George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
We own a Tier 1 asset. The 3 big mining investors have invested because of the potential. The potential is still there, even though the market has dumped the value by 90%, through director incompetence. A bid will come, and will involve the 3 big investors in some form, they logically have to be onside They were happy to ‘share’ the project before, and will be happy to share the project with a greater ownership, or make money on their original investment. A bid will come, but it will have to be at a lot higher level than the current price. There is blood in the water, and there is a bargain to be had for someone. Painful as it is at this level, greed will see us out, but it will not be at £1.50 I am afraid.
We certainly will go out for a beer. The question is at what level does it have to hit? The trouble is that the potential is so great, and with short term production plans, we could hit double figures as soon as JV is signed. At long last we have some shareholder interest. I would like 15p which is about the highest I bought at!
A little, but most of my buoyant buying was when they received the licences! I got in too deep for comfort, and got carried away. Hopefully it will come good!
Well Mozax I could not agree with you more. I have been in this since PAL days,, and am embarrassed to say I have invested 6 figure sums following it all the way down! I just hated to be wrong, when I felt it had so much potential, a real pension maker! I have even attended two AGM’s. I am rather envious of everyone buying at todays levels. GL with it.
A very positive interview. No red flags. We just have to trust. Potential of 12 million ounces for the upside, which must be exciting for the purchaser.
Just trying to add a bit of balance to the criticism of PC. Everyone here on this board are nursing losses, it is painful for all, including PC. It is how you cope with it, writing personal negatives on chat forums whilst waiting for news is your prerogative. I just question whether it does you any good.
Like Icebank I am prepared to wait for as long as it takes. We know we are going to get Tolsa’s answer by 26 December. Plenty of positives to look forward to, if you are a believer! It is painful don’t get me wrong, but when it turns the pain will be quickly forgotten. Relax and enjoy life, it might never happen!
Mock all you want Safe. Everything is in play looking out from my window. In fact I feel very warm and fuzzy, especially after the last RNS. Not long now, if I were you I would save the mocking, until you understand what is released, otherwise you might have to eat humble pie. That would be the wise thing to do.
Anyone who knows PC, knows that he is tight as a drum, and he is very sensitive to the rules and regulations around insider trading. I am just happy with his comment ‘it was a great release’. I was moaning about the market reaction! This project could dwarf all our other projects. We sit here with a terrible share price, and we are not alone in our sector. Hopefully Tolsa will be a catalyst, and we will then have some options.
It is Twiggy. I contacted PC yesterday about the complete lack of interest in the RNS. I was concerned that I had not understood the opportunity, it turns out I was correct with my understanding. Patience is certainly a virtue.
I am a PC supporter. He is a very conservative individual, he understands the pain of dilution, the importance of adding shareholder value, and keeps a tight rein on costs. It is definitely not a life style company. I am delighted the raise is so small. This to me is a sign that we are close to generating some cash. We have some exciting assets, which the market doesn’t value. Sentiment in our sector is at rock bottom, but this will change at some stage. I expect to do very well here, with little downside risk and plenty of upside. We just have to wait for news and the commodity sector to come back into flavour.
Project Overview
Project located on south side of prospective Humboldt Structural Zone, at north end of Shoshone Mountains, 52 miles south-southwest of Battle Mountain, Nevada.
High grade zinc, lead and silver samples;
Sample No 52303: 13.6% zinc, 12.8% lead, 146 ppm silver.
Sample No.52304: 29.6% zinc, 0.3% lead, 7 ppm silver.
Sample No 810014: 15.9% zinc, 0.5% lead, 17 ppm silver.
Samples occur within a larger altered area containing widespread gossans with anomalous zinc values (43 samples averaging 0.86% zinc).
Geological setting and mineralogical evaluation of the samples suggests a Carbonate Replacement Deposit (“CRD”) style of base-precious metal mineralisation.
Satellite imagery shows large alteration areas associated with this mineralisation.
The Reese Ridge Project covers a fault bounded horst block of fault juxtaposed Lower Plate limestones/shales and Upper Plate Antler sequence sediments bounded to the east and west by Tertiary age volcano-sedimentary basins. Mineralisation occurs at the top of thick carbonate sequence.
The Reese Ridge Project has evolved from the Company’s Reese River industrial limestone project and was first suggested as an interesting target when prospecting by the Company yielded an unremarkable limestone sample containing a few spots of the lead sulphide mineral galena which was submitted for analysis and returned a value of 15.9% zinc (alongside 0.3% lead and 17ppm silver). The high zinc content was unexpected and unexplained and given a low priority.
Since then, various Company prospecting campaigns have focused on a broader area containing numerous conspicuous iron-rich gossans of generally limited extent but which attracted the Company’s attention and that of early prospectors and were found to contain exotic geochemistry and consistently anomalous zinc, lead and silver with values up to 6.8% zinc, 3.3% lead and 51g/t silver. 43 samples taken from these gossans and old workings averaged 0.86% zinc.
In May 2023 the original high-grade zinc sample site was revisited and two further samples collected and analysed with the following results:
Sample No 52303: 13.6% zinc, 12.8% lead, 146ppm silver.
Sample No.52304: 29.6% zinc, 0.3% lead, 7ppm silver.
Sample 52303 contained visible galena and so the high lead content was to be expected. However, the very high zinc values in both samples were again a surprise as the samples were otherwise unremarkable. It is believed that the zinc in these samples is present as secondary zinc oxide, carbonate or silicate minerals. These minerals are difficult to identify in the field in an area where the rocks are significantly altered and do not have the stand-out character of iron rich gossans and are easily overlooked.
Whilst the widespread high visibility iron rich gossans at Reese Ridge are part of the same mineralising system, they were likely a red herring to the early prospectors and the Company’s own follow up sampling campaigns g
It is good to see another potential, I think PC even sounds excited! All this potential for under 3m. We will have a very exciting 2024. The drilling will be funded by the Tolsa money, unless we want to get in a large partner. With this RNS it must get the blood racing, and get the emails flying with offers. One thing is certain, it will not happen fast! Long term value creation is PC’s mantra. Happy days.
Https://www.londonstockexchange.com/news-article/GMET/copper-mineralisation-at-garfield-project/16171141
A very positive RNS,