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Hey Parrot,
"They are 2 completely different things.
You're quoting declared short positions over 0.5%. I'm quoting avg Shares on Loan. Shares on Loan can be used to short and that figure can be below the declared 0.5% per hedge fund."
Thanks for the finance lesson. The only thing you miss is SoL can be lend in both ways long and short. This is how market works. Of course for you and you only, the stock is being heavily shorted which is not the case as you do not know that. But again and again like a parrot you bring forward the CEO and all the c.... as a redflag! The only redflag, here is your ability to make a valid well judged point. However, being a parrot, it is not possible and so I won't blame you.
Also, worth noticing, whilst Blinkx was shorted >0.5, ATM no hedge fund is putting a big bet on it! But of course for you that's a bit difficult to understand.
See you soon.
I didn't say I wouldn't accept it, I said I think it stupid. Actually, I think it's monumentally stupid.
How about the totally obvious: 1 to 1?
doggy,
You seem unable to accept the offering of 1 ADS unit representing two shares of TRMR.
Where then would you have the ratio set?
BTW: Tricky, have you been drinking?
You totally mischaracterized things I said...by implying I said things I never said.
I never said America was great (we were, but no longer). I said we're a totally corrupt country, and this only came to light recently due to Trump exposing the depth of the swamp.
Sure, we have a lot of really stupid people here. And even more ignorant morons. What country doesn't?
That being said, I manage to avoid most of the above.
Tricky,
I've been to the UK numerous times, but I don't stay. My family is from the UK, we left a couple hundred years ago. My father returned for a couple years in 1944-1945, but did not stay. We prefer it where we are now located (obviously). I do not criticize your country or it's citizens on this board (except my one comment about Boris going woke on us).
People who live in glass houses shouldn't cast stones.
doggy,
You are goofing off,
Trump did not say America was great, he said we can make it great again.
Draining the swamp and all that stuff.
If Americans are not stupid why do they normally elect establishment figures?
If they are great why do British entrepreneurs 'Gordon Ramsay, 'Kitchen Nightmares' U.S.A. show up the incompetence of
restaurants in America serving up sub-standard food?
Why does Simon Cowell show how Americans need to think and criticise instead of commonly gushing over and mindlessly applauding entrants to music/singing contests?
Why do Americans allow themselves to be shown up for lacking critical faculties?
Americans seem stubborn in the face of criticism and much prefer applause.
Milhous,
So, what you're saying is Americans may not be stupid, but we're too effing ignorant to figure out fundamental valuations.
Ignorance does not apply only to Americans. Neither does stupid.
Here's what's stupid: offering 1 ADS unit representing two shares of TRMR.
doggy,
It's not about Americans being particularly stupid.
More about appealing to a wider investor base.
There is a psychological effect for sure as not everyone is an expert and won't feel comfortable investing if the price of each share is too high (for their comfort zone) for example.
They will feel the shares have already grown to a high price and are beyond their reach.
Hey KPM and Milhous,
KP, things going almost too well in the Dawg's kennel. It scares me...I keep wondering when a shoe is going to drop (US saying?).
Milhous: blinkx ADRs were 10 shares of blinkx per ADR. Citibank underwrote them. There was virtually no market for them. But blinkx was a different company, so there is hope...but...as I've mentioned here before: since the underlying stock will still trade on the AIM, and we've grown significantly in terms of share price relative to company fundamentals, I am doubtful of the success of the ADSs as far as a big bump in our price is concerned above current valuations. This is short term thinking only.
That being said, if our fundamentals keep improving, look out above, regardless of the (what I feel is) absurd 2 shares per ADS. We're not so stupid over here that we can't figure out a fundamentally cheap stock when we see one, whether it's $11 or $22.
An ADR may represent the underlying shares on a one-for-one basis, a fraction of a share, or multiple shares of the underlying company.1? The depositary bank will set the ratio of U.S. ADRs per home-country share at a value that they feel will appeal to investors. If an ADR’s value is too high, it could deter some investors. Conversely, if it is too low, investors may think the underlying securities resemble riskier penny stocks.
Qwerty,
"before but the US market is killing this share now."
Agree.
Magnite closed down 2.58%
Pubm closed down 4.43%,
Perion closed down 3.9%
The Trade Desk closed down 2.6%
hi Gdog,
I wholly agree with your latter point, that what really matters with low debt and growing cash flows.
