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Great DOE Summary of the 2,000 gallon Test Bed Initiative. This one will still take a year or more to play out, but there is a real chance that DOE will adopt Perma-Fix's alternative approach to treat low level waste. Certainly a gamble, but this would be a complete game-changer for the Company.
Keep in mind that the 2,000 gallon TBI alone was built into the house spending bill proposal and estimated at $15M to spend in 2019 (not sure how much would go to Perma-Fix, but certainly a large portion).
https://www.energy.gov/sites/prod/files/2018/07/f53/Hanford%20Test%20Bed%20Initiative%20Fact%20Sheet%207-12-18.pdf
Anyone been watching this and reading the tea leaves with the DOE awards for Perma-Fix Test Bed Initiative (TBI) at Hanford? Perma-Fix has been quiet about progress, but it sounds like things are progressing nicely.
There's a great article that came out a couple of days ago that discusses a proposed house spending bill that includes $15M for this Perma-Fix Test Bed Initiative. This would cover the 2nd phase of the demonstration project by Perma-Fix which is to grout about 2,000 gallons of waste (Phase I was 3 gallons, and obviously was met with success if DOE is proposing further phases). While the $15M would be a huge win For Perma-Fix, what they're really targeting is about 100,000 gallons of low level radioactive waste. That's HUGE if all the stars align. I imagine it's this potential that has moved PESI stock to a 2 year high at $5.10 when their earnings reports have been rather ho-hum.
Article first found/posted by Nick S on Yahoo:
http://www.tri-cityherald.com/news/local/hanford/article211281329.html
Agreed. Microphase raises cash with an IPO, then has the funds to bring the Amplitech prototypes (intellectual property) to market. Sounds all good in speculation land. Let's hope we're connecting the right dots!
Tried to search patents for Amplitech and didn't see anything. Not sure I'm searching correctly though (nor if they've been issued or even submitted yet).
Seems like a good connection. It's possible Microphase has multiple joint ventures, but here's an excerpt from an Amplitech PR from Feb '15:
PESI - I think the subtle announcement of the IDIQ contract with DOE to demonstrate the treatment of high level waste mentioned on the Q1 earnings call has a bit to do with the run. I like how Dr. Centofanti mentions it in about 2 sentences during the initial discussion, then dances around / downplays the potential throughout the Q&A. He does confirm that we're the PRIME and the intent of the current contract is just to prove that PESI's science is solid. You can tell he's excited, but is trying to be careful and practical.
That said, if it leads to significant high level waste treatment in 2017 and beyond for DOE, this could be a really big deal. I'll have to listen again, but I think he said that DOE has between 50-100 million gallons of waste that would be easily treated, and Perma-Fix would earn about $50 per. That some serious potential if this proves successful.
On the other hand, sounds like the Medical Isotope tc99 process is behind schedule and that we really won't get close to any kind of revenue stream until 2018 at the earliest (assuming FDA approval, etc). Sounds like they're re-testing curie levels now. I didn't catch why the original tests weren't good enough, but evidently they need to re-test with proper protocol to satisfy FDA.
PESI - Plans to list Perma-Fix Medical on Nasdaq. Not sure if this is real "news" since they've been talking about it for a while, but I had to Google Translate this from an article I found today:
Warsaw, 04.04.2016 (ISBnews) - Perma-Fix Medical plans to introduce shares on the Nasdaq market in the US later this year, the company said.
"In the opinion of the issuer, listing the company's shares on the Nasdaq will confirm progress towards commercial implementation of innovative manufacturing process Technetium-99m (Tc-99m), the most commonly used isotope medical world and the positive perception of technology companies among the largest distributors of Tc-99m in the US States and the world "- said in a statement.
Planned start of trading on the Nasdaq depends on the conditions on the US stock market and will be announced at a later date, stated in a press release.
If you change the corporate structure, the percentage of existing shareholders in the share capital remains unchanged, prior to the carrying out of the new issue of shares in the United States, indicated takze.Zdaniem the board of the company, its shares are currently undervalued, and admission to trading on the Nasdaq enable increase awareness of the company in the US capital market and access to a large number of potential investors from around the world, interested in investing in projects in the medical and life science.
