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George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’
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11 million shares admitted to aim april 30th at 0.00875 to pay £10k fee. The amount issued to pay the £250k won’t be known until the day before I’d imagine.
Ownership is rather confusing in the rns!
Indeed actually considering the markets they got a decent price
It’s in the rns issue roughly 8m shares to market it says at the bottom of the rns. The good point is that they are higher than current sp although a few weeks ago we were valued below sp I don’t know how that has moved so much in a few weeks.
Of course this will be illiquid for a while and options at .2 suggests they expect upward growth.
Do we know who will own the other half and what state it is in if this is proven great if it’s a load of dirt pre exploration that’s a different proposition
See I originally thought we was buying a part of their licence in the same area considering they are looking at takeover right now
Noobz,
Alba's license area is to the immediate North West of Azure's license area, hence the posts on Azure's lithium discovery.
How do they pay for this?
Guys I have done some digging after a hot copper reply.
We will own a percentage in AW1 (E47-3373) and AW2 (ELA47-4844) license areas. These are not Azure licences areas if you look at the map. Azure is E47-2481 and E47-4761
I think what we’re buying is not at all linked to them and shares nearology with azure, artemis and Carlow as well as a few other tenements. Who knows who owns the other % and what if any progress has been made on that patch of land.
I think we have all been mistaken in thinking azure area.
I am also very confused why a company focusing on Welsh gold who have yet to prove its worth is switching focus overseas. Looks like more dilution/cost when we should be focusing finances here. I like the increased price of the shares issue/warrents it gives strong confidence in the price and adds some illiquid shares to the mix. However the rns states near 8m or so more shares to be added more than the last round issued!
Why are we not focusing recourses on clogau is this going to be a HH part two?
We’re a relatively small fish that hasn’t got ourselves in proper order swimming in the deep end of with other projects. Let’s remember when GF stated he wanted to offload other projects we had previously to focus as a gold company…
Also why back to EV isn’t this better suited for groc?
Hopefully I’m wrong but seems a distraction coming in left field leaving me questing why and can we afford it? Strong questions to be need to be asked to explain this maybe I’m missing a point here? (Unfortunately GF didn’t give us a vote on the matter)
Just to add: the video gives the impression the opportunity in Western Australia may have been irresistible.
Thank you for posting the video, FollowTheVein.
Clogua is progressing to eventual production which will income generate but be small scale .groc is off loadedand also progressing. So why not?
Can't not can explore, test etc with shares.
I'm not convinced on this move.
Its speculative and on the other side of the world!
We have a current Market Cap of around £5-6M so hardly Rio Tinto and the additional costs and distraction of the board with all that's supposed to be going on, I'd suggest is not needed, at least currently.
The £250,000 of shares also is another dilution. Ok at 25% up on the average but within 30 days and 15 days average prior to that!! I hope there's some good news that boosts the SP up this next couple of weeks, so a bit less shares issued.
Also it will be a dilution as these shares will be sold as you can explore, test and etc with shares, its got to be cash from a sale of the alba shares, therefore will obviously hold the SP down whilst this is going on. So about 350-400M new shares floating about holding us down even with some good extra results from the samples, blasting and aero surveys.
One of the 5 year licenses runs out this year. So what has been done over the last 41/2 years? And at what cost or time to renew this license.?
I do like the idea of diversification but if the current BOD and paid staff ? Plus work experience are so busy with the current business then why take on the extra loading now.
Maybe its an opportunity that must be taken now?
Maybe its to try and prove the asset and then sell to the bigger player next door at hopefully a great profit ?
If it was such a sure thing then the existing owner probably wouldn't sell.
Basically I'm not keen, but I'm not on the BOD, so my opinion has no sway.
Anyway DYOR and fingers crossed. Etc
Azure Minerals 2023
https://youtu.be/hTWfuiZpEWg?feature=shared
Liz Henson a Director at Artemis now.
George Frangeskides & Lenigas were both at Artemis when Alba bought Amitsoq.
GF has Australian contacts.. I thought Pilbara was Gold Country.
On LinkedIn now Ex Geologist Samuel Hooke, who left Alba in December is looking for Work in Western Australia.. Coincidence :))))
So a bit like Wales really.
I didnt know that Noobz, very incestuous in that area of the Pilbara. Especially with the crappy microcap stocks and tenaments.
Remember GF used to work for Artemis once upon a time so knows the landscape over there worth a mention. I’m incredibly busy atm tho to post my full thoughts which are that of confusion and skepticism until we get a full video explanation of why
Share price will have to go up if they're going to fund Mrs Henson's sub-contractors in Oz.
I am not overly excited by the Pilbara.
I particularly remember the episode where they fly to Australia to look for gold in a Welsh mine…
"It's sexy for management ."
Now they will demand the pay of the CEO & BOD of a Global MEGACORP. No doubt a placing will be along in half the time that ocelot will post that they have cash resources for (or even less).
Furion ... I am with you . Just focus on the Welsh Gold . When they seperated off GROC i thought that was a good thing to acheive more focus on both . We dropped some licences in Ireland . Again a good thing now concentrate on the asset where we can get revenue most quickly.
Then what happens ? ....let's speculatively go to Australia chasing Lithium. It's sexy for management . Happy to be proved wrong but I bet its costly for shareholders.
It does look that way Furi.
Having a read through the recent news, lots of spinning plates for a tight budget.
🤦🏼♂️
Spreading ourselves I just want him laser focused on clog jeeez
Revenue revenue revenue