Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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last close this low was 3rd July @138p Oanda was @$42 Vs $44 today, no big surprise.
got to love this share .....little kick in the nuts to end the week - Nice one Mark, well done, it was all yours yesterday tbh
The current deep cut in (sp/book value) is reflecting the krg shenanigans...otherwise the sp would have been well over 250p by now...on valuations only..
Geopolitics is a long-standing issue and already embedded in the current sp market valuations.
Gas prices are up by 30%+ in the last two weeks...you can figure out if positive news of gas was coming through in yesterday rns...
For now oil prices are leading in sp determination ...as long as no gas ..just imo
In conclusion We are at the mercy of the krg and oil price for now...
One thing that does bug me with genel is that it often seems like the production successes are due to DNO rather then genel. I think the market view and confidence in genel would improve if they demonstrated leading their own production success. Preferably gas!!
My additional thoughts are that it’s Kurdistan that’s the main issue not Genel itself. They don’t know if and when the outstanding payments might arrive and it does not sound imminent. KRG are also cash strapped. How do you make future growth plans when you don’t know if oil will rise or if KRG can pay. This is why Genel said they can adjust quickly accordingly to the environment. On gas- how do Genel agree a multi million/billion gas deal when KRG can’t even afford to pay the sums on the relatively low oil production levels right now. Guess it’s possible but the current environment is not conducive to it. Only some thoughts fwiw
Company valuations are based on its assets and growth.
If you look from top down then the RNS looks ok but if you look at it from the bottom up then it’s not good.
As the market valuations are almost always based on future prospects which was not forthcoming in yesterday rns so the SP dived down.....sarta is jam tomorrow and gas uncertainty continues .
In Genl case at the current SP I prefer to value it from bottom up but its assets underground are hampered by the krg to be exploited to realise value and gas expansion is crucial and of course farming outside kurdistan is another important steps to do this but neither had happened but left in the air again!
Sarta is oil and in the 4Q and unknown quantity for sake of certainty to add acreage but this will not push the price very high in comparison to farming outside Kurdistan and gas exploration but we are now waiting to the end of the year at the mercy of the oil price and covid19 issues...
I have not sold any yet..But really was hoping on better news On gas and farming outside Kurdistan..
The report could have been a lot worse I agree, we do sometimes take for granted the control established under Higgs and Co, a material improvement from previous management regimes. The SP performance yesterday sucked, the report was solid which should be considered a real achievement in the current climate - SP didn't respond well which is clearly where our usual party person Hasiba is coming from (Mr Market comment), bottom line, we will never know what our SP performance would have been yesterday without the report, I guess we'll see what Mr Market makes of it in the coming months.
Be interested to get a wider consensus from the regulars on here with regards the report, we've heard from:
Boyo - Positive (see below post)
Bunks - Solid, disappointed with Bina not making the headlines (SP Sucked)
Hasiba - Negative - Not enough progress e.g. Gas
L3T - Confident but would ditch the divi
Leem - Over priced, report doesn't support current SP range
F15 - No longer holding due to KRG payment issue
Rangor - Not too bad, some positives (Sarta etc)
OilHG - didn't read well, lack of future positives
Despite ordinarily being less optimistic than many around here, bunks, I don’t think today sucked. G’s sp reached about 195 in mid January at an OP of $65, which equates to 132 on a pro-rata basis with OP at $44, and I view today’s sp with that 'pre-crash' context in mind.
I thought today’s report was as good as it could be, given all the headwinds faced by G, and was reassured by the tone, the numbers and the demonstration of effective management control. I was slightly surprised by the announcement of an interim dividend but it is clearly manageable without detriment to the business and shows a firm commitment to investors that was first made over a year ago - well before the difficulties of Cov-19, OP crash and KRG payments came along. I had no great expectations regarding Bina Bawi so was entirely unfazed by that but was pleasantly surprised to learn that Sarta is still on schedule for production in Q4.
but we've had worse, could easily be BBSD tomorrow, who knows - Collective chins up.
Current standings (todays close was 144p):
Mark888man...144
withoutt 145
Bunks...147
Boyo...148
Whitehat...152
Broadband...155
Hasiba...160