George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Cracking interview .
Expect further FDA designations soon ( applied for already we know)
Its easy to forget , but its only at this stage in the trial that Faron finally get to see proof that Bex is still doing its job ( not fading away) . I think that certain interested parties wanted to see that proof . As he says , negotiations are intensifying .
Well done for keeping the faith Santhi . No more scares from now on.
There's always a little bit of fear when you don't know exactly whats going on , but after the other days presentation , I'm even more optimistic and excited for the coming years .
The market want's reassurance that the business will be able to reach milestones .
The AGM puts that in place .
I was going to wait until after AGM to top up , but had some at £1.33 .
I'm fortunate that I've got cash on the side , and I appreciate others don't , or are deep enough in .
I know its a pain to look at the SP , but my priority now is how many shares I own , not what they are worth today , cos I know in a year or so they won't be £1.33 .
the ipf fiasco was addressed immediately . the ' hiccup' was all it was . markuu takes full responsibility . all sorted , in as much as business as usual - until next fundraise . fair play for at least admitting it was a **** up .
moving on..
the rest of the presentation was very encouraging .
ok they will be needing to fundraise after agm - details to follow ( shareholders given some kind of vote on how they would like it to happen ? )
but i think that we will shortly be seeing some very good data on bexmab prior to the agm ( next week he suggests )
also looking towards a bidding process later in year for bex liscencing /partnerships . there are multiple interested parties .
fast track / breakthrough status applied for in aml/mds
new sites
bexmab data is looking so good that markku doesn't expect much resistance from fda in accelerating bex to market .
they only had 7m shares to play with this side of agm - hence the delay in fundraise .
details of agm should be out soon.
what will the sp be like at the fundraise . hard to say . higher ? lower ? rights issue ?
some good news to sway things . we are at very low level given what is coming .
You can log in here -
https://faron.videosync.fi/q4-2023
Usually you can fire in questions as soon as it starts - and they will quite often answer them if they are straightforward enough .
No new info yet on Bexmab today then . Perhaps they want that on a separate day - get the financials done with , and any awkward questions ( I hope they get some ) - then move on with positives .
The excellent BEXMAB data have intensified numerous ongoing partnering discussions, and we are looking forward to advancing these discussions over the coming year.
None of this work would be possible without the ongoing support from our shareholders, to whom I express my sincere thanks. And to my colleagues on the management team, and the wider Faron community, thank you for your continued commitment to making this Company's vision a reality and bringing the promise of bexmarilimab to patients.
Faron have 'Orphan Drug' Status for Bex . This could accelerate the route to market for AML/MDS.
They plan to apply for BLA in early 2025 .
FDA could recommend a rolling P2/3 study - small numbers - low relative cost - then finally - They start getting income !
That changes the game a bit .
Hopefully the market will see this as a great opportunity .
Is it to do with some kind of resolution being needed to be passed at AGM ( maybe relating to possible rights issue ) , or is it because they have raised the max amount this year permissible on Aim , or so much so that they can't do it this financial year , and need to use next years allocation ? I could be wrong , but I think that's the most likely reason .
Plus it bought them a bit more time to get the Bexmab update presented - I'm hoping they do it this week - would make sense .
Now in the Event Diary on Faron website :
A virtual briefing and Q&A session for investors, analysts and media will be hosted by Dr. Markku Jalkanen, Chief Executive Officer, and James O’B rien, Chief Financial Officer, today, March 13, 2024, at 12:00 PM (GMT) / 2:00 PM (EET).
Show less
We will be sitting here until the bridging loan is arranged ( 5m) - then no doubt interested parties will be keen to get involved in the next raise at the best price possible ( will it be the full 35m , or half and half ) . I'm maybe expecting one big raise - but with major input from interested big investors , along with LLS maybe . But we are already at basement level price .
