Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Russian forces withdraw from Kharkiv Oblast and retreat in Kherson Oblast
Hope your right! Glad you called it right on those Black Swan Events. Sadly I didn’t but hey that’s investments for you - some you win and some you lose! Hoping Solg will help redress the imbalance and make me a tidy profit :)
Ha ha :) Wish it was MF. No the plain and simple truth is that a number of years ago I was heavily invested in Lloyds Banking and had just started posting on this site so I chose the moniker FTJNY which at the time was Lloyds corporate strapline in their advertising “ For The Journey “
Boring but sadly true as were my losses in Lloyds when we voted to come out the EU which was ironic as I too voted to leave so maybe I should have paid more attention in my own convictions and less to the press which were all saying we would never vote to leave! One of my life’s more expensive learnings but at least I’m still carrying forward the losses on my tax return so MAYBE one day I can offset them against a stonking big profit! Hmmmm now where could that come from ?
FTJNY,
Nothing wrong with asking a question if you’re not sure, that’s what a BB for, we all don’t know the answers to everything
Atb
Sorry Woody it was me speculating if the reason for the pulled ( or failed) fund raise might have been a bid subject to DD and a confidentiality agreement? The overwhelming consensus was No so not for the first time have I been barking up the wrong tree but I felt worth posing the question :)
Just checking the BB, has something material happened over the weekend re funds raise/bid news please?
Ukrainian forces 30 miles from Russian border near Kharkiv. Souce Reuters
Ouch. Let's hope there's nothing else in your portfolio to add to that unenviable record.
They aren't the same type of suspension MineFinder.
Trading is sometimes suspended for regulatory reasons, if, for example, a company doesn't file it's annual report by the deadline. A company may also suspend if it's subject to something like a reverse takeover (predominantly cash shells) or if it intends to delist from the market.
Other than that. companies won't (usually) suspend just to make an announcement. They'll just announce at 7am so the whole market has the news in advance of the open.
MF, I said 'whenever possible'. There are always circumstances when it isn't, but in most takeover situations it is.
You are right, Bozi. One of the fundamental tenets of the Stock Exchange is to allow all shareholders to trade whenever possible. They do not like suspensions.
When was the last time it happened, if it happens so often?
Other markets have a clear suspension protocol for capital raises and other material announcements. London does not.
SOLG would only suspend if a functional market could not be maintained. That would be some leak. Virtually no chance it happens anyway.
Fomad - London listed stocks don't suspend in anticipation of an announcement so there should be no concerns on that front.
If this stock is suspended on a bid scenario, how long might that be for? I've got some house purchase funds tied up here and if the timings are off, a suspension would be very undesirable
The problem this time around is that it's not just a fund raise for working capital and exploration like many years (excluding Franco PFS deal).
Now, the forward funding story essentially becomes entwined in the present funding story if you follow. So these are the funding requirements with rough dates... this is the reality that the market is now throwing back at SOLG.
My figures but roughly accurate based on past RNS's and benchmarks:
What's needed cash wise:
Stage 1
1. Working capital of around $3m per month ($36m YoY)
2. Exploration spend as per years prior $3m per month ($36m YoY)
3. ENSA DFS - $50m (assuming the Franco top up was intended for overruns)
4. Grass root folio x 50 odd licences require $7m each (approx) possibly 10 of these required before 2023 end. $70m or relinquish them.
Total $200m approx or $130m (assumes licence relinquishments)
Stage 2. This is the biggy...first funding round post DFS... $500m?? Q1 2024
Stage 3. This is a biggy...second funding round post DFS... $500m?? Q1 2025
Stage 4. This is a biggy...second funding round post DFS... $500m?? Q1 2026
Stage 5. This is a biggy...second funding round post DFS... $500m?? Q1 2027
Stage 6. This is a biggy...second funding round post DFS... $500m?? Q1 2028
Stage 7. This is a biggy...second funding round post DFS... $500m?? Q1 2029
Total $3bln (there's no way it's going to be below that). Production commences circa 2029.
In between all of that you have funding requirements of around $600m for Porvenir although I'm sure this could be lower and stacked but we await for the PEA.
So the trouble SOLG have now (compared to past) is that the chickens have come home to roost. The market doesn't have 24 months+ grace before the big funding rounds hit. This time, it's on the doorstep and you have various grades of investors all interested in entering / funding the company but NOT UNTIL they know how the company is going to deal with stages 1 through to 7. No one wants to take part in a large equity raise at say 26p (like last year $78m) if they know there's a larger raise coming 12 months later at 20p or lower. There are investors that want to fund ENSA but have no interest in funding SOLG exploration folio (eg SOLG shareholders). Their are investors that don't want ENSA diluted with royalties and shareholders that don't want to be diluted via equity raises.
At the moment, SOLG shareholders have been told via the PFS what ENSA is going to cost. Lets go with $2.7bln for now.
What shareholders have not been told is what the capital requirements are to get to the end of DFS. And that's appalling communication by the company. Shareholders don't know when the 60 odd licence blocks expire... what are the dates please Darryl?? And shareholders don't know where the $78m has gone that was raised for WCapital but mostly for exploration?
A clear 'plan' is required for the full forward 24 months not just 12months. Strategic / partner deals are needed for sur
Add we’ll probably just get “ the stock is suspended pending an announcement “ ….. can you imagine the speculation on here when that happens….. we’re bad enough on here ( myself included of course) when there’s **** all going on
FTJNY, as I much as I wish you were right, the fact is if a bid has been tabled and dd commenced, an RNS has to be released.
I notice that the T.W.A.T tinyray is still at it this morning lolzzz even during sombre times. They surely must have some type of attention deficit disorder and cannot stand being called out as wrong time after time ;))
Positive weeks coming up here now that we are well into Sept looking at the last 5 year trend, only this time we are approaching the end game, hopefully punitive week at poly as the delusional war continues.
OMWARDS & UPWARDS!!!
Ray, are you being vile and intolerable individual again?
Why can't you just play nice little bunny?
Great news Orthern!!!
I have been thinking about the recent fund raise which was pulled ( or failed) depending on your point of view and one scenario I feel worth considering is one where Solg tried to get away another Royalty deal (along with a limited equity raise for the regionals) but the royalty element provoked a response from BHP who decided enough was enough and put in a bid either for the whole company or a JV? Either way in such a scenario the proposed fund raise would have to be halted whilst due diligence was carried out and under such circumstances their would be a news blackout which is pretty much precisely what we currently have! Pure conjecture I accept but it would explain a lot of things which don’t seem quite right at the moment. Any views anyone?
Germany to provide Leopard tanks to Ukraine according to its Foreign Minister Kuleba....Source: Ukrinform
OK back to reporting...
Orthen - formidable Ukrainian forces when equiped properly with Himars etc. Ukrainian troops entering Lysychansk in Luhansk Oblast . Source : The New Voice of Ukraine
It’s going to be very interesting to see how they react to this total humiliation of their supposed military might on he global stage…
it’s effectively over for them.. the amount of equipment that’s been destroyed over the last 6 months, the amount now being abandoned as they flee, the number of surrenders… even if Russia could regroup somewhere , they are just a husk of an army now.. there can be no return…. it’s over, just a question of how quickly it can be wrapped up.
Ukraine been wanting to join nato for years…. NATO should be begging them to join us now… what an epic performance by those guys!!!