George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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So many placings and dilution by Colin Bird, that 1 million is nothing in the grand scheme of things.
He has ran out of ramping options for all of his companies now
A reminder:
Colin Bird’s AIM record (as of March 24):
Time he became CEO of BZT- SP 0.5….now 0.02 (over 95% down)
Time he became CEO of XTR- SP 10...now 0.9
Time he became CEO of Galileo 7.38...now 1.0
A lot of money has been paid by private investors to fund these ‘companies’ but the more interesting question is how much money has been paid to Colin Bird, over these periods?
I also had a lot of money tied up in AIM which has meant i had to delay buying a house for 1.5 years
Dont count on getting that money back, its gone.
CB must be about 78 now, his gameplan is pretty clear...put it this way, it doesnt involved getting PIs rich
A reminder:
Colin Bird’s AIM record (as of March 24):
Time he became CEO of BZT- SP 0.5….now 0.02 (over 95% down)
Time he became CEO of XTR- SP 10...now 0.9
Time he became CEO of Galileo 7.38...now 1.0
A lot of money has been paid by private investors to fund these ‘companies’ but the more interesting question is how much money has been paid to Colin Bird, over these periods?
@billy10123 nailed it
This is all CB tactic to do more placings to pay for his salary
A reminder:
Colin Bird’s AIM record (as of March 24):
Time he became CEO of BZT- SP 0.5….now 0.02 (over 95% down)
Time he became CEO of XTR- SP 10...now 0.9
Time he became CEO of Galileo 7.38...now 1.0
A lot of money has been paid by private investors to fund these ‘companies’ but the more interesting question is how much money has been paid to Colin Bird, over these periods?
Alternative alternative three letters to RUN, Mr Zap - and thanks for such good advice btw - is ROB.. as in how plenty of shareholders might feel to the value of 10's of millions gbp across CB's AIM Empire of legal entities :-)
forgot to post reply to ****nal221
>>>only thing cb does, as far as value is concerned. is destroy it.
acquisitions that ‘see’ potential to be of interest to majors, projects that have or are advancing through drilling along with all the other technical work, is all adding value to assets. the share price does not directly follow lead from projects status, it is purely driven by supply and demand of those shares and with what’s been going on in the world over the past few years it’s not surprising these types of stocks are not favoured in the present climate, regardless of what is held currently in project portfolios. can’t put mr bird in the same basket as a tin pot dictator and all the other russian revolutionaries that preceded him in causing the same global instabilities and uncertainties this time and witnessed previously throughout history. he’s not that important he could single handedly cause the whole resource sector to crash as it has done. he might crash the buffet at the ivy in kensington but that’s about it!
>>>The plan needs to be in an RNS that’s been legally approved IMO
JB they can never say never that a fundraise will not happen but was RNS’d in half year report that,
…….the Directors do not anticipate the need for funds to be raised in the twelve-month period from the date of authorising the consolidated information.
That was sept ‘23, the full audited report will be of interest to that respect.
Irishdemon 👍
NtM - Alternative three letters ..REP…. Or RUN
Well said, howezap. The vice of sanity !!
Whether clean, or renewable energy. The transition will require copper, which is central to its delivery and storage capabilities. Emerging economies such as India will need huge amounts for electrification alone.
There are billions of people around the world that are not on the grid. This will change as technologies for the provision of renewable energy and the battery storage of electricity is advancing and is increasingly becoming more accessible to nations that require it.
Even the debate on EV’s as to whether or not, they will fully replace petrol or diesel cars in the race against Hydrogen cell vehicles is not a concern to coppers demand. Hydro cell cars are still driven by electric motors, and the new infrastructure for refuelling stations will require vast amounts of copper.
Every twist and turn will see copper being central to it. With nations being under increasingly more pressure as their economies recover to decarbonise and reach net zero to be able to trade their goods and services at a premium.
Re It will of course need leading economies to grow for demand to increase before copper rises sustainably.
Trouble is many countries around the world are rowing back from the crazy race to net zero. Potential risk for POC is therefore a new kind of clean energy, eg hydrogen, nuclear
Sorry Jamies. Misread your post.
Jamesie. Curious to know why you believe others are queueing up to take it off our hands when the company we signed a deal with aren't interested
Monty. BR is parked for the forseeable and unlikely to be profitable below £10k POC so at the present time has to be nil value imo
Alternative three letters ..
REP
as in the reputation Mr Colin Bird has.. not always justified...but it's a problem, and not a minor one ..
Howzeap “the market” does not respect/value companies own self published presentations , rightly so.
