Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Kane,
Did not get that at all Kane - I think it was very measured and very positive. A slight negative (and that is probably more to do with Investor expectation) is the slower than anticipated drilling programme of their Clearwater Acreage - this is primarily due to weather / ground conditions and also a closed window from Feb to July due to wildlife preservation. I would expect to hear some very positive news in that regard over the coming months ready for a significant program to start in the winter.
Confirmation that the drilling of the farmed in acreage will start in May and add in around 600 bopd of OIL over the next 6-12 months. This is very significant as Oil is by far the most profitable component of the production base and will disproportionally increase FCF.
Serenity was surprisingly not mentioned until in the closing remarks when Majid said:
"....we have multiple catalysts to grow the dividend and share price with Serenity and multiple catalysts in Canada that has a high probability of leading to strong growth in the dividend and share price....."
So very positive albeit a little slower than some expected and the prospect that Serenity is tantalizingly close.
Thanks for this Kane - I noticed that Serenity only gets a passing mention right at the end. For other readers the bit on I3e starts at about 19 minutes in and ends at 33 minutes in.
Couldn’t listen to it all he (majid)sounds very negative and seems to down play the assets?
Will listen to it again when I can be bothered maybe over the weekend
Some pr at last
https://www.**********.co.uk/articles/tekcapital-i3-energy-blue-star-capital-and-paul-hill-270c49e/
Maestro,
i3e have historically issued Yearly reports in the 1st week of June - who knows they may surprise and issue before the end of May this time.
Selling - I'm not seeing any heavy selling or large sells, so unless there well informed PI's out there - it currently looks like a a very few of them have lost patience and are selling out - patience is key if you have identified a golden nugget - lets hot we have and are not polishing a t_rd !
I think the language is very positive on the Serenity update - "........we remain confident that we will achieve a successful outcome". Given their track record - I think they will be eager to under promise and over deliver - I read it as something happening sooner rather than later.
Ggg
Previously they have worded f/o as adavnced this time they state its progressing. So i doubt we hear anything on that regards short term.
Its canada we should be looking at.
Tony end of june.
Why is this falling?
GGG,
Yearly results due by end of May and maybe some additional updates ! So you have 2 or 3 weeks to get in I think.
Feels like tiny trades are creating a little drop after PIs were expecting a +10% trading bump. I've said previously that I think the market is waiting for the divi to be confirmed, then you'll have people jumping in and holding for their 6.5%. The hold will be there because Q2 will be paid shortly thereafter, alongside results coming from May wells, and maybe even a f/o. I'm expecting a mini re-rate to 12-13p in the run up to ex-divi date. Yesterday's news was v.good. I'm very happy with my money here and to be honest I'm hoping there's a touch more weakness over the next week so I can shift some money from another investment to here. First time in i3e where I don't want really good news to land for a few weeks. The irony isn't lost on me. GLA
GGG,
Debt $40m. Net debt was not immediately apparent in the report but a news release accompanying the report put it at $35m so I guess cash or cash equivalents of $5m.
If I include the loss in hedging it makes i3e look even cheaper - but I'm not understanding the table on page 7 to estimate the losses or gains to income that may arise due to the hedging in the coming quarter so i've ignored as a one off cost. These hedges were put in place in April and some due for July so may or may note be better priced relative to i3e.
Hi Tony, thanks for the analysis and comparison v Gear. Out of interest, what is their debt level?
Thx!
Gilteddge,
I think you are quoting Metalmonkey correct ? The money set aside for Q1 indicates that the dividend is not 11% but nearer 6.5%. I think what he is saying is that with the workovers, price increases etc the dividend in the coming quarters could quite easily move to 11% based on todays SP.
I can see this happening or equally the dividend staying at 6.5% and the SP increasing to 15p !
One thing not mentioned is i3e's yearly report. As they are clearly following AIM rules and not TSX - it should be due before the end of May. This should fill in a lot of blanks and hopefully more good news !
This poster on CEO is suggesting the maiden dividend will actually be around 11%...any comments?
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Following field optimizations and workovers, ITE should be chugging out around 4100 bpd of liquids and 35 MMSCFD of dry gas. Local prices have taken quite a jump... AECO gas is up nearly 5% to 2.89 CAD / GJ and MSW is sitting at $61/bbl... at these prices the FCF should be running north of 50MM CAD/year for the liquids and 15MM CAD/year for the gas... so $65 MM FCF total. Consider that in addition to the additional unutilized assets and you have yourself one helluva deal... quarterly update or not. Buying at 0.165 today will yield you an approx. 11% dividend on your original investment.