC on Monday said it intends to cancel its shares from trading on the London Stock Exchange ahead of its plan to redomicile in Bermuda.
The biotechnology company announced an intended redomicile from London to Bermuda by the second quarter of 2020. It is therefore seeking shareholder consent for its shares to be cancelled from trading when the move occurs.
Tiziana says it intends drop its shares currently traded as American Depositary Receipts on Nasdaq in New York but have its Bermuda common shares traded on Nasdaq instead.
The company's shares on AIM were 30% lower at 36.10 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
Can anyone more experienced in these things suggest reasons why FS Carrick would need to carry out numerous 10hr regular runs back and forth to Peterhead if it was a duster. I appreciate that ASCO is there to service the drilling platform, but surely they cant keep forgetting the equipment etc required!?
On the issue of an overly conservative PFS my post yesterday explains that it was based on a area near the border, less supported by tin credits and thus in the PFS the balanced costs look higher than the overall costs for realising the total mine area.
It is then interesting to note the following:
A month after the PFS the RNS dated 25/5/17 stated infill drilling in Cinovec south (the other end of the resource) is commencing and expected to add high grade resource in critical areas where mining will start. The results will be utilised during the DFS program to optimise the current mine plan.
In the RNS on 16/8/17 we were told that the results to date of the infill drilling showed significant tin mineralisation ie more credit to the bottom line cost.
In the RNS on 2/11/17 we were told that the final results of this drilling show excellent strong lithium mineralisation and significant tin and tungsten contents in critical areas where mining will start.
In the RNS on 28/11/17 we were told about the further increase in indicated resource in Cinovec South where initial mining is planned so they can be used in the ongoing DFS that is progressing well.
In conclusion therefore, it is obvious that the PFS was overly conservative, taken from 5% of the resource in the north of the site. Since then and for the DFS they have concentrated on Cinovec south which will include for the credits of the 'significant tin and tungsten contents'
I think the figures in the PFS will be irrelevant when the DFS is reported.
Hi taufour,
I posted this shortly after the PFS:
Whilst comparing the scoping study and recent forecasts based on it, all opex and revenues are similar if not better in this PFS.
The difference lies in the revenue credit that the PFS reports on the tin. The PFS only reports a credit of $29m pa for tin instead of the $94m pa in the scoping study. Both studies assume the same price of tin of $22500t, so the difference is in the production pa of tin. The scoping study assumed 4200tn annual production of tin which gave the overall cost of $1500/tonne. Based on the revenue credits given for the tin in the PFS they are only assuming a production of 1300tns - ( Although I can't find this figure in the PFS). This obviously makes the difference in the overall cost / tonne, as you are not getting the same level of credit.
They can scale up the tin production easily to make the Cost of lithium production per ton go back down to 1500.
In the PFS the study is based on the high grade lithium ore near the border. If you have a look on the resource map it shows the Sn and W mineralisation at the other end near the hill, presumably more towards where the plant will be. So therefore higher Li grades, lower Sn/W grades for this part. Remember only circa 5 percent of the total resource has been used!!
It is interesting that the PFS went for a high grade lithium part of the mine, but because of this the cost was less supported by tin credits, so balanced costs look higher than the overall costs for realising the total mine area.
IMO the figures used in this PFS are extremely conservative and there is much more to come.
Simon_Said
'Now the political storm is over the market will start to look here again and realise why this is such a remarkable opportunity. I know I always harp on about this but the sheer scale of this project is just not understood by most. If one thing positive should come from the political crap we've just finished going through, it should be that the scale here is large enough that it was an election issue in a major European democracy! This ain't no ****y little AIM dig, this is a national scale project.'
Above dead right.
This from a Czech article a few months ago which I can't find now but took a note of its content:
In the Czech Republic, negotiations are continuing with the project partners to create a domestic integrated chain of Lithium production and processing, including communication with regional government partners. This means thousands of new jobs for the Czech Republic not only in the mining and processing of ores, but also in downstream high-tech industries. This will significantly support the employment and restructuring of the industry not only in the Usti region but also throughout the Czech Republic. At the same time there will be significant development of Czech science, research and education system.
The goal of European Metals Holdings Limited is to create a complete chain of lithium production and processing in the Czech Republic, bringing thousands of new jobs not only in the mining and processing of ores, but also in the downstream high-tech industries, which will significantly support employment and industrial restructuring in the region, but also throughout the Czech Republic. At the same time there will be significant development of Czech science, research and education system. Negotiations with partners take place according to plans, including communication with regional government partners.
