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Just been reading yesterdays posts. The thought that we are owed £2,9m with no repayment date set simply beggars belief. Why would ALBA do that? Seems madness to any normal person. As for the £16k nugget, whoever bought it didn't pay £16k it was a lot more than that, there will have been a substantial buyers premium payable to the auction house.
This is the profile of one of our directors, why did they have to bring Mark in with this bloke already there?
Michael C. Nott, BSc, MSc, DIC, FIMMM, FMES, FIQ, C.Eng., is Non-Executive Director of Red Rock Resources Plc. He is a geologist and mining engineer by profession and has 35 years’ experience in the mining, minerals and quarrying industries. His early career was based in Zambia including nine years with Roan Consolidated Mines Limited. He was a regional manager for Pioneer Aggregates (UK) Limited, then an Australian company, and later a director of Jay Minerals Services Limited and Hills Aggregates Limited, becoming trading director of ARC (Southern) Limited and production director of C White Limited. He is currently chairman and managing director of Alba Mineral Resources plc and a director and CEO of Magyar Mining Limited.
What could they say newlunar? Well they could acknowledge the e-mail for a start, they could refer you to the RNSs, but just ignoring shareholders is not good enough. Your second statement is correct, but the share price did in fact increase because of all the positive promotion George and Mark did, that is hardly no reason. They haven't produced one gram of gold in all the time they have been there, despite hinting they were going to hit it large. " excited " " chomping at the bit " " confident " were all said.
ALBA Lists 7 directors
George, Mark, Liz, Lars, Michael Nott, Ben Harber, Feroz Sultan. Not one of them has bought a single share in over 2 years, although 3 of the directors are fairly new. I would have thought at least one of them could have stuck a few quid in and join the shareholders. Would give a confident nod to the market. Just seem happy taking the money, wonder what some of them actually do?
I don't expect daily increases CantClough29, and I also don't expect it to drop every day, but that is what it is doing, and has done for 3 months, 3 bloody months! It will turn at some point but from what price I wouldn't like to speculate. Lots of players have caught the falling knife here, me included...But...the right news while set this back on the right track. Dare say some have sold out from 0.48 to 0.25 but they are watching. Once we see some sustained buying of large amounts, that will be the clue to pile in. It's currently in nightmare territory, but over the years I have seen some remarkable turnarounds, usually a day or two after i have sold. Current MC is not a true indication of our assets i suggest, just have to hang on until things change, they will change wont they?
GF came out with what could be best described as a positive update yesterday. Fair to say that nobody believes him if the share price is anything to go by. Sells continue to push us lower despite some decent buys which are met with even bigger sells 7m 5m and others. My mind hasn't changed about the reasons behind it, but where this is going to end up is anyones guess. It needs to change certainly by next week or we could be looking at the teens. I have money to top up and bring my average down, but need something more tangible than words before i do.
OK....
I was only saying what was implied by GF and Mark to a lesser extent. I don't think anyone would argue that they gave out very positive vibes. I actually remember posting that he does seem confident doesn't he? Also...Would he really be grinning on screen if he wasn't at least pretty certain that they will hit gold ( they may still do that ) leaving themselves open to ridicule.
I think healthy discussion is a good thing. How many of us have bought shares primarily because GF implied that ALBA was going to be a huge successful company? We had television, press coverage, RNSs, podcasts, social media, and GF did everything possible to promote this company. We believed that any investment here was in safe hands. I for one was seduced by it, and i'm a seasoned investor....We can only act on information which is being fed to us by the company. So am i disillusioned? You bet I am.
2 possible explanations why Ms Henson or her high roller clients havn't bought a share since she arrived, same can be said for Lars. They either don't believe in the company and are just happy taking wages. Or they intend to buy shares should/when a placing take place. Would give the company and us a big lift if they actually invested some money in the company. Not one share has been bought by directors in over 2 years.
