Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Good Evening,
Following Mologic presentation last week I sent the following question to Walbrook:
QUESTION:
Good Afternoon Paul,
The attached link suggests that Mologic have (or are intending to) confirmed Design Freeze on the Lateral Flow Antigen test. Perhaps I am misunderstanding this as the slide (10 minutes into presentation) mentions combined antibody and antigen, so perhaps not the one mentioned by Colin in last presentation. Can you clarify?
https://www.youtube.com/watch?v=tpp8g6L5oT4
Regards
I received the following answer this evening:
ANSWER:
Thanks once again for your patience and just to reiterate that Colin has been very busy last week preparing for the investor presentation and then dealing with the high volume of questions submitted from investors.
We’ve now been able to get confirmation from Colin and his colleagues on your antigen test questions and Omega are certainly aware that Mologic are in the final stages of completing the development of the lateral flow antigen test – with the next stages being design freeze and then CE marking (by Mologic). We can’t confirm exact timings unfortunately. Omega would then need to commence technology transfer and CE mark this separately under its own brand. Colin has previously stated that this is something that could be before the end of the year, or if not in the early new year.
The slides you have sent them seem to refer to a combined antigen and antibody test. Omega has no agreement over this and has not had discussions about this potential test, although that’s not to say that future discussions might not take place.
Just thought I would share.
ATB
Red
Hi Fredd1eboy,
I subscribed this morning and I may be a bit slow but can you explain why the 7 MM's all seem to show the same volume? If I look on LLOY'S it all makes sense you can see all the o/s orders. I asked LSE and the lady did not know.
Thanks
Red
Thank you for sharing JS. Have added mine below:
Question 1:
"I would first of all like to express my appreciation to the Omega team for all their incredible efforts both as an investor and in the fight against CV19.
The questions I would like to submit are as follows:
1. I anticipate that following the call on Wednesday (presumably including an update on increasing capacity) Finn Cap will be in a position to issue an updated Broker Note indicating significantly higher (based on developments and expansion since their previous) potential SP (even if this is in the form of low to high range). Please confirm
Question 2:
2. Can you advise how Walbrook’s performance is determined? Are their formal measures they have to adhere to?
Vascular,
I can confirm, that as stated by Safy the 97.7% is MHRA compliant. I checked with Walbrook and suggest if you are still not comfortable you e mail them too.
BR
Red
Hi Symbo1,
Yes you are right......I just liked the idea of ODX being in the news all weekend as I got more and more drunk:-).
I'd also like to see some RNS/s advising more II's onboard because as you say we will no doubt see a lot of selling into the rises.
ATB
Red
No Problem.
Yes that is my hope, preferably in a monster RNS released at 16:31 this Friday!
ATB
Red
Good Morning raharh,
With regards to MOU I asked the question to Walbrook last week.
Q. "The MOU is due to expire on 9th October I believe? Presumably there will be an RNS before then to confirm extension or Govt agreement?"
A. "You’d either see an announcement either confirming the renewal of the MoU or a formal agreement that would replace the MoU, yes."
BR
Red
MB, thank you for your posts.
You raised question that we did not know about the resource position (i.e. were they manned 24/7). I enquired last week about this directly in relation to the investor presentation.
Q. "The presentation also shared information regards the use of the placing funds to grow capacity. While it is extremely helpful to have volume data it would also be useful to understand the resource position. For example was the production data based on a full and even 24/7 shift structure (i.e. the site will be operating at maximum resource capacity), or is it possible the Night shift is not manned fully and the site closes on Sunday?".
A. "The production capacity data is based on 5 day a week 12hr shifts (7am-7pm)."
This may have changed now in view of the weekend twitter post but at the time of the presentation (which I believe your forecasted sales post referred to?) this would suggest the potential to significantly increase production by increasing shift spans and/or weekend shifts albeit taking 3 to 6 months to recruit and train. Thus sales increase (subject to orders) and reduced CPU/improved profit.
ATB
Red
I asked the following question last week about II's and include the answer below.
Q. After the presentation we were invited to submit questions. One I asked was whether any company activity is being undertaken to specifically attract new institutional investors? With L & G reducing their holding this week it reminded me of what I consider to be an important consideration in growing the SP.
A. In terms of attracting new institutional investors, a number of new institutional investors were introduced to the Company as part of the marketing by their institutional broker ahead of the Placing and Open Offer. finnCap continues to focus on educating institutional investors on the ODX investment case and as I’m sure you’re aware produce regular research on them which they market to these institutions.
Re. L&G, it’s worth pointing that the most recent Holdings in Company announcement was as a result of the finalisation of the sale of L&Gs Mature Savings business to ReAssure. The ODX shares have been transferred as part of that process and are now no longer held by L&G. However, these are still managed by L&G Investment Management so you can see from section 9 that LGIM still hold the voting rights (6.00%) so there has been no significant change in holding.
