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Pretty sure that AN had said he was funded through to FDA approval after the last lot ??
What were your five stocks David ? Or the other four ?
As Scotty notes on the other place, 'We have several other prospects on the North Slope in this Brookian play that have literally billion barrel types of potential for development, and its really exciting. Its where you can find offshore deep water type resources on shore and a very stable tax regime, and we happen to sit right under the trans Alaska pipeline and along the Dalton highway, which allows us to work year round.'
He owns 0.75m shares: https://polaris.brighterir.com/public/harvest_minerals/news/rns/story/ryqnn3w
I share your disappointment with the stock price performance. But perhaps we expected too much, too soon from sales. As BMM rightly notes, the company is still yet young and now expected to be profitable in 2020. For me, the Veloso video is a huge endorsement of the product and should (!) put the naysayers on the back foot
You say that, but then how can you explain the fact that in the one year long Phase III trial, none of the placebo patients were in remission at the end of the trial ?
The company has said that the results of the extended trial would be released by end Q2, so, yes. This is from the final results RNS
Follow-on 'extension' open label study
o A total of 62 eligible patients from the original Phase III trial recruited
o The study is anticipated to report results in Q2 2019
Was re-reading the Annual Report for 2018. It is worth remembering that 7.5% of Lupuzor plus SOC group in the Phase III went into full remission vs none in the Placebo plus SOC group. Of the 153 patients which completed the study, 62 elected to take part in the Extension Study in return for free Lupuzor.
I wonder if, perhaps, some of the 62 have gone into full remission also ? We will find out in the next few weeks.
Veloso was mentioned in the presentation. They are already taking product and are interested in buying more
Dr Heyhoe is a geologist with over 25 years' experience in the mining industry. Working initially as a resource geologist and then consultant specialising in project evaluation, he then spent eight years working in the London capital markets before joining Harvest in January 2016 as COO
Good bloke. I believe he was the Mirabaud analyst when the lardgest shareholder, the Edwards family office, took up their stake through Mirabaud.
I attended the presentation from Mark Heyhoe. It was videoed so I expect the video will be made available at some point. Key points as follows
1. Per yesterday’s RNS, HMI expect to be pretax break even for the year to June 2019. I confirmed that this must imply a pretax profit of at least A$1.8m for H2 FY19.
2. Direct costs are currently running at US$15 per tonne but will fall to $10 and then $7.50 at volumes of 100,000 tonnes per annum.
3. Selling prices are $55 per tonne.
4. Receivables of A$1.3m relate to product delivered in December and are subject to a typical payment cycle of 60-90 days. This is standard in the industry.
5. The sales of 86k tonnes announced last year to two distributors are being supplemented with HMI’s own direct sales force of 6 ppl plus one sales manager. Two more are soon to be hired.
6. The KP Fertil product is both a fertiles (for the plant) and a remineraliser (for the soil). KPFÉRTIL has already been certified as a remineraliser and has applied for a similar certification as a fertiler, but this takes more time.
7. The fact that capes is done and profits are expected in H2 means that the current cash level of A$12m should not fall further as the sales cycle is now self financing. On the contrary, cash should build at H2 sales levels.
8. Coffee season is in H1 and soybean season in H2 so KPFÉRTIL sales cycle need not be seasonal over the year.
9. There is absolutely no need to raise money. Even if HMI did not have any revenue at all for three years, the current cash on balance sheet would be sufficient for three years of operating expenses.
10. Operating expenses were A$2.4m in H1, but this included a write-off of money relating to Geoclico and share based payment expense, totalling $1m, which are non recurrent in nature. Excluding these, normalised operating expenses would be A$1.4m per six months or $2.8m per year.
11. A pre tax profit of A$1.8m in H2 would therefore imply a gross profit of A$3.2m in H2. My estimate. At a 60% Gross Profit Margin (same as H1), that would imply revenues of A$5.3m in H2, versus just A$1.0m in H1. My estimate again.
I attended the presentation from Mark Heyhoe. It was videoed so I expect the video will be made available at some point. Key points as follows
1. Per yesterday’s RNS, HMI expect to be pretax break even for the year to June 2019. I confirmed that this must imply a pretax profit of at least A$1.8m for H2 FY19.
2. Costs are currently running at
Dear bopd, thanks for the interest you have shown in Harvest Minerals product. May I humbly suggest you email the CEO directly. You can easily find his name on the Harvest Minerals website, Mark Heyhoe. His email is MHeyhoe@Harvestminerals.net. I am sure he would be delighted to tell you more about the efficacy of the product and why it is getting such a strong response in the local market - it works and it is cheaper than the alternatives.