George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I'm not surprised, to be honest.
TB has put a huge amount of cash into this 'Proper' Business over the past few years, with a genuine view to turning it around. By the looks of things he's delivering on this, and the recovery is gaining traction.
Bear in mind that his initial investment is much higher than the current levels, and I would suspect he's looking for a healthy return for putting in the time and effort and more importantly the hard cash.
It's one of the tightest-held stocks on AIM.
TB has nearly 30% for starters, Miton 12%, Henderson 7% AXA 7%, and newcomer Armstrong Investments has over 7%
Keith Butler-Wheelhouse has increased his stake to around 1% in the past year also.
£5m Market Cap is absolutely remarkable down here - I've said it before I'm amazed they haven't been absorbed by one of the bigger players.
You couldn't build the plant at anything close to the current price - and that's just at RDC!