Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Exactly Longtermview24,
As if it was a condition....it's all bul$$ihIt - means nothing. And it does feel like Fraser & BOD are playing in AA team instead of protecting the company from the predatory takeover. The worst thing now is the running time. And the silence. The passing time can't be recovered and they know it. It feels like they are conveniently stretching the process / buying time to take the whole thing to the place where there is no alternative but to accept the derisory offer. 5.5p (or less) or insolvency will soon be the choice. Checkmate. Take the money or go away with nothing. I've seen PR covering bigger scandals than that.
KOH
I agree with you KOH, which is why this line in the RNS is BS … Subject to the successful outcome of on-going discussions (including satisfactory assurances as to the safe-guarding of employee and other stake-holder interests ……
We're being fed full of sh*t while the company is being stolen from us ...and on the face of it, the BOD seems complicit. It doesn't add up. How can any of this be construed as maximizing and protecting sholder value.
Care to answer us Fraser?
whatever they WANT*
There is no way SXX can force AAL to guarantee future jobs or future delivery of the project, regardless of any promises/commitments AAL make.
___
Of course there is no way. Once they are 100% owners it's over - they can do whatever they can without asking anybody ever again. BOD can't even honestly say that they recommended the offer "to protect the jobs" because by selling the company to a stranger they are entirely giving up control over the company (and including the jobs and jobs creations) by definition.
KOH
Even if it bids, Anglo won't be committing to develop the mine, making this an option of sorts."
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I note that the rns announcing the "maybe" offer mentioned "subject to reassurance on employees and other stakeholders". This is just puff from buyer and seller. It's as disingenuous at IBAB's reasons for posting morning noon and night. There is no way SXX can force AAL to guarantee future jobs or future delivery of the project, regardless of any promises/commitments AAL make. If they say they've taken a change in business direction/priority, they could pull the plug whenever they like.
The only way to ensure this project is delivered is for the current plan to be executed (as amended by the SR) by the current BOD on behalf of current (and future) shareholders.