ATB,
Red
Good Evening MB and thank you for your posts.
I understand the shifts are only 0700 - 1900 and 5 day week, which would suggest significant potential to increase.
I think we need to be considerate that if they were to look at increasing resource it may well take 3 months to recruit, train and I don't know what the infrastructure is like for e.g. housing and people re-locating.
ATB Red
Good Afternoon and thank you Gents/Ladies for your respective responses.
I agree this would be classed as a FM event and I even agree/admit that I am probably making an issue about nothing (and apologies to all if this is the case) but, conversely it could also be argued (I suggest) that it is easy for it to be confirmed that the BG have acknowledged (as part of those discussions) this is an FM event.
Anyway I'm sure (well maybe 90% sure:-) ) all will be OK and wish everyone a great weekend/future successful investment.
ATB,
Red
Good Morning,
I posted the following in June and said I would share if I gained a response. After 4 attempts the reply received yesterday ……. “AIM rules restrict us from providing any detail outside of that which has been provided in our rns of 25 March 2020”.
I am disappointed in this response and while I like to think the BG will not dispute that this is a Force Majeure event it did not seem unreasonable to have that confirmation
ATB, Red
14 Jun 2020 09:29 POST (below)
Good Morning Starchild,
Thank you for your posts.
I contacted BPC (early last week) regards licence extension following Force Majeure notification and received a response on Friday.
I was referred to the 25th March RNS but they added....
….."The Company remains in discussions with the Government of The Bahamas as regards the specific period for which the licence term should be extended per the legal provisions within the licence agreement However, as the state of force majeure remains to date, with approx. 3 months having passed since the declaration was made, the Company is confident that the extent of the licence extension shall be sufficient to allow for the execution of Perseverance 1 within the planned timeframe as outlined in our rns of 26 May 2020.
As regards your query on insurance, all corporate insurance coverage remains intact and the Company will activate (incept) the drilling specific insurance cover that it has arranged, referred to in the industry as Well Control Insurance, in advance of the commencement of drilling activities.”
I was not entirely satisfied with the response (perhaps this is just me) because I asked for confirmation that the B/Govt had accepted there was a case of Force Majeure (I believe there is such a case but like to have peace of mind) and e mailed them back. My 'logic' is that while they refer to discussions they did not actually say yes it is accepted and we continue to have dialogue until the time-lines are clearer (i.e. virus gone/controlled).
I just thought I would share and if I get a response I will post again.
ATB
Red
Good Morning Starchild,
Thank you for your posts.
I contacted BPC (early last week) regards licence extension following Force Majeure notification and received a response on Friday.
I was referred to the 25th March RNS but they added....
….."The Company remains in discussions with the Government of The Bahamas as regards the specific period for which the licence term should be extended per the legal provisions within the licence agreement However, as the state of force majeure remains to date, with approx. 3 months having passed since the declaration was made, the Company is confident that the extent of the licence extension shall be sufficient to allow for the execution of Perseverance 1 within the planned timeframe as outlined in our rns of 26 May 2020.
As regards your query on insurance, all corporate insurance coverage remains intact and the Company will activate (incept) the drilling specific insurance cover that it has arranged, referred to in the industry as Well Control Insurance, in advance of the commencement of drilling activities.”
I was not entirely satisfied with the response (perhaps this is just me) because I asked for confirmation that the B/Govt had accepted there was a case of Force Majeure (I believe there is such a case but like to have peace of mind) and e mailed them back. My 'logic' is that while they refer to discussions they did not actually say yes it is accepted and we continue to have dialogue until the time-lines are clearer (i.e. virus gone/controlled).
I just thought I would share and if I get a response I will post again.
ATB
Red
I use I.I. and if I buy on a T20 (settlement in 20 days) then it would show the same and I would need to go into Closing Trades to sell. May obviously not be the same issue you have but just thought I'd mention it in case because you said you bought recently it may not have cleared yet? BR Red
Thank you for sharing, but what I don't understand is that (to the best of my knowledge) with a 50%+ rise a company is obliged to make an announcement anyway, so why would they say they did not think it was necessary? Maybe I have misunderstood.
ATB
I don't honestly know if the SP will ultimately achieve 3p but if all prospects come good would expect between 2 and 3p.
However I would anticipate (as mentioned by ST las week) and today by Ice that a share consolidation will take place and hopefully attract II investment and/or there is a sale of one of the assets. But as Heid has said expect potential to be achieved next year.
Very much appreciate the posts here and on twitter and wish everyone good luck here and best of health.