Member Info for scotpak

Indeed, agree with all your points. Talk wont get these shares up. We need some "show me the money" type newsflow on Nigerian receivables, Chad Arbitration. Also we need some news linked to the hiring of new auditors and a commitment to improve accounting controls and a promise that future accounts will come with a "true and fair view" sign off.

Also we need that GENCO bond issued. Disappointed on why the nigerian govt are dragging their feet here. Nigerian USD sovereign bonds trading at super low yields, couldn't be a better time to issue.

Adding here, but looks like lots doing the same so price coming back up. I got 1.1m at 1.15p

How likely is gallium maltolate to get FDA approval?

Copilot said:

Gallium maltolate (GaM) is currently not FDA-approved, but it has made notable progress toward potential approval, particularly for treating glioblastoma multiforme (GBM). Here's a breakdown of its current regulatory status and the likelihood of future FDA approval:

✅ Current Regulatory Status

Orphan Drug Designation (ODD): GaM has received ODD from the FDA for both adult and pediatric glioblastoma. This designation supports development for rare diseases and offers benefits like tax credits, user fee waivers, and 7 years of market exclusivity if approved.

Fast Track Designation: GaM has previously received Fast Track status, which facilitates expedited review for drugs addressing unmet medical needs.

Breakthrough Therapy Designation Application: Imaging Biometrics (a subsidiary of IQ-AI) has applied for Breakthrough Therapy Designation based on promising Phase 1 trial results, including a median overall survival of 34.1 months, which is significantly better than the standard 14–15 months for GBM.

🧪 Clinical Trial Progress

Phase 1 Trial (NCT04319276): Completed enrollment and is transitioning to data analysis and Phase 2 planning. The trial showed excellent tolerability and preliminary efficacy in relapsed/refractory GBM patients.

Expanded Access Program: GaM is available for compassionate use in patients who do not qualify for trials, indicating confidence in its safety profile.

📈 Likelihood of FDA Approval

While it's impossible to predict FDA decisions with certainty, several factors increase the likelihood of GaM eventually receiving approval:

Positive Indicators:

Strong early clinical data (especially survival benefit).

Multiple regulatory designations (ODD, Fast Track, Breakthrough pending).

Novel mechanism of action targeting iron metabolism in cancer cells.

Oral administration and ability to cross the blood-brain barrier.

Good safety profile in Phase 1 trials.

Remaining Hurdles:

Phase 2 and 3 trials are still needed to confirm efficacy and safety in larger populations.

Manufacturing and regulatory compliance must meet FDA standards.

Funding and strategic partnerships are being explored to support further development.

That paragraph from the other board should be used as the starting point of the Q&A at the upcoming Coffee Morning in Dec. Hopefully will meet some of the posters from here. Last time was held at canary wharf in london.

Yep, cant argue with anything stated from that post from the other chat.

I know Sarah (from IR) and AK definitely read these boards so hopefully they will be fully aware of what needs to be addressed.

Howdent, like u and many others, I'm pretty disappointed with how things have gone. Suspended for years, I would have been far better off having invested in the likes of Nvidia, google etc etc. However, I think if the receivables/ chad arb comes through, and they can improve their accounting control/ reporting, there is a HUGE multibagging opportunity here, and prices like 6p, 12p will be left in the dust. AK's confidence could be mis-placed, but there is also a decent chance he is backing his confidence with huge share purchases for a reason.

As to why a placing was needed, there could be several reasons: 1) to bring in long term institutional S/Hs to replace those gone 2) to bring in investors with strong links in nigeria that may help get acquisitions over the line &/ or help get bills paid 3) bring in S/Hs with strong banking relationships who may help get loans refinanced.

Important to also remember SAVE shares were suspended for a very long time. Key anchor investors were needed to keep things steady, given the rapid exit of many SHs and with mkt positive key events like payment of receivables and chad arbitrtion still very far away.

On no 2, shares had been suspended for a very long, long time. A large number of shareholders placed SELL orders in advance in prep of the relisting day. Im pretty sure this included a large institutional player who was forced to sell as fund had closed down whilst stock was not trading. As placing was to be done based on secondary opening price, 7p was that price. Pushed down aggressively by the huge SELL orders in queue to be transacted. Obviously there were a huge number of annoyed shareholders, but in defense of the CEO, he has continued to buy very material amounts subsequent to that time, and now owns a huge 15% of the entire share capital.

You are correct. Someone (an EM sell-side broker) gave me a 6.4/6.0 figure. I didnt realise he meant the book was $6.4bn for the 2036 and $6.0bn for the 2046. So yep added together that is $12.4bn so ties in with the article you posted.

So as pointed out earlier Nigeria issued a $1.1bn 2046 bond yesterday and a $1.247 bn 2036 bond . Thus $2.35bn in total. Orderbook size for the bond deal was $6.4bn so alot of demand out there for Nigerian debt .

Hopefully this is a good sign that Nigeria are able to do a 2nd bond offering of $2.6bn to satisfy the genco debts.

Https://leadership.ng/n6trn-subsidy-debt-power-generation-firms-seek-clear-payment-framework-from-govt/#:~:text=Power%20Generation%20Companies%20(GenCos)%20in,debt%20burden%20suffocating%20the%20sector.

Power Generation Companies (GenCos) in Nigeria are pressing the federal government for a clear and sustainable payment framework to address the alarming N6 trillion debt burden suffocating the sector.

The delay and lack of transparency are exacerbating the liquidity crisis, threatening the commercial viability of power generation firms and casting doubt on Nigeria’s ability to stabilise its electricity supply industry.

