Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Good news!
RRR's shares were always going to be locked up for 6 months, during that time the project would have drilled at least one well. RRR can only make a 'killing' if the well is sucessful. The funders would never allow prior shareholders to sell before knowing if the project is a success or failure.
The reality is that RRR/AB have dramatically over promised and under delivered this year (prior years as well). There is a reason why the share price is at .36
My best guess- a placement of about 250,000-500,000 this week and then next week news on Congo. Look for friends and family in the placement
I think some of Bell's supporters believed they were going to make a killing out of the Elephant Oil float by now and generously have been supporting him (and Red Rock) over the last 9 months - it looks like that supposed nest egg may be hitting the rocks.
I made a prediction some months ago that nothing material from would come from RRR by year end, that looks nailed on right now.
Bell was recently ridiculed on Twitter by Tom Winnifrith who made it plain that certain claims and promises made over the last two years have come to nothing and Bell needs to sell an asset ASAP - we all know what is coming next, it starts with a big P - we are pleased to announce the company has raised £££.
It's all water off a ducks back to Bell, in fact I think he thrives on the negativity about himself.
Sorry it's dollars not pounds.
I forgot that AB had found some g?u?l?l?i?b?l?e? HNW investors to invest £100,000 for a 10% share in it's Zimbabwe lithium project.
https://www.lse.co.uk/rns/RRR/lithium-update-1hru4cqi114er1b.html
Extract from above 6 May 2022 rns:
"Ø A group of high net worth investors has acquired from the Company a 10% early stage interest in the Project for a consideration of US $100,000.
Ø The consideration funds will be applied to the development of the business of ALR."
......
I don't usually praise AB but him getting £100,000 and giving away 10% of something potentially worthless seemed a good bit of business by him. Mind you i bet that £100,000 has now long gone!
https://iclg.com/practice-areas/mining-laws-and-regulations/zimbabwe
Helpful accusing people of making stuff up? Jeez....you couldn’t make it up
generic info on Lithium is nice but it would be significant if we had more results from RRR's activities on their lithium property
https://twitter.com/benchmarkmin/status/1600432841820495874?t=MikW6ktq8bCA9juYir9onA&s=19
Another one that makes stuff up. You, quite clearly, are not familiar with the US listing process.
Fingers crossed.
This is the forth downward writing of the EO prospectus, it looks to me as they are really struggling to get this away, not once has Helpful mentioned this aspect. As per an earlier post every time the monetary value of the raise has been lowered - from $20m to the current (and final attempt) of $8.5m.
It is stated in the document that EO has material liabilities ahead of listing, one wonders if this what has scared off investors.
It is last chance saloon for EO, if it cannot raise the $8.5m at the final attempt it is curtains for the lPO.
Whilst this farce is not directly associated to Bell it is typical of the situation at Red Rock, hot air and wind, Bell has been tweeting about the Glencore settlement with the DRC, all well and good but this will not bring money into Red Rock, the only money coming into Red Rock will be the upcoming fund raise, something Bell is very very good at.
I note, with clarity, Helpful refuses to discuss this topic in any shape or form.
7.5m buy filled from yesterday. Trade show after hours
ultimately ELEP will be totally dependent on early results. Existing shareholders have a 180 lock up preventing any sales by RRR
meanwhile the tweets from RRR just keep repeating the Australia information
Probably no surprise due to pending GM to approve more shares. No doubt with warrants attached. Watch for news AFTER the shares are placed with select 'friends'
Embarrassing. $20m in Mar -> $15m in Aug -> $10m in Oct -> $8.5m in Dec.
In less than a month the planned proceeds for exploration is down 33%. For initial surveys and license fees in Namibia - down 25%. For further expansion of portfolio or further exploration activity of existing assets - down 50%. For working capital - down 23%.
So $6m net and the greedy twonks running the show will take a quarter of that just in salary in only 2 years.
Helpful, you really are a bad liar - "means less dilution for existing shareholders". Sure, so barely any funds left to run an exploration company. There will be a seriously discounted placing in very short order and those existing shareholders will be very much diluted. It's a prime example of a lifestyle company which will achieve nothing.
The kicker is that due diligence is back en vogue and who the hell is stupid enough to support this crock? I'm waiting for the failed IPO and then a comical $2m raise on AIM. If it does get the US IPO away then the need for cash (if it actually has any ambition of exploring) will make this balance sheet item tend towards zero in double quick time.
I had information I could post. I posted it within minutes of it being in the public domain. Either there is no other information or the information cannot be put in the public domain or information could be posted but people would say it was boring. How about analysis saying that Lithium is going past $90k?
This now means that EOC is a lot closer to listing.
DYOR
nice to see something on Elephant but those are events which AB/RRR do not control. What about progress on activities withing their control? Congo? Kenya? Australia? battery metals?
S1 and Free Writing Prospectus updated
https://www.sec.gov/Archives/edgar/data/1865833/000121390022077776/fs12022a4_elephantoil.htm#T8
The $8.5mil is the minimum that needs to be raised: this is a NASDAQ requirement. EOC can raise more than the $8.5mil but not less: the lower it is, the easier it is to get EOC listed. It also means less dilution for existing shareholders.
Getting closer.
DYOR
As we all know, 'ESG' is becoming increasingly important in the mining sector. The 'G' is for governance and these sort of corruption scandals are very damaging as a company will lose support from institutional Investors which puts downward pressure on its share price and increase the cost of funding
If a large company is embroiled in a corruption scandal it will usually pay off legitimate claims against it to draw a line under the scandal. This could be very good news for RRR and certainly strengthen its case. Although RRR is small it is publicly listed and could create negative PR for Glencore which may be more damaging to it's reputation than the amount claimed against it
Not sure that any of that money will come our way: it is a settlement between Big G and DRC. We know that the VUP, Gecamines, Big G transaction was one of the transactions that the DRC was pursuing.
Obviously, I don't know but it looks to me like Big G's possible defence is getting weaker as time goes on. If they have admitted that this was one of the corrupt transactions then where does that leave us as the party that was defrauded?
Given the choice between pursuing Big G for a really big number and settling now for just a decent number, I would take the latter.
We just need this Arbitration finally signed off and then we can try to make progress with Big G. Eventually all these things time out, hopefully we are very nearly there.
DYOR
The money is to settle for past and future corruption claims. If AB was negotiating with Glencore prior to our mine being stolen then dare we think that some of this money might come our way? The courts there have proven our earlier claims were legal. Surely things must now be sorted pronto?
time will tell
More fool you if you believe this Glencore action is real.