Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
No apology needed. I was in for a similar amount. My due diligence amounted to similar loss but would go back again to RNS and calculations and believe they were reasonable. Simply Wall Street also had £1.30+ for very long time. For this to go soooooooo wrong is either criminal or the most significant level of inept leadership and management in the history of the oil business. Everything, court appearances, purchasing Cuda to gain 100%, GGS, JV, pipe work etc all looked like it was heading in the right direction…
Let’s hope, if it was inept there is hope of a reversal.
And that was my last concern in relation to the reported potential default - they will need additional money; how much we do not know… However, the only group willing to lend has been “our world class financial institution” Cowen Nov 23, Anavio. On that basis, they may but at what price? I would question whether there is a mechanism for them to secure additional funding (that this is essential is not in doubt raised production could have superseded this but no additional gas injected) that does not lead to further dilution and reduction in share price. Of course, if they are diluted and share price falls BUT they can then buy gas to recharge the field then with production up they could become a going concern. Although, with more borrowing it is likely the break even point 2000 bpd would be higher. A strengthening oil price may help this. Remember John Cowen stated if they could raise production - this was taken has promise low deliver high - in hindsight he may have been over promising at 2000 bpd (notwithstanding the previous highs of 2700). I suppose all I am saying at this point this is a very high risk and there has been a great deal of blind positivity leading to immense losses - not just money.
Best to stare the potential reality Square in the face at this time to avoid being involved in another chart cliff fall.
I would always consider coming back in if the balance of risk changes tacitly for the better.
Sold holding two million+
Whilst it is true this could increase, the day to day trauma no longer seems worth it. How many times have I read comments suggesting it will improve from here. I even thought I had understood the pattern prior to last week. Invested even more to lower the average - only to find the bombshell RNA messages - YET AGAIN - smashed the holding.
This morning, I was pleased to see the sp improve and then sensed in auction it would fall. It has …
I think it is best to be extremely cautious around this share as NEXT TO NOTHING has been reliable especially positive expectations, the loss of money is almost inevitable given the share dumping by whomever - suckering in even more PIs
Just look at the 2+ year chart
In the hope of averting disaster for others
Would you invest the same amount today given the information available?
Has any key information in RNS form been shown to be untrue -raising at 4p only to find 2.Xp; new CEO new energy, focus on production PI value - already gone!; funded until end of Q1; and the biggy… increasing pressure in the field!!!! Without pressure no more oil will materialise, indeed it will gradually fall despite GGS. No increase in production, further pressure on going concern (that despite positive hope to the contrary has now really been doubled down) , those in the know then seeking every which way possible to offload their shares.
Of course , now I have sold, everything is likely to align and rocket but living in fear of losing even more money and probably all (Mcolls, cine etc) better to protect capital (what little is left) for another day.
Before auction this morning I could sell 2 million shares for more than a buy price - this share continues to be a mind f***
I have had enough of the toxic grip and consider this may be a dead cat bounce but once again I go back to the asset reported and this set of circumstances is unbelievable…
Not sure what to do for the best given such a great loss if I sell - manipulation here must be criminal
As this increasingly appears to be fraudulent on behalf of directors especially as a result of the data shared today that appears contrary to the earlier RNA from Mr Cowan. It doesn’t appear this has anywhere to go that is positive for PIs and I am amazed this did not fall again today as a result of the production numbers.
I wonder what the different perspectives on this contact with the Governor office would be. Please share thoughts…
Artemis - another of the very small number who seem completely genuine and with a splash of humour. Thank you for your NHS service - just about as undervalued as our share price. Looking forward to a better 2024 for all.
Thanks Cyprus - I am broadly in the same position. Bought at what I thought was the bottom on Friday… then realised in the afternoon another drop was afoot - I knew I should have sold but as ever didn’t. Caught yet again - even on my small trading pot trying to ameliorate some losses - that was a fail… again
All that being said, given the payment for CuDA and Atomic 5-7p should be the floor for this share. I just don’t get this other than massive trust, faith confidence frenzy.
Thanks a a considered response - perhaps more of that than the dire tones this morning would be welcome today.
