George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
GIT, let’s be crystal clear, just because there is no legal requirement (basis) doesn’t make it illegal, if there was a legal obligation I would accept the decision more graciously. in a capitalist market, where the shareholders are suffering terribly, it is morally wrong to do it, especially if one big benefactor of such an act is the CEO himself. Hope that clarifies it (I have made this abundantly clear all previous times I have raised it).
I neither have any recollection of such a commitment, nor have found any written proof. Fear you may be mixing it up with the Queen in Blackadder when he and Lord Melchard were kidnapped.
As for happiness of them converting, that is fine but please put it in your calculations of the 120m shares. With or without it we are going to need a considerably higher Ebitda to make a decent profit for us mugs who have averages which are 4 times plus of today’s price.
Assuming Father Christmas, aka Masterman doesn’t use the flood as an excuse to give them another extension...given him doing it without a legal basis once, you cannot dismiss the risk as he clearly wants his warrants that he has.
Thanks GIT, you forgot Atlas conversion, the extended charity warrants from last year, the options given to the senior employees previously and you should factor in a Bruce bonus for them when they finally deliver something so I am heading closer to 140 million and based on prior performance I challenge anyone to say I am being unreasonable ( fully expect it to be higher, and that’s before T3 dilution. But as you said, better than us being in liquidation) can’t help but wonder where we as shareholders would be if we had stuck to the FID and left the original upgrades for when we had generated enough money, we would have undoubtedly lost value and would have bee; more expensive but I have no doubt that overall would have been better for the shareholders who held back then and are still holding.
Sums up society perfectly. Used to be when you would save up to buy a tv with cash, now you put it 9n credit card and pay the interest....oh well another week of our lives wasted in Wres but there is always next week
Hope springs eternal...or as the Arabs say...enshallah....
Don’t forget that this was before we lost half our company in the coming 24 months thanks to dilution. Honestly put no value in Shard report ( this one or last) beyond scrap paper if you printed it before you read it.
GIT I sincerely hope to get money back in years to come but the spectacular or even decent profit I fear is but a pipe dream. The gods have clearly not smiled on us. Btw did they mention the gold, knowing them they will sell it cheaply with a partner buying in before know the true value of what we have....sorry it’s the 2/3rds empty glass symptom
What’s the time a few years ago that I thought that perhaps the dividends would contribute towards my old age but reality is I’ll be happy to get a bar of whisper a year out of the dividends the way that it’s going. So we’re clear, bottom line, how much they screwed up the buck stops with me as the shareholder and if it’s sold out and bought in at the right times I would be less concerned.
GIT have lost count of the number of times they have said they are fully funded and don’t need to dilute more. All that we can say is that at present they do not need to, doesn’t mean something else doesn’t go wrong tomorrow or MM decides to do or try something that will blow up in our face (like mining in a different area than originally planned).
With Atlas’ next dilution we will most likely lose another three percent or so of our shareholding. What we will end up getting compared to what we thought we would get is like ending up with a Skoda when you thought you were going to get a Bentley.... both Volkswagen but different level of luxury and speed. Let’s hope MM doesn’t steer us to a reliant Robin.
Thank you for the clarification
Thanks for the confirmation, don’t care if they missed that deadline by a couple of days, more interested to know how our production and shipment looks like in May to see if April numbers are continuing or being improved on ( as the last April shipment didn’t sip till may would not include it in total May numbers
Three more questions. Are there any plans to,put the Q&A on the Wres site for us poor soils who couldn’t make it and have nothing better to do. Also did the CFO manage to do a better job this time and finally is MM back to his salesman energized self or is is more reserved and feels like not as engaged (felt that in the couple of times he has popped out the last 8 months).
Even though he has mitigated his level of dilution thanks to extending the warrants last year for himself and this awful for LTHs dilution, he is still being diluted a fair bit, though once production commences consistently I have no doubt he will handsomely rewarded with new shares.
Thank you to you and GUG. Today’s dilution is a big hit to all of us, we have said numerous times before that this will hopefully be it and have been disappointed so let’s see the results for Q2.
Btw did we find out if MM got his consulting fee for 2020?
But I read someone say that on the call one of the three said the plan was for a permanent solution before the flooding even happened, or did I misunderstand, did anyone ask if they could have done a temp fix.
Thanks, still feels like a real expensive way to address the problem. Oh well, sounds like I didn’t miss much, was MM showing off his hairy chest
Wonder if atlas knew about the placing so decid3d to wait before the converted....they will be rubbing their hands
So they always needed a couple more million to do the work? Did anyone ask why Atlas or any other source wasn’t used as we have been hugely diluted....
Just finished my work call, look forward to hearing from people who made the call
Sorry dial in details
The short presentation followed by Q&A will be hosted on Zoom. Please register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_Z8ilbiEdQPezB_H4YhqgTg
Many thanks for registering your interest in W Resources investor Q&A which will commence at 12pm today, Monday 17 May.
Wasp, not sure if you are joking about it making sense. It’s not rocket science to arrange and give. That they are already 16 days late they could have got their act together and sent it last week along with the confirmation or at least by Friday. But am sure everyone agrees Justine is worth every penny her PR firm earns as they have done so much to help promote Wres....