Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sorry Frog, you are correct. I meant reliably ramping copper production up to the significant volumes stated. There remains a lot still to prove imo.
Neither do you and if they had I am sure JLP would be all over it like a rash. RNS would be out so fast you couldn't blink so for now until I see an RNS saying so I will take it as a not yet.
Hi Mr Gray, yes I have accumulated quite a few over 15 years or more
Frog
You have no idea if IRH have put money in or not....
You are a big shareholder here frogkid? Kalan you waiting to get in?
Thanks Kalan, extremism is rife in our society. We don't need it here. I'm broadly very impressed with Leon and ofen say so. But he is not the messiah and things go wrong. In these situations we need to ask questions.
They don't want to get it Gray1.
They just don't get it Kalan.
Gray 1, Frogkid, Edzi et al. Keep posting - the debate has ratcheted up 500% due to you. Honesty is seeping through - when they start name calling (derampers. negative etc, you know you've won the argument). You all own shares here but are realistic. We are all going to make money and sharing can only help that process IMO.
So Tiverton it isn't a fact that JLP will miss this years copper guidance? It isn't a fact that IRH are yet to invest a single penny in the business? It isn't a fact that the copper electrical component has now been delayed for 21 weeks? It isn't a fact that JLP raised money for "general working capital purposes"? There's more but I can't be bothered with it.
Accept your point Northern. If JLP borrowed capital to invest in capital projects then no problem. When they raise it from shareholders it's not quite the same in my book. There is zero doubt in my mind that JLP did the placing when they did because they were running out of cash due to capital expenditure on Thutse and Roan. IMO they are spending more than they are getting in right now and are robbing Peter to pay Paul (love these old sayings). By that I mean using the money from the placing to finish Roan - even the parts officially allocated for advanced waste rock purchasers. It will be a while before we get the financials to prove I'm right. But I'm quietly confident.
It's no biggy in the long run but the over run is costing money.
When money comes out of the same pot, it's expenditure, spend more than is coming in, it's cash flowing out (net), the accountant labelling part of it capex doesn't change that unless he gets extra money in and we all know where JLP get the extra money from when needed.
Not playing any games - just saying it as it is - can't see why people have a problem with that.
Anyway- great investment this - from RNS, expecting Roan running by end of May/ mid June, fingers crossed and production to be higher than where it is now by end of June, with nameplate production by mid to end of July. Based on what the RNS said.
Tiverton, you are a chump. I have every right to hold LC and the board to account as I have invested a lot of money here. Better than being a sycophantic lemming.
Tiverton Who have I been abusive to ? What abuse have I said? Please state and show examples. I can clearly put happdays calling me and imbecile jut for starters.
Guys the only way to stop these two being so negative and abusive is to ignore them completely just let them post between themselves DONT FEED THEM hopefully then they will go away
It was mentioned in the RNS and it didn't state it was for the advancement of specific projects it just said and I quote for "general working capital purposes". They needed it they took advantage of the placing to cover it and raised it.
Some businesses do it with a loan some have enough cash flow to cover and some do a placing JLP chose a placing no big deal they were honest about it don't know why others are trying to make out they didn't have a short term cash flow problem. JLP have clearly acknowledged it and moved on.
Pretty sure working capital was mentioned in the RNS SeisNav? I'm too lazy to look.
@heroric, to suggest the Cu will not appear makes no sense, we already produce it!
They didn’t do a placing to raise “working capital” it was to advance the specific projects that were in the proposed placing RNS. The placing was oversubscribed so they raised more than planned. What company is going to turn down extra cash at a time when they are trying to grow the business? It doesn’t follow that they needed that extra cash for a cash flow problem. Unless of course you think Leon was lying about the reasons for the placing. Kalan obviously does as he’s said as much.
Gray1 there are increasingly some good (and returning long term) posters on here now with much needed open discussion also taking account the traits of JLP - and their input is very much appreciated and valued. Please dont be put off posting and asking the hard questions.
The only way we win here is to be very careful, scratching below the surface. Ignore anyone saying its a no brainer or a certainty. Its absoutely not and JLP have a loonng history in which I have won and lost. We are here in hope, currently I am currently mostly out though annoyingly bought a few literally the day brefore the last RNS. I ve since sold a few of those at loss as I fear this may drop further during this latest delay. The big question is - will they ever deliver the copper? - they have a lot to prove and at the moment imo are not doing a great job of proving it. Lets hope they do but I am applying an abundance of caution and question everything and do not buy into it being a "no brainer", "certainty" etc.
Ard Begger says below that IRH have entered a binding agreement with JLP. Much as Id like that deal to be done, I am not confident that is the case as it has not been definately stated as we had expected to hear. What was actually said in the RNS I felt was vauge/coy leaving room for doubt and interpretation. Have they put money in yet? who knows? - that is the joy of JLP
Working capital is working capital shuvlin however you want to dress it up and the business didn't have enough in it to cover ongoing and new operations yet to come on line just accept it. What's with the agenda? Is it so unreasonable to you what I have posted about? It's not that contentious happens in business all the time.
There will be a time lag in spending working capital to process the rocks to turn it into copper before they realise any cash coming in from that process.
Jlp realised there may be a short term cash flow problem so raised extra for working capital therefore the cash flow in the business at the time probably wasn't enough to offset this position so would have been temporarily negative.
They have covered this good business decision nothing wrong in accepting this JLP have. Chrome cashflow will improve this.
Depends on what you mean by General working capital, obviously the new equipment will have working capital needs as it is prepared for operation so that is over and above what is required for current operations. You are jumping to conclusions which fit your agenda perhaps?
An increasing requirement for working capital to fuel growth is synonymous with an expanding company; it signifies nothing. But as Northern rightly states, in terms of current operations the company is cashflow positive..
· For general working capital purposes.
Taken from the last placing RNS so some of that money was expected to be used as they anticipated a potential cash flow issue.
This would suggest there was a potential short term cash flow issue which Kalan highlighted and according to JLP there was whilst they advanced the module process which they also raised money for.
There was a temporary working capital cash flow issue JLP said so why deny it? Hopefully we have seen the last of it and cash from the chrome process will offset any possible further short term issues whilst we wait for the Copper ramp up.
Thanks for highlighting it, Northern. Its the same basis on which BT used to claim that profit re-invested is not a profit because it isn't sitting in the bank or being distributed to shareholders.
Kalan,
I am one for balance in views up and down. I think the challenge some people have is how language is used.
For example you talk about cash flow and "in the medium term turn truly cash flow positive".
Lets be clear on an operational level JLP is cash flow positive. JLP is currently choosing to invest in capital expenditure to further develop the business. The FD has a view on the timings of cashflows and also the facilities available to the company and will manage this accordingly. Your use of language may lead the uninitiated to believe JLP can't pay their bills which is incorrect.
ATB
Northern