George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Impecunious2, I agree that 6 percent does seem like an excessive amount. The RNS stated that Turner Pope were joint company brokers on this so how much did our other joint company brokers SP Angel get ?
FFS Mapp, give it a rest or stick to OMI.
Jackbal, I'm not suggesting the rhymes are hurting anyone but they add nothing to the debate and are all in a similar vein.
Mapp
Do you ever contribute to these debates? These nonsensical rhymes are irritating.
Enough of all this bitcoin talk as this is after all an OMI site.
The federal reserve in America is predicted to make several interest rates cuts next year which will have a very positive affect on the gold price. As the forecast is for interest rates to keep falling next year and beyond then the gold price will go on a sustained run and we will see a long overdue confidence return to the junior mining sector. We now have a balanced portfolio of projects that can be progressed at a sustainable pace and if we can get a good result with the JV then we might just be coming good as the whole junior market is in rapid recovery. I'm confident we have ridden out the worst times and look forward to next year to ride the recovery.
Kylie
I feel your frustrations however one must give credit to the remarkable effort and skill displayed by Graham given the precarious position the company was in when he took over the reins. Although timescales have not kept up with your personal expectations does not mean that things won't work out in the end.
If you look at this strategically then Morocco is desperate for energy and we will soon be at first gas /LNG. We also own the trench that is expandable and the only route in the area to get pipeline gas into the European gas network. We are at the point of being within real touching distance of success and in my opinion we are now more likely to succeed rather than fail. The rest will look after itself even if the timescales take longer than expected.
Breaktwister although I initially fully agreed with your view regarding Nigeria and on the surface it would indeed indicate that Brad knows something really positive that he has yet to announce. However, these things may not be related as the Nigeria negotiations have most probably been taking place for the past year prior to us reaching the stalemate on our Anza JV when the outlook was far more positive. Perhaps Brad is growing our portfolio for one of the following 3 reasons:
1 To make us appear like a bigger company with more investable prospects.
2 Having more activity to report to deflect from the stalemate in Colombia.
3 If Anza is bought out entirely then he has other projects to play with that might still yield the motherload.
Or perhaps he may unleash a completely different scenario bombshell that none of us expect.
Breaktwister, Brad also stated in the Webinar when was pressed on the JV that "we were closer to the end than the beginning" which would indicate that no resolution was imminent especially when considering the lengthy time period of negotiations it has already taken to get to this point.
Kylie regarding your comments on the pipeline,you must also factor in that due to the trench width then there is clearly room for more pipeline capacity when future expansion is required. We must also remember that there is a real possibility that any future discoveries along the pipelines length will result in other companies needing to use the trench in order to get their gas into the grid system which could be very lucrative in monetary terms. Given the Moroccan government's hunger to expand gas production then holding the only route to the grid is extremely strategic to these expansion plans. Regarding your frustration with funding then as you might appreciate these things tend to be complex and due diligence takes time but regarding Graham's competence in this area please remember that when the company was staring at oblivion, Graham was savvy enough to resolve the bondholder issue and the tax demand when these issues had the capacity to make us insolvent. So let's give Graham the benefit of the doubt as he surely deserves some credit here.
Kylie can't agree with the view of comparing JP to Graham.
Graham inherited a great number of obstacles that had the potential to bankrupt the company. He has diligently steered SOU past these obstacles to the point that first gas is imminent. Considering the amount of ducks he has managed to align to be in this position is nothing short of remarkable and to now slate him because he has not delivered everything to your expected timescale is not fair. Yes there have been milestones missed or timescales drifting but ultimately Graham will end up delivering proper future shareholder value and most of all stability. Comparing all this to JPs tenure is an insult to Graham's achievements.
One positive is that first gas is only a few months away.
https://www.moroccoworldnews.com/2023/05/355323/sound-energy-to-start-delivery-of-liquefied-natural-gas-in-2024
My average is 3p, the same as it was a good while ago. I decided not to lower my average and chase it down to these levels however I'm still confident in this eventually coming good and if so then It will surpass my average so happy days.
Chickenlegs I'm more concerned about some of the major parts of the agreement such as the 90 days being described as now being meaningless. If we can't trust the partners to abide what has already been agreed then how can we trust them with what's being negotiated now.
Zapsnap I totally agree regarding Bhargav. He has attended AGMs, posed questions for webinars, spoken with Brad and has written to him on numerous occasions plus being a long term holder. He is as informed as anyone on this forum and is entitled to be frustrated.
Rob in response to your post I'm throwing this out there. Does anyone think that our Anza partners are stretching out these negotiations purposely?
On its own and on the face of it, this does not seem unusual but when you couple it to the constant missed deadlines and the complete lack of information being given to Brad then we all know the SP has little chance of recovery the longer this persists. Is it the hope from our partners that the closer we get to the year end without any real news then the closer we are to having to do a raise not only to support our interest at Anza but our other projects also.
As I've seen before, a low mcap with no news flow and having to contemplate raising extra funding not only causes dilution keeping the SP low but also puts off institutional investors and makes borrowing money a whole lot more expensive whilst these issues feed on themselves.
There appears to be significant advantage for our partners to keep us at this position to possibly affect our ability to gain some yet to surface advantage in phase 3.
I'm not a conspiracy theorist but something is not right here and it can no longer be blamed on COVID or other convenient excuses .
Ageos, Royal Road are not just concentrating all of their efforts in Columbia. They are also going for Saudi Arabia also.
https://www.royalroadminerals.com/news/royal-road-enters-into-strategic-alliance-and-non-binding-letter-of-intent-with-msb-holdings-ltd-for-mineral-exploration-in-the-kingdom-of-saudi-arabia
Ages perhaps you should send this to Brad
It takes seconds to post a tweet. Would have been nice to have had a brief daily update of the conference but either not much happened or they could not be bothered.
Yes Dr the twitter account is a wasted opportunity
I suspect negotiations have been going on well before the ending of the last phase and longer than we have been made aware of. Although it is totally frustrating for us shareholders as deadlines have been missed and phase 2 is on hold, we must not forget that the asset must be quite substantial and worthy of the amount of the deep scrutiny that we are currently seeing. Although they won't release details of their squabbles, I suspect the biggest part of the problem is that our partners have not been sharing the whole picture with Brad regarding the data as Brad himself has alluded to this very frustration recently. I'm thinking that the asset is a lot bigger than they first thought as I've seen no desire of the partners threatening to walk away at any time and why would they if it's a potential tier 1 prospect. Also the fact they are discussing issues that may play out in phase three tells us all we need to know regarding the future longevity of our partnership. How long all this takes to transform our share price is another matter but I'm confident it's only a matter of time.