Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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It wasn’t a problem for him as I recall HITS…..until he sold out and called for that EGM of course!!
back in posting under a new name and it no an “Elephant “.
Still totally clueless or deliberately misleading under his new moniker though!
Cuddo/ED, you do make me laugh.
You say "We know that they have addressed the elephant in the room"... and that's perfectly true. As I've said, getting agreement to postpone an Apr 2022 debt repayment of £1.4 million which it wouldn't have had, was a good thing for ANGS - but far more an absolutely essential thing. Yes it may have cost the company an effective c. 12% annual interest rather than the previously agreed 4% to secure the extra 12 months, but in my very firm opinion, this was the only sensible option for ANGS to do.
And yes, this looming £1.4 million payment was indeed a very large "elephant in the room" - as anyone having done even minor research on ANGS would have known.
But (and here's the question), if this was such a significantly worrying and glaringly conspicuous elephant in the room... how come you never mentioned it even once throughout your undeviating positivity, since appearing here (under this ID at least) a couple of weeks back?
Of course, now that ANGS has brought the matter to clear public attention, you're singing the company's praises at the top of your voice for dodging this particular bullet (at least for a further 12 months)... but you never once mentioned it before?
Disingenuous much?
The indicative terms provide for a four year amortising loan facility of up to £12million with a 12% margin over LIBOR, a 3% commitment fee payable out of the facility, a share grant of 30 million shares in Angus, issued over the life of the facility and an override of 8% on gross revenue following repayment of the facility.
As you say the RNS says “scheduling” not Schedule so expect a revised timeline.
Cudd./Ech
They have borrowed £12 million and drawn it down according to RNS releases. Why do you think they won’t be paying interest on it??
I’m sure the lenders would expect interest on the De-commission proportion for example.
We await EA news...
We now know management have a higher level of confidence on scheduling etc.
We know that they have addressed the elephant in the room.
We know the debt for £12m is potentially shared across SEL and Angus due in July 2022.
We await Sidetrack decision... Although the longer they wait the less interest charged via draw down from £12m debt facility...
All in all shaping to be a cracker.
Oh btw the bid for selling increased throughout day from 0.95p to 0.9778p towards close for 2.2m shares. You could buy 1m at 1.025p and 2.5m+ for 1.185p.
Good luck all ...
NFX and QBT moves will pale into insignificance if Angus Energy delivers end of.
Volume of 6.2m - perfectly reasonable 2-way trading today.
Huge
News.
Let that sink in...
Getting house in order.
As well as an excellent final paragraph.
So much to look forward to IMO.
There should be no doubt that this is very good news.
The pressure in April 2022 is eliminated.
Funds coming from gas could be directed towards Lidsey or other progress. Lidsey may get farmed out anyway.
With EA permission expected shortly we should see serious upward price movement.
additionally. equipment is arriving which eliminates heaps of logistic problems.
Todays news is very bullish and market will probably wake up begging for shares. Let people digest the news today.
The derampers have been dealt a huge blow. Probably now they will be arguing there is no gas.
the increase in gas prices is an immense bonus .
Be under no illusion much as derampers hate to admit it.
Converting a Loan Note is lovely working to short a stock, its tried and tested. The more the notes get converted the greater and overhang is created and sometimes its death spiral favoured for AIM stocks. However todays dramatic development is an extremely bullish move in my opinion. Warrants of 108m shares at 1.30p is far better than 140m shares at 1p for us ordinary private investors.
Whichever I read it, yes an 11.2m share consideration has been given but extending the total mandatory payment by a year and then 6 months extension to start unloading can all alleviate dilution concerns.
Massive news - I will more than likely add me thinks!
Excellent news
https://twitter.com/DVH_Phoenix/status/1450916634353405955
our resident technical 'expert(s)' arguments are being removed one by one.
1) Knowe loan delayed to "relieve the Company of a possible cash outlflow in the early months of production at Saltfleetby"
2) SFB still on course "we now have a much higher level of confidence in our scheduling for construction and commissioning."
have a nice night LOL!
Our time is coming???
https://twitter.com/DVH_Phoenix/status/1450916634353405955