No doubt the Bexmab update will be a cracker - so then its down to how much they can keep the price down for the fundraise vs how many want to get in . Like I said before - if it goes a bit lower , no great shakes unless you need to sell . Try to ignore the SP - and be glad that we are actually going to make progress - towards a much brighter future .
Reminds me of listening to Rick Rule , that precious metals windbag , who I like anyway , talking about risk and how he now invests in safer companies etc , but was reminded by his wife that the reason he is where is he is today , is because he hit it big investing in very risky companies . As many millionaires will tell you , you only have to strike lucky once ( I'll tell you that when I get there )
Sounds alright to me .
Short term loan ( over 600k via Timo ) - gets the shackles off - so that Faron can get on with business .
Then - they can organise the fundraise - which will get P2 finished and packaged with FDA recommendations for a P3 .
35 m required .
Pretty much as expected - to see them through 2024
Unless a non dilutive partnering deal is done .
Good to see that there is support - Timo won't let this ship hit the rocks until he sees a profit thats for sure .
Nice of Markku to make a token gesture too . This is his baby .
So roll on Bexmab news , and AGM .
There could have been a lot worse news - this means we are going forwards .
Maybe what needs to be appreciated is that Faron are still at the cutting edge of an unknown science . Clever-1 up until now has no track record to speak of . Faron have been the only ones to identify it , and work on their thesis , and to prove that up . Matins gave them a huge amount of information . But at every stage they were learning more - and actually giving themselves more headaches ( remember soluble Clever 1 ? )
Possibly they were hoping to strike it lucky on one cohort in MATINS as a monotherapy on solid tumours , but despite good data , nothing was big enough to force a BPs hand .
What it did help do was give them biomarkers , and proof of the IFNy connection etc .
Bexmab data then gave them a huge boost again in proving that Clever-1 was key . Given a clear shot at the right patients - it is proving beyond any doubt that it is clinically effective .
But we have to remember again that if Faron had sold out/partnered 1-2 yrs ago , it would have been at a paltry amount compared to what it is becoming worth now . This is where the patience comes in . That's why we have seen a build up in management and infrastructure . The high profile BOD appointments .
I follow plenty of very promising looking companies , and you could say the same thing about many of them - surely if it was this good , someone would have bought them out or made an offer by now ?
I'm coming to the realisation ( finally ) that the % of companies bought out for a dream price tag is very much the minority . More common seems to be the situation where they run out of money and perish , to be picked up for peanuts , or even just ignored despite having huge promise ( don't disrupt the market reasons ) .
So that's where we are at the moment .
Until Faron start generating cash - and standing on their own two feet - they were always going to be open to attack ( and I think that's what this was ) .
However- they are very close to getting Bex to market in some shape or form , and investors will hopefully see how once that happens , the future pipelines and developments will become hugely derisked financially .
As for sentiment - I guess that will have to wait until March 13th or the next RNS . Market is very fickle in the short term , but all will be forgotten if the SP doubles no doubt .
Slight relief seeing this move up I can say . Still at a silly price - but maybe this hint of a rights issue will mean that instead of selling down before a placing , investors need to be holding or coming in . I guess you can sell your rights , but its not like the usual raise . Once the ship is steady - its back to business - which before Armageddon was looking pretty promising ! ( and I'll finish the week on a ! )
Seeing a slight uptick in the last couple of days . Not big volume , but I wonder if a few are now starting to accumulate shares should a rights issue occur . Given that the SP sunk by pretty much 50% , the air has already come out of the bag . Small discount from these levels won't be permanent - but you have to be in it to win it as they say .
I know its galling Drac . Fundraises are always one step back to make 2 steps forward , but so long as their isn't any mischief by Faron , the March day should lay things out , and if theyve got any sense , they'll pump the b'jesus out of the proposition up until the AGM - with Bexmab updates and potential values . Just having some clarity and confirmation that Faron will be able to proceed should stick 80p on the SP before they even start the book build . We are only at £1.25 because of the uncertainty ( he says with glass half full lol )