Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I really don't know how much more obvious it could have been this week. 3 consecutive RNS's... All those news articles... Yet nothing of substance in any of them. PR frenzy before the placing and a rubbish placing only raising £5million at a 40% discount. Pretty atrocious.
Taximan, it can't have been a shock... People have been warning for days...
Not shocking just pretty obvious as track record shows . Quick trade only for me as always on this one may have another pop at .14 maybe .
So balance sheet now minimum 23.2 MILLION and off we go with all of the below and onto swiftly COMMERCIALISATION! Bring it on! So if this had risen initially as we all thought on 2nd excellent discovery news last Monday it opened at 33 v 35 all those wanting in would’ve been paying up to 45+ no doubt as before. Now we have a gift horse with same results and same prospects but has allowed current holders to significantly improve and lower their averages impoving gains as we move away from this level just in time for what we know is going to be a very rich news period with plenty to bolster the share price here. So for the sake of a short period of time (we know its been naked shorted & forward sold that’s the mechanics here so reality is very little will be left & not for long) when last of placing churned we get a seat to ride back up. Even the shorts will be mopping up whats left of the placing stock as once it’s gone, it’s gone. IMHO DYOR
‘The net proceeds of the Placing, together with the Company's existing cash reserves, will strengthen the Company's balance sheet and will provide the Company with sufficient capital to fund:
· Project Phoenix, Alaska: Following the successful flow testing at the Hickory-1 discovery well, 88 Energy will be focused on:
o Completing post-well testing and analysis at Hickory-1;
o Securing a contingent resource for the SFS and SMD reservoirs;
o Commencing a formal farm-out process to attract a high-quality new partner to fund the next stage of appraisal and development; and
o Advance planning and design of a early stage production system.
· PEL 93, Namibia: Completion of 2D Seismic program, generation of a maiden prospective resource report and other studies associated with the Owambo Basin.
· Project Leonis, Alaska: Securing a farm-out partner to fund a future exploration well to test the proven producing Upper Schrader Bluff (USB) reservoir and continue further studies and analysis.
· Funds will also be applied towards Alaskan lease rental costs, working capital and assessment of further new venture opportunities.
Following completion of the proposed Placing, the Company will have sufficient cash to fund its ongoing working capital requirements and general and administrative overheads for at least 12 months.
88 Energy has made the decision to complete the Placing to secure funding arrangements to fund the transition to post well analysis and to secure further Contingent Resources at Project Phoenix.
The Company intend to commence a formal farm-out process for Project Phoenix following completion of the Hickory-1 post flow test analysis, with the aim of attracting a strategic partner for the next stage of development and commercialisation.’
It's a bit rich when non holders are even arguing about other companies on this board. Please leave us in peace to lick our wounds. Today was a shocking result for LTHs.
Sharebel is Walter Mitty on steroids.
Monet you seem to be thinking that I run 88e? We have as released last week 17.4 million in bank pre this placing. I attached and highlighted the words from the VOX markets overview. We were fully funded to carry out what we needed to do on all projects so we have now gone to market and raised a futher 5.8 million which includes working capital and other ventures outisde of project advancement too!
Here it is
notice the line here *** * ‘88E is FULLY FUNDED to develop Project Phoenix and its other assets’!!! ****
‘Positive results from multiple reservoirs means significant upside in future development via multiple commercialisation options. These include a farm-out to a strategic partner or early capital-light production, given the acreage's infrastructure advantage of being next to the Dalton Highway and Trans-Alaskan Pipeline System. The project benefits from the ability to produce concurrently from multiple reservoirs in a single development scenario.
Project Phoenix is being jointly developed by 88 Energy and Burgundy Xploration.
88E has a 75% stake in the acreage. As of March 31, 2024, 88E is fully funded to develop Project Phoenix and its other assets in Alaska, Texas, and Namibia.’
https://www.voxmarkets.co.uk/articles/88-energy-s-hickory-1-flow-test-yields-dual-success-unlocks-upside-in-multiple-development-options-73731a3/ IMHO DYOR
Rubbish ! It spiked In 2019 to 20p ish because of the so called biggest oil strike in georgia for 50 YEARS then turned out to be mostly water then Placing at 12p . Rubbish ever since I remember the Proactive video . I suppose the only half decent thing about BLOE is they have 750 million shares in issue instead of billions and more and billions like this pile of you know what 88e . Quick trade only for these AIM dogs these days. Byee
Time will tell if it's a bargain I guess. The buys Vs sells listed is determined by this website and shouldn't be taken as gospel. If you paid below the spread midpoint is will show as a sell, above and it's shows as a buy. If it's bang in the middle it's marked as unknown
Ok Syrup so i got a bargain then GLA
It means the price you paid was below the midpoint of the spread so this website has assumed it was a sell and marked it as such.
