Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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And you wonder why you lose money then call it a "scam"...
"So why the hell did they not buy in the market. It beggars belief."
Lol, DiveCentre never learns.
The answer is obvious and provided in the bond document FOR THE LAST TIME.
It is very worthwhile reading Richard Bernstein’s witness statement and particularly the email exhibits.
Points to note are that it was HUR’s Chairman Steve McTiernan who suggested buying back the CB’s (paragraph 12 page 3)
“Mr McTiernan asked our opinion about the Plan Company using some of its cash reserves to buy back some of the Bonds (so as to reduce the Plan Company’s liability). During my discussions with Mr McTiernan, he described this buy back as a commercial no-brainer. I agreed, and told him I thought would be a good idea.”
So why the hell did they not buy in the market. It beggars belief. The Ad Hoc group of CB holders represent just 66.17% ( i.e. less than two thirds) of the total holders which suggests to me that there is a market that could have been bought into. If they could have bought just half of the remaining 33.83% at a 50% discount it would have knocked off 39k, plus the interest saving.
And secondly there is Maris’s reply emails to RB which on a number of occasions cite personal reasons as an excuse for the delay in replying. If this man has personal issues that inhibit his ability to correspond with a major shareholder then is he fit to run the Company?
And you will receive a new link by e-mail to attend the meeting from HH's Clerk
At 10-30 am
Starts again tomorrow morning..
Wow! At last, Questioms being raised about the whys regarding the Lincoln P&A, OGA's involvment, and so on. That judge is a sharp cookie and onto the case.
There are 3 parties and the skeletal arguments of each is a days reading.