Member Info for Wigwammer

Thank you for conceding that you got this one wrong all the way up. Your apology is accepted :)

The valuation of the ords still makes little sense - way undervalued. They were trading 150p+ prior to covid, since when palm oil prices have roughly doubled and reported net debt has fallen from $209m to presently somewhere below $175m, and with a vastly improved outlook. Much more to go for, IMO.

Lol. All you have done all the way up is repeat the same boring message about the potential $50m raise. The chances of any interested reader not knowing about it is practically zilch, thanks to you repeating it several hundred times. Yet the shares have leapt around 50% regardless. Where did you go wrong? If you are going to post on the board of a stock you don’t own then at least get it right, or say something new, or add some mirth to proceedings. The only thing amusing about your repetitious worry is how entirely misplaced it has been in understanding the direction of the shares. ATB

Given Amtech was discouraging people from buying at 3.8p - and has consequently been shown to have the touch of an ape - I can only assume the market is getting ready to give him another good slap! Let us know when you jump onboard amtech, I suspect you’ll be just as good a contrarian indicator on the sell side.. :)

I particularly like this line… “The production wellhead licensing deal with Cameron will shortly see the worlds largest oilfield service provider begin to market products using pos-grip”.

The cash position is a really positive surprise at £8m+ when you include the near cash financial assets. That should give them at least another 2 years to get the ball rolling with Cameron, and possibly others. Positive surprises are that turnover is higher than I expected (shouldn’t be that big a surprise given recovery in end markets and can hopefully be repeated or built on over 2022) and use of the Lombard facility. Does anyone know how how large this facility is or what the conditions are/when repayment must be made? Thanks

BioNTech itself was a small company with multiple joint ventures with large cap pharma. They all knew it’s technology, yet it remained independent. Roll on a few years and that technology has a valuation many multiples of what would have been considered reasonable back then. Same story with dozens of other small cap biotechs that “came good”. In short, I don’t think we can read very much at all into the point that BIoNTech have not (as far as we know) approached Scancell.

It appears the principal investigator appointed for the CIDP trial is something of a big hitter. 303 peer reviewed articles, involvement in 7 clinical trials over the last 15 years, elite/distinguished in multiple areas of medical science.. https://www.medifind.com/doctors/jerome-de-seze/210421637

Nobody is in any doubt about how badly the company is doing. That isn’t the point. The point is the investment case here is very different at 10p than it was at 50p. At 50p the growth dreamers were confidently buying on the back of their future growth projections, and they got it horrifically wrong. At 10p, the value investors are saying that the £20m valuation is largely covered by liquid assets like cash and inventory, before we even get to anything else (future cash flow, existing projects, fixed assets - including 75% ownership of the only privately owned gas pipeline in Morocco).

Back to the point - if they are planning to start CIPD in ph2/3. Does it not suggest that at least internally, they think a positive PK study is likely?

Here you go, Lambo. A 5 year old can work this out but don’t worry, I already accept your apology. “Cash balance of GBP4.2m as at 30 June 2021 (31 December 2020: GBP5.9m)”

What are you on about Lambo? They had over £4m in the bank at end June. £4m is a much bigger number than £700k, isn’t it?

The big underlying positive in this RNS isthey plan to start the CIPD trial in phase 2/3. This suggests that internally they are confident about the outcome of the PK trual, and the company will not have to reformulate and reinitiate earlier stage safety and dose trials. Btw with £4m in the bank at end June, and very low current cash burn, it is not obvious why need to imminently raise cash, but never say never.

It is a highly material project for a £20m oil company. It will add up to 1600 bbl/pd by early 2023, with a net back of $33 @ $65 oil = nearly $20m net pa, and they own 50% of it. At current oil prices, the net back is materially higher again.. And you are wise not to mention the value angle, cos even a 6 year old could make a decent case there. ATB

Shaky - it is misleading because you do not provide context - that success with this drill increases the chances of success in a much larger oil project. Everything you say is out of the bigger context - which is - what is the correct value for this set of assets? My guess is you are a disgruntled growth investor who bought in way too high, based on his overconfidence about his ability to predict the future, and now you come here to point the finger at management. You bought the shares, no one else! This is now a value investment, with a decent margin of safety given the physical assets built, inventories, the cash balance and cash flow coming in, with some potential in forthcoming projects and further potential as an acquiror/acquiree. No good just whinging that your growth dreams have gone. ATB

Please stop suggesting silly things, shaky. If the first well is a success it derisks a much larger oil project, at a time when oil prices are near multi year highs. I suspect you know that (cos it’s obvious) - so why repeatedly mislead people? .. “First well will bring about 80bopd net entitlement production to SDX. It's not significant in the grand scheme of things.

Hi James.. looking at the holdings shown in the last annual report, Liontrust is not there, which suggests it is a new position..

Mutual Holdings Limited 42,700,001
The Bank of New York Nominees Limited 16,428,738 OFM Investment Limited 15,069,767
CGWL Nominees Limited 6,651,253
Jereh International (Hong Kong) Co., Ltd 4,468,537
Executive 2005 Share Option Scheme and Non-Executive 2005 Share Option Scheme
% issued share capital
42.51% 16.36% 15.00%
6.62% 4.45%

"The two contract extensions, on improved rates, signal that the market for our vessels, particularly in MENA continues to tighten..”

The silly petal should be buying rather than commenting, but given the absence of ability I’m sure he’ll stick to what he knows best :)

Dear oh dear. Despite amtech reading and posting precisely the paragraph that refutes his point, he still doesn’t get it. The placing may not take place, or warrants issued, precisely because the trading results themselves may sufficiently reduce leverage levels. Beyond this flaccid point - which the market has already dismissed with a 50% rise against him - I don’t think he has anything else.. :)