Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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MO "My question is why 9 m + another 9m in Q2 2022"
TechMet's investment into Cornish Lithium (NOT CUSN) will occur in two tranches: The first tranche of £9 million will be invested upon receipt of shareholder approval and the second tranche of £9 million will be invested, at the option of TechMet, following the delivery of the Scoping Study for the Trelavour Hard Rock Project (“Trelavour Project”), which is on track for completion in Q2 2022.
TechMet clearly want to see the result of the scoping study at Trelavour before they put in the second £9m tranche. If invested this comes at a higher price per share.
Cornish Lithium has recently stated that it hoped to float in Q2 2022. That time was chosen as it would be after a number of uncertainties had been cleared up. Those were
1. the publication of the maiden resource statement incorporating both Trelavour and UD.This was expected in Nov 21, so is a bit behind schedule.
2. the results from the pilot plant - i.e. analysis of the water extracted from the 2? km borehole at UD. The water is out, so the pilot plant has to be built to analyse it. At the AGM these analysis results were expected in Q1 2022.
3. The results from the Geocubed JV. i.e. how the 5km deep project had fared. We already know the Lithium percentage (Around 260 ppm) so I guess it is about how the energy created from hot brine has been used and what the project economics look like.
4. Results from the JV with Imerys.
Cl mentioned there were other metals in the brine at UD, but Cu and Sn were not among them.
Told you TechMet is a 2 level jump up in grade of quality. The shorter didn't bank on a company being 20% backed by the US Gov coming in and investing.
My question is why 9 m + another 9m in Q2 2022.
My guess is this is when CL go to market , after the 2nd tranche. Shareholders hopefully get cheaper shares per ratio of holding, probable funding raise around then , sp drop then the M&A will really come to light with a partly funded operation from the listing and results confirming CL's volumes.
Samples take around 1-2 months to process, then the model will be looked at for more testing if needed or next step to pilot and/or demo plant. So with TechMet getting in now they have 6 months to get things in to place using KMX knowledge and Li-Cycle expertise. Tighten up the brine processing and then a more solid base for Q3 onwards.
This mades it much more tidy , listed , funded and then M&A look at the package in the whole. Just my gut view based on how VW looked at Cinovec. Politics stopped investment. Czech change of gov now ? So eatch this space in VW and European lithium supplies.
Ford are linked in with one of the people around the US. That is also very interesting and put a warm glow under my new thoughts on all the activity.
Someone for sure will be in for supply sooner rather than later. Cinovec in 2018 had VW & Asian tin offtake with the mine not even started. Piedmont Lithium have 33% Tesla investment and not even a DFS on the project ? The buy guys WANT lithium & tin now !!!
Major morning ,yes i noticed that 11 trade this morning ,vii made a point that it's possible shoters were caught short yesterday that maybe the case again today someone building a position I think and have been for a while ,they thought that some very exicting news maybe coming does excite me ,hope its before xmas a nice present for us all
Interesting that the short positions are posted on the 15th and the last day of the month. The action yesterday was on the first day of the month. If someone wanted to close their short position over a period of time without it being too noticeable ( who wants to let everyone know they are a big buyer in the market) then the day to start buying back would be the first of the month as it would give another 14 days before the closing of the short position became apparent. We may find out on the 15th.
We still come back to the question, why anyone trying to close a short position in CUSN would do it in such a hurry and pay up to 44 cents a share to do so. That just gives rise to the idea that someone knows something very positive is about to happen, having previously thought the shares would decline.
My guess is that a shorter was counting on CUSN's need to raise funding for dewatering as being an event likely to trigger a price fall - ( have to offer shares at a discount to get them sold). Perhaps when Techmet appeared on the scene and funded Cornish Lithium, the prospect of royalties arriving and a jump in the value of CUSN's holding in CL, undermined the shorters argument and he/she decided to close the position. But why the hurry?
Bubble 11 traded 8.20-30am. you posted about 11 on tues and canada bounced that night then yesterday canada went like it did. Intersting ?
Good bubbles tick. Should go up tomorrow towards 18.8p -19p again. May be you are right and the other poster said weds is popular ?
Up 6.67% on tsx can't see any Major
32c now and 100,000 just added on volume ... ;-)
34c-35c finish ?
Bubbles any large shorts still open ?
11 trade hmmm
Nat that's a good point
CUSN is also listed on Trading 212 which is the "commission free" broker.
Small trades are likely to be purchases through that for those whom have a mini dabble as there isn't a a cost per transaction (Only a terrible spread).