George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Thanks Jackal5
to be honest the only thing that am interested in is the next actual drill date
They have been going for 5 yers now according to the interview, if that isnt enough time to "survey to identify gas filled reservoirs" and to use "remote sensing technology to identify previously undetected surface seepage" then theres something wrong.
The drill date is really the important factor for me.
Sorry about the Q!
No1plasterer check the presentation:
Remote sensing technology to identify
previously undetected surface seepage:- Q4
2021
ERT/MT survey to identify gas filled reservoirs
near surface:- Q4/Q1 2022
Target drilling with lightweight rig:- Q1/Q2 2022
Q
I’m sure many investors knew this being an exploration project was inherently risky and therefore invested what they could afford to hold for a longer period of time. Of course it was hugely disappointing that phase one didn’t establish a commercial discovery but ultimately this was always a possible outcome. Unless you think there is no chance of a discovery next year I wouldn’t sell now as the price will inevitably rise as the new drilling campaign starts. I would think the chances are better next year than this simply based on what they have learnt during the first drill.
so my understanding is that the next actual drill will be in summer 2022 after sourcing the correct drill etc and between now and then " rainy season' will be spend exploring and taking samples etc ?
Jackal- spot on :-)
Good post Longwait.
You're quite right, this now becomes a good opportunity at these levels. You may get a better price, but at some point early next year, we're drilling. It's the same amount of time to wait as we have since phase 1 ended.
If people are selling from buying in at 20p plus, because they feel this will drift, to chase the next big thing, then they must have money to burn!
In the next 4 months this will likely be over 10p as the drills start and then 15p+ in anticipation of results, then either 20p+ on discovery or back down again where we are now if no discovery waiting for the bigger rig to arrive.
This is pretty much the same time since the first drill started back in June.
It's really not that long to wait. I accumulated from last December when I saw this as an excellent opportunity, I had to wait 7 months to derisk, but worth it.
This will be history repeating. Newbies will come in, price will rise and those complaining now will have missed the opportunity.
If you take a look at the comments posted here on 2nd of August - the day that the share price peaked at 28.5 pence - there are dozens of comments and almost every one is favourable to the company and the share price.
Only one poster - harpmandoodle - expressed scepticism, and he was shot down:
'@harpmandoodle Are you a troll? Or do you just very low IQ?' (Wes_Sam)
'why keep asking the same question, and in a manner that suggests a deramping agenda.'(KeithOz)
There was great optimism:
'Nice 400k buy @ 28.25' (Nate-PI)
'Someone loading up...... lucky git' (bigbench)
[the mid price at that moment was 28.525 p, the very top]
'We've also had 13 x 100k buys, sometimes in v quick succession which suggests somebody else loading 100k at a time iceberg trades. I wonder if it's possible somebody knows something that we don't? It's positive no matter how you look at it.' (Nate-PI)
'those that want to de-risk are surely very few now' (wyndrum)
'i have no doubt there is a big fat buyer mopping these up sub 30... just annoyed its not me! ;-('
(bigbench)
' pile on the good news and we can go to the Moooooooon !' (Xerxes300)
'You could be right Xerses ... if there is an avalanche of demand it really could be quite something.' (wyndrum)
'sending the SP back up and beyond 30p.' (BigPlan)
'a small pull back to 27p might look to be on the cards' (wyndrum)
'. 27p may well have become the new support especially if we exceed 29p in next day or 2' (BigPlan)
'Just be patient, sit back and watch the SP tick up and up.' (TheGuvnor78)
Now there is great depression, apprehension about the company's future, and demoralisation on account of the collapse in the share price, with some investors complaining that they are nursing large losses, having piled in when the share price was high.
I've seen it all before - it happens regularly on AIM, and happened recently on AYM.
I suppose the most infamous case in recent years is Sound Energy, where people put in huge sums of money at inflated prices and the share price then fell by more than 99 percent from its peak.
I don't know what will happen with this company, but it looks to me like a very good buying opportunity - assuming the helium is actually there.
Unfortunately for most AIM investors, they will not buy when there's a good opportunity but will pile in when there's a bad opportunity.
Ody- you saw promise in the project. The price is a dog now but the project is still the same. I’ve got 500k shares + @ a lot more than the current sp…. I’m holding and hoping. The plans for next couple of months look reasonable and if/when they secure a good rig I feel good news and times will be with us. I concur that currently this place is worse than farting in your space suit….. but there is still huge potential here! Realistically there won’t be much interest/invest for a while but once news of progress starts flowing we should be in a better place.
Cheers
PJ
Holding about 140,000 shares and about £10k down on this. But that isnt what is getting me down. It's the fact the future of HE1 doesnt look bright.
Any bright spots on the horizon from others?