Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Highlander47 I have no bad feelings towards you, you seem like a nice bloke, but unfortunately you failed as a director. That’s just fact and not many people including I would listen to anything you say. I am certain once this stock blasts multiples of the current price you’ll be gone.
Higher=highlander47
Higher, from an ex director who wasn’t fit enough to run the company. You’re the last person I’ll listen to.
Thank you highlander.
So does this take zen off the hook for old liabilities At AAOGc (I’m still assuming that they were not paid)?
Itisagame how did you come up with that theory. Tilapia is still there and will come to fruition.
itisagame - ZEN still have leverage; they still have the $5m claim....presumably if they make enough noise they can delay any new licence award by firing off legal actions which bog everybody down in Congo and international courts....or they can let the claim die in return for a new licence.
Looks to me like a face saving exercise by the Congo Ministry bureaucrats - they need to show their bosses that they have punished AAOG for their miserable performance by withholding $5m and not renewing their permit. If AC allows the AAOG claim to die by liquidating the company after transferring the assets and people to Zenith Congo it's possible he'll be awarded the new licence for helping out.....
What a load of bull they lost it and now zen has no leverage either.
"We are looking forward with excitement to our journey in the Republic of the Congo following the possible acceptance of the Offer we have submitted. The key words here are possible acceptance ...nothing is over the line until it’s over the line ..especially in Africa !
Believe its correct to say that SNPC and AAOG were at odds on the debt issue.
My presumption is this puts the debt issue in a box of its own to be negotiated by those parties whilst Zenith Congo and SNPC get about the business of the renewing/working the licence.
Key elements to note in the RNS are IMO – “Zenith Congo has been established at the request of the Ministry of Hydrocarbons for the purpose of receiving a new 25-year licence”.
This is not unexpected and is all part of the process that the company needs to go through to get the new license sorted. It also seems evident that the only reason for keeping AAOG Congo alive is because this is the entity that is owed the $5.3 million.
Hopefully we get an update soon on the situation with the license itself.
Can't argue with that BOT.
Wonder if this has been about separating the debt from the licence? AAOG zen will be owed the $5.3m debt and Zenith Congo run the licence?
Always smile and mirrors with a Zenith RNS.
Who to believe TW or AC - what a choice!
No Tilapia being handed back whilst a subsidiary was formed was just a part of their negotiations and SP should have kept their ill informed noses out imo.
AC is complaining about misinformation being branded about in his RNS. Yet it has taken that misinformation to come out for him to finally tell the market Tilapia has been handed back to the government. Of they hadn’t tried to hide the information then maybe the rumours wouldn’t have started. Its time AC stepped up and made his share holders a return on their investments as everything so far has been a failure.
https://twitter.com/Cassiopeia_ltd/status/1292710405467406336?s=20