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ANIC Agronomics Limited

5.00
0.15 (3.09%)
11 Oct 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Agronomics Limited LSE:ANIC London Ordinary Share IM00B6QH1J21 ORD 0.0001P
  Price Change % Change Share Price Shares Traded Last Trade
  0.15 3.09% 5.00 7,165,275 16:35:05
Bid Price Offer Price High Price Low Price Open Price
4.80 5.00 4.90 4.845 4.85
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 30.88M 22.37M 0.0222 2.21 48.96M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:40:22 O 500,000 5.05 GBX

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Posted at 13/10/2024 09:20 by Agronomics Daily Update
Agronomics Limited is listed in the Investors, Nec sector of the London Stock Exchange with ticker ANIC. The last closing price for Agronomics was 4.85p.
Agronomics currently has 1,009,408,091 shares in issue. The market capitalisation of Agronomics is £49,460,996.
Agronomics has a price to earnings ratio (PE ratio) of 2.21.
This morning ANIC shares opened at 4.85p
Posted at 21/9/2024 08:19 by 1chrism
Whilst it is worth noting that other markets are available and have improved where the UK has not it offers a false promise. The S&P is blue chip so a comparison is apples and oranges.The Russell makes more sense but within that particular bowl of fruit there sits no VC like ANIC. We all know that when it comes to cellular agriculture VCs, there is only one.Your question persists, however. Would it have worked better in the US? Without seeing anything like for like in any etfs or wrappers no certainty can be added to the statement. We do also know that a growing number of US states are banning lab meat - without the concept being rea?ised. But do I think that the UK has saved ANIC from the insanity of US politics, perhaps. The US recently pumped $2m into solar foods. But the UK has put £2bn aside for alternative foods and have a QUANGO working on reforming the process of approvals for alternative proteins. Australia is looking good for this and obviously Singapore leads the pack. Perhaps ANIC would be ripping up the re-ratings book on the Singapore.A handy thing to remind ourselves of is the stage we find ANIC in: all companies who have a revenue have begun within the last 12 months. So if you invest in ANIC you are stepping into the abyss in a way that does not exist on any exchange. I gave myself a 20 year brief two years ago and ANIC have a decade of funding left. This is probably why I would rather ANIC is on the UK rather than US. If you have a short term plan for ANIC then your statement does hold credo. So there is a good place to leave it: UK market for the longhaul, and US for the short term. And speaking of shorts, another week to forget for the share price.
Posted at 14/9/2024 10:27 by 1chrism
He did talk about Lineration Labs at two points in the conversation and was even frank about the timeline (pushing it back to mid '25). Id implore anyone who thinks this to listen again.There was also an awful lot about how impressive fundraising has been in a depressed market ($200m+) in the last year and most of it enabling companies to step towards commercialisation.I do agree with you on sentiment, Liberation Labs delay is a upheaval on the share price (and may already be priced in: despite meatly, despite formo, despite solar foods world changing news it has dipped).We all know it is going to happen, it is just frustrating knowing there will be more stress on the share price even though literally all companies in the portfolio are taking off. Even Umami (which were more or less written down) are an ANIC earner. It's all macro pressure so, as Chow says, point me to an AIM VC and I will show you only a discount. On the whole it is good to know that ANIC know what can and cannot be controlled and importantly that the focus and efforts will not be dimmed (10 years runway helps of course).
Posted at 11/9/2024 09:46 by davebowler
Oak Bloke today...Agronomics also stands out as a holding where the share price has fallen on no bad news and the NAV has remained strong. In fact considering its first holding has now IPO'd (and covers 30% of ANIC's share price, and is up 2.75% today) and its portfolio overall have raised $250m in new funding in the past year (despite the horrendous environment to growth shares), including funding from major industry players like REWE (the "Tesco's of Germany) and working in partnerships with major industry players (like the "Cadbury's" of Japan). It is simply being ignored.
Posted at 02/9/2024 10:16 by davebowler
