Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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BTW Anglo-American just released an RNS that stated they see Copper leading the way for them in the future. Interesting statement considering the speculation on here in the last day or two.
"We see material opportunity for Anglo American to continue to set itself apart in terms of the performance of our diversified business, further enhanced through sector-leading 25% volume growth over the next four years, led by copper and the platinum group metals."
https://www.londonstockexchange.com/news-article/AAL/anglo-american-positioned-for-a-sustainable-future/14981696
Currently NT to buy on Interactive Investor and has been for a while.
You’re welcome Jezzoo
If the remaining phase 1 assay results are average or poor - accepting one persons definition of average or poor might vary decently from the nexts anyway, so somewhat nebulous granted - then CB releasing that IP survey RNS ahead of those may have been a good information management play by him imho.. worst case, I'd guess this share price could even have gone back into 3p's via - poor - assay results first way round RNS posting... whereas, worst case, this way round it may stay strongly in 4's .... Also he'd prefer to get that recent placing away without much background share price negative noise too, which was achieved.
Obviously average case and good etc cases for those assay results would be markedly better for share price versus afore scenario.. and any of those assay result outcomes could of course happen too. ( And collation of assay results can take a long - long.. even including re submission for double check purposes - time perhaps :-))
"Disclosures in relation to shares"
Thanks for the info JDAU
Interesting that CB hasn't taken the 10m options at 2p or less :)
12m shares and 20m share options....
options:
3,333,333 at 1p
3,333,333 at 1.25p
3,333,333 at 2p
10,000,000 at 10p
>> three plausible explanations
1) Batches: I think this is difficult to justify unless the batches are held at the lab and anyway is really just a variant of 2.
2) Bad results: As you says, seems counter-productive to just hold on to them. The uncertainty is probably doing more damage than mediocre results and he has to release them eventually. Bad is better than Delay + Bad.
3) Negotiation: I think this is a more likely outcome (if the assay results really are available).
We also have to bear in mind that CB has TWELVE MILLION shares, including a million he bought less than a month ago, after the IP survey began and eleven weeks after the completion of hole #2. He has a significant incentive to do the right thing for the share price.
The fact CB bought shares on April 19th (11 weeks after hole 2) sort of suggests it really is the lab. Buying based on known assay results and then holding on to them for another month would be very, very bad :)
Steve4077 - I think the following is what you are referring to from AIM Rules:
‘ Reporting of price sensitive information
AIM Rule 11 requires notification without delay of any new developments which are not public knowledge which, if made public, would cause a significant movement in its share price. The Guidance Notes in part 2 of the AIM Rules make clear that this means information a reasonable investor would be likely to use as part of an investment decision. There is an exemption set out in the guidance relating to transactions which are in the course of negotiation where disclosure might prejudice those negotiations, provided that those who are aware of the information (e.g. the other party to a negotiation and professional advisers) keep that information confidential and do not trade in the company’s shares. The Guidance Notes for Rule 11 also allow companies not to notify information about impending developments in certain circumstances, provided that this information is kept confidential. Companies choosing not to make such information public must have effective procedures and controls in place to ensure confidentiality and minimise the risks of a leak.’
So..... given there is no dispute over whether the assay results represent price sensitive information - they DO. There are only three plausible explanations in my view:
1. CB can use the specific wording in the RNS dated 6.4.2021 to justify NOT releasing the assay results of hole 2. Ie. They are ‘batched’ together with ‘x’ number of other holes - if it IS this then this is my beef - that it is patently unclear what the ‘batching’ means? I think this maybe his get out clause but it’s not that simple IMO because the information provided was too vague and unclear
2. CB has the results and is withholding them because they are poor. But this seems completely illogical and counter productive because the SP has already been adversely affected by the uncertainty
3.CB can use the exemption in Rule 11 if the company is in negotiations with a third party regarding a possible transaction.
I would like to think the answer is 3. but the cynical experienced investor in me tells me it’s not ....
OFC, a single statement from Bird as to why the Assays' are so seemingly late would put all this conjecture to and end..
FWIW my take is that CB probably knows the market will not be impressed with Phase 1 results hence the RNS yesterday about an independent company to lay down some options for a cheaper open pit in an attempt to possibly retrieve something. Almost a "ok we didnt get that but hey not all is lost we could this ?" The uncertainty I have stems from bad memories of situations like the Moz gold shenanigans. LTHs will remember the theorys discussed about that delay before we finally found out some funds were wasted back then. The truth is we just dont know but what is certain is that the current uncertainty is delivering doubt. However I hope all is well and am choosing to hang on in here.
