Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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should add topped up with 400kshares !
thanks, I couldn't find the RNS initially it is buried on the BPC home page under investors, looks good, constructive. I don't like the long window for Stena to confirm an operational date I guess this is a normal window in the industry but its a big window IMO. "At any time after 1 September 2020 but prior to 1 November 2020" . then the date from December 15th but extended window to April lots of variables in dates. The solid window seems to the rig dates "Stena must provide the rig on location to commence drilling within a firm time window of 15 December 2020 to 1 February 2021". but even that is a 7-week window. Patience is required I know but in this ludicrous world anything can happen !!
Investment Options
Consequent on entry into the rig contract, BPC has granted several investment options to Stena Drilling Limited (the "Optionholder"), such that, prior to 1 December 2020, the Optionholder has the right (but not the obligation, and there can be no assurance that the Optionholder will exercise the right, all or in part) to (i) subscribe for up to $10 million of new equity in BPC on the same terms and conditions as would apply in any BPC capital raising, or (ii) farm-in to the BPC southern licences on the basis of $10 million for a 10% non-operated working interest. If the Optionholder were to seek to take up either of these investment options, the consideration could be satisfied either in cash or by way of offset against amounts payable by BPC under the Rig Contact.
Potter is valuing the drill at $100 million, offering a % to Stena at $1miilion per 1%, I'd guess the offer is open to others too?
Any body got an idea on the vague finance statement in the RNS highlights i have just read , have not seen the actual I got this off the stena site...." but also clears the way to revisit our funding strategy with adequate time to ensure we have the funds available as and when we need them, on the best possible terms. I look forward to updating shareholders in the coming months as we continue making progress towards recommencing operations". If rig costs are reduced then funding must be adequate , if they are revisting the funding then why is that ? Just asking you guys what you think