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Sounds like Scot126 has finally succumbed to drink. Good on you Scot you need to let off steam. However, I suggest you write some factual stuff, you plantpot.
GS
Alkaid drill even if successful will not directly prove up Icewine, although I do agree there may be a ripple effect as some consider the potential for a multibag or just pure FOMO.
Would like to see what the plan for winter 2023 actually is and how it is to be financed, as a few have mentioned my preference is that we go it alone even if it means more dilution, if successful in our drill it would ultimately cost us a lot less.
PANR drilling horizontally, great news for 88e. A truley great time to be an 88e investor, very exciting times ahead!
Scot, you are free to write whatever you want without poisonous interruption. Several thousand people will be reading your posts. The only thing to look out for is the spell checker.
No more wasting time on you Rabito - you can join your other posting name (Scot) in the green box - bye bye sad person - go and pick on another Board to undermine - don’t tell me - you already have!!
Part 4 (continued from below)
I submit *not* dealing with the facts of the investment case, *not* dealing with legitimate queries, *not* disabusing credulous fantasists of their pie-in-the-sky SP dreams is *not* benevolence. It’s *not* loyalty, it’s *not* kindness of spirit. These traders are ***using and abusing*** the trusting nature of too many on here to enrich themselves.
And before someone responds with “Well it got to 4p last time, so it’s bound to go past that price once again,” please look at the evidence freely available. Where is the eponymous 88E Army on Twitter these days? Where are Kate from NJ’s Twitter Space meetings full of uneducated g0bbledyg00k? Have a look at the tens of tragic stories from credulous US OTC punters who lost life savings after being taken in by grifters and fraudsters like the convicted criminal Alex Delarge?
The US OTC bubble which, by a curious act of coincidence, appeared just in time for ELKO to sell their shares in 2021 and 2022 has, IMO, burst. By all means, keep believing the US OTC crowd will provide the impetus for the next bubble, but I’d argue most would do well to get their heads round the objectively realistic maths shared by Rabito79 and me. On a success case, they still offer some half-decent upside. Are the calculations “spurious”, as alleged by Redirons? No chance. But no need to take my word for it, fact check the calculations and the variables, inputs. /end
Part 3 (continued from below)
3) Has the 88E BoD instructed their lawyers to release the funds from the ELKO share sales in 2022? If so, when were the shares sold, at what price and what was the total sum realised? Did ELKO sell all of the shares allotted to them for the 2022 season, just as they did in 2021? Why is the 88E BoD not being transparent with its shareholders? What are they hiding?
4) Is 88E management gilding the lily when describing to 88E shareholders their understanding that the common reservoirs will possess even better characteristics south of the border than in PANR's acreage.....especially when Dmax calculations appear to have been completely ignored by 88E? Are 88E management misrepresenting the relative properties of the acreage north and south of the boundary line between PANR and 88E? Why does 88E insist on highlighting and including in headlines the average of Low, Best probability (P50) and Upper cases for recoverable resource when it goes against industry standard practice and which skews the figure to the upside. Can Brom provide any explanation for this other than attempting to gild the lily with investors?
5) The 25% owner of Icewine East (Burgundy Exploration, correct?), what's the contractual agreement between the two parties? Is Burgundy in a financial position to follow their money? I don’t know the answer to this question but perhaps some posters/Brom will have an answer?
6) 88E has c.$14m on the b/s currently. Approximately how much will Icewine-3 cost to drill in 2023? Why is the company not planning to flow test all four horizons they have previously informed shareholders “could have even better properties” than reported by PANR in their acreage? Seems odd for such confidence not to be backed up by plans to flow test? Anyone else seeing parallels with Merlin-1 and Merlin-2?
This are all fair questions. They're all standard questions which any equity analyst or fund manager around the world would ask about 88E. I look forward to this forum finally engaging on the facts of the investment case.
Of course Brom isn’t *obliged* to enter into the recent debate between Redirons/Rabito79 and me. However, doesn’t everyone think it odd that he hasn’t posted to factually correct Rabito79 and me? Why hasn’t he popped up to correct our (independently calculated) maths? Do you think for an instance that if our maths was suspect, Brom wouldn’t step up and correct us? Where’s *Brom’s* integrity? Where’s his *honesty* with the forum? Instead of politely and gently letting down Redirons and any others who think Rabito79 and I are seeding the forum with disinformation, there’s Brom’s classic silence again.
Part 4, see above
Part 2 (continued from below)
Do other members of the forum not recognise the pattern here? Brom doesn’t debate or engage with olderwiser/me/Rabito79/ecugold on questions of fact. But here’s the thing, he hasn’t once stated that the questions being posed are themselves illegitimate. The reason for that? Because Brom knows that each and every one of those ***factual*** questions are necessary to properly understand the 88E investment case.
Those with even a passing interest to investing v’s playing a high stakes game of pass the parcel should hear an internal alarm going off whenever repeated ***factual questions*** go unrecognised by Brom. If this endeavour is anything more for members of this forum than a substitute for a trip to play the pokies down the local casino then distinguishing facts from pie-in-the-sky hope, plus the criminal urgings of convicted fraudster Alex Delarge, are crucial.
