Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The company will carry on the charade of going to production simply because they have to, the alternatives are putting Cascabel up for sale or raise upon raise until a hostile buy out occurs.
They have collectively missed the sweet spot, possibly through greed, possibly through bad decisions.
They are still painting themselves into a corner and some of the late comers are sufficiently new to see what the old guard can't or won't, I think they left because being part of SOLG may damage their reputation going forward.
I think a buy out is inevitable, but not as soon as previously thought by the majority of buy out believers.
In the meantime we had a gain in the SP yesterday on the back of an RNS this morning and failing another with some break in the stalemate it's back on the slide to 20p IMHO.
I'll ask you again: what was the point of your first sentence? Re-read it - I didn't misinterpret anything.
Actually, I think I know the answer - you don't know how to express yourself clearly. In your mind you're saying one thing, but to the reader you're expressing something completely different.
Anyway, I'm not going to waste my day discussing things with you and in the future I'll do my best not to agree with you - you'll only take umbrage.
So, if you're a details man Quady, let's discuss it.
You can't very well pass today's news off as "it being probable that we're continuing at Cascabel". That is simply a mammoth misread.
Look at the comments. They're an indictment of what's happening inside the walls. Keith refers to it being "fascinating but challenging", language that tells a very vivid story that all is not well.
Addicknt even when I try to strike a new accord, you read into it, something that is not there.
I am a details man and so just straight talking. ( My inner technical analyst if you like)
Don't be so defensive.
Something has finally happened. It's caught us all out. And I think this is going to be at last something that's worth discussing, without all the bid nonsense that has dominated this forum for far to long.
It's really that simple.
The good buying opportunity will be in October when the recession slides into view and we slip into single digits, I'm afraid to say.
Today's RNS a shocker. Let's be honest, there was a slight suspicion that Keith's work had been done so his exit not a huge surprise. However, to see Jason Ward, a man who has spent much of the last decade step down simply because he's moved back to Aus... well that suggests his career has fallen in his priority list for whatever reason.
But finally, and this is the biggest indictment of this mess, our CFO lasts all of 6 weeks. 6 weeks.
SolGold. Sort this shambles out. ASAP.
Btw, I have sent a message to Fawzi and would suggest everyone who finds all this unsettling does the same. I know I won't get a meaningful reply but, if he's doing his job, he'll pass on our views to DC.
Correct RogueNation we don't know, the only probable is that it's not a bid situation.
David, I didn't cash out the remainder of my trade yesterday.
And yes nobody can predict the future just opinions, it could certainly work out very well.
Q, what was the point of your first sentence? It appears that even when I agree with you, you take issue! Very odd.
Yes trying not to make +’s out of what is unsettling news, but looking at breadcrumbs maybe there was an internal pathway the parties are following, options present themselves & are pursued or discounted until both parties strategic objectives are in sight. It could explain all the issues here - going to production, alternative financing arrangements, no bid, no movement by senior stakeholders. Check & countrrcheck. No news on southern exploration JVs, cabs off the ranks, focus on deliverables. No desire to get into an eventual bidding war, multiple exit points. Just quietly move one set at a time.
Or maybe I’m just a delusional optimist.
yep, good buying opportunity DBW wile others run scared.
Far too much to be positive about with this stock not to be holding now.
Massive
“Watch out for my "monopoly trade" coming should we increase later, I'll give you 10 to 15 mins notice just for your benefit.”
In the absence of any gloating from you yesterday about this second trade yesterday, can we presume you still are invested here? I cannot remember seeing your 10-15 minute advance notice.
This may still work out well for you. It is impossible to predict how this will play out in the medium term.
I think that with the CFO gone, any hopes of longer term finance for production disappeared with her
I think it could well be the beginning of the process Q ….. but that’s just my take ….. added a fair few
Look addicknt however you have tried to pretend I have no idea, let's both be constructive.
We are agreed this is not a bid situation.
To me nothing in the recent past has suggested that's the case.
I have always said the most probable outcome was we head to production.
However I have never counted out a hostile bid, because as you know, I have laid out the diverse book argument many times, explaining why if any type of bid was coming, it would in all cases be hostile, as no one is going to pay us what we want, and that means with major parties holding onto blocks of shares were never going to sell cheap. In fact NCM have said more than once that they are not selling their stake, and would like to add to their position should the opportunity present itself.
So to me this doesn't look like a hostile bid either, because by it's nature a hostile bid would come out of the blue.
So what's left.
Could it be that the change in direction that Ingo was on about, is a much faster open cut than we could imagine, and our first revenue will not come from Alpala. Or could it be Alpala will be up and running faster and as such the BOD are going to have to earn their wages and different skills are now required.
Whatever has happened, I suspect we will find out sooner rather than later, as now every shareholder has a series of targeted questions. I doubt we will get anything from our head of communications. But I would suggest that the people on here who are in contact with the company, can ask the question. Why is this happening, and now is the time to give us the detail. An open question that requires a series of closed answers.
The CFO only started working on 27th June and arrived with glowing references. Her departure must be related to the failed fund raising excercise. That said, they have appointed a replacement pretty quickly. Probably the new CFO was on the final short list for the job. He is a brave man
Well max, my trade yesterday wasn't so "premature" was it?
Have a nice day.
"We have no way of telling if an aggressive bidder will look at our board turmoil and decide this a good time to strike"
This is certainly true!
With copper & gold prices on the rise, I expect a blue day today - no room for sentiment in business.
Q, I agree with you that this doesn't suggest a bid is coming. However, I'd qualify that by saying it doesn't mean an AGREED bid is on the horizon. We have no way of telling if an aggressive bidder will look at our board turmoil and decide this a good time to strike. This has increased our already vulnerable situation.
We have lost five key people in the past few weeks, which, however you look at it, suggests something is not right.
I just get a feeling that Mather is standing firm and perhaps Darryl is a BHP man afterall and Mather is not having any of it. Liam did say a while back that BHP were trying to destabilise the BoD's. Well... pretty much all the old board have gone now and come AGM Mather will be gone too?
Mather will know what is going on and he's on the little shareholders side.
The only really news today of note is the CFO going and the media might attribute that to the recent failed funding round? Heads roll when errors or mistakes happen, but for balance that might not have been the case at all.
Keith and Jason moving on has more to do with Ecuador commitments and the fact that new staff have come in to do very similar jobs.
Keith was the block cave expert or the man with most knowledge so perhaps we are about to see a NCM block cave NED appointed lol!
Just launch a strategic review and let the market join the dots.
Seconded quady.
Good grief ColonelDrake still trying to spin this to his world view. The CFO would not go if a bid was coming as has just completed a package that would have given our CFO a big pay day.
So that's not the reason.
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.
change in strategy as Ingo said.!!!
Or should I say disruptions? Looks like there has been a serious loyalty issue and possible change of intended operational direction? I imagine a drop in SP today?
In the meantime 21p on the cards