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 will say it again. Brent and JN do not care. They will sell whatever too ensure there is enough in the bank too cover their wages. They are not interested in increasing shareholder value as they do not hold any shares. Vela is just a pension top up for them. Sacking them is the best thing that could happen too Vela and has been for some time.
With CDT performing so poorly the tangible NAV is somewhere around 0.03p, versus over 0.04p were the CDT price to be back above $5. The problem that the Vela management face is that they need to realise CDT to allow them to invest elsewhere (and to cover running costs) but realising at this price just crystallises a big loss on their investment against where it was when they exercised the option. If they don't get on and realise the investment then they run out of money (or have to realise other assets and become more dependent on CDT), but if they do realise CDT it just locks in terrible decision making.
The problem with CDT is that now it is less than $200m market cap it is a tiny UK-based company listed in the US that no one has to own. Why would any US institutional shareholder jump into an unproven foreign entity, when a lot of the US life sciences sector trades at a discount to cash on its balance sheet?
It's a disaster of the Vela management's own making.
What did they announce. All I can see is the pre market price of 2.66, down 6%.
Hear hear!
I must say even by Vela's standards the performance so far this year has been utterly useless. At .03 I'll be out of here too
A little run on CDT back too $5 could see our SP back up to 0.03p. Much closer too my sell our price and finally putting me out my vela misery.
Sorry…Mti wireless and Ensilica nowhere near year highs…but much improved recently !
Ensilica, Skilcast, Mti wireless and cornerstone all on a good run and near year highs on all of them
A little strength ,green candle after 6 weeks of falls c@ support ,indication of V would be nice close above 0.0185 be a start
Https://www.lse.co.uk/rns/VELA/163250000-investment-in-skillcast-group-plc-08q6vlhnoafbyso.html
another investment picking up nicely......but still below the 37p buy in.
Ensilca is proving a good flutter at 31.5p. Should be back up to 50/60p in the coming weeks as it was way oversold in my opinion. Wish I had bought a few more now, although I did add a few Cornerstone on the pullback yesterday
For those dual holders Cizzle ends with sneaky £47k buy just before the bell. Maybe reflected in price on Monday.
Just for the record my 11.24 £2995 transaction is a buy.
Usual LSE inability to guess correctly!
Great time to hoover up very cheap Vela shares. They are literally less than half price currently.
CDT will be fine, selling based on some peoples unrealistic expectations on progress.
Foe adrenaline and quick profit ( or loss) try CPX ( cap xx) . Massively undervalued IMHO and due to go places quite rapidly. DYOR. Things go up, things go down, et c.
Yeah I've been thinking the same. I can blame the BoD but they aren't asking me to stay invested! In fact judging by their actions you would be forgiven for thinking they want us all to sell!
Hard to see any positives here currently and based on what Dave posted, doesn't look like there will be much going on with CDT for the foreseeable. Imagine if the BoD had actually sold some while the SP was over $5 - should of, would of, could of
Take a large hit
Think it’s time for me to sell here and hit a large hit
No chance! Now that CDT is concluded and those shares are in the portfolio our esteemed directors have literally nothing to do to justify their wages. As far as we're aware there's still no £ in the coffers so it's just a case of flogging a bit of this and that to keep them in tea and biscuits. Anyone thinking that's a harsh assessment can look back at the last purchase this investment company made - May23, Tribe, a full 8 months ago. The excitement over the put option has rather masked that I reckon.
Updated corporate presentation available on Conduit website. Page 24 outlines estimated development timeline and shows that revenues may be realised at earliest from Q4 25. Could be a long wait for the CDT SP to move.
Here is an idea for Vela to conserve cash in the near term. Oscillate, an Igraine investee company has recently announced that “the salaries paid to all Company directors will be paid in Ordinary Shares of the Company in lieu of cash.”
What you think, Board?
Ensi might be worth a punt soon. Missed the bottom with cornerstone. No reason why Ensi can't have a mini revival.
Sorry to hear that Goatlic as I am guessing that the BoD bought an office in an area where property values have since surprisingly fallen - its a gift!
Joe blogs is spot on. Till the BOD are booted out and replaced with somebody that can manage a investment company this will remain a dead share.
The office should be boarded up from what comes out of it! Absolutely nowt.
SP sliding everyday - BOD just watching investor loosing out.Very annoying.Can anyone tell why there is no confidence in the share currently company valued over 5m.
Living so close Goatilcious you must have gone to the AGM, how was it ?
I believe it is the accounting office of Director EW & only a registered office for Vela. Maybe she will make you a cuppa if you pop in!