George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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I think that if you are aware of the history here you would probably be more appreciative of what MA has done but let's not kid ourselves - if this works out he will be amply rewarded for taking the risk of working with projects in difficult regions.
I would slightly disagree with your assessment of timescale. This is not an annual thing as I recall - these loan notes were taken out before 2019 I believe. But, yes, he has been amply compensated. Of course, if it doesn't come off then he will be up the proverbial creek, although quite often these principles seem to manage to avoid the worst of it somehow.
So, no, I don't believe that this is a scam but I would become less impressed if we don't see a financing package in place in time to see progress on Tulkubash in the spring.
By the way, what do you consider 'true value'?
The original Lender is not Labro but someone else. Labro just guaranteed the loan of which $13.5m is now being repaid to the Lender with Labro taking on the Loan. The Lender's remainder of $7m will be repaid by year end with a further debt being arranged.
Martin has not been 'averaging down' as we think his average is definitely under 20p so he has been averaging up the last few years. Political trouble in Armenia (v Azerbaijan) but miles from Kapan, and now trouble in the Krygyz but completely not affecting anything to do with Tulkubash on the ground is concerning - get through these troubles, get the extensions at Kapan accessed and get the major project financing done and the company will go from strength to strength imo
Admittedly, it is rather like spinning plates but nothing untoward. Martin A is and has been supporting the sp and long may it continue, why wouldn't he? Having a Chairman with a 40% stake to me is a guarantee this will not be allowed to fail.
Perhaps someone from this group can help me decipher the "debt Restructuring" announced by the company. having looked at that what I see is the following;
1. The company was unable to repay its debt which was already extended once.
2. The major shareholder who initially guaranteed the loan, therefore, had no choice but to repay the loan and in return has been granted in total 27.5 million shares for free. Those are worth 11.35 million dollars.
3. In order to replace a 13.5 million loan the major shareholder is getting 11.35 million in cash plus interest of 1.3 million per year plus fees. So in one year, he is been getting the full loan back but the company still owes him 13.5 million at a ridiculously high-interest rate.
4. This "drill" seems to be repeated every year with the major shareholder getting more and more free shares.
5. At the same time he spends some money in "keeping the share price high".
6. its very nice that the company has a large supportive shareholder but he sems to be lowering his average share price all the time preparing fr the day the shares will fall to their true value.
7. what wil lall the suckers who bought the shares basen on its "supported level" do when that happens?
does it smell like rot to me only?
The fighting is just over 90 miles from Kapan, that's not far considering there are some field armaments that can fire that distance.
261k oz silver produced in H1. silver prices soaring.
"With US$4.2m Kapan EBITDA contribution in July and a similar expected profitability for the remainder of the year"
$4 million ebitda per month. 60p target.
Chaarat Gold - Armenia update
Chaarat Gold (AIM: CGH), the AIM-quoted gold mining Company with an operating mine in Armenia, and assets at various stages of development in the Kyrgyz Republic, provides an update on the current situation in Armenia.
Military action started several days ago between Azerbaijan and Armenia in the Nagorno-Karabakh region which is about 150 kilometres away from Kapan. After the events of Sunday, 27 September, the government of the Republic of Armenia declared martial law in the country.
The impact on the Company's operations has to date been minimal. Management and the team on the ground continuously monitor the situation, have business continuity plans in place to react quickly to any new developments and monitor supply chains on a daily basis. The Company will provide an update on the situation as and when appropriate.
Not holding but worth noting both AAZ (Azerbaijan) and CGH (Armenia) are exposed to this conflict escalate. If Turkey continues with it's sabre-rattling it may well draw in larger military forces to the conflict, namely France who have condemned Turkish military support of jihadists in Libya and more recently Mali.
https://www.bbc.co.uk/news/world-europe-54356334
I do not think this has been posted yet.
https://www.youtube.com/watch?time_continue=3&v=RIwQgLkwG5A&feature=emb_logo
Chaarat Gold Holdings Limited (LON:CGH) CEO Artem Volynets talks to Proactive London about the latest set of interim results for the six months ended 30 June 2020.
GLA.
I think this company is still under the radar (10MOz Gold and more expected) 3 projects at different stages and positive EBITA at Kapan.
A lot to like at this Mcap. All our Kapan metals have been doing well in the months after this report is based on.
I think our CEO Artem has been doing an excellent job with PR for this hugely under rated company.
GLA DYOR
Sharegar.
...for this share now as TW has tipped it on his "HitsOwnWickets" site.
Another dip below 36p with gold at $1900+
One to watch next week
Gold price as gone over $2000/oz. Just need Covid to pass so we can get some out the ground.
Fear of missing the boat is starting to take over with most gold miners now - same here soon.
as title. Makes you laugh, Who the hell is gonna buy on that spread? MM taking the pi55 again.
I agree Sparkyboy. The gold price is off the charts. I suppose Covid is hampering matters and news feed? It's strange though, we drift up to 40p, then back to 33p and then back up again? Common Chaarat, let's have some positive news and get this over 50p!
This share really needs some news to catch up with the rest of the producers $2000 soon we got to move up
I know Dog what you mean its so bad i forgot i had some LOL but with gold at such a high any news soon should see us shoot up, it just seems to go on for ever
Pablo2 how r u
did you ever get involved with any covid-19 shares i had a good result on SNG .
CGH must go up soon
Scoutt wrote "Seems someone likes huge risks, I’m starting to like them too".
Bet they're not quite so keen now!! PoG flying yet here we sit.
Are we a gold miner or not?
CGH. Best kept secret in the gold mining industry!!!!!
DT
you got to laugh they sell £500 and down we go, i am going to buy £500 later with the gold price over $1800 it should go through the roof lol
Not much volume though so Labro have barely started. And yet we are just nudging into multi year highs.
It's the same old story, Labro starts buying share price rises, Labro stops buying share price drifts back down.
Seems someone likes huge risks, I’m starting to like them too.
And here we are a month later and the SP is the same. Gold at record highs yet here we sit.
The share is doing well this month so far,