Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I know the below article relates to more PET and Tamraz, but thought it was worth posting as some here hold both Clon and PET.
The Irish Times Say 4 April
https://www.irishtimes.com/business/energy-and-resources/irish-oil-explorer-updates-shareholders-on-dispute-with-international-investor-1.4220017
.....and yesterday I stopped up a further 478256 shares to take my holding to 2,000,000 shares. Do you think they'll be able to work it so I can have a nice round number in the merged company.......
Apologies, cabin fever setting in ;-)
Would they wait for ratification before an RTO? And if so at what stage to production, because surely the value of Clon raises over and above Pet on ratification, and higher still at JV etc? , or is that too simplistic?
Morning Bridges
Thanks, something to discuss while we wait for the signing :)
Morning Bridges
Thanks, something to discuss while we wait for the signing :)
Hi Dutch
"How is a Company (CLON) with Mk Cap £5
going to takeover a
Company (PET with Mk Cap £13"
- by RTO
- majority is owned by same entities in both organisations
- it is conjecture on my part, while we wait...
Hi Dutch
"How is a Company (CLON) with Mk Cap £5
going to takeover a
Company (PET with Mk Cap £13"
- by RTO
- majority is owned by same entities in both organisations
- it is conjecture on my part, while we wait...
Probably defeats the objective so don't quote me on that.
I think it's possible by a merger and share allotment.
How is a Company (CLON) with Mk Cap £5
going to takeover a
Company (PET with Mk Cap £13
??
A lot of sense in those “ramblings” Robrob, good post! Clon takeover PET very possible now and would be a good solution to share-gate because they will never find those fwd sold shares. Almost too far fetched to believe what happened with PET. I think it’s sine die Tommorrow; hopefully when Ghana Parliament come back after Easter we will see progress on Tano 2A Ratification ;)
I agree imo they have been forward selling since 2p, there was a GBP 250k transaction at around 2p... think recently they became a little in the red. The RNS reads well albeit the NOMDAD transparent comments, sorry but it is embarrassingly obvious. To be honest there was no need for the NOMAD comments. The price is being driven by demand due to events unfolding. The insolvency bill is key as admitted under the RNS by the BOD. Today PET also released RNS and can draw a conclusion on an analysis of both that
Long crude position done well and is closed out but will look to re-enter in the coming days if my trade pans out. If not made a bunch of cash on this. Worth keeping close eye on Reuters and Bloomberg.
Message for NOMAD the other one has bells on it.
I like your logic Robrob. I'm sure all will become clear very soon.
Good piece Robrob - just to add, Tullow (up over 50% today) states that it's lowest cost oil is in Ghana at $9 a barrel, so even at a sale at $30 we would have say $20 a barrel of 120M Barrels (If we give TW 70% for a farm in on 1BB). So $20 x 120M = $2400M for our share and if the price of oil goes back up to say $50 a barrel well need I say more. I am not sure why, in this day and age of technology why CLON cannot do more in terms of discussion in March via phone/videocalls. Just imagine the BOOM sound if we get our original licence back or even the other licence - or both!!!
Is that the same strand who said naff all when the share price rose from 0.4 to 2p? And the same strand who didn't squeak when the share price fell from 2p to 0.4?
After just reading the pet RNs, I think you might be on to something rob..
:)
That is just Strand being Strand.
Robrob I think that sounds very feasible to me.
A bit of Friday thought sharing....
I think about how PET were portrayed as quite literally ' no hope ' with no progression, no talks and no partners last year... its been a hell of ride for them though!!
If you were a shareholder at circa 1p you'd still be way, way up.
Go back to the PET RNS last year and look at how non descript' the company was portrayed - seen in the financial report - and when SP was circa 1p - then from no where came news of a partnership with a new concert party and whoosh the PET SP went to circa 25p.
This 'partnership' must have been brewing for months... but there was zero public news flow.... now here we have similar, that on the cusp of news being days or weeks away for CLON that we see a speeding ticket RNS being issued. Same BoD, same approach.
I would not be surprised that PET is taken over by CLON. A single co being formed. If it did happen...
The shares in contention between chase / PET / Tamraz concert are nulled and values appropriated into a new Co. This resolves the 'share issue' at hand, the new partner Tamraz and existing holders form new co that is PET+CLON, brings with it Tamraz and funding for Ghana. The BoD Clon options survive.
This would explain that Tano 2a is the asset that was prior talked by concert party but not disclosed (as it does not yet exist fully) and this being a co-operative deal brokered by Pan Andean and Tamraz.
I'm sure you get the jist. It's a play on words that may have been issued to shareholders and why loose dates were only offered as it was reliant on decisions. These decisions were / have been delayed due to circumstance e.g. insolvency bill being delayed (was meant to be 2019) and more recently COVID.
This is why this RNS today talks about how Tamraz has 'helped' in recent discussions surrounding funding for the Pan Andean licence. He wont be doing it for free, it'll be to become part of this concert party and to assist in realising the 'asset'.
- Surely it does not take this long to deal with un authorised PET shares.
- CLON Tano is subject to funding...(they have funding it's Tamraz concert party) as per RNS
- They cannot announce anything at this time as the passed bill is not an act yet (anytime now)
- They need GNPC to advise parliament to proceed or a different action for the ratification to happen (soon)
- This is why BoD have options with CLON and not in PET
- This is why Tamraz still is endorsing PET on Netoil website as there is a bigger picture behind the scenes
- BoD do deals. It's what they do. They own Botswana Diamonds and partnerships is what they are good at doing.
- Also interesting to see that the Lithium Bolivia deal is still progressing but with interim gov now. This being the first update to that since Bolivia crisis / Government change.
Much of this is a 2+2 calculation of course, like to see what you will think as to what will happen between CLON, PET and Tamraz.
GLA - all conjecture and rambling
D
I was sure that the mms were short over the last few days, and now the nomad has issued a speeding ticket. I wonder why.