"The Board of the issuer believes that the development prospects of the industry and the company are promising and business model, which takes into account the company's listing on the Nasdaq will allow maximization of value for present and future shareholders," - reads.
PESI - Also don't forget that we knew a $407k loss was going to be recognized this quarter for the settlement of unpaid invoices related to the Georgia explosion/fire. Perma-Fix had to recognize these one-time losses, so that sunk the Q4 EPS as well.
I still agree that timing of projects (delays) is disappointing, but I expected a weaker Q4 mainly due to the settlement. Still, we need to see some big contracts in 2016 to really get this moving in the right direction.
Sounds like Perma-Fix Medical is going to receive another grant to support it's tc99 process implementation. Maybe some needed good news after the $407k liability due to unpaid invoices (arbitration settlement related to Georgia explosion/fire) that came out earlier this month. (one time hit to Q4)
BRIEF-Perma-Fix Medical to receive funds for its Technetium generator development
Dec 29 Perma-Fix Medical SA :
* Said on Monday that it received an agreement with Poland's National Centre for Research and Development (NCRD) concerning implementation and financing of the company's project submitted under the prevention and treatment of diseases of affluence program - STRATEGMED
* The company's project concerns design and construction of a Technetium (99Mo/99mTc) generator for use of molybdenum (99Mo) in isotopic diagnostics
* The total value of the project is 13.3 million zlotys ($3.4 million) and consortium will receive funds from NCRD of 10.0 million zlotys
* Consortium comprises of Perma-Fix Medical SA, Poland's National Nuclear Research Center - Radioisotope Centre POLATOM, Institute of Biopolymers and Chemical Fibres, the University of Warsaw's Department of Nuclear Medicine and Institute of Organic Industry
Had to Google Translate this from Polish. Nothing entirely new, but adds a little more detail on plans in an interview of Steve Belcher by ISBnews:
Warsaw, 11.18.2015 (ISBnews) - Perma Fix Medical is focused on acquiring strategic partnerships with leading companies involved in the supply chain isotope Technetium-99 (Tc-99m) and plans that will submit applications for approval of its process for commercial use in the United States Agency for. Food and Drug Administration (FDA) and the EU office in early 2016 announced ISBnews CEO Steve Belcher.
"We are in negotiations with several potential strategic partners in the US and Europe. We expect that this partnership will be finalized and announced in the coming months. After finalizing these agreements, we will be able to produce the resin in our generator or use external devices manufacturers. At the same time we ready to submit applications for approval of our product to the relevant authorities in the US and Europe, "- said Belcher in an interview with ISBnews.
At the same time, the company is finalizing the test phase required to submit an application. "However, the main technical challenges are behind us. We hope that We will requests both the FDA and the office of the EU at the beginning of 2016. We plan to start selling or the first delivery of Tc-99m to our partner Digirad immediately upon receipt of regulatory approvals," - he stressed Belcher.
The basic source of income has come from the production of the resin in a mobile generator that enables the production of medical isotopes directly in hospitals or pharmacies that deliver to hospitals.
At the same time Perma Fix Medical is working on obtaining grant funds from the National Centre for Research and Development and is expected to receive directly receive approx. 800 thousand. USD consortium created to develop innovative generator Tech-99.
"We are considering a number of potential possibilities of obtaining grants from the European Union that will help us both to accelerate the commercialization of our production process Tc-99m in Europe and the development of our production and research capacity in Europe. Our priority is to launch the project of a new generator" - summed Belcher.
In an interview with ISBnews CEO also pointed out that Perma-Fix Medical will begin the process of transferring its listing on the main market of the Warsaw Stock Exchange alternative market NewConnect by the end of this year. The company also plans a dual listing on the Nasdaq.
PESI - Found another article about one of the competitors (Shine). It's more about Phoenix Nuclear Labs and takes the approach that Phoenix is more than a one-trick pony and isn't dependent on Shine's success with mo-99.
