George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Aha. Well observed!
I am a shareholder here as of this week, again. I think the timing is just about right, but I never get the lowest prices.
Good afternoon Jimmy.
I've just listened to the March Loukos Pre-Drill webcast. Very succinctly delivered by Duncan Wallace.
Regarding the Loukos acreage, some troublemaker over on the other bb has suggested that this is a "SDX cast-off", rather disparagingly. I am assuming that SDX did let this go, but can you confirm that, and why didn't SDX make a success of it, if indeed this is a low-risk play, as Duncan (and you) suggest?
As well, I know you have made mention of a possible 1Tcf resource potential at Loukos, with drilling success at the deeper sands. But CHAR make mention in the webcast of just 100Bcf+ (page 8), and this being a longer term opportunity. So I'm thinking this will not get drilled in the 2-well drilling program this Summer. Am I right in assuming that? And why the 100Bcf-1Tcf difference?
ATB.
Cj62,
With respect, go and read up on FDA Clinical Trial phases and what each phase is meant to verify.
Doh.
Politicians rarely keep their word....
I don't get it. SENX is seriously cash short if it wants to deliver any sort of incremental growth in either Romania or Tunisia, even forgetting about its Angola exploration opportunity.
Sounds like we need confirmation of a sustainable recovery with Q2 metrics reaching all time record levels. Just reaching previous peak levels again isn't enough to convince Mr Market.
Who is "Tobin", anyone?
I take it you hail from the country set. Nothing wrong with thast, and I love horses too, but the Aintree circuit has been a notorious deathbed over the years.
A total of 65 horses have died over the course of the annual 3-day meeting since 2000. I just checked, and thankfully no horse was put down this running of the Grand National. But 2 horses did die on other races this time round.
So, Ian, eat your heart out this evening, but say a few prayers for the horses who came to an untimely death, for the sake of money and power. And respect other people's opinions before lambasting them for not agreeing with your own way of life.
Instead of watching the annual slaughter of animals live on tv at Aintree right now, I've been getting up to scratch on CHAR starting with the December 2023 podcast, and your musings.
Inevitably, I'm comparing CHAR with PRD. MC of £100mn and £60mn respectively.
With the Energean cash terms for Anchois, assuming that project gets the green light, there is a significant embedded value of around 6p/sh. So the remainder of CHAR's business is being valued by Mr Market at around 4p/sh. If this is just for Loukos onshore alone, it suggests a large valuation mismatch if you believe the chances are good of eventually making this a 1 TCF deposit.
And in quicker time to cash flow generation than PRD at Guercif, given the way drilling and flow testing has (not) proceeded in a timely way so far, and the order sequence of rig availability this Spring.
Plus a size seller has now been taken out? And fully funded through to first production at both Anchois and Loukos.
Looks very interesting once again, especially with a reputable, entrepreneurial JV partner for the offshore project (and the same ownership interest as PRD for their onshore acreage, 75%).
Jimmy and BRV,
Thank you both for your excellent, objective contributions here.
Sensible analysis, devoid of heroics and subjective manana possibilities.
The drill will tell all, hopefully very shortly. In the meantime, the opportunity opens up to CHAR to share the limelight in Morocco. I wish them well, though my money is invested solely with PRD.
Manica was a dumb purchase in the first place. I totally agree. That's why I was negative on XTR under CB's leadership whilst others got caught up in his fantasy world emerging gold producer nonsense. Seems some folk still cling to that idea.
The best, and only, way for CB to reestablish his tarnished reputation here is through drilling success in Zambia, his home turf, as it were, where he has had a previous commercial and geological win. Bushranger I put on the backburner, dependent as it is on sustainably higher Cu price than we have today, although the signs are looking much better, with the recent metal rally.
All other possibilities require(d) extra cash that XTR doesn't have until the Manica sale (thank the lord). Has any of you seen how desperate it is out there in AIM-land to raise fresh equity capital via placings? Are you lot happy to have funded a next capital injection at Manica at 0.5p/share? Cloud cuckooland investors we have here.
Over to you, now, CB. Deliver the Zambian drilling schedule.
You mean a gold mine which doesn't need a huge upfront capex requirement in order to build future revenues at scale...possibly?
Accepting that Guercif might be "Leviathan2" as someone well known here calls it, I still don't get why MOU1 and MOU-3 haven't been flow tested, even using sandjet tech equipment, well before now, to establish proof of concept and initial cash flows to develop the license more thoroughly. Oh, and without this constant nerve wracking license termination issue.
Might be a useful metric for AIM companies to rank them by MC/Directos' salaries.
In JAN's case, it is around 14 times. i.e in 7 years' time, their salaries wil have wasted the entire valuation of the business. Assuming, of course, that Pitombeiras doesn't come to anything substantive in that time. 4 years and counting so far, tells me it won't under this management.
Up 13% today, with just 19 posts here.
I like the lack of noise so far.
Starbright, of course you know the answer to your own question.
But given the data presented relates to a Phase 1 Q3W emprical data readout, I'm puzzled as to what else you were hoping for/expecting.
The clocks ticks on, not fast enough for traders, but grinding forwards inevitably for LTHs.
....as long as the free cash flow isn't swallowed up in exploring/developing new resources, which in time throw off more free cash flow, which is spent on developing more resources.......
Agreed. So why are we sending a second bulk sample to China?
@Ben,
The ink from signing the JV agreement with Oval has only just happened.
If you follow a similar time line for Bushranger from the initial project MOU through signing the JV and then onto first drilling, you had from June 2021 to end October 2021, and another 6 weeks for first drilling to take place. Clearly, there was much detailed analysis by his team of available prior mapping and drill intersections, to hit the ground running 6 weeks after signature. After that, you know as well as I do that XTR's PR trail went into overdrive (with "News" commenting regularly on each hole's importance).
I would like to think that a similar degree of geological analysis of past results has already been undertaken at Silverking, resulting in a similar 6-8 weeks wait from now, for the drilling programme announcement, and start up. We'll see.
The general UK downbeat retail sentiment is holding this down, as commented on this morning on BBC Radio 4 Morning programme by a CBI rep.