George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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One other notable point to consider regarding the ‘supposed’ delays in assay results is that, with the company plans to, accelerate the next phase of exploration drilling, with the contracting of the two drill rigs and recruiting geologists and the organising of increased core sampling and storage capability etc.
Any delays in the anticipated start time of phase 2 would be quite costly. Allowances would have been factored for normal operational delays. But, the market would no doubt need to be informed of severe delays in getting results back as this would surely be share price sensitive info in that respect.
The idea to release results in batches was smart and has given plenty off wiggle room, but ultimately the company will need to report ‘supposed’ delays.
At present nothing has changed for the worse, has only improved confidence in potential with the early placing out the way and the subsequent planning of the next phase before this one has concluded. Not to forget colins purchase of further shares on open market.
Patience will be rewarded
I also feel now it is mainly strategic reasons as to why any completed assay results have not been released to the market yet. As stated in the completion of drilling programme RNS regarding batched assays from hole 2 onward. As opposed to severe or otherwise delayed results due to back log at lab.
There has been some speculation and information regarding delays in NSW but the simple fact that Colin has not mentioned any ‘major’ delays involved in interview opportunities, just makes me think that the lack of results up to this point is planned to see out the latest placement. There is without a doubt a lot of work going in in the background planning ahead. And so now with ample funding to get Racecourse deposit proved up I would hope some ‘interim’ results (whatever are available) will be released from the lab and fed to the market. This should give the share price a new support level and be great for sentiment. We may then see a sustained steady rise into the latter stage of this 1st phase in anticipation of the final batch of results that I believe we may not actually see until incorporated into the 3D model for immediate release as hole 6 will be the final piece of data to be collated as the IP survey will have long been completed by then.
Don’t know how my nerves will take it if the plan is to ‘just’ release one big news bomb at end of month or so, of the new and shiny 3D presentation!
My thoughts only of course
Is it likely the imaging of the IP survey will be released as a standalone RNS, or when the 3D model presentation is updated?
One would assume they would wait for the full presentation to be completed, so the market can fully understand it. So, would guess will then only be released after remaining assays are fed into the model too.
So, fingers crossed we see some ‘batched’ assays next week.
Exciting few weeks ahead for sure. Starting Monday hopefully.
And Mcap is only 42M, still a long way from Colin's aspiration to Midcap, 5x from here looks more and more achievable, I feel dilution is pretty well done with latest placing, we now look well funded into African cash flows and for the next leg up.
GLA
Don’t mind dilution when the funds are used to build the company.....after all....money makes money
That dilution sure is a problem. The share price is only up over 100% from any point in 2020-2019-2018 and up nearly 200% from most of that.
Hi Munch what makes you think that? Bird has diluted and diluted over time
I’m getting ready for Monday’s rns.
Fridays late rise caught a few out trying to get in cheaper.
I believe we will explode in to life on Monday morning with an intra day high of 9p and a close of 7.5p.
Let’s go.