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''biggles is just a tit and just here to sow doubt''
And yet he is unbelievably still here!!
Unlike certain posters who actually contributed a lot of useful information (but which LSE's 'Masters' obviously objected to!!)
That's off the scale sAs - absolutely PMSL at that. Love when he squirts the brown sauce into the paella :-))
Xeverton, definitely the best post of the year so far.
Just for that here’s a little something to make you smile.
https://twitter.com/paddypower/status/1529829863644975105?s=21&t=YRiGzbAy9VHVTd3nGvkOZQ
Hi xeverton,
I agree with you all the way. I'm in to the conclusion and confident as ever.
Congrats on blues beating the drop.
ATB
Sam
Let's face it sam, biggles is just a tit and just here to sow doubt. I fully believe In this resource and know it will come good, I have no doubt about this.
Take care people's
Xe
Banks would not be keen to lend to a Company where there was a preferential debtor (NCM). It’s chicken and egg situation.
Leslieby
Cheer up old chap, Biggl will be here Sunday to tell us GGP is worth F--- all.
ATB
Sam
Spot on samplank...... It's the twilight zone!
So, We lose Hydro and keep Canary 3 (not invested) and Spondy.
Happy days!
Couldn’t SD get a loan to pay off the NCM loan and the rest of the funding?
Magic
Exactly the correct balanced approach.
There is no immediate hint or rationale stating another placing is imminent, and there is every chance that one will not be required.
BUT... you never can say with absolute certainty.
However, that indicates that should a placing be required to fund the start of mining, it ought to be modest - IF required.
IMHO
Dip's notes cover it. I believe the plan is to get the banks to fund Havieron. I believe in the shorter term, all of our exploration is fully funded which is a good position to be in. Longer term financing for Havieron is derisked thanks to the quality of the asset. The NCM debt will hopefully be more than covered by the 5% payment which will clear the path for the banks to get involved (in addition to the feasibility study). Lots of reasons to think Greatland can deliver this. So i'd argue the risk of a placing is low right now but obviously can't rule it out. Especially since I have never seen a company be completely transparent about placings
I won't go on about it after this post, but SD clearly says that we will have to repay the NCM debt prior to getting bank lending, its not at 50 million yet ( I think), but it was over 20 the last time it was mentioned.
The 5% going to arbitration is a problem as we need cash.
Until that is resolved this is a higher risk than it was 1 year ago.
Thanks Dip. I read that as fully funded by bank loans until production and from cash flow afterwards, and from that there will be not shares issued for a cash raise and therefore no dilution.
In my opinion this reinforces the investment case. It's like watching the sun rise over the horizon. You know what going to happen and can enjoy watching it.
LSE Webinar in March:
* Bank funding, previously told us you weren’t keen on equity, going to be bank funding and you had some term sheets from the banks, wonder what the latest is on your conversation with the banks?
- $123m required, have $50m loan from NCM so leaves a gap of $73m USD although most likely given the JV provided security to NCM on that loan which is a lit bit unusual for JV loans, the banks will probably make us deal with that
- It would be rare that you would have a secured lender sitting above the banks so we work through that
- I think there is an opportunity to bring in some debt and again why can we do this at a PFS which is not normally when you can ‘bank’ these in the cycle?
- Because it’s a Tier 1 asset in a Tier 1 jurisdiction and our JV partner is a major
- All of those confluences in the same way that this is an excellent equity opportunity actually apply to banks, so I think we’re going to achieve something rarely seen in the debt market, which is to fund a PFS which again is a credit to the quality of the asset and the team we have.
Proactive Interview - April
* Update on financing options to develop Havieron?
- Again, part of what we want to do and it kind of dovetails into post PFS and around this 5% option, we want to be fully funded for the project
- It’s great that we get to leverage all this existing infrastructure and that manages down the CAPEX spend for a project of this scale, in reality it’s a very modest amount of CAPEX but it still needs to be funded
- Spoken with a number of banks, fair to say we have a group of preferred banks that we’re talking to now but we had comfortably over half a dozen main street banks we’d engaged with
- This asset has some hugely strong characteristics and qualities and it’s a nice asset to bank when you’ve got….. is it 1,2,3 or is it 4 decades of cash flow coming out of an asset and growth potential too, it lends itself to funding
- It’s a busy time for us, a busy process, but we’d like to get that announced and when we do I think we can be fully funded and again that’s a huge milestone towards the process
- And from there the timeframe to first cash flow or first production is relatively short
- So all part of getting through this transition period; having certainty of ownership, certainty of funding and a platform just to grow value from
- We’re doing some hard yards now to get all this in place but I have confidence we’ll get it all resolved shortly which will be good for us and then get back to focusing just on the asset too, which will be good fun.
That’s sad to hear Canary3. Shaun has already said he has debt funding ready to go alongside the 5%, so I think you may have misread that IMO.
I only posted because i bought back in as i said in the post. if you bothered to read it Project
Spondy the funding requirement was 123 million dollars ( 50 million covered by The nCM loan) but IMO it will be higher now, given the decline delay and inflation.
Bye, close the door on your way out . ??
I hadn't seen this post before posting on similar theme. I'm not the only one with concern then. Mine are about being diluted.
I took a loss equal to about 18 months pension.
I have posted a few times about my concern about funding and not about HAV. Its a given that Hav will be one of the stories for decades to come.
However the question is how will funding pan out, 1 year ago it all seemed very easy , we though the 5% would cover all of GGp’s requirements and perhaps we might need some bank funding and we thought that would be no problem.
Now the 5% seems to be disappearing into arbitration and SD mentioned on timeframes months but not years. Will the 5% be resolved before GGP needs to show funding required to move forward. ?
Interest rates are shooting up especially the 10 year , inflation is going up fast and the pound has deteriorated against the dollar.
We had a fund raise when the SP was 16 was a 10 discount from there, if we go back to the market for an equity raise IMO the cost will be high. Indeed the SP fall feels like one could be coming. IMO
For me to invest back to my previous level certainly on funding is required.
Now i bought back about 15% of my previous holding this morning mainly on the back of SD interview and i will buy back more if funding is addressed more fully in part 2.
IMO the risk has gone up significantly and i was blinded by the Asset and forgot about the companies finances.
We will see , i need to see 55p to break even with my new holding.
Good luck whatever route you choose to go