George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Accept delays though clearly some have been self inflicted due to management failing. What is unacceptable is false stamens like that which he made in October about Sept performance and saying in November that there will be an update before the end of the calendar year (though to be fair he has two days to come through).
Let’s see but I stand by my statement, production numbers and Opex are the only numbers that mean anything
For you and others who are not classed as derampers…1st Nov interview you sent link to…MM said update before end of calendar year, does a placing count as one? and how hopeful are you that he will break another commitment made…
Also can everyone please note that links to historic reports by Shard, RNS, interviews etc from this company are as useful as a long range historic weather forecast by an unreliable weather forecaster. By and large all targets have been missed and relying on the assumptions or figures provided for those assumptions are like a broken pencil…pointless…. (That one was for all you Blackadder fans).
We shall hopefully, but no guarantees..have some data provided in the next 4 weeks that will do the obvious…push up or down the price or keep it the same….any other statement is idol speculation.
A very happy Xmas, stay safe and have a wonderful day
21st Oct 2021 RNS
"Work at the mine has continued with new staff recruited and the introduction of a 24 / 7 operation seeing activities increase throughout the mine. In Q3 2021, work commenced on the second water dam which we expect will be completed in November 2021 and will serve to protect the mine from further water issues.“
Why the #£&* can’t they manage investor relations properly, MM makes a statement like this then it shouldn’t be rocket science to actually make an announcement that it has been done, it is a clear, measurable way of confirming delivery on time that will be a small step in showing that they are doing things they committed to and which will protect the mine.
Or in the alternative they have failed to meet another of their own targets for reasons unknown and like usual figure if they bury their head in the sand praying no one will notice. And whilst we are at it, how is the Silo coming along?
We go into another Xmas with MM giving us a lump of coal as a present….
Thanks GIT, I know you feel my pain, lately haven’t commented much here but it still bugs the #£&*out of me that whilst something’s were out of the managements control how much worse they have made it for us. Let’s hope my worst fears never come to fruition and that the Jan figures are better than expected
Hi GIT, my sentiment of Wres took a further nose dive after MM told us Sept was a good month when he knew it wasn’t. I really thought they had gotten their #£&* together but then found out that due to shoddy management of the site we got the electrical problems and other issues that would hav been preventable if instead of the emperor sitting in Australia we had a CEO sitting in the country where we have our investment, and before people say it was Pablo’s job, the reality is The set up didn’t work because there was continued legacy problems from when the plant was first commissioned and switched on such as the water purification.
I have gotten more pessimistic because they haven’t given us any tangible things to be optimistic for. The imperial data for this company’s performance sucks. They continue to stumble and snatch defeat from the jaws of victory. This Unfortunately shines a bigger light on the atrocious PR and investor relations. Case in point, people have been asking the company, including me sending messages to Justine, why we haven’t had the Q&A zoom session we were promised all those months ago, which would no doubt have settled people and given them more confidence, have you had any response about that?
I feel I have a legitimate concern, given the lack of news or engagement, that things are once again turning bad. I base this on past performance and behaviour, this doesn’t mean that their wouldn’t be a miraculous turn around but much like a pet that is kicked constantly by its owner, the investor here can’t help but feel the need to tense and assume the worst.
You can’t help and have a suspicion…based on the past…that something else has gone wrong. They make no effort and have no interest in steadying the ship but are happy for the sp to sink, not caring that if they have to do more placement they will have to do it at far worse prices….MM can clearly afford to take part in those placements..presumably from the money he earns doing his other day jobs.
I am genuinely concerned that the mickie mouse way they set up the plant, cutting corners and not addressing things early enough, means that we may have other land mines and the plant improvements, which predate the problems with the electricity and other things, did not pick up on them. I maybe doing an injustice to them but as they have switch3d back to quarterly reporting and they like to play around with the reporting for their own spin it is reasonable to assume that things may not have gone to plan.
Whatever it is we mid December, I don’t expect any meaningful news till at least 4 weeks and I was told by a chartist that this can go to 4p, I have a sinking feeling he is being optimistic.
Interesting how people focus on that phrase, clearly not literal and in reference to me expressing my view as to his shortcomings, perhaps I need to keep my posts to a primary school level of comprehension to help some of you on this board
Who says I don’t….too many here still think the sun shines…..just because he buys in placings….the last placing, unlike prior ones gives those who took it up 2 years on a one for one basis, including MM, that’s how desperate they have gotten.
Fact is the pattern of none deliverance continues. Agree with Tro, any bounce and virtually all news will not lead to even the price at the end of Sept. like a lot of people I am waiting for another thing screwed up and disappointing numbers.
