George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
No need for anyone to be at loggerheads, Eric.
You have a high average, so your support for the company stems from a need to make good the paper loss. Such a position may blind people to reality.
I’ll ask you a simple question:
If you were in receipt of an application from Budge for a CEO position after his 8.5 years with BEM, what compelling evidence is there for you to consider interviewing him?
Remember you own the company - your money, your risk.
The concession has resulted in a drop in the SP of 80%.
None of the upcoming “ inflection points “ are as fundamental or pivotal as the concession itself, simply necessary clerical work, so why should they add any value?
The only strategy which will move the SP up is a sale or JV with some cash rich mining operation.
Budge made the fatal error of viewing the awarding of the concession as a full stop, a destination. It is not. Merely a comma. He should have had a detailed plan in place in advance of the award ready to go in an instant. He dithered, did nothing, not even commenting in the lamentable fall in the SP, then chucked more money at Kosovo.
Now he wanders around mumbling about ambitions with his schoolgirl jewellery and denims.
Pure caricature.
oldbrian,
Nonsensical statement. The SP was stable at around the 10p mark in the months leading up to the awarding of the concession. So the concession proved to be disastrous.
Budge clearly wasn’t expecting to get the concession and was both wrong footed and unprepared.
Exactly as Cameron had never expected the Brexit vote to go the way it did, and was so arrogant had no pan B.
I have no faith in Budge gaining traction in any of the 3 areas of activity, sorry.
Are you joking, Suzy?
I wouldn’t part with a single penny on this share while Budge is CEO.
There is no realistic prospect of any shareholder value from any of the 3 areas of activity.
Just more spending, waiting and dilution.
Sorry to remind you, Eric, but you repeatedly said exactly that in 2020 with the 3.16p placing.
I doubt the fundraising will be 100% taken up, and a sizeable chunk will disappear on repaying the bridging loan before Budge starts chucking more money at Kosovo.
I’m saying in the next few months you’ll be able to buy cheaper than 2.06p
Eric, £1.5m has gone to Kosovo since last March, part of the reason why the company is cap in hand right now at 2.06p.
Budge hasn't got a clue about sequencing priorities, and Ulla is happy to fall into line with the any time will do attitude.
Ulla has been in post almost a year, and by the time she submits the application for the environmental permit it will be almost two years.
By her own admission, much of the requirement of this stage is included in the exploitation concession application and can be reused.
Why is it taking best part of yet another year before she submits the paperwork?
She's doing little else, is she?
Why is identifying exciting potential, planning to do stuff, having ambitions, signing MOUs etc etc so bl**dy costly??
All just to stand still and demonstrate imperceptible progress??
I don't get it.
And neither do the markets, clearly.
Suzy,
How much would you care to wager?
Remember you lost the last wager when you got tetchy with me, as you insisted the exploitation concession would be in the bag by May 2017?
The current fundraise, once the proposed money for Kallak N & S plus Kosovo is deducted is a fraction of the money required to build and operate the Finnish plant, which would be £20m+ capital for the build. Another couple of million for equipment and a £5m per annum working capital to operate the plant and pay wages. Ball park figures maybe, but not far off.
Plus Budge will need to appoint some highly paid technical managers and directors.
As Nobody seems able to answer the questions I posed earlier, it’s just more smoke and mirrors from Budge to try and make sure the funding is 100% successful.
I don’t believe for one minute that you’ll ever see the company build and operate this Finnish plant.
On the face of it, some progress....
I need some help properly understanding the Finnish situation though:
1. Who will finance the building, equipping, management and staffing of this downstream capability?
2. Who will be purchasing the raw materials and from where?
3. Who will purchase the end product?
4. Who will the revenue from sales go to?
The scale of this operation seems way beyond BEM’s capabilities, and Budge has zero experience of such a process.
I am genuinely bewildered by it all.
Suzy,
He was scruffy. No jacket or tie and wearing denims. And he wears a ridiculous bracelet like my 8 year old granddaughter wears.
He is a CEO ffs.
If he doesn't take his position in a filmed interview about the future of the company seriously, why should I take what he has to say seriously?