Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Greetings oh! Visionaries of the future.
To hold or not to hold that is the question, whether to take a few slices as and when we get Dips and Spikes or whether it is nobler to stay with the cause, I ask you brethren can we last out against the mighty strength of Tyrants, or just fold on on a full deck - hoping that we eventually win.
As I have said before my baskets are many, some doing exceptionally well, some funds to which I would dearly love to add - but do we have the prodigal son coming home one day to release us from the torture of not knowing.
I have to make the decision soon as by the time MTL come to fruition I may be planting daises - Oh -- sorry - I already am.
The candles did not arrive - the cake was burnt - no party. (YET)
Roy (very frustrated)
CarefreeCarry - Fair comments ..Lol!
It's always one law for the rulers and another for the general population...Animal farm comes to mind!
However, best to keep on our toes now that there has been a regime change, lets hope that sins of the father do not re-visit!
GLA
Second in Eurovision Song Contest and all of a sudden we're respected lol.
Law abiding? The populace yes but the government not so.
And Marcos holds the record for the "government that stole the most money from their country". Their practice was that any company that was successful that they wanted...they stole.
I entirely agree TheNavigator. My wife is Chinay (Chinese-Filipino) and some of my closest friends from a university I worked at in Quezon City took part in the Edsa uprising and now work alongside human rights lawyers. They recall after the revolution to overthrow Marcos having a tour around their palace that was dripping with the gains of corruption. Our business friends (some of whom are super rich) are moving capital out of the country.
To highlight one example from Marcos' long list of corruptions: he took over a sugar magnates business by kidnapping his son. He then lowered the minimum wage on sugar workers so, with his stolen business, he could milk a bit more money from it. It also meant that some of the poorest people in the Philippines were even poorer and Marcos, who had billions, got a little bit more wealth. But that is the nature of that family.
CarefreeCarry - It is does not reflect well on to distort my text so blatantly.
At no point did I imply nor insult the Philippine nation, I feel the opposite, I have Filipino friends and love their gentle & caring mentally and feel very sorry for what has happened to them in the past!
Even a moderate reading into the sins of Marcos Sr., will reveal how billions were looted from the people, the countless individuals that went missing never to be seen again and the list of violations goes on and on. One can be forgiven for calling such individuals "despots"!
How democratic was the election? Highly debatable in my opinion, given the vast amount of money that went into engineering the outcome. Money can move mountains and the Marcos family certainly have access to plenty, not to mention any Geo-political influences that may have favoured the result !
If an internationally respected and law abiding nation such as the UK can consider tearing up international agreements, then surely it is not stretching the imagination too far to see for other countries to do also.
GLA LTH
Let’s be clear, we have phases 3,4 and 5 gold remaining, that’s a minimum of 5 years, plus DB is confident to extend the range of those phases and hopes to get another year or two, so let’s say we have 6 years of gold resources without buying new plots in the Philippines, DB states debt free by 2025, that for me gives 3 years of debt free production before running out of gold, its during those 3 years that you have both the need and the cash to acquire new plots, there is absolutely no need to take further expense any earlier as being debt free and not paying interest is the most efficient use of future gold profits, I personally have no worries with the government, MTL have been a nothing but beneficial to the Philippines, the locals have had quality employment, quality education and health care, improved infrastructure, massive tree planting projects, and all with no serious injuries to the employees, they are an asset to the Philippine economy and will have leave no reason to not honour the licences and agreements we currently hold.
TheNavigator - "some despot"!!! Why would you insult the Philippine nation in that way? Mr Marcos was democratically elected in the same way that previous encumbants were.
Tearing up international agreements seems to be something that our current government is more than comfortable with. Maybe that is clouding your thinking.
Can't see much changing Marcos is pro-mining and the outgoing president's daughter is his vice president.
CarefreeCarry - That is good news provided some despot does not tear up the contracts or place new indirect financial tariffs to the mining operators!
But something that continues to perplex me is, why has the CEO and other BOD have not put any skin in the game by buying significant shares in MTL. Surely they must see the potential ahead ....Why not I keep wondering!!
GLA
TheNavigator - MTL has has an FTAA since 2009 which is a binding agreement between the company and the Philippines and is valid for another 12 years with the option to extend it for a further 25 years.
@ Carefree
I'm a long-term holder with the desire to continue to hold long-term in order to reap dividends benefits ...very much along the lines Lee has expressed in the past!
Simply interested in gaining further insight as to how the new political landscape might affect the LT prospects of MTL and other foreign miners in the Philippines.
GLA
Will have to wait and see, my vote is wait, we have waited so long anyway.
It will be a gathering of information and decisions to be made - it will not happen overnight.
As always the output and gold price are substantial factors to be taken into consideration along with ;-
Long term employment
Revenues
Economic development
Strategic positioning in the Gold market
General good feeling within the community
They have a product!!!!!
Roy
Wasn't your last post about how inflation wouldn't be running away when it was at 4.2%?
I think you also commented about the merits of Bitcoin.
Hmmmm lot's of de-rampers out lately. Is it half term?
I agree with Lee and others that CEO and crew are steering a great path towards debt clearance and th future looks bright for with the patience and stamina to stay for the long-term!
With Marcos Jr. having been proclaimed as the next president of the Philippines, has the political grounded shifted in an unfavorable way for foreign mine operators like MTL or quite the reverse?
GLA LTH