Phoenix Nuclear Labs Looks to Diversify in Defense, Energy
I thought this was an interesting excerpt and almost seems like hedging in case Shine has to throw in the towel...
PESI - Article on some of Perma-Fix Medical's Competition on race to produce the medical radioisotope
Race to Domestic Medical Radioisotope
It would have been nice to see some compare and contrast with Perma-Fix's timeline, process, waste, etc but does show that there's plenty of opportunity, albeit with some stiff competition.
Also, I saw that Zacks upgraded Perma-Fix Environmental to "Buy" with a price target of $4.50. Nothing super exciting, but an upgrade never hurts :)
PESI - No "new" news, but here's a nice write-up summary of the history and future prospects for their Tc-99 production technology:
http://www.auntminnie.com/index.aspx?sec=ser&sub=def&pag=dis&ItemID=111987
KINS has been averaging almost 50k shares daily trading volume in September (today not included), which is the highest I've seen since I first bought in Aug 2013 (at just over $5). In the past 14 days the stock price is up over 11%, so someone is certainly buying Feinsod's shares. Not sure if if its an insider/institution or just some increased general buying interest, but at this rate I don't think we'll have to worry about Feinsod's selling for long.
KINS - I missed the CC, so was there any clarification on the forced resignation of Michael Feinsod due to his desire to sell some of his shares (back in June)? I think he had 447k shares, so I was worried he'd try to dump them now that he's no longer a Director.
Doesn't seem to be the case, which is good, but I wonder what the status is.
Had to miss the call, but wondered if they discussed if tests are still ongoing with their resin, or if 4 curie level was the highest they could attain? Sounds like 4 curies is sufficient to exceed industry requirements in emerging markets, but that 5 curies + may be needed to demonstrate superiority over traditional processes in the US / Europe.
I was hoping they'd push the envelope even further since they mentioned a couple of months ago that they had plans to scale up even further past the 4 curie level...
KINS - Seems like a good move to jettison Michael Feinsod. He's also an executive chairman of Advanced Cannabis Solutions, so probably not a good idea to mix any kind of insurance with Pot. A new category of property insurance perhaps?... Homeowners insurance with extra "weed" protection for those homes with their own grow rooms :)
A pretty bold move by KINS that hopefully speaks to their increasingly healthy business. I am nervous about Feinsod's holdings of 463,775 shares though. If Feinsod / Infinity Capital sells, it might take a while to chew up that kind of volume.
MMT - No idea for sure, but my gut tells me that with weak oil prices and Mart's need for cash, that the offer probably isn't that great. The sector is still in beat-down mode, so I doubt any bigger company would swoop in and offer a large premium / buyout offer.
I'd be happy to be wrong though :)
From Barrons today:
Sandler O’Neill + Partners:
Allstate is seen as a large-cap pick in the sector while Kingstone is a small-cap favorite.
Our small-cap highlighted stock for this quarter is Kingstone ( KINS ). This is an unusual micro-cap insurer. It is almost a pure play on the home insurance business in New York state. The operating environment still looks good for Kingstone. The fourth quarter so far is shaping up to be a strong quarter with relatively light weather in downstate New York where most of its business is written. Third, we think the valuation is attractive.
We currently have Buy ratings on American International Group ( AIG ), Atlas Financial Holdings ( AFH ), Allstate, EMC Insurance Group ( EMCI ), Heritage Insurance Holdings ( HRTG ), Kemper ( KMPR ), Kingstone, Navigators Group ( NAVG ) and XL Group ( XL ).
We know the Chinese Joint Venture is worth $2.2m first year (and hopefully leads to some huge growth in the future), but I'm also excited about some of the domestic opportunities in the on-road sector. In Q3, sales in the 4-wheel on-road sector were up 54% and were primarily attributed to a company called XL Hybrids, a U.S. based manufacturer of hybrid powertrain conversion systems for commercial vans and trucks.
