Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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it is worth reversing the thinking. So,
Why would APEC lie about the funding? If it was shown that they had been messing about all this time their reputation would be in tatters, no one would take them seriously again.
They had a perfect opportunity to withdraw from the farm in earlier in the year when the permitting process became so much more bureaucratic and the private member's bill banning O&G exploration was gaining traction. They didn't pull out.
Thos two issues are over FTTB.
I believe the RNSs that have been published. I believe that the money is in HSBCs hands. I believe HSBC are neurotic about funds transfers having been fined billions a few years ago. I believe they are doing lots of due diligence to make 100% sure there is no come back on them. I believe the money will come through.
Oddly enough, all these delays have resulted in a lot of RNSs, a lot of press coverage, a lot of BB chitchat and a lot of twittering. As a result, it has focussed the one investor community's attention on Barryoe. When the money drops, the volumes will be incredible. I'm looking forward to that.
thats my target by early Sept. first target. could well be even higher
Great blue finish... very encouraging to see a midday reversal I expect maybe a wink & nudge from someone has started this and if so we should have an even stronger day tomorrow and blast back to the mid 2's
BOOOMM Very STRONG Finish Coming
Up 8%
HSBC showed documentation to show the money coming
The Chinese could lie. But the Bank wouldn't
Money is coming
Accumulation happening, nice and steady and slow. Holders holding. Small sellers and T20's closing
Patience
News of funding landing could happen anytime!!!
Yes, a bit of a gamble, and yes £1k will become £2k and likewise the other way if no funds materialise!
However the money spent on ship coming over is a firm sign they are confident of going ahead in some shape or form.
I still also fail to see why the Chinese would be still saying money coming, if it wasn't, they have nothing to gain by prolonging a lie.
Its not like being owed money by Arthur Daly……..
The oil may well be in place, but an awful lot of money needs to be spent on appraisal drilling before we know whether Barryroe is commercial or not. If (and that's a big if) the money turns up this is still a gamble.
Totally agree Shibs. Made a modest buy of 76500 shares today. Expect we will have the funds in by the end of this week and then it's full steam ahead!
We have come a long way, the permits were the main concern here, money is no issue, we will get it one way or the other, look at what we are drilling. The Chinese would not mess this up trust me.
BB agree we your comments....
My view as simplistic as it may seem is our partners would not be cracking on with pre operational stuff if they were not 100% sure the cash in enroute.... They must of been on the blower so many times for confirmation on this matter to be continuing with ops.
Only a bank holiday in the UK .... PVR account in Dublin.. so it wont be a problem ... but lets hope we have the cash this week ....
Next Monday is a bank hol should that mean the next RNS could be cop Friday or most likely next Tuesday morning? GLA
Survey ship about to mobilize and PVR kicked their funding window further down the road. All positive IMO. If PVR is prepared to go ahead with the site survey they must be very confident funds will eventually arrive from APEC.
Agreed tidd83.... Ive got a feeling this the cash is close and 4p is just around the corner!
Well PVR have secured payment for the rig mobilisation so the rig should start moving towards Barryroe shortly.
The assurances received must be satisfactory to the team to allow for the extensions. Only the companies are privy to such information and by way of action it suggests to me that they money will be forthcoming.
Anybody on here speculating otherwise should read on the banking processes within China, I shared an interesting link last week around how all funds leaving China are subject to scrutiny from the Public Bank of China and how it is without question that delays can occur. Their appetite is to retain wealth within the country and so need to verify everything.
Given the farm out is through state owned entities I think it is clear it is a matter of when as opposed to if the funds arrive. This is also nothing to do with APEC or any partners, it will be down to HSBC and the PBOC as explained above.
Got to be a problem somewhere... Will these funds ever arrive? What is plan B here??
What astounds me is the total lack of comms between Exola and APEC over this. It's like they are just waiting from HSBC for answers and not getting to the key man inside APEC to sort it out.
https://www.lse.co.uk/rns/PVR/providence-resources-plc-corporate-update-7e4pnaf3v2qwa8k.html
Been thinking along the same lines ("Trump and his sanctions") myself, JH77.
BW
It is a fact that the chinese government is curtailing the outflow of capital for FDI, and probably have a monthly quota for funds going out. This is partly because of the shenanigans with Trump and his sanctions. I'm coming to the opinion that that's what is delaying things here.
I think we all think every week something must change this week and that they can’t re-release effectively same RNS, but they do.
Part of me thinks why would they be insistent on funds being sent if they haven’t? What reason would they lie?
But on other hand I don’t believe money takes this long to leave China.....
I hope our patience is rewarded...
EXTension was to 19th but today. Hopefully they receive today & then inform market shortly.
Tick Tock update in morning my guess another weeks extension doesn't mean it's an issue just taking time being transferred through a complicated banking system