Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
the facts are that BOD have been every economical with the truth about funding. is their guidance meant to mislead shareholders? meanwhile we are seeing regular maximum top ups in ISA . Only somebody in the know will put in 20K . The share price is being kept and all loose shares are being mopped up. it does suggest some inside trading where the BOD may be chatting to their mates and facilitating their cheap acquisitions. I have 18 million shares here. I am staying put . Patience is definitely exhausted .
At the moment it is possible to sell large quatities of shares (>3m) without going to NT so looks like someone is mopping up any shares that are sold. Expecting another TR1 pretty soon.
Good luck with your end of month decision, Yanis.
I have done similar. I was awaiting the IQ answers last week to gauge a sense of any update, and was giving the bod until this week to announce the funding news before taking some action.
For transparency, I have sold 1/3 of my ISA holding this morning, at a circa 45% loss, and have my non-ISA position on at a limit close to the current mid, which will be a 10% loss. I will sell this position regardless if not filled today.
This is much better than I could have imagined after Brockham when over 90% down, so not too disappointed given what this could have been, other than not taking anything out at the pre-Jan placing RNS spike when I was almost at break-even. Hindsight!
Since Brockham, I have always only been here for SF, and always had a more conservative target of 2p to 2.5p compared to many, but my expectation was for first gas at the end of last year, or Jan 2021 at the latest.
I cannot see gas until next year now, tbh, and feel that even my target SP is being eroded away, despite some of the valuations being bandied about this week on the bacl of this AAOG situation.
The ISA funds were always being allocated to a building job that was scheduled for this year and is starting this month, so will be put to good use, and the non-ISA trade will cover the cost of the 6 cases of wine purchased over the last lockdown, so will give me some enjoyment over the next 10-15 years too.
For my remaining holding, my intention is to sell half on funding news (if good) on any spike, and let the rest ride, but that will depend on the news released.
Happy with my decision here, so not interested in comments about selling so soon before news.
We have been waiting far too long on all fronts with SF. I have been patient (and positive) for the past year and more, but since Jan my patience has been tested, and my (reasonable) expectations continually dashed.
Good luck all
"Valuation of £16.32 million is now clear and will be duly reflected."
All in pieces of paper saying "this is worth £4 mm- honest, trust us, we have £200k in the bank don't you know"
Hope George doesn't read The Guardian
https://www.theguardian.com/environment/2021/may/06/hydrogen-fuel-risks-reliance-on-fossil-fuels
HeadintheSand - I wonder which ex-intern he is.
It makes one laugh, doesn't it? Much like George himself, Ocelot (who is ever more obviously a mere ANGS PR mouthpiece) now claims that the funding will take "the time it takes". Very confidence- inspiring... not. There's a massive can-kick for you.
And what a massive backtrack from the "by mid Feb" and "by end March" that George assured everyone of (and that Ocelot faithfully parroted) just a few months back.
Basically, George, ANGS and by reflection, Ocelot have absolutely no clue if any funding is ever going to be secured, let alone when.
Truly laughable. And truly pathetic.
We have made three hires since this loan facility was announced at the end of Q3. One Health and Safety Lead, one Site Supervisor and most recently, a Lead Operator in late March... (from answer to Investor Question asked on 30/04)
If the investors are there, the solicitors will work around the clock to meet deadlines … iron out all the issues … security and the lot! It doesn’t’ take months on end to do this..
IMIO, the reason it takes this long is because there are no investors … is obvious by now.
Ocelot, the deal was going to close last January! It is now May.
Is not the time it takes! - if it doesn’t close soon it never will. My deadline is this month, then is on to MY Phase 2.
How long do you think imminent is? A final furlong is? Near term is?
------------------------------
The time it takes.
James, I have circa £100k of my own money riding in Angus and I also would like to believe that we are very close to closing the funding deal too.
Would you say that if the funding deal is going to close it should close by end of this month? If not, when? End of June? July? Next year? 2023?
How long do you think imminent is? A final furlong is? Near term is?
I’ll say if it doesn’t close next week it never will. My deadline is this month, then is Phase 2. I had enough.
Yanis- I have far more shares here than you. I criticise the BOD but not relentlessly. I am equally P***d off with all the delays but I would like to believe that we are very close. If the financing is contingent on SEL RTO at AAOG, we are several weeks away. I don't think its the case . Again I am disappointed with the BOD for not releasing critical information in good time. They are playing very close to the fire. Having said that, with all the corporate activity surrounding the "pound land " as alleged, there must something worth there. Valuation of £16.32 million is now clear and will be duly reflected.