I looked a little more into XL Hybrids, and they seem to be growing by leaps and bounds. They provide a conversion product that can be used with existing gas powered vans/trucks that increases mileage by approximately 25%. An install takes about 6 hours per vehicle, and they have some large existing customers (FedEx, Coca Cola, etc). In early October, XL received a California Air Resources Board "Executive Order" approval allowing aftermarket conversions of gasoline-powered 2012-2014 model year General Motors 2500 and 3500 vans, Chevrolet Express and GMC Savana vans into hybrid electric vehicles (which is a big deal for California). Here's an article that discusses the potential: XL Hybrids
Since Sevcon provides controls to XL Hybrids, I'm assuming this could be a boon for them as well.
Also, there was a good Seeking Alpha article on Sevcon found here:
Sevcon Overlooked Play
Kingstone reported quarterly earnings of .18. This is up from .16 last quarter and .02 yoy (last year included effects of Superstorm Sandy).
Policies continue to grow and the change in the reinsurance structure is really helping. They seem to be firing on all cylinders, and i think next Q should even be more pronounced. Seems like a good buy at $7.
You got me. The article even references that "Sevcon has announced plans...". Not sure who they announced them to. Certainly not to this shareholder :)
Sevcon Plans to Double Workforce
It's no wonder Sevcon's stock doesn't move much when they can't seem to get news out to investors. I don't even see this news on their website at all:
Electric vehicle firm to double North-East workforce
9:58am Wednesday 30th July 2014 in Business News
http://www.thenorthernecho.co.uk/business/news/11374758.Electric_vehicle_firm_to_double_North_East_workforce/
ELECTRIC vehicle firm Sevcon has announced plans to double its North East engineering team to 80 and recruit additional worldwide sales staff - as it seeks £6m from shareholders to support its growth.
The innovative Gateshead-based business, which is listed on the Nasdaq in the United States, has launched a rights issue saying some of the additional funds may be used for potential overseas acquisitions.
Matt Boyle, president and chief executive of the electric vehicle control manufacturer, says the global on and off- road hybrid and electric vehicle market is set to move into a new gear.
The rights issue follows a strong recent showing with revenues and profits rising sharply in the last few months.
Sevcon’s research and product development is conducted from its Team Valley headquarters, where it employs a team of 40 skilled hardware and software engineers.
Mr Boyle said: “Realistically we are looking at doubling the size of the Gateshead engineering team to 80 staff to meet our projected demand and we also want to increase our global sales team from .
“A number of significant new opportunities are currently presenting themselves and we are scaling the business to meet these growth projections.”
Sevcon recruits staff from across the globe but has concerns, like many of its North East peers, that the region’s schools are not encouraging enough youngsters to study the STEM subjects and pursue engineering careers.
Last year, in a bid to secure a pipeline of skilled staff it established its own student bursary scheme, which is currently paying the tuition fees of four students at two of the Tyneside universities, Newcastle University and Northumbria University.
Almost all of Sevcon’s sales are overseas and the company has highlighted Asia, and specifically China, for major growth opportunities.
Earlier this year it signed a joint-venture with a Chinese automotive supplier Risenbo Technology. Operating as Sevcon New Energy Technology, the new company will sell Sevcon products to tier one automotive suppliers in China.
Mr Boyle added: “The Chinese are far ahead of the rest of the world in adoption of low carbon vehicles. Last month the Chinese government said it would remove six million older polluting vehicles from the road this year, and replace them with lower polluting gas or pure electric cars.
“The desire of Far East governments to reduce the number and type of polluters isn’t limited to passenger cars, but includes buses and trucks, although rather than producing pure electric vehicles they are trying to promote hybrid technologies as well.”
“The far east in general and China especially, have reached an inflection point in the electric vehicle market.”
Further details of the rights issue were announced on the Nasdaq recently, with the company’s market statement saying: “The net proceeds will be used for general corporate purposes and growth, including funding Sevcon's ongoing research and development and product commercialization initiatives and acquisitions of other businesses.”
Mr Boyle said: “We believe that when we identify a possible acquisition, it would be desirable to have the resources at hand to complete any transaction quickly."
Revenues for the Gateshead-based company for the six months to 31 March , this year, were £10.7m compared with £8.6m in the first six months of 2013.
Profits came in at £534,000 compared to an operating loss of £940,000 in the first six months of last year.
