Share Name Share Symbol Market Type Share ISIN Share Description
Eden LSE:EDEN London Ordinary Share GB0001646941 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.25p +2.94% 8.75p 8.25p 9.25p - - - 0 07:40:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 0.4 -1.9 -1.0 - 18.12

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Date Time Title Posts
23/1/201819:06Eden Research3,209
07/3/201713:47Eden Research- The Natural Solution172
27/2/201611:20Eden Research- The Natural Solution3
18/5/201201:24Eden Research6
17/5/201215:00The sterile garden of Eden118

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Eden (EDEN) Top Chat Posts

DateSubject
23/1/2018
08:20
Eden Daily Update: Eden is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker EDEN. The last closing price for Eden was 8.50p.
Eden has a 4 week average price of 8p and a 12 week average price of 7.75p.
The 1 year high share price is 14p while the 1 year low share price is currently 7.75p.
There are currently 207,064,337 shares in issue and the average daily traded volume is 224,830 shares. The market capitalisation of Eden is £18,118,129.49.
22/1/2018
11:44
investingisatrickygame: I think you should all take a look at this http://www.dailymail.co.uk/money/investing/article-5293119/News-websites-investors-secures-private-equity.html Then if you do not know about Proactive, read this (Very strange, each time I put in their web address and 'about us' it gets deleted). Michael Walters, Eden's 'friend' has not the subscribers, the reach or the tools of today to elevate Eden's share price. Proactive are the dominant force in this space and have been for some while. A J Bell Media would be a recognised competitor. Eden chooses not to be expansive with its story and has cited that its partner relationships sometimes prohibit them. Eden has presented to Institutions and also had Analysts meetings, so it clearly seeks to A) Widen and share its story B) Attract inward investment, albeit in the open market C) Have institutions on the Company's Share Register From this we can deduce that there is NO REASON not to share the story with individual and private investors, that inward investment in the open market would be welcome and that an upwardly mobile share price would help facilitate C) above. In sharing it with PI's you also get to share it, efficiently, with everyone else (all shareholders and potential shareholders) I know a bit about Proactive and have delivered very successful independent communications via film using them as my distributor. Can anyone believe that Eden really doesn't want their share price to increase and to have the benefit of a distributor such as Proactive whose audience reach goes as far as Sydney, Frankfurt, Toronto and New York and this is before film watchers refer it to a friend. An interesting fact is that 68% of those that watch a video, refer it to a friend. An interesting alignment is that PI's always refer a stock to a friend when they are hopeful or excited about a stock or are already making money in it. The story becomes self perpetuating. The two are interlinked, yet Eden is disconnected by virtue of not engaging in this very valuable route to a shareholder audience and an increasing share price which ultimately gets them to their end game. A city based Share Register that likely requires minimal engagement with PI's Why?
17/1/2018
11:57
investingisatrickygame: Re Terpene Tech, I think the Company should look to explain this relationship in commercial terms as well as soon as there is the product(s) launch. Eden has a 29.9% interest in Terpene Tech. I assume Eden will receive some kind of royalty in regards to the encapsulation element, but the revenues from product sales will sit within Terpene Tech, the Company, and a private company at that. Eden will continue to account for this interest in its Accounts, but how will the value translate to Eden's share price? Would Eden need to sell its interest at some point to realise the cash on the balance sheet? Might Terpene one day float and Eden's 29.9% can then have a visible Mcap value?(hopefully one that is aligned to significant commercial success, should that happen) Might Terpene Tech reverse in Eden? How will Eden realise value into its own share price through its relationship and investment in Terpene Tech? Would anybody like to answer this? This is a different situation to direct product sales to distributors as currently is and direct sales to a Company, as I assume will be the case with Bayer. This is another revenue and value stream that will need explaining by Eden so that the market can more easily assess and value Eden through its listed share price. Sellers, aside of any personal financial need now, are likely selling because they can't see or understand any visible route to value on any timeline that you wish to choose. Buyers are not around for exactly the same reason plus others will not even be aware of Eden and its prospects. Again, there is no visible route to value that the market understands enough to make them want to buy. Existing shareholders are locked into a very long story as supersonico illustrated above with the Michael Walters article of 2011, 7 years ago!!!!!
