Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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gkb: I first bought in August 2016 and have held for most of the time since. I would call that investing.
You are the one who wanted a big win in 6 months and has been moaning ever since because some reality got in the way and the company has taken time to work around it.
Grow up.
And I'm still not sure whether the board knew the extent of what Pickford was up to with his debt structures. There was a comment somewhere that it was left to him
Definitely not clear whether there was an absolute obligation to carry on financing mines in Zimbabwe to the end of time, as seems to be the suggestion
That would depend on the precise wording of the agreements, which of course, like the Atlas financing, shareholders are not allowed to see
Sandy, I understand your approach as that is always the easiest to defuse a situation. Ask for other things than what actually matters.
This is not about me Sandy and you know it and that is why you ask. I have been very positive in the past about AP and you can check that in my history. However, I have always maintained that AP is a deal maker an not a CEO. That is exactly what is being proven here.
He should have never, ever made all l these promises that he has made in the many podcasts over the years. I realise many new investors do not have that history with AP, but I do. And yes, I believed it too, for a while at least.
If you have any experience in running a business this is not the way to go about it.
So, by all means measure AP on his delivery to what he has promised, promises at the moment and what he promises for the future, as he has not done much of that. But don't try to be a cheap shot and make this about me. A good CEO is measured by what he delivers, not what he promises, and if they don't deliver they go. That's the corporate way of things. Unless you think that the CEO of let's say RIO, another mining company, makes the same losey goosey promises with jam tomorrow and no delivery as AP does. Please show me where these corporate CEOs have done anything remotely like what AP has done with our money...
MS
"Only someone utterly inert would still have an average of 0.6."
Or someone who trusted what management were saying, and thought they knew what they were doing
It is now obvious that BP was never,ever financeable without dilutory placings
No way was it financeable with standard debt finance
I know not at what point the board realised that
gkb: lol. I knew you'd say that. You're mistaken, however. Only someone utterly inert would still have an average of 0.6.
1. If you follow a loss all the way down, refusing to cut your loss, then you risk losing much more than a situation requires.
2. If you then blame it all on the company and thus refuse to buy on the way back up, then you miss out obviously.
I actively manage my holding, not via the placing a but by timing my buys and sells to cut losses and grasp rises. It's hit and miss but works a lot better than doing nothing and then complaining about the consequences.
Good luck - but I fear you're out of your depth on AIM.
And placing coming up, sadly.
Absurd*
Trebling within months sounds good.
the obsurd 2p by xmas pumping from castaway. Now it's maybe .60 in a few months. This is what endless dilution has done. There's always going to be fear of another placing lurking around the corner.
GLA
Thanks Jayfella, interesting article. Appreciate you keep finding these pieces and sharing them.
Diamond giant pours US$38m into Chiadzwa…President promises jobs, better quality of life.
https://thezimbabwedaily.com/news/503018-diamond-giant-pours-us38m-into-chiadzwapresident-promises-jobs-better-quality-of-life.html
Morningsun: "Ran quite a few businesses myself".
I'm interested to know more, as you offer this as a basis for what you appear to imply is a qualified basis to judge the CEO's performance.
What were the SIC codes of the businesses? This is non-identifying information but allows an understanding of the fields you worked in.
What was the HMRC tax classification of the scale of these businesses? Micro, small, medium, large? Again, non-identifying but relevant.
Where there any overseas subsidiaries?
What was your role when you "ran" these businesses?
Thanks in advance. I'm sure you'll understand my asking. Some naysayers like to claim to be experts in all sorts of things just to lend a moment's credibility to a cheap shot.
Assuming you are better than that, and open to a real debate, I look forward to hearing from you.
That is a funny one there Mijas.
Ran quite a few businesses myself and I can assure you that in a normal operating company AP would have been sidelined a very long time ago, mining or non mining.
But here that matters not as AP runs a lifestyle company so he can do whatever he wants.
MS
Ah, the green filter strip.
"This message has been filtered, please adjust your filters to view".
Nah, my filters are just fine thanks.
just popped in and surprise, surprise same crap being chatted maybe go and enjoy the sun rather than spending your weekend writing absolute rubbish on a bb! Get a life guys!!
lol - why people are getting nervous, sweating and swearing... probably too hot... :) GL
caselogic: "if you guys are such brilliant investors and/or mining experts then why the hell are you bothering with vast.......if its such a pile of rubbish".
