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Thanks for the headsup flatearth. I'm not a paying member so I couldn't respond to your email, but I am going to the show tomorrow, and Allana's workshop. I have collected questions, and have a few of my own. If I get usable answers, I'll post them tomorrow night. In any case I will give a sense of what I got from the reps, if there's anything I feel I can add to the discourse.
I think I read you there...I will ask how many holes they expect to include in the preliminary NI 43-101 report. Safe to say they hope to delineate the western portion, and some of the belly of the beast, but primarily the shallower holes, IMO. Remember, it's all about securing a resource worthy of financing at this point. We need a solid base by Canadian standards, unlike our Aussie friends in Eritrea, who can get it done with 3 holes. But then again, we are in Ethiopia, and our VP/exploration in Ethiopia has good friends in all the right places. Keep in mind, Samaria Carpets had their concession at the east end revoked last year...who do you think has first dibs on that piece of the pie? Good news...Nov. 9...Allana Potash STARTS consolidating of Ethiopian Potash Basin. Think about it...have a great w/e.
think we all know the answer to that one, but I'll throw it down on the ask list anyhoo
freed myself up for the 11:30 am monday allana/aberdeen workshop at the vancouver resource investment conference. any queries from ye lads for the reps?
Man would that be a righteous adventure...maybe we can throw down for that one when we reach the promised land...check out the ops while we're at it. Think they'll bunk a shareholder for a nite or 2?
I don't blend well, so I guess it's the place for me...love to make the Allana, Aberdeen workshop at Mon. 11:30, but my sched's tight that morn. Anyone else plan to make that one?
Thanks for the heads up...if I go I'll post anything I glean here if I feel it's of any value. FWIW.
Might drop by, since we live near Vancouver. But we probably know at least and likely more, than the guy in the booth anyway. What do you wear to these things? I'm not a suit and tie guy. Me and the suits? I can't see that. Nice day, maybe, could be interesting exhibits. Anyone been to these things before?
He's basing his $3.25 a ton figure on what K&S paid for tons in the ground when they bought out Potash One. Assuming we are also bought out, I guess he's saying that would be a good figure to base our worth on. Personally, I find most of his calculations extremely moderate. Too many positive variables make our project worth many times $3.25 per ton in the ground, not the least of which is certain funding and much much lower capex and opex. Not even close IMHO.
they pay no tax until their capex is recovered, then I believe the rate is set at 30%. Allana's investment is secured by the constitution, and Ethiopia is a signee to international investment security agreements. you can find this info easily by navigating allana's website and Ethiopia gov't sites.
Well said...I'm down with the greedy executive theory too. Way out of control and killing our competitiveness on multiple levels. Just a symptom of the disease our society suffers from though. The very fact that you and I are voices in the wilderness on the issue of runaway greed, is all the proof you need to prove its pervasiveness. Not that it matters, but I feel too many turn a blind, enabling eye because they secretly hope one day they will be filthy rich too. I'm going to be wealthy eventually too, but I still think they're mutts.
Hole 6 demonstrates continuity of deposit from north to south, and number 7 through will remove all doubts. This basin is crazy rich in potassium, and we're the best positioned to capitalize of all the players there. Make no mistake...Allana has all the pieces of the puzzle, just a matter of time. STB has a great property too, but they have the good fortune of listing on the ASX, which is the only reason their SP is outperforming ours. Sadly for them, Eritrea is light years behind Ethiopia in infrastructure capability and commitment. No question we shall be shipping potash well before they will be. Hang on lads, 2013 is close at hand. This greenfield project will be awash in many shades of green for the patient, and what better place to park your cash? Banks? I don't think so.
My guess is shares for the middle portion of Sianik's parcel.
perhaps...I never could see what he brought to the table tho, so a very competent replacement in any case.
I'm thinking Abs' " chat " with Baby Bharti ended with a wee spanking...oh well, plenty more benches to warm in Dad's stable.
