Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Idiot.
I think the BOD have said all they can until the offer is ready to be announced, they've let us know nearly all the assets will be sold and that the dividend will be at a premium to the current SP IMO (ie. significant).
It therefor follows to me that the SP will drop significantly afterwards.
Big question is how how much is significant?
We all know EUA are going to sell a substantial amount of assets, what we do not know is, what does the BOD's define as an asset and how many there are, hence why we are all putting forward what they may be and value.
Aspen
I would appreciate clarification on what the company deems its 'assets'. The Flanks (in particular NKT), MT, the RosGeo sites etc. are all licenses or candidate license regions. The proposed sale must include some but not all of those, else how could it be seen as "substantially all" of the held assets?
I also doubt that "substantially all" excludes WK which is the only producing site, so impossible to know with current information if the BOD intend to only keep a producing mine and exchange the rest for a dividend, or sell the producing site in which case the fee will largely go towards future growth and building the future of EUA as a big player. Typically mining sales value only proven assets, so that would suggest the only good value will come from WK and MT (if they're close to a DFS on the resources)
They are playing a blinder, just look where they have taken things over the past 2 years, we have nothing to complain about.
The wind is perfectly in their sails.
The best indicator of future behaviour is past behaviour.
Anyone keen to bet against them is simply a fool.
“This is the way”
DLA
Trift x
...or by doing it this way, it’s a sign of major competition. The BoD is keeping the door open for a certain length of time to become their recommended offer. That may save themselves some break fees in the process.
May need our resident legal eagle to back that up though...
Exiting the FSP could have been a clever ploy by the BOD to test the metal (excuse the pun) of companies which had expressed an interest, or maybe even made a lowball offer. By stating they have a proposal lined up the big boys may now have to come out and declare offers outside of the confidentiality safety of FSP. Which could then lead to a bidding war. BOD may have played a blinder here if they are confident of a sale...just a thought
Also if it's an asset sale not a takeover FSP not so relevant and allows late entrants to stall it as all must get the same DD. So negotiations not finished but safe to come out of FSP if confident a credible buyer is serious maybe. EUA continuing is also a way to receive contingent payments or royalties if a deal is structured like that. It may be given the reserves are state approved not jorc in some cases.
'The company just spent months in a FSP for the sole purpose of extracting an offer for the company. The FSP has now ended and still no hard offer.'
Circumstances changing IMO.
My personal belief is we had an offer from NN in December (which I believe was the cause of the rule 2.9 announcement), then something changed which is why we saw the AC sale and subsequent Rosgeo JV.
Almost seems like NN were throwing jabs and distancing themselves from any possible movements of M&A in PGM's going forward ever since then, coincidence? I think not, are they ticked off that because the state decided to hand the Rosgeo JV to EUA?
Whatever has changed is a result of new developments that will further enhance shareholder value in the long run, something sweet to keep us happy for now, and then in the long run, a good stream of dividends.
Bottom line is you either trust the BOD to deliver or you don't.
Maybe it’s all made up and they’ve exited the fsp with a white lie they have a bidder, therefore trying to get someone to step up to the plate save all the ****ing about lol
A dividend over a quid would be truly amazing :)
I agree - this Japanese consortium kicked the door down and gave the BOD an offer (in principle) they couldn't refuse. Just dotting the i's and crossing the t's now.
Tomorrow is another day closer.
GLA.
GLA.
Kopf
Like us I believe the bod were getting fed up of the time taken to complete the Fsp. I think it was stopped to in order to finalise a deal. By stating they have a preferred bidder it will force anyone else interested to make a counter bid in quick time. Just my opinion.
I truly think an offer was accepted in principle in early December on the back of the WK DFS, the parties were finalising terms the last few months and then bam...EUA make themselves even more attractive with the Rosgeo JV area added to the mix, which then attracted the Japanese who have now made an offer in principle. I think they will be finalising terms now and I would hope it could be concluded for approval at AGM. I truly hope the divi is over £1
Dealer IMO if they focus on one bid it must be almost done..IMO they had enough other chances but this must be by far the best deal for ´the shareholders=the BOD´
So we must be very close..
So last chances to buy over here
I am getting pretty nerveous for the outcome..call it positive nerves..I wish everybody all the best..a big outcome over here can change a lot for people who believed in this beautifull stock
I wanna end with some words of Rowka when he left us:
What´s in the ground and around the local area is so valuable,whoever gets it,at whatever prices,they will be very,very lucky..
In many ways the success of this company is worth more than money,that will be spent and forgotten,but the good ship Eurasia that will stay for ever..
Wise words from Mr Rowka and a beautifull end of the day
See ya all tomorrow
Just have to continue to trust the BOD. I do. But would like some clarity. As I said it out of FSP but lead to believe we have one credible offer at 99% of the company or whatever then why not get it done.
Knopf
Maybe the takeover panel had a word
This is what bothers me. I was very happy with the tone of the RNS, but the content was... questionable. The company just spent months in a FSP for the sole purpose of extracting an offer for the company. The FSP has now ended and still no hard offer. I've heard some excuses thrown around on here and on Telegram, like the disposal rule can't be actioned in an FSP situation... but surely that all comes after the receipt of a credible offer, not just upon the possibility of one
Because more than likely, we will see a significant dividend, and not a full company sale so there is no longer a need for an FSP, whatever was offered for a full company sale was clearly not acceptable for the BOD.
I don't really understand why the FSP was stopped. The FSP was initiated to attract offers. It appears they have one they are keen on, so why not let the FSP run to its conclusion- i.e. a confirmed sale - with this offer ? Why stop the FSP and pursue this offer outside of it ? I don't really understand that.
If the BoD were not focused on the one specific deal from the reputable party, then I don’t think that would have called time in the FSP?
This is pretty much over the line IMO details to be revealed imminent.
That crossed my mind. We have selected 1 preferred bid and are focused on that. Well by now you know what that is in money and time terms. So seal the deal, why mention it that was was odd.
Reading the recent RNS several times now, I think the wording was deliberately flexible so not to pin down the BOD's to any one particular outcome ; the RNS states they have received a good offer but at this late stage are still willing to accept a better offer / offers, whatever those maybe, ie several scenarios are being considered.
Aspen
Thanks all.
You are right. Having sat in silence reading the board for so long in anticipation, now we near the end game, my mind is running wild. No concerns, whatever the outcome I'm sure it will be positive. But the anticipation about how this bounty will be released is killing me! Clearly need to get out and switch off!
GLA
Shareegn it would need to be more than 50% of all we have to qualify for Rule15 (or meet Google's view of "substantially all" our assets). Remember those two things were mentioned specifically in the last RNS.
We may end up with a minority interest/ free carry and earning royalties, so not selling all our interest in the licenses is possible and could meet the conditions for both those things. We don't know enough to rule it out yet.
We'll just have to wait and see. GL
who would pay 90% of the assets ??????????, the aquifer has to make a profit ....
It's a complicated deal, and there is no need to over tax your brain until EUA give us the detail via an RNS......