Their problem - which they've proven by their own remarks - is that they're very poor investors and don't actually know anything much at all about mining.
It's no wonder they make losses and it tells you all you need to know that their solution is to camp out on a BB ****king off all day.
It will become a lot harder to throw doubt on production when we're selling concentrate - but then I'm sure they'll find something else to **** over.
Here here caselogic
you gotta laugh
can you people, fanatsy and others who just berate the board every day with the same constant drivel please tell me why you are invested here......
if you guys are such brilliant investors and/or mining experts then why the hell are you bothering with vast.......if its such a pile of rubbish
the fact is that you could pick any Aim company over a period of years and trash the co and the BOD for a whole range of reasons.........
yes AP is crap but thats who's in charge so either suck it up or bugger off......
Place**.
Another one of his bs was when he done a placing a few weeks after the bp license was granted and he stated he wouldn’t do a placing at that level again which was .50. This CEO is definitely on a par with the prem and has zero trust in whatever he says
Spot on fantasy well said, that’s a very accurate description of how things have gone from a woeful BOD and CEO. I plan to go to the next AGM where’s there no hiding pave there and boy won’t he be coping it
castaway or 2pbyxmas - one of the vast crew.. you lot are disgraceful :)
world class assets but useless BoD and amateur CEO... haven't got a clue what they are doing, except for placement.
What AP delivered?
- BP licence, Mercuria Tranche1, Getting BP closer to production.. waiting for RNS confirmation
Why it will take time for AP to build any trust… Poor delivery vs promises over the last 2.5 years…
- Where are all the money raised going and what are people working for VAST doing?
- Expanded too fast and too thin. Wasted precious resources on “non-strategic assets” and ran out of cash. No strategic thinking, no risk management and no prudent cash management
- $1m raised for diamonds? Where did the money go?
- Money raised for Manaila trucks? Where did the money go or where is the truck?
- Headroom requested for one and used for others
- BP in production within 6 months of licence approval BS. Continued to be a liability – huge de-watering costs which was multiplied by finance delays.
- Mercuria 2 failure and Bergen saga.. All “ON TRACK” BS and eventual failure. We will not convert Bergen BS and Bergen did.
- Finance; we have option a, b, c and d. But couldn’t get any.
- Corporate Finance restructuring to balance books BS. Look at the shambles of current financial position.
- Sold PP at the wrong time, look where the gold price is above $2000
- When finance package was announced in Oct-19, AP said no more dilution in podcast (unless until he gets a lucrative concession... etc). VAST did a placement straight after.
-Remember the twitter of few videos in Dec-19, apparently China equipment was not needed but VAST using refurbishment equipment (false dawn on restarting mine)
- We are always on cusp of something.. cusp of signing diamond (not VAST’s fault), cusp of arranging finance, cusp of BP production, cusp of turn-around.. for only the cusp to disappear after few weeks.
- Placement, placement, placements…from 5.1b shares to 12.2b shares. Share price from 0.55p to 0.20p.
- More than 70% reduction in share price under his watch.. (While all along AP’s BP 20% is undiluted or unaffected)
- There is more to the list and I am sure people can add
3 things AP must do;
- Proper Debt Finance facility: Now that he raised more for further documentations, better deliver debt finance facility.
- Production by Jul-20: Progress had been made at BP for production in Jul-20. Need confirmation.
- Lay out revenue generation plan: (from slow start to ramp up of course). Deliver against the revenue generation plan. No point in starting a mine, if you cannot generate revenue.
Of course there is opportunity with BP mine – copper, gold, silver and molybdenum… fabulous grades which supports the historical data. And one of the reasons for me to buy VAST roughly 3 years ago. But if I had diluted from 5.1b to 12b shares whilst reducing by more than 60% reduction (from 0.55p to 0.20p) – I have every right to sceptical of VAST’s BoD.
DYO
Chris, what % of shares vast BOD holds, to claim they have skin in the game? :)
Having said all that if the Diamonds are signed off this will easily see 1p +
So this is right then, https://www.vastplc.com/investor-information/shareholder-information/
Would be surprised if it was not, most traders know that the holders' list needs to be updated accurately every six months to reflect AIM rules. So I would have been surprised if it was not accurate.
A positive that they have skin in the game