George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
'Guys the bottom reached 2 weeks ago and now 3-3.5 will be the holding price until there is good news. All the sellers have sold all bad news out of the way and a whiff of good news and the price will go straight back up from here.' TYB 6th NOV. just a quote. no opinion. just a quote.
Boldy must be demented with this d@mn licence.
Dealing with the tanned providence buffoon that frittered away all of the capital raised on other ventures other than barryroe.
Then having to deal with the green goblin who looks for any excuse possible to legitimise blocking of essential and logical developments of indigenous reserves. ' Its not the airport expansion we object to its just that the roads are not adequate. Its not the development of barryroe we object to its that we do not think you are financially capable of seeing the job through' How have we let this happen? All of this eco agenda is coming to a head very soon in a cataclysmic collapse. Europe is finished.
Its easy to judge things in retro but the game was up in 2020 when this green spanner was given so much power.
He is driving us towards the edge of an abyss just like has happened in Germany.
I also think boldy is having to deal with vevan ruthlessness now. He is a good guy who is genuinely concerned about logp shareholders.
If I am worn out with it then he surely must be.
I agree they should be actively pursuing compensation.
However political figures come and go and decisions can be overturned on the grounds of illegality, procedural unfairness or irrationality. On all 3 of those grounds I would say that ryan is on a sticky wicket. His subjective assessment was not based on law, the length of time taken and the principles applied were not in accordance with standard practice and based on current and future energy requirements for rhe republic the decision is definitely irrational.
I do not know what the average is for some of the major shareholders. Historically I was of the opinion that they would want at least 7p/ share but after the past few issues i am not so sure. LOGP have 5 or 6 weeks to decide on a way forward. i.e reverse t/over or admission as an investment company. If the latter then my worry is that existing shareholders are diluted to **** when they raise 6m.
Hope mike is playing this defensively to prevent someone aggressively snapping it up for peanuts.
I would like to see who the 'investor' is. They are getting approx 19% of the enlarged share capital for £2.5m.
Are they already invested? Have they eyes on the remaining 81% ? Im hoping this doesnt get bought on the cheap.
Hi swizz,
I appreciate your point about decisions on BOE future not being agreed till November but how does any of that undermine the ability of LOGP to progress the ECT litigation? If BOE somehow manage to reverse the decision or agree with the DECC on a revised strategy for the development of the licence then LOGP could decide to drop all or part of their claim. It would maybe result in some wasted effort and cost but would LOGP shareholders really be that bothered if the licence was back in play? So my opinion is that from the moment the undertaking application was rejected the ECT claim should have been all systems go regardless of what was going on at BOE. 8 months and we are still getting 'shot across the bows' type RNS that seem to be indicating that the decision whether to progress the claim or not is still up in the air. I feel like I am watching 2 guys threatening each other across a pub. instead of putting the gloves on and getting in the ring.
Over 8 months since the decision. Are LOGP going to continue to talk the talk or walk the walk. I appreciate that a negotiated resolution with the decision overturned is the optimum result but please can someone fire the starting gun. DECC decisions on allowing gas developmemts will just add weight to RYANs claim that the decision on barryroe was related solely to the financial capabilities of the developers.
Ryan has been using delay tactics for years now.
He will no doubt spout COP 28 decisions to try and counter any LOGP comments. He has already said publicly that in his opinion 'transition away' means 'phase out'. Unfortunately his interpretation of 'phase out' seems to be 'stop'.
It is clear the guy sees his future in some european or international environmental cheerleader role.
LOGP need to take it to the next level.
....was in the Sunday Times yesterday championing his 'leave it in the ground' policy.
Check out BRES.....
Got my invite to vote.
I'm in for 1%
Trust the board.
Its a yes from me. Been associated with this since the old Ramco days(steve remp rip- legend).
Think things are starting to turn in our favour.
Https://www.irishmirror.ie/news/irish-news/eamon-ryan-says-hell-walk-31652216
This is who we are dealing with. Not interested in anyone else's opinion unless it agrees with his own. I would make him walk home.
It will never happen but I would love the o&g companies to just stop supplying for a while and let them all walk to their next climate knees up.
Apologies for yesterday guys - bad day.
Only bit of rns I have an issue with now is the figure of 8%
if after the firm placing we are at 1233m ( 40/1233 = approx 3%) then surely an additional 160m conditional shares takes us to 1393m.
160m new shares will be approx 11.5%
So in a glass half empty perspective my opinion is that my holding is being devalued by 90%
My opinion is that the defferred shares are going to get wiped at some point.
I know it says the conditional shares represent 8% but is that the case?
At present c1.2b shares at c0.1p
on 12th dec c1.24b shares at c0.1p
On 29th dec this becomes c1.24b shares at 0.01p and the deferred shares can be wiped out so are essentially worthless.
So does that not really equate to 124m shares at 0.1p
90% of holding to be converted to deferred shares which can be wiped out at the companies discretion????
LC on 41m warrants which I assume will be converted into ordinary shares once the total nunber of shares is essentially a tenth of what it is now.
Am I reading this right????