Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Seanhunter I see today's announcement as surprising, so like everyone else waiting for clarification. I would be even more surprised if we see single figures. We just have to watch developments. I think now they need to put some meat on the bone.
It matters not, believe it or not there's a few on here that I've come to like and I hope they make a fortune for being real and honest.
Can someone tell me when he was appointed? Where is Mr Wilsn?
And the best news is that Massiveray is now permanently filtered.
Another bubble in the stream of life pricked.
I suppose technically you are right Quady as that is when all this silly "we can paddle our own canoe" talk started.
I, like most sensible investors, took this nonsense to be merely a tease for the big boys.
The fact that the delusion is actually real, and actually about to take us down, may not be a shock to you, but it is to me, and I admit you may be right and I am wrong. The signs were all there; the reality was just to awful to take seriously.
I expect things may start to unravel very soon, starting in September, and once they start coming apart I think - like Bozi - that we will very quickly see single figures before the shock and collapse in confidence bottoms out.
Ayten's background or major achievement was getting an IPO sorted on a large multi billion asset eg like Alpala. I think that's why she was drafted in. I always thought the best way forwards for SOLG would be to spin off ENSA like RIO did with Turquoise hill. However, over the last few weeks or couple of months there does seem to be some discussions going on behind closed doors which are around the forward strategy which may or may not lead to a full asset sale imho.
As slug said a few weeks ago... why bother diluting and raising cash (gifting BUP and NCM another cheap slice) when in 6 months or 12 months time, all you've done is virtually replace the diluted value with some accretive asset value which ultimately goes to the buyer and likely at a discount. Don't get me wrong, it makes sense to get PFS2 sorted and Porvenir PEA but everything else (regional exploration) is pointless as it's never going to see enough holes drilled in 6 to 12 months time to even begin to be a discovery that commands a higher share price.
I've said for sometime now that Mather has until November to see something happen or else he's going to get booted from the Board. And when that happens, it's really out of his control. NCM and BHP tried to achieve this last year or the year before that and failed. This time around I think they'll succeed.
Keith had already taken a step back and was only pushed to forefront to carry the CEO role when Mather was forced out of that role (in title only!!). Ingo was no longer needed due to new CFO. Jason no longer needed as exploration now grinding to a halt and Lasso et al want full time workers on Ecuador turf... that's clear now. So all in all... we are now effectively back to where we started some 12 months ago with no CFO and awaiting a PFS update cited for Q3 or Q4 (albeit PFS2).
I think the "reality" that Keith alluded in his resignation note says it all. It doesn't do the companies position any good by suggesting they don't have a cat in hells chance of financing Alpala but BHP and the market are not fools. They know the immense task involved and "reality" (as I said over the week end) comes in doses.
Be smart, signal to the market that after various partner discussions and finance options the company has had a number of attractive approaches and has appointed Citi group to review them etc etc.
That would have the sp back into the 40's in no time at all.
Get on with it. This game has run its course and even Mather looks like he's ready to sell now imho.
My simplistic take on things is yes, the inner workings of the company seem a bit chaotic at present, but the bottom line is that the world is desperate for copper with electrification (and gold won't be going down in price any time soon) so things are positive. I think it will be taken out by a bid in the near future but no idea what that bid will be.
For long term holders the way forward is a sale, unfortunately going into production spells a long hard road for holders. As much as I don't think a bid is coming this year, the truth is it needs to happen for the sake of peace of mind for the lth and they can finally move on to bigger and better things.
Seanhunter because the PFS says we require 2.7 billion, doesn't mean this cannot be staged, and also maybe we don't even require it all to construct Alpala.
Firstly this is big and when constructed and we are operational we can pay back the debt rather quickly, although I suspect we will operate a gearing ratio and pay dividends early.
We do it by some limited dilution, bonds, loans and maybe the civil engineering companies we use taking payments on staged completion. So that when we are paying back debt, we are doing it out of income. So we can gear highly for a fraction of the funding.
"I believe we will continue to get RNS's over the next few weeks which as usual will be consistent with Solgold becoming a producer."
Quady I could announce I'm going to build a Lego tower to the moon, and I could make a decent start on it up to about 8 feet... so the first RNSs would be very promising indeed.
We can't raise funds just to tick over mate, where is the 2.5 billion coming from for production?
Seanhunter the bait and switch as you put it happened in 2015. When we declared we were going to be a miner.
But you know that, as the message has been consistent ever since.
If it’s not an opinion, then it has to be fact and where that fact is derived from is concerning as it may allude to knowledge of other information not privy to the rest of us.
"The challenge, as with all similar projects, is turning an exploration dream into a mining reality."
No it's bloody not, the challenge is turning a successful exploration into a sale and a cash reward for the investors who had faith.
