Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Mind you I assume the 300 products needs testing and adding and that’s labskin. A nice issue to have.
It seems a little premature if this is accurate as there wouod be 60k/month capacity this side of the pond and US maybe needs more. This year we have done around 6,350/month on average.
From Feb 21 RNS -
Home Test processing capacity is 20,000 per month in each of the UK, Ireland and US laboratories with more gene sequencing equipment being installed in the US laboratories in Q2.
It’s not just about revenue, we can get to £50m on revenue but if costs are at that or above we will struggle to pay the high interest loans. That’s why we are valued as we are.
There is a lack of transparency here and the market doesn’t trust GB. Hopefully that can be rebuilt with detailed and unambiguous RNSs.
I suspect a licensing deal will arrive once 3000 data published. I can’t see a licensing deal for 3996 until 3000 data is out there which (if data is good) will mean we get a much better deal as the platform de-risked somewhat.
Smeeno, what’s your estimate for H1 revenue and profit or loss?
Yep it’s positive he mentioned KPIs but we’ll see when they’re introduced.
Loads of tiny PLCs give a july trading update so crazy we don’t.
No worries but it’s another example how we don’t behave like a grown up PLC. He has released snippets. Same old I’m afraid. Read last year’s update and look at what’s been delivered.
Most PLCs provide one in July for H1 then publish interim in Sept with more detail. Look at BIDS and NCYT today for 2 examples. GB has been releasing separate little updates. We should behave like most others and issue one.
We do so in Jan ahead of the annual report.
Was looking to see if we had a H1 trade update as most PLCs do in July and we had an update but without H1 revenue/loss.
If we think we should be valued higher we should behave like a PLC with a higher market cap and have proper H1 trade updates.
Anyway, here are some bits which shows how poor delivery is -
As well as processing capacity for 20,000 units in the UK by Q4 2021, preparations are underway for the same volume for the US market, expected to launch in H1 2022. In addition, Labskin is completing development of ethnic skin model testing which will enable a similar volume of 20,000 units per month in China targeted for launch in H2 2022 in 5 major cities (Shanghai, Beijing, Tianjin, Shenzhen and Guangzhou) that have a combined population of c80m.
Microtox(R) PD wastewater project
-- Successful first data transfer of detection of SARS-CoV-2 via Microtox(R) PD units has completed with unidentified clients from installed units in undisclosed locations (under strict conditions of NDA's).
-- Final housekeeping/validation involves duplicate timestamped samples for independent PCR testing with third party lab and includes deeper data integration with Strathkelvin Instruments[i].
-- Planning manufacturing at scale in negotiation with China Resources for rolling out at national level via Partners, Dell Technologies, EPS Group
-- Beyond the success of current single pathogen target chips, multiplex chips to begin testing for multiple targets that include SARS-CoV-2, Norovirus[ii], Pepper mild mottle virus (PMMoV)[iii] in wastewater.
China Resources
Since the announcement of the signing of an MoU in the RNS of 28 April 2021, complex commercial and legal negotiations and detailed due diligence between the parties has been underway. The scope of the original Joint Venture has been extended beyond what was originally contemplated. However, both parties are actively seeking to reach agreement as quickly as possible. The timeline of signing an agreement has been extended into Q4, 2021 due to the additional elements being added to the proposed agreement. See editor notes[iv] for further information.
An absolute disgrace to award them when there is no clear plan and the share price is 85% down on the last raise. **** take.
I think labskin would have contributed some £3.75m in 2020 (MWG revenues only for 6 weeks and total £4.4m).
Is the skintrustclub £1m including marketplace sales as well as money customers pay for tests? I guess it actually does and wirh over 20,000 active users that seems unimpressive unless a high proportion of the 20,000 didn’t pay for their test.
From what I gather the £1m is purely from the market place sales that launched in Jan. That’s impressive. Lord knows what their RNSs are so poorly written and ambiguous.
The testing revenue comes under labskin. I suspect the margin of £1m could mean £250k to the bottom line.
Well that is poor if we have 20,000 paying users. At £50/test that’s £1m.
Anyone know how the £1m was generated? From selling via the marketplace (money straight to our bottom line) or customer tests/swabs through labskin?
Is the £1m from just product sales (we get a decent cut so bottom line), so say 80% of the 20,000 customers spent £62.50 on products to make the £1m? Or the 20,000 customers spent £50 on getting a test? I’m confused.
What would be good is a trading update (unaudited of course, like the interim) covering all divisions so we can have an idea of total revenue and how near we are to break even. Labskin must be doing pretty well given the number of products it is testing for skintrustclub marketplace as well as normal labskin growth. I assume some of the modern water orders will be fulfilled H2 but still we could have a H1 revenue of X and losses X but H2 orders of X so we can have an idea where we are.
I’m not sure why they’re releasing divisional updates separately when they could have one chunky update with more detail and transparency.
Thanks T-rat, not sure how I missed that!
And good news re the orders! Keen to see and be able to vote on resolutions so a little odd these have not been uploaded soon after the annual report was.
Hi GB, when will the form of proxy be issued?
So the BoD was up for re-election in 2019 so 3 years later they are up for re-election this year. They should have the AGM circular and proxy up ASAP.