The plan needs to be in an RNS that’s been legally approved IMO
3 little letters howzeap
First one begins with R…..
>>>Until it’s there in black n white writing that’s he’s drilling without diluting again mkt won’t rule out placing.
Plucked straight from this months new presentation
‘Shareholders to benefit from discoveries without recourse to dilution from fundraising due to availability of treasury funds.’
What more is needed Jackbal ;-)
Logically it’s absurd to expect a placing down here
Eg” we’re selling 20-30% of the whole business at 7 million gbp so that we will be around to receive 15 million usd.”
I would like to think they will avoid a placing down here at all costs. It it involves them taking equity over fees or making some directors loans to cover any crunch period it would be much more appropriate and fair than them tapping the market for convenience.
However I can’t rule out a placing when the price is behaving this way. Hopefully just the market misbehaving???
They could pay a “special dividend”
Loss making co’s frequently return cash this way (doesn’t matter about losses)
But the thing is they won’t pay a div because 15 million over 3 years is already a fairly limited exploration budget.
CB needs to come out with some firm facts on funds and drill dates.
The market won’t rule out a placing where Birds concerned (did one recently at Bzt that pretty much killed hope for anyone that held for years)
Until it’s there in black n white writing that’s he’s drilling without diluting again mkt won’t rule out placing.
The sell price here has just dropped to 0.8p which is pretty mind numbing.
If a dividend from the manica cash is not allowable due to accumulated losses, how about a share buyback programme at these very low prices? a £ million set aside to buy shares consistently over 6 months would reverse a lot of the BR dilution and give the share price a strong boost. IMO.
A thought stimulating post there Mr Zap.. thanks.. and while I absolutely agree that low inflation/interest rates and good global economic performance for a sustained period are fundamentally important to the future of Bushranger, I only agree somewhat with your comment '' A Copper spot price will not have a real influence on a valuation per-sae''
Psychologically, a sustained seriously bullish USD 10k ish per tonne copper is very important towards a sporting chance of a meaningful Bushranger sale event occurring in 2025 or 26 imho..
(For context, I think copper has only once been over 10k USD a tonne once previously - 2011 ish - and even the USD 8k + per tonne we're recently at is a good/ very good price versus long term historic averages .. Also -for whatever it may or may not be worth - I note that Mr Bird gave his latest PoC forward view on that Galileo podcast that Flipper recently kindly posted here as rising to USD 10.5 k Per tone q3 ish 2024 and thereafter in the USD 9.5 k to 11 k per tonne range for a couple of years ..
For me, such a USD 10k ish per tonne PoC is one of the minimum requirements - alongside low interest rates / inflation, strong global economy/copper demand etc - to see Bushranger have even a chance of meaningful sale event in 25 or 26 )
Yes an increased copper price will need to underpin the future viability of BR, but more importantly short to medium term , global economic stability, low inflation and interest rates, will see a reduction in the very costs that will have the biggest effect on the financial performance of the NPV model which the company are currently optimising. A Copper spot price will not have a real influence on a valuation per-sae.
It will of course need leading economies to grow for demand to increase before copper rises sustainably.
"Any guesses on bushranger value as it is"
· The current Racecourse Prospect Mineral Resource has the potential to be economically mined at mining rates of 20Mpta, or greater, and at copper prices of US$10,000/t and above.
The Bushranger Study concluded that the highest post tax NPV8 of AU$363m (NPV10 - AU$265m) processes ore above
0.10% CuEq at 20mtpa with a sale price of US$11,000/t.
So worthless until POC its $10K and even then no one will want it as profit is marginal. POC needs to be above $11K before anyone would want it. I think POC will be hitting $12K + in next 2 years so it will probably be sold but not for another 2 years. Bottom drawer for me re Bushranger but hopefully sp appreciation from Zambia after drilling starts??
https://www.lse.co.uk/rns/XTR/bushranger-pit-optimisation-financial-study-jxp0lzmb606mvwu.html
At $4/lb and the AA clause in action I just don’t see anyone taking it off XTR hands or XTR adding value to it (Zambia is clearly the focus) so I think a value of 0 is about right.
If the price of copper starts going up and the futures curve is robust this changes things for me, alternatively if CB is able to deliver on what he spoke about at the AGM and negotiating an exit to AA Claus this also changes things for me as I’m sure the asset would be of interest to people (has potential etc)
Cheers
James
Any guesses on bushranger value as it is.
1mill or 100mill ?
Only thing CB does, as far as value is concerned. Is destroy it.