Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Found this and different rules between exchanges are a recognised problem.
The RNS is not a major problem, just ASX protecting us from deliberate mistakes I think.
" Advantages and Disadvantages of a Dual Listing
There are numerous advantages of a dual listing. Companies get access to a larger pool of potential investors, which can be beneficial for investors as well.
For example, many Australian and Canadian resource companies list their shares on European exchanges because of substantial investor interest, partly due to the relative paucity of local resource companies.
A dual listing improves a company’s share liquidity and its public profile because the shares trade on more than one market. A dual listing also enables a company to diversify its capital-raising activities, rather than being reliant only on its domestic market.
Among the drawbacks is that dual listing is expensive due to the costs involved in the initial listing and ongoing listing expenses. Differing regulatory and accounting standards may also necessitate the need for additional legal and finance staff.
A dual listing could place more demands on management as well, given the additional time required to communicate with investors in the second jurisdiction through roadshows, for example. "
Thanks for your honesty DTE. To err is to be human.
I made a mistake earlier, but now I have had time to think about the threesome!
To suggest PH had mugged TG was so silly!
Thinking it out, of course it always made sense for TLOU to accommodate SM rather than PH because the flares were ready and waiting and SM , if things worked out, were ready to take us up on the offer in 2021 or 1Q 2022!
Nobody knew lockdown was going ease, so the gas was being wasted for no good reason! Using it on a prototype was a no brainer.
Into 2022, SM clearly were not going to deliver on time, lockdown eased, so TG rescued Lesedi back for Serowe!
Not only were our Hydrogen plans on ice, but so were Pure Hydrogen's!
Who knows who latched onto PleneSys first? TG was committed to SM at their Brisbane base and it was preferable to France ! PH on the other hand were more suited to deal with PleneSys given the timings on their CBM.
if either company produced a Plasma solution, whichever one it was, then BOTH PH and TLOU were happy.
But if BOTH succeeded SM fitted our schedule in early 2022 , and Plenesys fitted better with PH and their plans for Botala a bit later. Now we are committed to Serowe electricity , if SM win the race , maybe their partnership with PH is intact and they'll be guinea pig for Tlou , rather than the converse (as planned in 2021).
As for the RNS - the funding with the Pension fund is DEFINITELY dependent upon convertible shares and I am guessing (like I suggested before) that TLOU needed to inform BSE, ASX and LSE and got the proportions wrong between exchanges? I daresay the low shareprice was a factor for ASX.
DTE,
I don't know where the Pension fund shareholdings lie. I'd expect them to be on BSE but are they split around all 3 platforms/countries? BSE may as well not exist if the locals are not obliged to make use of it where possible. I have not a clue if the Pension Fund is under govt control.
The convertible loans idea was surely for security, in case we cannot meet our repayments at the Pension Fund . The Pension fund expect us to be able to do that , make paper profits on their assets (shares) , pay dividends as earnings , and benefit Botswana.
And why won't we? Our coal fields and gas are hardly likely to disappear after millions of years, the Govt are on side , TG has done it before , the only doubt is that I have most of my savings invested here. I suspect I am not the only one with that doubt, we'll all be OK, some of us posthumously perhaps.
Italy have just been stuffed in the 4 x 100m mens relay semi-finals! They put out a weak team that scapped in as the slower fastest loser. Turkey had been DQ after a change outside the zone! They appealed because the Fins inside them had manhandled the incoming Turkish runner which was proven. The Turks were allowed a rerun on an otherwise empty track to try to beat the Italian time! And they did! The Italian winner of the 100m, Jacobs, is theref
My mistake Brad, I quickly read Wednesday's RNS at 7am and concluded 90 million shares were converted, but they couldn't convert the remaining 25 million until approved at a shareholder's meeting. Having said that, I suspect this technical issue with ASX was uncovered because the BOPF intended to convert.
Whilst I knew it was possible, I never thought it likely, that pension fund would write off debt with shares due to the inevitable dilution it would bring.
BSE:TLOU are trading at 1.75p and were 3.35p last August. Weighted averages need a period to be specified 15.45p in Jan 2018 was the peak on BSE.
Where did you get that news DTE or have you found an RNS yet to reach LSE?
What you believe is unbelievably good news imho.
It suggests the pension fund expect the price to exceed the weighted average * 110% by enough to make it worthwhile even though their current shares will suffer dilution. With a repayment holiday in force on the debt , I would have expected any convertions to also be suspended.
£7m converted @ 3.5p is 200m shares , an extra third , and beautifully easy maths? 800m is still happily short of a billion and has the same number of zeroes :O)
"Mmegi
Tlou seals P100m funding
Investing • Business ¦ Finance 10 Dec 2021
The Botswana Public Officers Pension Fund (BPOPF) is putting more faith in Tlou Energy, recently agreeing to a P50 million convertible loan deal with the emerging energy developer. The BPOPF, which is the country’s largest pension fund and the biggest investor in Tlou, has also agreed on preliminary terms for a further P50m equity injection in Tlou from July 1, 2022. The two deals will increase the pension fund’s stake in Tlou, from its current level of 7.87 per cent.
