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 sure it's going to bounce to high it will give everyone a nose bleed.
Get real rampers
Petrodollar. Bonum
Here you go
This is all set for a quick rebound wish I had more to put in, bargain buy here.
This will soon move back up and seller's will be left behind.
All begins next week.
Buy and hold.
Kevin55 - agree with all except for the 3 million profit. CERP lost £4.12m in 2019 and who knows how much in the six months of 2020 before merging with BPC.
WE? " I post researched caveated opinion most days and we will keep an eye out for any questions you may have."
SVS: eh?
"Welcoming new investors & pitching to potential investors".....
Starchild can you see why the accusations towards you continue to stack?
boil bagged with a 5 billion placing with no drill for years we have a drill next week and only a month to wait to results this will bag minimum imo
PageofCups,
The RNS states that 750,289,637 shares are being issued as part of the Open Offer - at 0.35p a share that raises £2.63m. It also states that the agents will seek 'to place the balance of Open Offer shares'. These shares have yet to be placed so they have yet to raise the minimum of £5m, have they?
No, the £5m condition was in relation to the £2m due in June. Here is the relevant part of the OO Circular:
"The date for funding and issue of the £2 million of Convertible Notes previously committed on an unconditional basis and initially intended to be drawn / funded at the end of February 2021 has now been rescheduled to be no later than 14 June 2021 (that is, concurrent with the anticipated completion of the drilling of the Saffron #2 well, but not dependent on the completion or outcome of the Saffron #2 well), as well as now expressed to be conditional on the Fundraising having successfully secured at least £5 million;"
However, as that paragraph alludes to, the £2m was due to be paid to the company on an unconditional basis in February and it wasn't. So you can believe that it will now arrive in June but you should apply at least some level of scrutiny.
The £10m was and remains just a facility. The >£5m raise was not necessary or sufficient condition for the £10m. It will be drawn down if both sides agree suitable conditions are met in the future: i.e. it is not unconditionally available just like it wasn't unconditionally available during P1 (when it ultimately was not delivered upon, hence the LO nightmare).
Why not add that shares can currently be bought on the open market cheaper than the Placing that the Broker and Placing Agent are trying to get away? Not many take part in placings a premium to the current price that any share trades at.
'they're' and 'their'
The condition for future funding by Bizzell at 8p per share was that a minimum of £5m be raised in the OO and Placing. £6.9m was raised, therefore the condition has been met and funding at 8p is now available which means follow on drilling after Saffron 2 and further production.
New holders: welcome to BPC.
Elevator pitch
Let’s start at the beginning. Millions of years ago, lots of little creatures died and turned into crude oil. For >10 years BPC spent c$150m trying to find them south of the Bahamas. The 8/2/21 drill result was a WPS but non-commercial. The SP collapsed, however BPC believes this asset can be monetized by 4th quarter. Their cousins in Trinidad and Suriname are hopefully about to be found at the first attempt, via a 1st spud in 4 days. This is known as Saffron 2, however there are 9 Saffrons and the whole South West Peninsula potentially holds 230mboe, the size of a North Sea oil field. BPC is currently producing 450-500boe/day and is aiming for 2500 by y/end.
Deep dive
I suggest all newbies watch two presentations by Eytan Uliel, CEO.
• 29/4/21 (31 mins) https://youtu.be/oEl4lw107OA
• 6/5/21 follow up QA interview (38 mins) https://www.youtube.com/watch?v=97B0ZuskdrI
• Read the 5 page Auctus 27/4/21 pro-analyst’s report which discusses a 1.2p SP short-term: https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2021/04/28113530/Auctus-BPC-27.04.2021.pdf
• Register for the UK-Investor-Mag conference on Tuesday. https://ukinvestormagazine.lpages.co/may-uk-investor-magazine-virtual-conference/
Warning: A small group, some who admit to shorting BPC and ex-holders, bombard negativity on this BB 24x7. Some resort to name calling and trolling, so be warned. There are several LTHs who occasionally air their frustrations. This is their right while sitting on 80-90% paper losses, however I believe this will change.
Some new holders will sell ASAP to make a quick 10-15% return. This is their right. But IMHO, at 0.35p the SP is seriously undervalued. Why? The funding bar is set @0.8p. Trinidad tax credits alone are c$25m net. In Aug 2020 BPC merged with CERP for c£25m at the hight of PoO collapse and Covid. Yet two years ago, a less developed CERP compared to now, had a MCap of >£40m. Lots of news is expected soon including the Bahamas autopsy. The large dollop of jam on the bread is if the Bahamas asset can be monetized 4th quarter. In the meantime, a lot is happening in Trinidad and Suriname to spread the risk/reward.
I subscribed to the OO and Placing and have been a shareholder since 2014 with 10s of millions of shares, mostly acquired since the Bahamas result. I post researched caveated opinion most days and we will keep an eye out for any questions you may have.
DYOR. GLA. Onwards and upwards.
Starchild
https://www.lse.co.uk/profiles/starchild/
Thebhoys: I am NOT a paid ramper. I do NOT post 24x7. I did NOT state ‘@0.9p, there’s not much room for the SP to drop.’ … I stand by the opinion I have stated on several occasions when the SP was 0.5p – 0.6p…. ‘There’s very little scope for the SP to fall further LONG-TERM, yet huge potential for a surge in the short-term. AIM is quick to punish and quick to reward its penny share companies.’
nice to see shorters are admiting there going to close there shorts
It's good RNS. It's so good to see so many buys :)
Not quite. The first £2m from Bizzell is should now be coming mid June, though it was meant to be coming in February and we have no explanation why it didn't. The further £10m facility is still available but entirely at the lender's discretion.
So they got it done. Probably time to close my short as the placing hasn't marked this down to a lower level. But Gneiss taking shares and the line about giving warrants to "various other sub placing agents" makes me think a lot of the shares have gone to parties that will try a flip them into the market at 0.35p or for a small loss and take a flyer the warrants will give them a future profit. 4 years is an incredibly long term for such warrants and a quick calc says these warrants are worth about 0.25p, so quite a sweetener. So there are probably several hundred million shares the holder would probably rather sell before taking the chance on S2, so I don't think it's going anywhere fast.
So, they have funds to drill Saffron2 and Bizzells £10m facility at 8p for further drilling. Minimum £5m was needed from the OO and Placing for the Bizzell funding which was passed as a resolution for shares to be issued at 8p.
"GLA the genuine LTH and to the rest of the doubters its time for you to move along to the next board and rinse and repeat."
--
'Retail' need to wake up and not be a 'typical' LT holder...guaranteed way to lose most of your capital.
Anyway, in my earlier posts I forgot to also mention the CL notes and so total share dilution is around 38%. This will be a long difficult recovery for those who originally bought in at around 2p levels (and could not/chose not to average down).
They have managed a successful dilution , we already knew they were masters of that, and now it’s all going in the next all or nothing drill well more like a little bit or bust drill now
Parpaign.
It seems the energy industry is exempt from the State of Emergency as it is regarded as an essential industry.
No impacts to operations anticipated.
agree its a play ground full of shorters with the atitude of ha told you so but that is now not the case
Amazed that so many pi's were happy to buy in to the OO and placing at a premium to last weeks price of 0.31p, also wasn't the Bizzell facility conditional on £8M being raised?
As expected the funding round is complete. Full steam ahead and hopefully shuts up plenty on here who expected 0.25, the company to go bust etc etc.
Now time to prove up the Oil and consistent cashflow and income.
Let the restart formally commence.
GLA the genuine LTH and to the rest of the doubters its time for you to move along to the next board and rinse and repeat.