George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Woop, 1.6 on the bid!
I want to be excited!
Yes mate it has been a long wait, I am reluctant to get to excited yet!
Looking good here today so far.
Interesting that some of the buys recently have been bigger than usual....
Oh FSA ffs you've gone and upset muggins now and he has gone and written another one of those big posts.
Oh muggins, muggins muggins muggins.
This seems balanced
‘The technology is good but there has been failure by management to successfully commercialise it.
They have little or no funds available. Shareholders will not support any further capital raise given the catastrophic SP collapse. Those shareholders closest to the company, such as Sunup and IP Group, have consistently refused to support recent fundraises – if they do not then who will? The company has raised £ms over the years but has little to show for it. Banks will not provide debt funding for a company that is clearly nearly insolvent, has no security and have already wound up a couple of subsidiaries leaving creditors high and dry.
The only obvious route for emergency funding is a sale of the Monitoring Division. Discussions were announced about a sale with one party over 3 months ago but no update since then. The prospective purchaser will be aware of the financial crisis and will be in no hurry to come to an agreement. The purchaser will have been trying to push the price down and might well decide that the lowest price will be achieved by buying the division from the administrator.
A month or two ago I would have said that the chances of a sale at a good price (£3-4m+) were high – say 70% plus. Over time it is an increasingly possibility that they will either not sell at all or the price will be disappointing. The success or otherwise of the sale is, to a large part, down to the strength of the management team. Management have consistently failed to deliver – few membrane sales, wobbly monitoring sales, a complete inability to commercialise the technology, failure to deliver Gibraltar and the forced winding up of two of the main subsidiaries. The departure of the previous Chairman who had a ‘mixed’ record was welcome although his replacement looks scarcely better. The CEO has presided over years of failure and a catastrophic fall in the SP.
If the sale does not happen then they will need to call in the administrators. Sunup will acquire the pick of the membrane assets, and the current potential purchaser of monitoring will pick up these assets for a song. Shareholders will get little or nothing and SP will collapse as a result.
If there is a sale of Monitoring at a decent price then there is likely to be, in % terms, a significant increase in SP. If they complete the sale of monitoring and a significant sale by the membrane division then the SP will rise sharply and probably generate interest from a potential acquirer – the market is substantial. The chances of this happening are remote with current management.
I am concerned that there will not be a sale at a sensible price and, given the delays and lack of news, these concerns are increasing. Given the uncertainties, the high level of risks and concerns about the BoD the SP is full and, in the absence of further news, I expect that there will be an ongoing SP decline as the market takes a view about the increasing risk of no sale of Monitoring‘
Yes balanced views but I cant say yours is balanced either. It's on the scale of total deramping!
No agenda - just appalled by the blatant ramping. Clearly there are some on this board who have invested more than they can afford to lose. Suhail has spent the last 3 months forecasting the imminent announcement of a corporate sale - still waiting. Forecasting imminent share price breakout - still waiting. Seems that these boards should provide balanced view but every time this happens the poster is subject to vitriolic attack. Blatant ramping is fine but anything else......
Muggins you seem so bitter about this share. The agenda? Hmmm
Suhail and Trump have been forecasting the sale for months. They have been wrong for months. A bit of realism would not go amiss here.
Cheers!
Hmmm - buy and a sell? Back to 1.45p finish...
Hope so, I've not had my Santa Rally yet this year!
Filtered...
Just as likely to go down the Krug crack
1.6 seems to be the first stop
As every day passes without a deal we creep closer to the administrator being called for the rest of the companies. Let us not forget that the group has already liquidated 2 of its main subsidiaries. This company is running on a fumes and the longer the lack of news about the sale the more I fear. It has been almost 4 months since we had an update.
Buys!
IF.....that is the question .
been building a position in MWG last few days, great price to get in at especially with the news to come out. offers a great recovery opp too, with majority of shareholders in at much higher sp and low freefloat on news this could move quite quickly. GLA
Break 1.6 and we're away
Whats the crack with this one then?