Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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https://aheadoftheherd.com/copper-shortage-getting-real-richard-mills/
A couple of posts from Hubrishunter on Twitter on the delay:
"$Solg a prospectus is required by Solgold for UKLA (as was known) and sits under the FCA to approve the new share listing. Takes a minimum of 5 whole working days plus 3 more if more info needed IMO. Yes delayed more than I originally envisaged. Why? Dunno. Spec Jiangxi trade?"
"Hard to know. A block trade would not change number of new SOLG shares unless they cancel the Treasury shares. This also requires going to the FCA to authorise the prospectus proforma But I doubt this is the reason. Nothing to worry about. Likely just procedural"
HH, if you're reading - sign back up here. Your insight and knowledge is sorely missed.
If you're actually interested... the requirement to publish a Prospectus and the contents of it are set out in the UK Prospectus Regulation Rules which are our domestic implementation of the EU Prospectus Regulation. Prospectuses are required for offers of securities to the public or for admission of securities to the Regulated Market (i.e. the LSE main market). There are various exemptions especially for listing of further tranches of already listed shares... so I assume they either need to produce one here because the shares to be issued to CGP holders amount to more than 20% of the existing issued share capital (this threshold was discussed previously in relation to cash box placings iirc), or because they need to give disclosure about the takeover transaction to the offerees.
I also notice in the original RNS announcing the merger they expected the Prospectus to be filed in Q4 2022.... so come on Solgold, get it done and don't let everything keep slipping later and later please.
Perhaps they use imminent in the manner that SOLG has used the word historically :)
Fair enough addick.
It's clear the biggest ramper of all is Red, who has the audacity to ask fellow board members to ask friends and family to buy shares to pump solg so he can sell out is nothing short of disgusting.
DBW, I agree 100% that a sale is possible. I don't think it will be anytime soon though! Im still in the J/V production camp. I accept anything is possible. Some posters just get a bit silly with their daily monotonous diatribe of "a sale is imminent" bullshine!
That's more like it !! a good old bit of fisticuff handbags on a Wednesday morning Lolzzz... ;))
It will surely make whatever is going to happen, happen faster Lolzzz
DBW, you are right. The extract that Q produced on here the other day states that first production will be 'mid-2029'. Given our total inability to ever hit a deadline we should be looking at about 2032, which, I admit, I got wrong. I'd always maintained 2030. You may recall Q saying 2025 would be the year the first ore was produced, although he did caveat that by saying the ore would come from an open pit mine. Sadly, the relevant web page makes no mention of that.
Copperpot….. equally for those waiting for production it looks as far away as ever ….. if not further than it did a couple of years ago.
MR, as you've not been on this board for long and have so little understanding of the company, I'll give you some help.
There's only been one occasion when I suggested a bid was likely sooner rather than later, and that was when the agreement with BHP lapsed, at which stage I said the 'gloves are now off'. In as much as our relationship with them subsequently collapsed, I was correct.
I don't predict dates, I merely suggest a sale is inevitable at some stage, which, given recent events, is not that unlikely.
Make a note of the date prediction, when we will definitely not be around...
01/02/2073... I bet I'm not wrong ;))
Have a good day all, except ...
Perhaps, addick/red/sharket/seanhunter "the experts" will kindly answer that question?
That's the problem Mr Bubble, people have waited and waited for a sale ........when no sale was on the cards! Some folk have been saying for years that a sale was imminent! How silly do they look today?
Well as we wait and wait for the sale bought into HARL that's the way to do it !!, retirement fund there now
RK, not so sure about that. In my day the IR people were only brought in towards the end in order to read through the document from a PR point of view. They never had any technical input, indeed given it's largely an accounting/regulatory document, they're not qualified to do so.
DBW, yes, you'd hope so. Based upon the October RNS, I reckon the SR has been ongoing since September last year and perhaps even earlier, so we're at least four or five months into the process.
I would imagine Fawzi has been heavily involved in the production of the Prospectus...all hands on deck...?
DM, yes, I also noticed the shift from ' friendly merger' to 'acquisition'. Technically it is an acquisition, but the reality is somewhat different and is much more akin to a reverse takeover.
Morning Add
He’s about at the moment …..my guess is he’d rather not answer that or he’s too busy to do so. I get the feeling we are close to some news that will answer all of our questions.
I think it's fair to say Fawzi is normally pretty good at replying promptly to emails. I sent him one the other day asking when we could expect an update on the progress of the SR, or a timeline for its conclusion. I haven't received a reply.
Two options; he's on holiday, or it's a question they don't wish to answer, which of course begs the question, why not?
Separately, CGP didn't produce a prospectus, they issued an Information Circular which specifically related to the terms of the merger - they are not the same things.
Our Prospectus should be a description of the merged business with accompanying pro-forma financials and strategic direction etc. I doubt very much it will be a short document as its intention is to provide full information about the company to the market . In other words, it's akin to the sort of thing you see when a company first floats and as such is an investment proposition.
Thanks Dinner Money - doesn’t sound like it’ll be too lengthy a document. So I guess it’ll be published shortly.
Oh great DBW - a new presentation after merger complete - I do hope it has some of those timeline Gant charts in it which we all used to believe in ! Or maybe some slides showing our peers valuations (which we are nowhere near !) or maybe a few pics of our chicken farms and vegetable patches - with a cheery Equadorian holding aloft one of his prized cabbages …hopefully they will also have a French translation version ready for our new investor colleagues from CGP, maybe some pics of Warren and Nick hugging on the final slides to show we are all one big happy familly. Maybe we could all dial in to see the presentation given by whoever is left at SOLG towers , with the presenter looking over his shoulder awaiting the dreaded hatchet man of job executioner who often follows the presenter of the day.
Can’t wait for the PowerPoint - so we can all disregard it - call it out for the nonsense it will contain and can continue our merry skipping down the road towards the promised land of a sale
They have had four mths now to pull it together so I’m hoping for a good few number of slides …..will they have enough Billy bull to fill out the content
I don't like the way they talked up various drilling campaigns over the years, with talk of 10 rigs etc drilling at once, only to go quiet on everything once it was clear there was nothing of interest there.
We would be left guessing about what happened and where all the drills went.
It's like we need to bring in Columbo to actually work out what happened and where we are or aren't drilling.
No doubt Fortissimo will suggest we are just ill informed investers because he's in the know on everything obviously, but I feel it's all left a bad taste.
As always Bozi, you have a point...
We live in hope.
In the last RNS SOLG mentioned they planned to provide a prospectus prior to the closing of the merger.
the Company expects to publish the prospectus shortly and complete the Acquisition soon thereafter with the issue of SolGold shares to Cornerstone Shareholders.
I always thought a prospectus was something published prior to an event to contain the details of a transaction to show the benefits and finer details
So why are SOLG producing a prospectus for the merger a few days before completion ….or is it a prospectus for something else ?
Also why did they only mention this prospectus a few days ago ?
Sorry if I’ve missed the point on what this prospectus actually is
Typical SOLG RNS always leaves more questions than answers ….but that’s the way our team loves to roll - tell us nothing and shroud everything in Billy bull