Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Closing VOG SP prior to the Westmed sale announcement was 3.48p. Today it is 3.05p. Hardly a ringing endorsement from the market that things are changing under Roy.
Maybe this vogspeak caveat in the RNS had something to do with it "the Company expects an extended sales process due to the COVID-19 crisis and the volatility of crude prices." Read as "that's bought us another 6 months"
With you there Jed. Recently took some PFD profit to top up in ITV at 57p
Just to let you know I have also within the last 2 weeks bought thousands of ITV just over 60p but in a few weeks / months they should be over 75p but like everything life is a gamble and life doesn't revolve around vog and their downfall, but it is interesting all the same.
I think we can all see the writing on the wall here apart from RF68, and all you can do is mention a few thousands I have lost in 2 stocks.
You seem to worry about my few losses more than me, don't it's just water under the bridge as far as stock dealing is concerned. You should be more worried about any future vog has and your money , what's left of it.
RNS 27th July:
'... a restrictive lockdown persists in the YaNAO region of the FSU where our West Medvezhye asset is located.
SVERGAZINVEST ("SGI") UPDATE
The Company is pleased to announce that a third party Technical Report has been completed by Well Energy Group (Russia) on the Company's 100% owned Western Medvezhye Licence in YaNAO, Russia. Based on this Technical Report, the Company has commenced a formal process to divest the Western Medvezhye Field and is in discussions with buyers of the field. Whilst a prospective buyer is conducting due diligence, the Company expects an extended sales process due to the COVID-19 crisis and the volatility of crude prices.'
https://globalvoices.org/2013/01/23/russias-siberian-state-within-a-state/
https://www.rusbiznews.com/regions/The_Urals_Federal_District/The_Yamalo-Nenets_Autonomous_Okrug/
https://www.nasa.gov/image-feature/goddard/2020/wildfires-in-siberia-bring-more-challenges-to-locked-down-area
https://www.themoscowtimes.com/2020/07/27/well-preserved-mammoth-discovered-in-russian-arctic-as-permafrost-thaws-a70993
https://7news.com.au/news/world/mutant-ticks-overwhelming-hospitals-in-siberia--c-1073782
https://www.washingtonpost.com/world/europe/russia-coronavirus-covid-siberia-trenches/2020/07/16/248c1ade-c10d-11ea-8908-68a2b9eae9e0_story.html
I expect Roy is looking forward to his first visit here.
This was the latest official news in our RNS of 27th July:
"GSAs with Aksa Enerji Uretim A.S. ("AKSA") and New Age (African Global Energy) Ltd ("New Age")
Aksa is progressing its in-country applications and agreements for the power plant to be located at Bekoko, a brownfield site which is already equipped with a high voltage substation on the outskirts of Doula.
New Age and the other Etinde licence owners continue to progress their development towards Final Investment Decision and have stated publicly that they are targeting FID in the next 9 months."
Note: poster Ham 74 (on ADVFN BLVN) writes: 'I reached out to the company and they say they are on track for FID this year.'
No record of them ever paying for their 5% not, more importantly, their share of ongoing costs though
Good discussion I have been following for a while on the ADVFN BLVN board.
Lukoil's failure to buy into Senegal may be a positive for the Etinde partners (and thus VOG too)?
For any company trying to make a profit in Cameroon.
Doesn't vog already give 5% to the state and now it's 6% into a special pot that I guess will never be seen again
It does make life much harder for any company to invest in a long term future business that could make profits as they now know that again at any time the goal posts change and could become a full nationalisation if Cameroon decide to do so.
Now for anyone in vog that's looking forward to a divi / return that must now come after the Cameroon government have taken their share.
Well hopefully that's sorted the brown envelope situation moving forward.
One issue with a new tax though is that it starts low and goes up. Reference VAT, IPT to name but two
https://www.investiraucameroun.com/energie/2008-15052-le-cameroun-lance-un-fonds-pour-developper-le-secteur-de-l-electricite-finance-a-1-du-chiffre-d-affaires-des-operateurs
(Business in Cameroon) - The Cameroonian Head of State, Paul Biya, signed on August 19, 2020 a decree on the creation, organization and operation of the Electricity Sector Development Fund (FDSE). The presidential text specifies that it is a “? special account intended for the financing of the electricity sector ?”.
This fund, we learned, will conduct all “? activities relating to the development and implementation of public policies and strategies in the electricity sector; operations relating to the preparation and organization of calls for tenders for the selection of power plant operators, as well as operators of transmission network management activities; the State's contribution in real expenditure within the framework of jointly funded projects, etc. ?"
In addition, the FDSE is responsible for "? monitoring and control operations of water storage activities for the production of electricity, production, transport, distribution, import, export and sale. electricity ; administrative, technical, financial and accounting audits of the activities of the electricity sector; Cameroon's financial contributions to international organizations in the electricity sector; emergency interventions … ”
In order to replenish the new fund, we learn, operators holding concessions, licenses or other authorizations will now pay 1% of their annual turnover excluding taxes. According to the decree that creates it, the resources of the FDSE are also made up of a share of the water royalty or water rights; resources from the State budget in respect of its participation in or contribution to legal and financial structuring operations for projects in the electricity sector; a share of State dividends in respect of its equity investments in companies in the electricity sector; state subsidies; a share of the entry fee or renewal of operator titles;a share of fines and penalties collected under the law governing the electricity sector, etc.
Recovered by the Electricity Sector Regulatory Agency (Arsel), underlines the decree, the fund's resources are placed in a special allocation account outside the budget opened in the books of the Central Bank by the ministry in charge of electricity, which is the authorizing officer.
With the creation of FDSE, the electricity sector in Cameroon is enriched by its 5 th public operator. After EDC, the heritage company; Sonatrel, specialized in transport; Arsel, the regulator; and the AER, which deals with rural electrification in the country.
Brice R. Mbodiam
4% down. Lolol
Goodness have you just woken up and fired off all your thoughts at vog, I like it.
Is this the world of fantasy or just vog that lives it's life in fantasy
Rfsparrow. You must be well wazzed off today. Three months of pumping and you're well down
You by any chance off work today Biggs?
The trolls are very excitable today.
twas not I, but just showing that punts are inbound.
17-Aug-20 13:29:56 3.272 100,000 Buy* 3.04 3.33 3,272 O
BUYing up to 3.8p from time to time. No rush. Yet.
ASK upped. BUYers around.
m/c £8M. Acquisition target 2020.
yada yada yada
Gonna start smoking.
fast seatbelts.
the amount of punters high on Russian assets and we are sitting on a "WORLD CLASS" Russian reserve.
Time for SP to hit £1 in 1 week.