Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Afren plc ("Afren" or the "Company") provides an update regarding the review of its capital structure, liquidity and funding requirements. In light of the Company's current liquidity position and in order to preserve cash while the review of the Company's capital structure and funding alternatives is completed, the Board has decided, at the expiration of the 30 day grace period, not to pay US$15m of interest which was due on 1 February 2015 under its 2016 Notes. While such non-payment will result in a default under the 2016 Notes, this will not result in an immediate obligation to repay such 2016 Notes or any cross-default under its 2019 Notes or 2020 Notes or its other debt facilities. The Company has received assurances from the ad hoc committee (which members hold in aggregate approximately 55% of the principal face amount of the 2016 Notes and 44% of the total principal face amount of the 2016 Notes, 2019 Notes and 2020 Notes) that the committee has no current intention to take enforcement action with respect to the 2016 Notes held by its members as a result of the failure to make payment of interest due under the 2016 Notes, in the hope and expectation that agreement can shortly be reached with the Company and its key stakeholders on the terms of a consensual restructuring that would preserve the Group and its business as a going concern for the benefit of all stakeholders. The Company is continuing constructive discussions with the advisers to, and members of, the ad hoc committee of its largest bond holders, the coordinating committee of the lenders under its US$300m Ebok debt facility and its other lenders regarding the immediate liquidity and funding needs of the business. It is expected that any agreement with the Company's bond holders and debt providers regarding the provision of interim and longer term funding and a broader consensual restructuring is likely to result in economic terms associated with the new funding and/or the issue of new equity which will substantially dilute the interests of the Company's current shareholders. While the Company is also having discussions with its other stakeholders and third party investors regarding interim funding and recapitalising the Company, the Board believes that an agreement between the Company's creditors presents the most likely solution to the immediate issues facing the business. There can be no certainty that an agreement will be reached. Further announcements will be made in due course.
Ignore the Trolls
The 7th pour was in November and was announced as the largest pour to date at that time at 693 ounces. That RNS was a confusing one as it also discussed a more recent pour on 6th December without making a clear distinction between the two. The 9th pour (January) is smaller but is announced as the largest "SINGLE" pour. Can anyone clarify the distinctions? I've asked this on the regular share chat as well but I'm not sure who reads which.
Spike target .365. It almost MUST bounce Tues/Wed as the risk of it CLOSING below 0.2 would suggest abandoning ship due to the share becoming unchartable.
Bluepeter, shortage of oil means they can´t supply. Like I posted before, last 3 years there was no shortage only speculation. See the blast of an oilplant, maybe in your neighbourhood, the damaged tank in Antwerp, Katrina etc. The only reason is: drilling, exploration, transport and change over to other power sources need alot of time and alot of money. Do you realy think that summer, winter are the cause and not the strong demand in the new economy country´s? Look ahead at least 1 year, sometimes 3-5 year. Keep in mind , all big compagnies and all gouvernments are trying to keep their hands on all power sources, only because it´s money for both of them.
jaak, I think the price went up Nov/DEc because winter was approaching so more oil was being used for heating, putting pressure on supplies and therefore prices.
BluepeteWhy don´t you ask the same question by the price rice in november december? there´s no shortage in oil. Only rumors and sentiment.
What's the reason for the large price drop Wed to Friday, Feb 3rd? Bush's speech?