Member Info for Walkley

Not much help but may be (I hope!) that an agreement has been reached:

" A court order records an official judgment or way forward, as agreed by a Judge. A court order can be final (at the end of a hearing) or interim (which is in place until a final order can be made)."

"Order by Judge Order - Order approved by Jefford J 14th May 2024."

Needs someone with access to the system

jv partner errawarra resources has a market cap of £8.4m with 285 sq km worth of lithium prospecting of which 175 sq km is alien's bit - if they spend aus$4 on errawarra will own 50%. so aliens share might be worth £2m-£3m

alien's total market cap is only £11m which undervalues han**** (iron ore) and elizabeth hill (silver +) let alone this additional lithium prospect.

It is usual to issue some sort of trading statement when companies have an AGM. The old adage is that "No news is good news" with Wandisco (Sorry Cirata), whose AGM was yesterday "No news is No news" might be closer to what is happening.

Courts are like VAR -probably mostly OK but not perfect. DHSC has deep (infinite?) pockets but probably would like to get things sorted before the election. Novacyt haven't got £100m+ to pay if they are judged to be offside and would go bust. Surely an offer of £40m from the DHSC - both sides paying their own legals would be acceptable..

From the Chief Executives Report in the Annual Report:

" The persistence of legacy issues continued to

be a distraction for management, taking the

focus away from ongoing business priorities.

As an example, and partly in response to

shareholder concerns, the new management

requested that former executives return the

bonuses that were paid on the misplaced

assumption of FY22 performance. The

FY22 bonuses were approved and paid in

January 2023 ahead of the annual FY22

audit completion. To date no monies have

been returned. "

The annual accounts show bonuses paid.

https://cirata.com/storage/app/media/investors/Cirata_plc_Annual_Report_and_Accounts_2023.pdf

Trading statement (9th April) was clear about the situation:

“Bookings in Q1 FY24 were $0.7m (Q1 FY23: $2.1m, which benefitted from a large renewal), with DevOps/Application Lifecycle management ("DevOps") software accounting for 51% of bookings and Data Integration ("DI") software accounting for 49% of bookings.”

Bookings ( not revenue) of $0.7m is at a rate of £2.24m a year!!

Look at the last 5 years turnover. Was there ever a demand for whatever Cirata (Wandisco) have to offer?

£’000s

2019 – £16,155

2020 - £10,532

2021 - £7,306

2022 - £9,685

2023 - £6,895

There are 76m shares in issue. Hoping for at least £80m boost in market cap (over £1 a share) when the case is settled. Even if DHSC don't have to pay which is unlikely the removal of the £100m + claim against Novacyt should be enough.

from wh ireland broker note (financed by alien)

"at zero cost to alien, the jv facilitates the investigation of lithium at pinderi hills, provides alien with working capital and leaves alien free to focus on its flagship han**** iron ore project. we still see fair value at 2.7p/share as alien moves han**** along its development pathway. "

must be good news

Novacyt wasn't asking for Summary Judgement. The DHSC were. and they have been refused .Surely a deal is likely -though shudder to think what the legal costs will be!

Does anyone have access to Level 2? What price do we expect NCYT to openat?

Sold holding in Pendragon when the sale to Lithia was confirmed as uncertain of the value of the Pinewood remnant. The figures produced show a company with on-going earnings per share of 11.9p/share and no indication (I may have missed it )of likely future dividends. Whilst perhaps there is the prospect of significant growth now that Pinewood is no longer part of Pendragon a P/E of 26 does seem a bit high. Or am I missing something?

wh ireland note: (under the markets in financial instruments directive ii (“mifid ii”), this research is paid for by the subject issuer as declared in the disclosure and disclaimer pages of this document. )

view: the securing of the mining licence for han**** is a major milestone and has been well received with the share price reacting positively to the news. if alien can secure funding, han**** is a quick to production direct shipping ore project with low capex and opex and a simple business model of dig-crushship, which could be delivering cash flow in the near-term. we will continue to monitor progress as it is reported. we still see fair value at 2.7p/share.

But Cirata has no assets other than cash - the property is on a two year lease.

This from the Annual report, which i assume you have read, says it all!

Sheffield Wednesday F.C.

During 2022 the Group agreed to pay $362,691 to sponsor Sheffield Wednesday F.C. for sponsorship of the 23/24 football season, which was on

behalf of EyUp Skills Limited. EyUp Skills Limited is a company owned by David Richards jointly with Jane Richards. There is also an additional

$127,303 sponsorship payable which is contingent on certain post-year-end outcomes.

Any lawyers here? Why hasn't Novacyt applied for summary judgement? If the application by DHSC is refused is that an excuse for DHSC to settle.

Will need some! Read the annual report: significant payments to former directors and the costs of the "irregularities" . Most telling is the 5 year record on page 85: 2019 revenue $16,155,000; 2023 revenue $6,695,000.

The interest on the Can$27million drawn down on the loan would have been US$1.8m pa so giving up US$3.6m only costs US$1.8m in cash flow. There must be oil and particularly gas producers in Canada with weaker balance sheets than I3 ripe for takeover - would help if share price was a bit higher to allow share based acquisitions though.

Progress continues with the potential development of the Serenity oil discovery in the Central North Sea alongside our partner i3 Energy plc, ahead of the licence's current expiry date in September 2024

· The partners believe that Serenity offers a commercially viable development opportunity with a number of potential development scenarios available given local infrastructure

· A future development could result in approximately 1,000 bopd net to Europa's 25% interest

· Whilst we continue to assess various development scenarios for Serenity, we are concerned about possible future UK fiscal changes in the event of a change of government which could negatively impact the economics of the project