Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Mushroom not hitler he lost, more like Churchill
Exactly napthman. I'd love to see what SD's office looks like. I imagine a huge table, like they had in the war rooms, but instead of moving battalions around, he is formulating a drilling campaign.
(That must be a cue for some wag to use that Hitler bunker video that has been used a million times before on social media...)
I see havieron as an insurance policy now moving forward on our new exploratory journey with the new licenses sbd jv's, if all the rest are dusters, which i doubt we are still guaranteed multiples from our current SP value, imo
Ah TMT..you just want jam on it :)
"Many would say no because the chance is only 10% each time."
I would say "no" because I wouldn't gamble all I have on anything. I might gamble some of what I own but not everything.
Beyond that, I would say no because the risk-reward equation is pathetic. If I'm going to bet on a 10% chance of hitting, I want to make better than a ten-fold increase. If I have a 90% chance of losing everything, I want the 10% to pay off at least by 15-fold and probably by 20-fold, or the risk hasn't been worth it.
Hi Josh, I believe you are right for a discovery 'anywhere' but the odds are significantly lower than that when in a proven area/present infrastructure/keen experienced mining partners etc etc.
They are almost certainly higher than my 1 in 10 example too which was really to draw attention to attitude to risk. So yes, somewhere between one in ten and one in three thousand!
Mushroom kid- aren’t the chances of a commercial quality discovery more 1 in 3000?
This discussion reminds me of the law of chance as opposed to probability.
If we assume that there are twenty tenements and each tenement has a one in ten chance of being a big hit and a hit would increase your investment tenfold would you gamble all that you had on one of the tenements hitting the jackpot?
Many would say no because the chance is only 10% each time. Personally, I would go for it because the probability is that two of the twenty would be hits. Maybe only one but then possibly three. Yes, there is the chance that none would hit and you would need to live out of the rest of your life as a lowly pauper in an alleyway somewhere but....:)
Maybe that should have been my opening sentence! :)
@BR "Acknowledging your post TMT"
Nevertheless, you're right to remind us that anything beyond Hav is a long-shot, and anything outside of the Paterson is even more of an outside chance.
Acknowledging your post TMT. some
Good points as always.
That’s an interesting one TT because we know the best place to look for a gold mine is a gold mine.
So while anything with an E45 “postcode” is very very desirable right now. These plays else where this year are somewhat an eye raiser.
But. Never say never. And we have to trust that the leadership team know what they are doing.
Be aware of the downside, and try to forget the upside, because where this story ends is anyone’s guess.
Cheers to you.
@BR "But TT (and I sound like a party pooper)The chances of a second strike and it becoming a mine are rather slim."
Totally true. But Hav actually improves those chances, too. Three important points:
1. We know we're in elephant country. The fact that three elephants have been found (Telfer, Winu, Hav) improves the chance that another will be found and we got in first in choosing preferred targets. That improves the chance of a second strike.
2. The chance of a second strike becoming a mine are improved because of Hav providing infrastructure that can reduce the necessary CAPEX to go to mining. For example, a hit at Scallywag has a much higher chance of becoming a mine because there's going to be infrastructure right next door that can likely be reused, and a road or railroad to Telfer.
3. The chance of a second strike becoming a mine is also increased by Hav because we'll have the money we need to develop it. Hav is going to solve the funding problems that hit most discoveries by juniors.
Your point is well-taken but we're in a unique situation and the odds of us having a second mine are certainly higher than the odds for most juniors.
Everyone that understands GGP will be here for the potential upside on further exploration success....there are no down sides because Havieron alone is ultimately worth 60p plus and growing.
We are told that is what SD is here for...to grow GGP into a "Multi-asset" "Multi-billion" business.
I find your reply somewhat strange TBH BottleRocket. Are you implying that we shouldn't do any more exploration because we have Havieron and another hit has a slim chance? Do you believe that all of the other explorers in the Paterson shouldn't bother?
Of course I'm backing the winner we have, but, as I said, that will look after itself. Personally I want to get out and explore the other tenements, which is what Greatland is all about.
But TT (and I sound like a party pooper)The chances of a second strike and it becoming a mine are rather slim.
Not saying it won't, and the Patterson is as hot as anywhere right now. But this has to be treated as our 1 in 3000 chance now.
Investors need to be more aware of the downside than they do the up.
We have 20 tenaments now. How many realistically will be mines in 15 years.
Back the winner we have, not the one we hope. That can be our bonus prize once we are enjoying the fruits of this long period of accumulation
I do understand it, but sometimes I really do believe that many people seem to forget that we're an exploration company, and that they are totally, 100% transfixed on Havieron. IMHO, Havieron will, essentially, look after itself, and I'm actually getting to the point where I'm now more interested in what's happening, and is scheduled to happen at our many other tenements.
We only have to strike valuable mineralisation in any one of the other tenements, to be in a situation where all bets are off in terms of the sp.
Luckily the Greatland Gold team were, and are, ahead of the game, especially in the paterson, and we probably have a better chance than most to come up with something else valuable.
Let's explore!
GLA
I may have reached out to him for an interview, see what he really thinks of our 12 x 12 patch in the desert!
Another nice interview with Steve on the KEReport. Well worth a listen - WA is his favourite region for good discoveries at the moment, I wonder why?????
http://www.kereport.com/2021/06/16/a-discussion-on-possible-ma-for-resource-juniors/
ATB - Paddy