Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Treat the asset as good as gone anyway, and if we keep any stake it will be a bonus.
As I said last week We only have the remaining 11.2% stake because it was part of the JOA that the operator needed to retain over 10% or its treated as the operator leaving and The JOA would have been nul and void, try getting $5m out of them then when they have a legitimate example of us failing to meet the terms of the JOA and zero leverage. It wasn’t for shareholder benefit that was a BS spin by the board, they would have dumped the lot if they could have.
If they renewed the license with the cash raised last year (and spent that cash on what they said it was raised for) AAOG wouldn’t have had an issue as they would have had an asset to secure debts against. additional finance, farm out, etc would have been possible at a much higher sp.
What were the “5 Ps” ? Proper Planning and Practice Prevents **** Poor Performance?
Or, £5 per week from all share holders to enter the Euro millions......
Clutching at straws here.
~£3m (~$4m) needed first half 2020 if we wanted to go alone.
And a change to the directors renumeration packages.
But first of all need to figure out what cash we can possibly get in from SMP and SNPC before any cash raise.
Which is why it makes no sense for the disposal to zen when they have no money. Forum on the other hand with >£12m cash....
Let's go at this as if it's a brand new company and start from scratch again.
Old AAOG were looking at a 400% gain.
If we start again we are looking at a 300% gain which means we get back ALL our losses from this debacle and gain 300% instead of 400%.
I'm probably wrong so please enlighten me with an idea along these lines.
Idea in lamen terms.
What if every share holder put £100 or so into a fundraise how much would be raised to keep it 100% AAOG.(enough for licence and frack) .
What sort of scale could this be worked on.
Now to debate this idea.
Let's take our company back and place OUR Directors. (Just another equation)