Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Ha ha life is hard had to look him up and believe it or not my one time attendance at a football match in Scotland was at Starks Park.
For context Coggy I went to school with an ex Chairman of Barrow
Mapp is filtered and is treated like a spy.
BY the FCA? Hooray.
There is a lot I wish to say.
Filter away jmolina, only responding to lighthearted messages. Better than the real spammers, but again feel free to filter šš
You seem like a nice and genuine fella Lifey but please, for the love of God, stop with the incessant spammy posting.
Maybe get a chat room somewhere else with Lady Mapp? x
Ivyspivey, thatās very good š¤£š¤£ but donāt ever underestimate the power of Brian Potter, he made the Phoenix club rise again! Just like our leader will do with our company šŖšš
Lovely lady Mapp, no movie made without you, you could be our Grace Hawkins ( Maggie Smith in keeping mum ) who silently kills off the enemies like smelly sausage aka Billy Bibbet, Mission impossible 5 eat your heart out.
It will be a box office success, just not as big a success that our leader ā Sā aint āNāick is doing right now for us and our companyš
GLA real holders
Fulham John... "That's nonsense - there is no numeric percentage of creditors that need to agree. It is purely on value and that value is 75%" š¤”
Life, look forward to your film when I am the wise one.
Shall dress up in style, not look like a nun.
That film will be comedy or a tragedy without me.
Never mind Brian Potter we could do with Harry Potter.
Hope you are well Coggy
That makes a lot of sense Looed, but I think SN was singled out and thanked specially for arranging the meeting and seemed to be in the center of the event (that is what I find fascinating when his company was in a mess).
My comment about the ādire position with the GGā is in reference to no clarity on the expired PSA or any news/agreement on how FRR was going to settle the outstanding legal costs that FRR was ordered to pay by the Arbitration Court (c.$5m?). Until this issue is amicably resolved, there is going to be some apprehension. But alternatively, they may have accepted SNās version that ZM was the main protagonist evidenced by him openly and blatantly lying in the media that the Arbitration Court had sided with FRR. Then there is also the permanent injunction order granted by the Texan Court.
Also, if I may, any recent interaction with the company and if so, whether you noticed any change in their approach since one of our members made contact with Deloitte. Thanks in advance.
Monti - I think it makes sense that the Georgian Ambassador visit Texas to meet heads of business and promote Georgian exports. The Ambassador has a lot of connections to SN / FRC both during his tenure in government and now as a career diplomat. As an example, he was very involved in the āSenators lettersā incident so he dealt with many of the senators who wrote / visited Georgia. Perhaps that interplay played a part in his selection as Ambassador.
He has spoken many times about FRC, adversely at first but then more warmly as the government suspended the termination and as matters relating to ZM unfolded. Also, the GG entered into a MoU with the company, so another reason to meet and update on the current situation (especially as the WUP was inbound). SN has deep connections in the industry, so it makes sense to include other players and related businesses, especially if Exxon / others are trying to grow their footprint in the area.
What is the ādire position with the GGā you mention as I donāt recall any recent statement from the Georgians to that effect?
Looed: āā¦ā¦.That deal was completed about 6 weeks before the Ambassador meeting. So that might, at least in part, explain the Georgia connection.ā
Hi Looed, what do you think could explain SNās connection for being at that meeting, noting FRR dire (on the face of it) position with the GG and potentially an already expired PSA?
Practically, what i have seen is that majority debt holders (although minority in numbers), normally get their way and it up to them to convince the ālittle fish creditorsā to side with them otherwise nobody gets any thing given, especially noting the financial predicament of the company. But if this does not happen, then the Court nearly all the time approves the big holders proposal but this is a long winded process and perhaps Deloitte could play an important intermediate role here.
Similarly, its a bit like the small fish shareholders here giving it the big āun by taking the high moral ground and demanding us to contact the Liquidator because they have less to lose, compared to the poor old punter who has probably over invested. Sure, morally it sounds great but I rather be in SNās camp than trying to be a martyr.
