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This was always the risk after the first outstanding drill hole. All these new holes are uncommercial and the news was slipped out during market hours.

Am expecting a little drift as now must await second phase drilling to prove up the main case, and the extent of that main case will determine the value of the gold here.

A short period of uncertainty and delay and likely some hot money awaiting today's results will leave for a bit. Good prospects though.

"As a rule-of-thumb many geos look at grammetres as to whether or not a drill result is interesting. Simply put, this is the grade multiplied by the width....An intersection of 10 gram-metres may or may not make it. An intersection of 50 gram-metres is pretty good; of 100 or 200 gram-metres is pretty gosh darn good, and anything higher becomes exceptional."

http://www.straighttalkonmining.com/who-wants-to-be-a-billionaire/

Bear in mind that:

1. the guy who wrote the article is Keith Barron, who founded Aurelian Resources Inc, which was sold for $1.2bn in 2006 - he knows what he is talking about;

2. this article / comment was made in 2004, when the gold price was around $420/oz and major gold discoveries have massively tailed off since then too. One could probably significantly reduce Keith Barron's figures in 2018, but we don't need to do that...

We can even ignore all the gold they found other than the 11.5m at 21.23g and within that ignore the copper too. That one gold intersection alone is 244.1 gram metres, which is according to Keith Barron, exceptional.

*The best buying opportunities are when the share price and sentiment are low

[post was curtailed as too long]

*that

I hope hat shareholders are going to start waking up here. I appreciate that there has been significant dilution in recent times and that the talks have for a long time not come to fruition, however there are very strong indications in the past few weeks that the corner has been turned.

Recently, VAL has confirmed:

1. By RNS, excellent 401 data
2. By RNS, stating that they are in "advanced conversations"
3. By Video Interview, confirming that there have been "legal negotiations"

Whatever has happened in the past, it is quite clear that VAL is now at a stage where commerciality is, in the next 1-10 weeks, a real possibility. Companies do not state the word "advanced" without having good reason for stating it and the company's advisers would have had to ensure that the comment was accurate. Usually "legal negotiations" means that terms are being discussed. The conclusion may not be guaranteed - they may not agree terms or the terms could be contingent upon certain things happening. But this is a significantly more advanced step that being in discussions with someone and suggests a good chance of a deal being struck in the coming weeks / months.

This turning of the corner was apparent to those such as me, with fresh eyes coming into VAL for the first time. I hope that the change in Align Research's position from activist to supportive of the company, also persuades even the most hardened cynic at VAL, that change is likely on its way.

The risk, remains, as before, as further dilution. The downside is therefore say a 1/3rd hit on one's investment with funding at 2p. The potential upside I think is, conservatively, 1-5x bagging on a 401 licensing deal. All depends of course on the terms reached. The risk reward ratio is therefore very attractive to me and the evidence suggests that even IF dilution happens of say 7-8%, at some point in the next 1-10 weeks a deal will be done and the price rise should dwarf that. I of course hope that there is just the licensing deal.

It is this risk reward ratio that makes the investment case here strong. Of course, there is risk and no promises can be made. But the very favourable risk reward ratio is what Align also confirm today as their concluding point:

"That the company has potentially very valuable products with material market penetration opportunities has never been in question and post the meet we are more emboldened in our view of the unique asymmetric risk/reward opportunity presented at the current stock price. We look forward to hoped for progress on the commercialisation front unfolding in the months ahead."

Here's hoping that the share price increases as the market gains greater confidence that VAL will commercialise at least one of its products in the not too distant future. Personally, I would still be buying these shares at 5p, though I will not need to as I have filled my boots at 2.75p.

The best buying opportunities are when the share price and sentime

Suzanne Dilly has let slip. Verbatim quote from the BRR interview at 1:16 re Peter Weinstein... "about three years ago he also became involved in the corporate development of 401. Now this has involved introducing the project to American companies and really exploits his contact and experience in this area both with the LEGAL NEGOTIATIONS and in the original introductions" I.e. not just expressions of interest and initial discussions, but actual legal negotiations are taking place regarding 401. That demonstrates why they are able to say "advanced conversations" are taking place "with a number of possible partners" We now have the official heads up that a deal is likely.

Noise, exactly, that's what I see happening. But...the issue here I think is a lot of disillusioned long term holders...understandably given the history and performance to date, but as someone who has watched here on an off for a while, and standing back with a fresh pair of eyes, it is obvious that something significant is happening behind the scenes. Am very glad to have accumulated a decent holding significantly sub 3p. Sentiment does change. At IMM a few years ago, the share price declined over time to 20p from much higher heights, as disillusioned holders were fed up with the endless delays in getting the drug into Phase 3. When they then did the funding and put it in, we all know the story. It went up to 190p pre results (peak price) during the course of that trial.

shoestring, it is just not accurate to say that they are "talking" to a "number of prospective partners". The RNS says they are in "Advanced conversations" with a "number of prospective partners", which is much, much more significant.

