Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Is our new cost efficient driller AA?
Yes, they said they'd appointed a cost efficient driller. They sounded pleased about that deal.
Yes there was a drill for equity arrangement
https://www.lse.co.uk/rns/ARCM/drill-for-equity-programme-99b5pc36deh3jwb.html
I think it was mentioned in the conference call that we have appointed a new drilling contractor for the upcoming work but I may be wrong on that.
Seems all is in hand an u am a big believer in the assets, company and BOD. I'm sure I'm wrong and hope to be corrected but do we not have drill for equity arrangement with our drilling contractor.?
Ella, I think my take on what he said was they looked at the costs they were slightly higher, then they had the opportunity in the KCB and Remy basically said on the call it was either they raise with a couple % dilution at company level but ensure they are fully covered and confident to fund the roadmap, or they waited so he decided to be more cautious and raise so they could execute as needed.
Not a great reason but I don't think it's sinister. Anyway that's the line given
Thanks F79, so either the 3-4 rigs mentioned in the Feb call wasn't accounted for in the 'fully funded to end 2022' statement in the Feb call or the placing hasn't really been justified. I realise it's not huge but it has annoyed me.
Ella, no I believed eve Remy said 3 on the call today but 500 metre depths there abouts being aimed at
Regards
More like a part T/O imo
I wasn't able to attend the call but deeper drilling (didn't mention actual depths)and having 3-4 drill rigs was mentioned in the investor call in Feb ( about 14:50) are we talking more than 3-4 rigs?
Ahh I see. Nah, not on Twitter mate.
Placing just really annoyed me but all is forgiven if they produce.
as you posted,Stock Gazer tweeted exactly the same so I wondered if you are the Gazer Geezer ? :-))
Yes, the placing question was covered.
The company was fully funded until the end of 2022 after which the company would be self-funding from positive cashflows from production. Two things changed this:
1. After detailed work on the 2,500 soil samples that were selected by Anglo American for laboratory assay, the company has new targets which it wants to test for sulphides. This will involve deeper drilling to 500M and beyond. Previously drilling was at a shallower depth up to 200M. This obviously requires a larger budget for drilling but will be game changing for the company if the deeper drilling is successful
2. The opportunity arose to pick up the 'best piece of land' available in the Kalahari Copper belt as Kopara decided to sell it to concentrate on its assets in Australia. The company has been tracking this land package for 2 years in case Kopara decided to sell as it would add serious value to ARC. Funds will need to be deployed to move this asset forward hence the second reason for a fundraise.
2.
Gazer?
Lovely jubbly. Thanks - couldn't dial in for it but sounds like it went well.
@CuriusGazer? -calmly explained a pre-emtive raise due to the opportunity of the Botswana purchase and drills @ Ch E are going to be deeper than norm (500m)-listen when you can-it's better than I could explain.
Remy covered this with additional costs for deeper drilling to 500m for 18 holes and additional capex for processing plant and also botswana licences were to good to miss!!!
Has anyone asked about the placing and why they went from "We're fully cashed up" to another sudden placing? It killed sentiment in the stock. I'm a happy holder and a good answer here would go some way I think to placating sentiment.