George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Probably learned the lesson from the following
07-Jul-22 07-Jul-22 Buy James Wakefield 117.00 GBX 7,000 43,839
25-Mar-22 25-Mar-22 Buy David Allmond 231.00 GBX 43,500 43,500
Not a single director buy since July 2022 tells the entire story.
Val I am a long term holder. And noone is buying, clearly. Down 6.3% at time of writing due to yet another RNS with zero substance. Unfortunately buying in here now, whether old or new investors, is literally like a spin at the roulette table.
Makes sense really EX given that the PD side is dying on its knees. Looks like 3/4 months of YG revenue is not far off 12 months for the rest of the business. Very interesting to see what happens at the top as it is clear that there isn't room for JM and LR.
Strategy
The Company is focused on leveraging its core strength and expertise in cell-free DNA applications to deliver long-term sustainable growth, by increasing market penetration and international sales of key products, expanding its portfolio, and pursuing strategic business development opportunities to build a global molecular diagnostics business.
They must have been playing business cliche and jargon bingo when composing this. Unless Chat GPT did it. "Chat GPT, we are a diagnostics business, please write a 3 line buzzword summary which has absolutely no substance whatsoever"
Fair enough HC, and I agree about no rerate and I suspect we'll just drift down now towards the 30's as we approach June. Like you say it's much of a muchness. Lack of forward guidance isn't a surprise, first 6 months of the year is likely a write off and then hopefully we can kick on if the court case actually goes ahead and we get a netural or positive outcome.
Indeed, therefore 60% has gone on Mullis, cash burn and dispute costs. Some £34m. The fact we had £100m makes that sound insignificant but as you often point out most similar companies have debt and no cash - viewing it like that makes frittering 34 MILLION pounds look horrendous. In the space of what, 3 years? Horrific mismanagement.
Presumably it’s just traders looking to drain as much as poss out of the SP ahead of June in the hope of getting a nice bounce if there is a positive outcome. Add that to zero news from the company, no idea when full year results are out, large cash burn, huge losses. Add that together and you get a dwindling share price.
Wouldn’t surprise me if the government delay the court case until after the election and then they can blame labour (if they get in) if the outcome goes against the dhsc
Hopefully not, no news is good news. H1 is a write off due to the dispute and even then if it’s not unfavourable there’s a load of work to do. What worries me is that with a new CFO in place JM is clearly done so what incentive has he got to drive forward the company now? Feels like it’ll be total inertia until a proper CEO is in place.
Yes but also all it takes is for them to spend 2 years on very expensive research which yields no fruit and were potless again. Dispute aside, it’s a really precarious time given the total lack of progress and willingness to support the share price.
Just don’t get the unrealistic ambition. Without YG we’re going to be posting in the region of £5-6m revenue, most likely, and heaven knows what the 2023 loss will be even after the downsizing of the cost base. There’s just no money coming in.
You think we’re going to rise by circa 400% after the dispute? A dispute that we may just settle on and call it quits, at worst go out or business or at best get maybe 40-50 million in the bank? Wed still be at under 100m cash and a massively loss making business.