Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Although visible Gold is a welcome to any exploration company out in the field, having no visible Gold is not necessarily a direct correlation to there being 0 Gold at all. Pretty confident and looking forward to the results to give us a scope of the Byron reef.
The recent RNS states as follows: "Five drill holes have been completed, and a sixth hole is in progress. ECR expects to be in a position to report assay results from INITIAL HOLES later this month. Visible gold has been noted in the hole first drilled at the Byron prospect (see announcement dated 12 February 2021)." Therefore, I don't know how many holes will be reported, potentially up to 5 but more likely to be less than that? In terms of the possibility of all holes being dusters, I don't think CB would be commenting on the first hole if that were the case. Not only would that be highly dubious, he would leave himself open to serious question and possibly misleading the market by making repeated reference to visible gold.
The logical inference for me is that he remains excited and is awaiting the results. All IMO but let's see!
The first 6 holes could be dusters you say ?? Lol . There was visible gold in the first hole and Craig specifically mentioned carrying on down as they had a continuation of quartz .He also wanted to release the results immediately. So how anyone can suggest that given the above facts the first 6 holes could be dusters is , in my view , beyond comprehension . I know we are all speculating until later this month but that scenario ( all things considered) is bordering on ludicrous, given the information we have seen and heard so far .
"Wow, a lot of discussion last night...I thought it was the weekend again."
Very true and since then nothing has changed, and even that is a fact that some will view as good and some will view as bad.
We live in an age where we all want everything now and where some cope better than others when they don't get what they want immediately. We need to step back and consider what we have a right to, what we'd merely like and perhaps most importantly what it is possible to provide.
I think we'd all like more detailed communication from the company regarding the placement, even if that is merely an acknowledgement from the CEO that he can't yet provide detailed reasons for why the placement was held now and at the price it was.
We can all speculate about what may be going on behind the scenes but without any facts it remains speculation. This prompts the question about what facts CB himself has access to, and what if anything he is legally permitted to comment upon at the moment. Again we don't know this so have ended up speculating about what we are speculating about.
If you trust CB's abilities and long term vision for ECR then you'll attribute positive reasons to the placement and current lack of communication. If you don't trust the CEO then I suppose you need to question if ECR is a company you wish to hold shares in; something a few here are seemingly doing. So whilst I am in the former camp having bought a few more shares on the dip I'll respect those in the later.
Things will become clearer in time and until they do we can only comment upon each others guesses.
Lock mine in too TS. Very well put
Wow, alot of discussion last night...I thought it was the weekend again.
Funding is to expand the drilling process so either another drill purchase or we are hiring another drill...no other way to accelerate a 24/7 drilling programme.
Could it be the no further funding required statement was based on cost projections with one drill only?
If we are getting a second drill is it likely that the first six holes were dusters and CB has suddenly become a gambler and wants to throw a second drill at it in the 'hope' we hit gold.
Or is it more likely that the results are good and CB with his experience knows that proving up a JORC quickly will massively increase shareholder value in the mid-long term and enable easier routes of financing moving forward when much larger sums are required if we take this towards production ourselves, or will give us a much stronger hand in any JV negotiations for Baillieston in the future (we know there have been recent approaches enquiring about Baillieston).
I don't know about you, but CB seems to me to be level headed and concerned with long term shareholder value and a company vision...not a gambler who ponders to short term traders.
GLA whatever your decisions here...my shares are staying firmly locked in.