George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
1. The US didn't 'declare war' after 9/11, huh? Tell that to the Iraqis. 2. the shekel weakness is largely a positive for the company as is the likely increase in cyber spend by the government and 3. the gobbledygook that constitutes the remainder of that useless post does nothing to push back on the idea that you're a poisonous pos
I'll bet you agonised over that for hours, didn't you, dartron? "Let's see, how can I design a quick comment that allows me to rub it in the face of the guys who are mean to me that BATM's sp is down hard, without me seeming to be a shameless ghoul who knows full well this was due to a horrible, unimaginable event that was not only unforeseeable but likely won't even impact the Company economically." Years of posting on these godforsaken message boards, and I don't think I've ever seen such a soulless attempt to use a tragic event to try and troll a bunch of strangers who you think don't like you. The US market crashed after 9-11. Did you write then about how that was an example of 'regional risk' too? You're beneath contempt.
Israeli market was open today and BATM traded down in line with the index to the equivalent of 24.3p on 40k shares, around -6% on our Friday close. Not a surprising knee-jerk reaction considering the conflict, but I think even the most bearish fundamental view for the company is that, at worst, this should be neutral for BATM as its logical to assume that in a time of war, the last thing a government is going to do is cut cybersecurity spending. In fact, I think it's perfectly reasonable to suggest that this awful development is more likely to result in an increase in engagement with the government than see any kind of cut. Hopefully, the Shore Cap analyst will come out tomorrow morning with similar comments.
And a final observation, as it may be a further small reassurance, during an auditor-delayed suspension such as this one, ECOB could of course not simply sack PKF and hire a new accounting firm. Besides the terrible message that would send (fair or not), that's a big no-no for AIM no matter how incompetently the audit firm may have behaved. If I'm right and this is as it seems a PKF-induced mess, ECOB will be stuck with them until the audit is complete and re-listing occurs. Even then, I think there is a standstill period required after re-listing before said auditor can finally be sacked.
Who said anything about 'scot-free'? What gibberish are you ranting about? Everything you listed is totally irrelevant to what I posted. I simply asserted that the delay thus far is almost certainly the fault of PKF and that shareholders shouldn't worry unduly about any vicious rumours that it has anything whatever to do with Eco-Fox itself. As for updates on the factory and commissioning, delivering 'first walls' to their 2 Kosovan customers, Chile, etc, my guess is that as long as PKF have created such a delay, management has/will opt to update the market on relevant matters near to, at, and soon after re-listing so that the information is fresh and up-to-date. That wouldn't necessarily absolve them completely for the 'sin' of not having done so sooner but, if as is likely, part of PKF's malfeasance has been that they were never able to give management a clear guide as to when the work would be done (as has been the case in other companies I am aware of), its quite possible that Sanjay - even with significant progress to share - may have opted to wait until that end date was in fact clearly committed to before organising those updates so as not to made to look foolish by providing an update and then being made to wait many more weeks, even months, before the shares were able to re-list. If I'm right, that looks at least a defendable decision on his part to me. As with others here and on telegram, I too am hopeful that PKF are nearing or have reached the point when they can/have provided a clear steer on a date of completion, so that we will then hear from the Company on a targeted re-listing date and the aforementioned operational update(s). As for an update on the Stone Alliance litigation, that is a total lottery ticket and you should treat it as such; i.e., worry about it somewhere else.
There's a lot of not entirely surprising (or unwarranted) gnashing of teeth (and far worse) here blaming management for this interminable delay. However, the more that one looks around AIM, the more companies one finds with auditing delays where PKF is the audit service provider. Further enquiries have revealed that PKF is a complete mess frankly: Overbooking clients while actually understaffed and riven with a super-cautious approach that requires reviews and re-reviews that they are also unable to conduct efficiently because of a shortage of senior staff as well, this time through early retirement. There are credible rumours in fact, that class action suits (are there such things in the UK?) are even being considered by the management of the impacted companies, and some the larger institutional shareholders. For me therefore, I think we will see our re-listing soon, and as nearly as is possible, PKF to be thrown under the bus in the process. This delay has been far too long, but increasingly, it does not appear to be ECO management that are responsible in my estimation. Small comfort perhaps, but at least we can discount the more lurid, troll-y narratives here.
That's not an unfair take, Barnacle. Anyone in the investment group at 5.68p is certainly incentivised to buy in the market below that figure. More important than the price they're paying in the fundraise, is the fact that they are all in a position to hold an unlisted share. In addition, the 'matching' system for possibly 'trading' your shares, if one does go the private route, can be relatively effective (at times). There are a couple of platforms that provide that service and certain names have indeed seen big gains on a matching basis. One of the big problems is this, however: if you thought that management s***d at comms when BRSD was listed, just wait until you are a tiny minority shareholder in the Company when its private. Also: a small detail on the deal if anyone is considering going for Open Offer - the Leahys of the world are getting 1 warrant per share, while the miserable retail shareholders will get 1/2 warrant per. More evidence, as if you needed it, that this is an historically outrageous breach of the spirit of the takeover code. Full stop
Sure, and if you're willing (or able) to keep an unlisted/private share for 3/4 years until the Company is sold or re-listed, then the group's 5.68p investment is a good sign for you. Otherwise, this is a case of 'They did it because they can....' and a complete whiff by the Takeover Panel.
Sorry, nutmeg, but the close of ILS135.1 in Israel today (on just 160k shares vs the 1m+ that traded here Friday) is the equivalent of only around 38.2p which doesn't quite rise to our 39.25p close on Friday (when the TASE was closed of course). So we'll have to hope the price continues its rally in Tel Aviv tomorrow while Friday's buying in London continues as well.
As another poster points out on ADVFN, if the rebalance of the TASE 125 - Israel's 1st or 2nd most commonly used benchmark - were held today, BATM might have a technical chance to be allowed re-entrance, at least on the market cap metric. Despite that, it would still be unlikely as the stock market officials responsible for making those decisions, use other measures as well, like liquidity and/or free float. However, as he further explains, if BATM can go continue on a further genuine, sustained 20%+ rally, particularly against the backdrop of a very weak Israeli market this year overall, then BATM's eligibility may become irresistible at the time of the next rebalance. Remember: the ejection from the TASE 125 last August resulted in a shocking 7m excess shares for sale at the close of the rebalance day, which caused a significant fall in the sp, and in some ways, an overall negative impact on sentiment from which we are still recovering.