Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Cheers Lseking, Paintingpolly Ns20 & Joli10 hang in there folks.
Great to see AZ on the proactive interview today with an immaculately hair sprayed bonce. A few more grey hairs on the chin but that's good and shows commitment. All the people I follow in the industry that know about this company remain positive about what is going on. The investors and the business being acquired may not have the same skill levels as the average financial expert on LSE but I'm going to stick with the non LSE experts and their opinions for now.
Good luck all.
Lot buys showing in RED all over 0.34 are buys... coiled spring now ready to POP
"Ready to Fly"
https://youtu.be/s5BJXwNeKsQ
It’s a buy buy buy because syme will shortly flyyy!!
Hunniford
Loving your posts today, you make so much sense!!
#refreshing
@fisch "Regrettably, AZ must shoulder some responsibility for courting this attention with certain comments ("Ready to Fly"), but I put that down to an over-enthusiastic entrepreneur excited about his vision, rather than a deliberate attempt to mislead investors."
Totally agree but AZ is only human and under a fair amount of pressure from desperate shareholders to "deliver us news and make it good". I think he's made the mistake of getting ahead of himself which trips him up when he over promises and under delivers.
I've been in the same position myself (no where on this scale) in my business we have pitched and been excited about winning new contracts only for it to get stuck on the back burner for months. We've told the staff and others in the business it's coming and then it doesn't materialise straight away, so people get sceptical, some don't stick around.
Business isn't easy. Of course SYME do not help themselves with the other issues like the accounting dramas, I was surprised that he wasn't better advised but like anything else it takes time to build a team around you that you can trust and there is always the temptation to think you can do it all. Hopefully as TF onboards they can help shoulder some of the strategy and getting a new CFO is a good long overdue move.
Hopefully AZ is learning that he isn't Superman and that it's better to captain the plane, which means taking a shift in the left hand seat and not feeling he has to control all of the flying & navigation tasks, selling tickets, serving drinks and food down the back and performing maintenance when the plane reaches the next airport. He should build a great team of experts, trust them and they can take on his vision and also improve upon it. He obviously seems to be a good dealmaker so he should play to that strength.
When Amazon came up with AWS Bezos didn't micro manage it, he let Jassy head it up & Jassy wasn't a "computing guy" but they built a solid team and look at what AWS is worth as an entity now. So it shows how a good idea can develop into a powerhouse with a good leaders a strong team and a great strategy. I think SYME to some degree many of these aspects and as they keep going they will get better at what they do. they certainly don't lack ambition.
@Hunniford, that post is far to reasoned and rational to belong on LSE. Would be much better placed on Telegram :)
Absolutely agree - the barage of investor emails/LinkedIn and Twitter DMs and comments in the chat during the AGM to AZ and people involved makes me wince. Give them space and let them put their energies into growing a global business introducing a new asset class, rather than having to hold PI's hands because their couple of million shares have dropped a few % points into the red.
The biggest issue here is unrealistic expectation - Covid, Crpyto-madness, investor apps have meant investors encourage overnight multi-bag returns. Regrettably, AZ must shoulder some responsibility for courting this attention with certain comments ("Ready to Fly"), but I put that down to an over-enthusiastic entrepreneur excited about his vision, rather than a deliberate attempt to mislead investors.
Investing is a long-term pursuit - I find it staggering when people talk about needing money from their SYME investment in a few months or even next year. Any funds that might be needed within the next 5 years shouldn't be going anywhere near a portfolio in my opinion.
Hunniford. . perfect. . . I have taken positive views from the RNS. TF would not be selling if they did not think they wouldn't be increasing the wealth potential. If they have seven or eight figures invested in this move, then I can't see how my very small investment, by comparison should not be treated with the same positive opportunity.
Exactly. I'm happy with AZ doing what he and his team need to do to get the business moving forward.
here here
As usual all the keyboard financial wizards imparting their knowledge, no doubt drawn from personal experiences having been in similar scenarios as AZ & the SYME team. Most people commenting have ZERO experience in Fintech or starting and growing businesses with a potential global reach. If they did they would realise it is very hard for businesses to get funding regardless of what sector they belong to. Throw in a global pandemic and that gets much harder. Have a look at this web link as an example, even household names now well established will confirm the difficulty of raising funds.
https://www.bbc.co.uk/news/av/business-57404646
Let's face it if the guys at Tradeflow are willing to be absorbed into SYME after no doubt going through extensive due diligence then it is good enough for me. I find it highly unlikely the Negma finance agreement materialised out of the blue and therefore did not show up in any due diligence TF's advisors performed. So that suggests to me TF are comfortable with what is going on and how the deal will be financed. After all the TF guys are party to more information than the financial experts here on the LSE BB.
If the TF guys aren't happy and it did appear out of the blue then we will soon know as they will vote with their feet and back out of the deal! However from what I can see one of the parties (Parzival partners) who was involved in the early stages of the SYME & TF deal seem pretty happy with the news that has been released.
Lots of people asking questions about why AZ needs this amount of money for X,YZ. AZ has no obligation to keep all of the LSE & Twitter financial Keyboard experts apprised of what future acquisitions or plans SYME may have. Let's face it 2 - 3 months ago very few people outside of SYME & TF knew about the planned deal. Otherwise it probably wouldn't have got off the ground. Business is a bit like poker you don't show your cards until you have to.
I think there are a lot of people who because they own a couple of million shares think they should have a seat at the table to the right of AZ's elbow, it doesn't work like that.
Others also complaining about how the lack of eloquence in his responses to them, etc, perhaps be thankful he provides responses. Or indeed perhaps put your questions to him in his native language Italian and then he may be more eloquent.