Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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If a super major took a dart at SOLG then the outstanding IPA / Exploitation agreements red tape stuff would just get signed off as part of that deal and if they don't then the major player walks away. Lasso wouldn't let that happen.
SOLG specified a while ago that they still require various land purchases which involve relocation of various locals. Outstanding land issues (obstructive ones) are often the things Super majors dislike but Chinese are not so worried. The latter wouldn't have bought another 1% in SOLG shares if they were overly bothered about anything related to SOLG. I reckon they'll string out discussions for a while yet while they grab another 1% or more. Remember, every 1% ownership in SOLG is in effect 1% of Alpala. Franco took a profit share of 0.5% for $50m. The chinese recently bought 1% of SOLG (30m shares) for approx £5m. They are well happy mopping up stock by looks of things so why would they rush?
If future take out/bid prices are near 52p levels (that's cheap) then buying as many shares as they can without causing major share price rises is the name of the game for them. Why pay 52p when you can pay 17p?
They're absolutely not a blocker.
Anyone who had reason to believe the IPA was likely could use this time to make an opportune offer, but they know it likely won't be considered.
So they'd rather wait for the insurance which will be better received by their own shareholders.
The issue with where we are now is that If SOLG gets the agreements signed without delay then shareholders will expect an offer immediately, and they may be disappointed all over again.
The question we should be asking ourselves is whether there is much lower fruit on the tree.
Good question and I'm of two minds.
Add, I agree the IPA and exploitation agreements are of great value, but do we think they are a blocker to a bid?
Obviously not but what it means is the fully diluted number has not changed i.e. no new options have been granted today. Since the issuance of the prospectus outside of what was given to Scott and the CFO recently nothing has changed.
You've found the answer Galapagos.
They haven't added to the share count because none have been exercised yet. That'll happen bit by bit as they do get paid for.
The block listing is just admin that stops SOLG from having to make numerous applications to LSE.
So went back and looked at the prospectus. 33,778,125 are mentioned there already. "The Further, pursuant to the Arrangement Agreement, the Company has also agreed to exchange the Cornerstone Options for new options exercisable for up to 33,778,125 Ordinary Shares to the Cornerstone Optionholders." See page 20.
Bozi the reason why I think it is not is the haven't updated the share count. In the past they have always stated the new share count. One to check with Scott.
Hi add, yes they did, and I think they committed to that update when they were confident of hammering out a deal for Cascabel in the first 6 months of this year. Bob's bullish comments, the whole "fast and smart" schtick. I recall Bozi and others (inc. myself) saying that end of H1 was a reasonable timeframe for an offer to materialise post merger.
My assumption (heaven forfend we make assumptions...) is that the political situation and the two license negotiations are what is currently blocking Jiangxi/whoever making a move that would result in an offer being put to shareholders. Makes far more sense from where they are sitting to let the incumbent weather the political storm and get those two deals over the line.
This is why Scott has had to pivot somewhat and why we're now talking about optimising Cascabel in fairly vague terms (we have no idea what form this update will take, and no timeline for its delivery). Still a believer that things will come good here, particularly from these levels.
Stick the $4.5m on the final price.....
Does seem like they are tidying up so admin.... makes you wonder why? First we had Scott's director options RNS a few days ago... was at least 6 months late! Then we have the block listings which to be fair are usually before H1 ends. But do wonder whether due diligence by someone is flagging up some paperwork that needs sorting?? Now... where's that $4.5m gone?
They are Galapagos.
Cornerstone issued their directors, employees and advisers options prior to the merger. We exchanged those options with options in SolGold plc.
The block listing application is now the mechanism to convert those options into shares over the foreseeable.
I believe the shares issued today are existing shares but for whatever reason the RNS just came out today. As were some of the previous holdings as well with a massive delay. The RNS also states clearly that these shares are for options previously granted at Cornerstone. A lot of dust for nothing.
SM, don't forget the Prospectus said a finance recommendation related to the SR would be put to the board by end of H1. Of course, Caldwell didn't mention this and ignored my question on the subject. I think we can assume it's disappeared into the long grass.
