Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Ruffles accuracy has been very impressive thus far, so when he says Drilling 2022 Summer/Autumn I believe the deal is getting close.
To potentially drill Summer 2022 means they could be drilling as early as next month.
When the deal was announced I wrote to the company expressing concern over the proposed timeline
"An exclusivity period has been agreed for up to 90 days to allow for due diligence, and up to an additional 90 days for the negotiation and execution of the Joint Venture Documents."
I was told not to read too much into the timeline as this was a boilerplate agreement. My understanding of that is this is a standard document that has been used many times before and the timeline allows for any issues the legals might find to be ironed out without jeopardising the deal.
Lastly, as a result of the executed warrants Arc's current cash position is better than that declared in the Annual Report.
When they issued the CASA Disposal Update RNS on Friday, I thought it might finish with a one liner saying something along the lines of
After receipt of the first installment of $125k, Arc's current cash balance stands at $xx
If the deal was still a long way off I would have thought they would have taken the opportunity to reassure investors of the current positive cash position but they didn't.
If the deal is fairly close perhaps they thought there was really no need to do that.
Wow 100000m drilled in one year on 300 holes.
I wasn’t aware of that.
Makes me smile just thinking about what we could find on our licences with that amount of drilling.
Have a good weekend all.
Leopards and spots and all that.
Cattleman,
You're probably already aware, as this board has some very aware posters, but the FQM annual report from 2010 has some interesting bits. It discusses FQM's activities in the first year it owned Sentinel. It's obviously a slightly different scenario as there was a loosely defined resource already in existence at Sentinel but it is interesting none the less.
Or a lucky guesser !
Fascinating Ruffles is right everytime. It can only be someone at the top of decision making process or access to a top decision makers.
I guess we're expecting the consultation on the mining policy in Zambia to be completed fairly quickly then.
https://www.ippmedia.com/en/news/zambian-minister-praises-mineral-sector-reforms
Sometimes Ruffles tweets need subtitles-so for clarity-the fact that he is predicting a Summer/ Autumn drilling start,it means that the JV will have been initiated by then with all the other loose ends tied up before then WTS
Ruffles means Zam,and the terrain /rains are only a problem if there are no roads-Anglo will now know where they will be drilling first and putting in a few roads( which be part of the Zam road improvement plan,with the work being done by locals) is straight forward.When the market is getting widely trashed it's great to have positive news and a laugh at the same time. Bring on the drills....!
You can check back through the RNS’s but from memory they have drilled as late as mid to late December. Obviously each year will be vary but the rains typically start to ramp up in November and are heaviest in December-March.
Let's find the motherload in both Zambia & Botswana.
If this JV is done quicker than I thought and we drill with AA this Summer/Autumn, I'd expect a complete re rate of the company. I had summer 2023 in mind.
Hope Ruffles doesn't mean Botswana!
How late can they drill on a normal year? and is all our licences the same i/e..can some be drilled a lot later because of the terrain
https://twitter.com/ruffles80/status/1542788690535235584?s=20&t=EcdWM2FiZHkFjvLWLTMxGw
Nick, err, sorry I meant Ruffles says we will be drilling this summer / autumn ;-)