Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The board of steelmin, which now includes Andrew Bell, will do what's best for all shareholders, of which RRR is a significant one. This could be royalty/ dividend or could be buy further plants/ assets which would enhance value. If steelmin decide to list themselves then again there would be a potential big upside for RRR. Meanwhile whilst this plays out over the next period of time RRR sit with plc costs covered a few times over by jupiter and Columbia.
Richie: "Will be in production in 12 weeks and selling into a strong market" So tell us Richie. . . . does RRR have any royalty with Steelmin? i.e. is any of the production revenue coming RRR's way? What use is 20% of a company ? How can it's value be realised? I guess you'd have to find someone to sell those shares to. Bit like the Jupiter situation wouldn't you say? RRR hold no shares in Tshipi which is producing brilliantly. As a result RRR doesn't get any of the proceeds because there's no royalty involved. RRR sits there with a handful of Jupiter shares whose value can only be realised if they can sell those shares to someone else. So frankly, your Steelmin comments cut no ice. Is there a royalty yes/no?
They haven't got a single customer yet.
Sorry for discrepancy, on phone away from computer. Figure in the original steelmin rns is 33% margin on eur 35m of sales.
Richie, can i ask where are you getting your figures? Today it's �10m The other day it was �7m with the possibility of firing another furnace for an extra �2m. �9m is �7.8m.
Steelmin progressing very much to plan. Sorry to disappoint all the negative folk on here. Will be in production in 12 weeks and selling into a strong market. Shortly after entering production steelmin will refinance and pay the loan back. RRR will then own 20% of a company making £10m a year all for loaning a few quid for 8 months. Not a bad bit of business.
Very heavily rain down here how on earth are they ever going to pay back the �4m debt they have taken out.Again all completely avoidable had they not spent twice their market cap using money they haven't got. My biggest concern is metal steel not working out and we end up with 30% of something that doesnt work for example no contracts are in place ATM. Its easy to see how this could all go wrong from here ,I predict another 10 for 1 share consolidation again here within 12 months,Mr Magic i would be very interested to hear whether you agree to that prediction,thanks Paul
I note AB has been quiet lately. Wonder what he is planning next?
AB has authority to issue up to 500m more shares here and it will expire at the next AGM (usually Dec). Similar story at RGM, authority there to issue up to 600m more shares, again expiring at next AGM. Can't help but feel Nov and early Dec will be a busy time. As the autumn leaves fall from the trees and blossoms, one wonders if likewise, the Bell confetti will rain down ? Tick tock . . . DYOR.
Early ;)
...once you have convinced yourself that a MD who routinely issues new share capital with apparent disregard for his existing share holders, and who has made many more big fails with his investments over a number of years than success stories. Of course, it's got to go right once... hasn't it? Maybe this is the time!! lols
Good times ahead. Remember get in early!
How are RRR going to pay back the huge loan they took out if no one pays them back?
Nice to see a little rise today :)
Panda - "I can't see how RRR are going to fund the substantial monthly payments to YA" Yup . . . . It's a lot of money to stump up when there's no significant income. Not too difficult to imagine how the money will be raised imo . . .
Will be worth way over what it is now in 2 years time Will be a cracking play for rrr
I can't see how RRR are going to fund the substantial monthly payments to YA. Unless this is resolved soon the share price is going to come under pressure as YA are able to sell RRR shares for a profit. Under the agreement YA can sell shares into the market for a profit as they can convert them at 93% of the VWAP.
Steelmin simply will fire on cyclinders with rising demand! :) excited
If Steelmin is such a high quality asset why did they borrow money on prohibitive terms from a tiny company with no steel production expertise? Surely they would have just gone to a bank?
It is a exciting prospect being part of steelmin for rrr cannot wait
It really is a quality asset. Will be in production by end january. Initial ebitda of €7m in a strengthening market. This is before the second furnace is brought on stream much later next year that could add another €2m. RRR will benefit from a steady income stream in the form of dividends and/ or value appreciation through Steelmin bringing other assets to the table. Who knows what steelmins plans are. Could they float themselves to raise finance for other assets? Who knows. On a modest valuation of 5* could steelmin not have a percieved value of £35m? By read across RRRs 20% would be worth £7m, nearly 3* current market cap for this asset alone.
Will be waiting with anticipation :) demand for steel picking up