Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
With the quiet rise yesterday it's going to be very interesting to see if it holds today or even increases more.
Frankly given the history of the SP here holding that value would be a pretty strong sign at end of play today.
So mediation lead to an agreement, yet this seemingly can't be settled/completed until the Good Meddling B'stards Law Project have their day in court, in May.
Most likely also what NCYT are waiting for as I've been saying for sometime.
This is now just a game of politics, not actualy contracts or disputes.
The last RNS from Abingdon included the following re the DHSC update. I think a few people have read this and got a bit excited a little too early.
Abingdon has not been paid invoices totalling £8.45m by the DHSC for lateral flow devices delivered to DHSC in January 2021 and for components purchased on behalf of the DHSC at their request in 2020. Following mediation, as required by the contracts with the DHSC, the Company agreed non-binding Heads of Agreement with the DHSC on 9 November 2021, however, the Company still awaits payment and closure of this matter. The Company is looking forward to the judicial review scheduled for May 2022 when facts in relation to the arrangements with the DHSC will enter the public domain.
"The DHSA dispute should also be settled by mid year".
Please provide justification for such a statement. It's pick a date time... any date in the future will do because all previously picked dates have come and gone.
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There is a feeling that the DHSC dispute is being linked to the GLP Judicial Review that is being heard in May this year. The belief is the outcome of the dispute will be determied by said JR.
We'll know in May/June if that's the case.
If it isn't then it could simply drag on for years getting kicked down the road indefinitely. Not a good thing.
I think we underestimate the effect this dragged out dispute is having on every part of the company right now.
have any of the companies in dispute with the DHSC threatened or started legal proceedings? we have been told for 14 months ncyt has a strong case yet the negotiations continue (apparently). if the previous ceo and especially the current ceo truly believe what they have said in numerous RNSs, it's time to sue the DHSC (or am I being naive)
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No one really knows anything other than those directly involved in the dispute so the following is simply an opinion.
There is clearly a non disclosure clause.
There is likely to be a non litigation clause. This may or may not be tied to a future event (that event in my opinion os the outcome of the GLP Judicial Review which I hope is not kicked further down the road than May this year having already been moved from December 21). I've been saying this for so tie as it looked obvious to me.
It is telling there there has been no news from any of the companies tied up in the dispute. As time marched on it strengthenes my belief that it's tied to the GLP.
have a feeling it's now entirely political and has very little to do with product whatsoever. I don't see that as a good thing as it has the potential to drag on indefinately.
I don't think we'll see anyone sue.
I still feel the entire basis of the DHSC dispute is political rather than product related.
You need to remember when dealing with Governments and national entities, whilst we see them as one and the same thing, each internal department within that organisation is mutually exclusive.
What we see as obviously linked, they compartmentalise into two completely different entities that have no link whatsoever.
I still assume that nothing will happen with the dispute until the GLP judicial Review is heard (hopefully not kicked down the road again beyond May).
Having thought about today's RNS I wonder if the BOD are pretty positive about the outcome of the dispute to a degree that they feel the necessary SP will be hit and enable them to hit bonus territory reasonably quickly.
I guess we'll know when we know.
Nothing can happen until the DHSC situation is resolved. I knew it was holding back the business, but I didn't realise how much until the recent constructive thread breaking down the finances as much as we can with the information provided.
It actually made me feel better about the share to be honest.
You can't steam ahead spending/investing the cash pile with a dispute in place no matter how confident you are it will be settled in a positive manner. So that stops any M&A in it's tracks. In either direction.
Also understadn there can be little in the way of updates with this hanging over the company, they are effectively shackled until it's resolved.
So reading that I understand it as follows:-
Total Q4 20 revenue in dispute £129.1m of which £24m has been withheld - leaving a net £105.1m
Delivered and invoiced in Q1 21 but unpaid a further £49M.
So in short.
Absolute catastrophic worst case scenario is repayment to DHSC of £105.1M
Absolute best case scenario the DHSC settles in favour of NCYT and pays the company £73M.
Realistic outcome somewhere in between the two leaning towards a warranty claim of £19.8M (so if the arranty route was taken I assume the DHSC would then have goods replaced and then pay all invoices arriving at a net payment of £53.2M to the company?
'The dispute primarily relates to Q4 2020 revenue totalling £129.1m in respect of a specific product supplied to the NHS'
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It boils down to how much of the £129.1m has actually been paid to NCYT.
I was of the understanding a substantial amount of the money was being witheld unde rhte dispute which is why I can;t get my head around why the company would have to repay money it hadn't even received.
What are the actual black and white figures around the dispute? Do we have a difinitive breakdown of what has been recieved by the company of the £129.1 in dispute?
As like mentioned above I'm working on a figure of circa £40M which has already been accounted for.
FFS they are holding it until they have to give it back, they dare not touch it.
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Give it back to whom and for what reason?
I am invested here but unlike you lot I trade it and have done well, I do regularly express opinions around where I think the SP will be but they are just my opinions!
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There's that "you lot" phrase again, how do you know what other people are doing with their holdings? Maybe reign the arrogance and post in a less combabtive manner and you'll likely find feedback and discussion more forthcoming.
All these *******s calculations about cash and share price ffs!!
Why do you think it is where it is?
What can’t you lot see that the rest of the investing world can see ???
Maybe your large losses cloud your already **** judgement hey
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You lot?
Who are you lot? - Shareholders I guess.
Two questions.
1/ What can we see that the market doesn't? Sales, profit, no debt and cash to fund growth.
2/ Why would you invest time on the BB of a company in which you clearly don't want to invest money?
No not a deramp, not a prediction.
With 71m shares in issue, a share price of £1.43 equates to an mcap of £101m.......or equal to the cash in the bank.
Roll up roll up and buy a free company at £1.43.
I'm not sure I've ever encountered this in a healthy profit making company before.
That's simply because future growth/profits is currnetly an unknown. You can't price in or reflect what you don't know. (Risking a Donald Rumsfeld moment here).
This is now a bottom drawer share (if you're underwater like many of us are). Do your mental health some good, tuck them away and check in every so often expecting to hear nothing in the way of news other than standard periodic updates.
Anything other than that is a nice bonus.
This could be a two year turnaround at minimum.
21ATS, it's in the RNS last year. If the dispute was about how the contract was awarded, why make a £20m replacement warranty in the accounts.
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Good accounting practice, making an allowance in the correct tax year for one of the possible outcomes.
Your assumption is the DHSC are actually in charge of the timelines and decisions, I don't think they are I feel a "Higher force" has put everything on hold temporarily. I think we'll find out more mid summer. I'd be surprised if anything with the DHSC dispute is settled or even discussed before that.
I hope I'm wrong.
The current consensus I believe is that the dispute is due to inefficient products and processes. The GLP is all about the unfair awarding of contracts.
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Where do we get this information?
My understanding is we've really been told nothing of detail other than there's a dispute.