George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I saw thanks, wondering if they decided to do the PIK for Nov…..beyond that worried about need for cash and how they raise it. Feel the last RNS has put us back at least six months, and we can I’ll afford that. Just wish MM would stop talking, maybe let Jesus have a turn….
Do people know if we are we going to roll over the interest? Are we going to use atlas funding?another round of placements? The latest rain impact production? Electrical problems…..or just because MM opened his mouth again….based on the last few years that usually does the trick…so as we like games what do think it is
Hope he makes it to the mine with a mop and bucket…
Best of luck it’s that IE, and keep dry
Perhaps send MM some paper towels and suggest he tries the same…. In GITs defense he was relying on the weather sites.
IE, did you apply for a job there or was it someone else?
Where is your info from, Google says sunny and cloudy
My understanding is the operating company, as it’s the sole operation at present, will have all the income and opex of the activities for that company, Wres, as the holding company with the other operations most likely has overheads but no income, hence not a positive Ebita, don’t stress about that so much. There is a hell of a lot to do and with our curse I fully expect falling frogs from the sky to impact production in Q4 but the issue isn’t the Ebitda (though fully agree they put so much spin on things people just don’t trust them anymore, so focus on production numbers)
Far be it for me to say the obvious…but that is not what MM said 12th Oct, around 10 days before the RNS, at a time it is unbelievable to think he didn’t know….and therein lies the rub of the matter, they may give monthly figures but they also appear to tell porkies , or at least half truths….
For the sake of clarity, situation is far from dire. It’s disappointing, frustrating, infuriating…but not dire. We aren’t getting a break but the hard working employees are doing their best. I just find MM’s communication and IR skills woefully underwhelming
The reason you need to do an interview or speak to investors after producing numbers that paint a picture so wildly different to what you said in an interview less than a couple of weeks earlier, when you must have known how bad it was in September but still made it out to be good.
Is so we don’t see the usual desperately sad picture of the sp slipping.
Regardless of whether you are a fan or hater you but have to concede that his last interview was awful and the numbers were bad as compared to what he led to believe, and given that it was 12th October, he must have known. So an interview (preferably someone other than MM as he has lost all credibility, but guess we are stuck with him) would be nice, what would be even nicer would be the video conference we were promised in July/August time…..
Any volcanos near by or earthquake fault lines?
That’s how I feel…we are cursed…have an idea how we can lift it but some maybe offended
Tro et al…. How do you reconcile this with what he said on 12th Oct with regards to sept numbers. It’s classic MM, creates unnecessary expectations. This was why I was concerned about Pablo leaving, he appeared to be the only grown up in the room.
As a matter of interest, how long must pass before we stop calling ourselves a new mine with glitches and become a properly run mine…..asking for a friend
On a related topic, to have fallen 35% on production totals in a matter of a month is a hell,of a lot. Can it simply be explained by some water and electricity problems?
The problem is there is a general,lack of faith in what they tell you, it doesn’t pass the smell test. Listen to what Masterman said about production in September being better than august, he said it on 12th of October and it made many of the fans believe, reasonably, that the numbers would be a lot better but he must have known about the impact of the rain in September when he said it, as well as the outages, which month did they occur.
Appreciate this is supposed to be a new mine and we have had delays for a shopping list of reasons but reality is people get jittery when the quarterly n7mbers are delayed because the longer it takes the more they suspect it’s bad news. Similarly, they don’t believe we have turned a meaningful corner because there always appears to bec something else to trip us up and at some stage people have to accept that perhaps it’s management where the buck should stop.
Given that the only activity in Wres at present, based on what they have told us, is in the operating company and EBITDA strips out interest, depreciation, tax and amortization…I wonder what it is in Wres that is causing it to be negative when the operating sub is positive.
On a separate note have been meaning to ask, Safety, can you recall how many years ago you started your mantra of not wanting to be out of these shares over the weekend and what sp was it then?
Management have learnt and got their c*ap together. Fans on here may not care but reality is the market expects to see a company get the little, simple things right like reporting results about the same date every quarter. It really isn’t hard to do. If you are trying to manipulate the data by waiting an extra week to put in the following quarter that just isn’t professional. Do your quarterly reporting 2 weeks after quarter end, like you did in prior in year 2 quarters and if you want to give an update for October do it in November. But doing it this way gives the impression, like happened before, that they are scrambling around to put a positive spin on things.Q4 results were on the 21st so let’s see if we are regressing to the start of the year…..
Can you imagine the CFO of any FTSE 250 company saying such rubbish. In fact the CFO of any properly run PLC in production saying such utter nonsense
They still gave us the Q2 numbers by the middle of the month….