Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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MCB
the cost is negligible of trucking a barrel a rather generous $1 max per barrel
no sign of a significant pay cut yet for the board!
Lets hope so MCB, Though the silence here is deafening !!
Agreed LST.
Also using the pipeline should vastly reduce the cost of producing oil, compared to trucking to the Zinder refinery.
Another session when all other oilers up, we down.
The complete silence of management is very worrying. What’s going on? Something must be but what is it? Has anyone contacted the company? No replies as usual? I know they completely ignore emails.
Hope everyone is keeping well. Crazy time.
MCB, Proving up Niger on our own with cash generated from Nigeria may be the best way forward at present as i feel a partner may be hard to find or not willing to come up with what AK see's as a fair price. Proving up the Niger asset ourselves could add significant tvalue 12-18 months down the line when hopefully oil is at a more Palatable price, and the Pipeline will be there or nearly ready to receive oil flows.
Director buys would be encouraging. But at these levels with a £70 million market cap, they could buy back 20% of the total shares in issue for under £15 million. If they are receiving the payments for gas sales this shouldn't be a problem, and would slash the shares in issue to just under 800 million.
Since the deal completed last November the shares have underperformed massively. Even when the markets were strong in nov - feb SAVP lagged. Because of this under performance, when the markets tanked due to the corona out break we now find ourselves at circa 7p.
My main issue atm is with Andrew Knotts salary. Surely he has to wake up and realise we are now a £70 million m/cap company. Salaries should be cut accordingly to reflect this. Hopefully some of the institutions on board will raise this issue.
Poor communication / regular news flow seems to be the norm here. Maybe the institutions receive more information from the company than us regular investors, as they account for a large percentage of total holders.
As for Niger, in the current environment I would take a 2 year view as proving up as much oil as financially viable, as the the export pipeline should be completed in 2022, and hopefully the oil price should have improved in that time.
Drill / operation costs should be substantially cheaper atm, which is one small positive.
I am not aware of us being in a closed period, so would have seen this to have been the ideal opportunity for Directors to take advantage of price and put there money where their mouths are, 3 of them have less share than the majority of us on here which isn't a resounding endorsement of the company.