Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hopefully before your second wave, we may get news and the SP jumps.
@Shaa our trading day was much the same as any other recently: A few tens of thousands of shares trading at .29p as per usual.
Our case loads are climbing, but mercifully we are behind you in terms of a second wave + second lockdown. So our markets aren't yet spooked like yours.
This is all coming our way as well, sadly, but as of now our share prices have not yet taken the inevitable hit.
No worries CawCaw, I have been in COPL since Feb 2020 so don’t feel the LTH‘s pain, as long as that figure on the top right hand side moves a decimal pLace then I am a happy boy.
How is Canada doing after this mornings news?
We were clearly in a deal way beyond our means to begin with here with OPL 226. COPL should keep costs down, figure out how it will raise the $6 million to buy our extra 10% interest, if the wells prove out, and then build up some cash before committing to something again. I would hate to see COPL committing us to another massive deal that we cannot afford to do, before long term shareholders can be rewarded for our patience on a rerate with OPL being drilled and proven out. Lets do that first before anything else.
@shaa I appreciate and respect your opinion, but will disagree.
LTH's know that COPL was killed as of Christmas last year. The cash burn brought it to zero. It was and is a failed company -- due to spending all its' time and money pursuing a single hail mary opportunity that didn't work out before the accounts went to zero.
Art then made a faustian bargain with high-interest lenders -- notably including himself.
This was at PI's expense: A bargain which would prevent our investment going to zero by subverting "death by Essar".
It was extremely painful to us, but just enough to push it over the line.
And worth it, considering that the alternative was a total loss.
To receive this charity, then use it go shopping for other oil plays would be asinine to infinity IMO.
Not unlike spending ones' Benefits cheque on liquor and lottery.
Yes, technically you can spend Benefits on whatever you like. But the point of benefits is to get you back on your feet and become self-supporting and productive.
Art should show humility to the LTH's who have supported him and bailed him out, and paid extra so he could see through his hail mary that burned tens of millions and effectively killed the company.
No other expenses should be incurred and no other risky adventures embarked upon until he is doing it with free cash flow.
Agree shaa, the possibilty of the license of not being granted is there on the table, but for anyone on sidelines to stay out till this psa gets granted, i said a month back that the psc could take time expecially ly with nigera and the pandemic but got slated as a deramper plus jay12 jumped on the band wagon, i was here since the 1.7p days and ppl like jay12 kept relaying messages from cathy and art that news was round the corner and we held on on avereaged down, but look at the mess now and i rrally hope newbies dont get stuck in this unless things actually start to happen rather then arts undelivered promises year after year
To be fair CawCaw, Art might think it makes sense from a business viewpoint, at present we have all our eggs in one basket.
What if the license isn’t extended? or the oil down there isn’t commercially viable?
There are no certainties in life.
My mind can't even process the possibility that Art has been out spending money on other dalliances.
We are the ones who have suffered the dilution: Dilution to keep the company alive, dilution to thwart Essar's attempt to murder us with process.
That dilution has come out of our personal accounts.
If Art saw the (small) cash pile that it produced -- a cash pile that was designed to be just enough to see us through to revenue which would allow us to dig our way out from under our new and very expensive debt -- and went shopping for other properties, I will be so mad that I might dump my small holding and bid Art adieu.
It would not surprise me if others in the market respond in a similar fashion.
At very least, I would hope that Art would keep any such adventures to himself until *after* we have very good and sustained news about OPL226.
As much as he would be allowed to, anyway.
Agree CawCaw, Bob.
Pressure is on all parties to get this extended real quick, I am astounded it hasn’t already been sorted given what’s at stake.
Don’t rule out a little surprise before PSC is announced as baserite as indicated, my guess Mozambique, marginals or something nobody has thought of.
All in all a good day, considering at one point when we were 16% down and 3 MM’s sitting on 0.20p on the BID, this could have gone below that figure easily.
A win, win day, MM’s got more cheap shares and the LTH got an opportunity to top up.
Now let’s get out of the 0.20s for good and onwards and upwards.
Early October is my best estimate. The pressure to resolve this asap is becoming intense.
The individuals who stumped up several million are no doubt getting very restless
1p in October or November is my guess. PSC is the re-rate event.
It's happy to trade in the 30's and even 40's *without* the PSC.
With the PSC news (Art are you listening?) will come a drill timeline. And a hockey sock full of excited people.
The share price action should be no different from Art's adventures in Liberia: Once all major uncertainties are removed, (last one in this case = PSC,) the market sees it as "getting in on the ground floor" of this "sure thing" and pile on.
Heck, these are the days when bankers will throw 8 billion at a company that has zero earnings, just because they saw the word "blockchain" on a Powerpoint.
You have to figure that we will be valued above a few million when we are sending a REAL DRILL SHIP to drill for a BILLION BARRELS OF REAL OIL.
extension = re-rate = PSC = multibag
That's what I think but DYOR.
Then loaaaaaad. They want this baby cheap. 1p end of April 2021 calling it!