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[bamboo2] 13/5/2021 22:35

First Light Fusion Ltd - First Light Fusion Installs UK’s Biggest Two-Stage Hyper-Velocity Gas Gun
13 May 2021

22 metre £1.1 million hyper-velocity gas gun now complete.

Gun can fire a projectile at 6.5 kms per second.

Gun will complement First Light’s electromagnetic propulsion device “Machine 3” to advance its projectile fusion technology.

First Light Fusion, a global leader in researching energy generation via inertial fusion, has completed construction of a 22-metre-long two-stage gas gun as part of its experimental efforts to develop a simpler, faster, and cheaper route to commercial fusion energy.

Weighing 25,000 kg, the new 38 mm gun is the largest of its kind in the UK and it fires a 100 g projectile, which can reach a maximum velocity of 6.5 km/s or 14,500 mph – 20 times the speed of sound – using up to 3 kg of gun powder. First Light has successfully fired first test shots, with fusion experimental shots on the new device starting in June.

A two-stage light gas gun works by converting the energy released from an ignited propellant into the compression of a light gas, usually hydrogen. This produces gas pressures approximately 10,000 times atmospheric pressure which then launches the projectile. When fired, the gun will launch a projectile into a vacuum chamber at huge speed, impacting a fusion target – the centrepiece of First Light’s unique technology. That impact aims to create the conditions required for fusion.

These ‘hyper velocity’ devices are typically used by astrophysicists to simulate meteorite impacts, and a similar gun was used to test the panels on the International Space Station to ensure it could withstand impact from small objects travelling at massive speed. The gun will be used in parallel with First Light’s ‘Machine 3’ and will allow engineers to explore a different parameter space by launching larger but slower projectiles. The new gun will be housed in a specifically constructed 10mm steel clad facility within First Light’s headquarters in Oxford, monikered “The Citadel”.

Dr Nick Hawker, CEO of First Light Fusion, said:

“This new gun is an important piece of kit for First Light Fusion and will help us accelerate our development timeline. It will complement the work we are doing with our unique electromagnetic launch pulsed power machine, Machine 3.

“Our fusion technology is driven by the impact of a projectile travelling at significant speed into a fusion target. These targets trade pressure and size, amplifying the pressure from initial impact to final collapse of the fuel capsule, which is a small part of the whole target. This new gun will deliver lower pressure than Machine 3, so we will have to rely on designs that amplify more. The larger size means we can do this and still get good performance.

“With both facilities together we can make more than twice as much progress on the most important aspect of our technology, which is the target. Thank you to everyone for their efforts in bring this project together so quickly, it has been a fantastic team effort once again.”

The investment follows a recent $25 million fund raise backed by global institutions including IP Group PLC & OSI. First Light is growing fast and now has more than 50 employees based in Oxford. The two-stage gas gun project took only 10 months from concept design to delivering a fully operational test facility, which shows the great focus and effectiveness of First Light’s team.

[p1nkfish] 13/5/2021 17:42

Trend works, charts help with trend identification, the rest is risk management to protect gains should the trend change.

[pierre oreilly] 13/5/2021 16:47

That's interesting wb, i'll have a read around him.

The other more famous people who designed the bsm model for option pricing and exploited the differences there also initially made a lot. But even with nobel prize winning economists and mathematicians, the analysis of future prices seems generally not to be in reach. The bsm model worked fine for a while, and was correct for the boundary conditions. Once an event was beyond the boundary conditions the model fell apart of course.

Incidentally, it's also Fischer Black who confirmed the scientific evidence showed successful traders were lucky, unsuccessful ones unlucky. Of course, what happens in practice is you can be lucky for a while, and then unlucky. Assuming some sort of magical skill deducing future prices from graphs of past prices is probably a dangerous thing to do. It explains the warning given when a trading account is opened. (of course trading opm and taking a cut is extremely profitable and low risk).

[wetpantz] 13/5/2021 15:09

Webinar today highlighted Waveoptics working with several big tech firms to bring AR products to market. Difficult to find much public info on the competing waveguide companies but has the potential to be another big winner in the portfolio given the sizeable holding.

[wba1] 13/5/2021 13:41

To everyone their own approach to investing. But for a real insight into quantitative approaches to investing it is worth reading up on the views of J Doyne Farmer. An early expert in chaotic systems, he made a fortune exploiting small short term inefficiencies in stock markets and then returned to academia as a maths professor at Oxford. His explanations of why linear analyses are useless (and charts are linear) as opposed to non-linear analysis is informative and comes from an expert background. My other problem with charts is that any system which is easy carries no lasting advantage - because others can see the same data and do the same analysis. It is simply another variant of the old investor question - does your product have a lasting advantage with a high entry barrier. Charts do not.