Let’s go through some of those factual questions again, shall we? Remember facts => more transparent investment case => speedier and more accurate price discovery.
1) What is the ***full*** payment to SAE for the 3D seismic data? 88E shareholders will have noted the $1m payment in shares in the initial RNS but, as described, that was only a “part payment”. The Q2 financial report confirmed a *further cash payment of $2m* to SAE, the seismic data provider. Is the cash license fee $2m a month, $2m a quarter, $2m every 6 months, $2m per annum or what? Bear in mind PANR/GB invested $80m in shooting 3D seismic, resulting in the largest 3D seismic data package in Alaska. Surely c.$3m to license the data from SAE seems, on the face of it, an incredibly low price to pay? Also note the language: "Upfront license fee ***includes***, as ***part*** of the ***initial*** payment, US$1.0M in new 88E shares."
Are 88E shareholders not permitted to know the full payment terms? Seems odd, doesn't it? The way the full facts of the licensing cost are dripped out over multiple announcements? Hmmm. Any ORRI attached to the license payments? Is Erik Opstad or associates or family a party/parties to this transaction?
2) I think Merlin-1 cost c.A$39m? What was final tally be for Merlin-2? How does the cost of Merlin-2 compare with Merlin-1? And in case there's any mix up or misunderstanding, I'm talking the *total* cost of each drill which *includes* the cost to construct and maintain the snow roads. Of the circa US$63m cost of Merlin-1 & Merlin-2, what percentage or absolute amount was paid in cash to ELKO or any other company where the Opstad family has a financial interest? What is the total of all share-based payments to ELKO/Opstad family?
For Part 3, see above
Friday 09:29
Brom - you’ve outdone yourself on this occasion! I salute you.
“Think you have to question why so much effort expended in researching, spinning and ultimately "winding up" on this board. Pretty confident you can rule out altruism.”
Readers of this forum may not be aware that of the, literally, thousands of posts Brom has made about 88E since 2018, you have admitted to trading the social media-generated spikes in only two posts. Just twice!
The audacity, the temerity of this man to comment on another’s motivation when he point blank refuses to answer ***factual*** questions to which he knows the answers. All because he ***never*** posts anything which would cast 88E in a negative light.
There is zero doubt in my mind that Brom knows at least as much about 88E as I do, as olderwiser does, as Rabito79 does….and probably more. Yet his rapacious cynicism and partisan hackery has served to boost the cult of 88E, leading the gullible, credulous, naïve, unsophisticated members of this forum down a path of heartless innuendo and an unwillingness to confront anything close to the facts of the investment case.
Brom knows fine well that as soon as Dave Wall formally confirmed 88E and PANR shared a common asset, comparative valuation techniques were not an added extra for professionals in the markets, they were now absolutely ***essential***. That he now equates building a consensus understanding of the ***facts*** of the investment cases of both companies in order to pursue true price discovery with “spinning” and winding up” is outrageous, and intellectually bankrupt.
Where was the clarion call, with the volume turned up to 11, by Brom when the 88E SP spiked to US9c? Did he flood this forum with pleas to all of his loyal readers to understand that the SP had gone way, way, way ahead of even the topmost estimates for Peregrine? Where was his fire alarm to get out asap? Silence until 3 months later. He was busy selling all his shares to the buyers getting spiked, that’s what was happening. Is that the definition of “altruism” in Brom’s dictionary?! Lol.
What of Brom’s outright refusal to engage on debates of factual importance to the 88E investment case? He’s now gone from radio silence to pillorying a person’s “effort in researching”. You have *got* to be kidding me.
Brom – I know you don’t mean everything you post on this forum and you’re a master at obfuscation and distraction, but do you really have such a low opinion of the members of this forum that you expect them to now ignore standard equity analysis employed for decades the world over?
Part 1 - continued above
‘No one influences me’ says man who says ‘Brom is the glue who holds us together’.
I have just shown figures which result in a 5 bagger from here and yet I am spreading ‘fear, uncertainty and doubt’. Meanwhile you make false claims that hitting 4p is normal when a simple look at the chart shows it’s happened once in the last 5 years.
Patience is difficult in practise. Well said Redirons.
Rabito (or should I say Scot) - no one influences me. I make my own (very good) decisions and stick by them. I’ve retired comfortably off the back of my AIM ventures so don’t need the likes of you calling me naive. Far from it and time will tell. I’m in no rush as 88E will hopefully provide some extra value to my portfolio. You are a typical fudster who likes to dig at investors when they are on a downward curve. Thing is Rabito will it be down when people decide to cash out in the future. Neither of us know for sure do we, but rather than listen to you, I will continue with my own research which has served me very well up to now. Just jog on and annoy another Board you sad person.
Ah, but you have to read above and below........blah blah blah
09:37
Of course not, my post does not say that!
