George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Looks like it’s setting up a decent base to finally put the last 6 months of nonsense behind us.
"sewn up" - yes - I recollect comments going back into last year when ASX was originally programmed for September ish that getting the required number of shareholders was a done-deal. Events since then are likely to make their listing a very lively one - am looking forward to price action on launch. Very little day 1 liquidity given the size of the issue being made there. It'll be interesting to see how the two markets talk to one another, I imagine it could be a lively share in terms of converting across to the Aus listing.
Yes - will be a capital raise, dilution should be minimal, the Board is currently operating to protect the current shareholder base and the funds raised previously, i see no reason why they would go against that an unnecessarily dilute existing holders.
We need to remember that 30% of all existing shareholders are Australian - 200 may sound alot, but it could be that we need only 50 more for example.
63 brokers to speak to
170 institutions can be opened up, i would expect Canaccord and Fox Davies have this 200 number already pretty well sown up.
Yes - new issue cap - uk can participate but it’s tiny - enough to satisfy exchange listing requirements (200 local shareholders) - probably all of a few million aus all in - they wouldn’t want to over issue down here….
Can someone please kindly refresh my memory on the ASX listing? - is this going to be a new issue of shares on the Aussie exchange, and therefore incremental cash to the company but dilutive to the UK investors? If so, and assuming efficient markets theory (LSE - LMAO!) - presumably this is already somewhat baked into the current share price?
Very good webinar with Steve held yesterday evening.
ASX listing looking likely by end of June. Opens the company up to 170 institutional investors who will now be able to buy. Transformation to the market cap likely.
https://www.youtube.com/watch?si=CWvD_1q9FweC1nUo&v=P_V-Q1c4U2Y&feature=youtu.be
Good news of CleanTech, another step on towards clarity and the PFS, looking good :-)
Disappeared for 10 days? Do I have to sign in every day? I didn't know that.... FFS !
No Croq, I watch it assiduously every day - whether I'm in the UK or not! As I said in my post a few days ago, nothing has really happened enough to get the serious money interested. CTL just added to its debt position. And, unless those options were got rid of, the CTL was going nowhere anyway. When there is some really positive news , I will be as happy as you rampers. I will still be in this share for many years yet, so get used to it. Implants et al.
"Funny how you all go dead quiet when it goes back down again... and again... and again..."
Says the guy who disappeared for 10 days when it rose from sub-12 up to 16 and only returned when it dropped again. So transparent.
Perhaps most don't post because they realise this is a long play and does not need daily commentary and aware that the SP will fluctuate especially when there is no news?
Sure am dentures.
As someone said earlier RDonut, " You are so, so, funny ! " I'll bet you are a hoot at the WI meeting...
Yeah well this is likely to be a 10x stock in the coming years, these small daily moves, unless based on some new are totally irrelevant to long term holders, have a good one D :-)
Hey Daltry,
perhaps, if you are keen on eliciting my, or indeed anyones comeback, your time would most likely be more profitably spent scraping down your wife's dentures as opposed to posting here.
just a thought.
Funny how you all go dead quiet when it goes back down again... and again... and again...
Hopefully we should see us getting into the 20p range on the back of this, lots of news in the pipeline, we are seeing a nice steady increase in the share price as new investors start to take positions.
It is very positive that they have obtained unsecured finance to commence the payments on the licenses:
“ Steve Kesler, Chairman and Interim Chief Executive Officer, CleanTech Lithium PLC, said:
"Acquiring the 23 Laguna Verde licences under new commercial arrangements, so the Company has full ownership as well as control, is a prudent decision, which will support potential long-term returns to investors. The Company has also been advised that gaining full ownership of the licences will clear the path for the dual-listing on the ASX. While the timing of this decision has been driven by the ASX listing requirements, it was always planned to make these changes for commercial reasons and to provide our shareholders and potential strategic parties with clarity on the ownership position and amounts payable over time. The Board is pleased to have reached agreement with the Vendors on this matter and thanks them for their flexibility over the course of the past few months.
"Having been offered attractive terms by a third party to fund the first staged payment through a convertible loan facility, the Board felt it was prudent to take up this offer, allowing us to continue to focus our existing resources on our ongoing and planned work programmes. We are grateful to the new convertible loan note holder who has demonstrated real confidence in our plans.
"I would also like to recognise and thank our previous CEO, Aldo Boitano, for his crucial role in bringing both these agreements to a successful conclusion.
"Now that these changes have been made, we will look to dual-list on the ASX, with the relevant documentation on this now being under way. We will update our shareholders on this in due course when the application has been made."
Australian listing requirements are stricter than most involving extensive due diligence. The fact that the Australians require todays action to secure the listing is a big positive for me as is the fact that CTL have been able to obtain the finance to comply.
Just in case the pinned post dissappears :-)
https://www.lse.co.uk/media/CTL/gordon-stein-cfo-of-cleantech-lithium-explains-why-ctl-acquired-the-23-laguna-verde-licenses-5zszwsvx89vsnzd.html
Yes and if you look at every presentation there has always been a caveat about the option agreement. On the few times it's been spoken off / ghosted over its always been a bit of a meh... now dispensed with. No such other caveat has been spoken off wrt FB - the other two greenfields are altogether different animals. To my mind it's spring cleaning and I am glad of it - perhaps the holder was pushed along by the national lithium strategy - saw little more upside and so made for the table.
It's all available to view online in black and white, if memory serves me right it is all in the IPO documents
I assumed they already had full ownership. Was anyone made aware it was otherwise?
This is a neutral RNS, not really a plus point ..What if the options had been exercised?
Any other sneaky secret snakes to come out of the woodwork ?
Yes the full ownership rather than potential ownership of the licenses is a big thing and will certainly add to the clarity of the CEOL applications too, nice for Monday morning...
Good news - about acquisition
😉
Along with all the expected news flow we are due, it’s good to see lithium prices rising again.
http://www.dailymetalprice.com/metalpricecharts.php?c=li&u=kg&d=60
As also posted elsewhere,
Just trying to share this info in appreciation for the other poster's very helpful postings on this board.
With thanks and GLA
The next milestones:
1. Operating output data of the Pilot Plant (April).
1a. DLE process analysis results and is it to battery grade Li +99.5% with low impurities (mid May).
2. Listing on the ASX (with small raise) in May.
3. Latest LV Drill results (July)
4. Granting of CEOL (development permit) process July onwards.
With initial announcement/naming of which Salar's will be eligible to be developed,
And granting of CEOL in due course.
5. PFS
6. Offtake discussions (after PFS issued) by end of this year
7. Environmental Impact Assessment (EIA) by end of this year.
8. DFS by mid 2025.
info above mostly noted from recent video presentations.