Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Timing, its all about TIMING and we are almost out of it. Really frustrating as we have it all beneath us, we just cant access it. Not sure we can bumble along the bottom for 5 years to wait for the value of gold to go that high, still with the amount we are extracting I doubt it would pay for the fridge electricity bill in the staff room. Dammit.
We shouldn't undervalue crnd's main asset value potential. An article in this weeks Creamer Media's Mining weekly: "Prices [of gold] could surpass $5 000/oz in five years, from about $1 280 now, as investors seek returns amid a prolonged period of cheap money and use the metal as a haven from geopolitical and financial risk, McEwen Mining CEO Rob McEwen said. "
Sorry forgot to add, the concentrator circuit should be up & running within in week if installation & commissioning is on course. However, with the grades recovered from the waste mine dumps, it may not perform as we'd hoped. Even the replacement AGM results for the Ordinary Resolutions still add up to more than 100%: https://www.sharenet.co.za/v3/sens_display.php?tdate=20171121122500&seq=36&scode=CRD I think we need a minor miracle!
Si, I agree, I don't think our Chinese friends have the funds to develop the underground mine either, hence where we're at and having to use Bergen / potentially issue a shed load of new shares to raise just �750k to stay afloat. I think as soon as our Chinese get their hands of CRND NV assets, they will offload it on to another party debt free at a profit. It needs someone with cash to throw at it / who knows what they are doing to release it's true potential. It's clear the processing business i.e. third party / processing mine dumps is more of a distraction & doesn't generate the turnover/profit it was intended to. As for the mine dump grades not being as expected, they clearly weren't very thorough in checking numerous samples before signing on the dotted line / agreeing a deal.
Winston, we know the proverbial white flag was raised a few months ago, a sum of $20m is required to extract some of the potential in our mine. I'm not sure our Far Eastern friends have enough to see it through to the end. I dont know much about RR, but if they were interested, and we are now floundering, a little bit of patience on their behalf and they may end up picking us up for literally pocket change. I wouldnt bank on anything from PUNO, they still have a few cases outstanding against us but these now have little or no chance of success... but they cost us money to defend. I'm going to sit this one out and hope I may get a few pennies in the pound at some stage. Someone will pick up an absolute bargain of the century. Si
Gibbo, Any idea if the asset sale has been marketed beyond our Chinese friends? I'm surprised someone like Randgold Resources aren't interested, they could buy it for pocket change for them & have the funds to develop it and already operate in SA. Especially, now the infrastructure is in place to de-water the mine, the water level is still falling and now down to 172 MBS. It's a shame we have got the funds to re-commence under ground mining. Plus there's still been no mention of recovering the Puno award!
No, definitely not Simon Charles... did make me smile though....I thought I offered a balanced viewpoint on where to lay the blame. Whilst I agree the management has been atrocious, I dont believe they can be held responsible for the mine flooding or the pumps arriving late and not working as well as they should. The quality of the tollings needs to be looked at as I believe we were seriously misled on these figures, especially as we have the concentrator coming on line in December. Would we have bought it without these inflated figures? But then would we be in a position to extract more gold from lesser tollings? It all boils down to a simple equation, we are not getting enough of the shiny stuff from the ore we are working, our overheads are too high and we owe too much money. If I were to put a percentage on it, I would say the blame could be apportioned 60/40 management / situation. But thats just my thoughts.
Got feedback from the JSE. They are investigating the votes irregularities with the sponsor, awaiting feedback. Is there anything you ladies and gents can do from the UK. We have been lied to long enough. (If a company goes under, whom do you blame / who is responsible - cleaner, gardener, clerk, truck driver or the people paid to manage it??? Hence the word MANAGEment).
‘ but I am not certain everything can be aimed at management ‘ !!!! Are u serious gibbo ? These shysters have taken money out our hands and used it for god knows what! You sure you’re not Simon Charles ?
Trying to catch a falling knife or not. The management must be held accountable. The misinformation and lack of action is ludicrous.
I wish u well BUT there is so much i disagree with that post lets start with this "but i am not certain everything can be aimed at the management"a management that does not do mathematics ,the previous vote numbers that did not add up many could see that on this board and they had to release a new RNS so with the AGM they got round that by using percentages to hide the true figure but it still did not add up.so can you see that ?
Disgraceful shambles, but i am not certain everything can be aimed at the management. Some of us bought into the potential back in 2006, made a few quid in 2015 with the 4 x MOU's and then chased her all the way down... catching a falling knife I think its called. I'd like to see the paperwork for the tollings and the grade we were supposed to be getting from the 2.3million tonnes we bought, its apparently no where near as high as initially quoted... no where near! Our mine flooded and we bought some pumps, well that took a few years to get into place and we are still underwater. There isn't enough raw material within a commercially viable distance for us to partner with, I find that very hard to believe as we are slap bang in the centre of Gold area of SA. I think we have run out of time and possibly the patience of our investors. We can all shout at the screen, make some ripples in the pond, but ultimately we are seriously out gunned in terms of voting shares. I have spoken to Simon a few times ( to his surprise I have been the only one to make contact... read into that what you like ) and he is still working to get something back for the shareholders. I wouldnt expect it to be much, but something is better than nothing. In conclusion, we have had a mixture of extreme bad luck, poor management, poor machinery & maintenance, poor raw material grades, high water levels, and low Gold value conspiring to bring us to our knees and more than likely out for the count. Its been a ride I haven't enjoyed, but I have learnt a few valuable lessons, just wish they hadn't cost me quite so much. Good luck with your future investments. Over and out.
I Agree . It’s a shambles. What are we saying ?
Below is the email for the JSE. The more of us lodge concerns the better. Let's get to the bottom of this. Info@jse.co.za
If that is the case, they should be reported on the JSE and investigated. We cannot be taken for fools each time information is released.
Gibbo has all their email addresses & has posted them on here previosly
This clearly shows that the votes are not regulated, and they can pretty much put what ever they want down, if that is the case, then it is illegal. They are just a bunch a crooks. Anyone have an email for them?
clearly shows how incompetent the copany is. They just cant get the figures to add up, first the Puno calcs, then the water levels and now the agm results, unbelievable!
Here's a link to the results: https://www.moneyweb.co.za/mny_sens/central-rand-gold-limited-results-of-annual-general-meeting-5/ I wonder if they remembered to include all votes?? Interestingly, the totals for each resolution exceed 100%
All resolutions were passed. 90% plus in favour. What a mess. I guess we did not have the critical volume required to sway the votes.
Do not worry guys and girls someone just give them a abacus.
Well I did, so later today we will find out.i wonder if we will get anything else along will results We will have to look jse for a RNS or the company website for news as we now de-listed from the AIM
full of rain water & slime, now that's done - Buddy can you spare a dime?
others will take it at shareholders expense
Thanks. Hope your wrong. Just wanted to be ready to pounce when the sell was live. Any recommendations on a broker?