George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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>>Where does Colin go now
He could start by upping his exposure here after all his BS. Say to 10% - He can then feel the pain his BS when the SP drops....
Where does Colin go now with his media interviews ? He got away with misguidance for so long but he has over stepped the mark regarding BR and has been rumbled imho. His public spat with the Stevegate poster shows that he was rattled over the results of the BR drilling. Not sure he has any where to go now tbh.
"The world falling into a financial 5hit storm and Putins antics have been the biggest influence though."
If that is an attempt at explaining why the sp is at such a low level, than I dont agree. POC is not much different to a year or so ago and the sp was 7p just over a year ago and the war had been going for a few months.
By far and away the biggest factor for the sp fall is that reality is not matching CB's expectations. The 12 month decline started happening as the reality of the situation became known and replaced CB's expectations and forward guidance.
This "lets blame other factors" is straight out of CB's play book of deflection and obfuscation and moreover of not taking any responsibility.
Ooh really good question, definitely one for discussion.
Think Colin has managed to drag many along, some kicking and screaming there is no doubt. The forward funding requirements of BR have played a pivotal roll in his previous rhetoric and that financing overhang has been the head wind. The world falling into a financial 5hit storm and Putins antics have been the biggest influence though.
With £4m shortfall (so far) from missing out on the warrants. Could expect a further raise to take their place to get BR to PFS so will need a succession of good news in a new PR drive to minimise dilution.
There is a bigger picture at play that ultimately benefits all share holders, particularly more so the holders with low averages that took those earlier risks before the first hole was drilled.
I’m pressed today for time now unfortunately, as would love to play more bat and ball.
If it did the SP would be 10P
Ok let me ask this then... do you feel where the project is now reflects the early guidance given by Colin to shareholders ?
Hey Lw
Depends on the level of profitability that would determine how desirable it is for it to compare with other similar projects at the same stage. So I would hope it to show economic viability. But should the question be, does it need to be viable at todays price? Conceptual is just the next level that will direct where NPV can be improved on after all.
Ultimately I guess It would need to show now that the project is a viable one, to warrant further investment in improving on that economic potential. But projects can end up having a number of studies ‘until’ a desirable economic model at pre feasibility is achieved for ‘them’ to justify going onto full feasibility.
Howezap... can I ask you a question. Do you believe that BR is a viable project at today's copper price ?
How is value calculated on a resource with so little drilling?
Again referring back to ice comments, that majors only pay for what has JORC with inferred parts of the resource discounted by 50%.
Can’t substantiate if this is a generalised discount, or differs with different mineralisation type. That is that disseminated mineralisation seen with BR is not as predictable as veined or breccias for example.
Interesting that over On Gallileo Resources comments are made that undervalued at 12 million capitalisation but here we now have the same market cap with substantial copper assets and regular gold income so the value here seems out of proportion and would rather hold this stock with potential gains
Allo Ma
Would be unlikely they would drill out Ascot now just to chase 2mt. Better to concentrate on RC open pit with a viable mining study to trigger the AA option.
Luckily BR does have Ascot tho. If RC early payback phase cannot be shown to be desirable enough, for a major to take it on then Ascot could well prove to be the preferred option for the early payback phase.
Ice commented on this scenario
BR project does have that optionality.
>1 billion tonnes with potential of circa 1.6MT CuEq
That also doesn’t include any further resource increase of Ascot until such case as if , or when required or desired for the additional ore.
Dani... who is that comment directed at ???
We are all here to make money which is why some of us with quite large holdings are annoyed. You dont have any reason to take the high ground with us really.
I would hope you can recognise Andrew that my, as you say, “rather optimistic view” is backed up with some logical reasoning behind it that I have offered over the weekend and prior.
We all know that the fundamentals alone will not just simply increase company worth, it is purely news driven with supply and demand of shares that drives up the market cap. If there are no new investors around willing to buy at present that is not going to happen and see any rise sustained.
A polite reminder to all that at the time when BR is ready to approach AA , is likely the resources will have increased to over 1 billion tonnes with potential of circa 1.6MT CuEq after optimisation drilling whilst not including any potential resulting effects of pre-concentration or other resource optimisation.
Good to have opposing views of the LTH’s and us newbies that have only been here two years lol I’m sure we will meet in the middle somewhere when we are grey and old.
Fulmar
You are coming over as an ex shareholder who wants to keep checking that you have made the right decision to sell and move on.
I suspect you are hoping what you are saying is correct as much as anything :)
You may well be proved right...for now !.
