Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Any specific reasons for the last two cash raises coming from the shermans?
Read the available,lots,of information,make your own decision
I reckon it's because they originally thought the $20m raise was going to be enough. Then following all the due diligence etc by the various parties its been realised that the resource is much larger by not far off double, therefore, an additional $15m is needed to tie everything together and drop the curtain.
That's why it appears to be a bit of a last minute cash raise.
Not long to wait for the fireworks in my opinion.
The BOD have said that JORC resource figures for the Rosgeo JV will be released shortly.
Mac says they can't be released until we own them.
Do we own all 9 areas.
Are there license transfers underway for anything other than Nyud and Moroshkovoe.
Do Nyud and Moroshkovoe make up 1 or 2 of the 9 areas.
How long has it taken to get Nyud and Moroshkovoe to the point where the first 75% will be owned with the license transfer.
So Mac is saying the only JORC resource figures coming shortly are from Nyud and Moroshkovoe as the other areas aren't even in the process of having licenses transferred yet as the BOD haven't decided which ones they will take on yet so it will be some time before they are owned by EUA.
MrYFronts if they released the JORC saying the other areas had 120moz you would I guess be the first to say that EUA dont own it yet ! Am I right ?
Why can you only release JORC on what you own, is there a law against it.
So they can release the 105Moz calculated to Russian standard without owning it but not JORC.
Mike,
one reason as an example, say the jorc is being released with the deal map, eua 2 plan, licence transfer, 100% ownership on part of the JV, to comlete all that they woud need that extra cash now to cover everything and complete the asset sale deal
GLA
If you look at the EUA presentation from a year ago you will see on page 20 that they were already expecting to hit the 1.7Mtpa throughput in 2024. I've never seen any mention of anything other than 1.7Mtpa throughput with an expected yield of 130koz.
There is no detail on old RNS's about the feasibility study where 1Mtpa was talked about.
If you announce the sale and associated dividend and then dilute that would surely change the value of dividend per share as there would be more shares in issue? Would be a complicated way of doing it no?
You can only release a JORC on what you own, the JORC and asset license transfer walks hand in hand. To do both at the same time you have to have the required funds to pay for said license/s, hence the placing.
GLA
It's a simple case of raising the cash now, so that business can continue as usual regardless of what the s.p is.
Russian government (Rosgeo) don't want to deal with IOU's.
I think having the finance side is in place now will allow things to move a lot quicker for EUA re JV/ license etc. I think that keeps pressure on the bidders, EUA are one step ahead…
Simply, the II's who invested will get a better deal investing now against after JORC.
Gotta look after all the investors, letting a large investor in and allow them to make money very quickly is always an easy win for a company.
IMO GLA
@stevo i would imagine its the case with not wanting to upset the apple cart from previous fund raise or giving a ridiculous discount to the SP after the jorc.
We can only speculate but that's all this board has been since feb when we were suspended from trading. I don't necessarily have any feelings towards the BOD, my average is low enough that i'm happy with what I have, either way i'm in it until the lot is sold or mined.
Just looking for a change and some healthy conversation rather than posting about shares bought every few minutes.
Nothing wrong with a bit of healthy scepticism, but unless you are privy to internal timelines, commitments and conversations, we can only speculate.
I know people's trust is always in short supply, especially when it comes to money, and particularly on AIM, but I think you need to trust the Bod.
Investors wanted more shares. EUA took a smaller investment or should I say they took only what they needed .
Total $35 m now whats that for ? Time will tell ...
Timing was probably good for both parties ! Later they pay more to invest or EUA upset a few folk and give them a big discount .
Yes and that's fine Testing but it doesn't change the fact we can raise the money after the JORC when the SP is higher and we have less dilution, so why raise when we did ?
Think it's clear from the RNS - they need a specific amount of cash to pay for JV licences.
Afternoon,
Just a couple of questions if anyone can put their answer on a postcard.
Why did we raise at the time we did ? If we are expecting the JORC to be so fundamentally changing to our SP outlook and people saying about new ATH being achieved then why did the BOD raise funds prior when the JORC RNS is expected soon?
Also how can we put out an RNS stating that we are able to mine 1.7x the previously thought amount per annum yet the SP dropped back to create the average of 26.5p on that day, neither of these things make sense to me and less the MM games for my second question the first one has me questioning why, without being able to raise any good answers, we already had 20 mil in the bank so it wasn't exactly necessary and we could have diluted a much smaller percentage.