Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Tygra, don't worry about Gonerby, s/he is probably down in the dumps having watched his team mess up their CL hopes to their biggest rival.
Gooner19
I've never 'whined', I point out what I see and when the facts change I change my opinion. I do not put my fingers in my ears and sign a declaration that under no circumstances must I express disappointment with a BoD who have yet to deliver anything they have stated. This is a public forum for an exchange of views therefore I will post whatever and whenever I please.
Your childish remark adds nothing to the discussion about EUA and it is your choice whether to read my posts or ignore them. I read constant drivel on this board and other boards but I do not respond unless I have something to add when certain posters put information forward that can be refuted by quoting RNS releases. The tit for tat bickering is nauseating and was one of the main reasons I binned my previous account.
With all of the above in mind, I shall filter you as I have yet to see any post from you with any substance.
Goodbye
Tygra: You did promise to stop your constant whining! Please do. Cheers.
LB
Agreed, not clear at all but the fact they put out an actual figure is at least something to work from. I choose to view that 186.4 moz figure as the minimum we have for sales purposes. I expect it is more in reality but as you say, it is unnecessarily ambiguous and should be structured in a more coherent manner so we all know what we have and in what net percentages.
Still low volume so I suppose the next RNS we see will be the standard AGM notification RNS.
All the best
Lovely boy that is very lovely lol.
So a very Conservative offer of £3billion ( which i ss as mimum offer ) can easily see a return of £1.05
Afternoon all.
@Tygra 12:10.
Personally I think the RNS you linked is ambiguous and I have emailed the co for clarification. It's not 100% crystal clear IMO.
BUT!!!! an encouraging figure all the same and sits perfectly well with me.
On one hand it states 'the reserves and resources breakdown by metals for the Monchetundra Project (Loipishnune and West Nittis deposits), the NKT area, and the projects included in the agreement with Rosgeo'
Not going to C+P the whole RNS for analysis but if you read further down, below the table, it 'implies' that the 186moz only includes NKT and Nyud. Repeat.... it's not 100% clear.
As far as I know only Nyud and maybe Poaz have been applied for; and N-K-T is not Rosgeo, so there is the possibility that additional reserves may be added. I say Poaz because it appears highlighted on maps in WAI's last CPR. Page 11 I believe.
So factor in the phrase....
'The table does not include new applications made by the Company that will be announced when the reserves and resources estimation is compiled.'
Add the CPR update due on N-K-T. Then deduct a potential 75% JV earn out on some of it and it's all a bit open to interpretation.
For a low ball NPV estimate on Monchegorsk assets only, and if you play safe and assume ALL reserves are subject to the 75% deduction....
186.4moz (min) * 0.75 = 140moz Pt equiv.
Historical spot Pt price hovers around £750/oz (source https://www.kitco.com/charts/liveplatinum.html)
In situ value = 108.5bn
Round it to £100Bn (makes the maths easy)
Each percentage discount over NPV = £1bn (35p/share assuming 2,854m shares in issue)
80% divi ratio gives 28p per share.
Of course there is the option of JV buyout to get 100%. Won't bore with the maths but this changes it to 39p/share but this comes at a cost.
For reference to a similar disposal, Kinross Udinsk deal was around 5% NPV discount but staged over several years.
https://www.kinross.com/news-and-investors/news-releases/press-release-details/2022/Kinross-announces-sale-of-Russian-assets/default.aspx
AIMO - DYOR - risk attached
ATB LB
You're welcome mate.
I personally believe $3 billion doesn't even get MT let alone the entire cake. We are selling for a premium not a discount in my opinion. There are no other companies with such a diverse metals basket in majority open pit licence areas with the potential life of the individual mines spanning generations not merely years. Costs are extremely low and profits extremely high. As other mines in South Africa and elsewhere become uneconomical, EUA's value becomes apparent.
$10 billion for all of EUA was my first guess over a year ago, I'm sticking with it until it's proved otherwise.
All the best
There will be no news till Russia in the war against Ukraine and it’s look like it will take long time to be sorted.
Bcz evil minds r behind this and they just using Ukraine as a war tool. And people like me we bought this share in high twenties they have to suffer for a long time.
This is very harsh truth
Thanks Tygra for the detailed response.
Love this board.
All the best to all of us.
For me if there is 180moz in the ground, and we sold for 75p or c3B then that is a massive discount. Appreciate there are certain geo political factors going on. Would it be best to wait, and again I appreciate we have all been waiting, some a lot longer than others.
I’ll keep the faith, GLA.
TC101
That's a very conservative guess as to the true value of what is contained within the current EUA licences. Please see this excerpt from the most recent Reserves RNS:
'The total of reserves and resources in the table above is 184.6Moz of Platinum equivalent'. So, many $billions of in-ground value considering the industry low extraction costs.
That table does not include some of the PGMs that are still unaccounted for due to security classifications from the Russian state. We were supposed to be updated on reserves and additional JORCs 'shortly' many months ago, therefore we can only surmise that there's more ounces to be added to what we currently know (my opinion).
In addition to the above, EUA seem to have applied for as yet unknown licence areas, probably via auction, and we are still to be informed of the outcome. This was highlighted recently by CAW & LB (IIRC) who listed an auction south of one of our licence areas that could possibly be one we have applied for. We know EUA are actively in the market for new acreage as per this excerpt below:
'The table does not include NEW* applications made by the Company that will be announced when the reserves and resources estimation is compiled.'
Hang on, here's the link to the full RNS, I'm sure you've read it but it does no harm to tread old ground now and then. It helps keep me sane when the disconnect between what we have and how we are priced causes pain in my brain due to the sheer lack of basic logic:
https://www.lse.co.uk/rns/EUA/reserves-and-resources-update-yo5o2qemf1ltax1.html
In the words of Dr Spock, "Captain, I've assessed all available data and concluded that the market capitalisation of EUA is illogical".
All the best
* Caps mine
Who owns it though?
Lovely figure.
Nope you've not mis-read - RNS on 8th Feb 2022 with the resource update:
"***** The total of reserves and resources in the table above is 184.6Moz of Platinum equivalent"
Anyone know the potential size of the prize in the ground? I read 180B but I probably had a few and misread it