Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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@ paulFG - agree with the comments about being an un inspirational tone - I think the thing that struck me most was that he seemed uncomfortable to be there, especially dealing wit the question about the placement...
Sure more money is good as is news the JV is still on the cards, but when asked why hold an extra placement the basic gist of his answer was that it would be difficult to stop it having already been put in motion - no particular explanation about why the second placement had been put in motion in the first place... i suspect the angry mob will remain angry about that.
He has confirmed that the JV is still on and with multiple parties interested. But it needs those licences resolved in order to secure the JV. He also stated that further drilling at Creswick will help secure a better JV.
So Jv basically waiting for licensing to get sorted, one of which has been resolved very recently. So it’s game on then & drilling in the the area in the meantime is more about strengthening the hand.
relistening to the interview I almost wished he had remained silent. He seems to have stumbled through it, and honestly his tone isn't very inspirational. The interviewer almost prompts him to come to positive conclusions.
It doesn't change any of the facts really but it won't inspire confidence, IMHO
his comment - the JV is certainly not dead - I would interpret that there will be no announcement soon - certainly clear from interview that they are going to have to drill more.
I am a little disappointed that they'll use contractors instead of buying another drill rig - but I guess funds will last longer this way
Happyhaddock - agreed. I don't think MOST of us doubt that the money has been raised for good and necessary reasons. I think learning of the reasons/thinking from CB will be a positive confirmation for us. The following are each and all positive reasons for me:
1) We didn't like the JV offer so are drilling ourselves;
2) JV partners need to see more results from Creswick before we can conclude a (better) deal;
3) Under any JV, we still need to pay for our share of the drilling at Creswick. This allows us to do that without compromising the plans at Baileston;
4) We need to undertake the Creswick drilling irrespective of the JV, in order to meet our licence conditions/renewal;
5) The extra money strengthens our case when it comes to licence applications. Which in turn helps with any JV.
If CB were to explain in any of the above terms, then it supports the 'secure the future of the company' comments you have made IMO.
It may not be a popular opinion, but simply for the sake of playing Devils' advocate I will point out that a CEO's role is to secure the future of a company. Business is a rough place where people are judged on results rather than how nice they are.
Exploration is a business that costs a lot of money where the challenges facing a CEO are to secure enough funding to keep a company active. I'm not saying CB has made a lot of friends with the way he has handled things recently but is that what we want from him? - No one can deny for a company of the modest size of ECR he has put a lot of cash in our bank account to keep us in the business of exploring?
Thanks Jtb - if the questions are asked and we get some clear answers from CB, I think the interview could be very valuable/helpful. Let's hope so...
I really don't expect much from the Stockbox interview. And I think the, almost, inevitable outcome will be a slight sell off - simply because cannot offer any new news only provide comfort on what is already out there.
I don't hang much on these YouTube type interviews - they all are pretty easy going and what I would describe as 'Hello' magazine lovely lovely types.
This interview represents an opportunity for CB to clear up a few key matters. How well he does this will determine the response to the interview. It's when things are not clear that subjectivity comes into play more. Previously, he has suggested that if there was no suitable JV offer, we might return to Creswick to drill more holes. That is now what we appear to be doing. Therefore, he can give us a 'yes or no' on whether we are still in those advanced JV talks, or whatever the explanation is. There are other areas where he could clear things up for us (as per the questions), but I think the JV is the most important one.
I understand that JTB but there are a lot on here that call CB a lying ****, a con man, wouldn't trust a word he says. I always give him the benefit of the doubt and the one real chance i gauge how opertions are running are these interviews and pod casts. He is afterall the CEO of the company, and although he can't give us anything that has to be released in an RNS, i do get a lot from it.
They have been drilling, the XRF analyser did find grades 15g/t+, they have bought a drill and its been non stop since the start of the year. I need to hear more now. Bailleston plans moving forward after HR3 and how exploration is being ramped up, as per the RNS.
Not crucial enough for me to sell up, but they definitely help and he needs to get the sentiment back. Once the interest grows, the share price grows and after all it's what we're all here for. Plenty looking at ECR from outside thinking "Wtf is happening". Grow the company, progress the projects and the sp will take turn of itself. Let's see how he gets us there
I've also added this morning. Hopefully we get a decent interview from CB, but ultimately, it's all about the results in the ground. Lots of drilling and results to come in the coming months, which will determine our fate and fortunes here more than anything else. Gold price is doing quite well at the moment as well. If that remains the case, then I think we are only one set of good results, or some other positive announcement, away from lift off again.
Very crucial.
Be interesting to see what additional info we get from the funding RNS. Exploration to be “ramped up”. We’ll soon find out.
License news
Any JV news he can give
Second drill
3 key areas for me. Hoping he delivers. It’s back to square 1 stuff for me almost. 4 months hard work hasn’t really amounted to the hype.
Good grades, but extremely narrow veins and widths. Enough evidence in those assays for another serious campaign at HR3 anytime soon ? NO CHANCE. They’re more expensive paper weights than anything else. 1m@4g/t isn’t a bad pull, but 150m down hole and nothing else, not viable for me.
The company haven’t been sitting around. They’ve been drilling behind the scenes and with current resources have been going as fast as possible. But the more I think about it, at its current pace it’s going to be a very slow ride for the investors in getting much back there. Interested to see what adjustments he will be making to exploration.
His legacy is how he used this £5.8m. How he now goes out and extracts value from the projects. Investors need to realise only 1,700m of drilling has been carried out at Creswick. Beyond that 1m@44g/t, the grades are really nothing to write home about.
https://www.lse.co.uk/rns/ECR/update-on-creswick-gold-project-victoria-australia-e5xxfcnhze1h8dg.html
Companies can usually spend years and a few campaigns proving up projects before the JV comes in. I’m surprised we have such serious offers, but we do and we need to capitalise. They just have to. Confidence slowly fading but my position is going nowhere (in my sipp anyway). Long term but I’m trying to be realistic as I can be lately, as and when the news comes in
£5.8m in the bank
Proven resources at Bailleston (which IMO they should have returned to first)
JV interest at Creswick (this is a must)
Let’s kick on CB and turn ECR into something very prospective.
Keep the faith :D
Crucial interview imo. A decent JV and some additional licences and this SP starts to look very cheap....
This morning with permission of the company
when is it out?
Interview done.