Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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For anyone down a big amount, isn't this a massive opportunity to average down?
It doesn’t really matter what we think. It’s the financial backers opinion that matters. The question is whether they will force the board to accept the offer or agree to sign off on the proposed turnaround plan. I really hope they have enough confidence in the new board to decide on the latter. In truth the Seafox offer was perfectly timed to force the issue. Although they allegedly previously made a move to establish a holding at 18p they got fried. So they are unlikely to come up to that level. It’s poses a real dilemma for the funders. Do they cut and run or do they retain their faith in the board.
Mathew, perhaps need to bear in mind that virtually all the market is down today.
Disappointing that the ask hasn't at least moved up to the offer price. The current spread is a joke!
Seafood has laid a marker will need 12p Imho
Better than fair I reckon. Exceeded the previous EBITDA advice, exceeded their target to reduce costs, E Class barges moved to MENA already working or mobilizing for work. For me all going in the right direction; no way I would support a takeover at 7p!!!! Need to be minimum of 30p to have any chance as far as I’m concerned.
With the results seems fair???
Phffff!
Exactly, so 7p....
The info is all in the 2nd RNS and it’s 0.09USDs not £s
Sound advice from the board. The turnaround is underway and the company is stronger. I wonder whether the financial backers will force the issue with the current board or will they show confidence that we are on the right track I’m sitting tight!
I was starting to think an offer would never come. Anyone have any idea when an official offer will be made?
9pps....Would You?
Too true. For Seafox it's Lots of new assets. (and order book) On the cheap.
I can't see why the board would spend the last year doing all the hard work of reorganising the firm, negotiating with the banking syndicate, lining up a capital raise, to then support a buyout at these levels. IMO this is Seafox anchoring (excuse the pun) for a more sensible pricing point down the line. (I hope!)
yep 18pps. At the time most thought less than 30pps was ludicrous. This offer may swing the shareholders. And maybe more than the last........You can only live in hope.
Yes that’s all true up to a point. There are down sides too like idle vessels and the current oil price but I do believe we are in a better position than a year ago. Time will tell.
Maybe the results will push this over 10p this forcing there hand to bid higher or a counter bid could emerge??
Though not reflected in the SP, company in a much stronger position now. Board and management group stronger; huge reduction in operating costs; much better barge utilization and banking etc all agreed. Having failed at 18p, I can't see why anyone would want to sell for 7p just when it seems they are emerging from very tough times. FY 2019 results tomorrow so we'll see soon enough whether this has legs; either way 7p is something of a desultory offer IMHO.
indeed it was around 18 pence. I wonder what the board will do. Will they support the offer. I can’t imagine so but if they do then it’s a fair indication of the state of the company.
Think tbis is an opening salvo they will offer more imho maybe 10p+?
Was it 18p they previously offered?
surprised? it was never a question of if, but when.
So, FINALLY, Seafox has shown its true colours like a vulture.
Not sure if these are vessels are still "at work". Looks to me like an easy 2 bagger or more from here, GL