It would take a lot of looking to see a worst 3 month chart than ALBA. It is just endless the drop in price day after day. However...Volume although millions is still well down on other days, haven't seen the consistent 1m sells ( yet ) . This may be coming to an end, have said 25ish for a while. After George put his head above the parapet earlier today, did I sense he wasn't his usual chipper self? Normally an appearance and words like that would please the market and we would see a bit of blue, but as others have said " show us the gold ".
When this turns it will turn fast, there were some decent buys yesterday, but also some gruesome sells particularly on Aquis. There are lots trying to call the bottom, but it is currently catching a falling knife. Anyone who has read my previous postings will know how disappointed I am with what has not only happened recently, but also the past 3 months. No point in repeating what I think the problem is and what I think of GF.
Where do we go from here? I'm watching the trades carefully, they usually give a good indication of which way a share will go. I can't say i'm a fan of scratching about trying to find gold off the floor. I would rather they were honest, told us nothing commercial has been found, and then concentrate on the new drills. We have lots on the go, in particular Greenland. This will not only take time, but also money. If he gets it right it could be very successful, if not, we will continue South. It hasn't looked good here for 3 months, but things change. When that may happen I wouldn't like to say, but doubt it is anytime soon. Correct strategy could be hold and wait if you fancy this to come good. That is what i'm doing but it doesn't mean i am right.
Fascinating story about the two Kiwis. What did they have in 1979, a pick, shovel, wheelbarrow? Consider that against current mining companies, and the expertise and equipment they have at their disposal. Makes our lot look like amateur night in the Yukon.
Hi Yanis
No doubt the inability to produce gold so far has helped to force the share price down. But what forced it from 0.48ish to 0.31 before the RNS came out? I had my last top up at 0.377 and had an order in for 500k at 0.35 but pulled it as i could see what was happening. Hundreds of millions sold since January, no way is that all PIs. Yes there have been buys, some substantial. But always met by bigger sells. I think my post about a placing is correct, but we will see. FWIW I do know a few people, and nobody has heard about a placing.
Lets not forget this appointment from last year. He should know what he is doing surely?
Mr Austin has significant management and operational experience in a career spanning four decades across a range of commodities, but with a particular focus on gold. Mr Austin's experience, prior to establishing his own mining consultancy firm, includes being a Non-Executive Director at Central Rand Gold Limited (2015-2017), being Group Geologist for Goldplat plc and CEO of its subsidiary Kilimapesa Gold (Kenya) (2007-2013), being Vice President-Exploration for Mano River Resources Plc (2006-2007) and being Senior Exploration Geologist for Placer Dome Exploration (Africa-Eurasia) Ltd (2005-2006).
George Frangeskides, Alba Executive Chairman, commented:
"I am delighted that our Senior Geologist Mark Austin has agreed to take up a full-time position with Alba as our Chief Operating Officer. Mark has been instrumental in the swift progress that has been made at Clogau over the past months. He comes with a huge amount of experience working for major mining companies, including hands-on experience in managing all aspects of the development of a gold mine in Africa from exploration through to the building of a processing plant and the ultimate export and sale of gold bars."
"Mark's appointment to this role significantly deepens our management team and is a demonstration of our determination to take Alba to the next level".
I wasn't going to bother posting for a few days after being insulted yesterday, Yanis must have thicker skin than me! Take a look at the chart from January. Sure...George hasn't helped matters but you can't fault his communication to shareholders, although been very quiet recently. The primary reason the share price has plummeted to current levels is because of the hundreds of millions of shares that have been sold since January. It has been relentless, every bloody day with maybe a couple of exceptions. This isn't PIs work, this is the work of the city and forcing this price down to facilitate a placing at a much more advantageous price. I have been saying for ages that it was either Clogau results or a placing forcing this down. Well it looks highly likely to me it is both. Lots trying to catch a falling knife, and good luck with that. Doesn't matter how many shares are bought, the seller has more.
A placing will definitely occur at some point, when ALBA was 0.32 I thought 0.28 - 0.30, that ship has sailed. No director buys for 2 years, but can bet they will buy in a placing. It's currently really grim, but let's keep things in a civil manner.