Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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"The Tanfield Board takes the view that although all the signs are very positive and the fact that significant debt holders have now converted their debt to equity, thus sharing the risk with all other shareholders; there still remains an element of risk that the Smith Board will not succeed in its plan or achieve the indicative timescale. It considers that it has sought to fulfil its obligation to its shareholders in seeking to optimise the value on its investment in Smith. The Board will endeavour to return value to shareholders as soon as practically possible."
With yesterdays RNS = combined NAV of 36p?
Should do very well today...
Fantastic news....................................................all resolutions passed and I didn't get time to dunk my digestive.
You can buy a big box of biscuits for £1 in a £ shop
Hopefully free biscuits and tea.......the only divi I will get from TAN.
anyone going to the AGM today? Why bother!
Unique these days to see any trades on TAN.
Al little mention in today Times paper with a hint that the current price seems to be a wee cheap.....but is it???... this company gone into hibernation and lost all their past prospects,will it stage a come back??? I still got few in the bottom drawer and little hopes.....GLA.
Our only hope is for sev to be listed, that way there will be a value placed on tanfields investment, and hopefully will cause tanfields price to go up....... Ive been holding on tanfield for years...... Missed the chance to sell at 80p.....
http://www.otcbb.com/investorinformation/investorinfo.stm I thought originally SEV was aiming to list on Nasdaq! OTCBB does not trade listed shares. As the name indicates it's an OTC bulletin board which 'does not trade in listed securities'. So either this is a first step on the way to a proper market listing or SEV has seriously pulled in its ambitions to list. I'm not sure therefore whether Tanfield will be able to use an OTCBB price to fully value its holding in SEV. They could trade out of them if there's enough liquidity on the OTCBB but that's the problem, there usually isn't. Still, on the positive side, at least we will get some sense of public value out of this manouvre and TAN could use that as a reference point for a private block sale.
Smith Electric have acquired an 85.3% shareholding in 'American Business Services Inc". Never heard of them. Viewing the website homepage has breaking news dated July 10 2013 - says it all really.
Out!
http://www.thejournal.co.uk/business/business-news/tanfield-group-looks-forward-strong-7203384
Are out. Can't get too excited but let's see what the market thinks. ATB
2 June they now claim - lets see
The results that were due at the end of March 2014 then April and then some day in May have not appeared. Either the management are incompetent or the results are bad or both.
From the 2012 accounts: "During the year, Tanfield's holding in Smith Electric Corp was diluted by successive fundraisings.......... It is therefore now treated as an investment. As such, it is now being held at the lower of cost and realisable value. Whilst the realisable value of a private company is difficult to estimate, all valuation discussions in relation to recent fundraisings by Smith Electric use valuation ranges well in excess of £1.3m which is the recorded cost of the investment. The investment is valued at cost, £1.3m." In addition there is a loan to Smith Electric of pound 1.8 million recognized in assets.
The 2013 results that were due to be released sometime in April will be released sometime in May. Usual attitude from Tan management - I mind a few years back on the morning of their AGM they cancelled it !!
Are you sure Germanicus. Isn't that the loan? TAN has always said that without a listing it's not possible to value Smith equity holding. It would help if TAN produced its 2013 annual results! They said on two occasions earlier this year these were intended for publication in April but no sign yet! Can't be difficult - it's a holding company!
Actually Tanfield recognizes pound 3.1 million in relation to Smith in its balance sheet for investment and receivables. Based on ending up with a 4 - 5% stake in Smith that may be around the value of the investment it ends up with.
At the moment the Smith stake is not valued in the Tanfield balance sheet. It never has been. A listing will automatically create a value and allow TAN to sell the stock on the open market (unless there's some sort of handcuffs on the TAN stake which is unlikely). So finally TAN will be able cash it in. But there's been so much dilution over the years it's difficult to work out how much it's worth now. The good news is that whatever they get will be distributed as a special divvi. It won't cover my losses but it means it's worth holding onto what you've got until it comes through.
Hopefully still something to cling to. But for how long, 6 months in this case but what about results? which will be announced earlier. Think I'll get me rabbits foot, white heather, and worrybeads out, should be fun.
Message posted to wrong board, who would buy these......