Very positive development...the guy was a loose cannon. Dead wood replaced with a solid player...nepotism over creds never works.
Got to love all the disappointment, just because a bunch of traders pooped on the parade today. Who cares? Not me. I plan to be around to see this through in a few years. As long as they keep finding potash in places nobody has before, why on Earth should we complain? Btw, the assay of this hole isn't even done yet....anyone remember hole 1, and how pouty some got initially, and how further tests uncanned a very pleasant surprise? Not that that will happen here, but hell, I'm elated they found what they did out there because I know they're going to prove up big as they move on in. Great work lads and bring on 5 and 6! That'll cork the mutts.
WORD
Sounds like a damn sight more than coffee brewing here Bob, and Abs has been burning the midnight oil since BHP ran through the hen house. What's not to like watching this play out? Beats money in the bank don't you think? A thing of beauty. Cheers to ye! Cam.
Let's hope it never comes to that Thanks for keeping us in the loop Bob. GLTA this week!
Enough foreplay already...I just wanna up and drill this old girl!
Intrepid Potash is a pretty decent look ahead to where Allana could be if we reach production w/o getting taken over. We can easily produce twice as much as Intrepid at 25% cheaper, so that should roughly negate the share float issue. The only thing possibly holding us back is the fear of mining in Africa many investors still have, regardless of the jurisdiction. Allana could do a lot more by educating folks about the REAL Ethiopia. Luckily for us we know better, and have our seats on the train. Next 5 years may be very rewarding for those of us with the nads to stick it out.
Fair enough...let's hope they hit their stride now, and provide more clarity without being prodded going forward.
true. very adverse conditions, and maybe that's a legitimate reason to slow their drilling to a crawl...didn't seem to bother Parsons and co. too bad tho...and if it is impeding drilling that badly, why not give reasonable time lines to reflect that...anything less and and your credibility is eroded.
Okay, I never said anything about being disappointed about drilling RESULTS...more than satisfied with the results, so that's a non-issue. maybe you are satisfied with the pace of drilling but, as I explained, I am not. Reasons? Excuses are for losers, and pros shut up and find a way. If they drill at the same rate, even with 2 rigs, on phase 2's 10,000 meter program, it will take another 8 months minimum before they're even ready to begin the pre-feasibility study they were scheduled to have completed by then. Not that I really give a damn if it's 8 months or even more, as long as things get done WHEN they say they will, or there is accountability/clarity if they don't. I provide as much in my own business and I expect it from other professionals.
I personally would be happy if they just cleared the air as to why the drilling crew is only capable of averaging less than 10 meters a day. methinks these Meridian folks just aren't up to it, and frankly I'd feel more comfortable if we knew what we were paying for these guys, and whether we would be better off getting someone much better for phase 2 if these guys can't meet deadlines.
From what I could see in the Potash One feasibility study, the presence of over 1% magnesium can be problematic in potash extraction, but is only a matter of increased processing costs but, as in MagIndustries' case, can be recovered from the waste brine and used to provide a countering and separate revenue stream of it's own. Could be a nice asset, and should we hit more, we may be looking into a separate off-take agreement, especially if the grades prove high. So far it appears to gain mention on the fringe of our concession, so it's not in the mix. Can hardly wait for them to throw a few stakes into the heart of this beast and see what bleeds out of her...
good thing there was no actual bad news or this thing would be paying us to take shares. unfreakinbelievable! bring on the rest of the financing already, because nothing less seems capable of shaking these day trader mutts loose.
designerportfolio indicates day trader...interesting perspective to post on INVESTORShub...some of us look deeper and more long term than the latest chart, but thanks for the savvy insights McFly
Thanks for that..I haven't heard back from the brokerage yet..they offered to "make a note" on my account for the day traders, but I told them I want a guarantee. IIROC up here in Canada, who's supposed to regulate these guys, were completely nonchalant and feel that it's okay because it's common practice now. What a dirty joke. In the interim I put sell orders on all my larger holdings, but your suggestion of taking their name off is what I may have to do, at least for my long term keepers like Allana. Of course, once the big money comes to stay, we'll be just fine, just don't like the mutts doing what they do to our baby. Like someone taking your car over and over without permission and bringing it back with half a tank of petro.
