Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The logic that 23p wouldn't succeed is so so very flimsy.
"We're working on some non dilutive financing...that means its not an equity offering...over the next few weeks or months...we've got some non core projects where we cab perhaps generate some value..."
Just a nice hostile to will do
Yep, plenty of new retail investors in at 6p areas that would bite the hand off a deal at 23p.
Effectively, Bob and co have thrown the rest of us to the wolves by looks of things... but I'm not overly concerned as there's no way a 23p bid will succeed .... but if it gets bid war going... jolly good.
Nope not seen him since he vanished at the end of the last quarterly gold index sell off in Feb
Funnily enough his previous moniker retired at the same point a quarter earlier
One of the other interesting things was watching the number of thumbs-up indications rise. I've never seen so many for a Solg presentation. It must be all the new retail investors.
'84, yes, something is in the offing and given he talked so openly about short term funding, does that mean it's something else?
Under the UK Takeover code if a stock has an untoward move above 10% (sometimes 5%) and there is a merger deal being discussed, then Rule 2.2 gets triggered and parties might have to file an RNS confirming talks (2.4) post consulting the Panel. Let’s hope we get news soon.
Don’t know if this is already pointed out
1984 ….. anyone seen Stackhigh since he wrote this at 6.7p??
“Plenty further to fall before the car crash fundraise. Really feel for those who have been hoodwinked in by the brainless rampers here”
Yep he’d look pretty bad if dilution happened now …..
That’s right he can’t deal either way but one is just a regulatory 30 calendar days before results are put to market and the other is explicitly that he has market sensitive information
Results aren’t due in the next thirty days is it’s the latter
That he tells us he’s going long when the period ends Means he must think that an RNS we are to receive is value accretive
Note that he’s ruled out a dilutive raise so he’s not expecting to dive in lower
But did he explain why it would take 2 years to get all the permits.. nope.
Permits don't take that long... but they do if you have to do invesstigative work first. It's been well documented for years now that the only way to derisk the block cave works is to do the elevator shaft works and test. That takes about 18 months to 24 months to complete and costs about $200m I believe.
So there comes a point where you can only derisk so much with the tiny budget you have ... sooner rather than later... things begin to require bigger budgets.
FWIIW... I think they've dropped the capex to $1.5bln so a handful of medium sized or consortium players can bid and if around £700m mark... there are plenty out there that can do that while also funding the $1.5bln capex.
There's no way on this planet that BHP or NMM would let this go for 23p a share. No way at all. And he knows that.
US 30 cents - I didn't think SC would get out of his Ecuadorian hammock for that insulting price - shocked he said he would accept having built up the company and it's assets during the interview.
'84, the effect is the same. He can't buy. Mind you, blackout period has far more interesting implications.
He didn't need to answer that question and why was 23p pitched to him in the first place. Talk about being 'staged' lol!
So looks like Bob's plan has been to drum shareholders into the ground with moth balling the company... the get the sp to 6p and then hope enough new shareholders .. old and new get stocked up at these levels so that a 23p offer (when it lands) sounds credible.
Of course... the plan doesn't end there. It ends with what BHP and NMM are willing to accept or counter offer. So 23p as a starters is fine. Noront starting offer was 55cents. The end offer was 110cents.
So looks like the stage has been set.
Like I said before... I do hope Maxit and their buddies do not place those 157m CGP shares at 10p or something pony like that knowing full well that it effectively makes a 23p offer feel like a 46p offer to them.
That would be very naughty. Bob would not be looking very good at all.
He was very clear that they're estimating it will take two years to get all of the permits. This is not news, in as much as it appeared a while back in one of the documents.
The question is will interested parties wait that long, or will they take the risk and make their move beforehand? Indeed, can we wait that long? Do we really want to go through the annual cycle of fundraising again, particularly as there's always a risk we won't be successful and every fund raise comes at a cost.
Yeah he corrected himself immediately
“Were I not in a closed period”….”or a blackout period I’d buy more”
So he’s in a blackout period owing to market abuse regulations for insider trading, in other words market sensitive information
He tells us he’s buying long when it ends
Towards the end. He was asked if he's buying more and replied that he can't because he's in a closed period.
If he said that, yes he is
Which part does he say it?
You don't want to be out over the weekend! Funding news must be on the way, could be tomorrow, could be next week but we are not far away, given the current cash balance.
Who is going to get the auction started?
'84. He said he was. Is he wrong?
Smart move him saying that.
SM, yes, I was pretty surprised as well, particularly as he was bigging the thing up so comprehensively. It's not April 1st is it?
Caldwell and solgold are NOT in a closed period
Every auction starts with a bottom bid 23p starter sounds fine by me
I can only hope an attempt to force an initial bid, to start a bidding war.