George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Maybe MB has already done a deal exclusively with Petrovis or the like to raise the cash from them for cheap shares, for example 2.5p. Now if the SP was 4p+ and they did such a hefty discount just for Petrovis, they’d be uproar from PI’s. So could MB have decided to release that RNS, trash the SP so that when the private placement is done at 2.5p it doesn’t seem so bad?
Something doesn’t seem quite right to me and the above is just a wild, unlikely theory. But I do think we are going to hear something at or immediately before the AGM that we won’t like.
“You are misleading people quite deliberately. We are funded until the end of July and after that there may be other sources of funding.”
Prophetus - I hope we are funded longer than that. Because if it is only to July, there will almost certainly be a raise within days/weeks. No CEO would let funding run down to the last few weeks.
Other options? I private placement exclusively for the likes of Petrovis? I can’t see a bank lending money when we aren’t making a bean. Either way, it’s going to cost us money or dilution.
Happy to hear a more positive option.
Cyber - I've not been aimlessly trashing MATD. Yesterday was bad news or at least not the news we were hoping for, surely we can agree on that? I've said we need to see what is said at the AGM and I'm hoping there won't be too further a delay because then a raise and dilution will be likely, and yesterday's 10% fall will be nothing compared to the damage that will do.
I'm still a bit confused why MB released the RNS and didn't just wait for the AGM, where he could have immediately tried to put a positive spin on it and limit the damage.
Cybertrash - we started the week at 4p. It was a 10% ish fall after a 10% ish fall the day before. But if you think that's all "great", go you!
And as said before, I'm balanced. I've always thought this would come good, but not "any day now" like you and the rest of your ramp-tastic gang like to say. However, after yesterday, I do now wonder if it will ever come good. I'll digest what's said at the AGM and make a decision.
“I must say DOC and Prof got it right and Most of us got it wrong”
Roxy - very gracious of you to say. But I can assure you I’ve taken no satisfaction from today’s sorry RNS. Things have smelt funny here for a long time and I’m convinced we’ll now have more bad news come soon, be it another hurdle for us to jump or a raise. I’m going to see what’s said at the AGM, reflect and consider if I should remain invested, be it in part or full. Regardless, it’s just my view and maybe we can all get on a bit better. We’re mostly here for the same reason, to make some money.
Goodness me, where is the communication from Synairgen to inform us of key people leaving the business? They were happy to announce their arrivals.
As before, I like and believe in SNG001. But deary deary, I do not believe the management team are capable. Unless they pull a rabbit out of the hat at or before the AGM, I cannot support them going forward.
Hamm, answers below:
Doc, please tell me if you think MB should stay? Do you think he can deliver? NO AND NO. I WAS UNHAPPY AFTER HE BLATANTLY LIED IN DECEMBER 2022, SAYING A RAISE WAS NOT NEEDED BUT THEN DOING ONE 6 WEEKS LATER. I THEN HAD SOME SYMPATHY WITH HIM HAVING TO DEAL WITH THE MONGOLS AND THEIR RIDICULOUS BUREACRACY (AND PERHAPS CORRUPTION). I THINK HE'S HAD ENOUGH TIME NOW AND ENOUGH IS PROBABLY NOW ENOUGH.
Please tell me your take? Please tell me why you are here anyway if you are so sure MATD is rubbish? YOU KNOW THIS AS I'VE ANSWERED MANY TIMES. BUT TODAY IS PROBABLY THE CLOSEST I'VE BEEN TO SELLING AT LEAST PART OF MY MATD HOLDING. I CONSIDER TODAY'S RNS THAT NEGATIVE.
Sounds that you are mr know all, then shouldn't be here at the first place! NOT A KNOW ALL IN THE SLIGHTEST BUT I'D LIKE TO CONSIDER MYSELF BALANCED. FOR THAT, I WAS ATTACKED RELENTLESSLY BY WOS AND IAMRICH. AND YOU, COME TO THINK OF IT!
I am sure you were hoping sth get done and you are disappointed as well. I THOUGHT THERE WOULD BE FURTHER DELAYS BUT THE NEWS TODAY THAT CENTRAL GOVT ARE ALSO NOT HELPING US, THAT WE ARE EXPLORING POTENTIAL LEGAL RECOURSE AND MB's OWN CONCERNS ABOUT THE UPCOMING ELECTIONS, IT WAS WORSE THAN I EXPECTED.
Hamm - I don't think you have a right to complain now, having spouted nonsense such as this for the past however many months:
"Amazing opportunity which should not be missed guys.
Nayers claim MATD fails but still here!
Massive rerate not far away."
I must admit, I'm surprised MB released the ops update today. You'd have thought as it's bad news he'd wait until the AGM to a) not allow people enough time to think up and bombard him with questions pre AGM and b) attempt to smooth things over and calm investor nerves verbally.
"Nothing is connected to the elections"
MATD are clearly concerned it might, hence them explicitly mentioning it.
Re a raise, it is feasible they'll arrange something exclusively with the likes of a Petrovis, completely excluding the ordinary PI. Remember, out of $6m previously raised, PI's only got $0.5m, IIRC.
Biggest concern for me in today’s RNS (and there are a few) is talking of potential legal recourse if central government don’t play ball. That’s a huge statement to make, especially to the MG, and the first time in my time here that anything like that has being mentioned. It also shows that MATD are concerned no matter what they do, there’s always another hurdle to jump.
As usual, no humility from WOS for getting it catastrophically wrong and criticising those who weren’t so positive.
My thoughts on where we go from here? I don’t expect anything now until after the elections, which MB seems to be warning us of with this:
“However, with 2024 parliamentary elections looming and central government moving slowly…”
If this is the case, a raise is surely on the cards but it sends a shiver down my spine to think at what price. The previous raise was done with the SP at 5p+ and lots of positive sentiment.
It’s even worse than I was expecting, I’m sad to say. And for us to be mentioning legal recourse, that’s a big concern as even MATD themselves must be concerned.
I expect 2.5p today. A raise can’t be far off but how? The SP isn’t 5p like last time.
So nothing has been signed, we are still in discussions with PC, the provincial governor continues to frustrate, the herders still haven’t got their compensation and we’re even now looking at the potential for legal recourse against central government.
Come on WOS, spin this one.
WOS - pull the other one. Every time someone posts anything remotely negative, or even balanced, you come back at them with a subtle but personal jibe.
And the AGM is Tuesday. So we should now get an operational update within the next 3 working days… Friday, Monday or Tuesday?