Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Can't buy anything at the moment. NT even for 1000 shares!
The dip
Agree with you ViciousHippo. Only thing that matters here for the foreseeable is gold production. And should get 1st Q results within the next week. ATB
To summarise the RNS - Matilda drilling so far hasnt really uncovered any copper worthwhile for Vale. There is a little gold in the area, but it's mostly not significant, notwithstanding the 18.46 g/t in one area. The news therefore is there is not going to be a significant upside on a copper partnership with Vale, but that was never priced into the shares anyway.
This RNS is neutral for existing Palito and Coringa, which remain undervalued at the current share price...
Minor news today as the gold is what matters at the moment for our profits and cash generation,and that is still to be priced in to the s.p.
“Whilst Vale have, during this week, informed us that they wish to withdraw from the exploration alliance, we do have a number of other groups keen to partner with us on the exploration for copper mineralisation. We remain excited, and these other companies seem to share our optimism, for discovering commercial copper porphyry mineralisation in our Tapajos tenements. We have very much enjoyed working with Vale and from Serabi’s perspective achieved a key objective of significantly advancing our understanding of Matilda as well as identifying other potential targets for copper porphyry mineralisation during the past 12 months”.
Vale leaving exploration agreement....bad news imo.
RNS confuses me - lots of info - meaning what exactly?
Cash would be more negatively affected if we didnt buy one
Cash will be negatively affected by the ore sorter for coringa. If I recall it was around $15m I may wrong. Nonetheless, this is a good investment and shouldn't be a negative
I think I estimated previously about 2500 ounces of gold stockpiled/yet to be sold so that would be worth more than $5.5m now.
There was also a sizable some of gold unsold at end of Q4, that will add to cash.
38-40k Oz target for 2024 production. If they are well in to the G3 veins and the grades hold up according to the reserve plan, then I'm expecting a 5 figure production number, or close to it IMHO which in turn will send us up towards a £1.
Q1 production results last year were 19/4. This time around we are expecting to do better with gold production incl a higher contribution from Coringa where more development has taken place over the past year.
Cash was $11.6 million at EoY (net cash $5 million) and should benefit from the higher gold price but there was a $5 million bank loan due for repayment in February so the cash figure may be similar unless a replacement loan was taken out during the quarter. This year the company should be throwing off decent cash with gold $2200 plus.
HIGHLIGHTS
First quarter gold production totalled 8,005 ounces, a 13% improvement on the corresponding quarter in 2022.
Plant feed grades were the highest since the third quarter of 2021, benefitting in part from higher grade ore from Coringa.
The Coringa mine development continued to progress well with the high grade portion of the ore being transported to Palito and contributing over 2,200 ounces towards the first quarter total.
Cash held at 31 March 2023 was US$13.2 million.
My expectations from here if we can maintain $2200 - $2500 is £1.35 plus here. £1.60 - £2 possible.
Exciting times as the gold price gets ever higher. I cannot wait for some results. Every increase goes straight to the bottom line,so should be impressive and make a mockery of this market cap.
Ok thanks for reply.Doesnt seem like a good time to hedge
Last year a quarter of the production was hedged but that contract was ending in Feb/March so if there has been a year extension it would be above $2000/oz this time around.
I'm not sure we'll see hedging this year with how strong the balance sheet is.
Is there much hedging on the production?
Gold on the brink of going through $2300 now. Amazing.
Still valued at just over half the price of 2 years ago. With all the progress and gold price.
A quid is only an MCAP of £75m or so, a long way to go. First up they need to deliver a good Q1. If they do its off to the races.
Whilst we have seen a very handsome return over the one year timeframe here is £51m mcap really that much for a virtually debt free miner heading to 60k, organically funded within two years and with long term plans of 100k-200k ounces?
Touched $2,274.58 a while ago so everything is looking goooooood
I'm going to wager 80p this week!
70p plus this week? Gold going the right way......🤞