Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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1 weeks, 2 weeks, a month before this share disappears?
I am out of here now , but a short few years ago this nearly touched 200p when it was Northern Petroleum? I had a target to sell of 200p--it did not reach that , I held in vain hope it was only a hiccup when it fell----he rest is history. I am sorry peeps I would not touch this with a barge pole--BUT its only MY opinion DYOR of course
at CAB's website. There we are down 58% .... wipe out soon.
Why do you after the spread. Do you want to buy?
lol
A bargain at three times the new share offer price with an equity placing to raise money for a project that may not even get started. mmmmm
The bid price rose 100 %, propelling the mid-price up by 20 %!
Still a bargain...
300% LOL
Who s going to catch the falling knife?
plus theres more... 'On completion of the Fundraising, it is the Company's intention to then seek further equity and/or debt funding, on terms yet to be agreed, which, subject to the level of funding raised, will allow the Company to settle the remainder of the overdue Canadian trade creditors and fund the Group's corporate expenses and may be sufficient to commence a Canadian production development programme or fund Italy offshore exploration seismic acquisition costs.
Given the near-term requirement for a further equity fundraise following the Proposals, the Directors are seeking shareholder authority to disapply pre-emption rights of approximately 20 per cent of the Company's Enlarged Issued Share Capital (assuming full take-up of the Open Offer), which is in excess of the level recommended by National Association of Pension Funds, in order that the Board can provide certainty to investors in respect of the Group's proposed funding requirements at the end of Q1 2019 and to avoid the management time and costs involved in seeking further shareholder approval again before the Company's next annual general meeting.'
I suppose they have to be applauded for getting any interest at all. Unfortunately the paragraph hidden away in the rse end of the rns
'The Italian government is currently considering an amendment to the law covering oil and gas exploration activities that applies to both onshore and offshore licences that, if enacted, could materially impact the Company's proposed activities in Italy in the medium term. The amendment would result in a moratorium on all future work on exploration permits or applications for new exploration permits during which all existing permits will be suspended, and no exploration activities will be allowed, for up to two years' kind of belies the whole point of the fund raising exercise.Its just like Groundhog Day again and again and......
...And without any lube!
plus further dilution shortly after!
'The Issue Price of 10 pence per New Ordinary Share is adjusted to take account of the Share Capital Reorganisation and represents a discount of approximately 80 per cent (adjusted to take account of the Share Capital Reorganisation) to the middle market closing price per Existing Ordinary Share on 11 February 2019.'
AND further shafting still to come
well shafted
United Oil & Gas (UOG) have today released a CPR covering the Selva Gas Field which is located in the Po Valley, Italy https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/UOG/13961024.html
Cabot Energy has farmed out its Cascina Alberto Permit in the Po Valley to Shell Italia. Cabot retains a 20% interest in the Permit and is carried for 2D seismic operations up to $4 million and for drilling of a single exploration well up to $50 million. Shell Italia are scheduled to carry out seismic work in 2019.
GLA
I guess it depends how much they can raise to pay their pensions and salaries. I would think CAB's future is very much in the hands of Shell Italia, and its never bothered them in the last 20 years. There is almost certainly oil and gas in the region they have licences in. Whether it is financially feasible to extract in the current climate is another matter. The history of this company is awash with incapability. Saying they will be raising capital in January and then putting it back to February is a bit like the ongoing Brexit negotiations, loosing credibility by the day
' the Company intends to undertake an equity fundraising in February 2019, which would be subject to shareholder approval' and as an added incentive for shareholders..
'The Company would then plan to approach the market again, probably in early Q2 2019, to seek further debt and equity funding' and if you do not do what they want..
'Failure to complete a first fundraising in February 2019 would cast significant doubt upon the Group's continued ability to operate as a going concern as it may be unable to realise its assets and discharge its liabilities in the normal course of business.'
Another AIM failure
Quarter. Currently well below nominal price so will see what happens.
Right, since this share doesn't make us money, perhaps we should open a bet on how much longer CAB will be trading. £5 a punt and whoever gets closest to the date they delist, wins the pot.
You will make way more this way than waiting for getting a return from your initial investment here.
0.25p would be my guess.
What are the directors paying themselves again?
+ GM required to issue shares @ below nominal 1p = not good..
Any equity fundraising, which would be subject to shareholder approval, is expected to be undertaken at a deep discount to the current market price and, once finalised, is expected to be announced during January 2019. The Directors intend extending an invitation to all shareholders to participate in any equity fundraising on the same terms as the Company's major shareholders by way of an open offer. The Company would then plan to approach the market again in Q2 2019 to seek further equity funding for a growth business case.
The Directors are reasonably optimistic that the Company can raise additional equity funding from existing and new shareholders, as it has done in the past, but it is not wholly within the Company's control and as such, represents a material financial uncertainty. Failure to complete a fundraising in January 2019 would cast significant doubt upon the Company's continued ability to operate as a going concern as it may be unable to realise its assets and discharge its liabilities in the normal course of business.
Corporate Update - 31 December 2018
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CAB/13918907.html
Same today? I see more selling and a drop in SP.
Ah well, not much longer and another share on Aim bites the dust
Data at 9.28am 8th January 2019.