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.
Wn doesn't bother in delays. Big investors were happy to invest. I just wish we could get some updates on parta and cali. These two projects have been very quiet.
WN is a huge discovery. There are technical, financial and other issues to sort. There are multiple partners who all need to be aligned. And as plans change then there are regulators and locals to keep onside.
A few on here are being unreasonably impatient.
Well, according to RBD's project Wallace plan the EWT is due q4 with WNB1 late q1 20. However just a matter of a few weeks later the Rathlin liason committee group are told that those time frames are unlikely. Conflicting info from partners which is very annoying to me.
Also just like many others I'm disappointed that RBD are not keeping us up to date & whilst optimistic I'm concerned at their willingness to throw the kitchen sink at the project before the EWT is done.
It probably doesn't matter to the share price no, but it does matter to those individual PIs and they are mostly the people who post here!
I'm not bothered about moaning or others selling I'm just here to get others' thoughts and reflections in mine. Such that my decision making is improved. Now do tell, what is the next move then that we're waiting for? Is it EWT at WN in December?
Iamnotananalyst, I really don’t think it matters that few PIs Sell. Who cares? Not me. This has gone further than a little spoofy Oiler driven by prayers and vain hope and sentiment. There is a world class discovery of epic proportions at West Newton. I’ve chucked my buttons in with the 24,000,000 others recently added and that’s where my buttons are staying. Moaning on here so that Bert from Barnsley takes a few buttons out of the pot is not going to make one bit of difference. I could sell all my £250k holding here next week and I doubt the share price would even move. The market is sat on hands waiting for the next move. So am I. GLA.
PDMSP,
" Worried? Off ya pop."
There's a difference between worry and panic. I think I'll hang in here a bit longer, if it's OK with you.
PDMS, we know we can sell!
We're just saying the perceived risk has increased, based on management performance and poor communication.
S&S have done really well at getting hold of some assets and increasing their potential. However, thus far they are yet to implement part 2 of their plan and it's not yet clear when and how we'll get there with WN and what it'll look like in the end game. That's the asset that's most advanced and successful and valuable in the portfolio, at least according to S&S. Although, that's the one we've increased our proportion of yet the sp has dropped 1/3...so there is clear evidence that shareholders are worried and quite a few points as to why that might be the case.
Now where we might have stayed longer in this share we might reduce our holdings sooner (maybe after the next WN good news, who knows).
Are the fund managers of the city pension funds who put £24,000,000 in here at 0.9 wracked with worry that they will imminently lose their capital? Yes or no. Your choice. Don’t like it? Worried? Off ya pop.
Adoubleuk,
Thanks for reply
bladehater,
A 'big rig' won't be required for WN. Just a 500 hp (or even smaller) 'workover' rig to pull the existing tubing string and re-run with an ESP completion. But I haven't any knowledge about rig availability in the UK. And yet again, no mention has been made about waiting for a rig being a delay cause.
" Imo, Rathlin realised how good the well is and cancelled this part of the deal as they get their £16m for the drill anyway."
For lack of evidence, that's as good a speculation as any other. Of course, it highlights another little niggling detail about the whole setup. Rathlin being a private company, and thus not subject to stockmarket regulations such as reporting via RNS and so on, we don't know much about their decision-making, nor details or their shareholder base. I can't help wondering if the share-swap might not have been rather a case of wishful thinking on S & S's part, with them being over-optimistic as to the outcome. Without news as to how (or if) negotiations are progressing, I suppose we can only make uninformed guesses about the issue for now.
Regarding delays. If they need a big rig to carry out testing, the one UKOG are using will be available in about a week, so perhaps they are waiting for it's availability.
Then the botched sale. Imo, Rathlin realised how good the well is and cancelled this part of the deal as they get their £16m for the drill anyway.
glalth
Artyth. You mention massive successes , sorry, but i cannot see any.----All i see at the moment is lack of information from management, and lack of shareholder value and lack of progress.----I am a shareholder here,and have been for some time,and as you can probably tell i expected better from S@S.---Lets have some information.
Can’t help but look at RBD, now ,and think Really Balls Deep. But I am that too:) .
RBD could have funded their % share of Rathin, keeping the % with far less dilution that will effect the SP for the next 6 months. Also is it wise to take on a larger share without the EWT, we've seen over at ECO that initial OIP numbers are meaningless without proper testing. I really like the WN asset but I do have concerns that RBD are ramping the best case scenario and have no plan b if it isn't. I'll be happier when they actually give timelines for the next 6 months and confirm the EWT.
