Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Interesting discussion.
I was listening to Colin Bird (I know a marmite character but he's been around a long time) on the Sunday Roast midweek podcast AFP, and he made a very valid point gone are the days of the old style JVs where someone commits to something in the next 4 yrs for P1 then in the following 4 years of P2., and then perhaps another 4 yrs before any ruddy decision is made.
Shareholders no longer have the patience for this type of set up, and he's right.
I don't think the Professor will be living for another 20 years....
>> The JV has been a disappointment because Demir take forever to do anything. Again hardly the profs fault.
As MD it is his fault. The slowness of Turkish companies is well known in the business community. He should have been honest when the JV was signed. 10 years to get to mine application. 10 years for application and appeal process.
You can then decide if it pays to support the prof and Maureen for 20 years, and what annualised gain you may of achieved by then, allowing for a probability of success.
Much less than just investing in an SP tracker I would say, with a lot more risk.
I understand your frustration. The Conroy-Jones family seems to be doing well for itself but not a lot for shareholders. I get it.
Yes I'm aware of DS and he'll be here enjoying the uncertainty until we get positive results...then I'm not sure what he'll do with himself....no doubt he'll issue a sincere apology and beg for our forgiveness.....
Huge upside here if they would just tell us what's happening.
"Hardly the prof's fault"?? That's hilarious! It was only he who brought them in as a partner and announced it as "transformational"!
The ground hasn't delivered on the overstated optimism, but you still don't get it. €5 million sunk, no progress made.
Are you actually an investor though Goldbug? What was there before the prof started? Has he not been responsible for the exploration at Clontibret and Clay Lake. Was he not responsible for securing all the licence areas and building community relations? Was he not responsible for securing the JV agreement?
The JV has been a disappointment because Demir take forever to do anything. Again hardly the profs fault.
Paying yourself and multiple family members six figure salaries for doing very little over the years, then accruing half of it as debt because the company can't afford it, and converting this to shares so you get to remain in control, so continuing to pay yourself, is NOT "investing your own fortune"
Edochan I don't know if you are aware but that guy is a complete hater. He's desperate for cgnr to fail and will never admit why. He's posted consistently negative comments on here for years. He said the JV would never happen and it did. He claims that AAZ pulled out of the original JV although of course has no evidence of that whatsoever.
DS while I understand the scepticism, answer me this, why has the Professor invested so much of his own fortune into CG shares?
The prof has said on more than one occasion that other parties are very interested. I'm sure it's been discussed with Demir as there is a lot of ground.
They are at the PDAC jolly every year. And every year they say they've been talking to the majors.
Conroy Gold were at PDAC. Demir would know that. Something is going on.
The next announcement will be to raise more cash. They are due to run out in the next couple of months.
They can do a deal with Demir if they don't want to spend any more money. If they stay on and a 2nd partner comes on board there would obviously have to be some changes to the JV. Conroy would end up with a smaller share no doubt but if it's a big partner that wants to move quickly it would be worth it. All depends on the intentions of Demir. They haven't done any serious drilling in 2 years.
Fairview, it was one thing to gazump AAZ, but Demir have a cast iron JV, €5M skin in the game with the same to come and very good lawyers I'm sure. Any new JV is coming out of Conroys 60% so leaving shareholders with maybe 20% of the project?
We're either going to stage two with Demir or another partner. My preference is to bring in a new JV partner and start delivering on the huge potential.
There really isn't.
And they are the ones banking the big salaries and looking after friends and family - they are not the idiots.
There's billions of euros of gold in the ground waiting to be mined if only the idiots would get on with it. Complete contempt for shareholders.
CGNR's market value of £5.5 mil and 60% interest equates to an €11 mil valuation for the project.
DS, to be fair, if CGNR now only has a 60% interest, then their €11M value reflects a project value of €18M, only 25% down on the original value.
One of the posters here is hoping for a new JV partner. How's that going to happen? That would require Demir to exit which is entirely possible as this has been an expensive venture so far for them. €5 million spent and very little progress to show for it. But their exit would be a disaster for CGNR shareholders. So more likely they would renegotiate the terms.
The Demir earn in of €10 mil for 40% valued the project at €25 mil. On the basis of CGNR market value the project is now valued at only €11 mil. So no new partner is going to buy out Demir or earn in at the higher valuation. Demir will need to keep going with it or accept a significant haircut.
It's just lack of news. There's no negative comment about prospects, just the fact that they can't or don't want to communicate.
Who is to blame though? It can't be cgnr that want to waste time. What are Demir playing at?
They'll have to say something soon. They can't continue with silence much longer.