Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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To add on CMA claims - I would be surprised if anything comes off it for Boohoo - they would have been smart enough to follow guidance to the tee - this is from the May 2022 Annual Report before CMA launched their probe:
2021 Publish responsible marketing principles: Make it easier for customers to makesustainable choices with us
Following the guidance of the Competition Markets Authority (“CMA”) Green Claims Code, we are ensuring that when we use the READY FOR THE FUTURE strapline that we are explicitly stating the product composition. We want our claims to be accurate and understood by all. This past year we worked to understand customer insights about sustainability. We
conducted a sustainability specific customer survey in April 2021. From the results of the survey, we gained new insights in our customers’ views about sustainability and the role it plays in their fashion choices."
I don't think there will be any fine for Boohoo as their legal team would have ensured that they were within the guidelines.
Also see the below re the plastic packaging tax:
Kathy Illingworth, head of sustainability consulting at Ecoveritas said of Boohoo: “Their openness and transparency are what we all want to see. However, imported plastic packaging such as hangers, tags, and secondary overbags will also likely present headaches."
https://www.packagingnews.co.uk/news/environment/plastic-packaging-tax/boohoo-praised-for-proactive-plastic-packaging-tax-work-06-09-2022
They are clearly conscious and one step ahead - I think conversely, ASOS have taken their foot off the gas with so many C-level changes - what they did was far more reactive than proactive (boohoo)
https://www.theindustry.fashion/asos-removes-responsible-edit-range-and-filter-amid-cma-greenwashing-probe/#:~:text=An%20ASOS%20spokesperson%20told%20The,informed%20them%20of%20this%20move.
The responsible edit has disappeared from their website however Boohoo's ready for the future range still remains.
These guys aren't stupid.
As always do your own research.
Boohoo aren't perfect and have made massive mistakes and have been rightly called out. It will take them time to repair their reputation but remember the market is fickle - they still hit highs after the Leicester slavery scandle broke. People can kick and scream about how much they love the environment but capitalism always wins in our greedy world. The energy crisis has brought back fracking and drilling for oil and the days of Cop26 are long gone.
Can the CMA probe the govt for greenwashing too?
I belive there's got to be upside "feeding through" now from the Debenham's and other sites they bought. That's in addition to the existing boohoo sites. Lets not forget, that purchase came with a huge customer base.
The company burnt through nearly £300 million last year.....survival isnt guaranteed
Worst case, even if the worst does happen and this goes to 20p, what stops a US buyer with a higher valuation (listed on the NYSE) buying this for £1+. The lower this goes the more risk shorters are in that a hostile bid comes through.
A US buyer will see this as extraordinarily cheap. All they have to do is supplement the US offering and get more DCs there and a bit more marketing in the US and they'll make their return.
So LT whether this gets bought out or recovers, the shorts need to close at some point as high risk both happening.
If it does fall to 20p, a US buyer will be stupid not to buy it as they are already getting a massive discount with the strengthening dollar.
Going back to Citadel, they do like to take a very active approach with equities and partner with investor relations for the companies they invest in. "Participating in thousands of company meetings annually across the globe, we believe in engaging with the companies we analyse and invest with."
Wouldn't put it past Mahmood to tell Kenny G that it's all good for the Sept update.
asos and THG not doing well today but Boo looks good, good news coming hopefully...
Kim Kardashian can buy it easy she is worth 1.8 billion, maybe that might happen, the rumour starts here.
Worst case scenario Boohoo could sell some of it's assets. Do a RI. Extend its loan facility. But with the way Boohoo has been taking on new ambassadors recently I think we can all agree thinks are looking pretty good. My guess is they'll be an offer on the table soon. But it will get rejected at these levels. That will push the price to above £1. Then hopefully inflation will have calmed down and we can get back to business.