Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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> Hard to believe anyone falls for it any more but if they do they thoroughly deserve to lose their money.
Judging by the number and size of the trades over recent days and weeks, and the declining sp, it would appear that they do not.
I see Helpful is still peddling the "jam tomorrow" nonsense. Hard to believe anyone falls for it any more but if they do they thoroughly deserve to lose their money.
Migori sat doing naff all for years which I believe is why they had the license revoked in the first place. The Kenyan news reported it thus:
https://mobile.nation.co.ke/business/Row-over-permits-robs-Migori-gold-of-its-glitter/1950106-3829916-v3b95i/index.html
"Among the grounds for the revocation was that Mid Migori has held the areas for over 26 years without concluding the exploration programme. Further, that the firm had never done any exploration work since it was granted the licences and that “it has only been getting into joint ventures. It has all along been an intermediary.”
"The company had been obtaining renewals of licences through promises of heavy investment in exploration work but which have never been honoured, the court heard. The ministry also blames Red Rock for the alleged non-performance by its partner, on account of its shareholding in the latter."
If a new license is granted then so what? Nothing particularly happened before the license was revoked so why should
anything different happen if they get it back? Where is there any cash to fund any development?
The former criticism of Migori/Red Rock as highlghted above was that :
"it has only been getting into joint ventures. It has all along been an intermediary."
So drumming up a JV is hardly going to impress the locals is it?!
Just the same old "jam tomorrow" hot air from the fervant rampster here who remains locked in and stuck with a useless bunch of Convertible Loan Notes which imo he will never be able to convert. DYOR.
Won't RRR have to prove to the Kenyan Government that they have sufficient financial resources to carry out mining processes before any licence is issued? I understood they were practically broke.
How about they sell do a JV on Migori once they have the license back? That will release cash.
How about the bring in a partner to monetise DRC?
How about the share price rises and the CLNs convert?
We are on the last leg of getting the license(s) back on Migori. If any of you ever did any research you would understand what the MRB recommendation means.....
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RRR/14232628.html
Red Rock is pleased to note the approval for the grant of licenses by the Mining Rights Board (MRB) on the mining cadastre website. Upon receipt of official confirmation of intended grant, the Company will be invited to fulfil fee payment and registration requirements. The grant of the licences remains subject to the approval of the Cabinet Secretary and a further announcement will be made as and when the licences are confirmed.
That the MRB has made the recommendation is the big step forward. We could have the licenses back any day.
DYOR
History has also proven RRR always follows/mirrors RGM SP performance eventually .
In all cases......
I understand what you are saying Magic ,but what other options do RRR have to pay off their £2.7M liabilities other than selling all of JMP or mass dilution followed by 20:1 consolidation?
Booboo : "Less or no further dividends from JMP next year as a result of lower Mg prices will mean normal service dilution now resumes ."
In truth the Jupiter divi's never covered even the overheads here imo. Admin expenses alone last year were an utterly
preposterous c£850,000. For a failed AIM tiddler with £3m MCAP that's a ridiculous wastage imo.
Cash in the bank as at end Dec was just £27k
Total Current Liabilities at that time were £2.7m
Since then they've only raised £323k from a dilutive placing
Received approx £250k from a Jupiter divi
And now they have resorted to selling down the "family silver" Jupiter shares selling 1.5m of them for around £300k
When the company has naff all assets of any value (imo) then that's pretty much like asset stripping.
I don't see the investment proposition here at all. It's either going to be more dilution or continual pawning off
of the Jupiter shares which are the only thing with value imo.
The BOD saps all value from shareholders imo through ridiculous expenditure on salaries, Admin and other expenses.
Between 2012 and 2017 they raised over £15m from dilutive placings
In the same period they expended over £11m in admin and other expenses.
That's close to 75% of available cash being lost to expenses. Just farcical.
It's for this reason that fantasy valuations by rampers like Helpful are just misleading drivel.
The "sum of the parts" nonsense just doesn't apply here because this BOD soak up the value in salaries and expenses.
It is for me just a lifestyle venture for the personal enrichment of the BOD
DYOR and do it well.
Less or no further dividends from JMP next year as a result of lower Mg prices will mean normal service dilution now resumes .
https://www.jupitermines.com/projects/tshipi/manganese-price-information
The manganese price was around $7.50 approx 18 months ago. So i think we all agree this manganese price slump is pretty worrying?
Helpful i believe you have said in the past you are a financial advisor. Do you seriously advise clients to invest in MYN, ADL, RRR, RGM, CZN, POW? To most people they are some of the most garbage companies out there.
I also believe you've said you are the one who arranged the £1 million CLN that was rolled over with RRR last year and it is now due to be repaid on 19th December. In my opinion it would be utter madness if you rolled it over for another year. Remember last year you said you were only rolling it over because you thought RRR had £3.5 million cash and it could be made to better use by AB (like overseas bank accounts) instead of paying you and your clients back. So now that money has long disappeared it would be utter insanity to roll your £1 million CLN for yet another year.