Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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RR you said what have they been doing for 3 months. I really don’t know about contracts for ceos of aim listed miners in oz but....(and I’m not by my notes)
In the last interview I saw with Craig he mentions meeting with the board to decide the next steps...
Suppose he’d been approached by someone at this point but was in a fixed term contract with cobra. In the last 3 months perhaps he’s been in discussions about breaking a contract and the board have been looking for suitors. It seems that 6 months ( from memory) is a long time to give as a resignation period, mines 3 and they’ve invested substantial amounts in training. Perhaps the board have known of his ‘intention’ to leave and have been working behind the scenes to make it as seamless as possible.
Knowing Craig was going isn’t an ‘ok bye’ situation and the next day you carry on as Normal. They must have been working out logistics based on his departure.
I’m pretty certain the initial drilling agreement was for stage 1 drilling for 10,000m at a fixed cost for 33% paid in equity.
We only drilled 6,000m in stage 1 so I’d imagine we still have 4,000m left as part of the agreement.
Thereafter who knows what the cost/agreement is.
Jury is out on using pathfinder analysis. If it was so accurate then why were Baggy Green results so off!? 2 out of 3 had very positive drilling results so so far give them the benefit of the doubt.
We need a clear 2021 plan showing timescales going forward like we had for 2020. I’m stunned we’ve not had this already given we’re approaching mid April! I really thought we would have had the plan mid February and been drilling by now to keep momentum going to be honest but hey ho.
IOCG - exciting but one drill (no make that at least 10 deep drills to 500m minimum!) doesn’t make an IOCG deposit.
What’s the strategy for the IOCG targets and how the hell are they going to pay for it? How long before they actually drill the IOCG targets?
Too many unanswered questions. I’ve emailed asking for info and now all communication has stopped, why!?
Very frustrating!
I tend to agree more with your line of thinking Saint rather than with Christo but he/she does have some valid points.
I don’t believe it’s taken almost 3 months to analyse the drilling results, 5 months if you consider late November for the Clarke results given the actual amount of drilling involved.
What the hell have they been doing for 3 months!?
The latest news is we are finalising the next round of drilling with geo chem work starting next week once necessary approvals have been granted etc with a very sketchy plan for the year with very little detail of what’s being done and where and at what cost.
I’m excited by the IOCG targets but again we need more info and exactly what’s planned rather than just using the IOCG carrot to generate interest.
Methodical approach makes sense but it’s taking a lot longer than it should to be pushing this project forward!
ST, you got me, and I have to correct myself!
The COBRa will wake up in the following order:
1. New MD is appointed.
2. New drilling campaign is announced.
3. Placing before the drill bit starts turning.
Happy?
And I won't even tell you to buy Aviva, because I think you're useful addition to every bb you're in!
Your continuous efforts(ramping?)to protect your investments in every share you're in are well appreciated by the shareholders of these companies bb's.
However, I think that even you wouldn't have called the highlight of the RNS from Christmas Eve-1 meter of 3.54gpt from 21 holes drilled (over 2000 meters drilled in total) significant gold intercepts!
The last RNS before Good Friday basically says that, instead of working on new JORC resource they haven't been doing much since November, and this will continue until new MD is appointed. Taking into account the level of activity in WA this is a daunting task. We have no data whatsoever on the cash burn, but we all know there are salaries and licences to be paid. Drilling is expensive, and they will have to raise. I'm not objecting it at all, it is the nature of the exploration business. I just disagree with Greg Han****'s statement that the current drop represent a buying opportunity. Nope, it isn't! I actually think this is another shameless statement, because he knows the cash burn rate which we don't. I hope that I'll be proved wrong, but with this lot- I doubt it very much. I don't mind volatility, I think it's great. I do mind PI's being treated as dirt with shameless disrespectful statements as above.
Cobra will wake up in the same way as ECR- with placing, I'm afraid. ECR kept silence for months before today's RNS, even in case that they had a lot more cash than our COBRa.
I watched it a few times ST .. very comforting .
Always good to have a refresh and look back over the info that brought you here in the first place..
Have a great weekend ... Looking forward to the coming weeks here.
Cobra is asleep in the sun waiting to strike at the most unexpected time :))
News next week please.....