George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
No mention of Manica on the MMP website.... it does mention diamond alluvial operation though. Oh lordy….
We were led to believe Moz was a professional outfit too.... hmmmm.
Hi James
I don't know anything about them either apart from this web link
http://www.mutapamining.com
They seem to have been around since 2008 so I assume they are established and professional. I would have hoped they have costed out the project and already have funds for it. I didn't consider MMP funding to be an issue or risk tbh.
Hi Andrew
I know nothing about MMP as a company, I agree they will make a bucket load of cash here if they actually have the financing to be able to become operational. At this stage this is the biggest risk I can see, and as far as I can see is why Xtr is valued so disproportionately to the potential.
Cheers
James
Sad to say I'd settle for 5p now. I had high hopes the Manica project would turn out to be a nice little project but now I'm just tired of this share and CBs ways.
Clearly he's had succsess in the past and he does have good contacts, sadly It seems he just doesn;t have the energy/lust to follow through...What is just a retirement hobby to him is a serious investment to many of us.
Gixxer
Sino leaving would not be fatal but may see us needing a placing much sooner. I would be amazed if MMP left. I think they are going to make a lot of money from FB esp with higher POG.
Hello H50
Sorry if you find my post annoying. My advise would be to filter me then.
Thanks
Even if it's exceptionally bad news and sino have gone, there is still hope here (Imho) . A price of $17.5M was agreed for manica in 2016 (CB stopped the sale but price was agreed so fair value), since then DFS profit has nearly doubled to $800 an ounce against DFS so not unreasonable to double manica value $35M, lets say $30M to be conservative.
If CB has had enough and wants to jack it all in, he should get £23.5M for all of manica = circa 5p .What may have saved CB, and moreover Xtract shareholders, is the fortuitous higher POG .
Of course that's assuming he doesn't keep trying to make it work and keep diluting to raise money again and again and we end-up being diluted to %@!X
Andrew4444
I have to say I find your posts somewhat annoying to say the least, you have a lot to say on this BB, more than most, but you are inconsistent, I conclude you post according to your (short term) position.
On the one hand you suggest the alluvial performance/income is not relevant but on the other you ram it down every readers throats implying how bad it could be.
Everyone knows alluvial production is a sideshow, let it be for goodness sake, what we are all waiting for is for Bird to start delivering something meaningful in respect of the Hard Rock gold project. In my view Bird is going through one of his silence periods in general, he has been silent on GLR and BZT also.
When I met Bird in November he looked totally shattered and was basically perched in the cloakroom area of the Proactive event with coats flapping around his ears, it was the first time I have seen him in such a state, I was actually worried about his health, he could not wait to leave, in fact he departed without even telling his wife and secretary who anxiously pursued him.
In H2 last year there was a podcast where he said he was looking to bring in new management, he seemed rather determined, can it be assumed there is a disposal on the way and this is why the new management has not be put in place I wonder. This aspect is probably more exciting to ponder than continual debate about the alluvial income being good or bad in my view.
Agreed, we've not been getting anything like we thought (we were told)we would from the Alluvials anyway so it wouldn't be the end of the world if Sino left. I imagine they weren't too chuffed when Bird stopped them just going for just the high grade regions and that's certainly affected results. Bad grades and Sino leaving, is it really worth holding that info from us?
MMP leaving, that would be a disaster....
I’m more worried that Exceptionally bad equals MMP leaving!!
'the next RNS is going to be either exceptionally good or exceptionally bad ie.' Fully agree A4444 - I really do hope its your former statement however, experience reminds me otherwise....
Gixxer
That's the alternative view, the exceptionally good one, which may be correct.
I can't believe this long delay could be down to the alluvial results being so bad. CB may be a lot of things, but he's not stupid, so he must know that this long delay is worse for the sp and sentiment than releasing poor alluvial results on time.
Which brings me to the conclusion, as I said a few days ago, the next RNS is going to be either exceptionally good or exceptionally bad ie.
1 Sale of all / part of manica / FB.
or
2. Sino have gone.
If there has been an offer put in for FB, whixh I don;t think there has been, then the comapny would not be able to release news . In terms of Manica at least.
I put it down to Bird keeping it transparent and open as he promised.....One thing you can say about Bird, he's consistant!
o/
It's looking possible that alluvial income is very bad. I can't understand why they long delay if it wasnt very bad news. It's OK trying to wait and pair bad news with good (if that's what CB is waiting for) but the long delay in comms will do as much harm to the sp and sentiment than the actual bad results.
That's unless the news is exceptionally bad such as Sino MK2 have done what Omnia and Moz Gold did, and left. Sino are a Chinese firm, could there be an issue with Coronavirus.
All speculation, and hopefully wrong, but that's what happens if you don't get news.