Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sound like a positive thing. Lets hope this is indeed the case.
Pack it in you tool.
Late afternoon....premium buying
Circa 30% premium to current price. The loan note holder is willing to convert the loan to shares at a price of 0.20196p which is well above the current share price of 0.155p. Also the loan note holder is giving up earning interest on the loan note. They would only do this if they thought there would be a significant rise in the share price.
0.20, so they are are confident of making money on those. Nice.
Red Rock Resources PLC
("Red Rock" or the "Company")
Issue of Shares upon Exercise of Convertible Loan Notes
Total Voting Rights
22 August 2023
Red Rock Resources Plc, the natural resource exploration and development company with interests in gold, copper, cobalt, lithium and other minerals, announces that it has received notice of conversion of £52,509.60 of Convertible Loan Notes, inclusive of interest, into 26,000,000 ordinary shares at a price of £0.0020196 per share.
Red Rock also announces the issue of 50m warrants exercisable into new ordinary shares for 2 years at 0.2p to an unsecured lender, subject to a grant of authority at the next General Meeting of the Company.
Admission to Trading on AIM and Total Voting Rights
Application is being made for 26,000,000 Shares to be admitted to trading on AIM, the admission of which it is expected on or around 29 August 2023.
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following the issue of the Shares, its issued ordinary share capital will comprise 2,570,097,791 ordinary shares.
Https://twitter.com/gannonbreslin/status/1693995076383568195?s=20
Longterm - what has got you buying back again?
I too am no AB fan - although that sentiment can change as we know with George Roach over at PREM and many other past 'villains'. Like you I think the risk v reward is skewed overwhelmingly to the upside from current price and mkt cap. The sum of parts on the Lithium asset in particular seem to be clicking into place at some pace and urgency now probably because the private funders of ALR are pushing AB hard as they control the loan notes and warrants here so he seems to be complying by taking the advice of his newly appointed geologist and the visiting third party our likely jv partner whilst engaging the chinese as well, to do all the heavy lifting. The DRC seems to be 'imminent' again. Cash wise on 21st June they raised £236,032.38 + £60k of own cash to settle the CLN & Debt coversions which were killing the price with Riverfort & Diversified Metals. This was an essential for me to stay positioned.
On 11 May 2023 they raised £535,840 for work cap & a further £288,750 on 22nd June. So should be a decent amount there still, free of the 'toxic' CLNs & Debt which is very important.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Longterm
Posts: 473
Price: 0.16
No Opinion
Bought 32 million sharesToday 09:23
As helpful knows (and we certainly have our differences, many, as there are many negative things about how this company is run), I rarely get my timing buying into this share wrong, sometime yes, but I’m in again here, in decent size. 10m as well this morning that doesn’t show yet.
I’ll always give a balanced view - lots that is frankly a comedy show with how this company is run, but the risk v reward at this level/time means I’m overwhelmingly in. Funny enough, the last time I owned 22m shares in this company I had to file a TR1 for being above 3%. Now 35m doesn’t even get me 1.5%. Says a lot, but there’s other positives to say too, hence my decision to re-enter
This share has many short term problems but the day trading is doing my head in now. Should be above 0.2p easily just now. Hold!
32mil buyer today saying he doesn’t get his entry wrong.
We all know that this is about to make bigger moves to the north!!
Now supported by another old shareholder!!
Multibag alert here!!!
Look at all other lithium plays.
None of them is below 30mil mcap!!
We are coming into category of prem soon with JV done! But will be one step ahead with having 10mil usd in hand!! While prem is struggling with debt!!
Prem mcap is 80mil, RRR mcap is 4mil!!
We got huge upside from here!!
Hold tight and filter these negative muppets,who got no money to invest and are just posting for someone sitting in boiler room(none of them even have money to subscribe to LSE lol)
"I am glad RRR/AB is taking precautions"
He's always gone bare back in the past. Look where that's got him!
TDT
Robins, that was less of a fluke but in a way yes. If you remember we were after tailings and they kept being taken away. Musonoi and the other two licences were awarded as "compensation" for all the messing around. AB knew from day one what was there, check out the interviews from the time. He was on to Glencore about it pretty soon after we got it. The fluke bit was that there was a moratorium in place on the award of new licences and we only got Musonoi + 2 because it was "compensation".
I would bet that Glencore was spitting feathers when it found out.
