Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Quepensa - imv the problem lies in CLNR's management. GS doesn't care about anything or anyone except himself. Turning the company into a joke by issuing 800m shares to the 550m already in existence, when CLNR's price was 10% of what CLNR's own brokers had said it was worth just a month before, making only a token contribution to the placing, then following it up with 20m soft options to him and his pal Nunn, told everyone anything they needed to know about the bloke.
That's everything except the fact he told us goodness knows how many times how keen Shell were to farm in, yet failed to do the most important thing of all, which was to negotiate a free carry on the fist exploration drills on both licences Shell was interested in.
Before any of this happened, he should have been savvy enough to get CLNR's shares out of the territory penny share traders love to get involved at. A 1 for 10 share consolidation would have done the job - get the price to a decent level and make the shares a bit less easy to trade. It would have encouraged longer term investors and eventually probably resulted in them being more tightly held.
Why raise all the money for two drills and enough working capital for 3 years, when he's already told us P2437 is being drilled first and there's every chance (Shell seems to think so too) that the exploration drill, probably early next year, has a very good chance of success.
I'll tell you the answer. Because he wants his salary and position as new king of CLNR (in his mind - he'll never be a king of anything unless it has "wet behind the ears and greedy with it" in the title) guaranteed for the next 3 years regardless. Wait until you see the bonuses the two new top mongrels shyly take this year for their great success so far. Remind me what this is and how shareholders have benefited.
If Shell has any sense it will make all future announcements about the licences they're involved with because their professionals are probably embarrassed about CLNR's performance since the tie-up was announced. They'll know by now that no-one is likely to believe whatever the present lot in CLNR write. Whatever it is will probably send the price even lower.
Algy did everyone a great disservice leaving them in the present hands.
Other than as above I'm very happy with my holding here. It isn't worth selling.
all imo/dyor
When will it be this SP will gain some momentum and moreover hold any gains made. Is She’ll not a big enough name in the sector these days. . .
Confused!
I was fortunate to put 2/3rds of the proceeds of sale of the 3m CLNR I sold recently into JOG and the other 1/3rd into SQZ. I had significant (to me) existing holdings already and have done extremely well in both. Both are companies with very skilled and committed senior management, who are people of integrity.
The comparisons with what's on offer here could not be more stark. Swindells has produced nothing of value so far to shareholders but has seen himself and the other exec director ok for the next 3 years at least. Wait 'til you see the y/e bonuses. What for?
I am still extremely disappointed at Algy leaving loyal shareholders in the hands of people who imv are not of the right calibre. The pitiful plastic lawn that so changed someone's life says it all.
Wish I'd sold the lot now. The MMs wouldn't take a 500k sell order this morning when there was an opportunity to add on a dip elsewhere. What does that tell you?
all imo/dyor
This share seems to be in limbo with nothing doing apart from a few small sells. JOG on the other hand has gone through the roof. Lets hope we can do the same some time eh?