Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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It's capped at 8m.
But that's just what they have to stump up as a 100% payment.
There will be more after that, but they'll share those costs 50/50 with AME.
:)
"Read the RNS. There is a $3.83 cost to UKOG for the license on top of the $5m cost of the drill. Now convert that to pounds."
I think you have it wrong Nhawan - it's A a licence commitment of $ 7.66 mm gross ($ 3.83 mm to UKOG) but that includes the cost of drilling the wells and the seismic. UKOG are paying up to $ 5mm for 1 well and the seismic then after that $ 1.5 mm a well. If they cut and run after the first well (where to? Morocco perhaps?) they have to pay a $ 30k penalty
So they have to raise $ 5mm from us suckers
Read the RNS. There is a $3.83 cost to UKOG for the license on top of the $5m cost of the drill. Now convert that to pounds.
Good advice Skwizz - AIM is the ‘gambling’ part of a balanced portfolio - be prepared to lose, so that is why one should not put in more than 1% of you hard earned money. There are many that that have learnt the hard way that AIM is speculative... and can hurt if you over expose to it.
The seismic and the 1st well are capped at $5m, the hope is the following wells will be self-financing, so where does £6m come from?
Just noticed the spread's down to 5%.
Interesting.
:)
When they raise the £6m for the Turkey drill I reckon 0.17p will look expensive. An extra 3billion shares will dilute by nearly a third dropping it to the 0.14p area imo.
Good luck, Will.
Judgement and patience.
;)
honestly Will you going to miss the boat here... I will double down if that's the case , opps did I see 21 now ;-)
Cheers Manchego.
I don't mind the uninvested from asking questions or commenting;
I comment on US politics although I don't live there nor do I qualify to stand for political office or vote.
I'm interested in incompetence, so I can comment.
Someone may be considering buying here, or not, but they can still voice their observations and opinions.
The Boilerampers don't like it because many look in here and can't believe the ramping on what they see.
;)
Still waiting patiently for my entry price 0.17p
I think you have good points Skwizz. Personally I sold out as soon as Sanderson awarded himself a £750,000 bonus for gross incompetence, so I lost a bit but could have been worse.
I look in here now and again to see what's going on but basically people not invested should not comment so I'll bow out now. Good luck to all.
I think this has become a joke-share for its' investors having been so mis-managed for so long.
But investors who are looking at serious losses because they invested significant sums and percentages of their investment portfolios in AIM businesses like UKOG really have little right to criticise Trousers (as ridiculous as he's been) for it.
They're as guilty of mismanagement as he is, the only difference being that they've only penalised themselves.
Genuinely sorry that anyone has lost money from investing in UKOG, but this share was always at the highest end of high-risk and was never a bread-and-butter investment (*it has a very small chance of becoming one, but, if it does, that's aq long way off into the future).
A serious investor looking to invest for growth and income should never invest more than 1% of their portfolio in anything like this (okay, I did have more than 1% in at one point - but my starting investment was wayyyyy less than 1% and grew to be a lot more, before I chickened out and banked half).
:)
And paid himself handsomely with a large (unaffordable) bonus to do it.
SS has issued billions of shares to gain near majority control over approximately 300 bopd
SS has to find some coins for the gas meter before the turkey can be cooked and delivered to hungry shareholders.
I think you will find Sanderson is destroying the company and is leaving lots of investors looking for employment due to massive losses. Sando the man that promised the earth but delivered a turkey.
ID10T, Only invest and spend time on shares you are confident in.
There are so many investment oportunities/companies.....why waste time on one you are not confident in.
My guess is you are actually very confident in the medium/long term outlook and you are simply trying to deramp to get an even lower entry point.
OR worse you are trying to bring the company down and destroy jobs and the economy.
Have a nice day!
What I said this will go back where it was and yes It did .
You have good news share drops you have bad news share drops .what is wrong with this share ?
When you say something people get angry straight away . This what ukog is . No money no director no pipeline . And people like me just given money someone I don’t know .
I do feel sorry for people who has bought very height and stuck with the share .
We got saying ,Chicken dreams the wheat warehouse every night .