George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Agreed badomen, we're being played like a fiddle
Waste of $14m.
He's not a fan of humble pie 🤣
Lmfao, it does feel good to be vindicated. Any comments, sleepydisaster?
No no Sharebug, according to sleepdisaster we don't know what we're talking about and dropping 16% on an RNS is perfectly fine and acceptable
More likely we'll get an update on gold in another 6 months' time, crammed in with every other thing we should've been notified of in the past 6 months.
Not surprised the market is disappointed in the RNS. I've said it before and I'll say it again: Bernie isn't the right person to move this forward; he just is unable or unwilling to provide a constant flow of RNS. This is all stuff that has happened over the past 6 months that we should have got an RNS for at the time; releasing it all at once is just inviting volatility, which isn't what we need at this stage.
It doesn't look like that at all - "ongoing discussions" is not a good sign considering these same discussions have been ongoing for months with no agreement reached
Sorry mate, think you're on the wrong board; this is for Kodal, not Marula. Keep it on topic please.
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What did that add to the discussion?
Talking about Kodal slipping and sliding and mentioning Prem in contrast? Lmao, have you checked Prem's SP this past week? It's down 15% and counting.
Massively sweeping generalisations here and a misunderstanding of what value a share buyback can bring to a company. Kodal issued billions of new shares over the years to raise money to fund various gold exploration projects to sell on; there was no prospect of regular cashflow in the near future. We then got into the lithium game and the gold was supposed to fund our pivot into being a junior miner. That changed when we did the deal with Hainan to fully fund the lithium project. It's pretty much a done deal now that the Bougoni will be up and running and provide great cashflow, so we don't require the gold projects to fund Bougoni; if anything, it'll be the other way around. We now have a small window of opportunity to reduce the billions of shares in issue, which will return value to current investors and send a very clear message of confidence to institutional investors. The current drilling campaigns will cost nowhere near the money we've got in the bank, and it makes no sense to sit on the remainder when it'll be small change once Bougoni is up and running.
Kodal could really do with using some of their free funds to do a large share buyback whilst the SP is still massively undervalued. Clearly the gold projects are taking a backseat and won't be off the ground for many years to come, so it seems a bit pointless at this time to do more drilling and pump up the SP when we're going to have good cashflow very soon.
I think Bernie was definitely the right person to get the project off the ground, but given the current state of things, I can't say I think he's the right person to take us forward. The way he handles RNS' means we go months with the SP drifting only to have all news dumped on us at once, the SP to rocket for a bit and then more months of drifting. It's the reason day traders and shorters circle us like vultures constantly - we have a CEO whose actions encourage high volatility. We need someone who gives regular updates every step of the way, otherwise we're just going to be stuck in this cycle.
The Chinese military is a paper tiger and utterly useless in any practical sense, especially against insurgents in asymmetrical warfare. If there are Chinese security forces in Mali, their presence will have next to no tangible impact.
Or dropping below .3 triggered a lot of stop-loss orders
Thanks Bernie. Looking forward to this settling at .2 between now and the next update in months' time 👌
Lav, my comment was in response to Dazaliam suggesting we're sat on nothing but dregs from the main orebody. We know Leo are sat on a large deposit, we know from what we've surveyed currently that our confirmed deposits are lower than Leo's, but it's stupid to comment on our outstanding resource until we have some evidence to say either way.
Flawed logic. If we know the value of both a and b, but the value of c is unknown, all we can say for certain is whether a is larger than b. We won't know the value of c until its been measured. Critical thinking is in short supply nowadays.