George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Take comfort from this sentence in the 12th. March RNS.
Strategic process
Indicative, non-binding offers for a partnership interest at the Lithium project level have been received and discussions with potential partners are progressing well.
"offers"
"potential partners"
Plural.
If you have several different interested parties in something you have for sale would you be in any hurry to make a decision? I think the longer this goes on the better the potential outcome.
TDT
Fairish points catchingpigeons, but he has had long enough and the updates are very weak, and we all know many AIM companies that do this, the best ones just go out and do it (like say err KODAL).
going back to the video didnt he say something like we are conservative in the planning but quick in the execution ?
i think i could re-write that for him quite easily. its not as if he even needs regulatory approval to my knowledge, the biggest hold up is usually with African regulation so if this is just andrada and a bunch of bankers assessing bids its taken far too long.
and bidders will not wait forever, they want the resource and usually with anything in life you are only really patient if the item is really unique (ours isnt) and / or you think you are getting a steal. so something doesnt add up for me, UNLESS he is carving up the whole territory to multiple parties for seperate bids but i dont think that is the case because of lack of resource definition in some areas.
That would be the other thing, are the bids awaiting more drill results, in which case sort of fair enough but he should communicate that, but doesnt seem to.
The amount of years I’ve been in this game I never take anything for granted and I think we all know in the mining game timescales are never short they’re always being extended for one reason or another as that’s the nature of the beast i do get where ur coming from TT but on re playing that video which I know is a proactive special but when he says the size of the deposit is a behemoth and he also says he knows that all investors are waiting for the partnership news and then follows it with there is big news on the horizon … I just can’t believe he would say that if that wasn’t the case surely . I know don’t call u Shirley but after seeing Robin Mayes ‘ video & putting all the pieces together with this one I think despite him overstating matters in the past there’s no doubt in my mind he knows exactly what’s coming here , so I guess u either run with that or u still have your doubts . Personally ,I think it will be worth the wait myself but just as it should be it’s each to his own but I accept fully the points u have made cos I’m quite happy to get a different take on things as that’s what these boards are for . Anyway shouldn’t be too long now b4 we find out one way or another so fingers crossed & a great weekend to u & one and all
I’ll keep adding why others are selling . Some frustration with holders I hear some points however they are doing what they set out to do . I think some need to cut and move on . That’s my opinion of course.
"should" and "could" the ultimate words in modern society, which mean nothing and usually used by politicians
When asked in the interview about the scale up of the operation (so-called phase 2, which no one seems clear about as still an objective for ATM, maybe phase 1.5..?), he states that this should be 'self financing from here' (at 6.15 mins).
Really? Last I saw from both ATM and H&P was this was forecast to need finance of > $400m, but hasn't been mentioned for some time.
ATM is still not profitable and doesn't produce +ve cash flow, so where does this kind of statement come from and what backs it up? Unless something dramatic has happened with the company's cashflows that has t to be reported.
Is this for real or just another off the cuff statement made on a call that don't stand up to any scrutiny. He's been gulity of this in the past. What backs it up?
Yep, keeping the faith.....significant progress, discussions at advanced stage
"We are pleased to report significant progress on the Strategic Process. Discussions with international organisations from within the lithium value chain are advanced. We are encouraged by the level and quality of interest from interested parties."
Https://youtu.be/HTtRLoyiJ0M?si=7X_a1m7LIl8uW3Eg
For anyone who hasn't seen this presentation, the coming year is mapped out by Anthony, he says the conclusion of the strategic partner ,and big news on the horizon.
Tin bouncing back closed,just under 28 kpt,The LME stocks draining away fast,dipped below 5000 tons today,
Good amount of job vacancies https://andradamining.com/careers#vacancies
Completely agree bohercom, for those on here that are happy with the direction must have incredibly low standards. its fine that the direction is what it is but we have an eroded share price, very little interest and very low volume, none of these are good. the execution is very poor.
the appointment of our "advisor" was 11th of may 2023, far longer ago than i thought. as i expect this to be concluded at earliest by june and probably longer, that is just not really acceptable.
other timeframes in other far more complex areas have been achieved sooner than this. oil block farmouts which would be on hold pending flow rates etc (i'm referring to AOI farm out of the orange basin). Drilling deepwater prospects are QUICKER than this, and these are complex high tech advanced engineering frontier breaking endeavours.
all we do is drill and sort tin and get a deal together for lithium, its not complex.
it feels to me like this is dealing with a very slow entity like the EU. The chinese seem to move far far quicker, and in the commodities world when a resource is needed the cheque books open pretty fast. Total moved very quickly in Namibia.
so really cant see what the issue is and even then the communication is really minimal
I'm bullish about ATM, it's one of my larger holdings and I've held since 2021. My frustration is not about the direction of travel - I'm happy with what they're doing and achieving - it's about the pace they do it at.
