Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I think I remember that Not2sure, wasn't that the time when NCM first brought in.
Haha I remember EricEric well and take great pleasure when in the very early days he derided me for suggesting NM would get a fundraise away at a higher price than the current sp which at the time was circa 3p..lo and behold within a week a deal had been done around 6p !! We could do with another cat out the bag now !
Morning solgers ONWARDS AND UPWARDS GLA
Sorry I don't understand,
I meant he was run out of town.
Yes, I think he was:
Or got bored with the repetition.
He's still about : https://www.lse.co.uk/profiles/ericeric/
Well said Padmaster and factual.
Whatever happened to EricEric.
Colonel, I try and take in information from a variety of sources when trying to work out what is going on with SOLG, because communication directly from the company is on the whole, dire. These include:
- Company RNS
- SOLG news in respected titles
- Verbatim quotes from SOLG employees
- Emails or other forms of communication from SOLG employees
- Comments from mining industry analysts, investors and executives on SOLG
- Comments on this BB
- Information from posters who have built relationships with SOLG employees
Taking into account the above, and all that has been said and written about the fundraising attempt, I am pretty confident in my point of view. I've also said that I accept there are differences of opinion - a good and healthy part of any BB. I do post on here to correct what I see as wrong information (e.g. my post to you earlier on the structure of the fundraise that wasn't), but only do so when I have evidence to back it up.
I maintain that it's because of the smoke and mirrors approach that SOLG has long taken to communicating with investors that this BB is 1) so active 2) has such a range of viewpoints about what the hell is actually going on.
Atb
SM
In Mather we trust. He has looked out for the little guy from early years and the Franco deal was a real jab to the nose of BHP and NCM. I enjoyed that one. I can't see this mining guru with connections throughout the mining industry being walked into a dark corner without coming out punching.
I might be off track but I just the idea that Mather is leading BHP into making a bid and he knows what is coming next. The problem is... BHP do to and don't want to do it! Fascinating tussle going here and what you would expect for what is probably the greatest gold/copper find in a decade or more.
I remember when Solomon Gold had no chief executive, no money and a disappointing Solomon Islands Project. NM had to step in from his non-exec director position to lead the business. We had the glimmer of hope in South America emerging. The share price was less than approaching 1p and the doom mongers were rampant. Chief deramper at the time was Ericeric.
Thank goodness for the mantra “be greedy when others are fearful”
Great opportunity here IMHO
Good luck to the good people here
Sharket, do you know how much they were looking to raise? Do you know the structure of that raise? Do you know whether ENSA was being treated differently to the exploration / licence blocks? You seem to think you know a lot, but in reality you know zilch.
As do many of us... so we join the dots. But your dots are no more complete than mine or others. So just accept the differing views.
And as for Darryl's messages re DFS... erm... if he's told by certain shareholders that a royalty deal is required or since then the share price has dropped to a level that makes a stream deal better than a raise ... then yes... he will change his mind because if he doesn't he'd face the sack. Shareholders own the company... not Darryl. Darryl listens to the shareholders... well he should do!
SharketMare on point 2 I wasn't aware our CEO resigned.
Jez, me too but I've clearly failed today.. Differing opinions are what these boards are here for. It's when they're accompanied with a "everyone else is thick as pigsh*t" attitude I struggle. Especially when the point of view is demonstrably wrong!
SharketMare: Thanks for your post of 14:08.
I'm trying not to get on that particular merry-go-round anymore.
Just the usual condescending guff Dbw. Totally agree with your point on the BoD putting their hands into their own pockets (or not in this case) to support the company...
Hi Sharket
Agree with pretty much all of that …. Assuming Q’s comment was typically condescending? Anyway it doesn’t matter .
My opinion that the board are on thin ice is simply based on fact that they have failed to deliver . Their job is to create value for shareholders is it not?