11/1/2018
10:24
investingisatrickygame: So we have some commentary to the positive on here. When I read that trading statement I hear Eden saying at the beginning post numbers "This was a good performance since the 2017 growing season was challenging for fungicidal products in many southern European countries due to hard frosts in April followed by high heat and drought in the summer. These well-documented conditions resulted in the smallest harvests in 60 years in key markets such as France and Italy." AND IN THEIR LAST LINE ""Despite challenging growing conditions in key territories and a shortened marketing campaign in France, we are pleased with the progress made in 2017 and we look forward to providing a further update when we report our full year results for the year ended 31 December 2017 in March." So they start on an excuse and finish on one too. Now we all know the story (presumably), but if you want to entice new money in from this RNS, where is the incentive to do so? There is no apparent need to jump in today and so there will be no northward mobilisation of the share price. EDEN do not know how to build a story or tell it. Where is their professional help, Powerscourt, in all of this? They have been on RNS's since the first of September 2017, employed since the first of October 2017 and we are now 3.5 months into their tenure, 25% in time of their annual contract. I don't think the market has heard anything from them. So what is the step-change that they have delivered since Eden removed Walbrook PR? I'm guessing Powerscourt is also more expensive per month than Walbrook. History shows that these PR companies are a waste of shareholder funds and operational funds. If Eden is a ground-breaking industrial biotech then why is Powerscourt unable to deliver a narrative? To me, this is quite remarkable. I can see that Eden has good products and potential. Biotech will also trade on excellent P/E's. Eden is looking at solving global agricultural issues. But where is the story,the building story? Where is the commitment to engage and deliver value into the share price? Where is the recognition of shareholder funds invested and the need to provide a return on invested capital? Where is the alignment between board and shareholder? To me there isn't one and so again, Eden is to blame for the share price and appears to learn nothing from the past. The RNS channel in isolation delivers no value to the Eden share price. The engagement of a hot shot communications firm has done nothing to assist the share price. Shore Capital are impotent so who cares what their broker note says. Overall, Eden is becoming very underwhelming. If the products and patents are that good, then come the commercial announcements of Bayer and TT, I wouldn't be surprised to perhaps see someone sniffing around with a very cheap offer that Eden would struggle to defend. And even if they did defend such a situation, I doubt shareholders would listen because there is no strong relationship between the two that would encourage shareholders to listen.
10/1/2018
13:46
investingisatrickygame: supersonico, I think investors still find themselves in limbo land in regards to Eden, both those invested as expressed above and those that could invest, but haven't yet. The Company still persists (and wrongly so) in believing that the RNS requirement is totally satisfactory in isolation to educate the market, enthuse the market and enough to justify and support the share price. History clearly demonstrates otherwise. There simply isn't enough understanding or enthusiasm around Eden to create sufficient appetite to propel the shares forward. This is why we are where we are. Volume trading is pathetically low. Michael Walters private share club has done nothing for the share price. So, 1) What does management think of our share price performance? 2) What does management think the share price should justifiably trade at today and on what basis? 3) What is management doing to deliver 2) and what is their timeframe for doing so? 4) Based on their mistakes of the past and the apparent lack of various PR companies initiatives to deliver that value, from where and how do they intend to elevate the share price in regards to point 2)? There is much that has not been updated from past statements and then the oft mentioned regulatory delays, but I think points 1-4 should give us all the clarity we need and are the only real questions that Eden should address right now.
