Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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What dividend was promised? I have no recollection of Mitch/BoD specifying a future level of dividends. Assume it was pre-TW?
But what about the dividends promised before the TW deal, what has he said about that, also what is the plan to stop the falling knife of a SP.
Also I am not sure the markets will have any confidence in this BOD doing any deals after this last fiasco, all excess funds should be returned to the shareholders until the BOD can convince the city that the TW deal was a success, the SP + dividends needs to go to 350p or over where it would have been without this deal and then they so can be trusted to make new deals. One caveat is that there should be no more deals involving Mercuria especially ones that involve Mercuria getting more equity.
Good presentation. He made a very compelling investment case. After all the gloom and doom lately, a useful reminder about the strengths of the company and potential benefits of the Tailwind deal. Fingers crossed the market notices (and the windfall tax is eased!).
'expect to beat quoted bopd, can add extra value, expect more M&A (overseas) No debt, net cash, balance sheet will grow with enhanced shareholder returns '
https://www.youtube.com/watch?v=HT9xEzw3Nto
Plus pushing next acquisition most likely overseas….
Yep.. so currently doing circa 57k boepd… if my maths is correct Newkotb ;-)
Well, who would have thought .... closed on day high ... guess Blackrock had drag on SP.
Build on this, gain some momentum then we can await share issue & completion RNS on Monday.. ;-)
aimo & dyor
Reduced .... ummm !!
https://www.lse.co.uk/rns/SQZ/holdings-in-company-r1rsuoknllasw74.html
Guys and gals. Without sounding like j..y sav
l Please give it rest we have all lost a fortune on paper. For me I just do not want to be reminded of that . There is nothing we can do now inmho
Hopefully something positive will now follow.
BB / MMT / TS,
Agree, many old-hands (pre TW deal) would probably feel / think the same, will we be prove to be right or wrong. All I know is, I too move a slug of capital from SQZ into HBR / DARK / CHAR recently as I have yet to see a share diluted by ~40% and their SP climb in the direct aftermath. Enormous uphill battle now, some may say impossible, for Mitch to prove us wrong and return SQZ to ATH >454p/s
aimo & dyor
Suprised Mecure have their shares at £2.78 !!
Mecure have effectively swapped a 40% interest in debt laden Tailwind for a 30% share in cash rich Serica.
Mecure paid nothing and received everything !
Let see what suprises lay in wait for SHs.
Sold much of my small holding and dont see a particularly bright future. We were doing perfectly well alone but chose to swim in a pool with sharks.
Not a surprise when we are bitten
Hi NewK - 'fat finger' initially... sasa.
We should have the 2022 Y/E figs. to hand, dividend declaration, etc., along with today's announcement / implications to ponder...
Also, the proverbial 'locked box' might be opened at last; we need something really positive to get this 8% yielder off the floor, after all! - sasa.
sasa ..... ?
I wish I shared your optimism. I find it much more likely their return will be to drive the sp into the toilet then take all our shares at rock bottom prices into private ownership, then they alone will reap the returns.
to consider, along with todays announcement
Feeling sickened and robbed by this, feel sure it will be effectively be a reverse takeover by Mercuria in time, along with it goes our cash and shareholder value. Private investors like myself shafted, heaven knows how the Hardys are feeling? I did write to Anthony Craven with my concerns about the takeover, my reply was a poor edited stock letter that did not address my concerns additionally I have heard my reply echoed on here by others in their replies. All that remains for me here is to find my most beneficial exit point.
Mercuria have there shares at 278p, I would guess they would be seeking a return on that and likely more aquisitions on the way, with many analysts expecting the oil price to rally back above 80 dollars going forward the cash generation for SQZ looks excellent....
With Brent at 18 month low probably have Mitch (Mercuria) add hedging(£) as low as possible all to the benefit of Mercuria ... that would signal 'boyz club' deal for sure.
Oh Boy, Mitch et al sure have something to prove now to existing shareholders esp one's like me who voted against this cloak 'n' dagger deal.
No response (p) from market at all on release of RNS atm.
aimo & dyor
and yes there are obviously additional shares, however, there is now additional oil that was not part of the business before, so overall a larger business with an additional income stream instead of just gas (thank goodness)....so a bigger businees, greater income potential, partial tax loss to be offset against growing profits and an expected greater ability to generate cash.......and at current prices agreat opportunity imo
great, that's that settled...we now have an oil and gas company....game on :-)
Just have to wait for dilution to hit and how much the SP will rise / fall between now and 27/3
Place your bets !!!!
"London, 21 March 2023 - Further to the announcement on 20 December 2022 and subsequent shareholder approval on 27 January 2023, Serica Energy plc (AIM: SQZ) is pleased to announce that the conditions precedent pursuant to the sale and purchase agreement (the "SPA") for the acquisition of Tailwind Energy Investments Ltd ("Tailwind") (the "Acquisition") from Tailwind Energy Holdings LLP have been satisfied (save for the condition precedent relating to the Admission of the Completion Consideration Shares, as defined below). Completion will occur immediately following Admission of the Completion Consideration Shares.
In connection with the Acquisition, up to 111,048,124 new ordinary shares in Serica (the "Consideration Shares") will be allotted and issued. An application has been made to the London Stock Exchange for 108,170,426 Consideration Shares[1] (the "Completion Consideration Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place at 8.00 a.m. on or around 27 March 2023 and that dealings on AIM will commence at the same time. When issued, the Consideration Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of US$0.10 each in the capital of the Company."
Sqz & Kist will be easily picked off - it’s happening!
The offer from Kist should of been driven through by shareholders, unfortunately mitch and his gang had other ideas!
SHAME. SHAME. SHAME!