Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Hi G_G_G et al,
The SCM subscription arrangement is only for 21 million shares out of 300 million or 7%.
It would take weeks to build up a number of 'non-reportable' less than 3% stakes..and I'm pretty certain the broker would notify his suspicions to Elphick, even if AT didn't.
And the inevitable price drift upwards in the interim would be counter-productive for the 'slowly slowly' buyer(s), surely ?
And what point a material stake in ZIOC unless you know what GLEN's going to do ?
IF GLEN does decide to sell off, it would make sense for THEM to buy ZIOC and 'flip' the whole Project (charging a premium, of course, for presenting the buyer with a much 'tidier'/ more 'confidential' - if that were a consideration - deal).
All IMO
ATB
NKOTB, we can only hope. I was saying this months ago when they started selling the first tranche i.e. that some 'connected' parties would be able to buy a few % of the company without shifting the SP. Unfortunately the shares are obviously being dripped into the market at a glacial pace so would suggest there's no connected parties participating. The situation is quite ridiculous given the current and future IO market, combined with the worst Sino/Aus relations in recent history. I simply cannot get my head around the barriers that are stopping this project being sold.
"..Congolese get 10% .." of the asset, so why not ....
Acquire a piddly £5m worth of ZIOC shares via hidden holdings of sub 3% .... plus their 10%, would get 25% of the ZIOP ..... WORTH MULTI BILLIONS $$$$ ...
Would not be too difficult esp if you take large tranches of the recent Subscription Agreement and have been slowly slowly catchy monkey over the last 5 years.
Then give the nod to develop the mine, so "..‘ Are there dodgy Congolese f@cks making life difficult because they're not getting their cut?’..." Make so much more $ this way than a few million or so upfront.
AIMO
The Congolese get 10% of profits, so you might think they would be keen to see the project started.
On the other hand, a sale might be an opportunity for them to sell their 10% for an up for a upfront payment.
GGG
‘ Are there dodgy Congolese f@cks making life difficult because they're not getting their cut?’
Wouldn’t be surprised, they are not renowned for their goodwill
https://www.transparency.org/en/cpi/2018/results
Think a poster commented midweek that there is still 25 years left on the lease.....we better get comfortable!
I'd honestly love to know wtf the issue is with selling this project. I find it impossible to believe that Zioc wouldn't be sellers. Same goes for Glen. Are Glen being too greedy? Are China being too tight? Are there dodgy Congolese f@cks making life difficult because they're not getting their cut? Whatever the reasons this whole charade is getting tiring for everyone. Once upon a time the SP would be rising fast into an AGM. We're dropping. And have dropped with every idiotic piece of 'news' that Trahar has released over the past 2 years. It's time for Zioc to sell up and move on. Elphick and co need their heads examined if they cannot see this is what needs to happen. It has never been a better time to sell a project of this scale and if they don't jump at it now they run the risk of missing these perfect conditions.
99icecream
That is exactly what I was thinking.
Personally, I am not expecting a sale until it is obvious that the world economy is recovering from Covid 19 (in which case the forecast of future iron ore prices will be much higher).
The point about the impact of additional production on iron ore prices is that it makes more sense for a Chinese steel producer to buy (Simandou or Zanaga) as they would benefit from lower prices vs. pure miner (e.g. BHP, Fortescue, Glencore).
There's nothing to stop someone buying the Zanaga Project at a bargain price and biding their time. Meanwhile the rest of us can get on with our lives. Maybe £1 isn't too much to hope for?