Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Cap'n, but this is the feature of this share, rinse and repeat, rinse and repeat, rinse.......
CapSlapper: "What you expect when Tragic keeps posting the same old same old every day?"
What do you expect whan the BOD here keep doing the same thing year in year out?
I predict mass confetti and yet another share consolidation just as RGM has done.
Let's not forget that RRR annouced before Christmas that they had gotten back into bed with old pals Cornhill Capital (now renamed as Pello). Cornhill were fined over £200k by the FCA for forward selling of a placing for New World Oil.
The future here is utterly predictable and it's neither bright nor orange imo.
The falling SP and sells suggest to me that those in the know are bailing before the hammer falls. I shall accordingly stay very well clear.
DYOR
Between 2012 and 2017 this BOD raised over £15m cash by way of various dilutive confetti share issues
In the same period they expended over £11m just on Admin and Other Expenses.
All in the Annual Reports. What a total joke.
Amounts frittered away just on Admin Expenses through the years.
2012 - Admin £2,275,786
2013 - Admin £4,751,948
2014 - Admin £1,563,808
2015 - Admin £1,334,404
2016 - Admin £758,351
2017 - Admin £644,688
2018 - Admin £849,518
2019 - Admin £591,777
DYOR
Helpful - "Don't forget that RRR has liquid holdings in RGM, POW, JMS "
lmao !
Liquid holdings for the BOD you mean. Not so long ago 1.5m "crown jewel" Jupiter shares were pawned off by this BOD probably raising around £300k. More latterly they pawned off about half of the RGM holdings.
Now where did all the cash go . . . .. .?
Any shareholder value added? Errr none that I can see. In the absence of any RNS's to state clearly why the money was raised people have no choice but to assume it was for the usual, director salaries and preposterous expenses.
That's where the lion's share of any money here goes as you well know. Only someone like yourself who has his cash locked-in with CLNs that are now rolling on for a 3rd year instead of being paid off could possibly try to make out that the BODs stripping of holdings and/or assets for salaries and expenses is a good thing. What a total joke ! DYOR
Don't forget that RRR has liquid holdings in RGM, POW, JMS and so on.
Both RGM and POW should be coming out with news shortly and JMS should be declaring its dividend shortly. I expect both RGM and POW to be higher in the near term
Well yes, back in November when there was the distinct possibility of needing to pay off the CLNs. As that can has now been kicked down the road, the immediate need for a placing has too, but it looks very much like delaying the inevitable.
The long standing MO of this BOD is so tired and old and predictable now it has just become an embarrassment TBH and the perpetual accompaniment of that MO by pathetic rampers and pump and dumpers equally so. It's now become just one big joke imo. Not a funny joke, just a pathetic one.
The BOD don't even respect the shareholders enough to bother RNSing key events and transactions, it has become that blatant and farcical.
Loans and transactions with Amulet Diamonds were not RNS'd
A £1.1m loan to Steelmin was not RNS'd
Steelmin going into Administration was not RNS'd
The sale of 1.5m "crown jewel" Jupiter shares were not specifically RNS'd nor the purpose of the cash raised
and so on. Just an absolute joke. I'd consider myself a complete fool to buy shares here now because I would be investing totally blind not knowing what other loans or key events had taken place that they weren't RNSing.
The BOD have shown themselves to be completely arrogant and untrustworthy. They have to go simple as.
The Annual Report recently published (to June) stated:
Cash in the back - just £64k
Total Current Liabilities - £2.8m
Admin Expenses - £591k
Cashless, significant liabilities , and still frittering preposterous amounts of cash on admin and other expenses.
It is imo the very definition of an AIM lifestyle company, there for the personal enrichment of the BOD who will simply keep issuing more and more shares at discount while ever the feeding trough remains.
Confetti will be coming of that I have no doubts at all. Helpful will likely be participating to try and claw some of his cash back. I would guess any placing will be done at around 0.20p to 0.25p and the large round sells we've seen in the past week or so, for me personally simply underpin my thoughts. Believe what you will of course and DYOR.
Well if you keep saying it long enough eventually you will be right. How long have you been predicting a placing now? Weren't you predicting one back in November and it is now nearly March?
How predictable ! A proactive investor plug now . . lol Screams of a placing . . . . . At what price is the only question ??? Well at best it gonna be mid 0.2`s !!!!