To all the rampers, the imperial evidence on production has, a general rule, never supported your predictions. In reality, The derampers have infact been more accurate over the last 5 years. This isn’t me whining, it’s a reality. And as I have skin in the game I can comment to my hearts content without being called out. If people don’t like what I have to say pls feel free to block me after they have puckered up to kiss my a…
It’s evident that MM is not CEO or chairman material, maybe a CFO but not a CEO, he has no concept of investor relations…we have seen this time and again over many years. For all the rampers who have said for many years that this time next year…well every year has been worst than the prior…for the same rampers who say when production goes up…they have not been able to keep it up consistently for more than 2 months in any quarter. Yes some issues down to acts of god, some due to bad vendors, selected by MM, or the EPC contractor that MM picked, and am guessing a fair amount due to bad management of LP, making bad decisions, cutting corners, we occasionally get a glimpse and hear about plant improvement but am sure that is all normal teething problems.
Reality is we still don’t have a proper CEO managing Wres, we have a part time Chairman, based Australia, holding down other jobs. Until MM delivers two quarters of back to back good production numbers I will not give him a break or stop busting his chops. His ego is getting in the way, he needs to appoint a CEO and step back and act like a chairman.
Sad reality is that we will be left to drift till third week in Jan most likely. Any news updates will not be game changers and no guarantee that nothing else will go wrong. Not just talking about the weather but have serious concerns as to how well LP was built and managed to start with and whether the improvements mean that they are no longer firefighting and hoping something else doesn’t go wrong with the plant and machinery.
Genuinely believe a Q&A session with us investors, as they promised many months ago, would help allay fears
GIT…since when has he stuck to his commitments…the reality is either he wouldn’t and that will undoubtedly lead to adverse inferences, he does and result aren’t pretty, or he does and they are…now I have stated the bleeding obvious I just hope he does and it’s good news as I could do with some…
Could have sworn that safety said the same thing but another gentleman on here, who lives around the area, corrected him and said it was heavy rain one day and drizzle,or,light rain for two days only. GIT…if you are going to deramp what hope is left for us :(
May we agree what type of hat and whether you will be consuming it on YouTube so we may all enjoy the spectacle. My betting is if environmental approval is given we are up and running Q2.
We will hopefully be gettin* a video conference with management sometime this year, would be great if you attended so you could ask
Safety, easier than that, MM is Chairman, not CEO, a friend who i convinced to invest a while back and I have been apologizing to ever since pointed that out to me when he complained that we don’t have one. MM wouldn’t lose face if he just puts one in below him and let’s then get on with the day job of managing us. Reality is it’s hard to imagine a bank refinancing us with MM in his current role, they will want to see a full time CEO.
GIT, whilst I understand where you are coming from I fear that after some many failed starts we need to see monthly figures to see that they are doing as they say they will. If there is prob
Me they should explain it properly to us. Take the power problem, exactly how big is it an dhow easily, cheaply can it be rectified. What they should have done is to have a video conference, which they said they would months ago, where they could talk to investors. If they switch to quarterly again people will just assume the worst.
Hi Tro, welcome back.
The disappointing results coupled with uncertainty as to need for additional financing, both to address the problems identified as having caused the bad results for the last quarter and in relation to the work needed for Regua and the gold and finally MM’s abysmal interview on 12th Oct, which misled us all, have clearly given the impression to many that we have had yet another stumble and that management are still not getting it quite right.
MM having yet another role in addition to being Chairman, from Australia, is also undoubtedly raising eyebrows, it’s one thing to multi hat for an exploration company but we are now a production company with difficulties and need a full time CEO.
I have no doubt, and am sure I heard it said elsewhere that If they actually did what they said they would a number of months ago and have a video conference like we did before, it would genuinely help.
I thought the foundation had settled for Wres to grow but once again it appears that the ground under us is shifting, as a not so small investor I hope it does settle by next quarter.
As for all the foolishness of petty insults and attacking each other, it’s sad but I just don’t bother reading it. Tro, I may not agree with everything you say or even sometimes how you say it, but I hope, if you were suspended, that it doesn’t happen again as I haven’t read anything from you that would, in my mind, merit it.
Bless you safety for your usual positive spin. He has shed loads of money in, but doesn’t take from the fact we need a full time CEO. How was it Pablo was doing an amazing job yet in a short space of time Jesus has made big improvements, can’t have it both ways. And who has told us of these big improvements, when did he come onboard and what have the monthly figures looked like and what has happened on the ground that supports your view of big improvements. Yes the CFO is now full time and he bought 35k in September at 10p but in order for him to do refinancing we need to somehow find a way not to trip up or be tripped up for at least one full quarter.
Investors who were getting excited before the qend reporting have realized it was another false dawn and given the timeframe given for REGUA are unlikely to return anytime soon, especially if additional financing is required.
Well put, prior placing was done for Regua, during covid and we were given the impression that it was just mothballed and as soon as we got the license we could make a start. Too often the feeling is half truths and spin from the management. It doesn’t add up that it takes that long to get Regua going.
In addition it’s one thing to be chairman and CEO of an exploration company and do other jobs, but we are supposed to be in full production and as such need a full time CEO, not one that is juggling multiple roles, though it may certainly explain certain non weather mess ups. And given that Pablo has left it’s even worse…we had another false dawn…one of too many!