Member Info for TrekMadone

Applied for voucher from FDA as planned.

“ If IB is successful in applying for an RPD-PRV, the vouchers can be transferred (sold) to other companies and the trading price of a PRV, per KIDS V CANCER (givekidsachanceact.org), is averaging $100 million.”

6p day turnaround once receipt acknowledged then a sale to Pharma that’s awash with cash!

Application was tweeted (I don’t use X, they pss me off!) but NOT been RNS’d. Imo they should have used RNS reach but it is what it is. Anyways. It’s been a tip of mine since 2p. TP 50p. Only what you can afford to loose though!

Read my posts over there including breakdown of financing after results.

I hold a few. Enough to make a difference not too many to hurt. But with so many shots on goal now and I think they will get the voucher, get sales from GE for IB and later in 2024 sign a partner for their phase 2.

Mcap is only 7.5m with just 182m shares in issue so liquidity can be an issue. Get that voucher and boom. Then much more to come!

A freebie from me having trawled loads of biotechs! My last buy was 100k shares at a tad over 4p.

Good luck

Usual caveats

Trek

Hi Pikeman,

“….. once DEC demonstrates that the variable debt commitment is falling there will be stability and recovery in the SP.”

And it is my belief that having tried to stimulate the SP with, lenders backing's, PDMR buys, BB’s, updated guidance, ESG awards etc all to no avail we will see a revised debt reduction glidepath showing when various notes run off in the next investor presentation.

That seems to be the crux of it here. Investors can then visualise what headroom we have for interest rates v production volume at the hedged price.

It should then show a quarterly debt step down, as long as rates have peaked, for the months ahead and an improving cash position.

If as I suspect there is a pay down in December then as long as macro remains constant that should feedback into the SP which I think will after a couple of quarters rerate back to the 90’s with a bit of confidence.

I have reduced my average significantly here now thanks to buying back stock at sub 70p and am within touching distance of the SP. Envious of those buying now though for an 18% yield after taxes!

Usual caveats

Trek

It’ll come. Experienced professionals do not sell their homes, uproot their families and move to house to be closer to the mine unless they a pretty confident in the prospects of the company.

That’s more commitment than us PI’s with our long term holding position or trading antics to get a better price for what we see as a conviction investment albeit balanced from an armchair perspective!

I made a career move back in the day, sold the house, changed schools for the kids etc. Mrs Trek even sold a business to back me. It came off… eventually. But gosh there were times!

Whilst I have quite a bit lot of corporate finance experience; sometimes there are more clues in what the people are doing as opposed to the spreadsheets! But the spreadsheets need to go hand in hand eh! Lol!

Usual caveats

Trek

My understanding is notice is physical days, so Boxing Day. However, the FDA will likely acknowledge and reply with a date.

This isn’t like a clinical trial. It’s to show unmet need for a serious condition and potential...

“GBM is the most common and aggressive primary brain tumor in adults and children. There are currently no effective treatments for pediatric glioblastoma.”

And 27th June 23 RNS supporting data…

https://www.lse.co.uk/rns/IQAI/studies-show-gam-inhibits-pediatric-tumor-growth-1m3zd1ecp7u3wq5.html

To include paediatrics is a tough set of hoops! and KS gets 10/10 for her previous clinical submissions!

We have 2 x ODD designations for GaM.

I think we have a realistic chance at getting this voucher. Why? 2 x ODD achievements means that KS is on the same wavelength as the FDA with her submissions. That should not be underestimated! The voucher is a natural progression within the FDA framework.

Then it’s a case of what the BoD do with it.…

“Once that submission is under review, and to leverage our ODD designation for pediatric brain tumors (GBM and ATRT), we will apply for a Rare Pediatric Disease Priority Review Voucher (RPD-PRV). Like the Fast Track program, RPD-PRV is another accelerated pathway authorised by the FDA which offers incentives for development and approval for promising drugs. If IB is successful in applying for an RPD-PRV, the vouchers can be transferred (sold) to other companies and the trading price of a PRV, per KIDS V CANCER (givekidsachanceact.org), is averaging $100 million.”

That would be transformational but its NOT our main funding avenue, those remain as grants and soon to be partnerships. We also have ‘air cover’ of CLN’s should the need arise…

“..The multi-site Phase 2 trial will require new funding which we anticipate will come substantially from a partnership arrangement with a large pharmaceutical company and grants, including those from charitable foundations and other institutions..”

There is also cost recovery for EAP’s… see 17th Aug 23 RNS.

To come this far pretty much on grant funding with only 182m (not billion!) shares has been the opposite to ‘dilutive’ and yet the market doesn’t see it!

Look at the last 2 years RNS’s and see what an amazing pf and significant alliances IQAI has! + revs from LA hospitals and…

A ‘7 fold increase in IB pre sales’ projected in H1 to ‘anticipate a step-change (revenue) starting 2nd half of 2023!’

Imo a real moonshot opportunity!

Usual caveats

Trek

They didn’t manage the drill on Tai 1 like this. They have gone slower and apparently been casing for a while now. Tai 2 just looked at shallow depths with a Turkey Bastet!

There is Helium there. We know that from the first drill…..

“ "Having proven a working helium system with Tai-1, Helium One have substantially de-risked the Rukwa basin. Demonstration of seal and reservoir, as well as helium shows at multiple stratigraphic levels, indicates a working system in which free helium gas is waiting to be discovered…...”

There are several stacked targets. They may just have carried on deeper below the 130m Karoo seal.

