Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hurricane clearly being sold off now, absolutely no question about that. The really question is who is the buyer and for how much!!
from memory wasnt maris a free agent at the time - in other words not employed?
i wonder if the board were just happy going to the odd meeting ,signing stuff off and taking a salary - and that was why trice got away with whatever he wanted. the only one who questioned governance ended up departing...Maybe they have just operated the same way with maris and unfortunately he is not up the job . something is clearly wrong
Clearly it appears there is something rotten in the state of Denmark, as far as Hurricane is concerned!
The reasons that the SP has not reflected the benefit of the increased POO on the income stream is down to the interpretation of the negative views recently, and continually, expressed by those in control of the company. Such negativity acts like blood in a sea of sharks as predators fight to profit from destruction and provide entertainment for interested spectators!
The BOD are the stewards of the company, employed by shareholders to manage and protect their interests in the operation of the company. This stewardship allows decisions to be made in the best interests of the company, and not those of individual investors, or a combination thereof. Holders of corporate debt may specify conditions for the loan of monies, but unless these conditions are broken, they, like the company’s investors, should step away from the company’s operations. The BOD, in accepting debt finance, should not agree to conditions that are to the detriment of their employing investors – particularly if conditions cannot be divulged to investors, because of their commercial sensitivity. The actions of the executive element of the BOD are held to account by the non-executive directors – the whole of the BOD being held to account by investors at the AGM and any necessary EGM’s.
Events change quickly, and usually as a consequence of several factors. Who in 2018 would have envisaged the declining POO and in 2019 the effect of the CV19 debacle together with the departure of Trice in 2020?
It can be accepted that individuals who are able to turn a concept into an income stream, are not necessarily ones that can also go on to manage a successful company. Professional management is quite different from the skills required for an initial entrepreneurial drive, and that was a failing of Trice. The BOD’s recognition of the problem was badly handled – Trice, it can be argued, was / is of critical importance to Hurricane’s success, possibly in a technical Director role. The CEO management of the company is another matter. However, I fail to detect any improvement in the CEO performance of the two individuals who succeeded Trice.
“Confidentiality” prevented a true assessment of facts. Investors are totally reliant on the BOD acting in their best interests. At the time, mid 2020, investors could only speculate as to Trice’s departure and the true state of the FB, the amount of oil recoverable and the ease with which this could be achieved, and the general state of the company.
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