Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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No need to apologise, BB, but many thanks anyway. I am sure you'll understand why many long termers here will no doubt be bitterly disappointed to see it will be at least another two years before DW's famous cream is curved. I know some here will start bleating 'oil exploration doesn't happen overnight' like so many sheep from George Orwell's 1984. But many here invested (I know I did) on Paul Basinski's reputation as a genuis and shale expert and his forecast that Icewine HRZ was likely to contain several billion barrels of oil. That, coupled, with DW's pledge that it was never our intention to produce or spend millions of dollars on wells, and the promise that 'we won't be here' for that, encouraged me to think we would be in and out in four to five years - which is a long enough time to tie up any cash. I know the HRZ didn't live up to expectations but I think if Paul had still been with us, that might not have been the case and 88e would be a completely different animal to what it is now. Having said that, I think DW has been intuitive in securing conventional potential which may yet take us to success. The prospect of waiting another two or three years is not good for some people in situations like my own - very little income and a strong hope that 88e would have been successful by this time. However, I am hopeful that good news along the way will see a decent rise in the sp and the ability to sell some at a reasonable profit along the way. After all, some of us might not have three years left! Everyone, after me...'Always look on the bright side of life.....' : )
I’m not sure the 4% comment relates to an estimated MCAP but maybe that funding may come from elsewhere.
Newanda, that line stuck out to me as well. They seem at odds with DW’s comments in November and also the Premier numbers highlighted in older wiser’s post on Hot Copper. I would think they we need multiple successes on the drill and perhaps some upgrades to achieve that.
Islayman,
My post was not intended to suggest that you or anyone else does not have a right to a different view, my post was not aimed at you, as many have voiced this over the past few months.
My view was to suggest that Dave has put more info on ultimate sell up time lines and is in line with his hopes and Company message over the last 5 years, I believe that our final SP will be many times what it is now, and will be a lot higher than whatever it will be in June.
I have maintained all along that it was more in hope that we would crack HRZ first time, we have been delayed in our journey .
People bought into the quick Oil exploration success and sell theory - was never going to happen, I along with many wished it had, but the realist in me suggested it was always going long and still is.
Why would we sell ? When so much more to come after Charlie?
If I upset you then sorry.
BB32
Have been saying: nine zones of interest :) VGLA
Are we not going to take a look at the two oil deposits that our nearest neighbour is drilling , that is said to run under our prospects.
It was pretty obvious that we need more than just success at Charlie-1 to prove up the resources for a full sale. I did mention it the other day, much to the dismay of many posters on here. DW probably just wanted to clarify as I’m sure many investors have emailed him asking/whinging.
Why the need to 'quell' the suggestions about selling up after Charlie 1? It's a perfectly legitimate tview to have that might happen, or might have happened. ...aren't we all entitled to have our views, particularly after Wall himself said several times it was the intention of the company to prove up and sell up as soon as possible, to the benefit of shareholders? If this does take another two or three years, then so be it. But for those of us who have have been five years - many of us longer than that - then please don't tell us our thoughts have no right to be heard. I used to this this was a democratic board. Apparently not. Or should this post be 'quelled' too?
"Net cost to 88 Energy circa. US$30m over 2 years – minimal dilution (est. <4%) with maximum returns for shareholders"
Interesting nod to estimated share price upon success: 4% >= $30m would suggest a market cap of approx. $750m or GBP579m+
There must be something deeper than HRZ if they are going to 11,400 ft ???? .
My 4 year wait up until now becomes 6 to 7 years, oh well, what's another 3 years..
Nice positive announcement, sets out a few answers to quell some of comments on this site recently about selling up after Charlie.
Still a longer play 2-3 years - to true value of 88E - will be interesting to see what Mr Market thinks of this ..
Timeline announcement of drilling still to come this week ,
Should see the start of FOMO.
Spin the dice and see where it lands...by June 3p / 4p / 6p 10p who knows?
The journey looks to be fun.
BB32