Member Info for PC01

i think you are spot on. No doubt our SP has been hammered by speculation of what Woodford may or may not do...or has or hasnt done...but if Reneuron does what it can do, then the SP will look after itself. Big pharma will not blink at paying a substantial premium if the company continues to produce the encouraging results that has given it such a good bounce (from an idiotically low level) this year...

The glass is always half full or empty! For me, there has been a huge seller about and guess what there has been a buyer happily mopping up after him. there is no way in god's green earth that any market maker would take down (buy) the volume of stock sold...ergo, he has moved it on...whether to Richard Griffiths or someone else, I'm not sure nor do I care...the key as Dick has been saying for some time is JOG is valued at cash...or less...and we know the board is trying to do some income -acquisitive deals whilst they await the seismics...more importantly for me is the fact that Equinor would have walked away by now if they were going to...no real point hanging around if there is 'only' 25mm barrels for them...so like Dick, I actually remain bruised, battered and optimistic!

Surely not more cash flow?

now held by the 2 of them. There really isnt much of a free float these days! We also need to know the jokers have done with their shares? I'm pretty sure they are fully out but we haven't yet had confirmation...
Redeye - I think we will get another tender...in the near future...as I'm fully expecting to make an announcement re a dividend from Eroton...and if MW are paying 40p say for stock, and the company thinks 45p is cheap (as that's where they last paid for $10mm of stock) then I still think a 55p or 60p number is there or thereabouts.

Indeed Skull - as my point suggested..if we are indeed an oil producer (which i think we can safely assume we are) then a rising oil prices enables us to hedge out production at a higher price. I have no idea of our cost of production, but i reckon the operational gearing is huge for every $ higher we tick in oil price. So no insults given....:-)

The final part of the equation is simple : when a dealing desk gets an order to move a line of stock, it has a sales desk to do exactly that. Singers and all the other brokers who trade this stock, will know who the buyers and sellers of the stock are at any one time. If they get an order to sell a line of stock, the sales team will advertise the supply. So supply creates demand as it was. The buyers of CPX over the past few days may never have intended to buy stock, but a call with a 'we have a cheeky line of stock at the bid-side' frequently yields results. There is nothing weird about this, just how business has been done since time immemorial.

Having worked in the bloody place for many years (the city that is) I can assure you Singers had an order to work a holder out of stock....its expensive to write 10 trades of 200k each, so the order will have been sell 2.2mm at a set price (3.85 it would seem) and then let;s write one ticket when all done. Its how the city always used to work and how outsized orders still get filled today. As we all know, CPX has days of minimal liquidity and if you had brazenly gone out to sell 2.2mm at best we'd have seen a 3.5p print. This way he got done at his price albeit it took a few days to get done. What is depressing is why here...just another disillusioned holder I guess fed-up with waiting....I can't blame them, but having held for so long....anyway, we'll see...

That really is the most ridiculous post...we all want it to be £6...but just to brazenly post a 1-liner is what gives these BB such a bad name...there is so much to be optimistic about and we are trading at a discount to director buys / fosun deal / latest tests results for reasons well publicised...but please lets try and keep a modicum of common sense...

Because if the next cohort results continue the trend of great improvement we'll be much much higher :-)

Alaric, I'm glad your computer doesn't do rogue typing...otherwise the last 2 words of your comment could have turned out horribly :-)
War in the gulf really not ideal...but might allow for some profitable hedging....

Well there's the seller revealed at last...reckon he's been at it for last couple of days....2+mm shares...impressed the market took it down...question is if we can now start to move better...

OS - looking at the presentation I have...the half year ended Dec 2018 net cash outflow from operating activities = AUD$438k and net cash outflow from investing activities = AUD$114k, so c AUD$550k. for 6 months. This was down quite sharply from the half year June 2017 which totalled $AUD2.4mm. So i think with the cash raise, the r&d tax rebate and the fact that they will go FCF +ve by June 2020 should ensure no need for any further equity raise UNLESS and this is the big concern for me who is long at a much higher average price, they need more cash to further grow manufacturing capability to cope with order flow. But then I think thats a world class problem and just bad luck for me.

I think you and I and all of us will go mad trying to second guess what Mr Woodford is going to do, is doing and has done. He has got himself into a huge pickle and we are in unknown territory as to the legal ramifications and likely direction of what happens next. I reiterate that the majority of the holding is via WPCT which is likely, from what we can gather, to be run by a new portfolio manager than close itself down. However, the fear of a 35% holding being liquidated has now caused the SP to fall by close to 40% at a time which is unfortunate for those of us who had seen some sign of life after years of looking at a dinosaur egg! There is no level, weirdly, where the SP can go to whilst private individuals fret over this liquidation. Indeed, tragically, it might be that good news fails to move the needle as much as we would like until we have absolute clarity over this stake. But if the results are as we hope, then the company is way too cheaply valued here (market cap back at £65mm with half that as cash, a Fosun deal worth £80mm and other deals in the pipeline)...and if we trade too cheap to fundamentals, it wont be long before someone buys us...which would be much more irritating I think.