The rule is as follows (assuming you are discussing Scheme of Arrangement which uses the 75% rule) -
"The āheadcount testā still applies to creditor schemes of arrangement meaning that the approval threshold is a majority in number representing 75% in value of the creditors or class of creditors (as the case may be) who are present and voting either in person or by proxy at the relevant creditorsā meeting."
https://www.conyers.com/publications/view/schemes-of-arrangement-restructuring-in-the-cayman-islands/
Or another way to explain it is -
"At each meeting ordered to be held the Scheme has to be approved by a simple majority in number (minimum 50%) of those present at the meeting and voting either in person or by proxy, provided they represent 75% of the value of the Class. Both requirements must be met, so a Scheme will not be approved if the simple majority controls less than 75% of the value or if those voting for the Scheme have more than 75% of the value, but represent less than 50% of the number of Stakeholders attending and voting at the meeting."
https://www.bedellcristin.com/knowledge/briefings/cayman-islands-scheme-of-arrangement-what-affected-creditors-andor-shareholders-should-know/
Should a class of creditor dissent, the courts can force the party to accept a deal ('cram down') if the proposal is neutral / beneficial had the Scheme not been proposed.
Gotreal "MontiBurns ..... No - its >50% of the number of creditors...... If 100 entities are owed money, 51 have to agree with the propsal."
That's nonsense - there is no numeric percentage of creditors that need to agree. It is purely on value and that value is 75%
Hope so Life, jolly well hope so.
Happy to play Brian Potter in your upcoming film by the way, although I've never watched any of the series. But Brain Potter as you've cast me, sorry but I've never heard of him š¤£š¤£š¤£
You will possibly need that coat for a sharp etc from Woolies window Coggy?
It was a response to your memory comment. Never mind, I'll get my coat. š¤£
Mmmn im beginning to think its someone from the cia stalking me. no one is safe until this is all over
Thanks for sharing. That deal was completed about 6 weeks before the Ambassador meeting. So that might, at least in part, explain the Georgia connection.
The implementation of a joint project between the national company KazMunayGas (KMG) and the US-based ExxonMobil will make it possible to increase oil production at the Tengiz field in the Atyrau region to 40 million tons per year, Report informs referring to Kazakh media.
This issue was discussed during a meeting between KMG Chairman of the Board Magzum Mirzagaliyev and ExxonMobil Senior Vice President John Whelan.
āCurrent issues regarding the implementation of joint projects were discussed. In particular, construction is currently at the final stage as part of the future expansion project (wellhead pressure management project) at the Tengiz field, which should ensure an increase in oil production to 40 million tons per year,ā reads a message from KMG.
The parties confirmed the importance of ensuring reliable oil exports through the CPC pipeline, and also noted the fruitful joint work on diversifying export routes, including in the Baku-Tbilisi-Ceyhan (BTC) direction.
They reviewed the issue of Kashagan development and emphasized the strategic need for timely implementation of further stages of the fieldās development.
By the end of this year, the volume of Kazakh oil transported via BTC will be increased to 1.1 million tons.
https://report.az/en/energy/kazakhstan-exxonmobil-eye-increasing-production-at-tengiz-to-40m-tons/
Who's this Tabs?
Tabs: āWhile we sit not knowing for years on end whats happening about our company they have meetings with all and sundryā.
This is a good thing, right? I mean a company that is financially insolvent, fighting on multiple legal fronts for years on end, yet somehow continues to be in the middle of some big meetings involving major companies and political figures. How and why? Plus, letās be honest, we donāt know how dangerous these dark forces are but can we really underestimate OMF/Hope or for that matter ZM and his Georgian political associates given what has happened in the recent past (ie blatant lies, shameless back stepping, knowingly breaching market laws and embezzlement)? Then there is the ongoing liquidation process with FIC which could also throw up any thing. In fact you could even argue that there are some naive shareholders whose actions may have not helped either (I mention no names).
Having said all that, I am empathetic to the sentiments expressed by Tabs, especially as the āuncertainty axe continues to hangsā over all our heads until SN speaks to us.
Tabs, you had me at ā our ā
I knew you still held hope, nice to read at bit of dark humour from yourself and great to see Looed getting involved.
Keep the faith real holders, as hard as it is, our leader fights for us.
Nothing wrong with my memory
The meet and greet was discussed here 17th-18th November onwards. Perhaps those dark forces are affecting short term memories.