George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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7am
Signed off
Dates set for drills
10p re rate lol
Not ramping just having a laugh on hols friday so really want good news but tbh im here long haul, great potential, who needs ggp lol
I am sure Art said in a recent interview that he has procured a drill and hoping to get things moving quickly once the agreement is sorted.
MrNation - If all boxes are ticked how long till above mentioned gusher?
3 months, 6 months, 12 months?
The final 2 trades today totalled around 18 million. From just before 3pm I counted 14 Buys and 7 Sells of more than 1 million.
We'll know in the morning if this was significant.
Here's hoping!!!
It’s anyone’s guess.... it’s not unlikely for extensions... from my understanding a lot of money has been spent so there’s no need for a deal not to be done? unless greed is kicking in from one party?
Imagine after the RNS at the start of June if Art had said that agreement will be signed soon and there was no date given.
Tomorrow will be 2 months, now imagine that we hadn’t had any RNS other then the Issue if Equity, by now Art would have been crucified and the SP below 0.10p.
IMO - things are out of Art’s hands and in the lawyers, the reason Art has been giving us dates is because he is desperate to deliver something positive to shareholders.
Art will deliver, today’s trades give us a clue.
CawCaw,
Reply to your 15:17 post.
I don't think Art is as clever as we all think he is. I really do hope the deal is done well before the license expires.
deadlines are to put pressure on the individuals negotiating and agreeing , not for traders to putchase or sell, I negotiated a 12M telecoms contract for a UK rail company and it took 6 months when i thought it would take 2 weeks as verbally everthing was agreed , every week we set anoher week to conclude and somebody made it harder and stretched it out in the end had to use arbitrators carnage. This is nigeria , Canadad, multiple parties and egos and Oil anything can happen but the upside is of great potential and patience is required
You do like to try and twist the knife in don’t you Uncle.Very unpleasant little chap and you’ve done yourself no favours posting nothing more than guesswork on a share your no longer invested in .Very p——-s poor behaviour.
He won’t meet the deadline just watch that’s why I sold out last week
".. it is only great if he meets the deadlines he is giving.'
Oil_Beast are you saying companies should only give timelines if they can guarantee meeting those timelines?
In this case the companies involved first had to get agreement on the proposal for an extension and then secondly a date by which that extension ends. We really should be getting informed of such important information and I'm glad we are. Whether the timeline is met is immaterial, it doesn't wipe out the absolute fact that a crucial timeline was made on an equally crucial issue, settlement of the one thing that has been holding up this whole project. Delay is one of the risks, that it may occur shouldn't be used as a reason not to inform investors. Just let us know if there is a delay, the reason and the new timeframe. Just like the CEO has done here. Good on him, for once he has got the communication bang on.
CawCaw, I guess this timeline was set because he had to report the initial 35 days for completion as per the proposed settlement. When that wasn't achieved he did the right thing and gave an indication of timelines of when he hoped it to be achieved. Not to have done so would have left the doors wide open for claims of 'there's problems' and 'it's never going to happen'. Just imagine what this board would have been like if he hadn't given a timeline and we would now be a month further on without news. I think there would have been a more than reasonable drop in SP and this board would have been carnage to read. Also worth bearing in mind these are officially announced timelines not ones voiced spuriously on a podcast.
Additionally will you not wanting timelines on drilling?
He's been given so much stick (rightly) about leaving us to fill in the knowledge gaps due to poor communication from him I have to say I think it's great he's now giving us timelines and long may it continue for my mind.
Here's what I don't get: Why has Art set deadlines at all?
The only deadline as I understand it is the expiry of the license. (Or running out of cash which would be in 2021.)
Why has Art been picking these arbitrary dates for the conclusion of the agreement -- which he then misses? Why not just conclude it when it is concluded?
I'm not saying it's manipulation, but I am saying that it then creates some predictable (to Art and anyone else with knowledge of the negotiations) oscillations in the share price. Which creates known good dates for placings, exec share purchases, etc.
Is there something that I missed or don't remember that caused him to have to inform the market that the agreement would be signed by such-and-such date?