George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The AA buy back option has probably protected Xtract from a low hostile takeover bid. I cannot imagine that Colin would wish to confirm that we’re short of 2MT. But equally why would he trigger the BuyBack or negotiate with AA at the current time.
Whatever your views about how long inflation might be high, the geopolitical situation if anything is now more complicated and prolonged with China Taiwan tensions.
So I’m resigned to a longer timescale with unsatisfactory RNS and interviews for the foreseeable future. But I don’t doubt that this is a potential Tier 1 mine at a time of growing demand for copper that will be sold at some stage.
The last RNS (27 July) referred to 2 drill holes at Footrot. No mention in this one
Don't worry guys, we are all in the same boat. Non of us can sell any quantity of shares.
Turn up at the AGM in 3 Weeks, there's no security there either BTW. We can find out how many lashes the board are willing to take?
I feel I missed my opportunity to cash in at a higher SP here. Greed clouded my judgement despite knowing all too well the history of truth economics. I see this drifting lower now as it seems there is nothing concrete to gamble all the much awaited FB cash on.
You only have to look at Biden, similar age to Bird, to see clearly that one just can't operate efficiently at such an age. Never mind running, Odin knows, how many companies....
I hope I'm wrong, and I maybe, but this is starting to look more likely that the results from phase 1 and 2 have not met CBs implications.
Phase 3 drilling and now including IP outside the Ascot and Racecourse, does seem an attempt to try and find more tonnage to justify his previous comments.
I'm not expecting the RC model to be released for some time.
Less than 3 weeks to the AGM. CB may have a few questions to answer and some clarity required.
I think he may get a harder time there than with the Zak Mir interviews.....
Hole 53 completed 23/5 and hole 54 30/5 both assays RNS'd on 27 July so maybe 8 weeks.
They need a level of geo review before RNS produced so they are likely back from the lab sometime before that and depends on geo workload.
CB please just retire FFS.....
Yesterday Steve quoted "The expert has 60 days to say what he thinks the value is using the Valmin method, which includes a DCF model, and Enterprise Value and looks at similar sales in the last five years"
Even if we reach 2m/t, AA could offer a low ball price then use the Valmin method. Given the current copper price, possibly worse next year and similar project sales based on the "last 5 years", is it in our interest to rush a sell. Valuations will not be based on some hypothetical high value of copper in x years time.
agree Steve and I found the statement "Its gone over the markets head that we are producing gold at Fairbride" hardly surprising and rather self inflicted !
>> hardly surprising and rather self inflicted - Spot on!!.
He's moaning about that and yet does feck all PR - it's/he's an absolute joke to expect the market to somehow know what's happened just from an RNS. The only people that, really, read them are investors. What world does the man live in....?
It's an easy ride for him to blame the current markets when the company is doing feck all to promote assets that are actually generating income after years and years of dilution - A much bigger deal should have been made of Manica coming online.
The company could, easily, halve the salary of the CFO - Bin the, so called PR man, Alastair Ford, and get a CEO in who's actually willing to spend time on the company!
The fizz has definitely gone out of this ATM. I get the feeling CB is making the mistake of spending money and time on a phase 3 drilling programme that has a high likelyhood of a mediocre result. When he said (repeatedly) that this wouldn't be a "death of a thousand cuts" I believed him, now we seem to be falling into the trap of chasing rainbows. The longer it goes on the more it will feel like the XTR of old and that isn't good at all.
I don't many will have the stomach for another 12 months of uncertainty with the SP where it is now, it's bound to slide unless we get an RNS that doesn't consist of average news and kicking the ball down the road.
I've always been an advocate of a few extra months to prove up Ascot etc so we don't under sell RC but out of the thousand cuts I feel we are already up to 900 and enthusiasm in the shareholders is bleeding out as time goes by.
If it carries on in this vein I can see 2p by Xmas and I for one will feel like we missed out on a golden opportunity to make a good few quid in a relatively short period of time. I really hope I'm wrong and we haven't been misled over the last 18 months.
Lets not miss the boat Colin.
Let's hope the Sunday Lunch guys get an interview... they allow more time and actually get to push for some answers.
Awful interview. I hate the way these guys are never held to account for comments and statements made previously to the same interviewer. CB is just being given a platform to say what he wants, without any difficult questions. Clearly Zak does not want to give reason for the likes of CB to refuse future interviews, but this is just frustrating for shareholders.
Sorry
Forgot FB Rns on 22 July, but it did not read in as positive way, as it should have done.
How long are assays roughly taking to be completed atm?
If possible whoever is able to attend the AGM does ask a few questions of which have been discussed over last few days.
CB mentioned on GLR part of interview mentioned 1000 lashes well as far as Xtr, is concerned would say that it is already around 5000 & still rising.
Agree that on FB there has not been any full on news on it trough RNS. Unless you count around a couple of lines of which was in an RNS.
Disappointed that there was no indication of when the model will be issued..... doesn't change the end game but it is disappointing that I still dot know when to buy the popcorn and champagne.
Those attending the AGM should try and push for news on the Racecourse model.
Without a clearly communicated end game, I would think XTR is now vulnerable to a buyout. That SP spike of 18 months ago looks out of sight now so brace ourselves for any low ball offers. The forward selling that takes place around the cash raises should indicate that large holders are prepared to accept what appears to be too low a price.
agree Steve and I found the statement "Its gone over the markets head that we are producing gold at Fairbride" hardly surprising and rather self inflicted !
Doesn't tell us anything new.
So we are not only getting a phase 3 but phase 3 will also be testing further IP/geochemical anomalies outside the Ascot and Racecourse prospects. I thought it wasn't going to be a death of a thousand cuts... has the IP turn up some targets that appear too delicious not to dip a drill in and taste? We need CB to do an interview and fill us in on what appears to be a change of strategy.
vox markets not listened yet
https://www.vox markets.co.uk/articles/trader-s-cafe-with-zak-mir-colin-bird-executive-chairman-galileo-resources-4d47b9d/
https://www.dailymail.co.uk/debate/article-11078903/CHARLES-PARTON-war-Taiwan-global-catastrophe-China-risk.html
Lucky - I think we need to demand that dividend is paid in gold !!.
"Racecourse & Ascot are prolific in mineralisation"
The good thing I keep telling myself is, it must be worth drilling if we are going to spend our millions from fairbride on it!! Because if bushranger doesn't turn out to be all that, then we will have no value for shareholders.
Colin must be going for one last whorahh, but I warn you and everyone else, tomorrow is promised to no-one....... so don't take too long as some of us might not see the value!!
So following this amazing news I am a waste of space .
The news basically confirms everything I said .
There will be a further cash raise to drill some holes but principally to line Birds pockets .
He is master AIM genius.