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@Yanis, if the bod had said, "look, we need some time to get the pilot plant well set up to optimise its efficiency at extraction" then most reasonable shareholders would have accepted that. I think some video showing each step on path to production would also be useful, perhaps with a bit of background geology too so it all ties in nicely. What I'd be interested in, is how they plan to identify the super high grade areas which will be of limited extent and unlikely to be intercpeted by surface drilling. Does the planned underground drilling include drilling down the lode so try and sample the orebody along the entire length of the coring ? What methods of extraction do they envisage ?
Working off scotgold's recent experience then the direct costs of extracting a ore is about £218 / T ore so with a "background" gold content of 2g Au / T ore and a x3 premium on spot then the mine would be self sustaining even at that. About £3m was needed in development work (driving new adits etc) to bring Scotgold's mine into commercial production. However there are pockets of ultra high grades which despite their limited extent, historically bump up the average to 17 g Au / T. Naturally, if we're going deeper then we need that dewatering permit. Without it, we still have the main lode extension. I'm hoping that the underground driling will intercept a super rich zone and that the reports of rich zones in level 4 Llechfraith are confirmed once dewatered.
The nearby former Cefn coch mine had a historic ore grade of 14 g Au / T. I believe there's a footpath that leads right up to it. Piles of ore too if you look at the youtube videos. Id be inclined to process some of that.
Yanis. I think the spin off of Greenland assets is very positive as it will place a value agreed by other invstors on them and the appointment of two NEDs lastyear with first class reputations confirms the prospects of Alba
@elir I’m unsure your question?
Degsie, I am not running the management down … simply stating facts. Facts. The reasons why the SP is rotting. Care to dispute anything from what I posted?
Yanis. Only five moans today. Why do you keep runnimg the management down if you are a shareholder and oresumably would likev to see share price improve?
Elir, I agree with you in that these delays badly affect sentiment. And quite often severely.
The worst of all delays (and a very serious error) was talking down the assays of last years bulk samples and at the same time delaying the sampling. That killed the very strong support at 0.3p which has now changed to an extremely strong resistance.
This is really annoying me and is unforgivable in my book. To add insult to injury, when the bulk sample assay results were announced they were brilliant but failed to boost the SP because sentiment has already been killed.
GF is repeating a similar mistake again by delaying the update on early revenue generation which was promised for middle of last month.
Scotalba, “Well done Alba, keep up the good work” - seriously? … ohh no … If they keep doing what they so far been doing the SP will be in the 0.0p range soon. Time for a change in approach to market expectations. Time for focused operations. At least time for an update to early revenue generation from the waste pits (promised for the middle of last month).
@Yanis, you make some excellent points and I think part of the problem is trust. It transpires that much of the delays and drops in sentiment comes from suppressing bad news. A realistic investor in a junior miner would expect there to be glitches with plant etc but witholding "bad" news does not support the share price, in fact, over the longer term it suppresses the share price as investors factor in to their own valuations the "bad news we dont know about". Delays should be reported as soon as they become apparent as unavoidable. It would be completely understand
Geez, I thought I figured the bottom some time ago, thanks to GF constant rumbling it has damaged the share. He should only produce news when it is relevant and would provide some support
Elir when they stated mid-May after previous timescales, I reasonably took that to be mid-May at sompoint. Just not this year
@Noobz does anyone have any information on the spoil heap fines exercise ? when they said mid may, i did take it as read that it would be mid may 2021.
Well done Alba, keep up the good work.
Waste pits done and lab results in 2 weeks should be mid May now mid June :)
“Far from moaning, I think shareholders should be congratulating Alba on the progress being made”
Congratulate Alba for KILLING the SP?
There is only one thing that matters in AIM investing — the value of the SP. The value of the SP indicates success or failure.
By all accounts the SP should have been at least 3-bags higher and is not.
Why is the SP not higher?
Reasons for the SP rot:
- Excessive management of expectations and not paying attention to market sentiment
- Downplaying results and delaying last year’s bulk sample assays (which ironically when announced turned out to be excellent).
- Taking too long to tune up the pilot plant (even though it was supposed to be in operation last Dec, then last Jan but turned out to be April)
- Not pushing for early revenue generation early enough.
- Not showing gold after spending well over a year in a gold mine, drilling and sampling (in 1979 two guys, one of them a priest, opened the mine and were extracting gold and producing commercial jewellery within the same year)
- Now, announcing the GL spin out at a time of zero sentiment, putting extra pressure on the SP (even though the spin out is a good thing)
SP … SP … SP … is what matters. What would happen to the SP if we get hit with another placing from this level? Four or five years ago I bought Alba at 0.75p … will we ever see this level again without consolidation? I am beginning to doubt it.
The only people who are moaning are the ones who bought in above this sp…me included.
As far as I can see, all is proceeding on, and under, the ground very well indeed, exceeding the company's own expectations.
In addition, the IPO of Greenland Listco raises the prospects of achieving an appropriate market valuation of the Greenland portfolio, almost totally absent from Alba's market cap at the present time.
Far from moaning, I think shareholders should be congratulating Alba on the progress being made (but you can't please all of PIs all of the time).
I've got 5m with avg at around this current price but would happily buy more if I had spare cash. I'd sell at anything over 1p (or equivalent if we're issued shares in the Newco) hopefully sometime in the next year or so.
Then load up some more Jeremiah 0:)
They'll be kicking themselves when the drill results come back showing up to $1bn worth of graphite at Amitsoq...;-)
Doesn’t look like anyone interested anyway, despite the moaning as you say. But I admire anyone’s optimism at the moment.
Well I can't see many people will be interested in buying in when they see the constant moaning on here...
I completely agree with you Yanis. Alba have too many balls in the air and are just not cutting the mustard at the moment. GF is becoming jack of all trades master of non………
Mark, IMO and I maybe wrong but I don’t think so, the Greenland spinout will not affect the Alba SP.
I am beginning to worry now about Alba SP appreciation - I don’t think GF has it in him to drive the SP up. Right now, the SP will go up on gold news and nothing else. Will also need sentiment support and GF has already proven that he is incapable of providing that.
GF should have given 99% of his attention on early revenue generation as well as showing some gold. Is unforgivable that he has not expended more energy on early revenue generation from the waste pits - this would have taken placing fears away. A showing of gold would boost sentiment enormously.
I hope he comes up with an update on early revenue generation soon and before any more Greenland updates since the latter, as we have seen from today’s RNS have no impact on the SP now. In fact, IMO, any more Greenland updates before gold up[date may knock the SP off.
Is anyone else concerned about whether the Greenland IPO will have any positive effect on Albas SP value, following the market reaction to this mornings RNS ?
I think you may be right Yanis, market wants to see gold. They couldn’t care less how many holes GF digs, and yes before anyone corrects me , I know we are in the exploration phase.
Lol, I was scolded on here for that same pencil joke about 4-5 years ago!
I can still remember the name of the guy who took it seriously - poole-gems :-)