You need to calm down
The company has liquid assets, it has cashflow and it has illiquid assets as well. The amount to be spent at Luanshimba is de minimis, of the order of $30,000/$50,000. I expect a work programme on Musonoi to finish off the JORC in due course: again of the order of $30,000.
Both of the above are what are called value inflection points (look them up). That means that the assets are worth more.
Buuuuttt.. I am expecting that the company will eventually deal with Migori and execute on the JV it has previously promised.
The only way to make progress is spend on the assets. I don't see it being an issue. Power Metals looks to be making progress and should provide a decent upside in the very near future.
DYOR
just another in a long line of excuses/rns's to justify a six figure salary. Has AB EVER done anything that has actually added value. There is the Kenyan goldmine that has been over 7 years and jack all has been done. El limon was sold for peanuts as in their own words they were not capable of running it. Jupiter is just a share holding which any common investor can buy into. Greenland was just all smoke and mirrors before being put into a medieval prison. Ivory Coast project is going the same way as the Kenyan project and now its time to pretend that AB is busy developing the DR Congo mine when in reality he starts each day at 11am by spending a couple of hours on social media. If he actually did any work then the sp would be multiples of what it is now.
How are RRR going to pay for any exploration work ? Especially if they want to fast track to drilling ! It is either mass dilution or selling off of the Jupiter shares - But hey don't forget we still need to pay the super inflated wage bill to keep certain snouts in the troughs. You need to face facts Helpful, your CLN`s are gone and by the time you finally get the balls to do something about it there will not be enough value in the company to pay them back. Can imagine Jupiter shares being sold, big investment in something like Elephant oil or Amulet diamonds - Mr Bell swanning off in to the sunshine and RRR going bust. Hey that's just my thoughts so each to their own !
All is a big word.
Migori was fine until the Kenyans tried to nick it off them. Jupiter Mines was fine. El Limon was fine, payments under the royalty will now accelerate, it did well when it sold half the royalty on Mount Ida. In my humble opinion, we have got really good licenses in DRC: we just need to progress them now. The work that is required is clear and it is not expensive. The big step forward remains getting the Migori licenses back.
I know it is pointless to say this to you but if you read the RNS there is some important information in there.
The presence of Bismuth is an indicator for copper mineralisation. But.... this bit matters..
Given the risk of artisanal intrusion in the event of significant copper mineralisation being encountered in pits, Red Rock will also seek quotes for an immediate move to a third phase of exploration in the case of exploration success. This would be likely to be RC drilling, and provisional planning for such drilling assumes 4 fences at 200m intervals in area C, with 2-4 100m inclined holes, and 2 lines in each of areas A and B, for a total of 2,500m drilled.
Do some volumetric calculations on how much copper is there is we have 5% copper mineralisation. But the RNS is indicating much higher cobalt than would be usual. At Musonoi it looks like 5% copper and 0.9% cobalt ie., 80% copper and 20% cobalt. At Luanshimba it looks like it might be 55% copper and 45% cobalt (that is the proportions) not the level of mineralisation.
Anyway we will see soon enough. The work is likely to take maybe 6/8 weeks and then we should know something.
PS if you do some reading up on the history of Musonoi, you will see that in the past they extracted Palladium as well as copper and cobalt. PGM is a big thing at the moment.
DYOR
Can see this dropping to the 0.2`s today !!!!!!
Agreed Duke
So painfully obvious. The usual "nothing" RNS, for me personally can only be a precursor to dilution
Same old Bell
oK, I retract ! There is obviously a point of the RNS, dangle a carrot to try and get naïve mug punters in to get the next placing away. Thing is the carrot is getting hell of a lot smaller and seemingly hell of a lot further away. Personally I just think it will be exactly the same as all RRR`s other projects - Big it up, explore for year or two with as many placings as they can to make sure Andrew Bell and Scott get their wages - Then the project will be forgotten about as they start to ramp the next project in the cycle.
Make your mind up, pointless or not pointless?
What a pointless RNS ! PLACING AHOY !!!!
Interesting..
https://research.utwente.nl/en/publications/abstracts-1-tellurium-and-bismuth-as-indicators-of-subordinate-pr
Bring on the termites.
Nice. About time we got on with things.