George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
I know talking about the fundamentals doesn't mean much according the SP but to add some context here:
1 week ago our investment value was circa £5.5m and our Mcap was roughly £3.25m
move onto today and our investment value is £7.3m (an increase of £1.8m) and our Mcap is £4m (an increase of £750k)
At the time or writing we are valued circa £3.2m below our Fair value. Or to put it another way we are valued roughly 55% of our investment value.
What had happened before was that the BoD included the original £2.35 investment in SGSC in its non current investments. Obviously the fact nothing had happened with AZ1656 the market had written the investment off (and fair enough at the time). So we were technically valued below fair value. I thought, like others that now we have a value we can attribute to the SGSC investment and that is now live the market would then price that in. But looks like the market still aren't convinced. Its astonishing as many will have seen stocks like MODE (R8) did multiple of their SP in a day on nothing but a rumour and terrible fundamentals. We have factual values and zero debt yet we can't go up more than 10%.
I think you are right Deacs but that is also the problem with VELA SP being so low. it has not risen to anywhere near fair value yet if CDT dropped VELA would also drop.
Mcap - £4m
Investments Value - £7.3m
(at time of writing)
CDT has had over 2m shares traded over the last 2 trading days. I would personally like to see an RNS from us stating they have sold some shares while the SP has been over $5.
Yeah agreed. They will have been selling something for a loss unless they sold some TRYB.
I also agree they will not have anything to do except monitor the CDT price moving forward and selling when they deem appropriate (we are still unclear on the overall strategy for this). Hopefully Emma is voted out today as I can see no point moving forward why we need 3 directors to do effectively nothing. Save the company a chunk of change every month.
SP largely moved so far today, sounds about right.
I agree. Great volume in CDT as well today. You would like to think we have sold some into this rise but you never know. I don't suppose the BoD will be able to say anything about selling at the AGM unless they RNS first. I can't remember who mentioned it but I agree with the strategy of offloading our initial investment (£2.75m) and leaving the rest in CDT to hopefully increase further. What they do with that cash is for another discussion though.