Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Agree sale appears to be the driver here or the excuse for getting nothing done according to plans as land out to us at AGM. Why bother.
Paying off $100M debt would the obvious course, but it wouldn't set the sp on fire either as it is not a loan the company needs to continue business or expand.
How about buying back SA just to see if the Russcies have a sense of humour, or having a tilt at DNO as their dynamic management team would perform a reverse takeover of our incumbents without even breaking sweat.
Hope Sami gets grilled by Malcy or BBC's Hard Talk program when he is free, and he may solve some ongoing mysterys for us.
As if.
The issue here is there is no real update now until the results in March. Results are expected to be at the lower end of expectations as per last update. This is the problem with only two updates per year, one real asset, take a look at the chart last year and how it dipped dipped down in October through to November. The only surprise could be the new cfo but that maybe short lived. I will look for 170 territory before coming back. Might be worth a few trades with no duty on gkp in mean time.
Also why hasn’t a buyback and dividend increased the sp? Under normal situations a company generating this amount of cash, with very clear path to 55k, and now paying chunky dividend would lead to a significant re-rate. What is holding GKP back. Can only be be political situation or sp situation or belief that management can’t deliver on their goals. Who disagrees?
Disagree about using money to up production. The point is GKP has too much cash. They are fully funded to get to 55k. They don’t have approval to develop beyond this as FDP not finalised. So while pumping more oil will generate more cash. What are they supposed to do with it. Larger dividends and more buybacks are reasonable options. Interestingly trying to expand in other regions is not considered as a viable route. An ambitious company would consider that route. The fact that they don’t all points to GKP looking to sell itself. All actions seem to point to a sale. Is it just a matter of time?
Agreed until the share buy backs are cancelled they add no value to the shareholders so wouldn't be happy for them to do it unless they are agreed to be cancelled.
All money should ge going into clearing our debt saving interest payments and increasing field production as neither the buy back or dividend have added any value at all.
Using company capital to buyback rather than invest in upping production is a bit naff.
Two reasonable why they are doing it are 1) they don't know how to run/grow an oil company, 2) buyback shares are going straight into treasury for later distribution ti the BOD in bonuses.
They will not benefit the shareholders unless they are cancelled (and I bet that will NEVER Happen here).
I sincerely hope we all understand the game that is being played around us here ?
Share price is laughable...and irrelevant until sold.
All these silly drops do is allow for more shares for your bucks or if trading a few gain free shares for very little work other than selling and rebuying lower although I wont personally take that risk as the day i do we would be sold and locked out.
Fully expect this recent walk down to go under 200 here we should really be approaching 400...be interesting to see what happens to the process when we do deliver the 55k bopd cane can't be held down forever.
My understanding is they can continue buyback at their own discretion. Timing would be good as shorter in the market are driving prices down.
Always looking on the bright side of life, next year we will be producing 50,000Bpd
and the cash mountain and divis will be growing by 10% or so,
GLA LTH Happy days ahead, Wink Wink
opulentia,
would you do me a favour and run for the next prime minister of England because i have never known anyone who can spin positive the way you do
Mary Poppins would struggle to keep up with you
Will we have another $12 million winging its way to us shortly???
Can the Company issue another share buy back whilst it’s this low , or do they have to do it through an AGM ?
GLA LTH Any one heard how the other connected by line is progressing , must be close to completion now ?