Agreed. There's a lot of focus on electric vehicles of late, and Sevcon seems poised to capitalize on the sector.
I like that their net sales have grown consistently since Q1 2013:
Q1 2013: $6,640
Q2 2013: $8,017
Q3 2013: $8,675
Q4 2013: $8,871
Q1 2014: $9,170
None of this really factors in the potential of their control technology for hybrid electric vehicles and other on-road initiatives in China (and elsewhere) going forward. Seeing the Phoenix Motorcars article just reinforces that Sevcon's control technology is being used actively in the EV market even in the US.
Perhaps the mention of financing has folks spooked? (even though it would be to fund growth in the EV sector)
"Our key strategic challenge is scaling the business to capture this opportunity on a timely basis, which we may accomplish organically or through acquisitions of other businesses, or both. Meeting this challenge means that we will need a stronger balance sheet to fuel accelerated growth. We are considering raising equity capital by means of a rights offering or other approach, and we are developing a capital allocation and investment strategy that will help us to achieve our goals," concluded Boyle.
I guess it's not a low P/E stock either, but it seems like the opportunity for growth in a hot sector (not to mention low float) make it attractive. Hopefully the share price turns around soon from here.
Phoenix Motorcars and Sevcon
Anyone see the (fairly recent) article on Phoenix Motorcars launch of their Electric Shuttle Bus? It uses the Sevcon motor inverter.
"Phoenix Cars is backed by money from Dubai and PR by Arnold Schwarzenegger, and is committed to developing a full line of sensible electric vehicles, from a small compact hatch to a full-size commercial truck and everything in between. Part of that “everything in between”, it seems, is an all-electric, 14 passenger shuttle destined to ferry hotel patrons to and from Southern California airports in the near future."
Here's the PR:
Phoenix Motorcars Announces Launch of Its New Electric Vehicle Platform and All-Electric Shuttle Bus
14-passenger, all-electric vehicle and platform to target US and international commercial fleet markets
Ontario, CA. (April 22, 2014) - Phoenix Cars LLC., a leading developer of electric vehicle technologies for the fleet market, today announced the introduction of its modular, electric vehicle (EV) platform and it’s all new 14-passenger, all-electric shuttle bus focused on the US and international markets.
“Phoenix Cars LLC. worked very closely with its key technology partners to develop a compact and modular EV platform, which can be integrated into a diverse range of vehicle applications,” said Steven Davis, president, Phoenix Cars LLC. “The first Phoenix Cars product to utilize this platform is an all-electric shuttle bus that was designed expressly for use by commercial fleets. Our electric shuttle bus offers fleet owners an outstanding value proposition, because our shuttle costs significantly less to maintain and operate than traditional gas or Compressed Natural Gas (CNG) vehicles.”
The electric shuttle bus is powered by Phoenix’ new EV platform, which includes a proprietary vehicle controller, Remy™ (www.remyinc.com) permanent magnet traction motor, Sevcon™ (www.sevcon.com) motor inverter, and a Coslight™ ( www.cncoslight.com) lithium-ion battery pack and battery management system.
“The Phoenix Motorcars electric shuttle bus is our newest product offering, and the flexibility of our new EV platform opens up the possibility to launch additional medium-duty vehicle configurations or retrofits that not only enhance the sustainability of a vehicle fleet, but also enhance their cost-effectiveness,” said Davis.
Things are certainly heating up with Sequenom. If we can get the overhang from the patent litigation out of the way, the stock price will rocket. Regardless of the litigation, the increases in sales are building nicely, and the MaterniT21 brand name is going to gain awareness and significant market share.
SQNM - Wow, they finally were able to pull of launch of the T-21 test. I recall playing SQNM options a couple of years ago (with the stock price collapse), and I guess SQNM finally made it to market with their test.
A non-invasive Down Syndrome test is a huge accomplishment. I'm surprised that it's only up 12% pre-market, but I guess the proof will come with whether doctors embrace the test. The challenge now is to make the T-21 test a common practice among doctors. If SQNM can get the word out, I think patients will quickly demand this non-invasive alternative to Downs testing.
