Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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36800, why not just deal with the facts about the loan note instead of spinning more lies about me? this ad hominem stuff you trolls is both boring and ine
A quick delve through the RNS's reveal that trading in SLE shares were also suspended from:
3 Nov 2017 until 23 April 2018.
3 July 2017 until 11 Sept 2017.
22 Jan 2016 until 26 August 2016.
Not the first time.
Suspended 15 June 2021.
13 months .
Came back from suspension 11th July 2022 I missed it opened 41p fell to 34p .
San Leon shares have been suspended since July 2023 as the company still has to publish its 2022 results.
This the last news Mon, 08th Jan 2024
(Alliance News) - San Leon Energy PLC said it has not yet received funding from Tri Ri Asset Management Corp.
San Leon, a Nigeria-focused oil and gas production, development and exploration company, in October had announced that it would receive an investment of up to USD187 million from the investor in public markets.
"To date, no funds have been received by the company. Although San Leon considers that its contract with TRAM remains valid and in full force and effect, the board has nevertheless determined that it is prudent to seek an alternative solution should the TRAM investment delays continue. Over the past weeks, the company has identified and has been in discussions with a new potential financing partner in relation to a potential funding solution that is similar to the investment from TRAM," San Leon said.
Yes 36800. him do it on lot of stock talkin website all ovur the inturnet. an only for the red lion. he an obvius crook.
Mdumba, as you are not a regular poster here you are probably unaware of the evidence and consensus that Alaric is most likely a paid employee of San Leon with a brief to denigrate any poster that has opinions other than positive. He has been caught and admitted to using multiple identities. You may have noticed his posts are often accompanied by prompt support from Sam245.
Please ignore his feeble attempt to silence fair opinion and continue with your excellent and enquiring posts.
First time I've looked in at this share for a few years & I see trading in it is suspended (yet again) - any idea when trading is likely to be resumed as I want to sell & use the loss to offset capital gains elsewhere.
Nothing personal Mdumba but it's just that you've been told at least twice now, so you're either illiterate or mendacious. to repeat myself again sle lent c $173m and have been paid back $190m...plus $40m. So just interest is owed so OML18 now is for free. some might call that pretty good business by Oisin but don't worry i won't be holding my breath waiting for an acknowledgement from the trolls :-)
Why do you think I am a liar and a troll by asking about what is happening to the Loan Notes?
Usual rubbish Mdumba (btw another slightly dodgy/fake nigerian name?). i've reported the actual position on the loan notes which has zilch to do with the delayed filing of accounts. to reiterate with the exception of the rolled up interest the loan notes are all repayed. to suggest otherwise is a complete lie but why am i not surprised, after all the trolls are habitual liars.
Ok My mistake. And thanks for pointing that out Callasjunkie. I see the note says $79.5m was still outstanding as at April 2020 but carrying an interest rate of 17%. So yes that partially explains it. But still doesn't answer the question as to what is actually happening with these loan notes and what the cash funding position of the company is. Nor does it explain why the final accounts to 31 December 2022 are still outstanding (and all subsequent results) Wonder when the Company will make some announcement as to what is actually happening!
It is quite pathetic and doesn't help that the company has not published any results for operations after June 30th 2022.
Erm What is trolling about asking the question about MLPL Loan Notes? You seem rather touchy about it!! It was a simple question about something that a lot of store has been put on by the Company (including the second dividend) but it seems to have disappeared into a black hole. If it has been repaid then why hasn't the second dividend been paid? Presumably it can't be paid because the accounts have not been finalised. Which then raises the question as to how would i know what the amount outstanding as at 31st December 2023 would be when those accounts have not been published? Or indeed what it was at 31st December 2022. Indeed, the last mention of the Loan Notes was in the release about the termination of the transaction with some vague mention of discussions being had about the Loan Notes and how some kind of arrangement (presumably another kicking of the can down the road but not sure for whose benefit) was being discussed with MLPL. Maybe it is just the paid PR team that has seen the numbers and the amounts outstanding but no-one has announced that the full amount has been repaid. Or have I missed something buried in one of the announcements? In which case, is this the cash that is funding the company in the absence of receipt of the third party funding (which also seems to have disappeared into a black hole)? Just wondering how on earth you would know what the position was at 31 Dec 2023?
From 2022 Interim Accounts;
"In the six months ended 30 June 2022 US$0.3 million (six months to 30 June 2021: US$0.8 million) has been
received by the Company in relation to payments due to San Leon under the MLPL Loan Notes. San Leon
has agreed with MLPL, Midwestern and Martwestern to a Conditional Payment Waiver to 31 December
2022 to allow for the completion of the Proposed Transactions. As at 29 September 2022, the Conditional
Payment Waiver relates to US$108.8 million, being a principal amount due of US$82.2 million and total
accrued interest due of US$26.6 million, which will be payable 90 days after such expiry, save for, inter alia,
if there is an event of default."