They’ve ****ed up the funding, managed to reduce our exploration to next to nothing and presided over decimation of the share price ….. that doesn’t win my vote. The fact that only Nick has skin in the game is also a disgrace and shows how little confidence the BOD have in their own strategy.
The one thing we have going for us is the resource and that’s someone will want. So I’m still hopeful we’ll all see a decent return on our investments despite the best efforts of Darryl and Co
1. Cornerstone would not likely take up any rights issue/equity raise (they would be forced to sell the rights)
2. DGR would not likely take up any rights issue/equity raise (they would be forced to sell the rights)
3. Telstar would not likely take up any rights issue/equity raise (they would be forced to sell the rights)
4. Mather would not likely take up any rights issue/equity raise (they would be forced to sell the rights)
These guys collectively hold near 25%.
Hence if they were not up for a rights issue or placing, then there's a 25% short fall. Furthermore, you can add a bucket load of pi's and HNWI's which also would not be up for it. Lets say about 15% to 20%.
In a nut shell it's nigh impossible to get away a large fund raise based on open offer or rights issue basis if nearly 45% would not take the rights or placing up. You'd have an overhang that would last for a year+.
Getting away $50m would not be a problem.
At end of the day... it's about getting the funds secured and trying to avoid a broker unwitting which sees bucket loads going into unknown hands. You want to issue equity 'strategically' where possible. So that's why I was hinting that you need a new player to come in like Fortescue or Wyloo or Gina etc as that would avoid BHP and NCm gaining an almost near controlling stake (if the raise was £100m+ or more).
Redknight, I don't think the BoD's vetoed the RI plans (if there were any) I think 25% of shareholders just said NO.
BHP and NCM can cry all they like but if a partner deal is announced (bit like Wyloo and GGP) then it will need a vote at the AGM. And if it gets voted through then BHP and NCM have no reason to complain. Of course... BHP can always offer a buyout. lol!
That's democracy and it's better than being bullied around by the likes of BHP and co.
Quady, a discussion with shareholders on fundraising that we decided not to proceed with wouldn't:
1) Have had us instruct Barrenjoey to start work
2) Result in the abrupt resignation of our CEO
3) Result in respected financial publications in AUS writing negative articles about all not being well with the business
4) Result in one of our investors releasing an RNS criticising the BoD
You're more than welcome to live in your blissful ignorance, claiming outlandish things like "the share price doesn't matter" (it certainly does when a lower share price means greater dilution), but when you start taking that nasty, snide tone as you did below with Dbw, I think it's only fair that you're called out for it.
You will undoubtedly ignore the 4 points above, as it flies in the face of your blinkered, delusional view that everything is fine and this is a perfectly normal state of affairs.
SharketMare really .
We now know the so called fund raise was a discussion and Solgold decided not to proceed.
Look at major companies all over the world many with healthy balance sheets. Why have they fallen massively.
As for the resignations as addicknt said one was very quickly replaced. Make of that what you will.
The board of directors are there to manage the company's affairs and deliver value for all shareholders. Over the last 3 months, they have presided over a 50% drop in valuation of the company, along with a very public, embarrassing attempt to raise funds, which resulted in several negative articles in respected Australian nationals, open criticism by an investor, and the resignation of the two most senior people responsible for managing the company's finances (one after a mere 6 weeks).
I don't recall the board setting that out as part of the plan at the start of the year.
Tesla, why has NM's hand been weakened he controls more shares than either BHP or NCM ?
You have 2 major shareholders who potentially want the asset for as cheap as they can get it.
They have a lot of power in this, but you all think Mather will win out…..hmmmm maybe he will maybe he won’t but he]is hand has been considerably weakened in the last 6 months.
The sp can easily fall from here and is more likely to fall than recover until some type of funding is secured.
DBW why would they all be gone?
They are doing what they said.
Try listening.
Sean it feels like a very long play just now.
However plenty will have to happen before the AGM agenda is released and voting begins 2/3 weeks prior to AGM ….. mid November latest. If nothing changes they could all be gone