Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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This admin team need to go to jail imho,
Lawrence, I was referring to the point the Administrators made re: potentially deferring the sale due the decree.
Which would halt the fire-sale.
I mentioned sometime ago re: querying the decision of the BoD to waive bankruptcy protection in Russia too. I did say that I thought some of the criticisms of the Administrators wasn't well thought through.
So does look like Administrators are doing due diligence. As I said, there is some fair comment (re: could the BoD have done things differently) but the Administrators are doing the best they can it seems.
Its marvelous Hasiba, marvelous.
Yep its in the last paragraph.So the decree has played a part. Whether they will get round it is another issue but its so good to get a dig in after being on the ropes so long
https://petropavlovskplc.com/wp-content/uploads/2022/08/2022.08.08-Press-Release.pdf
“ 29. The Administrators are aware that on 5 August 2022 the President of the Russian Federation promulgated executive decree no. 520 “on the application of special economic measures in the financial, fuel and energy spheres in connection with the unfriendly actions of some foreign states and international organisations” which took effect on the same date and made certain transactions subject to presidential approval. The Administrators and UMMC-Invest are considering the effect of that decree on the completion of the transaction.
30.The Administrators will provide further updates via the Company’s website, petropavlovskplc.com.
Administration Contact Details:
Creditors: petropavlovsk@opusllp.com Shareholders: petroshareholders@opusllp.com
Media Contacts:
Nick Hood
E: nick.hood@opusllp.com”
It seems there is a good chance that this deal might not go through and that’s will be great news.