Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Is there a link for the interview?
Alien said the deal allows for the immediate advancement of the Donovan 2 Copper-Gold project while leaving it free to focus on exploration
Alien Metals Ltd (LON:UFO) has agreed on terms of a farm-out deal with Capstone Mining Corp (TSX:CS) for its Donovan 2 copper-gold project in Mexico.
Capstone started due diligence last month as part of an exclusivity agreement and has now firmed that up into a full earn-out deal that contemplates Capstone spending circa US$10mln to earn up to an 80% interest in the project, after which Alien has the option to contribute on a pro-rata basis.
In the first stage, Capstone will take a 65% stake through a cash payment of US$290,000 to Alien over three years plus US$3.6mln of exploration expenditure.
This stake can rise to 75% through a further cash payment of US$200,000 and funding for a preliminary economic assessment and up to 80% for full funding of the PFS.
Alien said the deal allows for the immediate advancement of the Donovan 2 Copper-Gold project while leaving it free to focus on exploration.
In a statement, Bill Brodie Good, Alien Metals’ chief executive, commented: “This transaction sees the potential for considerable expenditure to be invested into Donovan 2 over the next few years as the project progresses through to feasibility studies.
"Importantly, the transaction is in line with the Company's model of unlocking value in its project portfolio; with Capstone overseeing exploration at Donovan 2, the Company's management team can focus its exploration efforts at Hamersley and Elizabeth Hill in Western Australia and commence maiden drilling at Los Campos and San Celso.”
Shares in Alien Metals have been on a tear recently, rising over 1,000% since August on hopes for its exploration portfolio.
"first of several agreements"
Plus I like he mentioned investors few times
Things went crazy for us for a few days, and we probably grew too much too quickly off the back of hype, slow and steady tends to win the race. As many others have said, contextualise it, we are still up over 100% from a couple of weeks ago and a pullback was bound to happen. I do feel for those who FOMO'd in and admittedly I averaged up expecting it to run a bit further than it did off the back of this news (which I feel has been greatly undervalued by the market).
I would recommend staying and holding, US stimulus will eventually arrive after the US election which IMO will be the catalyst for the big breakdown in the USD, and the break out of PM's. This will be almost perfectly timed for seeking a JV in our silver based projects (San Celso, Los Campos and EH) as we should hopefully see silver rise at least 30-40% before the end of 2020 - this will be an exponential increase on profits of miners. Combine this with a Biden win and we see renewables pushed which means a strong surge in demand for silver.
China is one of the few countries strongly recovering from COVID and their demand for industrial metals has never been stronger, which makes groups like CITIC a strong candidate for our Hammersley iron ore projects which are the next piece of news (Assay results, due next week). Bill also has strong contacts in Rio Tinto nearby that may wish to look at this project.
The recent acquisition of the surrounding areas of EH - the Munni Munni region, supposedly sits on a major palladium/platinum mine and 2 million ounces of gold. Palladium being another high demand resource in an increasingly renewable energy focused world (used in electric cars - which are likely the future of the automotive industry).
Got to be a strong hold for me, especially while the market isn't recognising the true value of UFO's portfolio.
Also a new mystery project in Greenland...
Exactly, great op for people to get in. People who bought on the spike 3 options really hold tight as it will increase, average down if you can, or sell which i would say that is the last thing i would do.
Any large investors looking for a scalable, cash efficient, high-growth company to ride the PM & Base Metals bull market? :-)
Yes also demonstrates that our business model allows for rapid growth.
Zak said It's scalable and cash efficient.
The is the best business model to get the maximum growth possible out of the PM & Base Metals bull market that will last about 5 years.
Nice interview with zac n bill.
It means it’s fully funded and can earn , the headache is gone while we concentrate on our other projects