Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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fund to fund
£63,000 dumped or bed and ISA?
With wet coal too wet to process and the Company only committing to supply 2,000 tonnes per month from June 2023, thus payment likely in July, you'd be a brave individual to buy right now.
There's a possibility Edenville won't even have a mining licence in July!!!!!!!!!!!!
Oliver Stansfield has agreed to subscribe for, in aggregate, 367,584 Placing Shares representing a cash subscription of £25,730.88. Oliver Stansfield currently holds 1,132,416 Ordinary Shares, representing 5.2% of the Company's issued share capital and following Admission will hold 1,500,000 Ordinary Shares, representing 5.5% of the Company's issued share capital. However, in the 12 months prior to the Placing, Oliver Stansfield, alongside his former employer, Brandon Hill Capital, collectively held over 10% of the Company's current issued share capital. Accordingly, under AIM Rule 13 he and Brandon Hill Capital are still deemed to be a related party by virtue of the combined holding.
Just read the last update on the placing from Dec its all there
Going to be in the 4.xp soon, with no positive news on the horizon.
We should be talking about 2,000, 3,000 or 4,000 tonnes a month, but we are now talking what Edenville have to do to hold on to their licence!!! It is truly awful. Under whose watch did this happen "historically failed to perform certain tasks required under its licence" Rufus? Alistair? Who was it that took the money and failed to perform the required tasks? Whoever it was are they now sat there reading the RNS laughing at the money they took and the failures they made?
They have prepared us for no progress on coal output by stating "which could be for several more months."
Back on the 6th December they stated about the placing
"In light of these developments the Company has undertaken a placing to raise gross proceeds of £400,000 to provide additional working capital, to settle outstanding creditors and provide sufficient funds to meet any unexpected adverse judgement as a result of the aforementioned legal claims. The Board believes this placing is sufficient to ensure the Company becomes cash flow positive from operations in the coming months, subject to being able to operate during rainy season. Details of the placing are outlined below."
"subject to being able to operate during rainy season." well they are not, so I doubt they are cash flow positive when they state "For the period from 1 January 2023 to 27 March 2023 the Company has sold 948 tonnes of washed coal generating revenue of approximately £34,500."
So when is the next placing to further dilute and at what price 3p?
Someone needs to get a grip of this company!!
So why isn't it shown here.....
https://edenville-energy.com/share-structure/
Oliver stansfield owns over 5% and if you look at the last placing in December it shows he is the broker to the company
The major shareholders list on the AIM Rule 26 part of our website suggests all are nominee holding accounts. They probably have next to no commercial exposure and it's predominantly on behalf of PIs.
And there's interesting discrepancies between our RNS of 6 Dec 2022 and the Shareholder list on the website. I've also found it quite difficult to reconcile our actual numbers with the annual CS01 filed at Companies House (last one in November) which has a list of all shareholders in section D2.
It's why I always take the talk of major shareholders in AIM Shares with a pinch of salt, because it can be very misleading.
Yesterday's RNS was really poor - look how the market has reacted.
No progress - none - and if anything we seem to be going backwards. It is truly shocking.
Talk of a second washer is pie in the sky - why do we need it until we get to 10,000t per month? Why has the BoD suddenly dropped the bombshell about anomalies between our operations and the requisite requirements in the licence?
Or are they simply warming us up for another placing......
I've been here a very long time, since the start. Yes, I may have sold out a few times and bought back in, but I've been part of that whole journey.
And at the moment it stinks.
Same here Esquimo
BB agreed. I have April / May for buying back those that I've traded and gained elsewhere. Just keeping an eye on the price at the mo.GLA.
The broker behind this wont allow it to go under imoh hes one of the main holders
It's a far cry from Zak Mir's 90p that he predicted.
I would like to know what this exciting new coal opportunity is?
It would seem that the current management are spending their efforts sorting out the mess that they have taken over.
No major selling, looking for a second washer and looking at further expansion of their coal business, as poor as the SP is, it doesn't sound like they are going to go under.
Well until you see one of the main holders exiting I def wont be selling as they say its not over until the fat lady sings and she isnt yet!
Said it before, say it again, I'm a realist. If it's good I'll sing from the rafters, if it's s h i t, and it is s h i t, I'll say it as so.
Edenville have pretty much been told to get their mining house in order or there's a chance the mining licence will be revoked. Not good.
full of good news saus
Leave it a few weeks and it will be tuppence!!!
I'm not going to say I told you so, but................... (5.75p)
I wouldn’t pay tuppence for this **** show !
6.375p
I've seen Aussie Gold Hunters where the soil they are putting in is too wet for the machinery before the soil gets to the washer part, so they have to stop, the the programme cuts to Marnie swinging her gold detector!!!!!!!!!
The mining licence, should get fixed.
Several months is more than the 2 months to June before increased production and income, so when do they expect a decent income?
No worries they have come across an exciting new coal opportunity !
Who was it that asked why would I say 6p a share, and I replied that's what I believe will happen? Well we sit at 6.625p with no guarantee Edenville can continue to mine it it can't afford to fix 'stuff'
And how much is this going to cost Edenville to fix? The £400,000 isn't going to last much longer!!!
Can only see a placing in April
The only thing Edenville is useful for now is as a tax loss against which profits from elsewhere can be written off lowering your tax burden.
A really, really poor RNS.
The second item about our mining licence concerns me - where has that massive risk just appeared from?