Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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YT appreciate your posts very informative thanks.
Apologies yet again for the awful set of typos. Combination of poor text to speech. Small keyboard big fingers and some complex visual issues.
AP90,
I think that it is reasonable to say that:-
- Whilst the pkacing is done by the existant nuog it is organised by C4. The incoming funders appear to have been i troduced solely by C4.
- We have no idea how much of the likely net 450k will actually go on unpaid bills. Some of which will be salaries. By my estimates they ran of of money in September. The outgoung board are quite lkely owed money and there coud easily be additional liabilities to HMRC, rent etc.
- Going forwards Scotton and Jackson and accomodation would appear to be all that is left to be paid. Plus whatever the incoming directors which to offer themselves incompensation and cross chareged services relayed to asset acquisition and due digence.
- Historical cash burn has been in the region of 200k monthly. Incoming funding would run out rapidly at that rate. However it may, hopefully will, be the case that costs going forwards will be considerably reduced extending the length of time it lasts for.
If is reasonable to say that incoming funding will run out fairly quickly. External professional fees could easily eat it up very quickly indeed unless they have some way of deferring these.
The question is whether C4 believe the incoming residual funds are enough to get the RTO implemented, or whether it is simply enough to get to a position of greater clarity. The RNS doesn't really give much of a clue. Half a million doesn't got very far in oil/gas due diligence. I know what charges rates are in my industry at all levels, I believe they are similar in Oil-gas. Half a million would keep a 6 man team going for about 4 months.
The placing money will surely have run out by spring latest.
The new lot are hardly raising £500k to pay backdated wages to a failed outfit. Either way, that small part of the equation is irrelevant imo.
Ap, I agree about the snake pie salesmen not telling us when they are selling...it happened with Oldco Nuog and it will happen with Newco Nuog, just like it happens with all other shares. However, you're attaching too much importance to the £500k. The new outfit aren't the skint ones and there's hardly any wages left to pay for the old lot as they stepped down with immediate effect, hopefully hanging their heads in shame.
The new team have something in mind and aren't waiting for a measly £500k to start planning it. That isn't the issue imo....the issue is whether their plan comes off and whether existing holders have an opportunity(ies) to salvage some of their losses. It's going to be a whole new company so your certainty about it failing is about as accurate as those guaranteeing a 10 bagger....nobody knows for sure and I hope it stays that way, with a lot less whispers and ideally no self-proclaimed insiders this time around.
So after months of nothingness we have seen high percentages of this share traded every day recently. There are surely MMs, brokers and all the associated forces making this liquidity. I find it bizarre that they fight for their cut at the expense of the investors.
I have been on Twitter groups with people losing their pensions and even terminally ill that have lost their life savings. It is ridiculous that those orchestrating this activity have no conscience and just pursue the £ without consideration of the impact this can have on people.
The forces moving this share will not result in a happy ending for most. Think long and hard about any investment here, consider buying your family and loved ones something before chasing promises from posters that will be gone with the wind.
This is not only exceptionally high risk, but a collective group of people that should be researched and judgements made.
My reason for posting is not to de ramp but to stop further people losing money to the morally bankrupt forces out there.
Of course the fullness of time will only derive the conclusion........