James, are you back to AAAG? Can you really not see what is happening?
How long is this “final furlong”? How long is a “near term”?
Me, I am giving it to end of this month at best, then is Phase 2.
still lots of shade of green. AAAG should claim overtime.
“I suspect the plan is to own the lot - 100%”
Did Forrest Nominees have to fork out £700k+ in order to achieve this? If the plan was to dilute us to oblivion, why waste three quarters of a million pounds?
"Premier Miton Group have 10.08% at AAOG and Forest Nominees have 10.14% at ANGS. Both would also get wiped out in any large contrived share issue, as would Know Properties, so what do they gain? "
I suspect the plan is to own the lot - 100%
HITS, the only thing that makes me hold on to the shares now is the involvement of Forrest Nominees.
As per last TR-1 filed, they are holding 94,496,666 shares. They bought these at an SP ranging from 0.6p to 1p, say 0.8p average. This equates to £756k This is a lot of money to invest in Angus after the initial funding announcement.
What is your view of this?
Yanis, I am of like mind - and have been since shortly after the "too good to be true" Poundland deal, that from memory cost ANGS -£2,499,999 (i.e. they got paid £2.5 million to take the field and associated liabilities on).
What's starting to additionally concern me is the decidedly murky shenanigans with SEL, AAOG and Forum Energy Services Ltd that revolve around Poundland, Yes, this is deckchair rearranging, because the option deal is effectively nothing but an intra-company zero value transfer. But as gkb has pointed out, this cannot make sourcing funding any easier - now an additional party having substantial ownership of the gas field being put up as security? And, (just like SEL), one with next to no assets?
I also suspect that something even murkier is going on. It's clear that those really running AAOG behind the scenes have been more than happy to agree to a scheme that finally and totally shafts their PIs (as if being delisted wasn't bad enough). I fear a similar thing is liable to happen to us ANGS PIs, as Mirasol predicted earlier today.
There are just too many interconnections, too many shared directors, too many shared registered company addresses... wheels within wheels within wheels, as gkb has said. It's literally the polar opposite of professional, open book corporate governance. So to my mind, something new is starting to smell even worse than usual.
And yes of course I'd love to be wrong - but gut feel and a little due diligence digging are both making me extremely wary now.
HITS, I lost my patience completely with this shower of BOD, they cannot organise a p*ss up in a brewery.
They been torturing us for far too long.
Trying to find a ray of hope from somewhere, a straw to clutch on but what is the point? If the investors where there it would not take this long to close the funding deal. As the time passes, I am getting more and more convinced that there are no investors out there willing to lend Angus the money. The ongoing delay is due to Angus searching for investors.
I cannot see what magic trick they can pull to come up with the funds. I am now 99% certain in my mind that there is no funding deal to be had. My 1% uncertainty is down to Forrest Nominees owing 10% of Angus - invested several hundred thousand pounds. Have they been suckered like the rest of us?
Yanis., it's always important to look at the language chosen.
With ANGS, they've gone from...
"...in the coming two to three weeks, with drawdown shortly thereafter" (25th Jan)
to...
"...with a view to making disbursements during the month of March" (22nd Feb)
then to...
"...imminent" (25th Feb)
then to...
"...we believe that we are in the final furlong" (15th March)
then to...
"...in the near term" (29th March)
and now they're saying...
"...but we do hope that the next RNS will be the happy announcement"
Anyone seeing the no doubt quite deliberate shift from "it's almost here" to "we hope it comes"?
Pathetic. And yet this is the garbage that Ocelot continues to try and spin?
And the last communication was this answer to an Investor Question asked on 20/04:
Progress has been steady but frustratingly slow. Further detail would demand an RNS but we do hope that the next RNS will be the happy announcement we have all been waiting for.
Last update RNS was on 20 March - SIX WEEKS AGO
https://www.lse.co.uk/rns/ANGS/update-re-saltfleetby-finance-facility-3pnftigl06omygv.html
It stated this: “…. Angus is preparing charges to be registered and working to satisfy the conditions precedent set out in the Loan Facility Agreement in view of signing the Agreements and receiving the funds in the NEAR TERM”.
I’ll say that 6 weeks is quite a bit more than “near term”?