Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Specifically what bit?
I don't remember that at all. Please explain.
There could always be a hostile T/O. Don't forget, we had a 3rd party express an interest in repaying creditors and re-starting mining just before Andy Ruhan stepped in with his brotherly loan and the starting of the arbitration process.
I agree....no company with any common sense would take over a 'Basket case' like this with such 'Muppets' in charge! I am afraid there is a long road to travel .... more pain and suffering for Private Investors before there will be any light at the end of the tunnel (even if the tunnel is full of coal)!
I think they have the funding to start it off again but I don't know how far it will go. Takeover ... not unless they put several more of their ducks in a row.....MO
Remarks by the Minister of Energy, Ms Tina Joemat-Pettersson, MP The New Age/SABC Breakfast Sandton Convention Centre, 23 June 2014 "I have directed the Department of Energy to accelerate the pace on the Independent Power Producer programme and I will make further announcements in this regard during July." "On IPPs we will focus on ensuring that communities derive benefit where these programmes are located." Http://www.energy.gov.za/files/media/speeches/2014/Remarks-by-the-Minister-of-Energy-Ms-Tina-Joemat-Pettersson-at-the-TNA-23June2014.pdf We'll see......
Allenby might have still been there if they had been paid.....
I think it's pathetic that shareprophets automatically assume SNRP is at fault rather than that Allenby may have quit as Nomad as a result of being displaced as broker by Beaufort, something that occured as recently as 13th May :- http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SNRP&ArticleCode=fq8wszk7&ArticleHeadline=Subscription_and_board_changes Here's the relevant paragraph:- ''Pursuant to the Beaufort Underwriting, the Company has agreed to the appointment of Beaufort as SNR's broker, with effect from admission to AIM of the Beaufort Placing Shares. Following this appointment Allenby Capital will no longer act as the Company's broker but will act as the Company's Nominated Adviser.'' Whilst nothing can totally be ruled out, It's strange how Alleby didn't quit when previous regime were failing us 'left, right and centre'. Funny how they also didn't quit when we're being threatened with legal action by several different parties. They did, however, decide to quit when current regime are attempting to sort things out, but without Allenby as brokers! Co-incidence?
well, i think was two busy bashing nomad and aim market to get the correct details....what do the finer details matter when wanting to bash something!
Ho Hum ... Couldn't even get this right...... :-( "This doesn’t bode well for shareholders, as the company has until 0700 tomorrow morning to find a replacement or that is it; curtains"
GM next Mon...... It is therefore proposed to seek authority from Shareholders to authorise the Directors to: (a) grant the Conversion Right exercisable over 50,000,000 SNR Shares; and (b) allot a further 61,000,000 SNR Shares for cash on a non pre-emptive basis. This is in addition to the remaining existing authority to allot 39,000,000 SNR Shares. If the Resolutions were passed the Directors would have the authority to allot a further 100,000,000 SNR Shares representing 36.8 per cent. of the issued share capital, assuming the Conversion Right has been exercised in full and the 51,000,000 SNR Shares the Company has committed to allot to investors and creditors have been allotted in full. http://snrplc.com/admin/resources/circular-9-june-2014.pdf
Thanks for the clarification. I had heard a rumour a few weeks back that SNRP was planning to replace the Nomad once the meeting at the end of the month had been concluded and the company had unveiled its new strategic initiatives. Maybe the Nomad heard the same rumour and decided to resign instead? The lack of any meaningful information coming from SNRP is very frustrating. It is a real lesson in the way a board can virtually do what it wants without any accountability to Private Investors.
Deadcyclist, I've no idea why nomad resigned, hence use of ''if''. The person who 1st mentioned that possible reason was substp in his 13.05 post. As he called the reason for suspension correctly, I gave greater credence to his suggestion, whilst at same time still stating it as a possibility rather than absolute certainty.
Beaufort doesn't show up on the LSE Nomad list....... Nomad is the issue here not broker Http://www.londonstockexchange.com/exchange/companies-and-advisors/aim/for-companies/nomad-result.html?name=Beaufort+Securities+Ltd&city=&contact=§or=&search=search Maybe they are going to apply for Nomad status?
beafort not a registered NOMADso i reckon they'll go for SP angel
didnt beaufort get awedge of cahs (via free shares) from the placing maybe allenby peeved that they didnt get the cash as they are the joint broker and been in with SNRP longer? in which case wouldnt be suprised at an rns stating beafirt becomes nomad (if elligible)
after the intital shock im goign to stay positive and asume itll get sorted and we can start to recover!
does Allenby not have to state the reason they have resigned? can we contact them and ask? would they tell us?
It looks like we will have to get some picks, shovels and some sacks then head off to South Africa to dig the coal up ourselves if we are to salvage anything from this investment! Any takers?
Looks like we will need to get some shovels and sacks and head to South Africa to dig the coal ourselves if we want to salvage anything from this investment! Any takers?.
Did the Nomad resign for non-payment of fees? Where did you hear that?
We need a new nomad rather than broker as we already have Beaufort as the latter. The Q is can Beaufort become a nomad within the time frame or must we look elsewhere? If Allenby resigned for non-payment of fees, why didn't SNRP pay them whilst paying other creditors and why didn't Allenby bring this to light like other creditors did?
independent power producer.
Where did you see the IPP reference?
what do you mean IPP? Looking around it seems like a new broker can be appointed within a few weeks so not all doom and gloom just yet IF this gets sorted we should see increase in SP hopefully