Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Well I see all the knowledge owners who set about the so called derampers get this spot on .... NOT !!!
How many times did moon tell you all they had miscalculated the required funds ..
One day you'll listen ...
290 was your figure not mine. I disputed it at the time and was met with silence. Upgrading equipment is clearly expensive, perhaps more so than the board believed and adding anything below 25-30 million to the balance sheet would be facile.
They still not moved to cheaper electronic that been pipeline for years
U think u going to get 290 million now lol. No but 50 million now is okay for few things. Ore sorter one but still so many problems left that need upgrading or switching
Electronic upgrade?
No Moon, you very specifically DIDN'T say they need to spend 50 million. You said 290 million and when I asked you to break that down for us there was, as ever, no reply.
Think of it like this c1 cost would be about 4 something why inflation petrol wages so on. Acutally yes we running at loss for year or so. But it’s not bad once the package come though
My point is they need 50 million as I said so many time over and over. Ore sorter asap electronic upgrade asap move mill need to be down now
Last half year financials stated Direct cash costs net of by-product credits ('C1 costs') for the period were $3.01 per pound of saleable copper. This then went to $4.26 in the annual accounts.
Increases in costs may have this higher now or efficiencies may have it lower but my point is at this cost it's loss leading to take it out.
They can get this cost down with capex spending while improving grade and efficiency but the big question is where are the costs now, how much money do they need, by when and will they be able to raise it without the need to issue more shares.
I think they may need to go to equity markets for some and the amount they need may be significant. Until then RMM may be mining at a loss but we have no idea. Need more detail.
Quite so, Fuku. The RNS revealed two things: an immediate financial issue and that costs are much higher than speculated on this board. Both will need resolving and we will find out the plan for doing that in the next couple of weeks
If it was a way of justifying just getting an ore sorter earlier it'd be like writing a death threat as a love letter tbh.
No ones knows didly until we have more financial information from the company. For example (illustration only / made up mums)... if it costs $3.80 to mine and we can sell at $3.50 then the fact we have billions in copper underground means we can extract it efficiently as a loss.
The market needs (and has needed for some time) to be advised what the costs are, and
what the operational improvements mean to profit.
All that can be done is wait for the financials. Then use that to determine shareprice forecasts etc
Comes on guys,
I don’t know the reason for the RNS but the most likely which have been canvassed are, in my view:
1. there was a failed placing and they needed to release the inside info given to those who were canvassed
2. the discovery that there was a financial problem was deemed to be material information (likely to affect share price) etc and therefore had to be released as soon as possible.
I don’t buy any of the (positive or negative) theories that there was some scheme to achieve x, y or z.
Personally I think 2 above is most likely. It’s the simplest. Occam’s razor
I’m hoping you’re right Zappyman. If that’s case why wouldn’t they just be clear and transparent and say we’ve brought forward plans to mitigate risk during this volatile market.
Really simple statement would not have decimated the share price. Instead we’re all left wondering what the hell happened on bloodbath Friday
Did tell u all we need cut cost asap or we are bankrupt simple as that
I personally think the main reason for that rns was to justify getting the ore sorter earlier than planned. When it is complete, it will be extra revenue and also saving money from transportational costs. No brained really if they do get the extra funding, we know there is enough copper in the ground to support it.
Exactly that's what I am trying to say ...got 30 million for 5 years @15% interest in which we have to pay 714000 per month .install ore sorter .as you said nonsense they revenue will increase to 1.7 million even in current cu price .10 million for ore sorter and rest 20 they can keep paying creditors ,debt and keep some for working capital ...by mean time copper will boom and they don't have to dilute shareholders. To find a loan @15% for 30 million for a company which got billon pound copper in underground is not difficult specially when it get 5.5 million revenue from copper even in current cu price .big fishes know about the potential of copper .CFO is known as very efficient in mining industry and she can easily manage this ..just need to thing as simple as that..
Nonsense I had £84k, but luckily sold out and hold £15k now.
I keep saying they will why I am doubling down. Sometime good have ….. never sell out of ufo prem so on to rmm. This is best time ever rmm best not financial advise
So you still got £ 69 k worth of shares @ 29.6p .God I am not the only one with 30p average holding 600k+ shares .they better give us another rns about new debt term been arrange from new gen for longer term and ore sorter is going to installed soon .if ore sorter can produce 30% more then 210 ton extra per month which is 1.7 million. That's enough for repay the loan .
As a holder for over a year I am rather disappointed by the last RNA, I agree with some others that it is on par with one of the worst news announcements Ive seen. That daid and rereading it again it is quite fair and at least they have let us know the financial realities. What bothered me somewhat is the upbeat tone of the previous announcement, to release that then this one left a bitter taste, i would have prefered they combined them, the situation likely was known around that time.
Final thoughts- I have no issue with people changing their position , that seems common sense to me based on the known facts at the time. Anyway good luck all!
3 weeks ago I had £84k here... at an average of 29.6p... I was hopeful, but as the war/inflation/recession occurred I just felt 'worried' so sold out to £15k. So I was more diversified. Luck... that was all... I had high hopes for Rambler. Now, I still have a decent chunk in the game, but it shows how fast things can change. I agree with everyone, a bad RNS... just after Queen died, as if to 'hide bad news'. I had thought BOD was on the up.
He could of written should of but he whether he would of might of been of greater concern off-topic.
johnny
they've been drip feeding the placings,since friday...on those whopping volumes
Write what you will but please stop putting 'should of', it's 'should have'. Yes, I am that pedantic.
well, until the placing figures arrive...