Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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It would look as if LOGP are a safer bet short term for increases with PVR going to head to 3p in the near future.
All I can say is 'thank God' we are back on track in terms of discussions that are to the point.
The sums of money ain't huge but there's something about this that is attractive. The numero uno is that TOR is no longer involved and Linn and Plunkett seem to be switched on albeit maybe a bit conservative. If you think about it Linn has only been involved for a short time and already there is a positive message and supporting cash.
This should also sort out LOGP.
Agreed the amounts of money are a joke ..... no real underlying belief .... BUT .... personally I have thrown enough at this dog .... even with dilutions if Broe is the real deal without knowing at all but I would expect a very very significant increase ... and thus should recoup part of investment and of it is not I have lost enough .... shady projects attract shady people .... but the new CEO doesn t come across as shady ... ... hard to know ..
Actually, I can't believe how anyone could take it seriously without questioning it very hard especially with the immense lack of transparency and all the previous schenanigans. More transparency and details would be a start. In any case £200K certainly adds no credibility. It's a piffling amout of cash even for AIM. That said, you never know, but I'll be damned if I'm not going to be mega cautious here.
I wonder whether anyone actually believes what you've written, Phoebus: 'to lure mug punters'.
You're seriously suggesting that SpotOn have invested £300,000 and will invest a further £200,000, at a higher price, as part of some kind of deception?
Used the Danish coins once. Thankfully didn't drop any on my foot. Quite weighty.
It looks as though Corona could go the same way as Adolf - a name that, if it hadn't lost its popularity in German-speaking countries by the 50s, was certainly dealt a death blow by the Eichmann Trial in the 60s.
I wonder whether this has any implications for SpotOn, as its currency is the Norwegian Krone (Corona).
They've invested £300K with 'a further investment of £200K within six weeks ... at the prevailing market price.' Wow! £200K! What an impressive sum to lure mug punters. I'm sure several on this forum will have had way more than that invested in Barryroe at one time or another. It's pathetic.
I'll try Nandos then. Eveyone one likes Mexican. Mmmm!
Why would a Norwegian company invest an initial £500,000 in PVR if their purpose is to waste everyone's time and
give Phoebus the satisfaction of dismissing it as another APEC?
It isn't believable.
Phoebus' post is just typical of posts on LSE AIM - an insistence that the future of a company will be the same as its past.
It looks like COSL gets everywhere. We Have to wait until Marchy gives us his views in his blog regarding the fund raising. Probably tomorrow.
One thing is for sure, if Providence were only telling a "good story" to raise the funds they have certainly succeeded in that regard. Obviously the fund raising was discussed with all the major shareholders since it all passed yesterday. There is no way the institutions could come to decisions that quickly. On that basis the EGM is a formality.
So what do the institutions know about SpotOn that we do not know? I cannot see them investing good money after bad if SpotOn is no more that SpotOff.
Phoebus, your consortium is doomed to fail as nobody will ever buy a Chinese meal again as the Chow Mein will possibly contain dog, cat, rat, bat sourced from the Wutan wet market.
Note: "So what kind of animals were being slaughtered and consumed, you ask? Well, the list of ‘meats’ available for sale at the Wuhan wet market include dogs, koalas, wolf cubs, snakes, Chinese porcupines, crocodiles, rats, and even reptiles like the giant salamander!" Not only were they selling those but they were also selling endangered pangolins.
https://en.wikipedia.org/wiki/Pangolin
The Chinese think that "pangolin scales" and "bear bile" will cure coronavirus, the Indians think it is "cows" milk", half of England probably think it is "Jeremy Corbin's p*ss". All failures, which is why half the world is dying. I wonder what the Irish think? Probably a relic of St. Patrick if only they could find one or perhaps a leprechaun at the end of a rainbow.
After all, the word Chow means, a dog of a sturdy Chinese breed with a broad muzzle, a tail curled over the back, a bluish-black tongue, and typically a dense thick coat."
Now get your teeth into that and whisper coronavirus.
I am very disappointed that Mexico has stopped brewing Corona beer as it is actually one of my favourites. Now when anybody thinks of "Corona" which means "crown" they instinctively think of coronavirus.
