Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Jim
As usual mon ami you put it perfectly.
Just a quick thought:
We are approaching £100 mill mkt cap.
This is often perceived as the min benchmark for larger investors re investment decisions
Do you think this may start to permeate BOD strategic thinking?
IK
GL
If a consortia potential , who are likely partners?
So they're effectively saying, the FARM IN RNS is likely to announced before the 9th March, that being the extension date of the CLN!
As noted previously, they are much closer to those Farm in talks than us and have been emphatic in references to it and notably as 'Plan A' in all official RNSs and interviews if late.
The Re-rating off such can be expected to be a massive one of course, as it opens up far bigger possibilities for BPC at vastly reduced dilution to Shareholders - the BoD clearly aligned with us on that.
Puts the current share price into perspective!
dubed, As has been discussed on this board previously you are technically correct to say BPC do not have the CLN money as there are conditions to be met, however, these conditions are for things like having a drilling rig, having an EA permit, etc. These items are essential to going drilling so if they don't have these they are not going drilling. I would say the question needs to be rephrased slightly, it's not 'do BPC have the CLN money?' It's 'are BPC going drilling?' If people believe the latter then i think it is not unreasonable to assume the CLN is a given.
We must remember also that it is clear BPC's view is the CLN is a last resort, Eytan said as much last night at the Mayfair presentation. He said they would always try and protect the shareholders from greater dilution if that were possible i.e. he said if they can do anything to prevent or mitigate a 590m share issue in relation to the CLN then they will explore those options. He said if a major were to give them a cheque for these funds they can forget about the CLN. With this in mind it is highly unlikely we will see the CLN taken up until the absolute latest possible date and this may even mean going beyond the 9th March date, in my opinion.
The Company are trying to look after shareholder interests. This may not fit entirely with the short term interests of Day Traders but the LTH's are being looked after, in my opinion.
Robbo
EIA cannot be issued until:-
All parties are known ———TBA
Rig is known.———-TBA
Flora/Fauna/Seawater systemic analysis is done.———-which occurs immediately prior to ops commencement for onward comparison re environmental impact. I.E. Baseline set.
The BG are not going to turn EIA down after re- issuing Licences, giving BPC until end of 2020 to drill, authorizing a MF for Bahamians to invest, being bankrupt with no alternative sources of revenue etc.etc.
At some point whilst not actually issued it is irrevocable.
Also BPC has already committed expenditure of millions of dollars and there is no way that would happen without the EIA nod of approval
IK
GL
@AE. Politely, you haven't understood the situation. We have secured a funding capability for approx 20m only - this includes the recent agreement for an expanded share base. As per SLarry, the CLN has not been signed off. As has been discussed long before the recent johnny comes latelys came to this board, it's difficult to imagine that bizzel would risk such significant sums on a drill when the asset base would be about zero in the case of a dry well. So in my mind, the CLN has always been about forcing the hand of a potential farm-in partner.
Exactly... its all there in the flipping black and white. I can really see why people give up posting 'facts'.
Secondly, here is a direct quote from SP at the 2019AGM when questioned about the exclusivity deal
‘ To say that discussions with any company have stopped is not correct. ’
Taken directly from yesterday’s RNS
‘Attention is drawn to the fact that, as detailed above, draw down of funds from the Conditional Convertible Note Subscription Agreement remains dependent on a number of conditions first having been satisfied. To the extent the conditions are not satisfied there is a risk that the Company will not be able to receive the funding contemplated in the Conditional Convertible Note Subscription Agreement, unless those conditions are waived by the subscribers. However, given that a number of the conditions are necessary prerequisites to drilling commencing, the Directors are confident that the conditions precedent can be satisfied in a timely manner such that funding under the Conditional Convertible Note Subscription Agreement will be available as and when required.’
Its all part and parcel of build up to being able fulfil drill obligations, they are intrinsically linked.
SL
Could you remind us which ones haven’t been fulfilled because I’m missing something here
Cheers.
IK.
GL
CLN dependant on fulfilling conditions - there are still a few outstanding. Well worth a re-cap of the conditions - see the RNS issued on 10th October which details them all.
Unbelievable!
dube, we are drilling April, money is there. If we don’t drill we are most certainly a busted flush based upon we won’t have any licenses. Really must get your facts into the same reality as what is reality.
Dubed
Genuine question to make sure I’m not missing something.
Why do you not think that we have $36 mill committed financing?
@AE - no we don't. Given also that we'd be a busted flush if the first of the drilling is dry then we need a farm-in.
We have the funds to drill, let’s drill 100% our find... Excellent rise in the sp.
Was the question asked last night!!!!!!
Had the company actualy received any offers of a farm in, or just the majors are still looking and interested. When you rent a room or sell a house you get offers,
But if BPC have clearly stated we have had offers, but are still thinking about it, then that is a lot better than just companies still looking.
At the risk of being accused of ramping (which I don’t do) I would hate to be a MM at the open trying to price this.
Suspect price monitoring extensions may occur.
GLA
Jim
Absolutely I know you and I and some others here never believed they had “walked!”
GL Boss.
After all this time we finally get the answer on this. As a lot of us were saying at the time the Major NEVER walked. Vindicated.
Bring on the next positive RNS please.