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Lol Take Aim
You were up late
Narcissist? Moi? Not even sure how to spell it ;-)
Who cares about Colter and parta?
This is all about WN!
"you are saying one is unfairly valued against the other ...But you are seeing it in purely mathematical terms when in fact it actually based on investor sentiment towards that company and supply and demand for the shares which is then constantly on going in other words a ..Real Time Valuation .. that is not set in stone ...Just compare the number of share trades of U J O to Reabold "
Nobody is saying wah wah wah like you.
You are king of the whingers.
Today UJO 91m, RBD 22m, what is your point?
"I am not saying one company is better than the other but just to say what the true reason is for the current market cap off each company"
Really?
BH please don't tell me what I have read or not!
Jesus you are a narcissist!
You do seem to have omitted that UJO have Wressle coming online anytime now.
And Bisca is another flagship operation for UJO.
I hold shares in both RBD and UJO.
Facts are always welcome.
Cherry picking to suit your agenda, not so much.
Just to say I read with interest your posting on the market cap of Reabold as compared to U J O in which you are saying one is unfairly valued against the other ...But you are seeing it in purely mathematical terms when in fact it actually based on investor sentiment towards that company and supply and demand for the shares which is then constantly on going in other words a ..Real Time Valuation .. that is not set in stone ...Just compare the number of share trades of U J O to Reabold ...I am not saying one company is better than the other but just to say what the true reason is for the current market cap off each company ...Rgds Lenin
JackDiamonds,
Thanks for your calcs
"RBD total interest in WN is 56.325%
So each RBD share has a 0.0000000079365% share in WN.
By comparison:
UJO
Shares............................19,815,906,325
Direct Interest...............16.665%
Interest per share..........0.0000000008410
Therefore every RBD share has the equivalent of 9.44 UJO shares in WN.
With UJO at .16, RBD would be 1.51 based on the share of WN alone"
RBD Mcap ~£39M at 0.55p
UJO Mcap ~£31M at 0.16p
Something is not right here
Huge value distortion where one one is valued too low and another one valued too high???
Take Aim
You didn't read the post!
I quote 'Obviously the assets other than WN need to be factored in and also the spare cash after fully funding the respective share of WN.'
I know it's a pain in the behind and both SP's have been hit but the point JD and SiloLondon is making is RBD is roughly 9 times (9.437) better value in respect of WN exposure than UJO.
Let's say UJO's other assets halve that factor. RBD is still 4-5 times better value in respect of WN.
The recent UJO placing was a kick in the teeth for holders there and having suffered that kind of dilution before with other stocks I am extremely sympathetic to UJO holders.
But JD, and Silo, cannot be accused of 'Cherry picking to suit your agenda' at all
IMHO. Cheers BH
JD, whilst your 09:27 post is factual.
You do seem to have omitted that UJO have Wressle coming online anytime now.
And Bisca is another flagship operation for UJO.
I hold shares in both RBD and UJO.
Facts are always welcome.
Cherry picking to suit your agenda, not so much.
Yes Jack, without doubt for anyone who believes in West Newton then Reabold is where it's at.
Much much.....much
Rubey
Interesting numbers from SiloLondon.
The basic comparison is:
RBD
Shares.............................6,746,982,101
RBD has a 59.48% equity stake in Rathlin who is the WN Operator. Rathlin has a 66.67 share of WN licence. So our Indirect interest in WN is 39.66%.
RBD also acquired a Direct Interest of 16.665% via Humber.
RBD total interest in WN is 56.325%
So each RBD share has a 0.0000000079365% share in WN.
By comparison:
UJO
Shares............................19,815,906,325
Direct Interest...............16.665%
Interest per share..........0.0000000008410
Therefore every RBD share has the equivalent of 9.44 UJO shares in WN.
With UJO at .16, RBD would be 1.51 based on the share of WN alone.
Obviously the assets other than WN need to be factored in and also the spare cash after fully funding the respective share of WN.
I therefore think that on a success case RBD SP would move much strong than UJO.
Jack
Very pleased my question was answered, and the answer I would hope for tbh. It seems that while they encounter success they'll have financial backing and will continue to increase the value of the asset, assuming I understand correctly. I know that's an unpopular view with some investors who want a quicker return, which I perfectly understand. It isn't exactly the impression I got when they started with Rathlin and West Newton, but it seems it could be surprisingly big.
imo
And thanks from me too, Manwell02. GP
I was just pointing out that it is not a cash facility. It is an equity raise, and hence dilutive, rather than leverage, like borrowing.
Thanks Manwell. That was quick!
They said today some time GP. I can't see them yet.
Hi there Rubey. Do you know if, and if so where, RBD have posted their responses to the shareholders' questions that were sent for the AGM. Just for the record, I asked them which WN well had a Cadeby core, but I'm not necessarily expecting an answer! All the best, GP.
I know what it is Genghis, thanks anyway. They refer to it as a discretionary cash facility - sorry if that wording's not acceptable for you. Is that all you've got to worry about?
Rubey
You refer to the £5m "cash facility" as if it were akin to a bank overdraft.
It is not. It is a fast track equity raising facility.
Thanks GP. They do seem to throwing all the best equipment at the B1 drill, so maybe it will be more than I thought? Rathlin are holding RBD's share of Rathlin's B2 drill costs, which don't seem to be required any time soon, so I'm sure there is cash about if required.
It's a shame SiloLondon doesn't still post here. I saw a very interesting tweet by him this morning. Apparently, if I understood correctly every £1k invested in RBD gives 0.0023% of West Newton, 4.47 times the amount of West Newton by investing £1k in UJO (0.0005%).
Thanks GreyPanther
Hi Rubey and Alexios. On past form I believe the WN wells have been more expensive than usual since some have been deviated wells, and I believe both have been cored. So my B-1 cost estimate is a bit higher than £3.5 million. In fact, I'd say it will be closer to £5.5 million for a dry hole, plus a further £2.0 million for a test programme, say £7.5 million for a successful well. If that's the case, RBD will have to stump up something close to £1.25 million for the 16.665% interest they recently bought from Humber. However, I'd hope that Rathlin are still sitting on a lot of the cash that RBD invested in them to acquire their approx. 59% holding. So I'm hoping that we won't have to concern ourselves with Rathlin's much bigger share of the WN costs.
Thanks Rubey
You sure B1 cost £3.5M??
Alexios.
The well will cost £3.5m in total? RBD have clearly already paid their portion of Rathlin's share, as detailed. That only leaves RBD's direct interest - £600k? worst case. Hardly the majority of £5.4m?
Thank you Rubey
Where does it actually say that current cash of £5.4M is not going towards B1 well costs and A2 EWT and B1 flowtest???
Does anyone know???