Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
MR, 'fantastic day so far'. Were you referring to your investment in POG? Or was it EUA? Let's hope so.
Novice has been suspended buddy for spreading lies on the poly board... hopefully he can spend his time doing something productive
… so tell us all your banned usernames including 6 years ago Buddy and the reasons for being banned so many times.
We’re all eagerly waiting Buddy.
Yes, fair point DBW - re the due diligence
Morning Pad
Seems like all the financial housekeeping and reshuffling must be for a reason. As someone pointed out to me earlier maybe the financial irregularities came to light during a due diligence process …… I guess it’s (as always) just a waiting game…. ATB DBW
Forgot to mention admin do us a favour:)
Fantastic day thus far...
Nice when a plan comes together, first sng and hopefully my other big pay day comes off...
Odd the sp is performing g so strongly this morning - perhaps this news indicates a shaking bout of the old guard prior to a major corporate event.
From the very rainy but bonny banks of Loch Lomnd this morning, hope red-light is getting better weather than me.
Sadly, there are people whose intentions are immoral, both within businesses and bulletin boards.
What has happened at Solg, does not change the rare, valuable tier 1 asset we have and an imminent takeover bid.
GLA
Morning all.
Novice is having a little break in the sunshine.
:)
RK, to be fair the company has made significant changes and it's to be hoped we can put all this stuff behind us. Having said that, it's now easy understand why our main shareholders wanted Mather to go - they quite obviously knew a great deal more than we did, unsurprisingly. And I'm sure they'll maintain the pressure in the light of recent developments.
Enjoy your cruise.
Agreed...and Moeller...Corporate Governance shambles...how can SOLG remain independent now...?
Anyhow...moored in Oban sound...off to Mull later...
Have a good week guys
Sad to say, the more time goes on, the more shambolic Nick's time as CEO appears.
Tweet
https://twitter.com/xavierverag/status/1525528298826174465?s=21&t=TQ3eGsVN-p3_neh25OZIEw
Copperpot, sadly, all the evidence you need is clearly laid out on pages 4&5 of the MD&A. It may, or may not, have been exactly the same scam as JJ mentioned, but it was obviously something very similar.
Let's bring in Colombo, perhaps he could start with that 4.5 mil.
JungleJane, I'd like to see some proof that the same scenario is happening with Solgold in Ecuador?
Junglejane
I don't doubt that for one minute.
I worked in the DRC for a year. My job involved saving a failing project. I wont go into details but the country manager had set up a scam whereby he requested budget for replacing machinery and then kept the money for himself. No one ever checked if the machinery got replaced, because no one wanted to work in the Congo. I found all the heavy machinery up on blocks with no tyres and broken tracks. And much, much more. And having lived 12 years in Ecuador I can tell you that the only weird thing would be if no one local had set up a scheme to steal from the project... Lack of serious management is rife in mining companies, due to far too many complacent people who sit at desks in other countries earning huge salaries. I know, believe me.
"SOLG the place to be... the place where FOMO lives and breathes. The place where those on the sidelines have sleepless nights... and fear the bid RNS every day.."
Confirmed, CD is delusional....
$4.6m still adds up to a lot of money...systematic...and I would struggle to believe only one person knew about it...
Oh BIG MAN are you Damers, you wouldn't be saying that to my face, that I do know.
I've always believed that Priy was ousted for something he was pressing on, or resigned as a matter of principle...
To me it sounds like local companies or individuals have been invoicing for services or labour that they didn't provide. I assume in running the exploration camps and drilling rigs etc they use a lot of contract labour and services. Sounds like alongside all the legit invoices some made up ones have persistently been finding their way through the payments system.
Is it just people spotting an opportunity for a bit of grift? Or is it greasing the wheels with the locals? Would it surprise you if the village bigwigs who live around the areas where Solg has its camps might have sons or nephews who were taken on as contractors but might possibly have accidentally forgotten to ever show up to work?
I notice the action steps include better procurement processes and ABAC assessment and training as well as hiring some better local finance and accounting personnel.
It sounds like (and is) a large amount of money, but over the course of 4 years probably non of the spurious invoices was ever so large as to set off an alarm bell.
I'm not condoning this of course, this would just be my guess at what's being going on, rather than some rogue employee just stealing $4m by themselves.