Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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How much money has this one drill cost? It is astronomical and still not a drop of oil flowing. Further, the RNS today suggest that the raise is simply to be used to re-enter 103c only. Surely to God there will now be enough cash to proceed directly to 104 but I’d doesn’t seem like it. Astonishing!
As you say given that we were at 10p I would agree, but surely any excitement shown is from the point at which we are now and imo, is perhaps knowing that finances are finally coming together and showing a light on the way forward for the practical next stage.
Apart from the those working the agenda, nobody is happy where it has gone but most will be relieved that we should be able to move forward on the strength of this.
Given the share was 10p a few short weeks ago (and 'about to triple'.....), it is beyond belief that people are now getting excited about funding at 5.2p. Optimism can be good in the right context but goldfish memories are not......On the basis of what the company previously said/promised, 5.2p is a kick in the teeth for holders.
Similar situation here to Angus. 1.2p low and kind folks like bennyson and Angelica talking it down. Directors putting money into the “significantly undervalued SP” now trading at 90% up from the lows!
Plenty of uplift potential here...expect settlement cash will bump us over 5.2p and runaway premium placing equivalent (a la REM style). Not to mention shorters having to buy back to close their positions.
Well done AAOG team for sorting the funding move onto important matters like increasing production .
On Admission, the Company will have 396,548,396 Ordinary Shares in issue and there are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares with voting rights is 396,548,396. ISA deal does not involve issuing any additional shares .
AAOG £2,562,994.04 is immediately available + SNPC monthly payments for outstanding dues + whatever they have in cash in hand -phase1 is only approx. 30 days should be able to kick start Djeno with a leased drill and start generating additional production revenue .
Investor Sharing Agreement monthly payments then kick in which is basically additional financial security for next stages & contingency - maybe required for CPR & ROC Licence approvals & whatever else AAOG meet need to do . .
Without doubt ISA investors will make money as benchmark @ 5.93p so that is .73p over issue price they have 109,331,01 good reasons to see the SP stay above 5.93p + big cash incentive for SP to go even higher .
Said a few times next six months will prove who is right or wrong obviously still think AAOG offers great investment potential , what others think /say/do is up to them .