Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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viti - welcome back to the board, and always good to read your views. One recurrent theme in many posts is the reference to takeover possibility - and whilst there is nothing to stop bid(s) being mounted, I find it difficult to believe that BH - now firmly on board and fully aware of the potential here - would countenance anything short of a proper valuation. Basically, they have the funds to repel all boarders, and appear to be fully committed to chasing their own investment in this exciting project as it approaches fruition. All IMHO of course!
Hi All - I've not posted for a while (and I enjoy the sensible discussions here), but have been a very very long term shareholder , since well before the Aim listing, and I've always had confidence in the gas assets and hub strategy. As GG points out, having a fully funded plan reduces market volatility , and I am certain that the current discount to risked NAV will narrow as project execution risk is removed. With the exception of LCF administrator placing risk (and even that may have been reduced by todays announcement that many LCF bondholders will be made whole by the Treasury), there is no reason - prima facie - for the discount to be sustained. We will be left with some reservoir performance risk, but there are enough satellite tie in prospects to mitigate that. The value gap will be closed either through investor demand or takeover. GLA
Some great posts today. I've upgraded to Strong Buy :--)
Hi Aligator
I tend to agree with your figures and would like to think we should see 40p+ by first gas this year.
That could be boosted or at least supported by further acquisitions and of course good well test results at Elgood and Blythe.
At present the 1P/2P/3P for Elgood is 13.3 / 21.4 / 34.4 BCF and Blythe is 23.3 / 33.4 / 46.8 BCF.
If they can achieve the mid case figures or better then that will be very positive.
We should remember these are proven reserves, have been well tested and proven Development wells, therefore along with the latest seismic reprocessing data should produce good results.
A nice slow steady increase in price from news on Elgood progress, Blythe NUI being installed and drilling the development well, then on to first gas end of Q3 should bode well for us
The Thinker,
I cant see us being viewed as a company that pump and dump lends itself to or being under the radar.
I would say we are making good steady progress towards first gas and have a solid well documented and fully funded forward plan that the markets and MMs are fully aware of.
We are most certainly not a speculative exploration company that attracts the pump and dump brigade and that is maybe where we are different, the MMs will always have a play but with a solid and fully financed path to production we are in a good place.
My concern is that there is the real threat of a takeover especially as we de-risk and get closer to production with a very profitable and low carbon asset.
Will a major player in the Gas / Energy Supply Industry stand back and allow us to get to full production from Phase 1 and Phase 2 and pay market prices or simply make a bid to take us over.? I don’t believe they will sit back and allow us to become a larger player.
A nice problem to have if it does happen and we already know from previous interviews that the BOD would be open to discussion and potential offers. The more we progress and add infrastructure and de-risk the assets the higher the offer price will have to become.
Good luck to all
GG
gator - very much in line with your mid and long term assessments of IOG and SP movements, based as ever on viable and independent evidence. Would not say however that we are "off the radar" completely, just undergoing a quiet patch after a raft of positives earlier in the month. April is already way ahead in terms of trading numbers, and looks set to beat the total of trades in Q1 of this year, whilst SP has advanced some 35% in the same period. Have also noted that in spite of some profit taking just recently, the MMs have steadfastly held the Bid in anticipation of the next level coming soon perhaps? And, unusually for this share, dummy Sells for substantial numbers have been accommodated with ease at the bottom spread price. We get some seriously useful Rig movement and Drilling news from sailor and GG, and these advances in the completion of Phase 1 have doubtless contributed to the new confidence from the market. Patience comes a lot easier when you perceive the solid progress now being made by this company towards a game-changing milestone. GLA
Hi Ali, thankyou for posting this and citing your sources (most commendable, so few posters do that). My feeling is that IOG is off the radar of MMs at the moment. The doubling of market cap and hence sp would be welcome but we all should be aware that this would probably spark the interest of MMs with inevitable shenanigans that come with it. I hope not but seeing it too often at the moment in a variety of my holdings. It got so bad that I resorted to taking profits prematurely on many otherwise long term investments rather than see them 'pumped and dumped' by MMs. Would love to see the big rise you predict but let's be careful, watchful and keep the profits coming to the hands of us IOG long term RIs. Good Luck everyone.
as we wait for first gas and, logically, a climb in the share price. MarketBeat suggests 42p as the next ceiling, which would be an almost doubling of the current price. At this price, the market cap would double to £200m. However, a review of the many NPV figures generated for the core project phase 1 over the last couple of years, suggests that IOG's 50% will be at least £250m, which should, in theory, push the sp to 52p and beyond, not least underpinned by commencement of phase 2 of the core project (Goddard, Nailsworth and Elland).
Just my musings and, as always, open to responses positive or negative.