Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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You can sale as many shares you like but can’t buy single share electronicly need to go to market
Yeah I'm not too hung up on dates, it takes as long as it takes. I've learnt patience through a year of EUA !
Just a shame we can't make use of the grades available in 25 and the current gold price.
Mike - it's important not to get hung up on dates wrt the fatalities - the company did not say it will take 30 days or that some work could not be undertaken . It's entirely in the hands of the authorities in these circumstances and they'll be done when they are done could be anytime. If they are not satisfied I assume they can take prohibitive action or press charges, if it is a pure unfortunate and unforeseeable accident they could approve a quick restart. The 30 days MINIMUM is purely indicative of current expectations.
Hopefully they are totally satisfied and quickly give the company the permission to restart.
"In accordance with normal protocols in Russia, a Federal Technical Inspection (RTN) investigation commission has been established and has commenced its work. It is anticipated that the investigation will take a minimum of 30 days. "
All the information in the RNS today, potentially by the end of the month but a 30 day investigation period has begun into the accident by Russian authorities.
Was all production at v25 stopped? If so, any info at all about when it might start again? V25 was the high grade one if I remember correctly.
Noel - good link provides new information on what happened.
Looks like the 3 that got out where working in a different area to those buried. The stock photo shows fractured roof and no support - it wouldn't take much to fall to cause serious injury, so could be quite isolated.
An article in the Moscow Times -
https://www.themoscowtimes.com/2021/01/06/russian-gold-mine-accident-kills-two-a72548
Is this information we already knew "Three of the five engineers who were installing ventilation systems"?
Caravanboy, I have just re-read my posting and I think the tone seems rather harsh. Sorry about that and it wasn't intended as harsh criticism. It was just a rushed bit of writing and I didn't pay attention to the tone.
In an idle moment I calculated the average production over the last three quarters. I then applied that to an eleven month 2021 and to my surprise, came up with a number greater than 2020's predicted production of 44,500 ounces.
I must admit I'm a little surprised but pleased with the positivity, expected the SP to get trashed today with the trolls moving in.
I was tempted to buy but caution won over because I really have no feel for the scale of the problem or consequences operationally or financially. So I'll stick with my current holding for now , the business proposition is still in tact, though maybe a little tarnished.
I don't see how you can say "seems as if the company are totally on top of what needs to be done" and "hopefully they will put procedures in place to make sure this can’t happen again" in the same comment.
If they have to put procedures in place after an accident, then they weren't totally on top of what should have been done.
Since we don't know exactly what happened, I make no comment on the company or the events of the accident. This posting is purely a comment on what I see as the illogical nature of the earlier posting and a comment about how in mining in general, procedures should be in place to prevent \ avoid accidents, i.e. in place before the accident and not being put in place to make sure it can’t happen again.
Mike:
"Hopefully the families are helped and everything checked again."
We don't need to hope, there are processes for this.
The families will be looked after TSG is a decent company and the authorities and work colleagues would expect nothing less. The workplace will be made safe as is the process every day, if a workplace is not acceptably safe they should not work in it, that's a general principle everywhere. The issue now to address is what went wrong and what is required to set it right - we don't know the detail so what it entails.
WRT the workpace it will
Good morning. Picked up a few on the rns. And seems as if the company are totally on top of what needs to be done in all areas. And the mine is still running. And this looks like an isolated incident. And hopefully they will put procedures in place to make sure this can’t happen again. The company pay a aggressive dividend. And are expanding at a great rate. Imo. This is a opportunity to show employees that they support and safety in a high risk environment is part of what they provide. Gla.
Indeed, sad to hear about that. Hopefully the families are helped and everything checked again.
I think everyone is expecting great things from TSG with the gold price where it is, just the unfortunate accident with yesterday’s collapse putting a serious dampener on the whole thing
Preaching to the converted
Good morning, I managed to stumble across this yesterday and do a bit of digging. Things are looking very good here, previous updates in October stating increase in Q3 to $21 Mill from the high spot price which has carried on through Q4 giving us a total around $72 mill (51 upto Q3 and 21 continued into Q4). At nearly mcap surely this is due a climb once January's figures are out.
Have followed a number of these tragedies over the years, usually they do not effect mining operations beyond a few days, there have been a couple of incidents like what has happened today at Trans Siberian with Caledonian Mining over the last few years, in both cases families were supported and mining operations continued, soon recovered to full production levels.
The market usually drops the share price but within days the share price recovers.
DYOR etc.
You were correct. They seem to have it totally under control. And now the news has been announced. That they are supporting the family’s. What a good company. Gla.
Worst case IMO, V25 is very concerning as it is virgin ground that should not be full of voids or in poor/faulted ground (as per RNS's). It would be interesting to know how much of the roof has fallen
Looks like we'll be waiting a few weeks at least for stability, but at least the news is out.
Not likely to close the mine and put hundreds of local jobs at risk. Mining will stop short term, but processing will continue IMO.
They may shut the mine for months. And have to do a full structure survey. Sad day for the families and the company.
From Dohnuts - "What an awful day for those poor men and their families and friends work mates , tragic does not begin to describe it." - and it struck me that either today or tomorrow is Christmas Day in the Orthodox church - the true Christmas actually - so the men's families must be in agony at their loss. "tragic does not begin to describe it" indeed.
Be careful of the buy sell share trade reporting here. It has just listed my purchase as a sell
Of course they will close the mine whilst an investigation is undertaken, other parts of the mine may be able to operate or operate under restricted conditions.
Remember it is a collapse of ground and there is the possibility that the roof may collapse again.
From an investment perspective, it all depends where the fall occurred (have they lost workings and what level of incompetence is assigned (hence punishment for the company). It could be the new area or the old main section (where I believe they lost working before through a collapse), hence working lower grades.
I suspect it may be a while before we know, hopefully the mine can get back to normal reasonably quickly and when the outcome is known, the poor guys didn't die through neglect.