17/12/2017
14:32
investingisatrickygame: supersonico Everything you put up is true and robust. There is no doubt that Eden's products, thus far, are validated by the commercial arrangements with Sipcam, Sumi-Agro, Eastman Chemicals and others. Eden's portfolio will be further validated when the now expected Bayer deal comes through for the US (other territories, who knows) and the Terpene Tech deal for Head lice solutions in the US and the EU(of which the UK is still a part) are soon (as indicated by the Company)are announced. So commercially in terms of product appeal and the ability to solve the resulting issues, Eden is validated. Eden then has to deliver volume and have sufficient margin to make a profit. Volume should come given the number of countries involved in the two existing deals and the two further deals to come. It is reasonable to assume that the margin is good otherwise why enter global commercial contracts if they are not suitably profitable. Being an industrial biotech, Eden's product volume has the opportunity to advance on two basis, 1) product appeal and solution to identified problems and 2) as other pesticide based competitor products come off the approvals list, Eden's bio solutions could grab significant additional market share and fill the void made. That could perhaps mean exponential growth in those product lines. It could also be a mind shift for the industry forced upon them with no choice in the matter. In other words, some of Eden's products could, defacto, be the product of choice. I accept there are other products out there, but Eden is in the right space at the right time and with the support of global commercial players. Bayer is already on the Company presentation, slide 9, alongside Commercially contracted companies http://bit.ly/2kEdUIj. Slide 13 talks about addressing the re-registration issues of conventional pesticides too. So you and I may understand all of this along with others/some others, but not enough people do understand this well enough or even know about this. Eden have themselves to blame for their share price and then their advisers. Professional advisers or not, they are not contributing properly in my book to the actions required to help advance the share price to where it might or should be. This should be a continuous ongoing process to address shareholders at all parts of their investment journey and in doing so, you will put a floor under the share price and then help it grow, especially with the undeniable facts above and all those that you too have quoted.
12/12/2017
15:47
investingisatrickygame: Supersonico From your post 2986 "Our strength lies in the diversity of our team. A combination of seasoned journalists, City professionals and the brightest industry practitioners provides clients with experience, insight and creativity that sets us apart." I would be interested to understand what the brightest industry practitioners are currently doing to create insight and deliver creativity, thus setting them apart, so that the PI shareholder base in Eden and not currently invested in Eden, truly understand the operational success delivered and why this share is so undervalued right now. Sipcam, Livingbridge, JM Finn and Artemis are unlikely so sell any shares and therefore create some liquidity. Equally, unlikely to buy any more in the interim as they will have rules in place for investment percentages and actual pounds spent. Thus, 33% of the share register is static. The other 67% of the share register needs Eden's undivided attention into 1) why I should hold my shares and 2) why I should buy some shares in Eden. They are not getting this and I haven't seen it delivered or even attempted to be delivered since I have held a position (and before). Therefore, a potentially ignorant market to the real potential of Eden and current achievements of Eden are managing the share price for Eden and there is no intervention to correct this to the upside. Powerscout's name has been on all RNS's issued since the 1st September 2017. They may have addressed the City, but as yet they have failed to address the 67% shareholder base, the majority shareholder base, the share price influencing shareholder base in any visible way that we are aware of. It is therefore not unreasonable to say that insight and creativity is not being delivered during this last 4 months that we can see and that we know of. Like other views expressed above, I find this massively disappointing given what Eden is, has and has achieved so far.
31/10/2017
17:02
investingisatrickygame: Adding to that commentary, Eden share price is down 3.7% today on volume of around 400,000 shares versus shares in issue of 207 million. So one fifth of one per cent of the shares in issue have been traded. That indicates to me that no one has a reason to buy and very few wish to sell at such a low level. The result is no motivation in the stock. The longer that continues the harder it is to create and with any decent upward spike a raft of sales will occur with investors feeling relieved that they got out the right side of break even.
13/10/2017
23:00
investingisatrickygame: supersonico "So for me the investment case is easy and clear" For you and me maybe, but investors generally it is not. The primary reason for this in my opinion, is Eden continues to resist introducing and yes, selling Eden to a wider private investor audience. Given all that you mention, they most certainly should be. There is no reason or restriction as to why they cannot. There is little danger of the share price getting ahead of itself if Eden were to embark on such an effort as the share price is so low. So who is giving Eden bad advice in this respect and why are Eden listening? You have to assume it lies at the door of Shore Capital and they are totally detached from Private Investors and do not engage with them. So, they are not the best placed people to advise on the same. "My question I have is why have Eastman , Bayer , Sipcam , Sumi-agro not bought us out? Eastman and Bayer are serial buyout merchants so why is Eden still independent??" Good question, but maybe that question could be delayed for another 3-4 months when Bayer is expected to be a customer. I personally don't believe, based on the current share register, that they could resist an unwanted bid or a lowly bid. All the more reason to go on the communication offensive and ensure the Company and its prospects and prospective value is well understood. Thus the price will rise and were a bid to come in it will then be at a higher price. "Does the licencing of different applications deter a Take over..any thoughts??" I believe this is a great reason to put in a cheap offer for Eden now, likely accepted by the majority of PI's which would swing the vote. The benefit of these other applications to any would be buyer e.g. Sipcam, is that they could then spin off everything outside of 3AEY and get their original purchase price of Eden back and likely a profit too. In other words whether it were Sipcam, Eastman or Bayer in the scenario you propose, they end up owning outright that part of Eden's business that they require. Relevant personnel and external partnerships then stay in place to maximise the new owners exit on the other patented offerings. Eden staying below the radar and they are well under the radar in real terms, makes them vulnerable. Eden going above the radar will increase their market cap (if done properly) and thus protect their perceived value and subsequent value for shareholders. It will be a crying shame and a farce if a cheap bid comes in and Eden go on the front foot trying to defend the unwanted bid having done nothing to educate and protect shareholders in all the time leading up to that point, including protecting the Company from the same.
