Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Good stuff Lupidog.
"However, the Receiver has since resolved the disputed creditor claim of
Southern Minerals Group. The Receiver has now confirmed the creditor claim of
Southern Minerals Group in the amount of $160,000.00, which negotiated amount
represents the claim amount that will be attributed to SMG for purposes of a future
distribution process when the Receiver proposes a plan of distribution to the Court.12
With the resolution of Southern Minerals Group’s claim—previously asserted
in the amount of $21,929,259.00"
So the most we will get is $160,000.00?
This is dragging on longer than my Superfast connection which gets put back a year every year.
It is about tie we had an update on the filed PEPR and if we club together we could go for a Coastco $8shovel for the "shovel ready" PEPR which is coutnig down the clock. What was the point if we don't use it?
We may eventually get a pfennig or even a groat.
Don't hold your breath as if you read the whole document the receiver mentions "Based on existing settlements with extended payout schedules, the Receiver anticipates bringing in an additional $1,850,000.00 in settlement funds through
December 2025"
https://broadreachreceiver.com/uploads/1/3/2/9/132950887/2024-01-29_no._289_fourteenth_quartery_status_report_275813565.1__275814851.1_.pdf
I could be wrong but heard somewhere. it's to do with spread betting but it's a subject I know very little about.
Would somebody mind explaning what all those trades at 11.09 mean? Brokers still charging for each trade aren't they?
The 10p talk belongs in the same fantastical land as that inhabited by the the great, free-roaming - yet ever-dwindling - beasts of Brexit roam, with the greater-spotted unicorn the pinnacle of the touristic vista. But caveat emptor: many of AIM’s companies trade more on sentiment than on intrinsic commercial value, meaning that the right news, at the right time, in the right market, with the right investor-base attuned could catapult it close to 10p.
Back to reality: with joint-venture discussions successfully concluded and publicised, on Redmoor and LC, then 3p-plus becomes eminently achievable.
You're a brave man! I think my biggest error was getting too attached to the story of a share and greed. I got sucked in to the multi-bagger talk that usually didn't come true. I guess if you bought in at these prices, you have a chance of getting back your loss and more, so overall, no harm done. 10p, not for me but on good news, 1p, 2p, even 3p is possible. It's about 6 weeks left in Q1, I can wait a little longer.
I had a full head of hair when I first bought SML. It's mostly gone now! My hair is just age and nature but happy to blame JP ;-)
Hi Fira.
It all comes back to the same problem.
Have you sold completely here?
Can you imagine running SMG, our saviour for all of these years. You go out, work hard and the profit goes to SML.... They sound like a good crew at SMG, they do a great job but only for a wage. How much money have they passed on to us? What did we do with it? If you ran Cobre, how would you feel about what happens to profit from your hard work? Would you have loyalty to SML.....? I'm thankful we have them pesonally.
Possibly the major client stopped buying for a year, because allegedly Clovis Hooper (who runs SMG) and his daddy, sold nearly 37,000 tons of magnetite belonging to Brenda, to an SMG (SML) customer at a discounted $40 a ton, after which time Cobre sales have slumped.
The new customer? The major client is the historical client that stopped purchasing for over a year. (last RNS is, as usual, poorly worded as it states 'the new major client')
The new client wants 5k-7k tonnes a year
The prospective new customer wants a size similar to the historical major client, but SMG cannot cater for all of that offtake at once, at the moment and so are trying to work out how to phase in this new clients supply.
I don’t want to burst anyone’s bubble, but that 10p target thing has been online since about 2017
They would have done that at rock bottom, not now.
Troutisout
Good points. Agreed earlier receipt of cash is better for several reasons, in particular one being SML's high annual cost of capital.
My point about payment from a major customer was based on the new customer not the old. I had Manganese Bronze's experience with London taxis in mind when I wrote it. ( Major customer didn't pay, forcing liquidation, at which point the major customer bought the business for a song.) Check out the nationality of the customer both for MB and for SML....
If news imminent the BOD won’t be able to buy but once the news drops a buy from the BOD would show the commitment and belief they have in the plan .
The BoD need to get more news RNS or mainstream or social media, to capitalise on the gains of the Cobre news. How about a chairman’s buy? Show us you have confidence Alan.
As the significant client you refer to has been the major client for SML for a long time now, I think we are safe knowing they pay for their shipments.
More important is how they can accommodate the other potential major client, this year and increase the delivery for all clients for the future, as I would prefer they gear up and sell the stockpile in larger quantities in a shorter period of time, even if that means the earlier end of the Cobre cash cow. They need the revenues over the next few years to get the other projects to fruition (which they haven't been able to do on the shoestring revenues of the past year).
Even so, watch out for a rise in debtors on the balance sheet.
Are you trying to improve your social status Fira, Mrs Bucket/Bouquet style :-o
The significant customer has paid "payments from the major client have commenced with a fourteen-day billing cycle".
Fira2011, Did you get banned by LSE? They have deleted all your old posts.
Quick question, why did you wait until now to set up a new username and start to comment on SML again?
By the way you might need to catch up on the Newsflow, "Clovis will see himself right"
I just hope the significant customer, CAN pay, and DOES pay.
Just needs new volume. Someone tweet something.
The recent podcast would suggest 50% margins with existing buyers. The most SML ever sold in a quater was c.30000 tonnes back in 2018. Makes you wonder how much the prospective new client are looking to order
"Discussions also continue with another potential new client that is seeking large volume shipments. However, recent arrangements with the major client and the additional new client may impact our capacity to fulfil a large order."
Certainly is, tomorrow is the mid point of Q1, if there are several bits of news to come in Q1, they should start to appear soon...