George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Ha ha yes it's wearing a bit thin isn't it Jed. Much as I recognise the importance of local engagement I want to see that reflected in local support for EUZ starting with the grant of the Antonina IP plus a successful MLA for the JV. Also 044 assays are way overdue, never known them to take this long.
Perhaps more bang for your buck with PI? Quite possibly, however it's a numbers game and they had 15 PII candidates lined up for low cost deepening. As recently as May this was to happen in parallel if that is no longer the case I would still like to know why.
Cheers bitsas perhaps they could clone Guram. You're probably correct re. funding, though while I think that might account for PIII not getting off he ground they were talking about funds being secured to accelerate PI & II as recently as the May Final Results. Perhaps as Chesh says the A80 will get fired up and we'll all be wondering why we ever doubted them :)
Well there's no getting away from it this is certainly a disappointing reaction to the update. I do think the management has a lot to do to restore trust and it doesn't help when they don't deliver on promises. This time last year they were supposed to start PIII before end of 22 and now PII which was supposed to advance in parallel to PI has gone off the radar. The market doesn't change my opinion that the update represents progress but the Board need to think carefully about what they promise and if it can't be delivered explain why, it isn't good governance to just not to mention it, do they think nobody will notice?
I'd imagine yiann mainly because they finished testing WR-B01Za early in April, but also I hope because there was generally less maintenance and shut-ins across the licences. At least this wasn't mentioned as it has been before. I see Guram Maisuradze got promoted, I had wondered if he might have pulled a rabbit out of the hat with WR-B01Za as it didn't really go to plan but still got completed as a success.
I haven't commented on a certain persistent theme on this board yet as in my experience genuine investors can't win a debate online - consider two scenarios - BLOE struggles = poster gloats - BLOE succeeds = poster disappears. I would gently suggest that other posters recognise that the motivation is obviously vexatious and devoid of real analysis so why get involved? All I would say on the daily assertion that the SP tells you all you need to know about BLOE is that I strongly disagree. The stock market makes it's judgement on the current valuation of any given company but it is not infallible, think about it, without undervaluations there would be no investing opportunities and without overvaluations you wouldn't have shorters in the market - it's an imperfect weighing mechanism that creates chances. I'm not saying the current SP is entirely unjustified, there are short fallings with the company that I'll happily face up to but it isn't the whole story and personally I think the potential upside is massive. Anyway don't take my word for it, “I contend that financial markets never reflect the underlying reality accurately; they always distort it in some way or another and the distortions find expression in market prices.” (George Soros).
I can't imagine anyone defending the greed of our Directors but by various means they've stuffed their satchels full of BLOE stock and as such have a strong incentive in improving the SP. Despite what I think about the remuneration and other win win mechanisms they've set up for themselves I am a firm believer that the strategy of gradually building production is currently being vindicated and that we're at an inflexion point in terms of valuation.
Haha enjoying this while we wait but I guess the most important thing about the location of KRT45 is whether there are any commercially extractable hydrocarbons underneath it :) Still as we have two distances quoted from BLOE from two separate known locations it should (as Chesh says) with the right map, be possible to triangulate the exact spot. Hopefully we'll be talking about the actual drill soon.
Heps I'm sure the majority understood what you meant as obviously Google Earth doesn't update live. If bitsas does have access to live satellite feeds then it would certainly be interesting to know what stage the pad is at currently. We seem to have two descriptions of location in relation to other mapped wells so if anyone can collate the two it should be possible to put a 'fix' on KRT45.
Oh that's interesting astec I was a bit sceptical but remember now it was a poster including 'Tbilisi' in their name (not Rustavi) who told us that JSR-01 DEEP was only producing water. Not saying the 'Tbilisi' poster was being deliberately misleading, could have had some bad information or it could have been problematic completing the well, I don't think they've posted since though.
I suppose it depends whether the pad is prepared and rig assembled or just civil works complete but they still have to do the Meccano bit. PH did seem to be suggesting that the rig was in the vicinity on the 8th so it seems feasible that they could be ready.
Don't quite read it like that yianna, the 8th April 21 announcement is related to options granted in lieu of 40% salary, are we looking at the same RNS?:
https://www.lse.co.uk/rns/BLOE/issue-of-options-and-shares-and-pdmr-dealing-zxfx645h73km6hg.html
Don't get me wrong I'm not happy about everything here, particularly the remuneration which is just ludicrous given that we are still only on the cusp of profitability but I feel we could soon start seeing the rewards for the cautious but also canny strategy. I thought PH's recent comments on the later PI wells having higher impact on reserves was interesting. So often you see junior explorers approaching things the other way round going for the moonshot drills with the aim of hitting big reserves with a view to selling the assets. The BLOE approach of incrementally increasing production with low risk interventions and thus cashflow has made us a stronger company despite the executive greed. It has been a frustrating journey particularly with the shut ins and maintenance but it seems we're getting there and could soon be in a position to go for some more eye catching targets. The gas plays are likely where transformational discoveries lie and with gas being the obvious bridge fuel in the energy transition action on this front can't come soon enough IMO.
Guess there's not a lot to be said until Bloe report some action on the ground or perhaps Q2 results first? Even a Tweet of the civil works at KRT-45Z would be appreciated while we wait. I tried to get in touch by phone (doesn't seem to work) and email (no reply), has anyone ever got a reply from 'info@' before? Even tried their Communications Advisor - let's just say the response was ironic in so much as it amounted to zilch. Good to see a decent buy yesterday is about all I can muster.
Sure makes sense, is the next PI a re-entry of KRT-39? Can't find where I got that from now. If it is that could be 30k's from the SW area of the Patardzeuli field where PII is concentrated. So yes I also can't see any benefit from deliberately running them in parallel. Why it has to be a guessing game though.....
Heps as I mentioned the other day do you think there might be beneficial synergies in having the two projects running in parallel? In other words are they in fact waiting to start the latest drill on PI before kicking off PII. As an O&G layman I can't think what they might be, for me logic would suggest there is zero disadvantage to cracking on with PII before starting PI but the fact is they haven't - is there a logistical reason? Simple question really, wish there was someone to put it to.