Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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He's disappointed but thought it was right to resign as he didn't want Polo/Diani to turn on the share holders if he was kept on.
What a top guy, i'm gutted he's going but if its not working then no other option.
Any view on CTW?
Yes 100% he's on the inside atm ;)
Is he a reliable source?
Sharebare2 - i made a similar point recently, specifically relating to the NED situation and using THAT to take this private. Doesn’t make any sense at all…Tang could’ve withheld polo funding and taken it private years ago, not a penny of the 3.2m has been paid back, why give it? On top of that his wage has been deferred for 3 years, he wouldn’t have done that unless he expects a big pay off and the way that happens is by getting approval and selling his shares (of which he owns over 30%) on the open market as this rises into the pounds.
It’s expensive to have a London stock exchange listing, pay annual fees, meet nomad requirements, needing shareholder approval at agms etc. He needs it because without it the licence is worthless and he’ll get taken out on the cheap by Bangla gov/Chinese with nobody to step in. The LSE listing gives him security - the figures we are talking once this takes offc security is essential….his very living probably depends on it (dramatic, yes but don’t underestimate peoples greed and corruption).
Now put the shares Polo is currently holding into a calculator and times it by say 200 (£2) which is a minimum at some stage after approval and go figure how much Tang is now worth.
Afternoon everyone, I've just had a very interesting conversation with the man in the know. GCM are actively recruiting NED's and hope to have a few in place soon, NOMAD on board with everything that's happening.
Can't see GCM de-listing, its mainly about Power China convincing SH to give the go ahead. 2024 could be very interesting!!
the £500k was new investment money too .
They are hoping to issue an RNS in the not too distant future with an update as long as its all in accordance with the AIM rules.
As its quiet here let me ask some more questions.....
People don't just wake up one day and decide to throw half a million quid on some penny share punt on Aim called GCM. A company that has ZERO revenue or asset value.
A share that has been sitting in the gutter of aim for the last 15 years.
A share that is running out of cash and is desperate for operating cashflow.
No chance.
So why would anyone buy £500,000 worth "shares" in GCM right now?
Those that say Tang is taking this private explain who brought these shares and why?
If this new buyer wanted in on the GCM action they could of LOANED GCM £500,000 - that's more than the £300,000 on offer from Polo.
Being a DEBT holder gives you far more certainty than a shareholder.... even if GCM delist from the stock exchange the DEBT will still need to be paid..... so why go the route of buying shares? why not LEND the money to GCM?
Unless they KNOW the shares would yield a much better return on investment than a LOAN at say 5% or even 10% APR.
people with £500,0000 to spare know a lot more than any of us on how to make money.
Sharebare2 you’ve hit nail on its head there imo.
I’m bored13 Feb 2024 22:46
Question
Why would CW … who was effectively pushed… write up such a glowing and detailed RNS on his way OUT?
We’ve had almost no info at all in most updates … that was without doubt THE best rns we’ve ever had.
As shareholders we have 28 days to get out with what little pennies we have left … and us all selling up makes zero difference to tang or even GCM … IF the plan is to delist, the shareprice means nothing. So why not just give us the usual standard update rns and let us get out too.
So why CW gave us such a good RNS? Why bother ? It makes no sense. And why did someone jump in with £500k? Again makes no sense at all!
Maybe … just maybe the plan is not to delist at all.
Maybe CW was pushed to make way for local NEDs so he knew he had to leave in order for this to move to the next stage.
Maybe his RNS was a little “hold tight not long left” message to us long standing shareholders ..
Maybe just maybe this really is it… and we can all have that £10 party after all ! :)
Also… maybe delisting polo was part of the larger plan to help fund GCM…. By delisting Polo Tang was able to keeping pumping polo money into GCM without having to ask for Polo shareholder approval.
Why would polo shareholders keep approving endless loans to GCM ?
Maybe delisting polo was a shrewd move to keep GCM … the bigger prize…. Afloat.
@Bangla - you say if it wasnt for Tang "After all these years we would be in a situation were we would be on the verge of putting in a proposal to the GOB with there inclusion,"
you have to remember - if it WASNT for Tang - GCM would of went bust YEARS ago -
It was TANG - via Polo - who has kepy GCM afloat with loans
It was TANG who introduced the major Chinese partners
I dont know what is going to happen next for GCM - its soo frustrating that we are so close yet also at risk of delisting.
Love or Hate Tang and whatever his intentions - if it wasnt for him we (GCM) would have gone bust years ago.
