George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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christ, another one for the filter bin...
Wow
If as you say the drillers are selling, then they're selling at a loss. Where's the sense in that when the idea from their point of view was to take a stake in the company and share in the future prosperity
3.9p would be great. Good luck all
@Graham, as I recently said to the missus "I'm not gonna rise to that". Good luck with your 3.9p.
It's all a guess and opinions but I find persistent assumptions and assertions that the drillers can't possibly be selling as naive and unintelligent.
Or maybe,If they were strapped for cash and couldn't afford to do the D4S scheme then they would have said "NO" . None of us know for sure and all entitled to opinions. GLA
are we assuming ARCM are the only customers the drillers have got?
Guessing the drillers have those diesel engines that run on fresh air then and staff that work for dust. Blimey. The mind boggles
@Graham,I do not believe for an instant that "the drillers" are selling shares that they took in order to achieve a significant upside because of the drilling results that they were seeing .They are extremely experienced at what they do and know the potential terrain that produces results. Thank you @Twohits for the informative breakdown,but I believe I have known for quite some time who is selling a shareholding but I would not even begin to speculate my theory on a forum.The seller(s) will not be far from the end of their campaign (obviously impossible to be sure but a good guesstimate),during which a lot of shares were sold.And over the last 8/12 months the market has soaked up their sale adequately.Anyone wanting to draw their own conclusions need only to look at historical shareholders,apply basic Maths .Honestly it's not cryptic.If we were not BVI registered then things would probably be more transparent. Nearly there,ducks in a row etc.
Shock horror, drillers might be selling, get real
He's guessing who's selling! It's a pure guess
You did oNCo - I just couldn't find any written evidence to back that up.
Unless I heard wrong I'm fairly sure NvS said in a recent interview that the drillers were locked in, and that they don't want to sell anyway.
Oh FFS Graham. Don't make yourself look too silly. Two Hits comments are not guesses
yeah all those numbers are just guess work...
FFS.
You're just guessing. It's all a guess
and yes there are restrictions
"The Drilling Shares and Settlement Shares are subject to certain trading restrictions to the volume that can be traded, which Arc will continue to monitor."
No specifics on what those restrictions are though...
whatever, the overhang should be gone by now
It's unlikely to be the driller selling. More likely the 4mm warrants issued end October and the 8m shares issued at the beginning of November to an historic creditor.
The drill for equity programme has issued the following since it started in july
3.85m @ 4.8p
1.6m @ 4.5p
6.5m at 3p
2.8m at 3.1p
I doubt whether much of this has been sold.
Other equity issuance since July as follows
Warrants
4m @ 2p (29/10)
1.7m @ 2.8p (18/07)
Payment to historical creditor
~7.9m at 3.1p
roughly similar total amount for drilling vs other two.
The 12m issued for warrants and the the historical creditor are likely to be the overhang. That said, the problem here is the volume, that amount of shares shouldn't be a huge overhang . Since the issuance on 29/10 about 44m shares have traded.