Bought 2 lots 1/2 hr ago at 0.162 showing as red?
I was invested here, Frontera and Block. Frontera is where it's at and seems a right off but following that debacle I bailed here as I just felt it was going the wrong way. Block didn't do so well in its first year but its transformed itself into what it is today and after getting spiked I did average down hard and am now sat on a half decent profit. For those liking oil and gas explorers and with what Block have in the pipeline some research into their four projects and CCS could rekindle faith in a sea of poorly run companies.
Sharebel
All these stocks have gone down in a straight line since you have been pumping them. But you made money in all of them??😂😂😂🤡🤡🤡🤡🤡I’ll leave it at that……..
Very well said at 11.28 am MammaC - couldn’t have put it any better.
People have very short memories about their own mistakes.
Monet2, the problem. Is that line was in an article reposted by the official 88e Twitter account. Shows utter contempt for shareholders. Timing of placing shows they were not willing to present further findings of flow tests in a webinar to persuade investors the market got it wrong. Poor form all round and I genuinely feel sorry for those sat in further losses.
Now is the time to get in. The Vertical well proved there was oil in the layers. Now the Horizontal is the all or nothing. This next well is the one to get the production testing from. From this current raise price there will be profit. Whether you wait for those results or not. So easy to pit in a little money in this now. The Difficulty is for the LTH who need money to average down , their risk is higher plus the money is not working elsewhere.
11.55 sharebel , I suppose you're in the money with these as well. You said you've bought more at about 19.5 then you average down again about 19, going off the time of your post yesterday. I hope nobody bought in on the back of your post!! (notice the line here *** * ‘88E is FULLY FUNDED to develop Project Phoenix and its other assets’!!! **** ) you should be banned for your misleading post. You are still posting your rubbish. SHAME ON YOU. notice the strong buy in your post lol..
Sharebel
Posts: 10,957
Price: 0.1925
Strong Buy
RE: Market abuse22 Apr 2024 12:54
The company now need to issue a ‘we know know no reason’ RNS to knock the naked shorters out once and for all! Imthink they will or indeed they must! Its coming! I have just bought another 10k worth in 2 trades. Most red trades on here in 19’s are actually buys! IMHO DYOR GLA
Sharebel
Posts: 10,957
Price: 0.195
Strong Buy
Market abuse22 Apr 2024 12:25
15% down that seems legit? Not! All noted once again worked down and down on nothing! Market abuse being played left, right and centre here! Not playing their games and have just bought more! IMHO DYOR GLA
I also hate the Beatles, sorry :)
Hi taxi, I do agree with that. And agreed not personal, wish you well too. But unfortunately human physcology will always processes negative emotions/thoughts/actions over positive ones. That is why these boards are so powerful.
This is not personal Let1tbe, sorry if it comes across, I just think anyone who decides to invest/sell on the strength of posters here should not be investors, certainly not in AIM. I wish you all the best.
As for the others mentioned I have no problem with reading their posts as some can be informative but when it changes to sell this and buy that then it oversteps the mark. I am open to learning on here but I would not decide to buy/sell on anything I've heard. I don't have a narrative or agenda other than I am a LTH, and just that, who is equally fed up with rampers and derampers.
What will keep the share price up for the next 12 months? Farmout on the latest flow results is not likely to be amazing. Should do a small deal for a horizontal test well ASAP, then a larger company might be interested.
Hey taximan easy now, the likes of toffers, old, scot etc shouldn't just be cast down cos they don't conform to your narrative. Listening to sharbel NT to buy,MMs taking it down to shake the weak, would see most in awhole load of trouble now. Yes I dont mind admitting I took sensible advice to sell, if I offered you 0.24 now would you take it?
'Neither the Placing Shares have been made available to the public'
I'm assuming this means none of the shares have been made available to the public. Does that also stop the BOD from using their own cash? Some seem to think this time should be mandatory for BOD but they may not have the option.
Taking T*ssers advice as a reason to deal doesn't sound like you making logical decisions Let1tbe. Could you not decide on your own then?