17/7/2017
11:37
investingisatrickygame: Eden has clearly gone commercial and in what we hope is a successful and profitable way. With Sipcam SpA being a major distributor in this sector and product creator, their chosen alliance and investment in Eden with a clause that restricts the selling of their shares for 3 years is a welcome one. Equally, so too will be their board appointment. This all adds commercial weight and gravitas to Eden's development and is very welcome. Eden has clearly developed a niche in both its slow release system and with its management of volatile terpenes, natures own defence mechanism. In fact, the very nature of controlling volatility to enable a product to work defensively against disease is a very creative one and one that evidently the majors hadn't thought to do or were unable to do. Patent protection will now secure Eden's ability to deliver revenue through commercial agreements that should deliver substantial profits. This is one side of Eden Research Plc's business, one collective product area and although some feel it has been slow, it is now here, it is real and management definitely deserve credit for delivering the same. Successful sales of 3AEY now rest, predominately with Sipcam SpA and Sumi-Agro France. In effect this should be a collective effort, one would assume, given their relationship to Sumitomo, whom I assume, are also keeping a keen eye on developments. I imagine they will be looking at Sipcam SpA to monitor how the collaborative elements of the arrangement unfold in regards to new product development, expansive use of Eden's Sustaine technology and extended patent life of existing SpA pesticides. I wouldn't mind betting that internally, they also have a value attached to the same which easily outweighs their £2 million stock investment in Eden. They will also see additional value back to them through an increase in Eden's market capitalisation. What I now hope to see is Eden and Sipcam manage their other product in their portfolio, namely their share price. Given its volatile nature, one could easily draw a line to the management of terpenes to create an easy understanding for the need to reduce negative volatility in their share price. The share price may arguably be stable now, but it is stable at a very low price, to the negative if you will. Some simple time and strategies to complement their operational product areas will be very welcome, especially now that they have some breathing space to do the same with 3AEY over the line and funds in the bank and on the way. Successfully delivering 3AEY gives Eden breathing space to now move on to other product developments, other commercial arrangements and more (notwithstanding Eden wants 3AEY registered in other countries around the globe). If Eden and Sipcam could successfully manage Eden's share price to fair value today, it would be for the benefit of both parties, reward institutional and retail shareholders who will no doubt feel more confident in spreading the word, whilst not necessarily selling up given the greater confidence and visibility they would then have. If they can manage volatile terpenes, I'm confident with all that they have to offer that they can manage a volatile share price. It is after all, one of the fundamental reasons that they, along with others, became a listed Plc.
