Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sheesh! Wish i had bought today instead of yesterday at 80p but never mind the outcome will be the same in the long term. I assumed the price would rise today with the news of the US listing and no dilution of shares. Maybe we have to wait patiently until the market actually digests and gets wind of this move. Sit on those hands and be patient......Millionaires aren't made in a day!!
Just watch, stop being foolish
Is your handle ironic L2analyst? Or is that ANAL list? Every post is a blatant ramp with no analysis at all. One for the watching!
With you there Trek.
Same to you.
Atb
Good debate Fukuro’
So a ‘starting pot’ imminently.
Some decent assays soon will ‘drive’ that demand on top of the $bn in ground resource at 1%.
The more data we get better. I have averaged up here significantly (for me) so I’m now under water! Lol!
Still I now have many more shares and will grab any silly pull backs from here but that’s me done. May derisk some later but not for a long while as steady newsflow due and charts are all bullish.
Good luck with your investments
Trek
Agreed it's not a confirmed figure and 30% could end up being any figure.
30% certainly was higher than I'd envisaged so to hear those brush stroke % from the company (albeit can clearly be more or less) they (pxc) obviously expect strong demand and I'd assume this is based on their engagements to date.
In terms of >> So it’s based on demand. Results drive demand.<<
To a degree that's true but BNY will have to have an initial float of ADRs so will need to buy from here, then increase if/as necessary (as you say based on demand).
They will likely have a view of what the order book will look like for the ADRs for initial volumes.
While results will clearly be an influencer (arguably an important one) on overall demand it's sadly not that simple to say results equal demand.
America isn't particularly a results driven market in the junior category. As you'll know from ARB etc. It's herd / sentiment / expectation mentality based in the OTC markets and sadly not fundamentally or results driven.
Largely agree though I've no expectation of 30%, or any %.
Actually the key factor here is no new shares feeding the liquidity into the OTC markets in America. It's all new demand, from existing share issuance.
I certainly agree with the II money. That will come with time and will likely be results based and need a higher market cap to be within their parameters.
Exciting times. I've grounded expectations here but subject to ADR gaining requisite approvals; the pressure caused by any extra demand from a new market, on that side of the pond where they are operating, should help create a steady growth from here.
Atb.
Nice little shake
The 30% is just a number could be more could be less. From the RNS...
“ No new Ordinary Shares will be issued to establish the Program, with ADRs being created on demand via the acquisition and deposit of Ordinary Shares.”
So it’s based on demand. Results drive demand.
OTC trading is common and used by lots of companies, ARB & He1 that I hold use it. They are not necessarily blue chips. Being critical that is a bit rampy albeit true that many big companies use them. If we get anywhere near 30% I would expect a full US listing.
Given the near term date (September) and now the deal is signed I wouldn’t be surprised if Mellor have clients on their books that are interested. Well they wouldn’t have taken us on else. So we may see a few volume spikes as they forward sell on PXC stock in the US which means buying here.
One would expect anyone buying on OTC, given the extra costs and less liquidity would be sticky hands so that also bodes well for the SP.
Just a shame it’s ostensibly another nominee account. We could benefit from some serious ii money. That imo will come with results.
Very good prospects here and a pretty clear line of sight to production. Most unusual.
Here is a short vid on OTC that may be of use.
https://youtu.be/tP7Usj_NsLo
Usual caveats
Trek
Yep exactly RightOn.
I wasn't anticipating 30% shares on the OTCQX but heck If they are thinking those types of volumes then yes, the squeeze on stock given the float and low number of shares in the domestic AIM market will most certainly lift the share price.
Especially if results also increase demand in the AIM market first.
They've actually probably created the polar opposite of the dilution normally typical of AIM. Literally the liquidity will have an issue with undersupply, not oversupply to the demand. Only means one thing.
Up we will go.
Atb
Sorry, this may come up as double posted, as LSE is playing up a little for me
To add a little more detail, I had a quick call to one of the directors to understand what this means for the company, and he said:
"the company is quite honoured to have BNY Mellon offering to sponsor an ADR program for us. They are the market leaders and operate over 700 DR programs for some of the world’s biggest non-US companies. This is big company stuff and presumably shows that they believe that they can make decent money from this, which in turn means the program ought to be successful. It perhaps would not be unreasonable to assume that within 12 months 30% of our shares might trade as ADRs on OTCQX. If that is the case, then 30% of the company is going to be bought up from shares trading on AIM. Impact on share price? Who knows? Positive I would think."
That sounds fantastic news for us holders, doesn’t it. And with more news to come on the EM surveys, with the drilling at Red Star, Navarre Creek and the Empire deep sulphides this share is looking very good to continue to ride high.