Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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My fault for raising it, but thanks again leas and best of British in getting things resolved promptly.
Bunsen, if they are in your name then they cannot sell them. If they have been bought in a nominee's name then make sure you keeps a record of the transaction and number of shares held. You may find that other investors like yourself have got shares in AMER held by Hargreaves so it is important that you can evidence your amount in the unlikely case of them going into administration.
I wont post anymore on this subject as it only serves to clog up the bb.
What if you bought your shares from Hargreaves lansdown?
Bumble, and for anyone else with online accounts, make sure you know whether or not the shares are in your name or a nominee name. If it is the latter then a nominee can effectively sell your shares without your knowledge and then put them selves or get forced into administration. If the company was in admin then your relying on them to have kept their books in order.
My advice to anyone is take regular paper copies of any holdings and every transaction. Thankfully SVS did keep an up to date record (for my investments) but if that was not the case then you would struggle proving to the FCA what sums you did invest.
Sorry guys for going off topic but very relevant in today's method of trading.
Cheers, BF: I’ll take a look at iWeb. These issues are super-important and its great to get ideas ...and a little solidarity within the serious PI community.
What are you all on about?
I’ve also just had mine transferred. I also have a separate account with I web, I had been considering moving it all to iWeb as there is no monthly fee and lower dealing charges, but now I’m having second thoughts!
Is that another RNS just out?
Thanks for posting, leas. You must have just about the best (lowest) average price for AMER shares of anyone on the board, if it’s any consolation.
I am well into seven figures with my account balance at Interactive Investors (which took over my Alliance Trust Savings brokerage recently). At that level of investments, staying below 80£k at each broker is nigh-on impossible. I suppose I could open another account elsewhere to spread the risk.
I bet loads of people on here have exactly the same issue. First world problems...
That is very annoying Lees thanks for sharing your experience
In English?
Thanks caution.... May be a blessing in disguise. Spoke to the administrators last week who have confirmed my holdings in investments and informed me that if AMER are sold before I have control over them then the final valuation will be 'ring fenced'
My average here is 12p so the worst case scenario is getting all of my money back.
I did intend going the course with AMER but any choice of when to sell at the moment is completely out of my hands. Maybe a cautionary tale for investors here, use a number of different brokers so you stay below the 80k threshold and perhaps consider using up a family member's allowance if the investments are larger and the tax benefits that could bring.
Have to say my incentive to research is no longer there as they remain in the hands of the administrators.
Ironically, my decision to switch from paper share certificates (in my name) to an online nominee platform was a result of a very well known saving expert website. Never had a problem in the last 30 years with the Pidgeon post method.
As crazy as it sounds, I never knew the dangers of buying shares in a nominee account and I urge other LSE members to consider the implications of that should a company go into admin. SVS XO had a very good reputation and reasonable fees, or so I was told.
Hope you get your account unlocked soon, leas. I feel for you.
I do not see ONGC dragging their feet as a major problem in coming to a sensible valuation for the CPO-5 field or a valuation for the whole company. The President of the Country has already made everyone in the oil business aware of the significance of the discovery. Not only that, seismic data will be available and the ramping up of the infrastructure indicates to any buyer that CPO-5 will be a very lucrative buy.
Not saying further proving up wouldn't be helpful but I don't buy into ONGC wanting to purposely delay progress in order to undermine valuation of our company. The BoD's have been historically bad at communication but they will have all the data available to them in order to demand a fair value. Many investors are also failing to mention other licences the company has, and although not tested will affect the price for the sum of all parts.
One thing that will be a relief is not having to follow ONgC machinations any more. I have a largish team in India, staffing there is a nightmare. I have more fraud, corruption, and general HR scandals to deal with there than everywhere else I have teams combined, and their government processes reflect this.
Reflecting this ONGC are awful to do business with on any level, but even the non state run energy companies are barely any better. It’s a beautiful country with amazing people, but compared to say China or a Western country, it really is quite impossible to do business in or with India.
Do you think that AMER are paying 30% toward all overhead costs associated with CP-05?
What are AMER liable for?
Answers anyone?
only irritation that I didn't add as tempted in the 16's, had a gut feel it would have a bounce and I know I would have traded them already but hey a nice 10% would have been nice.
Happy with my original holding in the 11's though
On the subject of over thinking it, I've again been wound up by ONGC who have released yet another amendment to a growing list of tenders that seem to be refreshing previous expired of failed efforts.
What is telling about this one, perhaps, is that it is an extension of the deadline for a previous tender, which I suspect needs to be in place before they can progress the drilling campaign (hope I'm wrong and it's for existing wells) - the closing date in now unspecified so I guess it could go on for weeks.
and another though crossed my mind - what if the potential bidders (I suspect there is a relatively small pool of capable contractors ) for ONGC's tender farce have now had enough of wasting there resources bidding for contracts that never result in any work and have decided to No-Bid. It's not as daft as it may sound if as appears to be the case the volume of work in Colombia is picking up, they may have been stung already be committing resources to wells that never materialise.
Maybe that's the problem ONGC now have rather than deliberately dragging their feet - they are hell to do business with, clearly those that have raised questions appear to have posed difficult issues they are struggling to address.
"Hiring of Surface Testing Facilities for testing of Wells In CPO-5 Block on Open Tender basis under Two bid system
(Tender No. ONGC-VL/COLOMBIA/MM/OT/Surface Testing Facilities/220/2019/43). It is informed that the Date & Time of Bid submission / closing is postponed, and the revised date will be intimated along with the reply by ONGC-VL to the queries raised by the bidders."