To pick one example - the AISC has been a problem since the start, and ore-sorting has been talked about for over two years as a way to improve the feed grade, increase tin recovery and lower costs.
An update on 6th April 2022 was -
· Ore Sorting: This facility will increase tin concentrate production by increasing the current feed grade by a factor of 2 - 4x. The Company aims to achieve this by using x-ray transmission (XRT) ore sorting as a dry pre-concentration method. An XRT ore sorting test plant is planned for implementation during 2022 with full-scale production expected in 2023.
The latest update on ore-sorting was "Commissioning of the circuit is planned for Q1 2025". Let's be honest, that probably means full production in Q3 2025 at a guess.
Things always take longer than expected, I know that. It's more complicated than I can imagine, I get that too. But to give a date, then no clear updates for two years, and then to state it's still a year away ? There's something wrong with that.
The Strategic Review is following a similar pattern.
Like almost everyone here, I believe there is huge value to be unlocked in the assets, but I really think ATM need to vastly improve their communications around their plans and timelines. I can understand people selling if they've just reached the end of their patience in waiting for the "transformational year".
Spot on CCC .
Ccc
Yes also my thoughts,I’m well happy with the way things are going.AV is delivering on everything he says,the big deals will come,and the share price will act accordingly
CCC.
Agreed.
TDT
I sense some frustration building, i would go as far to say maybe this share is not for you Toptiger and best stick with Kod.
I will add that you made your feeling known for a while now but the continuing theme you are posting becomes questionable and maybe another agenda is being stirred.
Everything done to date has put the company on the cusp of becoming a very successful mining company, the icing on the cake will be the correct partner, i agree this has taken longer than hoped, but it happens all the time and is not a specific issue for ATM, i am sure the reasons will be communicated once announced.
Might be best and not to look at the daily share price as it does not reflect the progress or potential of the company, just like many other companies listed, each having the same posts moaning about the share price and coming up with all kinds of ridiculous theories as to why.
I am on the whole very happy with my stake and very much looking forward to the news ahead, the share price will do what it does and will never please the masses all the time.
The deal will not be eye watering and if the mkt believed it would be we wouldnt be at this price. it might get to 7-8p its not going to climb 300% or anything like that.
he should never have said it, its done us no favours and if its not amazing people will just exit (i know i will)
What I am saying 2024 has to be ATM year, make or break, as AV has had enough time to get something on the road.
When you compare to say KOD, as posters mention they just get on with it, I do think AV is too PR with the comment, though I have no issues with that style, as long as you deliver.
The eye watering amount offer comment, I would like to have a vote on that, as I bet some maybe like to take a mouth watering offer fairly soon!
Gut feel for me is there is more milking going on than a devon farm !
I hope Barclays dont charge an hourly rate thats for sure! Is a bit of a joke how long its taken aspecialist sub contracted outfit to yet to come to a conclusion given the inbound interest. 12 months...
Gut feel is we have to be very close now
And its wierd because the SA miners i know of are REALLY REALLY GOOD (sylvania spring to mind) and just get with stuff and no BS. So not sure what our problem is.
Also a great country to mine in (love Namibia from my interest in africa oil / Venus).
So really he has no excuse (and dont like the barclays incestuous relationship either)
The other disappointing thing about comparing KOD to ATM is share price performance.
Since the day at Lei (David) Teng visited Andrada (22-Jul-2022), KOD share price has nearly doubled, and at one point was over 3 times higher. ATM is now below where it was that day, and was for just one day, 1.8 times higher.
I know it's an arbitrary date, but for ATM to be two years on, and still on a lower share price, is not a good record. It's a different sort of "eye-watering".
He frustrates the cr+p out of me as well. Still waiting for that 'transformational' year for ATM he's been spouting on about since 2021. And he expects that to happen with a cohesive funding strategy to finally deliver the value & potential that is so clearly evident in the mineral resources the company is sitting on.
One positive in the latest hyped news release, finally a recognition (& mention) that ATM has to deliver +ve free cash flow in this FY. Only taken six years to realise this is actually quite important.
Finance, never been one of ATM's strong points.
I still argue that there's a good deal to be done in selling ATM to one of the many so-called interested parties - waiting for AV to deliver has become tedious.
I've got some askari, so might be interesting (though i very much doubt, there isnt anything really that interesting with ATM)
That was a dictionary quote to explain what eye watering means, but can understand your conclusion, i should have posted the link:
https://www.ldoceonline.com/dictionary/eyewatering#:~:text=From%20Longman%20Dictionary%20of%20Contemporary,%C2%A34%20million%20a%20year.