George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Hey folks, for those interested Caravel minerals just issued their PFS for their bindi deposit https://caravelminerals.com.au/
Interesting they have used 4$/lb long term copper price and managed to get down to a 0.10 % cutoff. Lots of other details in the summary that provide insight into what xtract are working towards.
Last RNS commenting on the economic situation in Sri Lanka was 20th April, impacts of fuel shortages and social governance were noted and CMET declared no impact on the project. If this had changed the company would need to act and update via RNS or the NOMAD would force the issue. I believe no news is good news in this regard.
It's an interesting question, its impossible to estimate which proportion of the SP decline is linked to resources sector, general market decline, Sri Lanka economic issues or the slip of CMET deliverables / IML. The proof will be in how the share price reacts when we finally get the IML !!
I also remain hopeful but also can understand why he would be reluctant to put any timescales on the IML, the country has all but run out of oil and even government departments have been asked to work from home. I don't believe they are setup to be effective to work from home but even if they were rolling power cuts would make it difficult.
Under the Bill Trew section he states $1300 ASIC but puts a big caveat on costs may further increase.
Looks like they are having issues getting to some of the material which was part of the extended resource, did anyone see any positives in there ?
That's where I am coming from, looking at their meeting pictures / infrastructure / lack of laptops I don't think folks will be working from home... At least not they way you are thinking, growing fruit and veg to feed their starving families more like !!
I don't think so, logically one would set a threshold such that no one theft could have a material impact on the companies finances, IF the robbers struck just before a shipment then the procedure has been successful in that regard but we don't know that. What I deduce from the statement on financial performance is that they expect to be in surplus ref paying the gold loan to be able to declare the 350k to not be material. Which would suggest we could be on track... Operational update awaits
Most recent news from SL indicated government departments are effectively closed till 10th of July to conserve oil. Market reacted as we need a government agency to issue the mining permit. We don't know if we are at the beginning middle or end of that approval cycle so difficult to assess impact on our particular case. I have taken the view the risk was and is this whole process takes longer than we hope/expect but the underlying project is viable and will get built eventually therefore adding when I can to average down.
Not uncommon but theft wasn't listed as a high risk item for last year's final report. Hoping to see it addressed properly in this year's final report and more details about treatment of this risk.
I took the opportunity to add as I am expecting an upward trend in the operations update...
This was my thinking, not been in a suspended share before, it possibly feasible that shares could be admitted when a share is suspended but I cannot see how they could be dealt unless we were unsuspended. We know the final results were end of June last year, and it seems feasible as this would be the end of the closed period.
I don't know for sure but seems unlikely shares can be available for dealing on the 28th if the share is still suspended, I suspect they will publish the final results, operations update and resume trading before or on that date but this is my first time in a suspended share so I could easily be wrong.
Look at ACP, 6 months between EIA and IML last year, and their country wasn't falling apart, riots in the streets and entire government resigning and new folks coming in.
PPS it was nice that ACP provided clarity in their RNS that the EIA was the FINAL step in the IML application. Would be good to get that clarity from MF if opportunity arises.