Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Aside from the feeble minded name calling and Trumpesque tantrums from certain "believers", this has been the most interesting and informative thread on here for a long while. Thanks for stirring the pot Q. E. D.
I freely admit to not being a wise investor, I took a pint on Wishbone on little more than a whim. Just before they plunged from 17p to bugger all!
I've learnt a lot since then and I'm so glad I hung on to most of my shares, I'm nearly even now after I never thought I'd see my money again!
I'm very very optimistic about WSBN, let's hope we all get lucky eh!
Last time I checked a bad stock didn’t rise 100% in a few weeks my friend!
All the best with your decision, whatever you decide to choose. I’ll enjoy my investment growing why you dither around. ATB
Reggie
I'm learning about the company whilst waiting to see how the Red Setter project develops.
Flashheart
Stop panicking........This isnt "bad stock"
Your the only person saying that.
Phew! Im glad that’s resolved for you QED well done for looking yourself.
Now that you have everything you need, the final question is are you IN or OUT?
Hi Da_Gee
I've just looked at these warrants that were attached to the 20th May 2021 cash raise that you suggested.
To start with........Thankyou for your contribution.
However, I think you may have either made a mistake, or possibly mis-understood the announcement?
The private placing was to raise £1.4M (gross) and in doing so, the company issued 10,000,000 ordinary shares, at a price of 14pence per share.
Additionally, one warrant was also granted to the investor, for every two ordinary shares subscribed for in that private placing.
In total, 5,000,000 warrants were issued, with an exercise price of 20 pence per share, and an expiry date of two years.
20 pence x 5,000,000 warrants = £1M
Therefore, the company will only receive £1M (not £4M) once the investors exercise their warrants.
Once exercised, the company will then issue 5,000,000 new ordinary shares in the company, to those same investors, equating to an effective outstanding dilution of 2.877%.
Apart from that, you are correct about the accelerator clause, and it's still possibly an option on the table that could provide a bit of cash for the company, if all the exercise terms for the warrants are met.
https://www.lse.co.uk/rns/WSBN/red-setter-exploration-update-and-equity-raise-dm6arkxgg6r52fm.html
Thanks.
Ricardo2019
"A good board has a broad spectrum of views - which is more useful than a board solely comprised of optimistic posters, rampers or gatekeepers."
I completely agree.
As someone who isn't a regular poster, and isn't an expert on WSBN by any means, I found QEDs questions, and the responses very interesting. It's good to know which posters focus on the financials, and which posters simply resort to personal attacks. A good board has a broad spectrum of views - which is more useful than a board solely comprised of optimistic posters, rampers or gatekeepers.
Unbelievable the lengths some will go to to get attention.
Yep agreed!
5 posts in a row from filtered people/person must be desperate!
While you all bicker, we’re about to get through 16p!
20p next week looks nailed on.
Q.E.D.
I think the questions you’ve raised are valid. Unfortunately for most of them, nobody here can offer a definitive answer. Only theories, no facts.
Those invested have decided that’s not enough to deter them. You’ve decided it is and will take a cautious approach as to if and when to enter. Accepting you may pay a premium, but that’s the cost of getting the confidence you need in the company to part with your money.
Only hindsight will show which strategy was correct. But you’ve done what’s best based on your attitude to risk.
So in summary, nobody knows for sure the answers you need. Now we can all move on and discuss other queries. I don’t think the tit-for-tat responses from either side add any value to the board. So let’s just consider the matter closed and wish everyone well on whichever decision they make.
Hi PortfolioPower
"At the end of the period under review, the accounts show that Wishbone held cash balances totalling £3,002,547"
Although your probably aware of this already, that figure was the balance as of 31st December 2021. The company would have seen a fair bit of it consumed since then.
Hi 4kandles
Thankyou for your post.
I can't say that I've ever come across this statement before, but what a brilliantly accurate quote it is, with a humorous touch too.
I have been pretty distracted by some of the comments to be fair, but amongst the driftwood, there has been a couple of posters here that have put foward reasonable solutions, and a well 'thought out' investment case, which are worth taking into consideration.
Thanks again.
Hi Reggie
"Imagine being that guy worried about a bit of funding when we’re proving up a multi billion dollar resource haha!"
If you had actually managed to keep up with the conversation you would have realised that I also said.........
"I want to see the published results from Phase1 drilling first, but would also like to see how the company plans to fund Phase2, and its actual plans for it."
As a result, I'm already aware that I will be paying a higher price for shares in the company.........that is of course, if a mineable deposit is found.
