Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Joeman1 - I agree that the modelling work is needed asap to prove that the discovery is economic to mine. I don't know what CB was thinking releasing this news without having the modelling report to go with it and prove we have a valuable asset that someone is going to buy (even if not for as much as we had hoped).
I got the impression that they want to tinker with the modelling/study when they get it back to see if Ascot could be included in one open pit. That will mean more delay and is not acceptable. They need to release the study showing RC is viable and then say they are now looking to see if Ascot can be included as well to further improve the economics.
What a mess.
Nubi. Time will tell if the project is sufficiently viable for shareholders to see a decent profit rather than be another AIM lifestyle company.
But whatever one thinks about that, it's not what it said on the CB tin. All I saw in the podcast was a man who has persistently misled us and the market and is now changing the narrative without as much as an ounce of mea culpa.
And the SP says it all.
Exactly..... 2% of in ground value is nearly $180Million ..... which in itself is a tidy amount (if not quite the $400million I was hoping for).... and with the higher grade mineralisation being within the first 200 to 250m of surface this has a high chance of a sale.
If you want to challenge the negative rhetoric that the under target resource has caused, get the mining study accelerated to as early as you can next year.
Best way to challenge the opposing view..... is to prove it wrong.
GLA
The acquisitions of these small ‘producing’ mines they are looking at in Zambia. From their future growth strategy detailed in the audited report, The aim is to identify deposits of 1-5 years production capability in a safe jurisdiction at a rate of about 50,000 tonnes per year, that are near to production and importantly, ‘not too cash front end heavy’ and are nearby to offsite processing facilities.
Could the release now of RC estimate have anything to do with the acquisition process of these deposits? Such as toward credit worthiness obtaining the funding from elsewhere. Any interest would be cheaper than the effects of share dilution to market capitalisation.
Maddog - this is not what was said, at all. The "summary" you allude to was another guy saying "looking for a partner whether it is the one that is already in the agreement or the new one". Obviously he is referring to the AA option or a similar "partner" meaning the buyer. Stop bull****ting.
Supply and demand is key to this and location, does anyone know what is out there ? I think total over reaction to this news , still a viable mining potential project
By trying to talk himself out of a corner he's talked himself into one.
To be a good liar you need a good memory I was once told.
The fat lady is clearing her throat Colin.
Sieble. In the latter part of the interview Colin talks about buying producing assets and they discuss moving to mining BR with a partner. After 27 minutes Colin agrees with the summary statement about producing themselves with a partner.
Both selling BR and mining themselves options are on the table according to the podcast.
Indeed Matalhead ...and well put
Andrew, I do hope you reduced your risk level here over the past year, or even liquidated totally. This is not looking good anymore. Africa won't ever come to anything. BR will fall short of the earlier 2mn expectations for a trigger. AA will just say, "Pass".
It was exciting here for a brief while, though, wasn't it.
He hasn`t got a twin brother by any chance, because we have heard so many different quotes over the last 2 years?
Its not what is said on the bulletin boards that have sent the SP diving btw. Perhaps it has something to do with Colin's credibility ?
The market also didn't like what was said in the interview regardless of Colin's hurt feelings. Yup I heard the bit about getting a partner too.
Where does say "we need a partner?" FFS, just listed to the interview.
The message is quite clear - they can prove 2MT but need to spend 5-6 million on drilling. On the other hand, they are very comfortable with 1.1MT figure, Ascot and the decision to mine which will trigger the option.
If AA does not buy, they will be talking to other parties.
That's all there is really. No wonder he is gobsmacked by these bulletin boards.
Nicetomichu: “bad news was priced in a lot at the previous 3 odd p levels too. So, I believe there's a considerable overreaction here”.
Agree with both statements, if you’re viewing share price as a pure reflection of asset value. But on AIM it very rarely is that. And certainly not in the aftermath of big news. It’s driven by instinct and emotion, and crucially by the simple determinant of whether there are more buyers than sellers or vice versa. The RNS reported a good big resource. Disappointing grade overall but with higher grade bits. Top jurisdiction. In a vacuum, a decent result. But… It was never going to get the AIM punters excited. Which means: no buyers. And of course there would be some sellers. Therefore: price down.
Remember him saying we definitely won't JV!
Latest interview....we need a partner!
What a 48 hours can do when you don't manage expectations from the bat. As a few have said today, it's the words of the boss himself that has got us in trouble.
It's rather frustrating that what would normally be a success story was overshadowed by some ham fisted PR coordination.
Still holding but as previous poster said - blood pressure up.
Andrew. Impressive forensic skills. Just had a quick listen to the podcast. Didn't sound as bad as the shareprice reaction. But then left with the question - so where are we now ?. Are we going to mine BR ourselves with a partner ?.
Think l better go back to sleep until the next RNS or my blood pressure will also be exploding.
This is a good illustration of what annoys me about CB. Gas lightning and no accountability:
Todays interview at 5m .20 sec
https://audioboom.com/posts/8201622-midweek-takeaway-with-colin-bird-executive-chairman-of-xtract-resources-aim-xtr
"If I just went chasing THIER magical 2mt..some people have got it in their head that the 2m is magical.. "
Interview last year at 45 secs in
https://www.share-talk.com/colin-bird-executive-chairman-of-xtract-resources-xtr-l-interview-2/
"We feel that that magical 2mt which triggers the Anglo option is very achievable"
So last year HE used the term magical, then today he implied it was the SH who used the phrase and is critical of the term.
Its a minor point in substance, but illustrates his inability to take responsibility and moreover, try to blames others.
Btw, the full interview last year has not aged well. Best not to listen to it all as it may cause offence :)
How to join this elusive telegram group?
If anyone wants to message me I'm on the telegram group as Charlie zzz
I do recognise the good moves Colin has made to move the project along in Oz and get Manica up and running, but I feel he needs to hear that this latest chasing of new rainbows is not acceptable to many significant shareholders and he needs to listen to that :)
Empress Royalty have paid 3 million dollers for a 3.35% Royalty over manica gold production.After 96,000 ounces have been produced the royalty reduces to 1.25% for the remainder of the mine life. Xtract have I believe 23% of the gold produced as well as alluvial gold contracts on top market cap 21 million pounds with bushranger and 8 billion pounds of copper as a side dish.
Looong time ago CB could have been the perfect Snake Oil Salesman. Let's face it some of us got caught at 20 p ,encouraged by his perfect sales speech, some at 7 or 10 etc etc. It's obvious XTR it's a share only good for people skilled in trading ! All the massive recent purchases will find a buyer at a slightly higher sell price and the traders make a living! Nothing wrong with it ,I am just surprised that day after day, month after month,
year after year some investor want to make you feel like an idiot if you don't buy continuosly on the dips in order to become the millionaire that they think
will be one day. WAKE UP ! The only one making money out of this magic snake oil potion is : you know the name. No offense to any one just so fecking upset one more time
clearly not with shareholders' interests.
Let's also remember that CB, and most of the board, are Part Time.
Galileo, waiting for news, Bezant, waiting for news, Ken, years away, AFP, not much, TIR, different arena.
Where are CB's, and the Board's, priorities?