Yesterdays article:
http://ceskapozice.lidovky.cz/novela-horniho-zakona-zvysuje-statni-kontrolu-tezby-nerostu-p6q-/tema.aspx?c=A180627_144849_pozice-tema_lube
Important extracts:
'The mining fee will no longer be changed every five years, but every year and every time it is reversed from current market prices, of which ten per cent is the upper limit of the fee.The miners will therefore have to report to the ministry how many scrapers? were worth and how much they sold'.
'The government has already decided that all strategic raw material deposits will be investigated next and will only benefit from the state-owned company Diamo'.
BUT THE MOST IMPORTANT PART:
'The final fulfillment of the story on the strengthening of the state is the current amendment and change of the raw material policy. "According to the survey, in the context of super-strategic and some other raw materials, such as critical raw materials of the EU and also tantalum, zirconium, titanium, gold, lithium and uranium, the state-owned company Diamo should be doing", Ministry spokeswoman Štěpánka Filipová told LN. IT DOES NOT APPLY RETROSPECTIVELY, so the lithium deposits under the Ore Mountains will not touch the new privileged position of Diamo'
This is also reiterated by the following article earlier this month:
https://archiv.ihned.cz/c1-66158050-prednostni-pravo-k-tezbe-ma-mit-stat
'Diamo then stated that "increased state involvement (participation) could currently be based solely on an agreement with EMH - Geomet"
Ah that's the reason for the difference in valuation. CR not in western Europe. Thanks.
Is this rise based on the article in the weekend papers stating SAV have the biggest lithium mine in Europe? They only have a resource containing 94,100t of Li2O with only 75 percent interest. EMH in the Czech Republic has has a resource containing 7mt of Li2O with 100 percent interest! The author of that article in the Sunday papers stating SAV had the biggest lithium mine in Europe hasn't done his research and is wrong by a factor of at least 70! SAV Market Cap 100m EMH Market Cap 30m
and another: https://www.finance.cz/511000-arca-chce-valnou-hromadu-emh-zada-pokrok-v-tezbe-lithia-u-cinovce/
Savannah resources? Why? They only have a resource containing 94,100t of Li2O with only 75 percent interest. EMH has has a resource containing 7mt of Li2O with 100 percent interest! The author of that article in the Sunday papers stating SAV had the biggest lithium mine in Europe hasn't done his research and is wrong by a factor of at least 70! Let's forget all the tin EMH has for the time being! SAV Market Cap 70m EMH Market Cap 30m
Yes antelope correct. I'm bored of stating this but maybe we need to reiterate the following, which was the last time the Government discussed the issue: (Other things are taking priority for them at the moment). https://echo24.cz/a/SH8Xw/vypovezeni-memoranda-nevadi-emh-pokracuje-v-planech-tezby-lithia Australian company European Metals Holdings (EMH) can continue to prepare lithium mining at C�novka. According to today's statement of the Ministry of Industry and Trade (MPO) for CTK. The resort stated that the right of priority mining has a particular deposit for the person carrying out the survey. In this particular case, EMH and its subsidiary Geomet, respectively. On the question of why the Czechs had denounced EMH a Memorandum of Understanding, MIT spokeswoman �těp�nek Filipov� referred to Tom� H�ner's (on behalf of YES) resignation of the Minister in the resignation of Tom� H�ner. He, among other things, said he wanted to end the misinterpretation and speculation that took place around the memorandum. "The right of priority mining is not related at all to the Memorandum dealing with cooperation in the extraction, processing and sale of this product. EMH is currently conducting a lithium deposit survey, evaluating the effectiveness of its potential mining, and how it decides under Czech law whether it will continue not only in exploration but in subsequent mining. To the EMH, the Ministry of Industry and Trade behaves like any other company under domestic law, "the Office said today.
Hi earache, I'm not sure I agree with you entirely, The reason Babis has put us in that 'box' is because his first priority is to form a government and he needs the backing of KSCM to do that. He doesn't need the risk of upsetting them. I'm not saying that we will be first on their agenda once the Government is formed, but they will be aware that they need to get on with things soon for the good of the economy. The fact that we have been put 'in the box' at this juncture (with all that is happening politically), is telling. They have received all the analysis and legal implications months ago. Babis could have easily put us 'in the bin' and closed the door already, if that was his intention in the future! It's the forming of the Government that is the delay and people are chasing other stocks elsewhere until that happens. It now looks like it may be soon.
Now, according to Pavl�k, the company finishes the technical documentation with the documentation for the study of the environmental impact and the groundwork for the territorial and construction management, in order to obtain the permit. Part of the documentation for the mining section of the project will include refinement drilling and semi-operational metallurgical tests.