George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I did voice my concern that how confident he is that Chinese won’t sell off - he said he is confident as has very good relationship and also they are interested in offtake agreement !! From that I gather that he has lined them up for agreeing a 80-100% offtake following jorc !! However while presenting he mentioned that whoever will pay more will get the 80-100% offtake and is very confident to secure that following jorc!! All other attendees plz correct me if my ears were only listening to what I wanted to listen!! I did try to ask as much as I can and listen as carefully as possible as I went to this big event for this ONE company due to my all eggs in this one basket!!!
I think they won’t be far off 15000m at this rate end of the drilling in June as double shifts, 24/7 - easy another 2 months of drilling suggests that! Sorry I forgot about already declared metres otherwise could have digged a bit deeper on his answer - to me 5000m+ in the past 6 weeks was like wao when I went with such a negative sentiment due to no update on 10,000m drilling !! License issues held us up - as soon as I asked the question - I saw the disappointment on his face - positive is he cares about this project - but again I am very trusting person in nature - so take it with caution - again AIMHO
He said he is focusing on quality rather than quantity as cut off is much higher than next door - Also, he said he wants to take it out of the ground, sell it and generate revenues - mentioning no point keep digging and loosing prospective and then finding ourselves cash strapped! - my feeling is that he is clear in his head when it’s time to stop digging - declare Jorc and start selling stuff !!!
He said he is focusing on quality rather than quantity as cut off is much higher than next door - Also, he said he wants to take it out of the ground, sell it and generate revenues - mentioning no point keep digging and loosing prospective and then finding ourselves cash strapped! - my feeling is that he is clear in his head when it’s time to stop digging - declare Jorc and start selling stuff !!! Also he said next door is a great asset as I tried to play it down at one point strategically unintentionally !! He believe Suay chin or A buyer will be buying all we dig and he has stronger relations with Chinese!!
Thanks All, for kind comments - I felt that it’s time for me to contribute when everyone is working so hard and been so helpful over the low periods to keep the spirit up! Hence drove 5am this morning to get there for presentation etc- Also, no doubt it’s risky - but after today, given all the key next milestones are met as stated, and God Willing we will be ok- GLA
All- just been back from the show - as my primary interest was kodal for obvious reasons ! Spoken to Bernard - then attend the presentation - then asked more questions!! Synopsis is: Emotional : - Good Guy, very open to discuss anything and also knows his stuff and came across as a genuine person! Also very good presentation Facts: Q: Any further license skeletons which can bite us ? A: every thing is in hand and disappointed at what happened - now behind us ! Q: how confident are you that JORC will come after current campaign and is not further delayed? And how will it compare to Brimian? A: Jorc will come end of this drilling season! It will be smaller than Brimian as cut off is higher and focusing on quality than quantity and also want to get the digging done and start selling stuff - no point having amazing resource but no plan to sell any! Q: where are we at with 10,000 m drilling ? Have we been making any progress? A: 5000+m done in the past 6weeks as double shifts et. - ( my feeling they are at about 8000m+ from my feeling) could be wrong Q: Bulk sample - how confident we will get it shipped in time before rainy season A: confident however would have liked the work to start early - doing anything possible to make sure 3-5k sample is sent! Seemed to have a plan as went through roads etc next to mine! Q: Suay chin - how confident they won’t sell up in May / June? A: they have been very supportive and don’t see any reason why they would - something along those line- confident look! All in All - feeling much better to meet a ceo who is not a show off instead focused on delivering the results and very confident of us moving from exploration to development to selling the stuff !! AIMHO Hope this is some help for everyone on this board - we need to stick together - and help each other in this journey!
Chesh, double shift logic not scientifically proven, however, what happens is when back to back shift comes the work is done faster and efficiency of work rate is more - why? Because the momentum is not broken as the diggers are not parked for the night, permits stay in place and don’t need to get new work permits, handover from one operator to other is more smooth - all this leads to high turnover rate !! It’s my experience as I have been against the wall several times over the past 10 years and double shift 24/7 work always pay the dividend although it’s more expensive! Why? Coz night shift rates are usually higher and also weekend work naturally cost more but in most instances overall project timeline is squeezed and overall benefit is early delivery of the project and consequently faster payback can start !! Hope this makes sense - if I get the opportunity I will be definitely trying to nail down as many questions as I can - as I have my 10 years of savings in this one basket - I know not wise - but it’s my choice as I said few weeks back !!!
Past 10 year experience in project engineering and management suggests double shift is 130% more effective then single - meaning it’s possible! However I will ask him this question on expected date of bulk sample shipping on saturday as contractor must have advised them based on scope of work!! How much and how long it will take !!
A BIG THANK YOU - super effort and thanks to those who responded by filling the form - All in - have no more money to buy as off last week - so hopefully now wait and see game starts !!! All eggs in one baskets !!! Plz don’t make me regret like crillion!!!
To continue the tradition of starting the conversation on RNS day as earlier in the week I did “ another rns on Thursday” - I Knows it’s a long shot but another rns on 17 drill hole results which are overdue and they holding them tomorrow - before I get the chance to ask him so many questions on Saturday - as rightly said by others on this board - it seems we have lost 4 months due to license fiasco during which we were not allowed to drill for bulk sample - positive though is jorc is mentioned and also double shifts to drill as much as they can now fast !! Before July!!
Update on 5000 tonne sample will get this moving to start with - as market is assuming we haven’t dogged it up yet due to license fiasco!! Also now I am dreaming but any update on Jorc/scoping study will be awesome!! And if I may just allow myself to reach for the galaxy a news on takeover from Ganfeng will just be out of this world - even a sniff of rumour will take it to 0.38p atleast- I dream the dream - I will try my best to proble our ceo on Saturday!
I can see it happening thanks to threat of EGM !! Else I will ask all the remaining questions to him on Saturday !! I agree they must be holding this for weeks!! Why can’t they just come straight and state the facts !! Pure minipulation of SP!
Hi sxxwe for sure I will and RayG thanks for the information- for me if anyone else I coming let’s stay in touch through this board on the day and we may meet up !! I just want to take away my emotional feeling and wanna concentrate on facts and what he has to say !! If anything !!
Hi, can someone confirm that kodal is attending / having a stand there ? Is it confirmed and what’s the resource from which it is confirmed ! I am going to attend if they are coming !! Many thanks !! I have checked the investor show website they did have a stand last year but can’t find if they coming this year!
Hi All, any clue when is the next AGM as I would try to make it this year! Many thanks!! I am still not sure why 17 drill hole results which were been analysed in the labs 3 wks ago have not shown up- unless they have found “a monster” and don’t want to declare - lol. Hopefully RNS next Monday or Thursday which are Kod’s favoured days!! GLA
It could be a bad buy as you said but- as I said I am all in it with everything I have - which very clearly tells you two things I am not a good investor as all eggs in one basket- second thing is I really believe this will make us all happy and rich eventually : now it’s an assumption- a big one in my case but I go by gut feelings and here are some other reasons; In my view by June all will become clear: These are next steps/ RNS’s 17 holes results : should have got them by now - plus an update on overall drilling Bulk sample shipped Bulk sample results Again don’t know what he thinks but scoping study and JORC in parallel would make this go ballistic Or - Ganfeng might takeover us as they are raising $1B at Hk! Fact is in my opinion Chinese have huge pollution issues and electric cars are their way out - which means lithium will stay in demand for atleast next 10-20 years even an alternative material is found! Again key is kodal has battery grade lithium - offcourse analyst will try to knock the price of the commodity down as they are paid billions to do that!! All my Opinion !!