When did the bait and switch happen?
His speculation is in response to his ego, his ramping/de-ramping depending on his current position or just the BS he continually posts about how successful he is at every company who has employed him……
What an egotistical plonker……..
I think of all 3 departures JW will be most missed.
CFO's come and go at a whim.
My CFO lasted 6 weeks- could not get on with the boss.
I can see this being the probable reason for her going.
Lets just move on and get this mess sorted out.
No doubt Dc is under pressure and will he be next to go?
This I doubt but the man has to get a grip on the situation.
Its not as RK says a shipwreck.
I appreciate RK's posts -always insightful but at days end you have to believe in why we are here.
We are so close to major news Jv/bid and still have 23m in the kitty.
I am going nowhere except to the filter button so I don't have to read massisveray's sarcastic bull...t
This will all come good in the end.
RN...trust me...she did not resign...and thats not an opinion...
As Redknight is not reading my posts, this is not for him.
Of course he hasn't got me filtered. He pretends he has, so he doesn't have to answer my posts, because he cannot.
He claims that he is absolutely correct in his assertions, but won't tell you what they are.
So when this plays out, he can claim he was correct all along.
Strange thing is he filtered me when he started to agree with me, even addicknt pointed that out at the time, as like addicknt he claimed we would not get the finance to go it alone. He's really not so sure of that now. In fact he's not sure of anything.
So Redknight should either say why he's absolutely correct, or keep quiet.
But the absolute worst thing he can do is say he's absolutely correct, say nothing, and later on whatever transpires say he was correct all along.
Wait a minute that is exactly what he has done.
Could end up blue on the day and be a catalyst for a recovery in the SP over the coming weeks, market has not taken it too negatively just early knee jerk PI selling. Obviously things starting to move more quickly in the background now...fingers crossed...
Red she must have resigned…. Ask Q ….. the company said it so it must be true !!
I don't need to reply to Redknights rant, the contradictions are there for all to see.
? “ SolGold announces that Ayten Saridas, Group Chief Financial Officer ("CFO"), has resigned effective immediately. The Company has appointed Keith Pollocks as Interim CFO until a permanent replacement is appointed”.
I would like to believe that we are at the end of the beginning. Both strategic outcomes (BHP) & solgolds are achievable. BHP gain potential control of a vast region, solgold get their name as a miner in a partnership. A few more pieces need to get moved around the chessboard before the “handshake”. For us PIs though, it’s still fraught with danger & we need too ensure no tactical missteps. Or just press the red button and be done with.
RN she didn't resign...
Morning Lunch.
So, on the flip side of your points.................
- New President of Ecuador Subsidiaries: Steve Botts (joined Aug 1st & Ecuador based )
- New Vice President of Projects: Bernie Loyer (joined 1st August & Ecuador based)
- We have magically produced a top rate interim CFO: Keith Pollocks (started today)
- Nicholas Mather statement 2 weeks ago: 'expect corporate action!'
- From our CEO a week or so ago: 'we are in NEGOTIATIONS with SEVERAL majors' regarding regional JV's
The futures Bright Solgers - cheer up & enjoy the sunshine.
Quady...it was suggested that I unblock you to read that post.
So I will post just this reply and then filter you again.
I have had a blissful year or more of peace through not reading your rude, arrogant, inconsistent posts. So here goes and then its sayonara for good because you are blissfully unaware of how much you don't know and how wrong you are.
Feel free to post for other people's benefit but I won't be there...
1 Unlike you, I read, research and flex my opinions as appropriate to changing circumstances, which is why I have sold stock today...right now SOLG is a car crash...and believe me I DO know why...
I have NEVER said SOLG can't raise the money to build Alpala. Why? Because I had total confidence in Ingo who told me 18 months ago he had it lined up in principle
I have NEVER thought SOLG would get Alpala to construction.
I HAVE increasingly this year said a bid is inevitable and recently have predicted it by the end of December because even more so after today this Board won't survive the AGM...utter incompetence...they had to b e dragged screaming by Cornerstone! into 21st century corporate governance that I put into a plc 16 years ago!
I have previously said that to survive long enough to take Alpala to production the smart thing to do was to JV it with BHP but that was some time ago. There's no chance now.
Finally, you are certainly not most people Quady. You are a total one off and I am always happy to read other peoples opinions of you without having to read your daily drivel...after you PROMISED never to pst again...and here you are...
Goodbye my deluded friend...
It’s difficult to fathom why after a selection process (both parties establishing their respective “fit”) & the short tenure to the “failed placing”, that blame could be apportioned to the new CFO. It (the placing”) would have been in the pipeline. A new strategy (not disclosed at time of appointment) with dynamic repercussions on your future role though may influence your decision to resign.