George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Ab76
“although it should still eventually pay for itself; but it’ll be over several years”
Surely you realise that this is in fact highly unlikely? You really need to stop accepting everything that TRIN says as gospel. Has the last couple of years not taught you to take TRIN pronouncements with a very large pinch of salt?
A lot of shareholder value has been destroyed and a lot of the potential that TRIN once had has evaporated. Not sure that folk really get that - I think they are kidding themselves about how profitable TRIN is going to be in the future. When the share price was in the 100s, the 200s or even 300s still seemed possible. After watching the BoD waste all that time and money over the last couple of years, I am now struggling to see how the share price will ever get back into three figures. I don’t think the executive directors deserve to still be there - I do not think they are the right people to unlock whatever potential TRIN has left. If they are going to hang around I will be taking the first decent exit that I’m offered.
It’s a no from me - 202,000 shares.
Should we be thinking about what we could do with a Written Resolution? I would imagine that the “No” total will reach the requisite 5% soon enough.
Marineclark
"Over 290 feet of net oil pay encountered in the Jacobin well"
I think you may have the wrong end of the stick.
The company has indeed stated that over 290 feet of net oil pay was encountered in the Jacobin well, but that was in total - only 63 feet of that net oil pay was encountered in the deeper exploration targets.
The shallower net pay has no transformational potential and while the deeper net pay could have this in theory, two of those three deeper zones have already failed. LC1 is the last chance saloon both for Jacobin and this BoD.
It is currently very hard to see where the balance of risk and reward lies at the current share price. Does its recent dip signify that someone knows something? Who knows?
In a similar vein, the IMC presentation saw the first mention, AFAIK, of the problem with LC2. The share price is where it is because all this leaves folk wondering, rightly or wrongly, what they are not telling us about LC1.
“further sand production issues were still experienced”
Good point - that is worth comparing to the story they came out with later, in the IMC presentation. Failing to get their story straight destroys trust.
No point champing at the bit - we know from the recent presentation that the way forward for C-77H was not clear cut so it is still probably a waiting game there. The real question is whether we are genuinely making progress on a JV and whether that progress depends on how things go with C-77H (we have been told it does not, but I am a bit sceptical about that).
I at least hope to see an RNS this week stating that the sand problem has been cleared and that testing is back underway. In any event, silence would be unacceptable and would show that, despite their rhetoric about better communication, they have learned nothing.
ShortShrift
The original RNS is pretty clear:
“ The workover program has been modified at the request of the Directorate of Hydrocarbons ("DGH"). The revised program calls for the removal of the production tubing and milling out of the bridge plug that currently isolates the original four fracked zones from the two currently producing re-frac zones.”
Not their choice.