27/2/2016
10:45
the prophet: Beautiful day here and a delight to read the Eden thread without the puerile rubbish on the old one. Here is a good over-view of the Shore Capital note from the Michael Walters site. This is a free article, btw, so I'm it's ok for me to post it, with due recognition. http://www.michaelwalters.com/stories/news.phtml?num=4417 Eden - Worth More, or Much More? - (EDEN) 30/11/15 (119264) Let's face it. None of us knows what Eden Research (EDEN) is really worth, no matter how long we have been watching, wishing, and hoping. When the issued capital was much smaller, ages ago, some of us paid many times the current price of 16.25p (up 1p) today. There are still hopes that we could see those levels, and more, again - but lending logic to that set of sums has always been elusive. The latest, and much the most convincing, attempt to add substance to the dreams comes from new house broker Shore Capital, which has a highly-rated research team in the small company/ food producers area. Signed by analyst Phil Carroll, written with the shares at 15p, this suggests a fair value of 22.5p, backed by a full revenue potential analysis citing fair value at 79p by projecting revenues out to 2019 then discounting. So we have the usual analytical guesswork which sticks a finger into a range of options, and pulls out a nice number. Peer more closely at the assumptions, and you arrive at anything between 63p and 16p (Shore chooses a conservative 22p) on the 'core' Eden business depending on whether you use a discount rate of 8% or 14% and a terminal growth rate of 1% of 4%. Apply the same discount and growth boundaries to the 'full revenue potential', and you come up with anything between 58p and 223p. Shore picks a cautious 79p. Do not assume that pointing to the vast variables in the Shore valuation method is a criticism. It is not. But it is worth emphasising that we are not talking absolutes here. We have a broker doing what brokers do, and attempting to give some measure of what Eden might be worth. We should be grateful for that, especially since predicting what might happen with Eden (or, rather, when it might happen) has never been easy. Rather than attempt to wade through full 31 pages of the Shore report, it is sensible here to assume that subscribers already know the basic Eden story pretty well - it is developing a series of benign products based on using combinations of three natural terpenes, applied via a patented system of encapsulating them in yeast particles which effectively spreads the delivery time when they are sprayed. There have been long delays getting them through the regulatory system, but the first approvals are in. The most immediate applications are in agri-chem, with a vast range of other possible uses, including animal and human healthcare, food ingredients, cosmetics and home and garden products. Five products are in various stages of development, led by 3AEY, which is about to start sales as a fungicide targeting botrytis, a disease which badly damages grapes. Then there is B2Y, a nematicide targeting soil pests and being evaluated by global giant Eastman (option until next March), 2EY, tackling powdery mildew, and GO-E, the encapsulation technology. Shore expects approval for 3AEY from remaining southern EU states either before the year-end or early in 2016, allowing sales in the next growing season. Companies associated with Japanese giant Sumitomo are partners with Eden to sell in the key grape-growing countries of Italy, Spain and France, and one of them (Sipcam) is evaluating two new products - 2EY (to treat powdery mildew) and 1EY (for apple scab). The other Sumitomo company also has rights to develop other Eden plant protection products. In Kenya, at last Lachlan has approval to sell 3AEY. Eden estimates the market for botryticides like 3AEY is $300m a year. B2Y, the nematicide being evaluated by Eastman and about to undergo the registration process adresses an estimated market worth $1.3bn a year (Eastman's market leader nematicide Metam is under significant pressure, says Shore). The powdery mildew product B2Y, going through registration and backed by a Sumitomo company, tackles a market worth about $750m a year, with particularly high value in Africa. There is a pipeline of other earlier stage products, including 1EY. The broker suggests Eden has a significantly reduced risk profile now that 3AEY has reached commercial sales, and other approvals will trigger milestone payments, helping Eden move into profitability in 2016, a major positive for a biotech company. The business model has significant leverage potential, with further deal potential with other companies in the global Sumitomo network. The same applies to the current option deal with Eastman, and Eden can licence GO-E encapsulation technology for use in industries outside agri-chem. It is currently licenced for head lice treatment with TerpeneTech and with Bayer in flea, tick and shampoo animal health products. Disappointingly, the broker does not expect volume Bayer sales to begin until 2017, with some early initial sales in 2016. Intriguingly, looking at GO-E, the broker uses the example cited in earlier Eden material. That points to Trifloxystrobin, one of Bayer's best-selling agrochemicals at $400m a year. That is now off-patent, but as an example could be used with GO-E to add benefits and extend patent life if co-encapsulated. Eden has often touted the potential benefits of such co-encapsulation opportunities for extending the life of chemical products for major companies, but has yet to conclude a deal, and has never formally said there were talks on such a deal with Bayer - but it keeps coming up (we know Bayer moves at the pace of a constipated tortoise). The broker suggests that Bayer Cropscience could be a potential source of deals in the future. It all adds up, sort of, to a