Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Bewaresahadows, my point was not whether RRDSL was a good or bad thing for the business, just highlighting that Surely was at best being selective with his posting. Time will tell over RRSDL, I suspect the sale/acquisition was a way to get the rigs wanted - this is not backed up by any fact but effectively it was off loaded and then when it came back it was with new kit and the purchase was set up in a way that was not just an outright loan. KRO
Bounty, "Cash is there to be used" for investment only if there is enough left over after costs to do so. However this company is loss making at the operational level. This means that when it uses it cash there is not enough coming in to replace it. Therefore the cash position is very important. How long will it last.
Bounty, I appreciate your point that you need to spend money to make money. But lets not forget that one of those acquisitions was a recent sale. (RRDSL). So it's one thing to spend money acquiring useful assets but this same BOD had only decided about 18 months ago that one of those assets was a drag on this companies balance sheet and it would be better to have the cash from selling it and rent assets instead. To me that kind of indecision would be of some concern. Even if its simply from a point of lost fees in the buying and selling process.
Surely, nice effort in trolling but you seem to think cash is the be all and end all. The cash is there to be used, which they did in the 2 acquisitions of RRDSL and the Indonesia asset. If you have �5 and you are hungry, you spend �3 on coffee and a cake, you now only have �2 cash left but have goods to the value of �3. You clearly know this but want to paint as negative picture as possible. Never mind as the report only covers up to Dec 17 which is now nearly 3 months old, that even pre-dates when you seemed to turn up on this board posting your �wonderful insight�. Perhaps you wish to comment on the working petroleum system in Puntland, or the duster in Georgia, I am sure you can provide yet more expert analysis on these. FRO
By far and away the most important line in the recent results was the cash position. "Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million)."
That was it then, spike over. Two tiny trades at 0.245 and 0.25, that was your lot. Then back to downward trend now. Seems Malcy wrong again, or at least the market doesn't agree with him again.
A 77% reduction in loss before tax to US$8.5 million (prior year: US$37.8 million)
But then again Surely, very few turnaround companies start by being in profit, I think. I have lost loads on this share because of PL and his gangster friends and never expect to get it all back and don't have rose tinted specs, even as an Optometrist, but I feel the last few RNSs show promise. Only time will tell but small, sensible improvements were the only way this company was going to recover so I am mildly heartened. I appreciate your not.
Revenue of 5,354,450, and Cost of Sales (7,984,304) Goodness me, loss making at on operational level.
"Cash and other liquid assets at the end of the period of US$10.9 million (prior year: US$20.6 million)."