By offers, I mean with previous qualifications - negotiations still going on about terms, or amounts, or conditions precedent etc

Agreed. It suggests that they have offers on the table from more than one party.

No one said it is a done deal but it is now highly likely

They would not be allowed to state advanced discussions unless they were negotiating terms or unless they had an agreement in principal subject to conditions being met. Advanced discussions are not expressions of interest. I would expect a deal to be announce in the next 1-10 weeks. In pharma world, that is imminent.

First time I have seen reference to advanced discussions. That means a deal is imminent. “Advanced conversations have continued with a number of prospective partners with the aim of achieving a partnership, “

Hi, I mean EFH, see the RNSs dated 21 Oct 14 and 12 Nov 14. That said, I am very positive about AGL in the next 18 months. Just don't think a good enough deal was cut for existing shareholders.

Poetical, the share price was only where it was because of AN selling his shares to EFH at 85p, on a sale and repurchase agreement. With 42.2p being the price he had to cover with more shares at. Hence the dive. It was an artificial fall. It is a bit rich, if not astonishing, for AN to (tangentially) depress the share price for his own personal gain (and for no one else's - he was buying a house and wanted a bridging loan) and to then claim that he got a placing away at a good price! And it was 85p pre the Vienna news - it would have been even higher but for the EFH debacle.

Thanks for the note. If holding for an offer though, it is important to take into account the fully diluted market cap: Quick calculation of the same: 58,724,338 - Shares in issue assuming full takeup 6,906,000 - Options outstanding (ignoring unallocated) Total = 65,630,338 * £0.74 = £48.6m market cap, fully diluted, at £0.74p.

The following are my views on the latest trial results: Take a look at the presentation at pages 12 and 13: http://medgenics.com/downloads/Presentation_Medgenics%20ASN%202010%20.pdf On page 12, you will see that the low dose results are as follows for the 6 patients in total: - 4 patients (2/3rds) were within the target 10-12 range for between and 24 months. - 1 patient crossed below the 10 threshold but was there or nearly there for 3 months, and with a big jump up from around 7.25 - 1 patient was a non-responder On page 13, you will see that the mid dose results are very different, with 6 further patients in total: - 1 patient (1/6th) is within the target 10-12 range, but has only been observed for 1 month; not known if still continuing in trial. - 1 patient failed to reach the 10-12 range, in the 9's - 1 patient overshot the 10-12 range for some of the time though not majorly (sub 11), but has not dropped below the 10 threshold in 5 months - 3 patients have fallen below the 10-12 range for part of their 3-6 months being observed in EPODURE, but have not fallen majorly below (9+) So in short, they have moved from: 4/6 patients maintaining the 10-12 range for 3+ months on the low dose, with 5/6 having respectable results, to 0/6 patients maintaining the 10-12 range for 3+ months on the mid dose, with 4/6 having respectable results. There are a number of unknowns, such as how long the period outside of the 10-12 range was, etc. Given the clear response, albeit not as good a response, my interpretation is as follows: Either 1) It is harder to predict very accurate responses with multiple Biopumps; and/or 2) The duration of sustainability can be more varied over time with multiple Biopumps This can likely be remedied by (a) further trials taking place and/or (b) the addition, substitution and removal of Biopumps where appropriate, which I know is the company's plan, though the more of these that are necessary, the less cost effective the treatment is. In summary, I think that the Biopump results on the mid-dose are good, but they are not excellent like the low dose results were. Further work on multiple Biopumps is required - they do have the high dose tests to do next, once full US funds are raised. Food for thought, would be interested in views.

I agree Dessy. RNS out today btw. US presentation with mid-dose results should be uploaded onto the website soon. Can't wait for the website to be updated as the results look positive: "Dr. Besarab will review how the results to date attest to the safety, effectiveness and durability of the EPODURE Biopump as a potential sustained treatment alternative to months of injections of EPO and other ESAs"

http://biocenturytv.com/story.aspx?storyid=119182&catid=367 "Medgenics Inc. (LSE:MEDG) proposed to list its shares on NYSE Amex and raise $17.3 million in a financing underwritten by Roth and Maxim. Medgenic's lead candidate, Epodure, is a transdermal biopump implant device that produces erythropoietin (EPO). Epodure is in Phase I/II testing to treat anemia in chronic kidney disease (CKD) patients. Medgenics gained 0.75p to 11.50p on Monday."

http://www.sec.gov/Archives/edgar/data/1138776/000114420410058022/v200830_s1.htm