Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@sirimc - doubt there is any point in contacting the company. Probably better to contact someone from the regulatory side - but I don't see any explicit violations. Or another large institutional shareholder - ee don't see anyone making any noise as it is too small to bother with. Nevertheless with SF & friends controlling 50% of the votes (or maybe 43% these days as Horizon didnt commit to the equity raise), its tough for a major investor unless Mazroui and Horizon switch sides. On the plus side, I think merger would require an approval from 75% of shareholders, which they clearly won't get. Perhaps to get this majority, they might do a dilutive capital raise where they can 'underwrite' the offering and increase the stake. Intentions still unclear, but the tone is definitely not minority friendly. Will find out by mid next month at the latest
Today’s announcement that from 1st July Abu Dhabi will cease the requirement for visitors to quarantine upon arrival, is great news that will potentially reduce the additional costs GMS has been required to absorb due to COVID.
Agreed. The lack of audited results and numbers on Q1 trading is clearly designed to obfuscate the company's strengths and create doubt in shareholders minds, before a lowball bid. Remember, the board have similar company which they have explicitly said they wish to merge. How do we know there isnt a problem with trading ? The banks will have checked the books and would not have provided a better deal if theirvery large loans, relative to equity were at risk. In addition we know that a few different equipment providers are reporting 80% utilisation rates and we know that above this day rates start to shoot up.
I hope people are contacting the company to register their disastisfaction.
Total disregard for the remaining 60% shareholders, and definitely playing games. I don't think they need to wait till June to make a bid in the low 20s.....rather any bid between now and June has to be at or above 22p. So if they are waiting for the June deadline, expect it to be in the mid teens. Accelerated/institutional placing works for me, as long as it is done at higher price. Will find out (hopefully) by mid next month.
I agree - it is pretty painful to watch. Why are there no details around at the very least the plan and strategy for the $25m capital raise which needs completing in the next 6 weeks? Why no investor results presentation call for the market? Why no capital markets day since they've been in control? One would think they really don't give a toss about other shareholders, or they are just incompetent and don't get basic shareholder communication best practices. Or they are playing games. I suspect it's the latter. I suspect it's better than 50/50 chances they are just winding down the clock to the early June deadline to be able to bid again. And I suspect anything in the low 20s pence range and they would succeed. On the other hand, what do they want to achieve by owning more of the company? They already have control for all intents and purposes, so perhaps it would just simply be to deploy more capital to a high return opportunity. Who knows. If they are not playing games, then on the capital raise given the time remaining it's pretty clear it will probably be some sort of accelerated placing with some institutions (including themselves) and not a rights issue which would allow us retail investors to partake. All becomes very clear in the next few weeks!!
@seanx, not worried about the underlying value. Just don't see any value unlock happening if management doesn't communicate. Its almost as if they don't want the share price to move. Its also painful to just watch this show - should get on with the capital raise and move on.
Seanx agree. The SP will better reflect true value when they announce the successful equity raise of the $25M end of June. As indicated, to the end of 2022 they will use income to reduce the raise of the further required $50M. Were they to make a low ball offer I feel sure that they will in no way be successful unless the offer were to be in the 22-25p range.
with new interest rate LIBOR +3% on 400m is only 12-16 m, EBITDA $50m is enough to cover that with surplus more than its market value. The board also confirmed major share holder agreed equity raise. So stop worrying yourself, once equity raised, it is deep value stock .
Let's not forget the $400m debt pile
It appears that the release today is a bare minimum just to meet their deadline - once again, disappointing communication from the board
1. Why is this still 'unaudited' figures? Its almost middle of the year....
2. No guidance on 2021 revenues or ebitda other than the higher utilization, which is not very useful to investors
3. Nothing on the planned capital raise.....
4. No call for investors - obviously they don't give a s**t
Looks like they are pushing to cross the 4 June deadline to make a lowball bid again.
M/c $27m
$102.5m t/o; Adjusted EBITDA $50.4 m
Not holding me breath either on a takeover, unless SF wants to screw everyone and make a bid after 4 June (when they don't have to make a bid at 22p).
Paying down debt makes sense, but a $5m dividend has more impact on equity vs. paying down the same amount and saving on interest. If they do a $25m capital increase plus current market cap of $35m, you get $60m valuation. A dividend of $5m (not an impossible amount), means a lot to the equity holders at current prices.
A rival bid would be great news, but I'm not going to hold my breath, and much as I'd like a dividend or two I think they would be better off paying down the debt with any spare cash.
....but the only way to make money out of this stock is to hold it and collect the dividends or if someone makes a bid for the entire business. Zero interest in the shares from other investors (so far)
Earnings tomorrow?
thin volumes ahead of earnings next week, along with details of the $25m capital raise
gulp..
Looks like the spread on this stock keeps getting worse, 20.8% this morning, no wonder there is no trading going on......is this all part of a sinister plan? Does our current BoD have a hand in the MM pricing??? Or, am I just being paranoid??
perky today
Happy if i see 10p stable price to start with....
20p would work :)
Their corporate broker Panmure came out with a report and target price of 20p. Not sure many follow this broker and I believe it is owned by Qatar institution
looks like i was right, again.
to see a nice entry point again
Much better volume today, the bigger the tickets the better.....I stand by previous comments of some insider action before any major moves, so will keep an eye on ticket size....good luck all that have been in this as long as I have !!!