George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
You can’t go fishing without bait.
Maybe they are bottom fishing.
Unless they can come up with some very good money earner I don’t really see much of a long term future here.
The AD plant business is a waste of space imo.
Decreasing margins, increasing costs.
The company we lent £1.2 million to is insolvent so repayment is very unlikely.
Given the so called experience of the board the last four years have been nothing short of a joke.
It can and should be turned around with more cash arriving soon.
However, I have my doubts given their track record so far"
I think the problem is that they did, however, they could not wait on us to get our Ruvuma monies so any deals have either not happened or the business has been done with another party.
Should be interesting what the board can come up with next to bring fast income into the company.
If they can at all.
The current market value values the AD plant business at nil.
The only way to get the sp moving in the right direction is to do a much larger deal that generates a lot of income and profits quickly.
We spent a million on legal and professional fees last year alone.
For a virtually dormant company that takes some doing.
They have sold the last of the legacy assets and have cash coming in.
This is now their last chance to rectify the situation.
If a further change of strategy is required so be it.
The board screwed up the one dyas deal and they have certainly done the same.
All those years with probably $20 million spent since 2012 and then when near to production they sell out for peanuts.
Total incompetence imo.
But all done now and so we look forward to next installment in this long running saga.
Good morning Chris.
Awaiting the next decision by the board.
Imo the AD plant business is a waste of time and money and with electricity generation prices falling not very profitable.
Interesting weeks ahead.
Very strange that although the deal has completed and the first tranch of cash is in the bank the sp has barely moved.
Hoping that the next rns is a much larger deal that brings some profits into this company.
I would think that shareholder participation will be required.
That could be the tricky bit as the board have upset so many shareholders and lost them a lot of money as well.
It will be interesting what their next move is.
Imo they have had plenty of time on their hands waiting for the deal to complete and the first tranch of cash to arrive, I dont think we will get a one dyas size deal but one that requires shareholder participation and starts bringing in a lot more cash than a couple of AD plants.
Maybe even buy another business with ready made income.
Shouldn’t think that long to wait, weeks not months Imo.
They have the crown jewels and we have not even recouped our expenditure for the last 12 years or so.
I was of the asumption that in a deal like this past costs get reimbursed. We have spent countless millions long before they came on the scene meaning they had less to spend getting to a drill ready. Im sure the money we have spent on seismic etc has come in most useful to them at no cost to themselves.
The cove deal that was for about 8% of a potential 60tcf gas field for over a $1 billion makes our deal look stupid. To think that was years ago and the gas field is still not producing as far as know.