Of course it’s a roll of the dice but having already proven a working Helium system that improves the odds. They just gotta hit one of the sweet spots and we hope it’s helium and not water!

If the miss this one they get data and we have another roll thereafter.

Probably find out tomorrow imo.

Usual caveats

Trek

There’s nothing to conclude. I haven’t even looked at X (hate it) but there are more posts than trades here today.

Says it all!

Usual caveats

Trek

Hi Gav,

I think some of us worked that one out a while ago.

Ops is good it’s the SOFR + rates on the % of unhedged debt that the market has been skittish about. But each month they pay down debt so all things being equal with no new borrowings and production glidepath as forecast the sp should turn without any other help.

That is as long as rates stay same. SOFR is still aggregate 5.30%, it was 5.31% on 1st of month.

I can’t see the Fed raising. See article front page of todays FT re corporate borrowings.

Usual caveats

Trek

Agree ITD, news must be close now.

That sell at 18p is a joke. I have been offered more than that on dummy sells for a larger amount .

Not that it matters, now is the time to accumulate imo. Got my average down well here by trading down and actually have a few more shares.

Usual caveats

Trek

Got my price, sold the rest as well as looks like going back to 440 following US back down.

Will use same cash to have another go later but won’t bore the BB anymore.

Just sharing an alternative method to just ‘buy and hold’ to give fellow PI’s something to think about.

I have same number of shares with a much lower average. Now only 8% down instead of what would be double that!

Usual caveats

Trek

Added 100k at 4148. Good liquidity here atm.

I couldn’t buy dip as didn’t have cash until after some trades on gcat and Phnx

I am expecting an RNS in a couple of weeks saying voucher been submitted and giving the FDA timeline to respond.

Usual caveats

Trek

First sell order is at 443.5 ….. come to Trek!

Be another amazing day trade after Gcat Monday!

Lol!

Trek

I think the irony was some sold using the divi to cushion losses! Hence the drop thereafter.

But it seems odd that reported buys (1.7m) here today again exceed sells (660k) and it’s down!

This is a pretty straightforward stock to trade as it follows news from the street. Just keep grabbing nibbles, watch out for the tax as well and work one’s average down for the good times if they arrive!

Divi could also go up after finals. No idea what impact that will have but logic says we should be in a better place sp wise as long as macro doesn’t deteriorate.

Usual caveats

Trek

FYI that 10k trade at 19p is a buy not a sell. There was only 10k left at 19p. I tried to get more but rice went up.

Trek

Come on PHNx up you come!

Added at 438 today and sell order placed.

This drop below 440 is a big opportunity imo.

Only time will tell but if I get stuck I can think of a lot worse places to have cash held!

Rinse and repeat. Nibbling just a few quid at a time and getting the average down!

483 average now. That imo will be awesome once the Fed turn dovish which is bound to happen at some point!

Usual caveats

Trek

I grabbed 10k on the drop below 70. Still nibbling away at my average. Flipping in and out for a few hundred quid. Got enough for 4 more buys. Then hoping should be all blue again on run to next xd.

Usual caveats

Trek

The suspension is for late accounts which will report historic data.

It’s possible that they are late as it’s a small team that have been focusing on a finance package.

All said, I am not invested here just curious atm. But if I was I would be taking some off on the rise unless of course one is happy to have cash tied up.

You can always buy back after either lowering or increasing your core average position.

Leaving 100% in runs the risk of a recapitalisation RNS ‘coincidentally’ being released during the suspension which could mean either a significantly higher or lower share price once relisted.

It’s just how I would consider playing it but I appreciate many PI’s just hold and hug sticking with their convictions. Good luck either way.

Usual caveats

Trek

I was expecting this to go back to 18p or lower after the drill results as folk tend to sell news.

That the sp is actually looking stronger again having had a recent little run just MAY indicate that the bottom is in.

If that is the case this can move up quickly pence at a time as it has been very low volumes that have brought us here and there are not many shares about esp for a miner where billions is not uncommon.

Certainly getting closer to the business end now!

Usual caveats

Trek

Apro,

Agree. I haven’t seen an advance notification like this before either.

Good luck to all the PI’s here.

Trek

I posted this on Tecan Monday….

“ I had a sneaky feeling re suspension,

My post from yesterday…. (Monday)

“ Just sold last mill. Dint want to be locked in in case shares suspended and hung out to dry! ”

——-

I had a suspicion that they may be suspended. It’s normal for missing regulatory commitments. The SP also tends to rise in advance. But it was nothing clever on my part, I just took a momentum risk for a day trade and got away with one!

The suspension doesn’t necessarily mean bad news. It’s likely that there will be a restructure once the prospectus is approved. It’s very unlikely that will mean a higher sp in the short term but longer term the operational merits should win through.

Personally I think the company would be better off with a more financially astute CEO. RM for sure ‘wears his heart on his sleeve’, loves his rocks and is no lifestyle exec but he goes from one finance clock up to another! That’s not the type of CEO a junior needs.

Usual caveats

Trek

The royalty partners have been digging in the wrong place. Not on ECOR assets. Looks like that may have accounted for some of the SP decline of late and yet directors were happy to buy much higher.

Given the outlook and deleveraging prospects I think if this drops today it could be a good buying opportunity.

Commo’s will have their day again. Ecor is pretty inflation agnostic as the diggers absorb any cost increases. Ecor just get their cut.

Could be a nice income tuckaway here with sector leasing divi. But there has been little capacity to grow the divi.

I remain on the sidelines for now.

Usual caveats

Trek