Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Well, at the risk of being called a deramper, if WEI holds 19.3%, SuperRoty may have a point.
My modest stake here was bough at the equivalent of 399p, so I have no incentive to deramp. Except that if it really does go sub £1, it will be a great top up opportunity for those that can.
In the end, the investment case is here, but it could take a longish while to get out from under Woodford's cloud, imho.
Three months until they start the Woodford wind up. They state that sales will be gradual (they're not fools). A lot can happen in three months.
Equity Income 6,141,257 (19.29%) Patient Capital Trust 4,362,900 (13.71%) according to Bloomberg
Hold before you buy. There will be a lot of shares released into the market soon. This could go sub £1 in the blink of an eye.
From elsewhere
WPCT owns 4.4m shares (13.7%) and Equity Income has 6.1m (19.3%)
sky news, Woodford fired from his own equity, representative about to make comments on sky news
1-2% in WEI and 30 0dd % in WPCT (has been discussed a few times but nae bothe!)
Sorry if this has already been discussed, how many RENE shares does the income hold? Are most in his Patient trust ??
I topped up too. Seems daft not to. It's not as if this sell off has anything to do with the company, just an investor.
Just bought another £2k and had to pat 1.30 this time , so moving in the right direction already.
I think there is some panic selling but not from me , This company has great prospects on 2 fronts. expecting a recovery later today.
Yes that's true...the difference between the 2 funds however is that you can sell your holding in Patient Capital today...whereas you couldn't sell your holding in WEI...so they are 2 totally different funds. WPCT would only need to sell if the NAV of the fund fell to zero (even then I'm not sure it would have to sell) or it broke its leverage covenants (more likely). Its very apparent that having a huge holder has its benefits (stability in good times etc) but also its major negatives if / when the **** hits the fan. I would argue that this remains a 2-4 year story during which time we will have more deals done a la Fosun. What the company is doing and achieving IMO will be too attractive to big US pharma to ignore at some stage -especially as the results are top of the class. That doesn't stop the haemorraging of my portfolio, just means I have to sit on it for that much longer...
The trouble is where the Income Fund goes today, Patient capital may well go tomorrow. How the hell you wing up a fund which has deliberately invested in illiquid, long term companies I don't know, but it seems to me Woodford's rep is jusy so shot that his funds cannot survive in their current form. w could be caught in this mess for a long time yet.
All good questions DTR - Equity income owned a very small amount of Rene (cos lets be honest there is no income from rene) so i think c 1-2%. Patient Capital is the main holder c30%. Patient Capital has its problems, being over-leveraged at the moment, but its WEI that is being closed. 1-2% isn't very much here, but it won't stop the shorters having a go and spreading gossip that there is 30% for sale.
how does this work then? Does the fund basically forced to sell all their shares at current market price in order release funds back to investors?
Guessing that could have a fairly serious impact on those companies whose shares are being sold?
Is it the same fund that is currently invested in RENE or one of his other ones?