**************************************************
According to the terms of the convertible loan, the debt can be converted to ordinary shares on exercise of the conversion option by BPOPF at a 10% discount to the weighted average traded price.
******************************************************
BPOPF CEO, Moemedi Malindah said the pension fund took the view that its investment in Tlou Energy was a long-term and strategic commitment designed to help bring about vital assets and infrastructure for Botswana. He said the BPOPF was pleased to help Tlou assist in
bringing clean reliable power and sustainable employment to Botswana. Tlou Energy is one of the region’s most advanced coalbed methane developers. The company is also developing hydrogen and solar power capacity at its sites in the Central District."
The market seems to have overlooked the fact that this week our largest shareholder has converted our debt into shares at a price that’s nearly double today’s share price.
Have to agree with Appi, that no matter how excited Tlou get over crypto and Hydrogen they are merely sideshows as far as the SP and wider market are concerned. Saying that, I know from discussions with TG that he believes they have real revenue potential until the gas is sold so hopefully I've just called this wrong. As for the languishing SP, I think it'll continue to drift until the funding is sorted, with people waiting to see the equity vs debt blend.
From potential bigamist to spinster then MM. Turquoise Hydrogen , Green Hydrogen prospects look bleak.
Thanks MM , I cannot help wondering if PH used TG to make that move easier. It was a remarkably comfortable threesome - almost too good to be true - and that usually costs me money.
Brad - Pure Hydrogen have now partnered with PleneSys of France.
I don't think they have funding for Hydrogen/Carbon from Appi's post.
They are committed to Phoenix in the states and PFAS destruction is their target i.e. blue hydrogen.
Chris Dunks makes it sound like they have a torch working for solid Carbon as a prototype.
TG was expecting this and consequently made the flared gas at Lesedi avaialabe to them to turn that prototype into a commercial design. I don't believe Chris Dunks , the prototype torch did not work , his IPO pledges were based upon Green Hydrogen for TLOU in the near term and Pure Hydrogen in the longer term and his 16m+ evaporated as a result?
Pure guesswork, but I suspect Pure Hydrogen are his private backer. They stood back to accelerate Green Hydrogen production with TLOU while they progress with their own CBM in the Karoo basin. Once SM has completed their testing at Lesedi , they'd resume their partnership with PH and we;d take back Lesedi for Serowe electricity, knowing that we have a partnership for Green Hydrogen and Solid Carbon to prepare for. It was a threesome made in heaven but it could eend in divorce imho.
Thx Appi wasn't really a theory as such more an idea of what could have happened. Obviously this note probably puts paid to the idea but should they need more cash in wouldn't be a bad play I don't think although we obviously have to make sure we have enough cash to fund ourselves through to first profits of course.
So as they have secured private funding they should still be progressing our Hydrogen unit let's hope there's no more delays!
MM show some valour, and put your neck on the blog, everything in moderation is rubbish :O)
If you have been told, in confidence, exactly what is going on then of course you should honour that.
I imagine someone giving both sides of the possible outcomes , and you plumping for the most likely one (in your opinion).
Your opinion might be called a theory? But whoever told you can hardly publish the good and bad as I do all the time.
Just realised , I have not walked Poppy yet! Cloth head? I have treated yor post as a serious post, but can see a convoluted joke content which prompted my first line , and thenm as usual , I took it too far :o)
Walkies!
I'm moderately confident that my theory is not a theory but discretion prevents.
https://youtu.be/IXlBMQv2op8
Their PFAS projects with the Americans (Phoenix) , their recruitment in Brisbane that had already started , and indeed , the future of out partnership all depended on that IPO ..... it looks disastrous. And was 16m+ really pledged?
Grammar police hold fire - yes I have noticed
This was there explanation MM:
'Due to current worldwide challenges impacting financial markets, and in particular small cap technology stocks, Synergen Met have taken the decision to defer the IPO process commenced in May 2022.
Synergen will restart the IPO process when market conditions have improved. We will provide further information on the date and plans around this in due course.
As we continue to implement, develop and build our operational capabilities through successful private funding, we are committed to using our technology to ensure the continuous betterment of the global environment to support future generations. '
Does not really support your theory - but good luck to whatever private equity company is funding Dunks' and Gray's proposed remuneration for 2022
In early May they had pre-commitments of 16m+ a week after open date or so with 3.5 weeks to go for 20m to 25m target?
I am puzzled why 20 to 25 ? I know TLOU had an option for up to 3M , so did Pure Hydrogen have similar options, with the 20m FIXED! Tlou theoretically could have found their 3M and the 20M would have been a formailty with the range reduced to 20m-22Mm . Could the 1 and 6 that you remember appi? My belief was they were paying for the Carbon prototype out of current funds and the IPO would boost those funds? TLOU did not have 3M spare and I wonder if they had doubts about SM delivering anywhere close to their timetable anyway. I am almost certain they did!
SM are now working exclusively in Brisbane so how we supply theit CBM and Electricity is a puzzle.
There is little hope of producing a prototype in 2022 imho. Talking about which, I put my ideas on here for discussion which rarely happens. So having been hopeful of SM delivering in 2022 and now the opposite, I guess I can say I am right!
