George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Yes but half has been sold/in the process of being sold to SPR for $22.5m and so that now comes out at $45m (non distressed prices). You can see how, when it comes to vultures sifting through the remains, we aren't likely to see a sum of well over $100m in total.
Harchris didn't we pay £$65m for barely functional Vanchem plant which is now firing better than ever. Fingers crossed the reserves and the real estate is worth £200m
Yeah,aims not for investors.
The first $100m would go to creditors, i.e mainly Orion.
At market rates the assets would still well exceed that but at distressed administrator prices I'm not so sure.
Same Halespur. AIM shares are pocket money for me now, building up small positions slowly. Main pension is in a cheap passively managed index tracker fund.
Nice to see the full Ask being paid….if it’s not too much to ask can we see a higher Ask? Above a penny would be nice…. Lol
PS Still own some in my SIPP so still involved and need a reversal. I'm in the same boat as many and lost a few years savings in here from 2018 onwards adding.
For me it has been a lesson in investing and diversifying. Single shares probably should be play money and rest in funds now for 15-20 years
Thankfully sold some at 93% loss instead of 96% lol. Surely what they own is worth multiples more than £15m Market cap if administrators get involved.
Lamps
dunno m8,the bottom line,is the comps at the mercy of the vanadium price.
and can the comp,gain funds to keep it going,until the v price improves.
you cant blame the bod,or certain poster for commodity pricings.
anyway,,gla....ime sure the bod,will be trying everything,to improve the situation
What now ?
There is "ore " in the ground but extracting it commercially is key here.Some oil and gold mining companies were in the same position but dont think you can compare vanadium with them two commodities.Company has debt to pay and there is no cash flow at the mintue plus it is not making any money at current vanadium price.This cant go on forever.
Thanks Troajan, about to say the same. Market doesn’t seem to have the same pessimism as some of the doom and gloom merchants who have lately reappeared on this Board. I just reduced my average considerably. Vanadium ore still in the ground and record production figures. Will be back to yesterday’s levels in no time.
Actually.....buys are ticking this up atm
over the ask,is being paid
And no buys in sight. Sorry to say (and sad) this seems little more than a dead duck.
The bigger issue is, even if cash was found now, which for what it's worth, I think it will be, they are kicking the can down the road. Costs are higher than the price they are selling for and there is no sign of a recovery in V pricing. It needs a sudden and rapid increase in V pricing, and I don't see that happening. Stakeholders/funders at some point are going to want a bigger slice of the pie, ie a controlling equity stake rather than a loan note, and at that point it's game over for the shareholders here.
You mean sub 0.5p coming!
Suspending these operations would choke cashflow and that would lead to a possible default.That is what SPR wants probably.
Wow, this dropped off. Just as ya think it can't get any lower... Bushveld proves wrong.
They are looking with stake holders to resolve the cash position. Ooh raise at what price now?
when?
Boom!
Did your AI tool malfunction?
BOGOF buying opportunity for feral tiggers?
Not so good for the Eeyores of this world!
Just bought some shares here this morning. Sure it looks grim but there is plenty of cash due in from a delinquent investor and capital sale proceeds. Maybe the announcement is just what is needed to crystallise action. Looking forward to this afternoon’s call - should I be able to make it. Gla
Absolute ****
Many were optimistic but crook management had a part to play in it.Got to say looks like Fortune is involved here somehow, it is funny to this new entityhas not coughed up cash at this critical time.