Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Yes my thoughts exactly violindog.
I'm applying for some excess shares, no doubt it will get scaled back but will then reassess before the new year with a view to maybe topping up in the open market.
Cheers
Morning all - looking for a bit of clarification / understanding.
First of all, I think the open offer is looking to raise gross £8m? Is that figure (or whatever the figure is) based on everyone taking up the option of buying one share for every 45 they have or does it rely on PI buying excess shares as well? (I appreciate that overseas investors cannot partake in the offer.)
I'm with Jarvis who for some reason only got notification of this on Friday and I now have the letter inviting participation in the OO (instructions must be with them by tomorrow so sorting this out today.)
Looking at buying in the open market today there is a big difference in the bid / offer. I can buy at 11.25 which guarantees I'll get what I want but at slightly above the OO price. Interestingly, to sell it would be 10.75 - the MM know what they're doing!!!
Anyway, my thinking is that irrespective of the small difference in price, it would be better to buy in the OO as that cash would go into Scancells coffers rather than a slice going in the back pocket of the MM. I guess the gamble is that in the event of being oversubscribed, I wouldn't get as many as I'd asked for. If the OO was oversubscribed, I wonder if they would increase the allocation like they did in the placing to raise additional funds?
Would welcome thoughts.....................
I'm feeling a bit underwhelmed by this RNS. Of course its great that Cohort1 has seen no adverse side effects but am I right in thinking that after several months Scancell have only recruited 3 patients? Someone please tell me I have got this wrong!
If I haven't we may be waiting a long time until Cohort 2 is fully recruited and even further for efficacy data.
AB "So we're looking at an inexperienced CEO helping a potentially multimillion company who's also CSO of that company whilst also holding down a position at a uk university"
LD's primary expertise is in the science and she may be the CEO but I don't imagine she will be sat around a table with Biotech companies on her own! She will have a team around her all experts in their field who will advise her and of course the BoD, there will be professional advisers too.
As you say - horses for courses. Keep the faith and this is not just blind optimism.
AB - I get your point about where the BoD are going - its nice to know from an investors point of view but think of this as a poker game - you've just flopped a royal Flush - you know you can't lose (lets say LD has a pretty good idea that the trials are going to be successful) - what do you do? Do you go all in (publicise your strategy), in which case the remaining players may just fold and you win very little or do you wait and see what others do ahead of you? Your aim is to extract the maximum amount of money from those around the table. You keep your options open - you've a pretty good idea how the other players play, so you keep your cards close to your chest. That is exactly what LD will be doing - she knows the market and I'm sure she/the BoD will be in regular discussions with Biotechs etc. and they will have a pretty good idea of what is needed and will make a judgement accordingly.
Lets face it, private investors will never get close to what strategy the BoD are pursuing but you can bet your bottom dollar that Vulpes/Redmile WILL be and may well be providing input into what direction to take.
FWIW I'm not worried at all - I know there have been false dawns before but I think, for anyone still following the (cr@p I know) poker analogy, the river card will soon be shown and the pot will be there for the taking.
All IMHO, DYOR , GL etc etc etc
Morning all - not posted on here for a while despite having the occasional read. Like many I'm surprised given the recent RNS issued that the sp is still around this level. Indeed given the fall over the last couple of days I've taken the opportunity to top up. Can't be too long before we get a further RNS?
Morning all
just read the RNS - nice that they have bought another 400k shares but before anyone gets carried away, don't forget that they sold 400k share on 19th Feb for 27p/27.5 so they are only putting back what they already had (less of course the c£28k profit which they've kept).