George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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prophets
can’t read it as I don’t subscribe..........ditto..
seems like yet another Joe Know it all...with a very(to say the least) average track record...see for yourself...
fyi...https://www.*************.com/index.php?q=gary+newman&s=search
I see the late shift were on last night - badgers with nothing better to do on a Friday night, sad really!
Also see a share profits article on bloe is our, can’t read it as I don’t subscribe. Anyone able to reveal the just of it?
Give it rest guys, is agony aunt week.
no - I do not think there will be any further placing here - not yet anyhow. I made that point, as seeing the ceo's out on the road, always has a reason. If the stock was doing fine, business as usual, nothing much to say, things ticking over, you probably wouldn't hear from them.
Personally, I think that the market may see the ops update/flow rates on monday morning, with a spud date for 38 in it.
If Paul has been out on the asset hunt, then he may hint at it in the update. By rights he should let the market know, if he is in discussion over an asset, even if he doesn't name it, to avoid competitors finding out.
I did think about buying today, just to have a position for monday, however, I did not in the end. We shall see, as you say.
Thanks Sea7, I never thought someone would agree with me on this one.
Although Im not suggesting a placing is coming. I too, for one moment, thought about it after the last video. Its just one of those reflex response
Guess we just have to wait and see, but my gut feeling tells me we will get an unexpected rns before we get the operation rns / flow rate results
Thanks Mike,
I quite often find that CEO's get out on the roadshow, do the rounds of the usual sites - proactive, directors talk, etc just before the begging bowl comes out for an equity raise.
I do still watch them as it is good to hear the person actually talk it, as you can sometimes glean sentiment towards aspects of the company, by how animated they are over certain parts or not as the case may be.
Same as Rns's - you can tell what they like the most, by the way they are written. They know most investors won't want to read a long rns, so any ops update will have the bits they want you to read at the beginning. Ever noticed how the main event in the CEO's eyes is always at the start, front and centre and lengthy then all the stuff they aren't to bothered about, or don't want you focusing on is further down and usually very brief footnotes.
eg - bloe rns 8th july proudly announces the drilling/workover equipment for workover programme - all those highlights telling you how great it is.
Just go further down and you see this....
GOG has an option to call back the ZJ40 rig from six months after the Commencement Date, by giving at least three months' notice to the Company, in order to drill one well in one of its own licence areas. The drilling of this well is currently scheduled for September 2020 and estimated to take approximately 60 days.
....
block says it has exclusive use of this rig, well not quite, there is a call back option on it, which could be brought forward if they so wish it and block have to hand the rig back having been given three months notice for a 60 day job.
Sea7 I agree fully. In the past, I used to watch video interviews and use them as my guidance.
Its actually a pretty bad idea, most of the time you buy or add after a convincing video, then the sp drops or some bad sh 8t follow
videos are just sales pitches in my view. Bit like investor evenings. CEO's are salesmen by nature. No self respecting ceo is not going to talk up his own book. They are designed to wet the appetite of existing holders and reach out to new ones, nothing more.
Common sense: the more video presentation that Paul Hayward guy is releasing, the more I like to think opposite.
If all was well and news ready, why not just slap the details down on an rns. Its because what he tells its not the truth, and he is using a stalling tactic until either problem fixed / or more time needed to get the results
Obviously, he cannot say that in the video because it wont be too convincing if he cannot give any sort of time frame
The trust in PH by the market has taken a knock as well. He did not bother telling the market that production at 16az had stopped. It was only noticed by its absence in the presentation etc. Then he mentions that production will restart in approximately seven days, that was 18 days ago.
Yes I fully understand they needed to re-think their strategy in light of the success at 16az, however, the open honesty that Paul had with the market, has given way to structured and carefully considered wording of communications, which do contain all the facts, even if the only ones highlighted are the ones they want you to see.
another example is the recent rns regarding 100% at west rustavi. The rns states 100% of the contractor share of revenue. This is not all the revenue from the 700bopd, when it restarts. The contractor share is 50% of the revenue, after capital costs recovered from the first 50% of the revenue. Once all capex is recoverd, the contractor share is 40% of the profit oil only. The government gets the other 60%.
The market thought the company was pumping 760bopd from all three fields and generating good profits. It was in fact only producing the 60bopd from two fields, after WR was shut off and the company went back to its loss making status. This fact was not made public. It still, as far as we know isn't producing from WR16AZ. They are breakeven at 100bopd - so they are using some of that cash raised to keep the lights on at the moment, as they are only producing 60bopd.
