George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Howzap, I wouldn’t mind waiting to prove the resources up further if the share price was 6-7p now, but I would be worried about it falling further in the meantime whilst waiting for further exploration. So I’d really like to see the share price recover to 6p+ in the short term, with the MRE or African Gold results. I’ve been underwater for a while now, and would to like to see my original investment achieved, before I was asked to wait several months longer.
If you take overall the essence of what he is saying, about what to do with the geophysics, and the fact they haven’t been out with the begging bowl for a while yet. Could be a hint, there could be a further extensive exploration phase in the likelihood that AA may not want back in.
The company will always be looking to keep options open as long as possible and keep cards close to their chest anyway so wouldn’t read into anything at this time. As far as we know from official RNS the company are considering a third phase, so keep open minded with expectations for now I’d say.
The first hurdle is, and has always been the objective to get to one or both the trigger points as soon as possible to see if they want back in or not.
I doubt if that has changed.
When kiawara sold kalumbila it was probably the right thing to do at the time. But have always felt Colin was regretful not being able to advance the project further to have achieved a greater value. (In hindsight anyway. ) Colin may not want to see that happen with Xtract if there is scope to advance Bushranger further up that value curve. He wouldn’t be doing his job for shareholders if he undersold it.
Well I enjoyed the chat. Good background stuff about metals and Cu etc. Supply and demand issues coming up. Little stockpiled Cu.
26.50 -
"major discover" " No doubt in my mind"
If you listen , it's obvious his depth of knowledge and I can't see how anyone would say he doesn't know what to do.Okay he does come across as a car salesman sometimes, but you did walk into the showroom.
Holding firm.
"I would like to think CB can't talk too much about Xtract as there are lots going on in the background re buy-outs."
one of the producers of that podcast did mention elsewhere earlier, having just finished the recording, that "things are happening ... but he can't say much, so ... hold your horses"
read into that what you will.
"Yeah ok... that interview does actually makes me think he still has no clue what to do and that news is not as close as we hope.... Any other thoughts?"
Are you asking if you have any other thoughts? I doubt it. So your takeaway from the midweek takeaway is that Colin Bird is clueless?
I think it was more of a general chat re copper / gold prospects and not about a discussion about Xtract or individual companies.
I'm not too sure it was helpful re Xtract's future direction. I would like to think CB can't talk too much about Xtract as there are lots going on in the background re buy-outs.
Well, that's what I would like to think....
Yeah ok... that interview does actually makes me think he still has no clue what to do and that news is not as close as we hope.... Any other thoughts?
Right now in this bear market even legitimate discoveries are not recognized. Mining stocks have been hammered down so much there is a disconnect between asset values and market caps. So you have to ask, ‘Is it not desirable?’” Or is it something people are just not seeing or they don’t have the guts to buy it right now.
Bushranger will probably be the biggest undeveloped resource in australia, bigger than Rio’s Winu. So If, for whatever internal or external reason AA don’t want back in, other big boys will be lining up for it.
Besides, with a current market cap of 30million!
Production income from hard rock and alluvials expected to be in the region of £10mpa for at least 6 years, would potentially give a forward PE ratio of 2?? Is justification enough to see a lot higher support level once meaningful income is reported.
When news starts dropping, especially on both fronts, the share price recovery will be swift
Scrap that, I've just seen some other news that has derailed that thought process.
Sandfire have withdrawn from a Doolgunna farm in agreement. Could this have an impact on XTR?
"That 1 share shows up, doesn't someone here say that means an RNS is coming?"
No, it is a code telling initiates that next week's thunderball will be number 1
>That 1 share shows up, doesn't someone here say that means an RNS is coming?
Nah, it means that someone is on a free trading account and wants people to think that traders still use shares as code to say something is happening, you know instead of text, whatsapp snapchat messages etc
That 1 share shows up, doesn't someone here say that means an RNS is coming?
"more than 20% ABOVE the asking price"
Value is not a subjective and is, ultimately, what someone is prepared to pay for something.
In XTR's case the contractual independent assessor might skew this by ignoring factors that might increase the value to any particular bidder in a price war. A recent example of this that I have come across is a friend's house being 'valued' by a surveyor for divorce settlement purposes, ignoring the crazy housing market where properties were flying off the shelves for more than 20% of the asking price.
An independent assessor is going to try to be very careful not to undervalue or overvalue.
Maybe AA could stump up the price specified by the 2nd independent assessment, then flip the asset on the open market to the highest bidder. I wonder if there is a safeguard against that!!
>>So XTR can refuse the first evaluation and then have to accept the second. - I'm not 100% on that, however, as I've mentioned before I'm sure AA legal team would not make an easy out of the contract. Otherwise it would be easy to reject any offer from AA just to break the contract and sell to another company.
I guess, once all the DTM docs are out XTR could get offers from other companies. perhaps those near to out licences :) - Should the independent valuations be low it could be show that higher offers are on the table, possible leverage there.
Bird has suggested that the independent valuations would not favour us especially with the limited drilling in areas to date. Third party interest would help IMO should we end up going down the independent evaluation process.
Alright xtractors..
I've done my bit for the team with a few buys - including today- here recently ..
Here's to less p*ss xtraction and more value xtraction in the coming months
We have the 20% as leverage and the other 3 licences as leverage. If AA want it, they'll offer a fair price IMHO.
Gixxer, but surely XTR have to be prepared to accept the adjudication. They may accept the first evaluation but decide not to go for the second. I presume....
Thanks Jezzoo, the price may simply be rising in anticipation of good news from CB - to be reported , or based on actual good news that has leaked.
As I understand it, the company can only refuse the 1st independent evaluation. A 2nd, and final one, has to be accepted.
Saying that, we have the 20% as leverage as I'm pretty sure any potential buyer will not want a partner. That is our ace...
this afternoon with CB talking about Bushranger according to what I've heard.
Should be worth a listen judging by the SP rising this morning.
Yes, but one which CB can refuse to accept. There are others waiting to consider the resource.
Except its an independent valuation, and that will be based on current copper price.