George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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🤡 someone should warn KOD they missed the party
See this happening.... Cannot raise the funds to be viable, too many delays, and prices falling.
Too late to the party.
I'd say it's worth much closer to 0 than 0.6.
With the debt. The lack of any actual production and the lies. It's probably overvalued now.
Pure number out of the hat I guess.
Same as most comments on this board.
The august 15th RNS from last year is a good read. Prem already owe 35 million, and the you start to add all the subsequent missed delivery payments, 1.5 mil, 1.5 mil, 1.5 mil, 1.5 mil, 3 mil, 3 mil. so that 44 million owed to Canmax running at 12% interest. from June the the missed delivery payments increase to 4 mil. And if Canamx context the 200 million valuation due to the drop in lithium prices, PREM might have to hand over Zulu to Canmax in lieu of all the monies owed.
Mrbrian, what figures are you basing this on, revenue, debt, offtake, lithium price... or just pulled a number out of the hat?
This SP is so undervalued !! Should be at least 0.6p - hopefully rerate once production confirmed - at least a bagger or 2 from this position before end of Jun !! (Jun 24 GR !!)
Meanwhile KOD seem to be picking up speed,
come on GR, it's embarrassing .
Moving my profits from PXC back into here :)
I am hoping it’s not a case we are pleased to announce pipes valves in all good but the pumps can’t handle the flow back to drawing board and I think this maybe the picture for a while as more DESIGN inadequacies come to fruition, I’m sure I’m not the only one who is getting a wee bit sketchy with the silence
GLA
Everything Xed
Hopefully just a little longer to wait for some good news 🤞
The last 12 months have been frustrating to say the least but better days are surely ahead 👍
why would there be an rns?
are you seriously expecting in the space of a few days, having the plant running adequately for the first time, that they've had enough time to fully asses everything?
i'd say a few days of optimising (optimistic) then a few days (again optimistic) of plant running to work out detailed output levels, shipping dates etc.
then i'd expect an rns containing result of installations and possible future dates.
or it's ****ed. one of the two.
Calm down....this is mining ..a new one at that..not a happy meal ...
The fact there was no RNS this morning is telling. As we all know GR loves to shout out about the successes, but keeps the failures quiet until he has no option to release them. Replacing pipes is a pretty easy job, doesn't take a master pipe worker to do it, the old ones are taken off and the new ones bolted on, probably takes at the very most an hour per section of pipework. I'd expect, given that the pipework was on site on Monday (allegedly), that it would take no more than a couple of days to replace the inadequate pipes with suitable pipes, then a couple of days to run some product through along with some optimisation. Yup should have had something by today. Pipework maybe not as big an issue as GR suggested, how about them sorters or control units that cannot talk to each other How's those issues being sorted?
The plant has been in commissioning since April of 2023. So technically we are in month 13. In the April 27, 2023 RNS George wrote "Following commissioning of all plant components, work on optimisation of the plant and process control procedures to achieve nameplate throughput continues".
“One tweet of plant working”……
As I recall it, we have had several announcements of the plant working.
GR entirely skipped the commissioning part which is easily 6mth on a chemical plant (what this pretty much is), and we are now maybe 1 month into an effort of getting things to work with a new band of guys. Meaning, the next tweet might well NOT be as positive as you hope.
And we all know what sort of news GR share, if he remains quiet for a while….
Worth a look while it's quiet here. Hoping to move my profits there back into this before the news on the upgrades!
Side pump
George still standing in front of a pile of pipes and valves trying to read the instruction manual for a ‘lithium producing machine’ as he calls it
Hahah, no he didn't. He said to Mark he may know more about when they may ship next 'Saturday'. If he was asked on an interview, he may have more info..
Quit all your surmising and whinging and just wait for news.
Ha! Funny how people that have sold out know exactly what is going on. One tweet about the plant working and this will could double in one session.
There is a lot of whining this this morning. GR said 9 days ago that he on Saturday (just gone) would know if plant is working.
As with GR, good news break early, bad news break late, it is a NO.
Stark are gone. It was a costly experiment for shareholders. GR reputation is in the gutter.
Hopefully the new contractors can turn it around for all involved. We have all the ingredients for success - plant, mega ore body and a big supportive partner. The plant will get sorted - its just a matter of whether that happens before shareholders lose patience. A key factor is the Lithium price. The only way is up from here so the economics of the plant and the whole area should improve over time. This is a key inflection point as we all know. Lets start generating some revenue!
Some of the Sentiment for GR is very justified. I doubt anyone could argue for what he hasn't done over the last few years compared to what he said he would or by when. He lied through his teeth only a few weeks ago during an interview ( The IF NOT HOURS speech ) How many weeks later?
All holders should be supporting him at this moment in time because IMO because it is either going to fly or go bust and i doubt any of us invested wishes to lose our money.
George is a 1st class CEO. he is able to fleece shareholders over and over again ,as long as he is able to maintain his lifestyle he's on the pigs back ,and yes he did invest some funds into prem. But be rest assured he has had received a lot more over the years than he has invested