The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just checking in, I see Keith is still missing in action with the DFS still not declared….problem for me is I might need to step out of this share now until I get some more money back.
VW is a great company but ultimately we have to remember it is also a dinosaur. I’ve worked for some really big companies and they are less agile than you might think or hope… hence why Tesla stormed the show many years back..
Not the greatest car but everyone knows Tesla as a company. Remember they hardly advertise yet sales continue to grow.
We will see how we get in, I might step out and buy back later in the year.
Jiff, I tend to agree.
I’ve started to think this has been worked down for a reason.
I might be wrong of course but it really doesn’t take that long to reassess the DFS especially if you have your finger on the pulse!?
If it isn’t why not ? It is very important!
Let’s be honest none of the timelines have been followed so why try and make it accurate.
A £1.50 bid would not look too shabby when the share price is 0.55p.
The price is cheap but it is only worth something if we can actually do something with it.
I’m not sure the OTC listing is what was what is going to be inked.
It is most probably something else.
I just think he should really be focused on business matters. Even if it meant sleepless nights to reassure the timelines.
SMS must know how far away they are from completing! If they actually still doing it I get the feeling another company is also compiling the data side by side with a preference from CEZ
Let’s be honest Keith’s priorities are all wrong!
He went to Europe to do what ever he did and then came back to do a trade show in Australia.
Now he is putting us on a different trading platform. Ok to raise awareness! But why we don’t need it at the minute he has millions in the bank at the minute.
His priorities should be getting the timelines accurate and everything on plan not standing in front of some advertising boards telling the limited footfall how wonderful the earth in the ground is.
I think BHP are absolutely spot on with their assessment.
When you consider that at the moment we have a sweet spot for pricing and probably for no more than 10 years. Then we will find the industry is not short on supply.
Two reasons: one a large amount of mines have come on board to supply the demand and second we will start to see battery recycling where lithium will be reused.
We also have to consider Hydrogen, this is not a case of if it is a case of when. We will see the cost curve come down and the economics change too.
So when you consider EMH they have been messing around for the last 3 years and achieved nothing. If we don’t start building in the next 2 years then we of course will have a market but the PFS figures will be very realistic if not ambitious.
Daveri I also emailed Keith over a month ago and got not response either.
Maybe we should have a vote of no confidence in him.
Aren’t we expecting a VW announcement soon? We need something from someone at sometime. If you notice the announcements generally have dried up for the last 6 months.
The article the other day suggested that the DFS would be 1st quarter 2023 - we will see
So…
I’m going give my view not that it matters much.
In the shareholder agreement their was a clause to do with agreement on how to process the lithium and with the decision to mine off memory and if there was a stalemate then CEZ would have the opportunity to buy the 49% at market value.
I’m thinking we will either start to see this kind of play or alternatively we will see a take over bid by CEZ.
I just feel it has been too quiet with timelines stretched there is no doubt the Czechs want this in there hands in my view
Keith has been very quiet on many fronts and has recently raised a lot of money. For what reason?
If this article is to believed then potentially many years of work has been wasted.
Any thoughts or am I on a different planet?
Jonesy64 - the DFS was announced to be starting at the time of CEZ taking a slice end of April 20, it was also stated as taking 18months approx, SMS were then announced as putting the DFS flow together (turnkey) several months after.
So if you consider first announcements we are at month 23.
If you ignore the first announcement and go by the SMS announcement then we would be at month 21 today approx.
It was announced that it was unaffected by covid however recently it was announced it now was.
So if you consider the above points and assume it has been delayed by 3 months then it is due anytime.
But don’t hold your breath you will know when the share price starts to increase.
Tsibis - I do tend to agree with you here.
My optimism got in the way of reality; The DFS has already taken 23months, despite an 18month timeframe. The funding needed to be in place by July 2022.
SMS are supposed to be top draw and more than capable so why the delay?
Both of these are now later this year, apparently.
The offtake was meant to be 12months ago!
I cannot help but feel that the management have no clue in how to get the business going.
Alex, i have asked myself the same question on DFS many a time.
It is stated as 18 months, i did some research on the matter last month and it really depends when the DFS actually started. The company announced when it was bought out / 51% of it was that the DFS would start. It then introduced SMS to carryout the Study end to end turn key etc and stated it would start.
So if we went off the original announcement it would be complete this month approx ready for release next month. However if we went for the SMS announcement it would be April for May release.
We need to keep in mind that it was also said that the business will also need to raise runds in July 2022 so the DFS cannot really afford to be late.
My concern here is in nothing has moved on and why would you release an updated PFS, when a DFS is around the corner. But since all the time lines have never been met including the offtake Q1 2021 then it is an unknown quanity.
I have to admit i am fast losing patience will i regret it who knows
Hmm… what to make of this well!I cannot say I’m impressed with it, a few extra numbers added due to market conditions, more capex, no news of The mysterious DFS and a fundraising at no real premium when we didn’t need one apparently.So when will we get the DFS that was due over two years ago?When will we get the offtake? It seems like we are on one big roundabout.Don’t get me wrong I am pleased our value has gone up but….. what, when, how and with who???
Tsibis, you are correct in one sense. In the absense of news it is perfectly rational and logical to think that the price will drop until closer to the DFS publication. However as we both know news can land any time and dispite shared frustrations with the timelines and little transparity around the timelines it is hard to make a correct prediction.
We all share the frsutrations of seeing the share price hitting an all time high and then dropping substantially, the fundamentals have not changed the question is have the timelines and that is what we are all unsure of.
Major Oak, i have been here that long too! We should of been well on our way by now.
My only concern now is if VW are not making a decision on the Gigafactory upto middle of next year then Geomet, could become a bargaining chip.
I.e they will hold off selling off the lithuim elsewhere because they will need some for VW to encourage the gigafactory.
All the timelines have been removed from the presentation making it difficult to remember what is due when especially this mysterious DFS.
I will put the question to EMH.
Reading through the comments:
When you run a business in theory you should be an expert in that field.
I don’t see why VW would buy a mine, because they are not experts in this area. They want the product, they want the batteries but ultimately want to build the cars which is the field in which they are excel at.
It does make sense however for VW to work with a major player like CEZ, this gives them more reassurance that the supply will be secure than if it were to deal with EMH a small unknown (to them).
My only note and pointer is that Keith indicated in an interview that he had heard about discussions taking place with Skoda but hadn’t been a part of the conversations this makes me wonder why?
If I had to put money on it we will be bought out soon after DFS.
Nice interview... but more can kicking.
Off take expected 1st quarter nope
Off take expected 1st half nope
DFS completion by end 2021 nope
Production by end of 2023 nope.
Don’t get me wrong I’m heavily invested here and have been for many years but it frustrates the life out of me when people say something and don’t deliver.
I cannot wait for this to finally take off.