They need 16az back online and spud on 38.
Fastcash, I'm an evil barsteward and take enjoyment in seeing the doom merchants on this board squealing like stuck pigs when the price goes down.
It's not that I enjoy seeing my investment decline but their pain softens the blow.
Strongly agree with you, AJW
I do not think anyone doubts the ability of the company and its norio/satskheni/west rustavi strategies.
The share price in my view, would have been easily holding the 10p -11p level, with no fund raise and 700bopd from 16az.
With the fund raise, as I had hoped they would do, to capitalise the balance sheet further in preparation for the next stages,
the share price held well, as a post equity raise opening price of 12.2p was in line with the amount raised.
The one aspect that the market isn't keen on and is marking it down for, is this statement in the fund raise rns....
The funds raised also give us the freedom to explore fresh opportunities: we are a young, ambitious company keen to apply the low cost, innovative drilling technologies we have deployed in Georgia to new ventures in the region and beyond.
....
This creates an impression of an overly eager desire to empire build and get to far ahead of themselves. Had Paul not indicated that a chunk of this cash is likely to be spent on acquiring something, which will obviously need money spent on it and creates an uncertainty over what any expenditure may look like, the share price would probably have moved back towards 15p on the expectation of an imminent drill at wr38, with cash allocated to norio, satskheni, on seismic and then keeping a reserve of cash to ensure that they can cover the bills in the event of any issues.
PH really should focus on the three assets they have and reach a point where they are playing from a real position of strength, not risking overplaying their hand, so early on.
17.31 ~~~ Why post your `Moans and groans` on here ?
Nobody is interested in your personal problems . Nobody here is going to help you .
Perhaps you were just not aware of that .
Maybe they ballsed up while down sizing that choke hole, so unable to progress onto the flow test
Friday jokes... Have a few pints and relax guys, what will happen, happen
fwiw...
I am very confident that no news is good news.....stands to reason that if there had been any material change to anything that had previously been put into the public domain....then the market would similarly have had to have been notified.
hve a gd w/e.
15.44 ~~~ Sadly you`re right Gizzard , this used to be such a good Thread .
I suspect that the continued decline is a consequence mainly of continued selling be Miton .
Once they are finished , and they have to repay their investors in August , I think we should have a flood of news , and a dramatic sp recovery . i hope so , I bought some more today , and intend to buy more should the price weaken further !
GL .
Couldn't agree more Gizzard. The doom merchants are just miserable gits that moan all day at work if they've had a bad journey in or the weather is not to their liking. They aren't professional derampers as some like to think because they are clearly very pained by the slightest dip in price.
People get frustrated very easily these days and want returns within days. The reason why they went to the market for money is because there strategy changed once they knew how good 16az was and wanted to do essentially a land grab.
No hidden agendas here just negative spin, unless it's gifted wrapped then forget it.
Going forward I'd advise PH not to do any more interviews because they just pander to the doom-mongers. He can't win IMO.
I agree Fast Money. PH stated this was fully funded long before the result at 16az so w38 should have been ready to go by now, we have the rig so waiting for the pipes at this stage of proceedings feels a bit slack. I can understand not signing up to a storage deal until 16az proved what was expected internally, fair enough, but if as they say they expected 16az to do the numbers all along then the follow up plan should have been there in an outline form all along. I don't like seeing the share price drift, my average is is not down at the low 5s etc, i bloody wish it were. I think it will come good but i don't want to see another interview because it makes no difference to anything. Only an RNS and preferably in the time frame indicated, you cant trust IIs to hold out till the end they could sell in to rises for some time holding back value to PIs. The goalposts have moved on a time frame basis and not everyone here can wait till the big party at the end, something that many here don't appreciate or smugly don't care about. Despite all the congratulations and optimism, you cant take those to the bank. Fingers crossed for Monday. GLA
Peels may well be on at 10.8 but he's offering at 11.8 - on the other hand STFL is at 11.5 and offering at 13
so at the moment until he's on 10.8 then that price is irrelevant until it's reached.
You'll never beat the MMs unless there's positive news. Anyone without L2 are trading blind and at the mercy of them.
How about allow some frustration on the board and stop the forever ramping and put some pressure back onto BLOE and PH.....
what exactly is it that you are so frustrated about?
Gone the dogs this bb - banal dross.
Why would they be waiting for a new drill pipe?
original strategy W38 would have been drilled and tested by now, and yet they state they are waiting?
if Block had kept to the old plans...would they still be waiting?