George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
@valueseeker…maybe you should read the financial statements published on the company’s web site y/e 31st December 2022.
Longboat Energy PLC have an interco loan with its Norwegian subsidiary- just under 3m uk sterling…this will be paid back to LBE PLC from the JV.
The EFF is nothing to do with that.
LBE PLC pretty much have all the OPEX including staff costs etc - these not insignificant costs are not being transferred to the Norwegian JV subsidiary and will need to be funded.
The Japex money other than repayment of the inter company loan will not be contributed to LBE PLC
Hope that makes sense!
Clarity on cash flow requirements needed - interim financial results due out in September which will help - even with inter company loan repaid to plc from JV - I expect cash will be needed in the form of equity and debt.
Directors been in a closed period for some time - got the strong impression they are frustrated not to be able to buy more shares at these heavily discounted prices.
Exciting times ahead - fingers crossed for a successful velocette discovery!
@Stan "No need for any one to get Rampy - Drilling is the key to success "
I believe the ball game here has now dramatically changed - we now have access to a us$100m war chest with the Japex JV deal - so some smart production acquisitions will help transform LBE into a mid tier E&P company in the highly lucrative Norwegian market!
Anyone here care to predict what the share price(market cap) will be at the end of 2023 post the successful Japex deal , post the announced small production deal and with a successful Velocette exploration discovery ?
I’m happy to start with a conservative 80pence (market cap of £45.3m)
Rebs, I couldn't agree more for new investors joining the LBE journey at this discounted entry price - my post was more relevant to the OG investors who came onboard back in 2019 based on the then prospectus/business case presented by HH.... I am happy to let the past be the past (I have no choice)......BUT I would be appreciative if HH refrains from talking about there being no dilution from this point moving forward!
On a serious note, whilst I am very happy to get this Japex rescue plan ….I do fell it misleading to say that there has been no dilution to LBE shareholders - indirectly we have had to give up 50% of our Norwegian future growth - that in my book accounts for considerable dilution!
Like I said it’s a great rescue plan that was a life saver for LBE and its shareholders.
And if it means HH needs to eat a lot of humble sushi then so be it!