Found it. https://mfdevco.com/ 'We work closely with our Consortium members to develop, deliver and operate projects to deliver economic and investable developments. Our consortium: AGR, Aibel, Aker Solutions, Arup, Braemar ACM Shipbroking, COSL, Frames, Kongsberg, RMRI Consulting.' This all sounds very familiar. They were supposed to be working on the Helvick discovery with PVR and LOGP if I remember rightly. Didn't get very far with that have they.
Perhaps PVR and LOGP would be interested in doing a farmout with a potential new consortium I've been putting together. In just the last few weeks I've already set up relationships with several service providers that have indicated a willingness to engage in the provision of services. They include Tesco, Morrisons, Waitrose and Iceland. Maybe if I can get Wing Yip's on board the Chinese angle might really get punters excited and help seal the deal.
Sounds like a rehash of the MDEVCo BS.
'You can always buy more on the open market '
That's what some people have been doing, lifting the offer price to fifty percent above the placing price.
There is a hugely positive piece in The Currency news site today about SpotOn. They have an introductory offer of 5 euro for first month. It's well worth it for the amount of excellent material especially given the current lock down. Some information confirmed already but
Model is to form consortium of service companies to target the UK and Ireland area to share risk.
Ireland and north sea as familiar to them and outside of Norway so they can take advantage of key export credit facilities through Export Credit Norway. Also rely on investment through Pareto Securities when required. Backers will be revealed in April.
BullsEye10 >>> "Then it's a day light robbery. How could PI's cant able to participate and thrown out to bin. Can't PIs challenge this? Im really concerned with the current state of affairs as I will have significant hit with this move."
The significant hit happened with all PVR's previous disasters. The chickens are coming home to roost. But yes, you can challenge it by voting against the new issue at the EGM. But you will lose because, as annoying as it is, this is actually your BEST option as otherwise your shares are completely worthless. Yes, shareholders are taking a one third dilution for a paltry $3m and this will increase to a 50% dilution if the warrants are exercised. The alternative is annihilation.
The people who make the big money will always be the big boys who jump in last. With warrants, SpotOn Energy can get 5% of the company for just a couple of million quid. That could eventually turn into 5% of $20 bn worth of oil. Us private investors will get the scraps if we're lucky. But scraps are better than oblivion.
Bullseye...You can always buy more on the open market if you are that committed to it.
EAS10. Then it's a day light robbery. How could PI's cant able to participate and thrown out to bin. Can't PIs challenge this? Im really concerned with the current state of affairs as I will have significant hit with this move.
Bullseye. You can't participate unfortunately. Large shareholders only. This is where PIs get diluted to oblivion.
Thank you Manyana, how small Investors like us participate in existing fund raise so we will be eligible for warrants? Do I need to reach my stock broker or will the company request existing share holders. How could we participate.
The warrants have been given so that extra funding can be raised through the warrants if it is needed.
The issuance of the 177,973,004 at 1.5p raises £2.7m and if the 117,973,004 are exercised at 3p that will raise £5.4m and if they exercise the 9p warrants that will raise another £16.2m.
The two warrants are obviously "hope" shares; hope that things go in the right direction and act as a sop to the institutional investors as they will be on a killing if the shares exceed 3p and subsequently 9p. So who would not buy this deal?
But, thanks to Tony O'Reilly, who wasted hundreds of millions of dollars chasing rainbows, this is a very sensible approach for if the shares rise enough to justify the warrants we will all benefit given the current share price and the shares will only really rise if this deal with SpotOn Energy succeeds.
Why company has to give additional Warrants to Placees and Subscribers, in additional to shares at 1.5p. Can someone throw some light on this.
The 3p Warrants will entitle holders to be able to subscribe for one new Ordinary Share for each Warrant held
at an exercise price of £0.03 per Ordinary Share at any time for a period of 12 months following Admission of
the New Ordinary Shares.
The 9p Warrants will entitle holders to be able to subscribe for one new Ordinary Share for each Warrant held
at an exercise price of £0.09 per Ordinary Share at any time for a period of 24 months following Admission of
the New Ordinary Shares.
Does ordinary shareholders able to participate in the fundraising? They are raising 177,973,004 shares with 1.5p with additional warrants for 3p and 9p. Existing ordinary shareholders will be hit massively and looks like they can't able to participate; could someone provide more Info on this please.