The results of the due diligence trials mentioned in August 2018 were received and this was reported at the AGM in May 2019. The results were said to have either supported previous findings and/or extended the value add proposition.
Multiple global companies embarked on due diligence trials that progressed throughout 2018 and into 2019 and results have now been received. The results have either supported previous findings and/or extended the value add proposition – which is positive. And therefore partnership discussions, including initial terms, are ongoing.
There have been further animal health trials since – the main potential commercial partner for TPM feed additive was said last year (Annual Report, March 2020) to be evaluating the utility of TPM as a feed additive in their own facilities and at their own expense.
I would expect that those facilities are overseas as AVE has previously (AGM, May 2019) described interested parties in animal feed as global companies. Therefore, they wouldn’t require the services of the Wagga Wagga Agricultural Institute.
The (testing) testing process is still not completed. Paul Gavin stated less than a month ago (Newsletter, 24 December) that development partners have continued to assess TPM in animal health applications and that further studies were planned for early this year.
It is taking a frustratingly long time and there are no guarantees at the end of it but the animal health testing is on the potential partners’ time and dime while AVE is focussed on partnering TPM injectables and progressing the TPM cannabinoids program.
AVE Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
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