George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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If he said that, yes he is
Which part does he say it?
You don't want to be out over the weekend! Funding news must be on the way, could be tomorrow, could be next week but we are not far away, given the current cash balance.
Who is going to get the auction started?
'84. He said he was. Is he wrong?
Smart move him saying that.
SM, yes, I was pretty surprised as well, particularly as he was bigging the thing up so comprehensively. It's not April 1st is it?
Caldwell and solgold are NOT in a closed period
Every auction starts with a bottom bid 23p starter sounds fine by me
I can only hope an attempt to force an initial bid, to start a bidding war.
I'm actually shocked he said that add. A damp end to an otherwise promising interview.
He'd accept 30 cents. I wouldn't.
Asked if he would accept USD 0.30c (23p) a share for a full takeover, SC claims he would take that. Some realism.
"We believe we'll obtain all the permits to BEGIN CONSTRUCTION in 2 years from now"
Bottom line is this - we are conserving cash, de-risking the project through permitting, land purchases, and waiting for someone to come to us with an offer than works for management with skin in the game. The strategic review is just a way of buying time. Personally I don't think we will ever seen a formal output from this workstream.
"I'm in a closed period".
He also said that they're not currently looking to raise the 'big number'.
SC: "The big capital number, we believe you could finance this through various pieces.... - we need 1.5bn - that's a lot of money for a company of our size. So I think you're going to get a strategic to take this through to production. Whether we're involved on a royalty basis, or we own a part of it, that's what the future is going to tell us."
Interesting on the royalty piece. What a dream that would be.
Surely you mean 9.26 Talatum...
I just paid 9.40 for a few hundred to test the price...
Through 9.4 like knife in butter
SC: "In the short term we're working on some non-dilutive financing. When I say non-diluting that is not an equity offering. At Cascabel, we're looking to derisk the project to make it more attractive via low cost initiatives, such as getting permits. We do not need to do anymore drilling at Alpala. We don't need anymore ore, we know we have more tonnage, but we have a generational mine now. It's really derisking and strengthening the balance sheet that's number one. We need to get some cash into the treasury, we have some ideas. Non equity. Over the next few weeks or months we'll have some proposals we'll have worked through. "
Eloro, yes, thanks for that.
Add, I think I did an excellent job motivating the SP to new highs 😆
Let's hope that this is finally it!!
Interviewer: "Why are you planning to take it into production versus selling the assets?"
SC: "Well we'll continue to de-risk it, that's a very good question, and by de-risk it I mean getting environmental permits, right of ways etc. We'll continue to de-risk it. And if a strategic initiative comes along as we continue to de-risk the project, a fully permitted and ready to construct project is of much higher value than one that doesn't have the permits. As we continue to de-risk it, I think people will be interested in this project as an opportunity, whether as a joint venture or some other transaction to get involved in this project."
That is not the answer of a man who intends on taking this asset to production!
Sorry 8.26 in my message should be 9.26
Sorry redknight saw 9.40 Got excited and spent a few minutes checking reduction in my loss, went back and dropped to 8.26 ! Hope it at least sticks at 9
Thanks, TI.