We already knew you couldnt do simple arithmetic....now we find you cant read either, Alaric.
I see the junkie who lost tries to spin the truth once again, what a thicko that loser is!!..
As usual complete garbage from the trolls who either make it up as they go along or haven’t the faintest idea how to read accounts. to reiterate the original principal of $175m has all been repayed leaving the balance outstanding at 31 Dec 2023 as $126.3m.
Mdumba, the Financial report at the introduction to 2022 Interims states that $108.8m of the Loan Notes was outstanding at 29 September 2022, being $82.2m principal and $26.2m interest.
Hmm Okay you say that, in looking at the account there is ONLY $120m or so outstanding to be repaid and that only represents outstanding interest. Is that actually correct? Looking at the interim accounts to 30 June 2022 (unfortunately the last published accounts!) in note 12 there is a reference in the note relating to OML to $175m of loan notes plus interest at 17% being outstanding. There is also reference in the accounts to a fair value having been applied to the notes and there is a note saying that, at the time, the Loan Notes were considered to be credit impaired, particularly as they were due to be repaid out of cashflow of MLPL which took into account a number of factors including the Proposed Transaction being delayed or not agreed (which, of course was ultimately never agreed), the risk of late payment and the risk of default. At the time, when everyone seemed to be very confident of the Proposed Transaction taking place there was already an impairment of $16.5m (not a lot in the context of $175m loan notes) but with the rolled up interest from that date at 17% surely the amount of principal and interest outstanding is well over $200m but the deal is off and the cashflows from MLPL seem to be all over the place. So I am interested to understand where you got your number of $120m from, what the real number might be and, in reality, is this something the shareholders of SLE will ever see? Or is this, something that needs an even greater impairment and is there an issue as to what the carrying value of that should be in the year end accounts (where the question will now pertain to both 31st December 2022 and 31st December 2023)? I am curious to know just what value one might see out of this investment - and given the 40% investment in the shares in MLPL ranks behind those loan notes then presumably the value of that is negligible for the moment. Is there really ever going to be a market in the MLPL loan notes whereby value could be realised? And in doing so, would the potential acquirers (maybe some kind of vulture fund) effectively crater the equity asset. It just feels like a bit of a mess to me after such great promises of two dividends being payable to shareholders on the back of the investment but where we have so far only received one.
Kakistocracy, simply means “Government by the worst persons or a form of government in which the worst persons are in power". so a bit like everyone else in the world particularly us in th
Kakistocracy, simply means “Government by the worst persons or a form of government in which the worst persons are in power". so a bit like everyone else in the world including particularly us iimĵththinthe ut5iotvþu
All paid great so we got oml18 now for free....
Think that ignoramus aflake needs to go back to school and learn how to spell as he sound like the dumb dumb he is!!..
Sorry Mdumba you're quite correct. actually MLPL was the issuer and Midwestern guaranteed the repayment. the point we've all missed (including myself til now) is that they've all been paid back with the exception of the interest, which is Midwestern's liability. if you look at our accounts from 2016 on, you will see they're not there anymore (original principle value c.$175m). you can also see that there's c.$120m of interest currently outstanding. my mistaken nomenclature about issuer and holder pails into insignificance compared with the trolls' efforts to denigrate Midwestern and thereby San Leon.
Samalarik you absulutlee numptee you rong agen. your smoke n mirrors post frum 14 nov proved rong. you try cuvur up for the red lion dont work agen. years n years of you always rong you funny boy, yer best mate redyeyemines not much better either.
samalarik say ...As you say sam cr8p. we sold the bulk of our assets to Ardlaun in 2019. ask yourself do you think it's likely that we would retain contingent liability under such a deal? or more likely that they saw our recent fund raise and thought they would would try their luck? small beer anyway. it looks like Afake is getting pretty desperate now if he's scraping the barrel of the Irish media :-)
but fanning settle out of court to save face. lol. but he didunt save your face. lol
no wundur no one belivus a word you says anymore. you gettin prety despurute boy always scrapin a barrul of lies to help the paymaster fanning. Lol
https://www.breakingnews.ie/ireland/minister-for-climate-settles-case-over-decommissioning-gas-field-off-south-coast-1586849.html
Out of the turmoil that is Nigeria comes an interesting new word, well at least it is for me, - Kakistocracy - which in a word rather sums up Nigeria.
"Kakistocracy, simply means “Government by the worst persons or a form of government in which the worst persons are in power".
The Naira depreciates daily and even the new Dangote refinery near Lagos has to import US oil to commence operations amazing!
Given the multiple difficult situations in which Fanning currently finds himself its probable best that he stays "out of reach" by his pool in Dubai and lets events unfold as they will who knows maybe new opportunities will emerge out of the turmoil.
https://punchng.com/govt-must-tackle-corruption-to-address-naira-free-fall/?amp