But nobody agrees with either of my views ... for me that is surreal?
What will the first positive RNS tell us?
Improved gas flow?
Dewatering complete?
New well being drilled?
New well complete without us knowing it was started?
New placing needed to give directors their full salaries?
New borrowing (debt) for summat else?
Company open to take-over offers?
Company in administration?
Company nationalised by a Kharma government?
Moagi is a super poster?
No biased opinion from me - will pop back in to see if anybody has commented before we get an RNS?
Femke Bol will win the 400m hurdles is my only opinion.
I woke up last night to see Poppy on the bedroom floor, next to a dark Yorkshire terrier and a white fluffy dog whose head was not visible , so I could not recognise the breed. I wiped my eyes several times and could not understand it! I put the light on and the terrier was a an old fashioned loud speaker (wooden box) and the other dog was a pillow that had fallen off the bed. And Poppy was Poppy. That was surreal too.
I think I can help a little here.
As I understand it Synergen Met ran into a hiccough with their IPO in that it was, in part, to purchase Phoenix Solutions of America. I think the ASX deemed it necessary to have a secondary prospectus for this transaction. Given the likely extended impact of the overall IPO SM went with a private placement to secure funds.
Don't quote me, but I think that's what happened.
I have to say MFM that the prospectus didn't make a very appealing investment case imo. They were trying to fund the acquisition of a US plasma heating company too which seemed to be a decent business but had fallen on hard times during the scamdemic. Their G&A liabilities for the last 6 months of 2021 were ridiculous - around $6m if memory serves and a nett loss of around the same. I know we were supposed to provide some support too, but personally I'm not surprised they couldn't make the IPO fly.
Thanks for your response Appi much appreciated. So SM were to fund our Hydrogen build from their IPO funds, this much to my shame I didn't realise. I've been focusing purely on daytrading forex for most of this year and have taken my eye off the ball wrt my stock holds.
Well that presents a problem then doesn't it. We definitely shouldn't reroute any tx funds to help them but if and it is a big if, if we have 'spare' funds we could help them out but for a future slice of their equity when they eventually do go public. That to my mind could be a fairly shrewd move. Given their tech and potential International focus.
This place becomes progressively more surreal. I suspect there are very few people looking in here on a daily basis MFM - every few weeks suits me or after an RNS; hence the lack of response.
As for SM, if remember the IPO prospectus correctly they had allocated around $1.6m of the potential 20m funds to developing the kit for us. It seems doubtful they will have the funds now. Our last update stated we were working with them to resolve this - I personally hope we don't direct any funds away from the TX line project in order to bail them out - I'm certain others will disagree.
I said some while ago that this year and and a decent part of next would demand a great deal of patience and the sideshows of Hydrogen and crypto would be unlikely to raise much market interest, my thoughts haven't altered in that respect.
It must be so irritating to see posts from someone whom you can see is talking about you AND YOU CANNOT REPLY because you will confirm yourself as being a 110% liar?
100% already proven!
I expected a crap excuse - maybe another poster posted a private email to him so he would know if me or Moagi or an etcetera had responded.
I only mentioned my search engine because Moagi charged me with not being able to resist peeking at his posts and therefore not telling the truth! My Dad’s pet hate!!!
Watched women climbers in European games today and the least pretty of them was gorgeous! All very slim to be able to take their bodyweight on a couple of fingers but I like pretty faces. Hannah Muel was my favourite - but then the others appeared … amazing competition in every way!
Worth watching for sure!
My1M expecting everyone to be arsed is very amusing!
Great he isn’t watching!
Dte , why should you or anyone else be arsed?
The questioned arsked , not knowing if they were in his filter list , which is a joke anyway!
His first million what I wonder?
Hard to identify what perhaps BTS. :0)
Inflation 10.1% today , rise attributed to food and drink.
Good to see you’re still around DTE, not that I expected you to sell up.
SM is a waiting game - they need to find a solution to their Hydrogen/Carbon plans before Tlou can review whether a move to Botswana for a working version is desirable.
When Tlou had a trial at “BITCOIN” mining with our flared gas, do you think that was used generically like biro or hoover or actually bitcoin?
If it is the real bitcoin and our plans for Serowe are delayed, there might be an opportunity because it is 50% down but not out like weaker cryptos.
If Tlou know where dewatering is likely to be quick, I am thinking instead of extending #4 and #3 , why not use income from crypto until that ends (if it does) and join up to the new wells as extensions?
The other possibility is that #3 and #4 will never supply Serowe and will be the start of a Hydrogen/Carbon industry or a larger Crypto mine?
I suspect My1M will be totally wrong and in 2023 we will be supplying Serowe and extending their electricity supply with more gas wells and gas flows from Lesedi.
Mamba and Boomslang remain for a growing company producing self-financing solar and cbm powered electricity.
OR any other eventualities?
Carbon credits might figure too at some stage?
Fair enough D to E but if you had of commented then we could have had the discussion that the forum was created for. Still nice that you could be arsed to comment on the fact that you couldn't be arsed. Sure there's some irony there somewhere. Good day Sir.