Dr. Ogaji emphasised the urgent need for a comprehensive framework to tackle both legacy debts and ongoing payment challenges to prevent further collapse of the Nigerian power sector.

In an exclusive interview with LEADERSHIP, Dr. Ogaji issued a candid appraisal of the unresolved financial crises plaguing the power generation sector.

She said that nearly four months after a crucial meeting with the President in July 2025, the GenCos remained in the dark about critical bond issuance plans intended to address mounting financial pressures.

The debt crisis in the electricity market stems primarily from a chronic liquidity shortfall that has plagued the power sector for years.

GenCos and other power sector players are owed massive unpaid invoices and legacy debts, which have ballooned to over N6 trillion by 2025 due to tariff shortfalls, weak revenue collections, and delays in government payments.

This financial strain has caused gas suppliers to cut supply to some power plants, further destabilising the national grid and pushing Nigeria to the brink of widespread blackouts. Efforts to alleviate the crisis have been hindered by a lack of clarity and follow-up on government commitments, including the proposed bond issuance to cover the debt. Despite government promises and partial subsidies, the sector continues to suffer from inadequate funding, operational inefficiencies, and unclear payment frameworks, leading to an ongoing crisis of confidence among investors and stakeholders in Nigeria’s electricity market.

“There is no clarity at all on the bond since July 25, 2025, when the GenCos’ investors met with the President.

“We hear they are working on it, but when will they finish? When will it be issued? We are in November, and yet there is no clarity. Given that N4 trillion was allocated for 2024, an extra N2 trillion is accumulating with no visible sustainable plan to stop the haemorrhaging. There are more questions than answers,” she stated.

The liquidity crunch and growing legacy debts continue to threaten the operational viability of GenCos, with Dr. Ogaji emphasising the urgent need for an effective, comprehensive framework by the federal government.

“What we need as GenCos is a design or framework that can deal with solvency — legacy debt — and liquidity — payment discipline,” she said.

Hi All

Sally from IR got back to me and said they plan to hold a retail investor coffee morning in December. Date yet to be decided.

Nigeria look very likely to raise around $2.25 billion today by issuing USD bonds. Now this IS NOT the $2.6bn debt that will be issued to payoff the GENCO company debts, but if successful (is done quickly, with books oversubscribed, and at a good price) then could pave the way for a 2nd deal to payoff the GENCO debt.

Nigeria plans to raise $2.25 billion selling eurobonds on Wednesday that will be used to fund the West African nation’s budget deficit, investment bank Chapel Hill Denham said.

The two-part offering will target 10-year and longer-dated debt, the Lagos-based firm, which is the joint lead

manager for the offer said in a statement, confirming a Bloomberg News report of the planned sale.

Read More: Nigeria Dismisses Trump Threat to Proceed With Eurobond Plan

“We go live today,” Lanre Buluro, managing director of capital markets at Chapel Hill, said by text message on

Wednesday.

The bond sale, the first by Nigeria since it raised $2.2 billion in December, was briefly delayed after US

President Donald Trump threatened US military action against Islamist militants in the country for what he

claimed was the Nigerian government’s failure to prevent systematic killings of Christians. Trump also

threatened to cut off US aid.

“Investor engagement during and post-the World Bank meetings in October were constructive and supportive

of an issuance,” Chapel Hill said in its statement. It expects “strong interest” in the sale, “Trump tweets notwithstanding.”

HX

Are u actually short SAVE stock? Curious to know if it is actually possible to short such an illiquid aim stock.

If u arent short SAVE, whats your motivation to post hear? Are u worried about strangers on the net losing money? Are u just a good samaritan?

I have emailed Sally at SAVE IR on when we intend to have our next investor meeting/ coffee morning etc. Said it was a key requirement given everything that is going on (SH chgs, receivable newsflow, accounting issue etc etc).

She usually replies quickly to me if she is around, and I did neet her at the coffee morning earlier this year. Will flag here when I get a reply.

In reply to komakino, yes it was that FB post.

Last paragraph interesting : (from 30 oct) The Federal Government of Nigeria has approved a ₦4 billion bond to clear outstanding debts owed to Generation Companies (Gencos) and gas suppliers in the nation’s power sector.

The move is part of a broader effort to stabilize electricity generation and restore investor confidence in the energy market. The bond settlement is expected to ease liquidity pressure on operators, improve gas supply to power plants, and enhance overall power generation capacity across the country.

Further details on the disbursement plan and beneficiaries are expected to be released by the Ministry of Power and the Debt Management Office (DMO) in the coming days.

Just fyi, Nigeria bonds have hardly moved this morning, maybe some being marked down 0.5 points max. Thus market dismissing Trump's recent nigeria headline.

Sounds like a mess. Why take over another company that was plagued with payment delays from its creditors? Dont SAVE have their hands full already with existing assets? SAVE dont need another swelling receivable balance or another arbitration. Acquisitions, should be focused on assets which generate decent free CF, have good growth prosects, but are not plagued by payment delays. If such assets cannot be found, so be it, because SAVE already have their hands full with existing issues. Receivable balance needs to be addressed, arbitration process seen through, new acquisitions grown, and of course their is the hugely important matter of sorting out the accounts and supporting auditing controls which are a complete mess.

Agreed on the committee front.

Fingers crossed for all! :)

The power minister seems to be making the following point: Yes, let address and clear current outstanding debts, but lets also ensure that future payments are made on a timely basis so we do not get a repeat of the past when debt balances become unsustainable.

Thats what I'm getting. Dont think there is any signal/ sign from this article that suggests payments are going to take alot longer than expected.