DYOR
Longterm. What are your thoughts about the possible next fundraising here and its affect on the SP?
Needs some buys and this could go.......
3 percent now.....buyers coming in expect a string day today
We will see many shakes like this along our journey to multibag!!
Do some research on other shares like kod,prem,vast etc. there were muppets sitting on board and posting negative all day long.
Buyers were chased away from buying.
Look what it did??
Multibag!!
We got many catalyst about to be issued!!
10mil usd coming as per interview within days!!
Selling to china means JV is coming!!
More licenses in Ivory Coast and Burkina Faso!!
Also more licenses grab In Zimbabwe!!
Hold tight and filter these muppets,lol.
Helpful didn't we already fluke a $420m oyster in the DRC but it slipped through our fingers sort of.
Welcome aboard
Https://en.wikipedia.org/wiki/Bikita_mine
In June 2022 the Sinomine Resource Group company bought the Bikita mine for $200 million.[2]
https://www.marketscreener.com/quote/stock/SINOMINE-RESOURCE-GROUP-C-22283330/news/China-s-Sinomine-invests-200-million-in-Zimbabwe-lithium-project-40753669/
Prospect Resources went to a Chinese company to talk financing and ended up being sold.
https://www.reuters.com/business/chinas-huayou-buys-lithium-mine-zimbabwe-422-mln-2021-12-22/
The World is full of oysters and RRR might have fluked on one.
DYOR
So lets do the deductions thing.
This is the First Equity Report: https://www.rrrplc.com/wp-content/uploads/2023/01/FEQ-Red-Rock-Resources-19-01-23-Buy-Note.pdf
In it FEQ assume 300,000 tonnes of 2% lithium ore to be produced over 5 years and sold in the local market. They say that on an NPV10 unrisked basis this is worth $39.2mil.
So it seems that was based on an assumption that what was at surface, was it. Now having had three sets of geologists look at it, it seems that this assumption is incorrect and that this particular pegmatite (Peg 1) continues into the hill and continues at depth.
We also now know that in at least some parts of Peg 1 the grade is 3%+.
We also now know that the geologists have now identified Peg 2 and Peg 3 with the possibility/likelihood of a fourth intermediate Peg 4.
To confirm that above, drilling will be required but it seems that the nearby Bikita mine assets do the same, they show at surface and then continue to depth.
Is there the possibility that this is just one super-large pegmatite showing at surface at different levels: it seems not.
The licence area is 51 hectares: 126 acres. So it is a substantial area.
Well what does that say?
1. No need for the 35% risk discount applied in the FEQ report, the volume in place is much greater than 300,000 tonnes.
2. This is now a much bigger operation than just removing 300,000 tonnes at or near surface. Remember the declared plan was to mine the first ten metres of pegmatite and then drill to see how deep it went.
3. This will now involve a complex mine design, operations plan and development plan.
4. At Tin Hill we have spodumene, petalite, tantalite, berylium and some residual tin. We don't know how much tin is left. The size of the site might now make it worth separating out the spodumene, petalite, berylium and tantalite for sale.
5. We are probably now looking at a long life mine: that is greater than 5 years.
Tin Hill is probably now large enough that the other licences are now are just cream on the top.
I don't know because no one can know at this stage but it looks like that there are several million tonnes of lithium ore in place at Tin Hill. And we we know at least some of it is in excess of 3% grade. FEQ's valuation is now well out of line.
If the above is proved up, then Tin Hill will become very attractive as a stand alone project for someone with deep pockets.
As the RNS states we now need to provide samples to potential offtakers. This is volume samples which they can process and it has to be representative of the pegmatite. So it is not little sample bags but truck loads.
DYOR
Wrong board 🤣
Yes
As helpful knows (and we certainly have our differences, many, as there are many negative things about how this company is run), I rarely get my timing buying into this share wrong, sometime yes, but I’m in again here, in decent size. 10m as well this morning that doesn’t show yet.
I’ll always give a balanced view - lots that is frankly a comedy show with how this company is run, but the risk v reward at this level/time means I’m overwhelmingly in. Funny enough, the last time I owned 22m shares in this company I had to file a TR1 for being above 3%. Now 35m doesn’t even get me 1.5%. Says a lot, but there’s other positives to say too, hence my decision to re-enter
Before there is nothing left here.