Sankeys, someone had to put the money up for WN to progress. If not us then we would have been diluted, without the control we now have.
Some good conversation here, unlike others I have been concerned about the BOD here for a while, style over substance. I decided to sell after the volumetric RNS as I don't personally think this deal has been good for shareholders, the SP would have been over 2P now on current news and original shares in issue. I will buy back in for the EWT but I don't see it happening this year, and there is a niggle that it might not happen at all, does it really take this long ?
BD = balls deep.
Correction. Linearly is the wrong word . I feel progress in projects seem to be drop by the wayside, whilst concentrating on the current , flavour of the month.
I agree with your post, novykluk.
I wonder if we might be hearing soon of an addition to the management.
S and S pride themselves of the leanness of their team, but due to their massive successes, the consequential workload that success brings has increased considerably.
Projects seem to be progressing very linearly, with a fair bit of ‘manyana’ thrown in on the news offered.
Lack of ‘ up front’ information is causing concerns with pi’s. More precise details on the current operational positions of all the projects and the reasons for ever slipping deadlines, rather than vague PR interviews and announcements would help to ease concerns.
This is not a de ramp. I have great faith in this Company and am in BD, financially.
adoubleuk
I did not think your post was de-ramping at all! You raise concerns many genuine holders will have, particularly in respect of this current news vacuum! You have previously posted some very helpful stuff. So I understand you are a serious holder.
But to answer two of your points;
* It was my non expert opinion that if the Raithlin share swap did not proceed, then those additional shares would just not be issued. I believe that's been quite professionally reported earlier this evening by JackDiamonds.
* Now why didn't S & S wait for the EWT results, and the possibility our share price would have been higher, before going for a Placing? It seems to me the answer is one of straight forward economics.
Logically if the results of a favourable EWT were issued, our price would be higher and we would be diluted less. Agreed! But I believe that S & S judged that when those numbers were confirmed absolutely, the cost of acquiring our additional holding in Raithlin, would have far exceeded the cost of the additional dilution.
I think my view here is kind of supported by the fact that the Raithlin shareholders (who must have been in dialogue with RBD before the Placing announcement) then decided what ever price was being proposed for their equity, wasn't enough. That in my view was likely when the WN numbers were emerging (from progressive analysis) and they realised just how big WN is.
So to my simple mind, the choice was wait for the EWT results and have a higher share price, but pay even more for the Rathlin shares.
Like you and most other LTH's though, I am very disappointed by the total lack of information now. Unlike you though (fortunately for me), I'm not yet feeling "there's a rat"!! I hope we get a news update soon though, before I start getting nervous! At this point in time I still fully trust S & S! But hope I'm not being naive!!
GLTALTH's
NK
One would logically have thought that upon release of the EWT results the share price would increase. pr
When we find out who actually bought into the raise we might be able to speculate a bit more about future raises. It's interesting to think, considering volume and sentiment since, who would have wanted such a large chunk of shares. Was it IIs who already held or was it new interest? I wonder if/when we'll find out...shouldn't really be private information as it was a deal with the company, not a trade between shareholders really.
Jack, imv s and s are not interested in value, their priority is growing a company at our expense . They will raise again if/when this comes good so that they can eventually head up a massive company with massive numvbers of shares , each worth less than today's. I hope i am worng as i want out at breakeven.
Can't belive with so much going on.. The sp is in decline. Another shambolic management.. With the resources available to them.. The sp should be at least double.. But something / someone is holding this sp back. Too many leaks... Needs to be reported....
One of the problems here is that nothing seems to be progressing. Most people are unsure about what is going on,including me, its not good enough. Why does the company not keep its shareholders informed, i like Aduk i am starting to smell a rat, also,i want to know what happened to the EWT . One thing shareholders hate is lack of information ,and left wondering about the reasons why. Would be nice to know if any thing is happening on site.----Time S&S gave us some information.
Thanks JD for digging out the table.
What I find even more interesting is that the costs don't seem to cover the EWT of the drilled well. So surely the question to S&S should be - why not complete the EWT and increase value (so) further prior to the raise. What was the advantage of doing the raise before? I can only see that it diluted the incumbent shareholders, who already believed in the assets' value, more than was necessary. Unless they were worried that the first EWT would turn out to seem like bad news and they have confidence the new wells will make the asset look more valuable (and without the raise they'd never have been drilled).