Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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We will never know what went on behind closed doors but I tend to agree this is a fair comment.
Considering everything seemed to fall apart in just over 3 months after the 50million prediction there had to be some serious lapses in management. My own view for what it is worth is site selection, or at least the assumptions made wrt planning and expected permissions. Couple that with lower margins on private sales and we have the short term ( now they are saying short and medium in the scheme documents) dip. Delayed profit is still profit but somehow It seems to have disappeared. Yet still the BOD maintain their 17p dividend prediction which I would be quite happy with.
I suspect, and just IMO, AW who has been looking to leave since as long as I can remember, just hasn’t got the fight left in him and as far as the remaining directors they have lucrative salaries and benefits irrespective. I do feel however that with others now looking over the accounts, either tire kicking or with serious intent, that some recent decisions and announcements will not look too clever. I also suspect that the abilities of the BOD’s and their reputations will not have been greatly enhanced for future careers. Certainly as far as I am concerned this is not in my interest and shareholders of companies where they may be later employed would do well to consider the situation here. How on earth can a company with a 1.5 billion pipeline, the most expertise of brownfield sites in London, contacts and relationships be sold at a knockdown price and without even waiting to see how Brexit pans out.
Flying off on holiday now so sketchy internet. I will be voting no at this price as I am confident in the future. If Boris ( God help us) gets a deal things will improve and property will soar. If he doesn’t the pound on foreign exchanges will be so weak that investment in the UK will be irresistibly cheap. UK companies will be very sought after and oh yes, property will soar.
Just need the rest of you to assist my no vote with the other 23.61%........
Having been on the premises for 5 minutes Good old Jerry voting for an early exit having added little to the party since his arrival!.Maybe if had arrived hitting the floor running with a few more deals they wouldnt be painting such a dismal picture to support the sell out