Huge volume gone thru today - 3mm+ shares well above the normal flow...seems like a big switch intra-holdings to me, don't think its buyers and sellers interacting...but methinks news not far away...

Yes it asks so many questions doesn't it -
1) All he needed to do?
2) All he could do given liquidity in the market?
3) Had to sell something and this over past 3 months been the best performer in his fund?
4) Did this come from WEIF or WPCT?

I think the key here is the deep unknown - from my conversations with some quite senior fund managers in the city, he is a dead man walking. Equity income is gone as soon as he opens it up. WPCT sounds like he will be fired from running shortly if press to be believed.
I'm afraid i think we are in the depths of the unknown concerning the short term outlook here given supply/demand, but for me I cannot sell this holding given how long I've held it and how much I believe in it. So I have to take the day-to-day volatility on the chin and hope for the best. Its a 5yr trade for me - from here - not 2 weeks. If the tech is right, then these days will be long forgotten.

Well the last results were on the 26th April - at which they said the next study of patients with 'greater baseline level of visual acuity' was going to be released in the near future...eg I think this is testing patients with better eyesight (haha - if I really understand what that means??) and seeing if the gains can be maintained...eg I think Reneuron has developed an answer to near blindness...and now they want to see if that can be transferred to help cure people like me who need glasses...now, if these cases come thru positively, just think of the market....which is why, I reckon, they are extremely important...failure in itself would not be a game-changer, as we have data that shows the near blind benefit...but success will be of a magnitude that is hard to imagine...
Now for all who read these here...this is MY opinion. Please do not in anyway take it as the correct understanding (and I am very happy to stand corrected)...but if I am right, and the trials are successful, this will be a very exciting stock to own.

Ha, well maybe...but its not a thought I have ever had! And i'm not sure with the house broker present he could make misleading statements either face to face or in the hand-out...so I assume not....I've not mentioned this before, but the one thing he did say was 'unassailable' in terms of his tech...when I asked if he ever thought any of the comp could steal CPX's place at the super capacitor table...so I'm gonna stick with it...i have bought quite a lot over the past few weeks down here in a 'if I like it at 10p and 8.5p and 6p....'...and am now 'all-in'...I like AK, I think he's an honest chap and whilst he may not have delivered in the speed we'd have liked I think we r on the cusp...there we go, jam tomorrow huh :-)

Well i think that is spot on...and exactly what we (me???) are expecting....and what is slightly puzzling is the orders referred as already received in the London meeting...so like you OS, I am looking for AK to find a few long white pointy things sitting in his top hat which he can bring out one by one over the summer months to confirm the future. but there is definitely a battle going on with 2 big funds adding (and I am now comfortably over 2%) and either shorts (be strange here?) or long term PIs bailing....

For what its worth, just bought 200k of shares at 4.09...feels to me sadly tho that someone wants out...the Allenby research report says nothing new...seems to me like the company - as per all we know - goes FCF +ve next year. Plenty of cash to live with and the normal R+D tax credit...but the company sadly remains in a state of inertia until it turns those highest ever inquiry levels into physical £££ or in CPX's case AUD$$$!

Those snakes Afa? Really? let me see...are the snakes those who :
Continually discuss ridiculous conspiracy theories emerging from the Nigerian gutter? Talk of STT having a leg to stand on despite having both removed when they agreed to take stock in lieu of debt and then peddle the lie that there was a legal court case? To discuss and peddle lies ad nauseam to try and scare shareholders into selling....
Or...
Are the snakes those who try and create a sensible and balanced discussion about the long term merits of a company that has undeniably had its problems? That try and look at how long term value might be created here? That enjoy the balance sheet of a top class UK fund who have - almost single handedly - brought SLE back from the death?
If its the latter, then call me VIPER!

Wise words from a wise and considered poster, Clive. However, it is very rare to find someone who would appear to be able to adjust quite so calmly to the swings and arrows of fortune! I think most of us on here are certainly of a 3yr and probably longer vintage so like you we have seen the lows in fortune. However, I think we'd all agree that we'd prefer the SP to be gently rising rather than going t'other way as it plays on ones emotions...is there a leak? Does someone know what I don't? Its hard enough to find the gems without having to cope with worrying who's also invested in your particular gem...but welcome on board Clive, I certainly look forward to more wisdom and clarity.
Now bounce you b5stard :-)!