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i will accept my loss at 11.59pm AND MOVE ON!!
Will you move on also?
Yes entering admin...and why are they not already in admin...
did the RNS state discussions had ended?
No i think not...
Problem is we are talking from real experience, but if you want to clutch at straw then go for it by all means.I did say in the morning that I was surprised people were still buying it after this RNS as lenders had 4 billions at stake and if they had any hope of getting their money back they would have struck some sort of deal.But it looks like you cant accept your loss and move on.
They're entering administration.
No. The intu group is no more, nor a number of internal associated companies.
I think the oft quoted DYOR is a useful reminder to us all to stay calm when share dealing and try as best you can in dealing with the facts as they present themselves.
At the end of the day companies like this are failing for a number of reasons and the dwindling share price has reflected that. There may have been a last gasp survival, but even if that were the case the business still has an unthinkable level of debt, reduced rents, a horrid trading environment and the same leadership which has brought it to this position (from being a FTSE 100 co).
It's a shame and I wish all the investors the best of luck.
if they are not out monday morning then unlikely.
These posters that state otherwise can not even tell you 100% if they are now in administration!
11.59 WE WILL BE WISER.
You never know, it’s a strange world that we now live in!
Will these shares come out of suspension?
In short, no. The creditors will take over, bond holders. Everyone and the kitchen sink will get some money back, but not you guys.
Lol ReepReward, you're taken the ****, aren't you?
tale. Don't think this is listed on AIM, but it certainly feels like it. These boards are full of rampers, who imo are worse than the derampers. Generally, it's not a good idea to average down in stocks, unless they are ftse100. I'm sure a lot of you have lost a packet here. Best is to forget about this share - ask your broker to remove it from your portfolio if they can, as you won't see any cash back from it. Watch out for the rampers, they're always in too deep and play on naive PIs for their own nefarious gain.
And trade again?
i think i am going to start going on other forums and state i would not have touched this after bad news....
wow i will be some investor!
Anything retail or even connected to it I won’t touch since the Debenhams debacle! I really burnt my fingers on that one so I know how it feels for some of you. Chins up! With the market volatility right now it can be made back up in no time. Good luck to you all.
2019 audited accounts put Net Assets at £1.8bn (£7.1bn total assets - £5.3bn total liabilities).
Very crudely, if we discount all assets by 25% that = £5.3 bn, or nil NAV per share.
Bearing in mind that the assets valuations in 2019 accounts were already based on chunky writedowns, would anyone, Sain included, have anyone any optimism of a better outcome for equity holders i.e. better that 0p per share? If there was a lousy £100m left for equity, then a lot of latecomers to the party would do fine.
Of course i can afford to lose my gamble...but its still not nice. im just at a loss as to why someone would hover like a vulture here.
Hanging around a board waiting for the final blow...just so you can say.."told you so".
if it had gone the other way we would not have heard from you again.
But we are all different and if thats how you get your kicks, suppose your not harming anyone...annoying a few maybe!
Hello Sain, And in the immortal words of Mick Jagger, "Its' all over now." However, there's an unwritten story behind this debacle and I'm wondering if we'll ever find it out. Back when I first became interested in early '19, it seemed to make no sense that the largest shareholder, with over 50%, was just a non-executive director.
You and I both know, from our days between Berkeley, Grosvenor & Hanover Squares, that all large commercial property companies are built up from nothing by egomaniacs. They get "respectable" later, after the founder retires. But until the founder goes, the board are just window-dressing. What Napoleon says goes. Only later can the board have a genuine discussion on the merits of a proposed deal.
John Whittaker has always been his own guiding mind, building Peel Group up to the point where, it was said, you could travel from Manchester to Liverpool & cross the Mersey into the Wirral without ever leaving land owned by him. A journey of over 40 miles. He merged his shopping centres into Intu, for a half-share, & seemingly gave up control. Why? He's only 78, he hasn't lost his wits, so why would he take a back seat to a bunch of executive directors?
My question is; Did he really lose it over the past five years, per the truly dreadful Derby deal, or has he played a very long game to get control of everything? The CEO's who ran the company weren't remotely in his league, yet reading the Sunday Times long article last month, he was still behaving like an old-fashioned founder. His office is under the dome of the Trafford Centre. He flies in daily from the Isle of Man by helicopter. He's supposedly raised over £500 million cash from sales of other assets to refinance Intu.
Is this all BS, fed to a gullible journalist? And all the while he hasn't given an interview to another soul.
It wouldn't surprise me if he's got a deal cooking with the administrators for a package-deal to cherry-pick the best assets and, as you and I agreed last Spring, the losers here are the small shareholders, left whistling for their "investment".
I see from checking this column, before posting, that you advise that the vultures are already picking the carcass for certain centres. In a spirit of goodwill, I'll open the bidding with £100 for their 1/2 share of Derby, but I expect the Kuwaitis will gazump me - though not by much!
Seriously, please keep us all posted on developments. This is endlessly fascinating.
Dont have no desire to feel "superior" but was trying to make things clear. I am not ashamed to admit that i made loads of mistakes but investing in a share when a Bod clearly states that administration is looiming is not one of that. Having said that there were loads of sane voices like "sainvision" who predicted this demise.Having said that I hope that you have not put in any money that you cant afford to lose. Debt is 4 Billion and most of their tenants cant afford to pay rent in this environment.Nobody would want to touch these properties in this environment, unless sold at a discount.
sham, my trading strategy ?
Whats one of them?
Only difference between me and you is i admit to what i have done and not pretend to be WB.
I ask again why if not gambled on here are you posting?
Do you have some sort of desire to feel superior?
I did not take any "gamble" as last RNS was dead give away that this company was heading for administration, and be under no illusion that these discussions only started yesterday or last week. But if you still decided to invest in it after that RNS then you need to review your trading strategy.I have not seen or heard any shareholder receiving any money once a company is put into administration .But I would like you to go through Carillion, flybe, Debenhams, interserve, thomascook?NMC and Finablr.All of these were put into administration and some of these still have active bbs, you can ask their shareholders if they have received any money.
I did not take any "gamble" as last RNS was dead give away that this company was heading for administration, and be under no illusion that these discussions only started yesterday or last week. But if you still decided to invest in it after that RNS then you need to review your trading strategy.
Thats a good point, RNS at 13.43.
Trades still going through at 13.54.?
Hi all i saw the last trade at 15:56 on lse website for intu share can some one explain how come these trades got Succesful and try to sell at 15:53 and it didn't went through ??
raymansays@gmai.com
sham,
why are you posting?
How big a gamble did you take?
And dont say you did not...otherwise why post?
Adminstrators would be working hard to salvage whatever value they can for stakeholders and mainly major creditors. At one point intu NAV was 6/7 billions and well before corona virus hit, its tenants were struggling to pay rents and few of its customers went bankrupt.That did not help company's finances as its rental income kept on falling and during these 4 or 5 months they only received 15% of expected rent. Problem is tradional retail is dead and that is affecting landlords like intu.Administrators would offload these at give-away prices and there would be no value left for shareholders.
oh well one mans loss is another mans gain...…..
The pin stripped sharks will chop this up and make a fortune!
Its not like theyre gonna knock the buildings down!