Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Morning.
Penciling in a move to 240-250p.
Anglo American said today :
"Our copper operations in Chile continue to work hard on mitigating the risk of water availability due to the challenges presented by the longest drought on record for the region, including through sourcing water that is not suitable for use elsewhere and further increasing water recycling."
Not sure exactly how much developments at Aclara would be impacted ...but water is becoming a precious resource too
Top gainer on the FTSE 250 today. This sp flips like an olympic diver.
bonks sadly I sold when the touched 30p although I did double my investment. I ISA wrapped HGM instead of SLP which was the rationale in selling. :(
Good balanced article in the FT about today’s news. The REM shares look a good long term investment despite the need to raise funds. Aiming to produce almost 30% of the worlds dysprosium outside of China. Must be a very attractive target for any EV manufacturer.
Ah SLP - what a legendary play that was from 7p eh?
You just had to hold on ...
From 7% up to almost nowt intraday. With most shares this would be a surprise, but not here. Perhaps another time.
friggin nonsense it is back down !!!!
Going to end up red at this rate.
Ken
HOC shareholders will hold HOC shares and some Aclara shares .... all the 100% shares currently under the HOC umbrella will still be there ...just held separately in two entities, instead of one.
The HOC Chairman and CEO will provide experience and decision making ..but will also use NEW Directors with "specific skills" needed that HOC don't have for this asset type... no "humiliation " there at all ... bit like a piano player being offended for being overlooked to play the fiddle ...different skills needed... even if they know how to play the same notes
HOC shareholders can buy more Aclara shares if they want to ....even the 20% held in HOC can.. ..if the BOD choose to invest in more shares ...
The share performance of Aclara will perform better as an independent entity ...than being a small part of the large MCAP of HOC
A 20% share holding would normally given a BOD place anyway ...customary
Ken
Maybe a move not to load up more debt on HOC as I’m guessing infrastructure on top of start up comes at a considerable cost. At the moment earnings more than cover debt so maybe that’s in their thoughts.
Or talks have been held on an ‘informal’ basis and spinning off another company guarantees them a fat salary should they sell the PM side of the business.
Is there not a production update tomorrow? Timing coincidental? Lots of questions to be answered and like any other pi all guesswork.
Leas,
Like you I am not sure why HOC is changing tack, and jettisoning their move into REMs.
The wording of the RNS suggests that dealing with precious metals and also rare earth minerals is too complex for the current board. Yet this does not seem to apply to Eduardo and Ignacio. Had I been a director at HOC, I might feel offended by this.
I believe that they are looking ahead and de-risking on the mine. Dosn`t look to be for the shareholders benefit TBH.
Historically, demergers tend to be good for investors (as today’s sp gain tends to suggest). The parent company usually sustains its value, while the spun-off entity typically gains 20% within 3 years of demerger.
HOC have invested just over 60m in buying and developing the asset. Asset value must have increased significantly since 2018 as REM are even more in demand which will surge as carbon emissions are reduced. Im guessing circa 8% of the current MC is a fair value.
Not so sure why the company now has a different strategy in finding value for its shareholders.
Not so sure it’s so they get ‘double salary’ as suggested but it certainly throws up more questions than answers.
I was invested in SLP when it spun off its Iron ore business and there are many similarities here. Owning shares in both resulted in a very good profit for me so I will keep holding and add if there is further sp weakness.
All opinion of course and judging by the quality of some posts here I’m sure many will have their own strategy as more information is made available.
I don't know what to make of this news - some more clarity and detail would help, but it is clearly a good deal for some.
"Management focus: with the Company's management team focusing the majority of its time on precious metals deposits, an independent Aclara will benefit from a dedicated, standalone management team and board."
Dedicated and standalone? I see that HOC's Chairman and CEO have appointed themselves to the new Aclara board. Certainly a good deal for them - they will now receive two lots of salaries and director bonuses for managing the same projects as before.
"Eduardo Hochschild and Ignacio Bustamante will be appointed to the Board of Aclara as Chairman and Director, respectively"