As far as I remember the only deadlines the company have committed to are the two agreements with the Ecuadorians - by year end. To me that speaks volumes about the timelines we can expect here before any meaningful action.
Fully expect the 'regional prioritization' charade to continue for most if not all of the year and no drilling to be done.
Expect some progress/updates on tailings site and environmental considerations, but again no timelines provided by the company on these.
I think you have to look at the presentation as a box ticking exercise.
The company had been quiet since announcing the Cornerstone merger and PIs were rightly growing restless.
There was nothing in the presentation to sell the company. In fact, the company hasn't done anything to attempt to sell itself to smaller investors for at least a couple of years.
It sacked it's IR, dialled back on conference appearance, etc.
I agree that Scott was waffling. He has done a bit of that in his time as interim CEO, knowing full well he hasn't set any firm targets on which his performance can be measured. Yet another example of the company treating it's shareholders with contempt.
This is why we're going to be looking at winning bids of 30-45p and not 60-75p. The rot has set in and there's no real way to arrest the slide but to hope for a full on bull market, and that's not looking likely any time soon.
It's grim, but we hang on because not many companies have a Cascabel.
Hfm, I reckon the IPA is of great value to us, so it has to be our number 1 priority.
I re-listened to the pres again yesterday whist working too Add and thought exactly the same thing. What are the specific milestones and when will they be delivered? There aren't any, literally nothing!!! ( other than the exploitation and investment protection agreements by year end ).
As far as I'm concerned that tells me everything I need to know, we're dressed up for some sort of sale. The two interesting points I took from the call were that we've got plenty of cash for the next 12 months+, and a number of NDA's signed and an active data room. This has been mooted for some time but the first time we've heard this form the company itself. Scot said himself 'it's all part of the process', but didn't say what the process was but lets face it he meant it's 'all part of the [sales] process'. Nuff said - it's just a waiting game now and I wonder if one of the Chinese suiters will strike during this seasonally weak period???
One question for any sensible posters, does the investment protection agreement need to be negotiated by SOLG or could it be done by any new owner of ? Let's face it, either of the Chinese suiters are probably better at dealing with the Ecuadorian government than SOLG as they surely have far more leverage so these agreements not being in place shouldn't be a blocker from them making a bid???
C
Personally I can't WAIT to have no reason to be here !
Mathersfinger, all I see is just green lines all dat long on this BB. They certainly are working very hard.
Here's one for you... I wonder where they will all go when SOLG is sold and the BB has closed??
Amazing on they seem to be on SOLG bb but no where else. Such dedication.... tells you all you need to know.
The more the post the closer we get to a nice juicy offer. Then when that's all done... just watch them disappear.
Just listened to the presentation again - a worthwhile exercise, and I found his comments about getting the sp up by 'delivering on time and on budget' interesting.
The problem is that none of us know what either 'on-time' or 'on-budget' actually means. In other words, shareholders and the market have no means of judging performance in this respect and therefore I can't see how this would help the sp. In fact, we haven't got a clue about what work he's even referring to, let alone knowing if it's on-time.
I'm still trying to make my mind up about the presentation. What did he actually tell us and was it worth the effort?
For gods sake, just do what most are doing now, ignore altogether, stop being drawn into childish provoking nonsense.
For everyone’s sake, atb
Curious as to why you feel the need to ramp on Solg and not on your other investments, could it be that they are actually decent investments as opposed to this one…..lol
Tesla - You've already said you dont own any Solg stock so why on earth would you be posting on a share which you don't own?! Think the answer is very clear to anyone with a brain cell! Like I said " Broken Record" Borrrrrring Yaaaaaaawn!
FTJNY
lol de-ramping, very amusing.
Had a quick check of the facts, 11 posts in 30 days, you 3 posts in 30 days, let’s pick a random ramper DBW 86 posts in 30 days.
I also note you would not post on a share you don’t own and have plenty of other stocks but you don’t post on those, so why post on SOLG then…….hmmm