Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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omg, I know all that. I was referring to the costs of our oversight role (yes, mainly travel and related costs) that we no longer bear but are now shared like everything else. ergo: SMALL savings, SMALL positive. sheesh
There you have it bluerill. Thanks for clarification on funding Lotto.
All three entities have equal economic interest in Minto Exp. The $10m owed to two cornerstone investors and the staged payments to Capstone will come from total cash flow into co, NOT our 1/3rd. The cornerstone investors aren’t in any rush to have their money back. That leaves only the first $5m payment to be made, that too under 2 conditions: within 90 days of mill achieving 60% of capacity. That’s 2400t/day. (We’ve averaged barely half of that monthly so far and managed to create $10m+ revenue). Stability achieved. Growth is being accelerated. What’s not to like here? DYOR. Good luck all
since forever. now they will share operatorship expenses. not a big deal, but a useful positive. ask gati about it tomorrow night if you wish
Since when have Pere been funding it 100% bluerill?
Looks like it will cut down on travel expenses.
Just hope this 'next phase' doesn't involve more painful suspension or crap raisings.
Underwhelmed.
I think this is a small positive in that it appears that all 3 parties will now fund this instead of PERE footing 100%, so this will save us some dough while providing a constant, local presence.
Not sure what to make of that :-/
Gati Al-Jebouri, Chief Executive Officer and Chairman of the Board said: "Pembridge has worked hard to get the mine into production since it was acquired in June 2019. As I have indicated in previous communications, Pembridge has a three-phase development, the first phase being the strengthening of the finances and operations of Pembridge and Minto. It has become apparent that there are a number of inefficiencies associated with the time zone difference between the UK and Yukon. Therefore, installing an Operator for day-to-day support to Minto management not only aims to improve the efficiencies of operating Minto, but reduces the management costs attributable to Pembridge. This step completes phase one of our development strategy and allows Pembridge to concentrate on its next phase of growth.