Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Not exactly new now and they have had plenty of time to put a more positive view on the future of the compamy - which imho they have failed to do. Still a long way from sure whether or not this will multi bag or go bust. Please bod give us something positive to hang on to.
Atrocious spread along with no news makes for pathetic volumes, back to the gardening.
We have a new BOD............? jeez..........
reading some of the detractors on here (except Alfie :) you'd fink Ritson was still sat in the large leather chair............ :()
All the best (anyway, fanks for making me/us aware again Perks......... New BOD everyone :)
Hi Alfie, indeed the old BOD, NR & Co made some investment blunders in the past, thankfully way before I ever heard of SOLO oil and NR. Not sure what the very long term holders could ever do about it, was adequate DD done? what was the Oil price at the time when they were bought? As NeilHannon points out, high risk countries come with high risks especially when the political situation changes.
GL hope the new BOD help you recover.
sorry I cant write im so frigging upset - should read this is NOT government money
Cperkins - I appreciate your on this board often (all the time, some might say) but cmon the investment solo have made into the burj and Pan has been utterly disgraceful …. I appreciate it wasn't this CEO etc but still I hope there is a path for bringing RITSON to justice / account on this ….we should not be just sweeping this under the carpet …. would love to know if this is boarder line criminal to invest shareholders monies (millions) into what has clearly turned into NO value whatsoever.... £1 return from the millions spend ….. this is government grant money this is our money.... would love to know what BD thinks of this as Ritson it appears should not have been running solo or a caveat should have been in place to pay his wages based on performance …. this is absolutely disgraceful ...IM FUMING ….. I cant believe it a £1 return on millions …. any lawyers Finance guys out there..... is this not for the FCA to look into ?
Just makes you feel sick knowing that NR was paid a hefty 6 figure salary for throwing our money down the pan. Can't believe that the new bod have just had a jumble sale which people seem to be pleased with. What have they actually done in the last 6 months to raise the SP? Oh nothing as it a lot lower now than when they took over.
Agreed as these dead investments still have operational running costs with wages and utilities etc so whilst it may have gone for a pound the continued savings will be much more substantial. Well done board this company is beginning to transform and i’m Sure all investors will reap the rewards. Keep the faith.
Excellent.....a deadwood investment off the books. Next up.....Reef.
These guys are the real deal. The start of the SP recovery will happen within the next couple of months.
Which will come first, Ruvuma license or acquisition deal?
The nightmare for LTHs is nearly over.
On a lighter note. Life after Solo for the ex-chairman.
https://www.neilritsonwindows.co.uk/testimonials/
Well if his closing statement refers to the wording 'further progress' (which it does) I must be living in cloud cuckoo land expecting a future return from this company.
Well at least they can assign this loss to the taxman after they harvest all that expected revenue in 2019/2020..
{«Shocking»}
Another piece of dead baggage dropped, which is good,
Note "Near Term" significant use of language?
divestment of all non-core assets and focus our attention on building the Company going forward around cash flow from high quality assets in low-risk jurisdictions and we look forward to updating shareholder in the near term as further progress is made.
Cost avoidance - job done providing the transaction is closed of course.
Bod deal and licence is what we need to see.
All down to the pension expert, and all the other fantastic compliments written about him by his adoring fans on here, smiler.....our ex resident ceo Ritson.
I’m not sure if the investment has been written off in the accounts.
Another heads of agreement for reef seems we are still waiting.
Another £1 in the tin maybe.
That would be a return of £2 on an investments of over 2.5 million pounds.
Shareholders money of course.
Enough said.
Think most had wrote this off anyway . Never actually understood what was going on or what it was about . Least there is no come backs if it goes throw.
check out RNS 6199L dated 29/04/15
Transfer of PAN asset to Burj + purchase of additional shares for a 20% holding - total cost £1.1m
£1.1m converted to £1
Phenomenal ROI!!
New strategy in place to divest non core assets.
£1 in the petty cash tin .
I’m sure the fees involved were many thousands.
Not a very impressed shareholder.
Caddy, well done on Oex, I'm still waiting for Solo to move but it's taking it's time I admit,
Dont be convinced by others, be convinced because you have done your homework and it stacks up, that way you only have yourself to blame if it doesn't work out, no gain in blaming others or the company then ( for a decision you where responsible for, Good luck.
Some very ambitious predictions for a company that has failed for the last 8. years. I was almost convinced to invest some more what it was stated that a rerating was taking place last week. At least OEX gave me a bit to smile about today and this could happen to Solo. Even then the SP went up 150% then fell down to 70+% so some must have got their fingers burned. Look out for it tomorrow though as it will be much more interesting than Solo.
It will be interesting to see how the market reacts to the two company's strategies.
AEX - fully funded for Rumuva (£35m plus £5mil) and likely to sit it out until commercial.
Solo - not funded but likely to cash in Rumuva (or at least in part) once license is out (more likely at a premium to what aex sold its stake)
Aminex of course and not amines as my phone prefers :)
Aimster, amines may have a third of what they had back when nt2 was drilled, but they have funding for many more drills and the pipeline to make it commercial. It’s a very different circumstance even if I personally think they could have got a better deal under better management decisions.
Also forgot to mention RockRose SP went from 50p in Sept 2016 to 1800p in Sept 2019.
While my better half is watching Suits (TV program), I spent time doing a little research.
ArielArrow mentioned that he spoke to Jon Fitzpatrick at the AGM with regards to the new Solo Strategy model being similar to RockRose, in which Gneiss was involved to some degree. Below is an extract from the RockRose website:
RockRose Energy was founded in 2015 to identify onshore and offshore production opportunities and infrastructure projects. Focused on building a low-cost E&P business of scale, the Company grew rapidly through the acquisition of packages of non-operated assets, predominantly in the UK North Sea. Early acquisitions included the purchase of asset interests from Egerton Energy Ventures, Sojitz Energy, and Idemitsu in 2017. The production and cash flow provided by these deals created a solid platform for further expansion.
In May 2018, RockRose agreed to acquire a package of non-operated producing assets from the Dyas group of companies for €107 million. On completion in October 2018, this transaction increased Group output to over 10,000 boepd. This was followed in early 2019 by an agreement to acquire Marathon Oil’s UK assets, which completed in July of the same year and increased the Company’s production to over 20,000 boepd and net 2P reserves to 63 MMboe. With the Marathon Oil acquisition, RockRose took on the role of operator for the first time and enhanced its ability to participate in pre-production appraisal and development projects.
With a fair wind then long before Aimster & lets see what the bod's first deal yields.