Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Selene is fully covered through JV partner, However, DELT needs to arrange funds for Pensacola.
Assume the drill cost on success case is $47m (similar to Selene cost), then DELT needs to arrange their 30% cost ($14m or GBP 11.5m). In case, DELT further farm out 15% to new partner, and in that case, DELT needs to cover their 15% cost of $7m = GBP 7m; unless new partner cover DELT cost.
Anything can happen … wait game now
Small stuff so wouldn't say anyone is loading up. Could also mean there's a raise coming and they're boosting the sp. Who knows. Small stuff at the moment. Having pick up another 50k shares at 30p I'm almost at breakeven.
Very good prospects here. Not sure when the market is going to wake up, but reckon it will be when we ink this last deal. Hopefully one that has limited % field ownership handed over.
Loading up
Has a deal been done I wonder?
Caesar, only the first drill is fully funded. See RNS. Deal being finalised for the second as we speak. Cash call not planned, but always possible until the deal is announced.
I expect news within the next 1-2 months max. (giving enough time to negotiate and prepare contracts). Pure guess, I have no inside info. Could be tomorrow!
If both drills are funded why are people suggesting that there is possibly a need for further cash?
Mooching, agreed news/ no news!
If you believe news will come + drills will happen, then I think it's ok to say it's a good opp to top up. No-one knows where the intermediate low will be, of course! The MM will make money in all scenarios, simple!!
Yes, typical AIM/small cap...
Good news : spike the price and then...
No news : just keep dropping the price until holders lose the will/netve to hole.
Then repeat.
Just keep holding until fundamental news lands, assuming you believe it's coming.
But please, everyone, stop with the 'good time to top' like it's some sort of idle threat against MM's, just boring.
Ridiculous big drop for so few shares sold. Aim at it as usual. Good chance to buy more.
GGG, time to hold your nerve...although it's entirely possible it will drop further until we have news. Past patterns have been similar. Thin volumes, impatient short term holders, several factors at play. Good chance to top up, although I doubt you can pick up large volumes at these levels!
I will be pretty happy with a 3-4 bagger from here.
I am all in, did my topping up in the low 20s; just waiting for the excitement to start this summer😀
Grain LNG are currently hold 20% of uk gas and are building a new tank as we speak to up it to 25% storage . And potentialy are building upto a futher 2 LNG storage tanks investing for the future possible gas fired powerstations
Even Labour could not be stupid enough to allow the Lights to go out, Mortuaries overflowing with hypothermic cases, to say nothing of the Trade Unions whose jobs would disappear.
Energy security is essential for any civilised society.
Https://www.bbc.co.uk/news/science-environment-68538951.amp
All over the news right time right market that is to stockmarket edge
Good news on the face of it, but I suspect will only be overturned after the next election, unless they bring back Boris, they have enough time if they are quick.
Got to be good news for us ( Deltic) and should give further impetus to the SP!!
got a feeling this could creep back down to £25m mcap (26p) level without news soon. bit of a bugger as my 100k holding average is 33p. will buy more if it continues to drop. bit of a no brainer this one. if penascola comes in at expected volumes on appraisal then we'll at least double, maybe triple. and if selene comes in at penascola size or bigger then it could be a 4-5 bag. malcy talking **** about 10x as usual. i'm not saying it's impossible, but it will require selene being the biggest nth sea find in the last couple of decades, and penascola being same or larger than estimated resources. i'll happily take a 2-3x. gla
@DrPatience, He1 is one of the worst examples I have come across,.. , worth a read for any AIM investors, the LTH got slaughtered... of course a different ball to DELT who has a proven track record when it comes to JV's
After their(he1) AGM there was no special resolution passed allowing the BOD to issue shares without a vote, but they got around that..
The following AGM approved approx 300m shares , about 1/3 in issue. But they trashed the share price announcing a fund raise more than 2 weeks in advance of its completion.. The share price fell continually over that time, they then managed to issue about 2.4bn shares at 72% discount..almost 8x that 300m..
Both instances they used a cash box placing...
But the upside created in the handling of that last raise resulted in massive x17 gain from the low for somebody ?
Thanks FD, yes that's super nasty for sure. Even if done at the going market price, I would still be very unhappy, as a matter of principle. The reality is (I am not saying this in the context of DELT) that small companies can be controlled/driven by large shareholders (in good or bad directions).
I do feel the DELT CEO is straight enough and also has vested, personal interests in pulling this off to serve all shareholders.
But GLA!
DP in general that is correct. Companyies will have resolutions agreed that allow fund raises within an approved criteria. However here and whilst still Cluff Natural Rseources, a raise was anounced subject to a post GM approval. The approval was a foregone conclusion as the major holders who were the subscribers. held the majority vote.
I am not against a fund raise providing it is done in a fair and transparent way. The raise I refered, was not transparent.
London in the process of killing itself...
https://www.telegraph.co.uk/business/2024/03/05/currys-investor-hits-out-absurd-london-stock-exchange/
Dai2belts, most companies have resolutions in place, typically agreed at the AGM, to give directors the flexibility to act fast in the interest of the company. So do we, Not sure about He1, I am not following, but I strongly suspect they did exactly that. You would need to check their AGM/meetings. For DELT, I cannot see a fundraise happen as this would require a raise of 50% of the market cap. It has also been said multiple times in presentations and other docs that a fund raise is not planned. The plan is monetisation/farm down. I would prefer a fund raise, but very few here agree with me.
D85, very fair comment and I feel sorry for those who had to hold for so long. Firstly, exploration is a long game. Secondly, there is a very good chance 2024 is going to be a game changer in terms of the sp. We may need to wait one more year to really see the outcomes of the drilss fully reflected in the sp. I am not certainly not selling anything at this level.
RNS 5 December: "The NSTA has ruled against an extension to P2567, and this licence was subsequently relinquished on 30 November 2023. The Company may consider reapplying for this licence in the next UK licensing round and, with the benefit of the extensive technical work carried out over the last couple of years, the Company should be well placed to be re-awarded this licence. "
So very much still of interest, but in fairness, all attention is no doubt on the 2 main prospects to be drilled this year.
Did DELTIC re-apply for P2567/Cadence - paired with P2428/Cupertino had p50 GIIP 2.6TCF.
Had $10m of technical work completed by Capricorn, who seem to have lost interest.
Did Deltic also lose interest?