Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Tks, Spike..good post Grateful for any feedback from AGM
Jolly - I think some sort of facility like this might be likely and while they are not great, in this case it might not be the worst option. I think as soon as the financing is raised, there is going to be some sort of relief rally in the market that it is place - just as long as that financing is not the entire amount upfront by issuing hundreds of millions of new shares at a discount to todays price - I think that is currently the markets fear. A facility where they can draw down only the amount when needed, so there is no large upfront dilution would not be the worst option. AIM shares where financing is obviously required, always become vicious circles - financing is needed so the SP drops, which makes financing more dilutive which pushes the prices down further and so on. It does also work the other way though and if the financing looks like it will be less dilutive overall than the market fears, then the SP climbs and so it is even less dilutive and so on. What would be best - short of conventional financing - will be if they get a financing facility that gives the option to repay either in cash or by converting at some point in the future. It seems that only short term financing is needed to see through to the launch of ATNi and hopefully the ongoing progress of Televisa. One interesting thing to note is that the nominal value of the share is 1p, which is where the current market price is. They cannot issue shares below nominal value so would have to call a general meeting and conduct a share split - that nothing has been aligned with the AGM that has now been called is a positive sign. A slight fly in the ointment currently, is that the peso, having climbed significantly and returned to where it was pre-Trump, is currently weakening again as the NAFTA talks are making people nervous. It is still nowhere near the depths it reach (currenty 18.7 per USD, having dipped to 22 per USD after Trump), but it is increasing uncertainty in Mexico again. I'll be at the AGM on 30th.
possible, but perhaps more likely one of those horrid equity facilities that are so widespread on AIM?