Your rather optimistic view could be correct HZ, but having been here many years I can say, with some certainty, CB does not hold back on promoting any form of good news and does not quickly advertise bad news.
With all the incoming CB is getting, and no doubt aware of, you would think it would be highly likely and sensible he threw a bit of Red meat to the shareholders, assuming he could.
"It’s hard to stomach that all assets have fallen short of early expectations "
This is imho is probably what has happened. Mainly because those early expectations by CB, were probably not realistic in time scale, results and output.
1.3mt CUEQ is a big find, but it will take a high POC to trigger interest and a buy. That will eventually happen - but it is what it is
Even to the desperate point of calling JLP his success...! !!. It seems to have done a lot better since they sacked him !
CB helped built JLP up to a 400m MC when he ‘resigned’ as he felt his skills were better suited to concentrate on companies in those earlier stages of their development.
Xtract has no debt or interlinked share structure
I would argue your reasoning Andrew in that it would also be the case that there are no exiting developments at Kakuyu either or any other developments. They could offer an update on feasibility study for plant extension at fairbride or hints of any further acquisitions they are looking into. The radio silence is apparent now at corporate level and not just the pre-concentration study that can be used to sing from the rooftops later when market conditions improve.
It’s hard to stomach that all assets have fallen short of early expectations which may well turn out to be the case, but, until we get those updates I hope to remain positive of the back of all those early expectations.
With FiFi (Find It Flog It) at the helm ? I severely very much doubt it !
WSJ recent vid
https://youtu.be/jP_t1lo0ZgA
What we all want to happen here, will eventually happen, but its going to take a lot longer than CB's timescales !
I've watched with interest for a while recently and good "ole "MaB seems to be desperate to support the rickety scaffolding of Birdie shares with her multitude of personas across the various share BBs. Even to the desperate point of calling JLP his success...! !!. It seems to have done a lot better since they sacked him !
I was told recently by a friend that one of Birdies shares had a chance, and as she admits it's the 10% that succeed that make it worthwhile. Because of the reliant and interlinked debt and share structure ,just one Domino might be enough ! When is the question ? Oh dear FiFi
is it "the emperors clothes" -Whatever -you don't care do you ?
On sky news 20 minutes ago that we will need more than double the amount of copper we're producing right now
and mainly comining from Chile. Yes we do know that but are we finally waking up to the fact. Poised to take advantage. Get ready to do your stuff CB and make a re newed name for yourself.
All that may well be true HZ, but CB said we would have some results to indicate the situation 2 months ago. No one is asking for the final definitive answer to exactly how it improves things, but by now from early indications CB must know more than before he started this initiative.
In short if the early indications had been promising, albeit still with a long way to go in this assessment, I'm sure CB would have given at least a hint that so far, early indications were promising.
Infact with CB's MO, I would think he would be shouting it from the roof tops !
"i feel its nothing to do with pre selection of ore or any other side show but purely the price of copper."
Not in agreement!
Resource optimisation is not so important at scoping or conceptual study level granted, but becomes increasingly more so in showing a good economic development case where NPV/IRR at pre feasibility will be more so important.
Not forgetting the social and environmental tolerances of open pit mining is making it increasingly more difficult in obtaining permits. With mining projects that can incorporate these measures to significantly reduce energy and water consumption in line with AA’s and other industry ambitious Sustainable Mining Plan targets of a 30% improvement in energy efficiency and a 50% reduction in fresh water abstraction. These projects will have a big economic and environmental advantage.
To show amenability of BOS particularly will be a massive plus for a major mining company that has increasingly more responsibilities to its own shareholders and to attract new in lowering their own carbon footprints in a modern changing world.
It’s not for an explorer just to decide, let’s see if our ore is amenable for BOS and hope for the best. It was Optimal Mining that identified that the BR copper mineralisation may be well suited to pre-concentration So there is a greater confidence in positive results being returned.
I don't think its anything to worry about tbh
It looks like the mercenary army are in Africa at the request of the African leaders acting a a private security.
As for Moz......
"Similarly, Wagner Group forces deployed to Mozambique in 2019 to help fight the self-proclaimed Islamic State in the northern Cabo Delgado province. However, the group failed to contain the insurgency and withdrew from the area after a few months. "
Wagner group now left Moz and the Islamic state fighters are in the north east and nowhere near manica. This is nothing to worry about imho
https://www.cfr.org/in-brief/what-russias-wagner-group-doing-africa