[bamboo2] 13/5/2021 11:06

eeza, Most have their own style and influences! We'll find out in due course where support lies. Added a few to the sipp near the lows today.

Once Oxford Nanopore have their London Calling Event finished next week, we should start to see some more flotation activity.

[bamboo2] 13/5/2021 10:11

Lara Lewington online now. Just getting going with Technology Trailblazers Webinar.

There are live Q&A later.

[eeza] 13/5/2021 10:02

Thank you, bamboo. My charting not as good as yours.

[bamboo2] 13/5/2021 09:59

Hi eeza, Re H&S, I am working on the daily scale.

I have left armpit 25/3/2021[118.4], right at 6/5/2021[123.2]
Based on Bulkowski stats...

Head height is 14, target is 55% of hh.
Measured from neckline break 123-7.7 = 115.3

Adjacent historical support approx 113.5-114.5

Should be about there now, but my chart is showing a turn more likely tomorrow.

[eeza] 13/5/2021 09:53

1p of the drop accounted for by being XD for 1p today. Payment on 16 June.

[eeza] 13/5/2021 09:44

H & S looks to be in play now. Target 105p, bamboo?

[p1nkfish] 12/5/2021 10:01

Charting is an optinal input, not a religion. Useful extra level of input to help make decisions. Once I started to take price vs time and volume vs time into account (along with some maths) my results improved. If it doesn't work for others, that's OK. I need it to help offer an extra dimension.

[scubadiverr] 12/5/2021 09:28

Always best to hit the apex on a turn. Think we might to talking about different things but that's my view.

[bamboo2] 12/5/2021 09:18

Pierre, I used to have exactly the same view on charts as you and I would regularly filter those presenting chart based ideas because it was hard to understand the terminology/jargon.

Things changed after I started experimenting with patterns and apex based turns. Now they work really well for me. Obviously we are not charting randomly, and other factors are used to screen for charts of interest.

They are just another useful tool.

[eeza] 12/5/2021 09:06

Chart - believers vs non believers = Brexit Remain vs Leave.

Opinions, fiercely held.

[p1nkfish] 12/5/2021 08:47

bb2, noticed the price action in IPO & GROW?
Both bouncing off sopport today.
I'm thinking there is another leg down due over Summer, not bottomed yet - just an inkling.

[bamboo2] 12/5/2021 08:09

eeza, thanks for confirmation. Most aspects I am clear about, but Ex/d and ex-rights dates always leave me feeling slightly uncertain!

[bamboo2] 12/5/2021 07:55

smose, The scrip price will be set 19/5/21. So you can calculate how many scrip shares you will get, if you choose them.

There is no dealing charge or stamp duty, so if you want to increase your holding, it's a good thing. The scrip issue will result in a small dilution, depending on how many choose it, so some may also take this into account. Benefit to the co is that the cash balance [and therefore NAV] remains higher.

You have until 28/5/21 to decide on taking the scrip or cash, so there may be a small arb on offer.

Payment is 16/6/21

HL should give you a choice once the share has gone ex/d.

[eeza] 12/5/2021 07:49

XD is effective at 1630.01 today. i.e you have to be holding at close today to be eligible for the Div.
You can sell at open tomorrow (0800 Thurs) and still receive Div.

[smose] 12/5/2021 07:44

@bamboo2
How do we opt for the scrip dividend? My IPO shares are in HL

[bamboo2] 12/5/2021 07:36

Share goes xd at eod today.

Looking at divi rns there could be a two day settlement, so I am unsure of the day you can sell, still retaining the entitlement to the divi. Could be Thursday 13 May or Friday 14 May.
Anyone able to confirm?

The scrip alternative is interesting because it avoids a dealing charge, and .5% stamp duty, so currently I am going to take the scrip.

[bamboo2] 12/5/2021 07:29

eeza, We already had small one which hit tp today. There is also a bear flag which is the rh shoulder of this small h&s, which has its tp at 118.4

I can see what you mean about a possible larger formation, although there is a similar shape further back down the chart end of December to January 2021, that didn't shape up.

I have current NAV approaching 140, and hope that this discount will be noticed by the market.

[eeza] 11/5/2021 21:12

Only the most basic, bamboo. But always useful to see where support and resistance are likely to be encountered.
Fundies might change - but human nature doesn't, and the battles are displayed in the chart.

Possibly H & S forming?

[bamboo2] 11/5/2021 20:49

eeza, Good charting! I thought we would find support adjacent to the prior gap, but a visit to the lower end of the support zone was always possible. Do you use TA often?


eeza - 05 May 2021 - 17:21:01 - 1077
Chart suggests it's heading to 120p support.