Member Info for TimmyTradeface

I got the impression that they are using the money from this raise instead. I could be wrong though. If that the case then they're obviously not counting on ever getting the grant, which is a shame. I wonder what went wrong the in the process of acquiring it.

Looks like Seafox are still increasing their position; I'd hope the other major shareholders who offered their 'support' will increase their holdings as well to prevent Seafox taking over.

I honestly don't know for certain, but my guess would be it's just a formality. I'd assume since dilution CMS no longer have 50% of the company, and now they have no representitive on the boardsof directors. I assume the RNS is stating that they are basically now no different from any other shareholder. I wouldn't say its good news or bad news.

Does anyone have any clue what the 'technicality' is that has prevented them from getting the grant? I was thinking it might be coronavirus related but I'm not sure.

Way to kill the momentum... I guess they're legally obligated to comment or something.

I rather hope they do sell off the gold assets (for a good price, not just out of desperation). Sure, they're something Kodal can begin working on once Bougouni (which they claim is their real focus) is up and running, but if they can't afford to get Bougouni up and running then there's hardly any point in having bits of land in a different country that aren't currently producing anything.

I don't understand why people are so shocked at this news. A cash raise was inevitable, BA said they would need to at some point in the Crux interview. It might be sooner than expected but these are desperate times, it's just a blessing that some money is coming from somewhere. What is the other option, other than to give up on the whole operation?

That's a good question, and if the answer is yes, will Emergex (with all it's new million £s of grant money) sit back and just let it close?

Theyre using midatechs delivery system under license. If they get a vaccine out and sell them, i believe midatech will recieve some royalty payments.

Damned if I know, theres a few others of mine down 20+% on very little. Feels like the market is crashing...

I believe they do, by law, have to make it public. It usually comes in the form of an RNS announcing a change in holdings. According to LSE they were sells, but sometimes that can be wrong so I don't know. I guess we might find out soon enough.

Probably not, unless it was a significant shareholder, in which case there will be a RNS stating the change in position. It's a disappointing turn of events; oil has taken a beating, and sadly this company goes down with it, just as I was starting to feel they were turning things around.

I'm disappointed they did this with no good news lined up or potential investor to buy all the newly issued shares, especially as they claim to be fully funded to the end of this year. Could they really not have waited longer and timed it better?

I really hope they had/have some sort of plan with all this. What are they expecting if they have no potential investors lined up or no good news to prop up the sp while they search? All seems a little nonsensical to me. Hope I'm proved wrong in the coming weeks...

'In line with our business model of developing assets and seeking partners at key inflexion points, the executive management continue their efforts to license MTD201 to a partner who could underwrite development costs and ultimately, market the product. Discussions with potential partners have progressed but such transactions cannot be guaranteed and, as of today, no licenses have been signed and your Board believes it imprudent to rely on milestones and reimbursed expenses from potential licensees when estimating working capital requirements.'

I found this interesting as it says discussions with potential partners have progressed; this is the first time I've been aware that there ARE potential partners (plural as well). It could be that I missed mention of this in past communications. It would be great if someone jumped in to help get MTD201 on its feet, but, as it says, there's no guarantee. Hope springs eternal...

Constructive and active dialogue -
GMS: 'Please can we have another month extension?'
Bank: 'Er... OK, go on then.'
GMS: 'Cool. See you next month!'

Disclaimer - this is not insider information.

Does anyone know why the sp is getting hammered with no news? The spread is a mess (18.41% at time of posting). Is it the price of oil or is there something else going on?

I think that's just for the American ADRs, I don't think the ordinary shares in the UK will be affected (could be wrong though). They're just trying to get the US SP above a dollar so it remains listed on NASDAQ.

I interpreted it as mixed news. It does mean we're going to be further diluted by the looks of things, but I think that has always been on the cards - the money has to come from somewhere. What is interesting is Cook saying "We continue to examine all options for financing our lead R&D programmes and manufacturing scale-up. These Resolutions are designed to provide flexibility to enable an equity fundraise in the USA." He mentions the manufacturing scale-up, so I am hoping that is what the main purpose of the fundraise is (especially if they have enough cash to get them to the end of the year, as they claim). As one not too worried about the clinical trials failing (though I don't rule out the possibility), the funding for the manufacturing facility (as well as ongoing costs for other areas) has more been my concern. I also have a feeling that they may have an investor lined up already, hence why they are specifying a fundraise in the USA; I could be wrong though. The SP will probably take yet another tumble as a result of this, which is a shame.

I have no idea. The company has made some excellent u-turns in their fortunes, announcing many new contracts, banking progress and improved EBIDTA guidance, and yet nobody is biting. This time last year the SP moved up to 18p+ when it had much less promise going forward. I don't know what people want to hear from this company before they start investing...