George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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There have been plenty of placements recently some at a premium some at bigger discounts to this. Those that outlined the use of the funds have took off. People need to remember that this isn't to cover wages, admin or office costs the day to day crap, this is to make things happen and is all interlinked with Government approval. The Gujarat State Government has already approved this and the Modi Government will follow suit. A JV is on the way then bingo. People won't be whinging when those RNS's drop. The potential is huge, the gas is there and India needs this more than ever. Would have been nice to have bought in at a discount but this fund raise will make things happen and we'll all be laughing in the very near future. Guaranteed.
Been look at this over weekend after a friend put me on to it. Looks like I'm getting in a the right at time . Good luck all
The fact they have been able to pull this placing off speaks volumes.
All the ducks lined up, next rns will be huge.
A placing at discount with no drop in sp, what’s there not to like. Answers on a postcard please
2 large buys just printed. Keeping it low to fill orders. Lots of bed wetters here
Very strange price action.
Same thing happened at ecr.
Price drops for weeks then discounted
Placing at 2.2p with warrants with a continued drop.
The dilution here is even bigger though.
This will unfortunately get hammered for the next few days/weeks.
Yes, ZagEgypt - very strange
I decided to take three tranches near day end.
Its my fav share for action.
Curiously there was an hour candlestick I have never seen before:-
'Upside Tasuki Gap Bullish' Reliability medium **
Well, that was a strange day.
MMs will guide this Upwards to 0.476
Options Exercise price.
Placing shares most likely forward sold already.
More than happy for this to drop, you always get the same sellers when capital raise happens but it's completely necessary to fund the project. Days like today and resultant fluctuations are a drop in the ocean - patience is your only enemy with this before it really goes (prior to drilling etc). I will buy more shares happily in the meantime - anything below 0.33 is fantastic IMO.
Thanks Conger.
I'm happy to see where this one goes .
Cheers
You can see how they have done it though as 15% of 16m Cap is 2.4m so it kina makes sense the share price set itself.
My view the share price will go nowhere while they are issuing 1b shares it will equal about 15% of share cap at .238 pence.
It is the deal they had to do, but it is what the farm in partners are willing to pay that counts, in the meantime the existing shareholders just got diluted 15% and the shares were issued at a 25% discount.
Short term pain for hopefully longer term gain.
It does not fund the drilling
"The Company is considering various funding options for the drilling program including potential farm-in partners. To this end, several parties have expressed interest to the Company in farm into Cambay and the Company will consider its options in the ordinary course with due regard to the best interests of its shareholders."
Yup Obone
Just intrested
next few weeks will tell what market decides
GLA
Callum, I think traders bought without reading RNS carefully and got excited.
People followed buying momentum.
Then PI starting thinking 0.238 placement shares will be forward sold.
People started selling and selling momentum grows.
Seems there is a lot of momentum traders.
Scratching my head with that latest RNS?
Not sure where SP will go TBH
we have all of Cambay field so that good as that should be worth at least $5-8 million at market rates as we got it cheap from GSPC
Howver there is a.1 billion share placement at .238 which is £2.4 million we need to pay for field.
Also this does not pay for drill as far as I can see
However share options at .476p so they expect price to go up.
Head scratcher !
Anyone care to comment ?
and enlighten me?