set of core revenue assumptions which the broker splits between current agreements and those under evaluation. Current goes from 2015 revenues of £710,000 to £680,000, then to £1.9m for 2017, £2.61m for 2018, and £3.33m for 2019. Deals under evaluation are reckoned to bring in revenue in 2015 of £21,000, rising to £990,000, then to £1.33m, £3.54m, and £5.6m for 2019. It is these core assumptions, discounted cash flow analysis applied, which support the 22.5p fair value estimate. Then we have the 'full revenue potential' model. That takes in the possible revenue streams based on products which are still being developed, such as 2EY for powdery mildew or the application of GO-E for use in animal health outside the USA. And they include products not licensed or under evaluation. This is heavily loaded with revenues from ag-chem in 2019, when they leap from £3.23m to £15.94m, and form the bulk of the projected revenues of £24.83m for 2019 (up from £11.16m). In turn, the vast bulk of these 2019 revenues - £13.78m - would be generated by products still under development. These assumptions are set against a background of an underlying costs base of £1m a year, growing at mid-single digits, so operational gearing is such that revenues quickly fall through to the bottom line with only modest deductions. Research and development spend is capitalised and then amortised through the income statement (£700,000 currently), and the broker assumes a continuing prudent approach to R & D which would allow the company to become self-sustaining on a cash basis by 2017. There are trading losses of £21m, taking out the charge for tax for a while, and the broker assumes any short term cash need would be satisfied by debt rather than equity. Free cash flow turns positive in 2017 on the core model, a year earlier on the full revenue potential basis. What else? The encapsulation process has opened up exciting opportunities in non-agricultural fields, such as medicine and dentistry, where the antimicrobial properties of terpenes can be effectively applied at controlled doses for wound healing and oral health applications. Eden is at an advanced stage in developing a series of competitive antimicrobial and invertebrate-control agents suitable for use in vineyards and greenhouse and on a variety of high value field crops. The potential for finding further applications of terpene formulations in agricultural and health care is 'vast and clearly exciting' says the broker. The collaboration and licence agreement with Intellectual Ventures protects existing patents, expands Eden's intellectual property portfolio, and using the strength of IV to provide new deal opportunities. IV has agreed to use its own capital to support Eden's objectives, and the deal should make Eden a more attractive potential partner to work with. The ag-chem market has seen a reasonable level of merger and acquisition activity in recent years, Shore says. Over the next decade, the use of biological solutions is set to record double-digit growth, and by 2030 could represent up to 10% of the global crop protection market. This is positive for Eden's prospects. Listing several deals, Shore points to Bayer's acquisition of Agraquest for Euros 340m (£230m) plus milestone payments in August 2012. Shore thinks Agraquest had revenue of $7m in 2012, so it is probably the most comparable company in the chosen deals to Eden. At 16.25p, Eden is capitalised at £26m. Shore says it could be a potential target in sector consolidation. That is a summary of the broker comments, and they point up the attractions of Eden to investors who may have been hanging on, grimly believing, while a tight financial position has brought risks galore to an otherwise enormously attractive proposition. Few shareholders would want to see Eden taken out by an early bid, given the modest share price in recent years. Medium to longer term, however, that is a clear prospect. The potential applications of terpenes, coupled with the encapsulation process, appear massively wide-ranging. The Shore note fills in some of the gaps, but must remain vague on just what might accrue from which deal. So far, the numbers have been small. But the markets Eden's products could be addressing are massive, and a big money partner could help move things fast. There is little mention in the report of opportunities in America, where the market must be vast. There appears to be general confidence that Eastman will go ahead and exercise the option next spring, pulling in a decent milestone payment, and covering some of the American opportunities. But the lack of comment about America, north and south, is surprising. Could there be big new opportunities there, and in the Far East, where Sumitomo is an obvious player. If anything, the Shore sweep of potential developments looks on the conservative side, which is where it should be. Eden itself remains constrained by a shortage of cash. It is debt free and ought to have cash in the bank after the recent TerpeneTech deal, while Lachlan will bring what will presumably be a modest milestone payment. No-one would, however, welcome a dilutive fund-raising at close to current prices. Hopefully the Shore note and marketing presence will help bring more institutional investors into Eden, perhaps reducing the volatility of the shares. The problem remains the glacial pace of regulatory approvals, despite the obvious environmental benefits of Eden's products. Even now, we are not completely clear of all of the red tape holding 3AEY back in Europe. Though the process ought to be somewhat faster for subsequent products, no-one can be sure of smooth and timely progress. As it has for so long, Eden still looks an excellent growth opportunity. No guarantees, but much of the risk has gone. Go for it. I have a holding in Eden Research.
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