George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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On a more positive note looking forward to news from West Africa..in particular Bassala which pat own 80% of ..plus the other projects.
If the average man in the street fancys a dabble on stocks..ie new Isa just announced.
Then he finds out somebody can manipulate the price with ( as I understand) shares they don't even own is going to say..wtf in he'll is all that about??...I agree 100% with Alan.
Aim is very illiquid. If you see a weak orderbook and you have size. Very easy to tank the market.
Short selling in a liquid market is fine.
Not sure it is big issue here, we need to focus on the asset in hand
If the shorters are so good then why do so many companies go under after fleecing the average share holders for years?
So you can take your take as my take is they are low life people scamming others
Why would you want to petition against short selling? Just because it can drive share prices down?
If there is nothing wrong with a business and there is no shady practice, short selling is unlikely to have any major impact in the long term as fundamentals will ultimately drive SP performance and good businesses won't really be targeted by shorters as it's too risky. I tend to think of shorters being good for the market personally in that they provide extremely in depth research and uncover many of the big frauds or malpractice over the years. If you know the SP performance of a company has been unfairly bombed out due to shorting it's an opportunity rather than a negative surely?
My take is people don't like shorting simply because they don't like to be disagreed with and they like their shares to go up.
Baffles me who the little sellers are here day after day, are the market makers exchanging shares at bid to try to scare the naive into selling? There absolutely seems to be a 'retain control of the price at all costs' mentality, likely to keep it under the radar. News can't be too far away now...
The petition against short selling is now live and working.
I found it on prem 7.28 post..or by simple Google search.
Very likely that the interview comes after the news, as per usual.
Send him an email. No harm he is back on monday
Let's hope MB does his interview soon, along with an RNS or something to give us a clue !..
The annual reports were also interesting.
We know deposit is uninhabbited ( big plus). Close to roads with access for power. Shallow open pit with consistent grade.
About all you can ask for. If you compare that to other projects it sounds ideal.
The most interesting fact
We had 4 law suits against them and they agreed to give us license if we dropped the law suits.
I am curious to know what arguments were made by GOR at that time. Because these should then be invalid. Hopefully they used same arguments later
Once they sell it and new owners start working, i think it is too messy for tribunal to hand asset back so the new owners are not worried at all.
God knows really. Just get the damage amount out!
And @ Magoo, I guess the key question is whether the auction would be happening if PAT hadn't submitted the NOA? It seems very coincidental to auction it only weeks after the threat from PAT become official...
@Gallmat, I totally agree. And from 6.5p the upside is comfortably more than 10x in my opinion. AIM is so unpopular right now that I genuinely don't think anyone is looking for opportunities like PAT, assuming they simply don't exist. If I hadn't been well aware of LIT then I very much doubt I'd have bought in, certainly not with conviction. And the flipside is that LIT didn't even RNS their investment here, so unless you know PAT are listed then you aren't going to buy in either!
Like you, the reasons given by India for not granting the license seemed very basic, i.e. this article
https://timesofindia.indiatimes.com/city/jaipur/rise-in-gold-prices-drawing-firms-interest-in-raj-mines/articleshow/80064983.cms
For LIT to do their DD and provide $13.6m in non recourse funding means we can be almost certain that the 'discrepancies in the name of the company' cited as apparent justification for not granting a permit for a mine valued at ~$1b, are utter nonsense.
The fact that the market cap is lower than the day the LIT funding was confirmed is also utter nonsese!
Having invested in junior minors i know it is a pain i the a""@. Fundraising, technical issues, unforseen capex, volatile commod prices.
The fact you can have a 50/50 on the return of a huge mine without lifting a finger. Not sure why others are not interested.
The execution/ dilution risk of a small company messing up must be around 40pct and the upside is not 10x
Put yourself in the indian government's shoes, what would you like to see? You want a mine to be developed ASAP, bringing jobs and fiscal revenues. Only a medium to large mining company, with adequate financial capacity can deliver that. But who is going to offer a significant amount in an auction if the licence is still disputed and subject to legal uncertainty?
Well, maybe you could offer the tiny mining company that is taking your to court some cash to go away. Maybe something like 30% of the expected proceeds, which would be a multiple of the market cap of said company. Win-win.
Maybe Mark is negotiating and complaining that what is being offered ($100M? $200M) is not enough. I suspect we'll soon find out but I suspect the amount is going to be significantly lower than what we would get as a result of a settlement under the bilateral agreement. I'd be happy with that though
I know we have discussed AI google etc( I think we all agreed its not perfect!) but a recent quote from it..
'An out of court settlement could pave the way for a smoother auction process'.
I have spent more time researching and it is quite interesting.
The key 3 arguments for not giving the PL seem to be easy to prove. It also seems in the past the gov even promised to give a license in return for us dropping our law suits.
The biggest event might be another lcm case greenx concluding positively.. hot money might flow here as people follow the same strategy
End of qtr 1 in a couple of weeks...
Interview hopefully due this month...
Auction up and coming.....
RNS must be due soon..
MB has been out the office for a couple of weeks with crap phone signal....
Some great posts over the last few weeks.
Something has gotta give soon...
Many thanks. I will have a look
@gallmat, it's just a bureaucratic nightmare, where nepotism appears to be the preferred currency
Not sure if you've read this 2007 times of india article before but it gives a good idea of the optimism there was back the re. Bhukia / Indo Gold;
https://timesofindia.indiatimes.com/india/indo-golds-finding-to-lure-foreign-firms/articleshow/1653943.cms
It discloses some important information re. a point you were asking about a couple of days ago;
"The site of the discovery is in an uninhabited area, requiring no relocation"
Thanks, interesting company
Vedanta to start mining gold I think any day now.
To exploit this properly you would conclude they need foreign investor, however their actions probably stop that from happening