George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Suzy, there is no conspiracy. Everyone can now see that Budge is utterly ineffective, even the most loyal long termers.
Having set a derisory offer price, such is the lack of confidence in his ability that the SP has already fallen to a whisker above the offer price before the offer closes, which is embarrassing.
Budge hasn't got a grasp of what he is doing. He talks only of plans, targets, ambitions, exciting potential, without a clue how to realise any of it.
No surprise the self appointed censor has not come clean, since like all bullies, you are a coward.
I fully respect, and would defend you right not to view an individual post and it’s author. And for that there is the filter button.
However, you have neither the right nor any mandate to decide what others choose to read.
Maybe I'm thick, but whenever Budge speaks about Finland, I'm completely lost as to what, if anything, is actually happening there??
No mention of a mine at Kallak in 2026, which is a fantasy.
And mentioning the SP was so crass.
His colonel Gaddafi eyes betray the fact he's floundering and waffling unconvincing.
And still dressed so scruffily.
Anticipating the first RNS after fundraising closes to be an announcement of another million plus going to his chums in Kosovo for more state of the art dronery.
Or maybe a nice bonus for him and Ulla for duping investors yet again.
Any other suggestions?
Eric,
“ what else can we do? “ you ask.
Well, of course it is entirely your choice, but I would urge you to sell the lot and never look back.
You are clearly a very honest, genuine and likeable guy, but you are far too deeply, emotionally involved here.
When I look at the amount of words you have posted recently, this can’t be doing you any good at all- you are completely consumed by this nonsense, which is getting worse.
There is more to life than money, Eric. I know, l8e me , you are not in the first flush of youth.
I am 67 today, and I have found contentment and cutting out anything which causes stress is far more precious than any amount of money.
My very best wishes to you, Eric.
Eric,
Shocking behaviour from an increasingly arrogant CEO.
Look at the SP now. The offer price is now hardly discounted at all. I can see this fundraise failing now. The 70% underwrite is likely to prove expensive - but not for Budge.....
Absolutely Eric!
To trumpet a mine by 2026 in 2023, without fixing the mileposts between now and then is so ludicrous and amateurish.
It is the absence of business strategy and planning allied to the clear and obvious omission of the “ how “ which will continue to depress the SP.
ADF,
Really not too bright, are you.
I’ve been here 13 years.
Only since April 2018 have I been critical of Budge. I had his number from the moment he said he would “ wait and see “ in the run up to the 2018 election regarding the awarding of the exploitation concession.
No CEO should ever utter such a statement.
Back in 2018 my stance against Budge was pretty much a lone one. Now, everyone at least is disquieted by his performance, or, like myself, totally dismissive.
So my plugging away has woken up a few to the realities of this turgid situation.
Blind faith is all there is here, and even that is, in most cases, based on the fact that the investor is sitting on a significant and long standing paper loss.
For me, when a CEO presents, I have to believe what he says. With Budge , I don’t believe a word he says.
More crucially, from his abject performance, it is clear he doesn’t believe what he says either. It is always just going through the motions to keep the money coming in.
There should be a huge sign at Kallak pronouncing “ exciting potential “ as that is the stage Budge will ensure this project is stuck at.
Budge is a mining engineer and after well over 8 years in post, he is not mining.
The suite of skills required of any CEO islargely absent - PR, presentation skills, personal grooming ( it is important ), timing, reading the room......
I could go on.
Simple question Eric et al.
How will a mine at Kallak be in production in 3 years time?
This situation is in freefall, with zero forward momentum, or reliable timescale.
It is utterly shocking from a business point of view.
It would make a very good MBA case study, would it not?
Eric,
Sorry to pour cold water again, but Ulla is still in her honeymoon period.
Additionally, the timing of these presentations is deliberately to try and create a positive, confident outlook, as they need the funding to be successful.
There are no real, tangible grounds for any confidence in this project in mining terms, purely in the perpetuation of a very easy life for Budge, and now, Ulla.
Eric,
Almost a year since the concession was granted. The plain fact is the concession on it’s own, whilst essential t9 the process, on it’s own it has no value. The SP proves that.
Budge talks of inflection points. They too have no value, although Budge still likes to say they do.
The only way the SP will show any sign of life is for the company to be sold or a partner for Kallak to pop up.
Selling is not an option, as Budge’s perpetual gravy train would hit the buffers, and he won’t find another job in mining.