Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Pembridge short term financing
The capital raise and listing of Minto Metals on the TSXV were expected to be completed by the end of July 2021. As a result of conditions outside the control of Minto's management, the capital raise and listing have been delayed until now. Repayment of the CAD $4 million receivable by Pembridge from Minto is to commence after the capital raise and is to be repaid in 4 equal quarterly payments. Due to the delay in the capital raise, the first repayment is now expected in Q4 2021 instead of Q3 2021.
This has impacted the cash flow of Pembridge and, to ensure that the company has sufficient funds to meet all its ongoing obligations, Pembridge's Chairman and CEO, Gati Al-Jebouri, has provided an additional facility of up to £200,000 to cover any cash shortfall until the end of 2021. This facility has been approved by the Pembridge Board of Directors and entered into on 21 September 2021. The Facility carries interest at an annual rate of 14%, to be paid upon repayment, and an arrangement fee in the amount of 6% of the amounts drawn down.
To be fair, I'm pretty sure that PERE would have already folded without Gati. The only reason that I have any holding at all is because of him. With some luck, he's going to pull a rabbit out of the hat and I'll add more. My own holding will stay small until some clarity appears.
Also, miners are being hammered at the moment. Even the Blue-chip ones are suffereing. It's therefore going to be interesting to see what happens with the IPO. Maybe a delay is the smartest thing.
I invest in cash cows :) DYOR.
@K3VMC:
Yeah, this was the reason that I sold my large holding months ago. I didn't 'get it'. There's stuff that Gati knows that I don't. Maybe it's innocent, maybe it's not, but I don't gamble on that type of thing. I don't know where this is going.
I added a new micro holding and will look to trade it. As I said a few times (nobody ever comments, because everybody knows that it's true), it is quite possible that Minto, if it ever goes to IPO, could shoot up, but PERE might not, because PERE will just be a tiny fund holding a single share, with a CEO that can reward himself whenever the shareholders (mostly, 'himself') approves it... This could easily become (might already be) a cow for the CEO to milk. I dont invest in cows.
This is why we don’t get anywhere with Gati.
“ The Agreement provides for a committed term loan in Pounds Sterling in an aggregate amount equal to £1,000,000 (''Facility A'') to be made immediately available to the Company for general working capital purposes. The Agreement further provides that the Company may request a further facility in the form of an uncommitted term loan in Pounds Sterling in an aggregate amount equal to £700,000 (''Facility B'') provided that the Lender will have full and absolute discretion over the granting of such request. The sum of the principal amount outstanding under Facility A and the principal amount outstanding of Facility B (together, the ''Convertible Loan'') is to be repaid in full, together with any accrued and unpaid interest, on the date falling two years after the date of the Convertible Loan Agreement, being 25 October 2021 (the ''Termination Date'') and carries interest at an annual rate of 8% of the Convertible Loan, to be paid in arrears on the last day of each month. The Company shall pay to the Lender an arrangement fee in the amount of 6% of the amounts drawn down under the Convertible Loan.”
PERE is Gati’s little play toy. It will undoubtedly find more copper and make more money, but you have an oligarch who has no checks and balances. Lend my money to my company? Why not? Why don’t I charge it 8%? Even better, why don’t I have an arrangement fee of £60k? Yes Gati, help yourself to that.
Sorry Gati. What did you have to arrange, exactly? Did you have to arrange to be in the same place as yourself, to sign the document?
Any idea what this ipo involves? No. I have no idea either. This is a CEO/Chairman, that has ZERO accountability. This is the guy who can’t bring himself to update the market properly, every quarter. We produced x concentrate, Sumitomo sent us y dollars. That’s it. That’s your update. How much ore, from where, what percentage copper in the ore, what gold credits, what silver credits?
NOTHING! I wouldn’t trust him as far as I could throw him. One person will benefit from this IPO and that’s Gati. Shareholders MAY benefit from the IPO, but that’s probably going to be accidental.
What? It was 1k shares in UT. The sells should tell you something.
Big jump into close guys - now at 6p. +9.59%. Something afoot. Minto IPO inbound!!! BOOOOOOOOOOOOOOM