Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Have to call it CARKERS soon!!!:):)
Cradle Arc Cradle Arc PLC (formerly Alecto) will soon have completed the purchase of the Mowana copper mine in Botswana. The mine has had >$155m spent on it, roughly 25% in drilling and soft costs, 75% on mining, surface infrastructure and the plant. Via a cash and shares transaction, Cradle Arc PLC will own 60% of Mowana with 40% owned by ZCI, the mine�s historical lender. Cradle Arc took over operations in March, the first production blast was April 29th, since when tonnage has ramped up to a current rate of 60kt per month and circa 550 tonnes of copper metal per month. The mine is now fully funded and will ramp-up to an annual rate of 12,000 tonnes of copper by December, then expand to 23,000 tonnes by 4Q18. The Mowana Mine has an initial 11-year mine plan from two open pits. However, the 30m wide orebody is also open down dip and along strike and has excellent additional open pit and underground potential. We expect the transaction to complete and for Cradle Arc to return to AIM this month (November). We then anticipate positive operational updates as the mine ramp-up progresses and operating cashflow turns positive. - 08/11/2017
https://www.**********************/cradle-arc-c-2-p-471
visit the Cradle Arc site: http://cradlearc.com/
Royoboy, I had an e-mail on Wenesday, I have signed up to cradle arc and was already with alecto, hope this helps
JUST RECEIVED IT NOW
I received mine by email
i haven't received yet this announcement from Alecto/Cradle...
Where did you find this update please? I have looked at specific link you have provided but cannot locate anything other than what you have provided referencing the 22nd December...
i haven't received yet this announcement from Alecto/Cradle...
They certainly stringing this out but guess it's necessary !
Cradle Arc, the African focused base and precious metals exploration and production company, announces that further to the Company�s announcement of 14 November 2017 regarding, inter alia, the Revised ZCI Debt Restructuring in respect of its Mowana Copper Mine in Botswana, as set out in the circular dated 27 October 2017, the liquidator, Leboam and ZCI have agreed to further extend the longstop date to 22 December 2017 in order to finalise the legal documentation in respect of the revised debt restructuring. The Company continues to progress its preparations for the Company�s ordinary shares to be admitted to trading on AIM and a further announcement will be made as and when appropriate. For further information, please visit www.alectominerals.com or contact:
Just be aware that they can say whatever they want on their website when not listed. Not the case with a RNS when listed. Big difference between the two.
Ok. I guess I just want communication - whichever form it comes.
You are right. No RNS until listed again.
we should be hearing something today. we got this following the results of the AGM: "Update on the Revised ZCI Debt Restructuring As set out in the Circular, in late September 2017, the liquidator, Leboam and ZCI, agreed in principle the terms of the Revised ZCI Debt Restructuring and to an extended longstop date of 14 November 2017. The Company announces that the parties have now agreed to extend the longstop date to 28 November 2017, in order to finalise the legal documentation in respect of the revised debt restructuring"
Incorrect. The results of the general meeting was issued via RNS.
Maybe would be good imho
perhaps.
Thanks for that GeologyStudent... The Results of the general meeting information threw me quite a bit there. But thanks for the info.
I have contacted a member of the management team and received confirmation that the number of shares post RTO (~130mill) is correct. The vendor Penmin currently possess 40.5mill shares or 60% of the enlarged share capital. The conditions of the Mowana transaction are such that the vendor will retain 60% of the share capital subsequent to the �5mill fundraise plus CLN fees (�3.25mill Late October CLN + �1.75mill open offer). The aforementioned fundraise will add 25mill shares to the current 67.5mill shares in issue. As a result, the vendor Penmon will receive an additional 37.5mill shares ('Top Up Shares') in order to satisfy the conditions of the Mowana transaction.
Even better News is that Beauforts price is based on a total share issue of 132.5 million shares. The total shares in issue according to the 'Results of General Meeting' are only 67,529,482 which would make Beaufort's price circa 98p I hope I've got this right GLA
https://twitter.com/AlectoMinerals?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fwww.alectominerals.com%2F Beaufort Securities has a Speculative Buy on Cradle Arc with a 50p target price
Going on everything we know about the recent updates, I would suggest that, if it does not re-list by Christmas, then the financing may have not gone as planned and we could well be facing the worst case scenario. If it does re-list by Christmas, then it will not be only baby Jesus's cradle which will be celebrated...
Yes i think thats the way it should be done so hopefully listing by xmas