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.
Well said RB,
‘Wodderwick Lyne’ would have wrambled on about a how wonderful they were and how they needed to reward “All” stakeholders. By this he would have meant, bonuses for the board and employees, options and increases for the management and a few side deals for the friends.
JC (James Cameron not the “JC”) cut all the BS and described the companies issues and the people causing those issues and clarified exactly where the shareholders have been in the pecking order for the last eight years.
I think I could easily warm to the New Chairman ... we do seem to have been given a much more honest appraisal of the company and its current position and the interims have been much more informative on things that matter. I haven't completed my analysis of the results or review of previous statements but here are a few initial observations.
1. That the 2020 full year production will fall below prediction from Q4 '19 is wholly consistent with every single forward projection that PH & PM have given about this company in the last decade ... any who think this is a 1 million oz producer within the next 3-5yrs need to check their figures (and their sanity).
2. We've been given a clear indication about the cost of 3rd party concentrate ... we paid $130m for 100k oz of gold producing ore in H1 ... and sold for an average of $1622 ... so netting under $300 p.oz. Also that the price is a function of the spot gold price so we shouldn't expect to see these margins increase much if the gold price rises.
On an aside it seems to me on further review of the Notes from FY Accounts that in 2019 we paid $74m for 42.4 k.oz of 3rd Party Ore - so no wonder there was an almighty battle going on over the processing of refractory ore among the vested interests in the internal takeover battle. That PM could have paid over to some (undoubtedly) related parties $1700 p.oz for gold that was sold at around $1400 p.oz in Q4 '19 shows what a corrupt little **** he was !
3. IRC is still the basket-case I've been saying for 5yrs now. The truth about the IRC guarantees, at around $240m not $160m ; that IRC can still barely make a profit with huge rise in copper prices is and that it has all gone quiet on the Sale to Stocken front show that a sense of reality is being faced without the influence of nepotism - I hope we can walk away from IRC in the next couple of years without further loss.
4. Acknowledgement that interest costs are too high (at 8-9% for a $1bn company like POG when 'junk bonds' trade on yields of 5-6% ) and that shareholders need to be rewarded (with dividends) suggests that their is a silver lining !!!