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The 7million short term loan has to be repaid over 12 months with 10% interest attached.
Any revenue reductions or delays will impact companies ability to repay or have sufficient funding for working capital purposes.
Whilst I am confident that over the longer term the syme model will work with a repeating and expanding client base we could be in for some further short term pain. The market cap is 67million for projected short term revenues of around 0.5m...that's a little excessive in my opinion.
Unfortunately this is simply a lifestyle company from day one.
They have generated no revenues of any signifance from the inception of the company until now.
A sales executive was employed 15 months ago
For what reason I have no idea ...and as I understand they are still employed.
Guy Meyer you can only but laugh...listen to his earlier podcasts ...
This is always the concern....
Cash net at 26th April was 7.7m
Cash net at 30th June was 4.9m
On a projected Cash flow basis...a placing is possible at around this time ...but depends on those overhead cuts and impact on working capital from July onwards...
They maybe OK but it must be tight.
Yes I have to admit that last rns would appear to be somewhat misleading ..a full audit from start to finish can be completed in 6 weeks...
All in my opinion.
The rns and the problems highlighted some outside of vast control almost certainly in my opinion means that cash generation to meet operational expenses is the short to medium term problem.
Additional placings are likely to meet working capital requirements and this will probably mean further dilution ...
The market reaction has not been good and we all know ap is not adverse to a placing or to...
The is likely to be at significant discounts to the prevailing price.
Ap has really screwed this up ...from any lth perspective...too many placings and destruction of the share price ...it's even down another 50% from the consolidation...
This has been on short (stay in cash) recommendations for several weeks now by market commentators.
AZ needs to provide hard figures soon as the gradual drift will continue as present mcap is to inflated based on a concept.
I agree the concept is likely to bear fruit but until those numbers are showing revenue and profits its all supposition.
If those numbers are not in the public domain until Nov.. dec expect to see a signicantly reduced mcap and likewise share price.
That's OK...
Go into sealand capital galaxy...
Draw down on reports and announcements
Full information available
It was necessary to improve the current assets on the balance sheet...any major contract negotiations with larger entities will do financial due diligence.
They want to ensure that the company has sufficient liquidity to sustain sales supply chains over the given period of the contract.
Standard practice...
For me a buy....in my opinion
Do you recall all those early podcasts ...the company was on the cusp of greatness with many commercial opportunities which for reasons of confidentiality couldn't be discussed.. they even employed a new sales manager over a year ago.
Well 12 months later we have no commercial revenue of an significant value but hold on they have arranged a trade show.
You can only but laugh...
Talk about a lifestyle company ...this has to be the
Ultimate description of one. All inmo
Hopefully we should have some significant share price movement leading up to results on the 23rd September.
Market reacting to additional shares and mcap dilution in the coming days...Will bounce when this has been churned ...
A few of the main market protaganists have this marked as strong sell...short ....hence the relentless daily drops...it will turn at some point but it may have to drop to a mcap of 5..6 million
...if you can get the timing right then some hugh gains to be made.
No real updates expected until end of September.
It's been 3 years since the signing of a contract with Southend fc and not one contract since then had been sufficient to pay one year's salary for one employee. The only business it has successfully completed is generating working capital through raising funds...some news price increases placing at substantial discounts and then forward sold...but even that now can't happen...I would love to be proved wrong but I did say several months ago that this was a company set up as a vanity project ..hobby...for the bod...all in my opinion.
THE reason for the fall is partly due a to continuation
Of the same formatted rns.s
The fact remains that since this company's ipo there has not been one meaningful contract.
A new sales effort with new people on board was put in place over 12 months ago with no reward.
WHATEVER happened to afri-id ?
UNFORTUNATELY at this time I am invested but as the months pass by its looking more and more like a vanity project ...to which they can consider themselves gainfully employed until the money runs out and cannot raise any further funds ...by which time they will of moved on..
Expect volatility as the shorts desperately try and close.
A 2/3% drop daily appears to be the new norm.
IF the board leave the much anticipated update until late August we could be the mid to late teens. If the numbers and proof of concept have materialised in not just revenue but numbers of on board clients then yes a 300/400 % increase is possible,similar to last year.
Until some positive news is released slide will continue daily......the share is currently in the shorts mode all market commentators have sell recommendations which is not helpful.
Probably august/September????