Learned analysis from OakBlokeANICI see we have a new quango to promote Cellular Agriculture: NAPIC.While not a fan of quangos I nevertheless believe this will be a positive for Agronomics (ticker ANIC). NAPIC is spearheaded by the University of Leeds, with a total investment of £38 million to explore innovations in plant-based, cultivated, and fermentation-derived foods."A phased transition towards low-emission alternative proteins which have a reduced reliance on animal agriculture is imperative to deliver sustainability and protein equity for one and all. "NAPIC will provide a robust and sustainable platform for open innovation and responsible data exchange and collaboration with partners from industry, regulators, academic partners and policymakers that mitigates the risks associated with this emerging sector, and also addresses the short- and longer-term concerns of consumers and producers."With UK approval for Meatly (coming to a Pets At Home for your cat or dog) is this the first of many regulatory approvals?Across in Finland Solar Food's Solein is a bespoke protein made from electricity and carbon dioxide, and replaces dairy with no cows involved in its making. Solar Foods will be listed on the Helsinki Stock Exchange giving ANIC its first public listing. Ajinomoto began selling two food products last month in Singapore: A flowering mooncake and an icecream sandwich. It has applied for US federal approval.?Ajinomoto is an £8bn t/o and £1bn net profit Japanese food products firm. Ajinomoto gives Solein has some strong backing through its partnership. Solar Foods next stage is to build Factory #2 which will be 40X the size of factory #1.?The Company's growth over the next few years is primarily based on two factory projects:Demonstration plant. Factory 01, has been commissioned in 2024, is approximately 160 tons per year for Solein. The factory's production will be sold to customers' test marketing campaigns and to pilot new products (like Mooncakes and Ice cream). The Company assessed that the implementation of these steps is a prerequisite for obtaining sales contracts for Factory 02. The actual investment of the plant was over EUR 40 million.Commercial scale production facility. Factory 02's production capacity for Solein is estimated to be over 50-100 times higher than Factory 01, which the Company estimates would generate net sales of EUR 80-200 million. The Company estimates that the production cost of Solein on the Factory 02 scale excluding depreciation and financing costs is currently around EUR 4.3–5.2 per kilogram and estimates that it will fall further in the future thanks to technological developments. The investment cost of Factory 02 is estimated to be EUR 150-420 million depending on the production capacity and the country of investment. Investment costs will be specified as planning progresses. The Company expects that investment decisions will be made by 2026 at the latest.We get a peek into the economics of this new protein.Using the RRP of Whey Protein as a proxy then 23 Euros/Kg is reasonable and assuming just 7 Euros/Kg wholesale price and 5.5 Euros/Kg production cost Factory #2 is profitable and would increase in profitability as debt fell and as production cost moved towards 4.3 Euros/Kg.ANIC hold 5.8% of Solar Foods who produce Solein valued at £17m. That's an implied valuation of £293m. A business who can produce a protein whose characteristics mirror that of dairy but is dairy free and has a vastly superior nutritional profile to dairy. For example Whey only has a high level of protein because it is processed. Milk has 6% protein. Solein has 60% protein but is unprocessed (so probably has higher bioavailability)Solein is cruelty free (no female cows constantly impregnated to keep the milk flowing; after all milk does not appear by magic reader, just like the birds and the bees). Solar Foods is a business which could generate £100m and probably up to £200m from its first main factory. That's likely to be worth at least 10X and probably 20X-25X, given its monopoly status, and capability to licence the technology world wide.By the way, it would only be a £293m valuation is if you paid the NAV value. But ANIC is trading at a 65.3% discount to NAV so you would be paying the equivalent of £101.5m for ANIC holdings like Solar Foods. Even applying some fairly harsh methodology to the numbers, at that discount it can generate earnings equivalent to a P/E of 1X. And 0.5X or 0.3X in time.
Posted at 02/9/2024 09:25 by nanopayments
The argument is true independently of any gains or losses. Trying to trade, or time short-term market moves is just another form of gambling. The vast majority of daytraders lose money. What people say on message boards, or the day-to-day buying and selling of shares on the LSE won't determine whether the ANIC share price rises or falls in the medium to long-term. That will be driven by the real market, the market for the goods and services that its portfolio companies are selling.
Posted at 31/8/2024 09:19 by mjneish
NC, you invested one week ago and already seem to be losing your patience because the stock market hasn't yet rewarded you.

