George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Takes time for confidence to be restored after the placing debacle - people are realising that this isn't going to shoot to the stars any time soon and won't be worth the silly numbers that were being quoted. That said, the most recent developments to start to give some level of assurance that there's a path forming to commercialisation... and a some degree of certainty of a decent return on our investments in the medium term.
Regarding
"- US business would fund clinical trials, inferring they won’t have to spend the placing funds (seems strange they are so close together in timing, whether it was belt and braces, as needed to ensure funds in place if US deal didn’t happen) "
That suggests the placing wasn't actually required - so the share price was trashed on the placing and then they announce the deal saying they don't need the funds after all?!?
Could have avoided trashing the price if they'd simply waited a few days to confirm the deal.
Odd to say the least.
It's a tipping point for many of us ...from giving the board the benefit of the doubt to no longer being willing to do so.
They should expect a much tougher line from investors moving forward and be prepared to provide the information we need.
We have a lot of reasonable questions and they need answering.
It's all about typical investor relations after an RNS like that. Shame there's no real engagement with investors and largely just a puff piece that doesn't go beyond the RNS which of course it can't. It appears to be largely scripted and the interviewer hasn't a clue about the company. Bit pointless really
You've gotta laugh, write a letter to shareholders, publish it and the market wakes up. Nice move.
"The share SP reflects this" - but you say "Sell"?
Their drilling has delivered so far, now they just need to update on confirming their raised reserves and plans for the clay/brine opportunities.
"Thanks a lot the BoD for failing to take any action!"
The BoD are here to simply run the company to be as successful as possible, they can't be held accountable if the price people are willing to buy and sell the company's shares at is below what many might consider "fair value" - there's been no recent news and so the price will continue to drift on the absence of information. The price will react when the further information is made available and until then we wait. The absence of news doesn't mean significant material issues have arisen, if they had we would know.
You can't expect a weekly update from them but you can expect one when something material on progress (or lack of) is known. Those that can't be patient may as well sell up and move on.
Agree, bit of a mess, doesn't appear material but confidence is low and this doesn't help. Could be an absolute bargain to buy into today or could be the smoke before things get toasty. There's precious little activity on the exchange here most days, is there much in Canada? If not, wonder why they're bothering listing there
That'll be me - building up a decent stake in the expectation that the value is realised in good time. Couldn't get more than that from the market direct, I don't expect it'll take a lot of interest for this to move.... and quick... when the time comes.
Yes, awful for investor confidence when just about every RNS has been undermined by the following one. Suggests total lack of control or concealing as much as possible behind the slightly caveated wording of those statements... not a good look either way.
The FT reported..
https://www.ft.com/content/09a84d3a-07ca-4cdd-a649-83f2ebb25681
"Two people familiar with Revolution said there had been a change of audit partner since the IPO but neither believed this had been a significant factor in the refusal to sign off the accounts.
According to one of the people, the company’s relative immaturity was more of an issue. Management was “so desperate to please shareholders that they were too quick to put out guidance”, the person said, adding that the company had probably floated too soon and that “culturally, they need to grow up”.
"
There are 2 schools of thought. The first is that the fall is massively overdone and solely due to Jupiter dumping. The second is that they've burnt through cash unconformably quickly and the resulting debt position will necessitate a placement to enable re-financing, at a price that is very unfavorable to existing shareholders. The results should help confirm which of these 2 is the reality. Until then for those willing to accept the risk, the fundamentals suggest a re-rating is inevitable and the bounce will be significant. Hold on tight!