George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I'm not talking about approval of the deal but in reality it shouldn't take more than six months to sort out a ADM document. Normal practice is to then publish , relist and then wait for approval.. The first extension to 9 months I could except but the last 3 month extension taking us to 12 months is just a poor excuse and I'm surprised the nomad allowed it. Basically in my opinion things are not going well and they are just using it to delay the inevitable bad news.
I do hope they manage to perform some mimical and it isn't bad news but I've resigned myself that it isn't going to be good news on or before the 15th December and if we relist I'm expecting to be down 50% on the day e.g 13p.
As bad as that may be at least it would give me the option to sell up and reinvest what remaining capital I have left from this investment else where as I no longer have confidence in this company.
I personally think the shares need to be relisted even if the deal still hasn't been approved. I personally think it’s wrong that a company can suspend their shares for 9 months and think it shouldn't be allowed. I personally think the longest any share should be suspended should be 6 months which is more than enough time to finalise a deal and publish a admission document. After this trading should resumes even if it take another 6-12months for government approval.
I get the impression that some people don’t look at the bigger picture and its not because someone is dumping SAVE shares specifically but the whole oil sector is down.
If you were to plot SAVE share performance against SPOG (oil and gas ETF) since the 1st January this year they are extremely correlated and SAVE has only out performed by a few percent.
Think SAVE has potential to continue to outperform the oil sector in the future but I’m under no illusions that the oil and gas sector may continue to decline for the next few months depending on the macro outlook of recessions that are highly likely.
Everyone needs to make there own trading decisions but quite often they look to blame other people when price doesn’t go as hoped. I’ve made my own decisions and have no regrets selling approximately 50% of my holdings near the recent highs(maybe this was just luck). I fully intend to buy back in but I’m waiting for the oil sector to finish declining as I believe that will have the biggest influence on SAVE share price in the next 1-2months.
This will probably jinx it but haven’t had a daily gain like this since just after we resisted and previously to that the day the shares were suspended. Days like this always make’s me think someone has some inside info.
Wasn’t expecting Only 19p and thought we would have got at least 25p. Thankfully it’s above my average as I averaged down 9 months ago. Might hold onto the shares for a few weeks as I think there is a 25% chance of a higher hostile bid of approximately 24p
Cancelling a flight is no big deal probably means less people required on the rig. At this time of year gettiing an extra helicopter flight can be difficult so they probably booked two just in case it was required. My gut feeling is maybe there isn’t a suitable weather window for the hook up for a while so they will have delayed certain personnel traveling to the FPSO as they won’t be required yet.
As for the Grampian dynamic it’s the standby vessel. No helicopter flights are allowed to an installation without a standby vessel being present. So it’s makes sense that it’s heading towards the FPSO as without it there won’t be any helicopter flight.
Just reviewed presentation and RNS. They mentioned about 3 weeks ago that it was commercial to put pipe line into well LMB-1 but looking at the map LNS-1 isn�t a big detour on the way to that well e.g. new pipe line only needs to be about 27km to LNS-1 and another 15km to LMB-1 can almost draw a straight line between existing pipe line to the two new wells. This make this well even better as ther is minimum increase in infurstruct cost than they already have planed. 😍 Adrian