09.36 Sorry should read 'than me' opposed to 'anyone else'
09.29
Crickey Brom are you suggesting the greater the effort the less altruistic
22.46 Redirons, I have provided workings for my calculations as has Scot126. Happy to review against your own. Its always astonished me over the thousands of posts on this site, how little effort has gone into calculating what the upside may look like. Particularly for those who are holding for the 'jackpot'. The jackpot has been shrunk by continual dilution and reduction in size of the prize. I can't tell if these people are genuine and just ridiculous naive, or all part of the game to suck in more investors. It will be interesting to see how many naive punters there are left out there and if this spikes again into the next drill.
09.29 You have made far more money out of spinning people like Redirons along than anyone else. Whilst you may not 'chase rainbow's' you have apparently 'been the glue' that kept people like Redirons believing there is a pot of gold worth waiting for. Speaking of altruism how have Dave Wall, Erik and co faired from the failures in comparison to GLTH.
22:46
Think you have to question why so much effort expended in researching, spinning and ultimately "winding up" on this board.
Pretty confident you can rule out altruism.
Whatever we think about this company with it's murky dealings, 18billion shares, failed drills, it seems to me historically the present SP is a great buy in. If their is little or no upside from here then the interest has vanished and the play is over.
23:47
For once, I agree with you. I think we will self fund the drill. The downside is more shares in issue but if the price goes to 2.9p then I will settle for that. Soon it will be time to buy some more and average down.
22:46
Hi Redirons - this isn't some board game, where you make up the rules as you like. You're living in a fantasy world which bears no relation to the facts on the ground *and* 88E's corporate facts.
Let's start with some cast iron facts. 88E has 18.26 BILLION shares (soon to be) on issue, with a mkt cap of £105m. Peregrine, Umiat and Yukon look to be dead in the water, maybe the Central Blocks will look ok if a gas pipeline is constructed in the future....which leaves Icewine East.
88E has c.US$14m, nowhere near enough to fund Icewine-3 in 2023. 88E owns 75% of Icewine East. The BoD has elected not to inform its shareholders of the *total* cost of licensing the 3D seismic data from SAE. I do not know the reason for this but I *suspect* it's because of the large expense, which would likely shock and disappoint shareholders.
Did you learn anything from the way 88E management present resource estimations to the market? I'm talking about the deliberate highlighting and headline grabbing "mean" estimates v's the industry standard P50 or Best estimate. Let's look at the "best" estimate for 88E's 75% of Icewine East....621mmbo, correct? Personally I doubt the BFF will work for 88E due to depth and Dmax calculations, phasing, etc but let's go with 621mmbo, ok?
What will 88E have to give away in a farm out to fund Icewine-3? 30%? 40%? Or does the company raise money to self fund the drill and you'll end up with another 3 or 4 billion shares on issue, so 21-22 billion shares?
Ref the Santos/Repsol/Armstrong deal where each barrel of oil in the ground was valued at $3.10. (621mmbo x $3.10)/21 billion = US9c. Do you seriously believe it will only take Icewine-3 to prove up, unequivocally, 88E's Icewine East acreage?
My *personal* view? SMD + SFS + Kuparuk is viable in Icewine East, so 280mmbo. I think 88E will opt to self fund and there'll be a minimum of 25 billion shares on issue by the time Icewine-3 and Icewine-4 are drilled. Happy to use the Santos figure of $3.10 per barrel in the ground => 3.5c per share, or 2.9p.
That's the maximum I reckon 88E shareholders are looking at over the next three years. Anything more than that and it means Icewine-3 discovered liquid platinum, or the US OTC hype-athon is back in action.
I strongly suggest you start living in the real world. What if I said to you that I own 1 million Rolls-Royce shares. They're 84p each. I don't like that SP. I'm going to add fantasy assets into my understanding of the assets and products and services Rolls Royce delivers to customers. Furthermore, if RR tell me each engine they make sells for $10m...I'm going to dismiss that as unacceptable and pick a number like $30m out of thin air because it's higher than $10m and it'll make my shares appreciate in price.
Do you realise just how childish and unconnected with the real world you have revealed yourself to be this evening? Unbelievable. And you honestly think Rabito79 is the one without ethics or integrit
No sorry Goldstinger he’s not teasing us - he’s trying to play us with spurious (look it up Rabito) calculations and general chipping away at people’s hopes. Sounds much like Scot to me and hates the thought that 88E may scoop benefits from PANR resources seeping into our territories - that’s why 2.5p is a figure not worth giving time of day to ( nor is £1 imho) but with our own targets plus what PANR could deliver, they might want to buy us out and hence why all of this could easily erupt past 2.5p and even 4p quite easily. Meanwhile Rabito can go and join Scot in the green filter bin for me and I commend the same to others.
Am not on a free ride, just hedging my bets. The key to this stock is to set a target , at the same time keeping a close eye on what's going on across the road. Better to make some profit than to be left waiting another year for the next opportunity.
You're.
16.46
Out at 1p? What even if they sail past that sp when the neighbour tells the world the results of their flow test. Don't forget, there are literally thousands and thousands of small investors watching these Alaskan explorers for any hints of further quick buck gains. This, imo, will get to 4p again. But I wouldn't bet on it staying there long.
You must be on a free ride and then some! Your teasing us, I guess.
GS