Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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not forgetting only a proposal (although I think it will happen)
"... proposed private placement of up to US$3,000,000 "
This could change.
who really knows - but this approach is apparently quite common in the US - i do know they don't do open placings so that would never be an option as things stand - I think this is probably more to do with nasdaq requirements and they need to move quickly....
You have to ask yourself why do a discounted private placement now rather than wait till production and do a premium placing. They have their reasons - timing is I think the major factor. Open placings can be expensive to run - and can not be executed quickly.
Hopefully this cloud will all pass over soon - I see also there is no mass exodus of sellers after todays news....
there is possibly the requirements to have more cash on the balance sheet for nasdaq purposes
Hi orslega
Sorry mate I just don't buy that at all. I do not wish to be confrontational in any way but doing a placing with warrants at so far below the share price smells to me of one of two things. Either doing some a nice little favour or desperation for cash. The " high profile investing community " you speak of don't have to spread the word to anyone about " huge potential returns " at PQE as they are already doing very nicely with the price paid by them for shares.
I would suggest that if PQE wanted to raise $3m+ they could have done an open placing at say 0.30 with warrants? Plenty would have put in when share price is over 20% above that.
I understand that this private placement has been targeted at high profile investing community who will be spreading the word about the huge potential returns here - so sticky investment for them as the story unfolds - they will know far more than the ordinary investor; not my preferred way to carry on I can see the argument in achieving a much higher share price with this methodology....
I could probably get out of PQE about level or maybe a small drink today. We have all seen the videos, and read all the chat on here, twitter etc..But there is no getting away with it that these issues of shares, Placing, warrants, are lousy. Never mind the 4 month lock in as there are going to be many millions of shares to be sold at some point, the question is when? I doubt this will go anywhere for quite a while, never mind the dollar we all thought.
I agree Tully - the price looks too low - shares and warrants for AB mates.....
I was puzzled as to why PQE fell yesterday, i'm not puzzled anymore..
Question: If everything is going so well and production is imminent, why such poor placing price? $3m at 0.18 per share!! Granted that's US dollars but it's still only 0.24 Canadian. Also warrants for loads more at 0.23.
that's US - but yes, they got lucky.....
At .13 ?
last raise before they get full blown production going - better be!lol
PQE RNS
https://twitter.com/eri****tall/status/1173600675193917440?s=19
PS although all the fuss about Saudi is focussed on oil they also produce a lot of NG and that has been affected too. The US now exports a lot of LNG and so the Saudi capacity being offline should fee into world prices and the US in due course.
DYOR
Things going our way at the moment: Natural Gas is at $2.70 (we produce a lot of gas out of FW and some gas from ZR) and WTI is currently $60.33 meaning that we get around $66.00 for the oil out of Austin.
If current production is around 125 boepd that rise is worth around $22k per month extra to us; ie., it funds maybe 1 or 1.5 workovers. Natural Gas should continue to rise from here on in.
Henry Hub has NG peaking at $2.94 in due course.. https://www.cmegroup.com/trading/energy/natural-gas/natural-gas.html
I suspect once the bad weather comes in that will end up closer to $4.00.
DYOR