Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Prop,
Spot on.
You know the BoD will glorify themselves by declaring that their strategic investments in tin and copper ‘have’ borne fruit; whereas the truth is more that the fortuitous market-led circumstances save them - and us - from their multi-year mismanagement and misinformation.
Lupi,
Yet again,great post
"One thing to consider - Have any of the board members put their own money into the shares? Have they earned their shares through the time they have put in?"
This is an easy one. It just takes a bit of time to check. Once done, the results are blindingly obvious. The Bod are along for the ride and we are apparently being taken for one. There is an area for some of the shares which could be open to conjecture as to whether they were purchased though remuneration from SML or purchased outside of that remuneration. I am sure we all have our own opinions once the total holdings and how and when purchased is reviewed.
The Chairman seems adverse to showing his confidence in the company through share holding and the apparent need to diversify into so many other companies.
I'll leave DVH to respond (if he wishes) to the sort of interaction you can expect from attending an AGM in person.
It is not difficult to have a positive dialogue when there is full and honest information flow. Businesses hit barriers and trip over unknown, unknowns. Pasting over the cracks and using partial or misinformation to give impressions rather than realities is the realm of bad Managers and not good Leaders.
@$10500usd/t and a Bank undertaking DD, at least we will finally know if LCCM is a milestone or a millstone.
Lupidog
Great reply to my question. I also do not like boards where negative commentators are dissuaded from putting their views forward. Indeed with one such board I fell into that category so quite understand.
It seems that some wish to campaign for a change of BoD which is fair enough. But surely a better way is to get organised, get shareholders holding 5% of the shares together and put a resolution forward for all shareholders to consider and then vote for? If the vote wins then you will be saved from continuously posting warnings to others, if it fails, then perhaps we all should move on? One thing to consider - Have any of the board members put their own money into the shares? Have they earned their shares through the time they have put in?
Another way forward would be to turn up to the AGM and express your frustrations directly and see if that elicits an apology or any other form of acceptable response.
I do sympathise that if it is difficult to find positive news, it is difficult to have a positive dialogue on this discussion board, but clearly doing something about it would be preferable.
DVH, like myself and many others were once ardent supporters of the Bod. It is just a shame that the BoD were proven not to be ardent supporters of us. The trust has been eroded away over the years by mismanagement, terrible public relations, ineptitude and apparent mis or incomplete information. There appears to be a constant mismatch between what we are told and reality. What we are being told now about LCCM looks good on paper only if the paper matches the full facts and not a woven fabric including enough fact to appear credible. We have been here before so many times and the narrative changes constantly. Yes, if we achieve a loan and a full PEPR we should see a significant re-rate. However, we were once starting production. We were once getting a JV. The Due Diligence failed to spot a most basic flaw. There is no culpability taken or apology given for devastating shareholder value. This can only be considered a "long shot" by anyone involve historically with SML and the current BoD. I do not expect this horse to win with this jockey and trainer. If it does, I will take the money and the very useful lesson learnt. They may be able to turn the company around, but they will never be able to replace trust from the many business errors and style of information presentation. If you want a forum for only positive information, you will need to find a company with a BoD that interacts positively wit it’s shareholders and takes responsibility for its actions and performance.
Vii because he enjoys deramping this share along with one or two imho
DVH A genuine question for you. I understand your huge frustration, but you now appear to have concluded that there is no hope for SML. So why do you continue to hold the shares? Why do you bother to post on this bulletin board?
If you really have given up hope is it not better to take your loss and move on? Perhaps you have already sold and think it is a service to other investors to point out the tale of woe that has befallen you? If you have not sold up, then why not just keep quiet for a while and keep your fingers crossed that our luck changes? Keeping the board full of a constant stream of dissatisfaction, if anything rather undermines any possibility of the company raising funds to turn things around.
Certainly those buys say something Bitcoin
This time the Bod are gonna tell you what you really really want ....
With a bit of energy..... Its all falling into place DVH....
We are gonna be rich .... :))))
https://youtu.be/gJLIiF15wjQ
Very true Prop. Remember who said this about LCCM? 'The Project has near term production and cash flow potential' (RNS 16 Oct 2017!!). The BoD just tell peeps what they think they want to hear. Trouble is most of us have seen them for what they are and so will any financial institution that does any semblance of a thorough DD (NOT the Alan Broome version lol)
Slurm, The market below AIM is where we should be - AIM-less
Not as daft as the 'tsunami of cash' comment though.....
@fira. depends on your definition of "significant"
@pro . another off the cuff remark that bites... FTSE, yeah right only just AIM these days
Prop, you are a comedian...
As it's been said before, the results of the due diligence check will be the sink or float with LCCM & it's feasibility, they'll have access to all the numbers and resources to see if it's actually a worthwhile investment, i just hope the bank's quicker at sorting out paperwork than JP!
Shouldn’t we be a FTSE company, by now - as PW breezily declared, a few years ago?
Copper prices have surged 15% over the past month but sml share price is stagnant. 'Market' clearly doesn't believe that JP is going to get the finance to start production (or satisfy PEPR requirements) or that the project isn't going to produce the amount of copper forecast by the BoD. Year 5 of the ownership of LCCM is almost upon us and we're really no further forward than we were back in 2017....
Copper price surges through $11,000 on supply squeeze
Traders are paying huge premiums for quickly deliverable copper after stockpiles in the LME warehouse system tumbled to their lowest level in decades.
Most have been here on the premise that this will multiple over the next 12 months and have been here on that premise for a few years. Will we be here for the next few years waiting? We appear to stay on hope as we certainly do not stay on trust.
Negative outlook on the company is reflected in the share price. We all know we're taking a risk on it but it's just an educated decision based on current sky high copper prices which is V lucky for SML. Wouldn't have a chance to get funding without copper around $10k per tonne which might sway the bank to allow the $10m loan. We're all here on the premise that this will multiply over the next 12 months
Fira, apart from a lying, profligate and greedy BoD I think everything is good here.........
Therein is the nub of the problem: over the past three years, their constant lies on LC’s funding, and production have completely eroded punters’ trust in whatever news they release - and Redmoor’s been almost dormant while they rely on grants to play in its mud with buckets and spades - it’s so far away from producing anything that boilers will have become an ancient heating technology.
great day for small cap miners and metal prices continue to be buoyant. BoD tell us that LCCM is going to be extremely profitable but looks like no one believes them....