Severe power shortages already.
https://www.google.com/amp/s/www.tbsnews.net/bangladesh/energy/will-load-shedding-be-severe-summer-too-792566%3famp
The fact remains that Tang has coursed all this uncertainty with forcing Christian to resign Why? If it wasn’t for Tang , After all these years we would be in a situation were we would be on the verge of putting in a proposal to the GOB with there inclusion, the situation Bangladesh finds itself after years of mismanagement and corruption permission to mine would have to be given . We should be flying at the moment and shareholders confidence should be sky high instead everyone is worried Tang is trying to pull another polo,
I’ve read Christian’s excellent rns again and there seems to be a lot on what is expected of directors and what the rules/laws are on how they need to behave I’m now wondering if yhat rns was a parting shot at Tang and can be used against him if he wants to do anything that’s not in the shareholders/ stakeholders interests . One think I’m pretty sure of is if GCM can get these NED’s on board we should see a decent re-rate . Only my opinion .
Correction - do not say that is his plan (? in header) but that is major Market concern!
🦉
People focus on point that Tang did delist Polo Resources and now have plan to delist GCM Resources.
24th Jan RNS did spook investors because precedent was set before.
Bangladesh stands at the precipice of economic development or disaster. The policies undertaken in the current tenure of government will largely decide which way the nation will be heading. There is little room to maneuver and the road ahead is fraught with pitfalls. A precious decade has been completely wasted on adopting legislation that has crippled the nation's capacity to be self-reliant in energy. A flawed decision to move away from using its coal base, at a time when the two economic power houses in Asia, viz. China and India have gone for developing their own coal reserves and scour the planet in a race to secure future supplies of the fuel. Faulty it was because while these two major economies moved ahead in leaps and bounds in terms of economic prowess, Bangladesh is now in a fix.
The country has missed the "coal train".
https://thefinancialexpress.com.bd/views/opinions/streamlining-energy-policy
One of the best articles written exposing the corruption and sheer lunacy of Hasina's energy strategy. Little wonder GCM was forced to sit and wait so many years. But surely now with no ForeEx dollars left to buy coal Hasina simply has to dig the Phulbari coal.
https://www.eurasiareview.com/12022024-bangladeshs-serious-foreign-exchange-crisis-gets-worse-oped/
Question
Why would CW … who was effectively pushed… write up such a glowing and detailed RNS on his way OUT?
We’ve had bugger all in most updates … that was without doubt THE best rns we’ve ever had.
As shareholders we have 28 days to get out with what little pennies we have left … and us all selling up makes zero difference to tang or even GCM … IF the plan is to delist, the shareprice means nothing. So why not just give us the usual standard update rns and let us get out too.
So why CW gave us such a good RNS? Why bother ? It makes no sense. And why did someone jump in with £500k? Again makes no sense at all!
Maybe … just maybe the plan is not to delist at all.
Maybe CW was pushed to make way for local NEDs so he knew he had to leave in order for this to move to the next stage.
Maybe his RNS was a little “hold tight not long left” message to us long standing shareholders ..
Maybe just maybe this really is it… and we can all have that £10 party after all ! :)
Also… maybe delisting polo was part of the larger plan to help fund GCM…. By delisting Polo Tang was able to keeping pumping polo money into GCM without having to ask for Polo shareholder approval.
Why would polo shareholders keep approving endless loans to GCM ?
Maybe delisting polo was a shrewd move to keep GCM … the bigger prize…. Afloat.
“Another 4.2 Million delayed trades”
Rollover?
Observation……. not invitation by the way 😉 😂😂
Bangladesh's Energy Division Faces Dollar Crisis: Overdue Import Bills Surge to $670 Million
https://bnnbreaking.com/finance-nav/bangladeshs-energy-division-faces-dollar-crisis-overdue-import-bills-surge-to-670-million
Another 4.2 Million delayed trades
Is this what it is now - silence until the inevitable news that “we have failed to appoint 2 x NEDs even though it a piece of pi55 to do exactly that”…we’ve not updated shareholders because we’ve been sat sat working out how to do t up the proceeds of a private license sell off back to the GoB and the Chinese…etc, etc”
Keeping shareholders up date with developments has never been the company’s strong point I suspect the rns will come out the blue, GCM keep a tight ship and usually give nothing away, a lot rests on the next rns , let’s hope it’s a good one and not to far away.
Has anyone spoken to Gary Lye or any other potentially more reliable source about the NED situation?
Mr Bangla agree on main points. Just that think any NED announcement (assuming it come) will be around time of AGM.
Also to be balance do not have crystal ball to know this for sure but just how we often do see news release timings.
🦉
Flip side just for balance, the longer without the neds being appointed the lower it will go