Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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CH - I don't think you should be posting on these boards due to (a) being a potential insider and (b) having a huge axe to grind in this industry given your directorship of a failing (presumably) poorly managed RP. On this basis I will report your post and let LSE decide whether your continued contributions are appropriate.
Thank you ConcernedHolder.
I suggest you stop paying the lease payments, seriously, what are they going to do. That way, it will need to be disclosed and therefore they will need to deal with it. The Regulator of social housing will not like it but I can't see Civitas kicking people out of their homes or taking any RP to court (neither will TP). They will force a solution.
I am going to take this question to the company directly as they state, anyone can contact them.
My family is in the care sector and I know that shared are still used by local authorities as not all individuals can go directly into their own apartment (excuse me but I don't know all the details and that is just one point raised).
Interesting comment on Civitas trying to sell the Investment Manager
Hi ConcernedHolder. Thanks for finally being upfront about your motives. I have no gripe with you stating the comments below but I feel some of them were very inaccurate and misleading and some are enlightening. In doing my extensive research since this has come up, there were historical issues with developers and I believe the issues are the level of rents and the suitability of the properties. This was a relatively new sector in its early stages and although I do not condone the practices, the funds have gotten smarter and more understanding and we should remember that these individuals would not all have homes if not for the private sector. Having read the Regulatory Notices from the Regulator of Social Housing, I believe that they do not like the lease model but again have acknowledged that many of these homes would not have existed without private sector funding. And it is not like a smaller housing associations can easily raise funding when you read the various articles and research reports.
Private sector needs to make money so that our economic growth continues - its one of the fundamental aspects of capitalism and free markets. I do not agree that conflicts of interest are all bad (and in many instances are good) but they just need to be managed. The housing benefit payments are for the tenants to cover their rents and if they moved to another home (not associated with Civitas or any other stakeholder), the rent still needs to be paid to a private landlord as there is a shortage.
The developer you mentioned, seems to have been part of the sector that caused issues but there are always bad apples. Its sad but the RP you mentioned still provides homes. You mentioned they are all shared homes - so? Those that are not fit for purpose should be renegotiated with the landlords like Civitas and others. It seems to me the RPs hold the strength in the relationship looking at it as an investor in Civitas. Like any portfolio, there will be defaults and not operating assets and if the RP just stops paying the rent, its not like Civitas can take them to court and destroy their trading partners.
If you want to fix the system - get your RP to try that approach and then let's see if Civitas make the announcement. then we will all know if there is a "cover up"?
'but please don't do it under the guise of helping societies most vulnerable.' I don't - I'm here for the 5% dividend which is about 10 x higher than the banks.
Oh dear , someone with a personal vendetta against the company. There are always people not happy with every single company on the FTSE - its called capitalism. Companies generally make their money at someone's expense, be it supermarkets ripping off farmers, clothing companies exploiting cheap labour, tobacco companies killing people, miners poisoning people. The world turns a blind eye to all of this in the desire to grow and make money. Wake up old pal. Sit back and take the dividend. You'll come to realise that nobody cares about your gripe, haha
'The Board and Civitas Investment Management continue to have great confidence in the Company's assets, revenues, business model and strategy. Moreover, the Company continues to perform robustly. " That will do for me, lol
Haha, keep the pathetic deramps coming - the price continues to rise after every one of them :-)
Wow CH, you're now defending your position based on syntax? LOL.
And the funds they are using are based on properly contracted rental income for the provision of homes for the vulnerable. Or are you suggesting we shouldn't be using taxpayers money for this?
Great tactics - I can hear those shorts frying now, haha
Latest holding RNS shows that whilst BR had opened a short position, they also had a long position over 5% so they were still net long. On Friday they took this below 5%, but also took the short below 0.5%. What we haven't see yet is who bought the 20m shares at £1 at the close on Friday, unless it was placed with multiple investors. However, it seems unlikely that they would have been able to place it at a premium to the price at that time.
A nice rebuttal from CSH today and good to see it backed up by a share buy back.
"The Board notes the recent decline in the Company's share price, which it believes is associated with activity from an activist short seller as well as recent press coverage, the content of which it believes to be baseless, incorrect and/or misleading. The Company has spent the last week engaging with major shareholders to discuss the recent activity and remains available to shareholders that wish to engage further. The Board and Civitas Investment Management continue to have great confidence in the Company's assets, revenues, business model and strategy. Moreover, the Company continues to perform robustly. "