Jezzoo -
"Disclosures in relation to shares
'Dealing' is widely defined: the buying and selling of shares, the grant and exercise of options and pledging your shares as security for a loan are all disclosable. Similar rules apply to share dealings by directors of AIM companies."
Ref: https://www.pinsentmasons.com/out-law/guides/disclosures-and-restrictions-on-dealings-in-shares
"· Assay results from hole BRDD-21-002 onwards are expected to be received in batches over the coming weeks and will be reported as they are received and collated"
https://www.lse.co.uk/rns/XTR/completion-of-phase-one-drilling-at-bushranger-8sri11xtzfsp5lw.html
What's so hard to understand? If you're still struggling to get your head around why we haven't heard anything yet, I suggest you look up the definition of collated.
2) CB has the assay results (possibly for weeks) and is not releasing them because they would affect the share price (i.e. bad). This is blatantly against AIM rule 11 and would be very bad for his credibility as well as being illegal.
I think it would be easy to get around this on Steve. The company could just say they are in the process of 'compiling' the results.
I wish we could Ella but the facts are, prior to the bushranger drill phase CB had a diabolical record for delivery here. In fact he did not once meet a deliverable from he date he took over from Jan until P1 drilling started, I won't give dates but some a, literally, years off his timelines . I thought he'd turned over a new leaf, maybe not.
This is the main reason I've become very suspicious of the assay's; Bird has a long record of trying to hide bad results. I do really hope I'm wrong here I could have sold out with a tidy profit when we were up in the 8/9p region but greed got the better of me.
>> I hope CB doesn't expect to be able to keep the assay results until delivering phase 2 drill results.
There are only three possible scenarios:
1) The assay results are not back from the lab (15 weeks since hole 2 was completed - draw your own conclusions)
2) CB has the assay results (possibly for weeks) and is not releasing them because they would affect the share price (i.e. bad). This is blatantly against AIM rule 11 and would be very bad for his credibility as well as being illegal.
3 ) CB has the results and is using the exception under rule 11 that allows for withholding price-sensitive information if the company is in negotiations.
There are no other scenarios that I can see. Happy for someone to point one out.
Well even CB is underwater with his recent purchases, what's the period in which a change to a director's
holding has to be made public ?
Getting close to my average now.
ASSAYS ! good or bad if they are available please.
Drop the price > People pile their money in > Liquidity starts to form > Share price goes up
Or have I got the wrong end of the stick?
I think it would be reassuring if some of the LTH could cite an example (or two) where news was delivered very late but was better (or at least as good as) what might reasonably have been expected from the previous newsflow. I hope CB doesn't expect to be able to keep the assay results until delivering phase 2 drill results.
Steve. Great point. Time to judge your own investment theory and DD if any was carried out.
Cyber- also echo that point , the money raised are all under water and no way would they have given that amount without knowing what’s coming.
All in all I’m happy to hold and with experiences It tells me the stock always falls / has a shake out before the mobster charge ..... ( because I’ve been shaken out of many ) so now I’m staying put. Simples
>> I have been buying during the last few weeks and stand at my highest share total ever for XTR.
No longer true - I just bought another 150K. Although it hasn't shown up yet on level 2. I missed the 5p offer as I wasn't fast enough selling something else, but bought at 0.050849.
> Within the next 12-24 months XTR will be huge! Your nuts matey!
He's not nuts - he's just impatient. A lot of people will be the same given the absence of assay news and drifting share price.
This is the point where you have to decide whether your own research and judgement is better than those who are selling. Like I said earlier - its conviction time. Personally, I have been buying during the last few weeks and stand at my highest share total ever for XTR.
Its across the board today. I track about 20-25 junior explorers and miners and its the same with most.
which doesn't logically stack up to the broader external landscape nor their individual company circumstances / news in most cases
that's what leads me to believe game playing is afoot
No big mystery to this fall, next to no one is buying without the assay results which is perfectly reasonable- there’s always sellers every day for one practical reason or another.
colins enthusiasm only takes us so far - need those drill %s
If he’s held them back because they are poor it’s a huge mistake as we really have a right to know that and make an investment decision based on the facts .
I do find it difficult to believe that holes 2 and 3 results are not complete and with the company.
There needs to be a damn good reason for this massive and unexplained delay, would love to believe the negotiation theory, but why release that study yesterday in that case? Maybe puts more pressure on the buyer , but then again so would half decent assays as the price would pop up on certain knowledge of results.
Once again the only reassuring thing here is the 5.5 m raised from investors who are all under water .
papaduke
Within the next 12-24 months XTR will be huge! Your nuts matey!