I hope the offering goes well across the pond, its being done by some well know Street names that could potentially write good research reports if appointed as brokers. lets see what happens at the end of 30 days, the quite period post an offering and who takes up doing the research notes.
Have a good evening
VBR
KPDm.
Gino,
I already tried that. Didn't help.
Could try ingesting bleach?
Ignorance can be cured with education. That being the case, I wrote investor relations asking why two TRMR shares per one ADS.
I'll post the answer after they respond.
BTW: While education is a cure for ignorance, there is no cure for stupid.
Perhaps US$ 22 for a TRMR share looks tasty - only the wise would know this was the cost of 2 shares!
TIC
qwerty
"If this listing was back in November - January we would be already over 1000."
Agree.
Moving to Nasdaq (and not dual list as they are now doing) before the ad tech bubble (Nov-Jan) and US Election hype would have boosted the sp significantly.
Dual listing is likely to mean PIs constantly looking at US market to see what is happening. If US market or US Peers crash then it could be too late for UK investors, with AIM shares, to get out the following morning.
BTW: I realize my post about $5 being an obstacle makes very little sense, since we're trading around $11 now.
So I did a search and came up with this:
"Many mutual funds don't even allow their managers to own stocks that trade below $5 a share since the risk is considered too great. That said, hedge funds can own whatever they want, and if they see value in a low-priced stock they will jump in with zero fear."
Also this:
Can a mutual fund own a stock for less than$ 5?
"It's often said that mutual funds and other institutional investors can't own stocks that trade for less than $5, condemning low-priced stocks to retail ownership only."
I have no idea what genius came up with the stupid idea of 2 common shares of TRMR for 1 ADS, but it appears to me to be a moronic move, unless I am totally ignorant of why they did this, which may be the case...but I doubt it.
You are literally just repeating the same thing over and over STT1. So desperate.
Bru,
"his sources aren't real. Just follow the FCA and you will be fine"
They are 2 completely different things.
You're quoting declared short positions over 0.5%. I'm quoting avg Shares on Loan. Shares on Loan can be used to short and that figure can be below the declared 0.5% per hedge fund.
So multiple hedge funds with < 0.5% won't show up on your list.
The avg Shares on Loan have trebled since Dec when the CEO sold 1/3 of his holding. They have also been increasing every month since then.
Tosca who bought in after the previous big short on blnx are now selling only days before the IPO. For me, Tosca selling and SoL increasing is a red flag
The Shares on Loan could be used for arb trading but I think it is a concern that they have trebled since the CEO sold 1/3 of his holding.
The avg SoL have now trebled since Dec.
Dec 1265065 1.02%
Jan 1382006 1.11%
Feb 2158481 1.74%
Mar 2941789 2.37%
Apr 3026422 2.41%
May 4645852 3.67%
https://www.euroclear.com/en.html
Blackrock and Shares on Loan/Shorting on blnx/rthm(now trmr):
Blackrock, their largest II was increasing their holdng AND lending out shares.
The blnx/rthm(now trmr) shares rose in 2013-14 on bullish comments. The Shares on Loan were also rising significantly. Blackrock were loaning out the shares.
They were caught out because Blnx issued an unexpected profit warning in July 2014.
Blackrock were then forced to stop loaning out shares:
BlackRock restricts share lending after short selling attack
https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10947330/BlackRock-restricts-share-lending-after-short-selling-attack-on-Blinkx.html
Who is loaning out the shares this time?
I said it before but the US market is killing this share now. If this listing was back in November - January we would be already over 1000.
KPDm,
I had a pretty good idea that may be the case, but the number I had in my head was $5.00 per share. My understanding for decades has been a lot of funds have it in their charter that they can't invest in companies with a share price below $5.00.
I always thought this was pretty stupid, since market cap and enterprise value are what really matter.
Hi GDOG,
I trust all is well across the pond!
Perhaps this may help as a possible explanation. I believe the main reason for two GBP shares per ADS is that it takes the value above $15, (e.g. £7.8X1.4x2=$21.84). Some US funds will not buy stocks under $15 because they are associated with being micro caps/small caps. Sounds crazy, but that was my WST experience.
be well.
VBR
KPD
IDK...the fact that we're offering 2 ordinary shares as one ADS makes things rather confusing.
I have an idea why they're doing this, but still, I think it's lame.
Don't listen to the parrot - his sources aren't real.
Just follow the FCA and you will be fine:
https://www.fca.org.uk/publication/data/short-positions-daily-update.xlsx
None reported as today.