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No RNS.
Patience is required if you are a patient in need of AZD1656.
It looks like we have some new, more excited holders (dare I say, who might fancy a little ramp).
Most long term holders need north of a 100% uptick to get back in profit.
The BoD are still enjoying an extended holiday (that started about 18 months ago).
On a brighter note: every day passed is another day closer to news!
Happy Friday
That's a fair point. In simple terms they have given up to the 30th September but potentially should be issuing a notice of extension each month up to that point?!
It would be nice to think that the deal is done and its just taking a few days to get the paperwork finished before issuing an RNS.
Looks like the buying activity has been balanced out by a decent size sell at 16:09. I wonder whether that's what has been holding us back a little while it was worked. Either way, nice to see a bit of volume changing hands.
We are technically covered up to September as per the results RNS, however, they must surely be near to finalising a deal. Shareholders are completely in the dark on timescales for completion, sale value (both Coos Bay and CZN as a shell). As previously stated in the chat we only need a few million quid overall and we are back in business with the shareholders standing to make a bit of money (well deserved after the length wait).
Amati have taken 6.65% - https://www.lse.co.uk/rns/ENSI/holdings-in-company-9ab8b3ejtxl0i0i.html
That's a vote of confidence.
You will need to bring together shareholders with a collective holding in excess of 10% (the more the better) and likely want to engage with the company via a suitably qualified legal professional.
I am not a big fan of the comms channels utilised by the BoD (or lack of), however, most holders wouldnt be as fussed about the comms if we were trading at higher levels. We just need a bit more good news and a quarterly investments update that shows growth so new holders are motivated to get involved and help give the SP a boot up the backside.
Funnily enough I was just looking at Interactive Investor and you cant presently buy ENSI. It may take 24 hours for everyone to catch up, hence why the SP has been a bit flat today.
I know some were expecting a decent rise this week given the relatively small free float but that can only happen if there are purchasing platforms available to retail investors.
Either way, VELA are up at this stage so no worries from me. I just hope we see ENSI rise a little over the next week and the BoD take the opportunity to top slice early like they did with KNB.
Give it time! As per my earlier post, it wont take much for shareholders to be back the BoD if we see some success with Ensilica and WeShop in the short term with Aeristech due to list later in the year.
We have a good mix investments that have been largely ignored due to SGS (that news could drop any time but its a complete guess as to when).
I dont think it even needs that. Provided Ensilica goes live and the SP stays levels or goes up it will show the BoD can pick a winner which should help with shareholder confidence. Its also a great opportunity for the new PR agency to earn their fees and get word out that VELA have backed a winner.
I am a little surprised we havent seen some upward movement in the last week given we are at bargain basement levels despite it being public knowledge that we have Ensilica IPO on the radar, WeShop is looking good and AZD1656 is still potentially worth a few quid (although that news could land any day, any time).
Who doesn't love the thought of a surprise multi-bagger :)
Even if Coos bay is flogged cheap for a few million our MCAP stands at £775,000 so we are in for an instant multibag + whatever value is appointed for the RTO which at this stage is a complete secret it turns out.
My only concern is the amount of debt CZN have accrued over the last 2 years. The BoD are going to need a million or two just to clear that before shareholders get their slice of the cake.
Its more likely a website security issue or someone has not renewed their hosting package on time.
More than happy to be proved wrong with a mega news announcement.
Could do with some good news. If I keep needed to average down it wont be long until I am obliged to put in an offer for the whole lot :)
Considering VELA have £750k invested in Ensilica we should see a bit more positive action towards the end of the month which means only one thing..... time for a little top up to bring down the average (fingers crossed its the last one).
Fair play. The MM's are certainly giving themselves the best chance of a profit. I am surprised to see any top ups going on at the moment with a 15% plus spread at times. Surely they are not trying to de-centivise buyers!
Substantial organizational progress was made on the proposed RTO, as well as operationally and organizationally at PPL. Reflecting this progress, and after the year-end, the Company extended PPL's exclusivity rights to allow it additional time to complete key business development discussions with international PET manufacturers and certain global CPG brands, prior to undertaking the proposed RTO; currently targeted for the latter half of 2022.
and
In relation to the Company's coal bed methane project at Coos Bay, the conflict in Ukraine has led directly to both short and long term increases in natural gas prices, with European countries in particular, looking to develop alternate sources of energy including imported LNG from North America and the Middle East. The war is also driving increased construction of new modular nuclear reactors and increasing reliance on renewables globally. Notwithstanding that Coos Bay is currently earmarked for disposal, such global factors make it a potentially more valuable asset in this environment, and one that may well deliver this value through a transaction timed with the completion of the proposed PPL RTO.
You should be fine Bowlers with 0.4. Its the holders stuck at 1.4 that are likely feeling the burn a bit.
Vela will come good in the end. It looks like our patience may be tested just a little more before then.
Glad to see a PR agency on board. I don't see any downside to it given they are typically hired to create and distribute news that make organisations look/perform better.
Its a shame the BoD cant provide a better update at least indicating what is holding up play.
The copy and paste monthly RNS's are getting a bit boring!
Any one trading aim will have seen this before. Super quiet with no meaningful volume until a nice bit of information/RNS lands, closely followed by a significant re-rate. Its just a matter of time (hence why I have taken a few extra little top ups in recent weeks).
VELA still has cash in the bank (hopefully to be invested very soon) along with a news due on a couple of fronts (including SGSC/Igraine).
That was pretty much my logic when taking my last top up. Why would the BoD chuck a load of money into Igraine if AZD1656 was a dud. Its career suicide.
I stand by my comments from a few months ago that one of our biggest issues was the amount of hype around SGSC and the short term investors hoping for an overnight success/instant profit. When that unsurprisingly wasn't the case the traders stated selling off to chase rainbows elsewhere which drove the SP downwards. In the last few months its just been a steady drip of investors moving on due to a lack of meaningful comms from the BoD (although the last few RNS's have been better)