Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I’m here...I posted earlier !
Apparently Boom has been out of service for the last week - due to return... he/she could have got in at the low point and made 20% + already... they will never learn :-)
Where is boom and Ltd now that there is good news and rising sp.?
Spary1, odd one that 5M buy reversal - on ADVFN it's replaced by another buy at the same time at 0.295 but that isn't showing up on the LSE feed at the moment...
Thanks Timmit
I took too long to post my last post so thanks for the reply.
It should be noted that as FG has bought the Sipiem legal claim along with a credit due of €238,000 for only €85,000 and as the claim is for €10.8 million and we would be due 70% or €7,560,000 add in the credit of €238,000 and we could get about €7,798,000.None of this will be on our balance sheet at present but at year end FG will have to record something and I know what e should be putting in.
RKB
PS Lawyers are on a small success fee for this €10.8 million claim which is against certain known individuals who have public liability insurance and from my extensive research into this they have to settle early as that what insurance companies do.
Wow 5 million buy !!!!!
Good Morning Knigel
It is not straight forward with the Trade Receivables.
We do know from the Full year accounts that included in the figure of €7,003,000 there was a note to say that €4,440,000 is due from Sipiem. But in our Interims today we have a figure of €6,631,000.
I have been in communication several times this morning with Christian and I do not want to become a pest, so I have asked Timmit if he could comment on your question.
Having a buyer of 5 million is a good start for the day, pity they delayed the trade but then we are all used to that now on AIM.
I am talking to Brokers as I think I found out something which if I am correct I will flag up.
RKB
PS for the record our Public Relations Company Leander, Christian Taylor-Wilkinson is very approachable and is always happy to answer your questions.
Apologies, you are correct - sometimes you do need to read a RNS a few times to get it :-) plus the Euro 238,000 credit .. to be fair, less than Euro 4.4 million will hit the NAV so it works both ways gl
That’s correct KNIGELK. The claim for 10.8M is NOT in the accounts. For one thing until CLP 2017 bought the debt it wasn’t owing to Clear Leisure but to Sipiem, a subsidiary company. The same goes with the 238k credit due to Sipiem that CLP 2017 bought.
We would be only get 70% Nigel but would still be a very positive outcome .
RKB - thank you - also am I right that the trade and receivables figure only has in the accounts €4.44 million for the Sipiem claim and not the post interim accounts event of 100% of the euro 10.8 million claim? So IF (and its a big if) the full amount is received it will make quite a difference to the NAV :-)
Interim Results
I was not expecting our Interims to be published today because three out of the last four years they have appeared on the last available day permitted (2017 they came out on the 18th)
There is not much that I can really say about these interims for the first half of 2019 but there are a few positives comparative to the previous years interims. (Figures below relate to first 6 months of 2019 and 2018 only)
Our Loss has been reduced by over €1.1 million to €477,000 which is a good step in the correct direction
Our Finance Charges have also been reduced by €38,000 to only €98,000. When you actually study our finance charges in greater detail and realise that is all we are paying for our debt, then you get the measure of what Francesco Gardin has achieved by only paying 2.5% on our debt to Eufingest.
Our debt (borrowings) stands at €6,322,000 and our Finance Charges are only €98,000 is truly amazing and I am not aware of any other AIM Company that has access to a financial benefactor at our rates of 2.5%.
We now have to look forward to late November for the cash to be handed over for the Land and a possible early settlement of the Sipiem legal claim of €10.8 million.
Our CEO Francesco Gardin re-empathises “We are now starting to witness some positive results with regards to monetising our historical assets, as well as seeing successes with our technology sector investments, which are proving their innovative potential.”
“The Board remains confident that by continuing with its well-founded strategies, its goal of returning meaningful value to shareholders will be achieved.”
In my opinion Clear Leisure has turned around and exiting times are within sight.
RKB
PS if you understand what FG has achieved by reducing debt substantially and ruthlessly pursuing our miss-appropriated assets you will understand that he is determined to achieve substantial asset recoveries which in my opinion are within sight.