TELT - I dumped my final 35k shares at the open today as well and got .085. I paid .094 many months ago during the initial meltdown, so felt really lucky this morning to get out where I did.
What a debacle. Ugh.
Romarco R.TO - I almost bought shares of this one as well, but decided to buy RV.TO instead (Revolution Resources). Revolution is trying to do the same in NC as Romarco did in SC in buying up old mines and using new techniques to find commercial gold.
I would've thought Romarco was a much safer play that Revolution (and maybe still is), but didn't realize that there were large environmental hurdles to jump. I'm only interested in Revolution since they;re in my home state (and just an hour or so from where I grew up), so it's a sentimental play for me.
I hate to hear that about Romarco since they'd proven feasibility and shored up some impressive grades. Maybe they'll still find a way through, but it's going to be tough to get the mine to production now.
MMT - Finally a positive PR that clears up most of the ambiguity. I'm surprised that the pop isn't bigger at this point. MMT is really cranking up cashflow and the sp certainly doesn't reflect it.
I guess we'll need to see it flow through to the financials to get some recognition.
I'm still anxiously awaiting a decision on increasing pipeline capacity, and of course I'll feel more comfortable when UMU-7 is drilled and is producing. Still, the overall risk with MMT is certainly diminished with the production increases.
I hope so. NDA (re) submission in July isn't really that long to wait, and I didn't get the sense that Alexza's CRL is going to be hard to overcome.
I'd like to see the stock strengthen right up until July.
SPM.to - I added some shares today at $1.00. I haven't been much of a Jr metals bug lately (though have enjoyed the incredible run-up in FR.to). Scorpio seems like one of the few remaining producers that hasn't seen much of a rise due to record silver prices.
I guess I've been reading too many of Richard Russell's Dow Theory Letters lately, so I'm starting to believe that precious metals still have a a climactic speculative third phase to come. There may be short term weakness (pundits have been saying that for months now), but we've still got a ways to go longer term.
NEIK - Interview with CEO Wilson Russell
This one hasn't panned out like I had hoped in 2010. But, their prospects are good and they have $12m in backlog contracts. Margins are just okay, so the key to success here is in volume of work.
I think NEIK will continue to get the nod for contracts and should have a good year in 2011. They do need some working capital to support expansion efforts, so it's a bit speculative. But, I'm willing to hold at my cost average of just under .15.
Here's the interview:
http://ceonews.posterous.com/neik-interview-with-ceo-wilson-russell#
REPR - I bought 20k of those shares at .13. I hope I'm early to the party with this one :)
ASRG - You've got to be kidding me! I do have 5,000 shares at .98, but I kept waiting and waiting to buy big into this one. I was so sure the share price would dip after the divy was paid, and was a bit perplexed why it held at 1.30. It certainly makes sense now.
Congrats to those holding shares!
Thanks for the heads up. I hadn't checked the bid/ask, so the timing was perfect :)
I took 'em. There were only 8,000 shares available and I'd been contemplating adding to my position a bit. Hopefully the fire sale is over and we'll start ticking back up again.
AGM - I actually sold my 50 Nov $7.50 calls today when I started to see some weakness. I bought them when the stock was trading below $11 though, so decided to take profits.
With AGM, positive earnings are usually met with selling and a drop in share price. It doesn't make sense, really, but there just isn't much interest for some reason.
Still, I bought some $15 Nov calls today and will hope for the best. With core earnings of .50 or more and a good Q in derivatives, there could certainly be some upside.
This is a well-run Company that has made significant strides in the past few years (post Lehman/Fannie debacle). It should carry a much higher share price, so maybe we'll get there this time around.
AGM - I was riding high today, but it really tanked at the end of day. I hope that doesn't portend a momo play and a drop tomorrow. I've been holding 50 $7.50 calls and 50 $15 calls, so am really hoping the rally will sustain north of $15 prior to earnings.
It recovered nicely with a last minute .10 buy. There must have been one seller liquidating their stock because the ask disappeared and someone was able to paint the tape back to .10. fine by me :)