Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
it’s in the open. it was a **** show. alan has gone, tony will go. it’s only a festering sore in your head. the ceo will be looking forward not back and slating alan and acknowledging he made bad decisions does her no good. yesterday’s waffalesque answer (a final tribute, it was like he was in the room…. maybe he wrote the script as it was scripted) showed that it’s not going to happen. move on. if you can’t, meh, stew on it forever.
What detail do you want? They went to the market and said they wanted to raise. The market said certainly sir, please bend over and relax, this won’t hurt a bit. The detail is in the video with Paul Hill, the funds wouldn’t stump up without that level of discount and because Tony and Alan don’t know how calendars work it was left too late to do anything else.
It’s done. The money is in the bank. We were told yesterday it should see us through to 2026 - although that assumes that Tony can add up, so maybe it’ll only last until ‘mid summer’.. They have at least a year to do a deal or extract cash from Dx. The huge potential beyond that is still there.
Today's presentation made it clear that the platform works and it's dox that's only failing for indications where it's not suitable as should be expected. That clearly suggests they're switching the pipeline towards the most potent of warheads and looking to demonstrate the advantages over ADCs. Perhaps ava3996, given it's further down the line might be something they can license sooner rather than later. Personally I'm comfortable with slow and steady, batten down the hatches, get ava6k to the market and use that cash to accelerate. At some point it'll steamroll. Pleased to see them talking about Dx generating cash to help fund Tx - that was one of my questions. It was great to see that their emerging strategy is being led by the data and the proving up of the platform. As mentioned on the webinar the pathfinder has been a success.
"they raised too late". You've just answered your own question. Alan blamed difficult market conditions, Chris can blame Alan. It's irrelevant now. Some wanted heads to roll, one has gone, I'm sure there'll be another. Lingering on Alan's mistakes is pointless now he's gone.
Too many chiefs, not enough… are we allowed to say this kind of thing nowadays? Anyway, I wouldn’t say no to a tightening of costs to get AVA6k commercial. Do they need a load of R&D spend for a large pipeline right now. Start building an empire once the foundations are in place. Tut, Chris needs to go…
Yeah, she'll need to backfill. Hopefully a focus on getting ava6k to commercialisation by 2026 then start thinking about further development. Ava3996 will do nicely for now, stay streamlined and meanwhile get the licence deals flowing. If the 2026 timeline is realistic, then now is a great time to be buying. A profitable self sustaining Tx platform has to be worth a few bob.
Usual rules apply for the 2 week progress, someone might have popped their clogs so patience is needed. Hopefully Chris understands how a calendar works and can start giving more realistic confident timelines
Could have been in play for some time. Easy move and get out by CC, use Alan and fling him under the bus for the raise - no explanation needed. Oh, the previous leadership was terrible, sold us short, I won't be doing that...
Stop biting. Ignore it.
Back on topic. Bye Alan. As has been said, I imagine that CC has been in charge of strategy for the platform since her arrival. I'm pleased to see the shumper wearer out the door, thanks for getting it in the clinic, it's time to move on. Next up, TG out, she'll need to backfill and strengthen the board, decide what to do with Dx and continue the Tx progress. Good luck to her.