"I mean you can see the gold in the pictures!"
What your seeing in the pictures is chalcopyrite. The company announcement hasn't mentioned the word 'Gold' for that reason.
Hi Traindriver13
"Anyone that comes on here expecting everyday investors to know exactly how company funds are being used and how future funds will be raised are pretty naive in my mind"
Believe it or not, I am actually one of those "everyday investors" you refer to in your post.
However, instead of just skipping past the research of "how company funds are used", I actually bothered to look at the companies finances. Knowing that, I then looked at the companies current activities, and as a result began to search online for the average cost for Diamond Core and Reverse Circulation drilling.
These few small steps allowed me to better understand "how company fund are used". The result of that was to recognise the potential of a cash raise before year end. I explained all this in my first post.
I think what's "naive", is that you actually believe "everyday investors" aren't interested in the details of their investment.
"If someone is nervous about investing, I suggest you stay away and buy premium bonds"
There is a huge difference between someone who is nervous about investing, and someone who is calculating the timing of an investment. I'm sure there are many posters here wishing they had timed their investment better.
Flashheart
"Yep, had the prick filtered from an early point. They're easy to spot and naive enough not to realise as they assume that everyone elses intelligence levels are down alongside theirs lol."
Thanks for that.
From the RNS 30th June 2022
Financial Review and Financing
"At the end of the period under review, the accounts show that Wishbone held cash balances totalling £3,002,547"
Well the simpletons as you call them are making good profits here whilst your hero of the intellectually driven posts is watching from the sidelines. Go figure.
QED, I imagine you've seen this before...
“Never argue with stupid people, they will drag you down to their level and then beat you with experience.”
? Mark Twain
They're trying to use up your energy so that you go away.
The cheerleaders, self-appointed ayatollahs and stock promoters are plain to spot on these boards. Then there are the 'don't ask difficult questions' 'impossible to know' type simpletons for whom WSBN is just the latest exploration minnow to worship having lost their shirts on many before.
I'm thankful for your intellectually-driven posts and for asking the difficult questions. Everyone should question their investment choices - especially those with a track record of failure. GLA
Anyone that comes on here expecting everyday investors to know exactly how company funds are being used and how future funds will be raised are pretty naive in my mind. Nobody on this board will have an idea of how things will pan out, this is a risk/reward company. Funding will be required in the future, there's no doubt about that, how, remains up in the air at the moment. If someone is nervous about investing, I suggest you stay away and buy premium bonds.
Yep, had the prick filtered from an early point. They're easy to spot and naive enough not to realise as they assume that everyone elses intelligence levels are down alongside theirs lol.
1plus1
Although some clearly less inquisitive posters here cant see the importance of knowing a companies financial position, and therefore, struggle to differentiate me from a deramper, I actually happen to agree with the majority of your fair and balanced post.
Infact, I'm on the investment sidelines (If you like) for much of what you've just mentioned. I think our only difference in veiw is on the timing of this cash call from the company.
I respect the fact that some investors are optimistic, and have already highlighted two such potential alternatives to solve the funding gap, and although these alternatives aren't guarantees, they could happen?
However, from my own point of veiw (A current sideliner) It would be foolish of me, for the reasons explained in the first post of this thread, to ignore the companies current financial position, and place my faith into alternative funding options that may not come true. The result of that would make me a victim of a cash raise I had calculated, or seen coming.
I'm here on the sidelines to watch how exploration on the Red Setter licence area develops. I want to see the published results from Phase1 drilling first, but would also like to see how the company plans to fund Phase2, and its actual plans for it.
Iamrich
"do your own research stop asking people on a board if your so smart"
Ummm..........I actually had 3 questions for the board originally, because I didn't know the answer??
Honestly, when I read your posts, it's like talking to a character from the film Idiocracy. It's pointless.
Go and look for some Electrolites.
1DAYMAYBE
"of curse they will look into selling part of its 100% owned assets for cash & keep as much as they can moving forward"
Is that the plan?
The company plan could have been to raise enough cash through the issuance of shares, in order fully define and measure the 'could be' resource (maintaining its 100% ownership) and then sell the entire asset, giving the company the ability to fully fund its other projects?
Now, returning to 'The Plan' you've just pointed out (18 hours after asking) can you please point me to where the company has mentioned this?......or have you just made that up?
Thanks.
QED yes mate do your own research stop asking people on a board if your so smart, if you want to listen to people on the board then listen to what everyone here is saying,