Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Natural gas has been testing $2.90 for a while now but finally breached, prices today highest since Jan 2019. Next stop $3 as we move into winter in the Northern Hemisphere, bound to push the price still.higher..
All looking good..
agreed it has had delays, meant also to be drilled last year too and now updated to 2021 but these situations are more complicated than simply identifying drill targets. Once discovery is made then it starts from there. Only positive in this is that it has been ongoing and if anything will come to a head soon you have to feel.
Gut feeling this going up very shortly.
Topping up tomorrow
Elsewhere, the company notes that talks with a national oil company regarding a farm-in to the Pirity concession, in Paraguay, have now resumed following prior hiatus amidst the coronavirus (COVID-19) pandemic.
President added that it is currently anticipated that definitive agreements would be concluded before the end of this current year, which would allow for drilling in 2021.
Significant Discovery in Paraguay.????
What significant discovery in Paraguay?
The promise was that the prospect would be drilled in late 2018 but various events have made that not possible.
Signs are positive for a sharp increase. Too much going on for it to stand still;
New revenue from gas sales which have been flowing for a while from Las Bases
New well LB - 1001 results expected this month
EVN-x1 potential to open up another 20 years of new production
Revenue resources increasing y-o-y
potential of a Trafigura JV in EV/Renewables, part of their recent $2bn pledge last month along with PPC's separate announcement in this area around the same time
JV talks still on-going for the significant discovery in Paraguay
USA production on-going with a consistent flow of incoming cash to add to Argentina
Less than $4m debt from external suppliers
Lots of new equipment on various sites & upgrades to multiple wells achieving higher output
Paid in USD for all sales
Argentina gov't new appetite to open up more resources
Trafigura, The World Bank and CEO hold +50% of shares
MCAP of £30m, EBITA avg last 2yrs of £13m, not including the non-cash write-downs advantageous in current times.
Revenue has been strong and should have continued this year too, with a video presentation announced - who wants to be on camera delivering bad results when they don't have to?
Expected a drop this morning after the large sells yesterday afternoon. That's aim for you