This company is a long-term buy and hold. The real profits are still quite far away, and so at the moment the share price is sentiment driven. Even though the companies in the portfolio have been hitting milestones over time, this hasn't been enough to lift the price.

No one has any idea how long we will continue like this. There could be a jump on Monday, or next month, or we may have to wait quite a bit longer. Or this may continue to slide for the foreseeable futures. Trying to time it is a mug's game. You may be lucky and have got in just before a big rise, or you may be sitting waiting for goodness knows how long. Welcome to Agronomics.

And don't forget that there's no guarantee that any of the companies in Agronomics' portfolio will succeed. So there’s a chance that we will all be bitterly disappointed in the end.

A wave of negative sentiment has spread over the industry, maybe because of the realisation that it will take rather longer than expected for it to take off. This has also resulted in funding (apparently) drying up. Of course bad macroeconomic conditions may have made VCs more reluctant to part with their cash as well.

I'm sure that the more knowledgeable posters here could add to this or else correct me if I am wrong.

If I may say so, micro-obsessing over who is buying and selling, trading whatnots, and how the price is moving on minute-by-minute basis is a complete waste of time. Your inability to fathom the price movement has caused you to invent some “bad news” on the way which “may be NAV related”. After a bit more churning, the belief that “bad news” is on the way has then become fact, and then you've embarked on a mission to find this "bad news" somewhere. Finally, it’s almost funny that you think that this “seller” should come to this thread and explain to us all why he’s selling.

All this is the result of you simply feeding off yourself. Fluff built upon fluff built upon fluff. A lesson in folly.

I recommend that you spend less time posting and more time reading. Taking your eye off the share price and digging in for the long term wouldn’t hurt either.
Posted at 22/7/2024 09:24 by 1chrism
Meat focussed BSFA Enterprise for the first time today matched ANIC share price. It lacks the portfolio of Mellon's business and swings wildly. We remain in thrall to macro events.
Posted at 28/6/2024 11:41 by nanopayments
Definitely not my favourite topic. Other than the obvious conflict of interest with Jim Mellon, it's unclear to me what value Shellbay bring to the table. In addition, I don't think the directors counted on a situation like we have today where the NAV continues to rise, while the share price tanks. Anthony Chow stated recently that with current cash burn, they have 10 years of runway, which means he wasn't including cash payments for the performance fee in this assumption. So a continued rise in the NAV (which in all other aspects is a cause for celebration) can only mean more dilution as the performance fee is paid in shares. I don't mind dilution, if it's happening at or above the NAV and more importantly, if the return on capital is higher than the cost of capital (still theoretical until the portfolio companies start being monetised), but I definitely do mind this kind of dilution, especially with the share price at multi-year lows.

Most of the portfolio companies will also need to raise more capital and Agronomics is highly unlikely to participate in any more of those rounds unless the share price has a massive jump above NAV. Ergo, more dilution.
Posted at 26/6/2024 11:32 by 1chrism
Some salient points made. It really does make little sense to lean on poor share price performance considering: most if not all companies in the portfolio are not in revenue and have regulatory approval concerns. If the share price was thundering ahead it would be the sign of a pump and dump. And of course ANIC is living like all of us through a no growth period when it comes to fundraisingQue, I do think you have useful things to say on the structure of ANIC but of late you have become a bit circular in your criticism and awkwardly personal in your responses, especially for someone who has displayed the capacity to be rational. But as you note, ADVFN is foc and as such is maybe not the place critical verve.That said, the two new contributors (I think new) seem well focused on the individual challenges of the portfolio companies and their specific area of cellular agriculture. This is hugely useful when thinking about what to focus on re share price target, timelines and threats to growth.
Posted at 06/6/2024 09:58 by 1chrism
I think given the current macro indicators: interest rates, inflation, national and international political instability, the current share price of a venture fund focussing on new tech, the current location and trajectory of the share price is to be expected. If it is still looking this way when fsa approvals happen this/next year and ANIC start talking revenues then I will be joining you on the adjectives. For now, with no revenue, Id just say the share price is to be expected and in a world where everything else is rather expensive, we are getting a buy one get one free and some!
Agronomics share price data is direct from the London Stock Exchange

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