Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I'm a bit adrift on the covid extension...it would apply only to Parki No 6 licence I imagine. I'm assuming Kallak south comes under the aegis of our current application, where all necessary exploration has been achieved...ie necessary to maintain the licence. It's only rubbishy speculation on my part.
Only the facts as I understand them...
Grateful you clarified a few points Pocko.
Hopefully I'm now a little wiser on the matter
Firstly, you need to distinguish between SDRâs traded on Spotlight as being âSwedish ownedâ, as there are many investors from Norway and Denmark. So itâs misleading to say that of the 70% trading in Sweden, they are Swedish owned - Because they are not.
Likewise, Jokkmokk Iron Mines AB is a Swedish subsidiary owned by BEM and is actually the holder of our exploration permits in Sweden, including Kallak. So one could argue that it is already a âSwedishâCompany.
Does any of this actually make a difference? Who knows...
I just wondered if, given their majority, the swedish shareholders given a choice, may prefer Beowulf to be a Swedish company and how that might affect us
Takeover? By whom? A ragbag collective of private investors from Norway, Denmark and Sweden? (Thatâs just the nationalities that I know) There are no institutional investors beyond Starvest, and their holding has diminished over time - Assuming they still have an interest.
I suggest you read this... https://www.thetakeoverpanel.org.uk/the-code/download-code
Not a great dilution, true, but with 6 months interest, that takes the equity exchange to c. 20m shares. They will be issued in Swedish Depository Receipts which will take the total swedish ownership over 70%. Not sure if this is significant but 70% also happens to be the benchmark regarding takeovers. Could that also mean that a vote could be taken to delist from London to Sweden both in registratin and Stock Market.
Just surmising and probably way off beam
True, we have already demonstrated that Kallak is economically viable, so at this stage, further drilling would not necessarily strengthen our application - But if that is the case, why was a drilling campaign planned?
The exploration permit does have a time-limit as you correctly state, extended due to Covid 19 - However, upon expiration, BEM would have to demonstrate a drilling campaign and or other activity for it to be re-issued. So yes, maybe KB is playing the long game on that one to preserve finances - Speaking of which, the loan needs to be paid in full by the 15th February 2021 or it will be converted into equity in the form of SDR's. No great dilution will occur, but it is interesting nonetheless.
I don't expect anything particularly hard-hitting on the 27th, but I am certainly looking forward to it.
And as for Kiruna, reindeer don't seem to be an issue there? Here's hoping they find zilch... As it it might just put Kallak into perspective?
The covid situation actually helps us there because we get an extension to the time we have for exploration.
Yes, is it survival tactics? We got about 5% increase in the sp with the Wolf Mountain target...and there's no telling when the Swedish Government will deliver. If we get a good result from drilling in Kosovo we add to our value but there's no telling if more iron at Kallak would bring a decision any closer.
And having read the article, it does raise the obvious question about our own delayed drilling programme?
Unfortunately, I derive my excitement from upwards movement in the SP.
The projects that we have, if taken to development, should be transformative for the company and shareholders. But delivery is key...
Got it..this link was posted by Braintec on 15 Oct:
https://www.svt.se/nyheter/lokalt/norrbotten/lkab-soker-framtidens-jarnmalm-mitt-i-kiruna
True Pocko...but it's going to be exciting....he drill bit or the Concession...talking of the drill bit they've been drilling in Kiruna since May, the results should be out soon...they targeted 1350 metres I think.
The drill bit and news on the Kallak exploitation licence are the only things that will genuinely get this moving...