ATb
Stats - I was really taken by a part of your post this morning:
with a Mkt Cap at this unbelievable low, there is certainly, or should be value here, how much who knows but considering that the company is worth way less than we just paid for the infrastructure and thus the confirmed reserves (not resource) are currently free, the land free, the gas in the ground free, the oil in place outside of reserves free, and indeed just about all the millions sunk in here to get us to a producer is valued at cents on the dollar
I agree entirely - it seems the disconnect is absolutely breathtaking - frankly utterly unbelievable given the assets. So … if what has been stated via RNS over time is actually true, the SP is here due to a calamitous crash of trust, faith and confidence, alongside warrant selling. If that is the case then there is reason for hope even if this is not the bottom. As others have said this relies on production and may be testing for months to come but not game over… I hope
If there is good news they had an absolute responsibility to balance the news today for existing shareholders. IMO unlikely to be good news at this time but may be no bad news either whilst awaiting field response. Equally there may be further bad news locking LTH in even longer and lower.
Cannot even say ‘onwards and upwards’ hope that all in deep stay healthy and can focus on something other than this almighty mindf**k
Banksyy - you posted an email - EMAIL: 17 December 2021
Was it genuine at the time?
I suppose this speaks either to blatant corruption and would be evidence in court OR a genuine belief by AM in the.field.
It may not make a difference here and now but may provide a sliver of hope if it was genuinely received from AM at the time.Those very issues to which he referred have been overwhelimingly addressed suggesting darkest before dawn moment (there have been many of those)
I do feel I am sat in the departure lounge in the last chance saloon with all the doors locked and barred awaiting the roof to cave in BUT why go to the trouble and expense of doing all takeovers, engineering etc It doesn’t make sense but they may also have dug a hole too big to get back out of. I don’t know and will hold. Good to know your thoughts though…
Nothing makes sense - in any direction. Therefore, likely to have been lies in all directions including potentially to bond holders. On that basis the sooner we get a moment of truth the better - CEO one way or another - lead.
Something else …. Given the relentless experience here, no news means only bad news and any news means very bad news. I would suggest that no faith, hope or expectation should be assigned to the future of this company given the absolutely corrupt manner in which they have shafted shareholders from start to finish.
Looking for positives today is based on absolutely nothing and YET AGAIN is likely to lead to THE LOSS OF EVEN MORE MONEY.
There was an opportunity to provide further reliable steadying information this morning and they didn’t. And before someone states - sell up then mate - it is no longer worth selling due to the corrupt behaviour of this company. Even if they did have some news that was positive - it was not shared therefore even more LTHs probably sold at a massive loss - corrupt again. Shares sold on Friday must have been insider trading - corrupt again. The best thing that could come out of this is prison sentences for BOD
Sadly Llewelyn, check my post history. The posts this morning are from a PI (me) buying in from Aug 21 at 40p+. Again, I was seeking reasoned and reasonable debate given the apparent disconnect between SP, actions of bond holders, Copl communications, boards changes; infrastructure changes, the reported (and independently confirmed) asset.
Surely it is better to debate and look honestly at all perspectives than entrench with a particular view point no matter what.
So… my interest here is simply reaching my break even again (20p +) therefore onwards and upwards is stated with an increasingly sorely tested trust, faith and confidence in the company to deliver what they set out to deliver. In fairness, I see they probably had Hobson choice and were screwed by Anavio and were powerless to avoid it but then Hadron was a similar story. So the big question is, given we have been here before thinking it cannot get worse, can it, will it? I will not be selling on Monday as I will stubbornly hold until bust or boom (aside from a small trading pot). FWIW I was concluding March 24 for a significantly improved SP based on the field being fully charged; winter topside gear and financial mechanics dissipating by then - hopefully 15p+ That doesn’t however mean I should enjoy days like Friday or raise legitimate questions.
Are COPL working in partnership with Anavio - I believe they have board members therefore they know and act accordingly - that feels like insider trading though.
Why sell soooooo many shares if things are heading in the right direction? IT MAKES NO SENSE.
Rather than blithely dismiss legitimate questions from a legitimately invested PI, perhaps properly engage and that may help everyone get a better handle on what is happening and probably sleep a lot better.
I look forward to positive news and a vertical rocket fuelled rise but after Friday it doesn’t feel like that - although that was the very situation in September when it returned to 3p plus. Small pumps and dumps are no use unless trading.
The truth is I cannot work this out and hoped this Bb board would provide different perspectives in the spirit of debate. What seems to be missing is not the setting of of the different elements but how they actually come together and indicate the future.
So… please engage in the spirit in which this post is meant, lose the deramper, troll, ramper rhetoric and work with other investors to better understand the possibilities here from terrible to brilliant and everything in between. That, I believe, would be a useful bb. It would not sucker in new investors without good reason and it would not lead to those invested to sell to early or too cheaply.
ONWARDS AND UPWARDS :-)