George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Same Paul, written off my investment and unfortunately given the grim outlook wasn't prepared to average down or thankfully wasn't prepared to sell at such a large loss...anyway, another chance to get our money back and some!
Good luck all - maybe really quickly with a discovery at Velocette or with M&A over the next 24 months or so!
For clarity here is the list of the 39 licensed companies:
https://www.norskpetroleum.no/en/facts/companies-production-licence/
For Japex they have negotiated a super fast entry into the lucrative Norwegian O&G market at a low upfront cost & with low ongoing opex and with very little risk!
They have taken a 49.9% stake in LBE Norge AS -(to be renamed LBE Japex) and as such immediately benefit by being one of only 39 companies in Norway to hold a licence for oil and gas assets (compared to the uk with over 130 companies.)
They also leverage from the infrastructure and expertise of the LBE experienced management team.
For LBE, a rescue plan that gets them back on track providing the necessary finance to execute their strategy to become a full-cycle E&P company focused on growth through value additive M&A transactions and with the drill-bit on tax efficient exploration.
A win:win - looking forward to the big build!
However, the delivery of the DFS will enable KC to tie down the debt financing/grants etc which is positive. I also expect off- takes to be announced (subject to the latest bulk samples being a success) and possibly the FID subject to permit(s) approvals.
We all know what happened to Rio Tinto's JADAR project in Serbia. High risks = High rewards.
I remain hopeful given the importance of the automobile industry to the Czech Republic.
Isn’t KC the chairman (cough) - must look good on his business card when booking restaurants - but come on - it’s all being run at Geomet thankfully - I’m glad for clarity that he is now doing very few interviews which is a good thing because he can’t help exaggerating hence providing false timelines!
Listen he’s a caretaker - not a leader - he has never had the ambition to bring on multi assets in the lithium space but to answer your question who is better - my goldfish for one!
If carlsberg did rescue plans….your looking at it! They say no dilution but for sure a Loss of half of any future Norwegian assets but let’s be honest here - there wouldn’t have been any given the management failed - anyway for new investors at these low price entry point it’s a great deal to jump on board! ( you can’t blame the Angel investors like Fidelity International Ltd bailing out - given its not what they signed up to)
The granting of the Cinovec mine permits are high risk and timeline wise out of the full control of CEZ - they want the mine signed off first - be silly to build a gigafactory next door if there is no raw material inbound - good to see their full focus on the mine development.
There is plenty of ore at Cinovec so CEZ don’t need to worry about not getting first dibs!
Yes it seems you are right - the RNS wasn’t clear but the presentation is:
https://longboatenergy.com/wp-content/uploads/2023/05/LBE-Project-Skyline-Presentation-vFF.pdf
@happysparrow - the JV does not receive the potential 50m USD - that money goes to LBE (the PLC) in consideration for LBE (the PLC) divesting 49.9% of the assets held in the subsidiary company LBE norge which will be renamed LBE Japex.
This newly named subsidiary will receive access to the 100m USD investment fund which in itself can leverage further debt finance and if used to buy exploration or development assets can qualify for the Norwegian tax rebate!
Listen folks, put the past behind you...we all know KC was unable to deliver......our future now lies in the hands of CEZ.....I'm feeling quite excited now that we have a professional blue chip in control especially given the current market opportunities!
Must say this quarterly update is completely useless!
No update on the production of samples needed for potential off take partners that KC said would be available in Q1.
No update on permitting and re-zoning.
No update on Luthardt Investments - have some of their options expired or not ?
Nothing but a tick box exercise for the ASX regarding cashflow reporting which incidentally still refers to payments to KC's spouse.....Is he still married and if so what was the transfer of his shares ordered by the family court all about!?!
Hope this new Company Secretary gets on top of the poor/false corporate governance that KC keeps executing!
Anyway, we can only trust in CEZ to deliver shareholder value here because KC in my opinion has lost shareholder support!
"Wishing all the very best to all true Greatlanders tonight/tomorrow morning"
Strange phrase that's common here - anyway - I'm guessing you mean good luck all GGP shareholders - or are you referring only to your cult!
@Ben " ( and that’s just HAV) "
Thats the only potential near term asset this company has which although is a potential (unknown yet) great asset there is no certainty when it (Havieron) will be put into production.....It's clear that the market need more info before serious investors will come onboard.