George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Here is a optimists view of it ... ! ... why now? Is this a reward to the team as the end game is in sight and the company wants to reward the team with options priced at this level BEFORE the SP takes off?
I don't think that is an unreasonable interpretation. Although if there is any standardization to incentives, it could also just be based on a certain amount above current share price. I'll check the price when the 10ps were awarded.
I'm not too sure how others interpret this but that does seem to imply CBs expectations are lower??
Exercise price now at 5p for this issue not 10p as before?
Am I reading that right?
What are others thoughts?
tbh if we don't get any news by end of the year, so about next 7 weeks, then I think it could go just below 3p
If we all believe the potential here then that should not be an issue. I would be very relaxed about that unless it had gone below 3p on negative news.
Going below 3p on no news because the impatient have left, it not an issue IMHO
Ill wait for 2
Andrew
I sincerely hope you mean 'if' and not 'when' :(
I've had many final, final top ups.
I suspect you, like me and many others, will be having a last ever final, final, final top-up if and when the ASK goes below 3p :)
And many, many more hopefully. I've celebrated it with a final, final top up at 3.10 as have reached my targeted holding. Showing as a sell so guessing the other early trades at 3.10 are probably buys.
Happy Birthday Colin,
Hope your day is filled with news .... of the good kind.
Impressive Andrew, what a fantastic opportunity to average down at under a penny. Do not envy that journey south though! Drives home the frustrations that the LTH’s often show.
Us newbs obviously haven’t helped at times, so respect where due
"Anyone beat north of 7.20?"
How about £1 (equivalent) SP just over 10 years ago.
I've managed to average down a coupe of times since then........
Lowest buy 0.7p (500k x 2)
Trio of big buys at 3.08 average.
What a great price! took a chunk of mine at 4p well over a year ago, with. Prior to those my highest trenche was at 7.20 which I was rather pleased with at the time as I felt the share price was going to run away into the distance. Hopefully will double my money on that one yay ;-)
Anyone beat north of 7.20?
Really well put Cygnus, agree too >> "and this led to disenchantment in the asset for those not fully up to speed."
There was a dependency to fully understand the association between RC and Ascot, it was the professionalism of the management team that plotted and put together the data necessary to have that geological understanding that is no doubt really important.
It’s not just about chasing grades
A reasonable impression, in my uninvited opinion.
Yes Cygnus. You have identified the nub of the problem:
"and this led to disenchantment in the asset for those not fully up to speed."
howezap, I think what may have killed the early enthusiasm is that a lot of holes and time were spent drilling between RC and Ascot. I think, from memory this was to do with trying to find a common source of both porphyries and to seal off the southern reaches of RC. Other than one very good gold seam, the source was not found but a lot of weak mineralisation assets were returned. I think this gave the impression that grades overall were not economic and this led to disenchantment in the asset for those not fully up to speed.
He is a non-exec. Paid (ultimately) to add credibility, maybe (a valuable endorsement), but my point is he will not be handing out his patronage without concern about what he is endorsing. Still involved = a very positive appointment and valuable member of the team. IMO.
I don't believe Kjeld Thygesen exclusively applies his skill sets to XTR. He serves on other boards I believe? Is he a passive appointment to aid credibility or is he an active appointment?
I agree Cygnus, it’s the underestimation in the first place of potential asset credibility toward a value that is in question.
Do wonder where all the earlier optimism has gone, perhaps a perception of underachieving.
I don’t see that at all, Bushranger exploration has exceeded initial expectations.
The willingness to become involved, and stay involved, of Kjeld Thygesen as a non-executive director of XTR is heartening.
Not a man (I'm guessing) who would want to be part of any kind of pump to refinance, promise and not deliver, basketcase AIM explorer.
"About Kjeld Thygesen
Mr Thygesen joins the Board with a wealth of natural resource industry experience having worked as an executive director of N M Rothschild International Asset Management and subsequently, as the investment manager to several natural resource funds. Between 2002 and 2010 he served as a director of Ivanhoe Mines Ltd, which discovered and developed the Oyu Tolgoi mine in the South Gobi Desert of Mongolia, which was acquired by Rio Tinto. Mr Thygesen’s particular focus is in financing, valuation and corporate development."
howezap, whatever the remuneration procedure applied will not change the underlying value of the asset, but, there is clearly a good incentive for Kjeld to get the maximum return possible.
Then he has gone up in my estimation. I lived in DXB once upon a time. Happily repatriated decades ago.
>> he lives in Dubai
I think Colin lives in Portugal. He has Dubai residency for tax purposes, but you only have to visit every six months to retain that status.
Was going to look into and post something along these lines, but on recollection, Bauhouse previous post from 18 Jul 2022 08:03 serves the point. It is an objective view, so worth a repost in light of some of the very modest estimates we are seeing
>>>Given that Kjeld and team are on zero pay from 20Aug21 and they are not allowed to buy Xtr shares or be awarded share options- their pay is 1% of the sale value of BR.??Do you honestly think Kjeld and team will get out of bed for £1.8m which is 1% of 180m<<
I read elsewhere that it is Colin Bird's birthday tomorrow. Fingers crossed he gets everything he is wishing for (with love from Manica, Bushranger, et al) and tells us all about it.
It has occurred to me that the reason we seem to get RNSs issued on a Thursday is that he lives in Dubai and Friday is definitely a non-working day, better suited to brunch at the beach club than fielding PR calls etc.
"PR ?!!? You must be joking" I hear you cry.