I strongly suggest all of you call your brokers and insist they quit using YOUR Allana stocks for shorting. After seeing the manipulation today after the strong results, I called TD Waterhouse and the rep admitted that it is common practice for them to use your own stocks for their own shorting purposes. Not that I am so naive as to believe it doesn't happen, but enough is enough. They're not using my equities to frustrate share appreciation anymore, and it would be in the interest of any other serious long investor out there to demand the same, or pull their accounts if they will not guarantee as much. Another thing you can do is put a sell order on all equities you suspect of shorting and in so doing give them a very short leash, maybe something like 25% - 50% over market, depending on the stock in question, so they'll think twice. Do what is right for you.
WOW!! Very impressive indeed..all we could hope for at this point. Unfortunately the market will just yawn this one off too. I hope I'm wrong btw....
I don't know about you all, but I'm getting a bit anxious and wish they'd throw us a friggin bone here. Lots of juniors like STB in our own backyard making noise, and surely raising eyebrows. Also ELM getting noticed over in the ROC. Come on Farhad, you're bustin our nuts here! Maybe not his fault so much as the Meridian bunch being in over their heads, because I could drill as fast with a cordless fer chrissakes!! And where the bejusus is the concurrent seismics already 4 months in? AGHHH!!! Stock was higher 6 months ago. There...I got it out..am I alone here?
Thank goodness there's a moderated board where we can discuss Allana without all the pollution infesting Stockhouse now. Tried in vain to have Stockhouse clean up their act, but nobody bothered. Hope we can expand the realm of TSX stocks on Ihub eventually, so I won't have to visit Stockhouse again. Looking forward to many happy days and good, pertinent Allana related discussion.
I guess I need to apologize to the board regarding my calculations in the post prior. Can't figure what I was thinking, but going over a 200 by 500 by 5 meter = 500,000 cubic meter deposit and given that potash weighs approximately 80 lbs. per cubic foot, or roughly 2400 lbs. per cubic meter, the $300/ton (opex in) profit, multiplies out to $180,000,000. Not a bad " whiff " I'd say.
True, but a 200 meter by 2000 squaremeter horizon, (200 x 2000) at a 5 meter" whiff"(opex inclusive) isworth $12,000,000 at $300 a ton at 80 lbs a cubic foot, the weight ofpotash. We happen to have a high grade at that, so the economics arealready in line with the market cap of Allana potash, without even thethird hole outlining the width of the northern deposit! Get with itdude. If hole 3 pulls the upper horizon we are already over cap. and wehave just outlined the northern tip of the northern finger of ourconcession. The meat is in the holes being drilled now. Sainik is out,with a 3% NSR we got them, deal done. Best is yet to come...we'realready in the money. I'm not in any hurry, watching this baby till it'sripe to pick! Beats money in the bank or investing in some dumb assfiat currency, like the sinking USA dollar or Euro..Dumb asses.
Yeah, and a 16 foot bonus horizon 50 feet down? On the FIRST hole? WOW! That's CRAZY shallow...we could start shipping next week if we wanted..I am definitely stoked, so I can just imagine how the big money players are feeling, but I think we just got a hint...
Thanks so much for the update...that explains a lot. very exciting time out there, and ain't it easy to sense the momentum here? Again, a great post, and it clears up a lot of the current technical and time questions nicely. Btw, don't you just love the bit about the extra rigs? Now you have got to be certain big money is just waiting on the other side of the new (and ever expanding) 43-101 compliant M&I resources, because it sounds like they can't wait to tap that ground more. Love it! This is what it's all about.
you bet...spread what I think is useful..glad you can use it