George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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So what's the answer close the whole site and ban mining for ever
Buying of Lydian or its Amulsar mine has the potential to drive Chaarat's minority shareholders (who by default have no any decisive vote in decision making) and lenders of such a deal into a chain of criminal investigations and SP huge fluctuations. The facts regarding such a "takeover" speak for themselves:
1. Chaarat (CHG), according to some reports, intends to buy Lydian (LYDIF) and/or its assets at a significant discount, because as a result of inactions of Government of Armenia, Lydian has not been able to proceed with construction completion and commencement of operations due to illegal blockades of its mine, which followed the change of the Government referred there as "velvet revolution".
2. Same reports state that Chaarat will get exclusive guarantees to operate, so far not available for Lydian.
3. The MC of Lydian was around 350m USD in January 2018, before the illegal blockades started (gold at 1300$/ounce), currently it's near 7m USD at gold price of 1750$/ounce.
4. Lydian, according to its statements published by Monitor Alvarez&Marsal, has suffered more than 130m USD losses due to illegal blockades - an amount roughly equal to what is needed to finish the construction of the mine and to enter full operational cycle.
5. The illegal blockades of the Lydian's mine by environmental activists and various protesters continue already two years and the Armenian government is clearly acting against Lydian - by not enforcing the rule of law and by not following the court orders to unblock the mine.
6. Public reports indicate that no other mine in Armenia (including those that contaminate the environment according to official reports) has been stopped from operating during the last two years and various protests happening there have been calmed by decisive police force.
7. Various high ranking state officials have publicly stated that there is no evidence whatsoever that forbids Lydian from operating, and all of its licenses necessary to construct and operate the mine are valid. Prime minister, Vice PM have insisted publicly numerous times that the illegal blockades are being paid by rival companies and are aimed at damaging financial standing of Lydian.
8. The GOA has initiated numerous investigations against Lydian and those are simply extending the current status quo, while serving as another pretext not to allow Lydian to attract money to maintain its ongoing operations alive, driving it into the verge of bankruptcy or alternatively a sale arrangement.
9. Chaarat's Gordon Wylie who serves as Sr. Independent Director and Deputy Chairman since November 2007 - a person who has served also as Lydian's Chairman since its inception and until November 2018 has been discussing the Amulsar issue with the GOA during the blockades, while serving in his both positions at the same time.
10. Gordon Wyile has extensive ties with the President of Armenia - Armen Sarkissian, who has also been in Lydian's board in the past.
11. Blockades wi
AGM tomorrow and the chart looks better we just need to pass 31.
More and more people are starting to see the value of this company. if you analyses the Buy and Sell, it's obvious.
Thank you Pablo2 for the update, I hope they won't raise more capital anytime soon, they just did it.
I m following the board on Advfn, but I'm not posting because the website is not user friendly IMO
Sorry there isn’t much posting on here, it’s mostly on Advfn for Chaarat.
Think every chance this will soon be back to 37p - 38p or so.
The Chairman can buy another 3m on his granted waiver(as he has too high a percentage of the company already).
There is talk we may be soon to take over another Armenian mine, Amulsar. Don’t that or anything else will lead to more dilution as company committed to debt funding.
Strong future here in the next two years
There is no saler at the moment but volume still too low to confirm
I'm in, this stock didn't bounce back like POLY, HGM, CEY, PUR, SOLG ......
I think we can do +40% from here especially if the Gold get higher.
Please comment if you have a view about why this stock didn't bounce back
It's a possibility.... unfortunately.... hope not
Who knows? Maybe a repeat ... Executive Order 6102 hmmmm. BW
How do you evaluate a Gold mine, does 100£ per once in the ground a good way?
and silver and copper. whats the risk here when gold is at this price.
40p easy again.
Gold will shoot when the idiot Mr market realises that he is in a deep **** recession and that everytime we see markets rise due to bs pandemic under control is just more BS.
I dipped my toes in yesterday on impulse and memories of CGH times but after reading Shaktar's posts, I have sold just to be safe. Now is not the time for risk. It is about capital preservation. I would put my money in producers, not explorers or developers. It is disappointing that after 10 years, Tulkubash is still 2 years away from production at best. That will probably get kicked again with this current situation.
SXX is a cautionary tale for aim punters. I was in there in the early days, got in low teens and sold in the 30s after Bill Frank, a poster that graced these boards many many years ago illustrated the value by working out the capex and the dilution that would take it to production giving it a fair value of 9p. I checked and double checked his figures and it seemed logical so I bailed rather than held.
I am grateful for MA's present to bail me out of CGH and I will now stay on the sidelines for another 2 years before I will return to see how Tulk pans out. I pay attention more to bashers on aim rather than rampers. Especially bashers that have sound calculation.
GL guys. Sorry for not hanging around.
gutted I missed the rise to high 30s but I didn't have a patience to wait and was uncertain about the funding. The fact that MA is still buying is a good sign if he has faith. However, even he hasn't a crystal ball on what the world will be like in a year's time considering the fast changing landscape so I have only dipped my toes because this seem to lag gold price at the moment. I am gonna give this a few months and I will be checking in here regularly to hear your views....
Welcome back - the whole world has changed but we’re just mulling along, making good progress, very apprpriate mgmt team well experienced to the general area we’re in. Results in April, funding needed but very unlikely any placing.
Looking good and reckon you’re lucky with your new entry price
got back into this after a long absence. Bought back at the same price I sold. What has changed? Does it look better now?
Wow look at the gold price come on Cgh this time next year imagine 2000 dollar for gold and Cgh nearing production I guess £ a share looks good
Someone's confident.
All blue looking good let's hope we can kick on.
Wow gold price up share price down great
gold price shooting up a bit of good news and will see 50p no problem very soon
I'm sure a £1 is on the horizon. I did sell 100,000 shares at 31 pence when it started sliding back and bloody typical it bounced back! Where's a crystal ball when you need one? Have a good weekend all.
Any how I have a lot riding on this and like you £1 is on my mind I know I sound like Del boy but I don't need to find a watch lol
I have done the same as you sold and put into ISA I also have a lot in my SIPP I have 100,000 to sell sometime soon as I need the money but I am not selling the SIPP or pension shares because knowing my luck if I did some great news will come out and I miss it.
You say you buy and sell in 15000 only don't that cost you more with fees