George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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GOOD MORNING FOLKS.
I feel that we are all attending the BPC Open University:-
The course has been 10+ years and I for 1 have been perpetually revising as we have advanced through the course.
I have never revised so much for an exam - in THEORY we know as much as the experts.
We are about to take our finals.
DRILL Readiness exam is already a PASS.
STOIIP of 200 BOO = PASS. EVEN with CLN funding @ 590 mio extra shares = 33p SP.
Improved grades are incremental commensurate with size of discovery.
We are all hoping for a Msc.- 3BN+ BOO.
If we fail then all is not over at all.
We have the opportunity for a retake, post hurricane season if not before, as we are almost certainly funded for 2 drills by the time we drill P1.- CLN will pass or be replaced by superior funding.
Remember the condition for the licence states that we must “DRILL” this year not STRIKE. I would find it hard to believe that BG will stop us drilling twice if funding and rig etc are already in place.
Announcement of new OO @ 5p would initially depress stock slightly due to share issuance increase market perception which would be wrong. However, the market would then realise that we would definitely drill with cheaper funding and stock will rise appropriately thereafter.
Any new raise can be funded by selling existing holdings to fund new OO. Self fulfilling strategy as per OO @ 2p.
IMHO Any new OO will be circa current price and will be underpinned by historic 2p OO success particularly from IIs wanting to get in now we have drill conditions met. N.B. We did not have this pre OO 2p raise.
Cash available in general market will probably be quite high after recent overall markets sell off.
I bought some more yesterday on the fall @ 5.14p and will hold until the end - whatever that is!
I think we will see that price in the first hour of trading today. Depending on general market conditions we should attempt recent highs again over the coming days with “NEWS” enhancing this up move.
It feels like we have a guaranteed pass mark and I for one have already bought my Post Grad ball gown -
Its a TUTU (think about it!)
AIMHO and GLA
IK
XXXX.