Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Other funding will be requited to horizontal drilling. As many as 10B more shares could be issued. Todays raising of £5M is not for drilling new wells in Alaska. It is for survey in Namibia. Not even for drilling Namibia.
AT LEAST 3-4 MORE FUNDRAISES TO COME THAT WILL COMPLETELY WIPE YOU OUT. FOR GOD SAKE DO NOT THROW MORE MONEY AT THIS.
AVOID.
From Placing RNS:
"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"
In essence this raise is to pay bod salaries for the next year and keep the lights on. Notice how the amount was at the upper limit of shareholder voting requirements... Another few placings will come also. This is a 99.999% certainty.
You couldnt even make this stuff up.
And after G&A raise, then more raises for all of the going-nowhere projects...
Yawn.
Its over.
PANR are about to release Aphun resource upgrade. Would make sense to pick up some shares there to make back 88e losses...
Going to need a consolidation fairly shortly
Made me chuckle that one Uscita! The brass neck of some posters is simply incredulous isn’t it.
As I mentioned yesterday, companies like AET have accumulated over £250m NPV10 assets without the need for ANY shareholder dilution, with the board putting their own hands in their pocket to buy shares! What a contrast!
Rinse and repeat, they are not wasting any time with the rise for cash, BOD getting in very quick, what's more to say what I've not already said ? BROM u may maybe a nice guy, u have been obsessed with this for yrs which is very worrying .
Rns Placing at 0.16p 40% discount .
17/8/23 OO was 0.31p then a year year low.
I apricate that... Its the end of an era for me...
Lots buyin.. back up this afternoon.. lol
RNS placing 0.16p 40% discount .
Derampers got this one correct.
Why don’t you stick to what I hear you’re good at?
Go share a 🔔 end!
Another ukog
It will take a while until this will move either way up or down
0.15
Yes it is wise to get out if you feel that way. It is ultra high risk.
The vast majority of anyones portfolio should not be in AIM. It is the 'shot at nothing' to give it snooker analogy.
I saw the 'buy out burgundy' theory from Oilman Jim on X. The RNS would need to state clearly if the funds were to buy out Burgundy and it doesn't. However, the RNS does include the following with regard to Project Phoenix:
'· 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.'
Note 'attract a high quality new partner'. Could be more here that would support Oilmans Jims view should a new partner want to remove any other party? But I doubt via this raise today.
Investment at this stage depends on whether you believe they are telling the truth about the latest flow test and how attractive they are to the industry.
When all of the flak on a message board is from tribal views from those weak enough to need to deramp a rival company..... well I consider those views not worth knowing.
Starting to think Sharebel is just ChatGPT.
Chattingsh*tGPT
09:07
Sharebel - Wow! Just wow!
Instead of a healthy dose of introspection I see you've opted instead to take the 'spew further disinformation' route!
To the forum. Sharebel can't read or do maths....or he's straight up lying to you. 88E will not be sitting on tonnes of cash after this fundraise. The AU$17.5m cash at hand pre-fundraise will be used *in its entirety* to pay for the remaining costs of the flow tests at Hickory-1, as per company guidance. Notice how Burgundy wasn't mentioned with its named partnership status up in lights? 88E management more than suspects Burgundy will default and walk away.
The rest of sharebel's post is fantastical gibberish.
Buy/sell/hold 88E but please don't attach any weight to sharebel's content.
Lol! Sharebel, 88 just took your money right out of your hand. You practically opened your wallet and just let them have your cash the last few weeks. The bod are simply laughing at folk such as yourself. Fodder for placings.
Investing isnt for you my friend. My advice - stick to slot machines.
Bid now 0.15p
As predicted. Right on cue.
RIP 88e.
Sharebel, I have some 2p coins I am selling for 50p each. Would you like some? And if so how many? Thanks.
AIM Shares seem to have a way to get money from us in SO many many different ways....
Sharebel
You did not need to discredit yourself further
Investors only need view the term sheet to see exactly where the funds raised will be spent, it is not on buying Burgundy out
That is a fantasy tale from the rampers guidebook
Reading the comments is hilarious! Right firstly this is the stockmarket companies list on said markets to expand they do this with expansion funded by equity raises. Whilst I agree they should have raised higher, they will bring in an extra $9.8 million on top of their existing $17 million healthy funds in the bank already. We were fully funded for all projects as stated even in the Vox markets overview however this now gives us 12 months surety of enough cash to do all we need to do on all projects inc well tests and even looking at other projects.
The rumour is that this raise and why it was done now is to use part of these funds to buy out and secure the 25% interest to own Project Pheonix 100% outright meaning a probable sale in wings or simply making it a smooth farmout with major.
Now having seen the SP over last 5 days something was amiss - the naked short was used to bring down the SP to effect such a large discount however I think we can all agree the majority has been forward sold. The short cover will be covered using renainder and everyone is a winner. Its a poor show but just as we were happy buying in mid 30’s we will be even happier buying this low knowing we will now get a further deluge of good posituve news flow along with surety of having a ton of cash in bank and the company underpinning the SP with expansion and progression of lucrative projects and yes fully funded safety for 12 months.
So sling as much mud as you want bashers but despite the placing price what now are you hoping to achieve by being here by commenting further? How many times can you gloat and is that paid or lucrative for you so why bother? I suggest like I have you start buying or if you’re not going to even do that at this historical low juncture when we are in the strongest position in years, you simply jog on! If you hang around still then that fully exposes your position and own agenda in being short and having bet against the company.
As sure as egss are eggs the share price will rise again! See this as a full on buy opportunity which I am happy to fully embrace! Onwards and now upwards! IMHO DYOR
Are you still bitter and twisted Desmond??? LOL
Poor old Brommy.
08:45
Ilovesushi - 88E has drilled its last well in Alaska. It doesn't matter if you're talking about a future vertical, horizontal or trapezoid well.
The pivot has already happened in management's mind. The primary focus is now on Namibia. Didn't you know that the Namibian acreage is "over 70 times larger" than the Alaskan acreage??!!
I suppose there's a possibility 88E *may* find a farm in partner for Leonis, perhaps leaving 88E with a small W.I.?
I think it highly, highly unlikely 88E will find a farm in partner for Project Phoenix. Take any residual emotion out of it.....why would a farm in partner invest in the downdip, lower classification, 'less data collected' portion of the shared asset v's the updip, higher classification, rated commercial by management and Schlumberger portion? And get this....according to the equity market, that potential farm in partner would be paying the same buy in price for a higher CoS project (PANR's) v's a lower CoS project (88E's Phoenix).
Yes, I've done a very quick calculation based on the 0.16p placing price. Using 88E's pre-flow test guidance on recoverable resources for Phoenix (which I assess will have to be downgraded once the analysis is completed fwiw) an 88E barrel in the ground is valued by the market at 13.5p v's an updip, higher classification commercial PANR barrel at 13.6p.
This is *not* advice. *If* you wish to retain your exposure to the shared asset north of 88E's Phoenix then, bizarrely, the market is still offering you a chance to do so without paying the logical premium which a PANR barrel *ought* to attract. Make of that what you will.
16p placing, sure most just trade this, not long term hold 4 sure
Sorry for stating the obvious.
Buy before hype and sell before the bad news every time.
You have to love the cycle.