Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Superpuffer
If you are as smart as you imply why were you buying so enthusiastically at 44p when you could have bought 57% more shares now at 28p ?
Sorry but I am a little confused...
@Superpuff (the magic dragon)
"28p share-great value. Happy days!"
Who are you kidding ?
Surely not those poor mortals who took notice of your ceaseless puffing in Jan/Feb this year as a strong buyer at 44p ??
How many more shares these people could have bought at 28p today rather than 44p then on your exhortations.
Is this, like ESKN, an example of your reverse Midas touch ?
As summer is now officially over didn't you mean an autumn roasting ?
Talking of roasting, your good self has been receiving some severe roastings on the ESKN site, I noticed, to such an extent that you had to resort to using your CV due to several posters there being less than complimentary to you.
Calm down dear, please.
All I want on this board (& I suspect many others want) is a sensible discourse as to why the SP has been trashed and what are its chances of recovery.
Taser
I think it is the close they gave them which is making it look much worse than it is, yesterday I averaged by buying some at 332.5, today I can only buy them at 325 so that is 7.5p or just over 2% down in reality.
Superpuffer
I note your regular morning salutations were a tad late today, was that because you were doing your deep breathing exercises before you could raise the normal puff ?
I ask because your regular puffs are becoming shorter by the day, nevertheless a welcome is still a welcome, which I accept with my usual polite grace.
It has traditionally been a high yielder & the family own a substantial % of the stock so they seem keen on decent dividend payouts, often giving a special divi as well every 2 or 3 years, not that I'm expecting a special any time soon though.
Oogle
I totally agree with you re BG trusts, they rode the wave but surf for them is no longer up, so they're beached, but I do think you are rather harsh om MRCH which, after all, has a totally different remit to BG whilst on the crest of the wave.
Merchants has always done what it says on the can, it invests mainly in the UK to give an above average yield (which it has for many years) and to protect capital, which over the last 10 years it has certainly done.
Horses for courses, I am in MRCH and happy to be so, their yield compounded has certainly beaten cash over this QE period which was so favourable for the BG surfers, but as Buffet said, when the tide goes out you see who is not wearing bathing costumes...
But on the other side of the coin another old listed pub in the Wolverhampton area suffered what has been reported as arson a day or two ago which in itself could indicate trade was not as good as super puffer is suggesting.
I prefer not to be a "Mystic Meg" with figures before they are announced but to analyse them when they have been announced.
Freedom
I agree, I've also topped up today but at a little higher than your price, sadly.
I do think that you are being much too harsh on the divi at 4%, the historic is 9.78% by the FT but if each quarterly divi is the same as the recently reduced 3rd interim which is now 2.25p it is not unreasonable to suppose the divi will be 9p for the year which at the current price is a shade over 8% yield.
Morningstar are also forecasting a reduced divi but they are suggesting 9.6p, given the cash JIM are making from their customers non interest bearing accounts they should still have a healthy year coming up with base rate over 5%.
Also worth bearing in mind that it is quite shrewd to show a divi cut/bit of pain when you are being looked at by the FCA.
Taser
I think you hit the nail on the head re illiquidity in the shares, irrespective of whether a company is doing well or not, funds which specialise in small/micro cap stocks need cash to fund redemptions.
You can bet there have been plenty of redemptions since the aim market peaked and there is little choice in what you can sell if WATR, say, is 350p compared to so many other "fallen angels" languishing at just a few pence per share.
The fund manager probably does not want to sell them but has to in order to keep cash liqidity at a reasonable level.
Closed end funds don't have this problem, of course, as the discount to NAV can take the strain.
I have been adding this week down here, as to me it is a tuckaway stock which has a niche market.
Always a chance of a bid too...
Traditionally the SP has always risen after divi payment presumably on reinvestment by some into more shares, but this rise is way more than divi reinvestment might implicate, either they dropped too far too fast (possible) or there is something brewing.
Hopefully, as a holder, the latter...
@shearclass
I agree with your thoughts, the one positive though is they appear to still have plenty of cash, and something we all know but is worth repeating, management do have serious skin in the game.
Being generous one could say that this delayed contracts issue is an unavoidable factor of working entirely for the government or government agencies, just thinking out loud...
I have to say that the statement "doomsters here want everyone to sell so that they can come back at a lower price" is very silly.
Anyone who thinks that the posters on LSE site have sufficient stock holdings to materially affect a stock price which, even at these glum levels, still makes for a market cap of £196 million must be seriously delusional.
The whole point of these boards is to discuss & chew the cud over stocks of mutual interest, but to believe stock prices of this size can be manipulated on here is frankly laughable.
Trent
Good afternoon to you too, all good your end I trust ?
Nothing much to report here, on fanrasy board land, the SP is still in the toilet, basically option money down at these levels.
Still have the same puff puff puffers at every opportunity or even when there is no opportunity, have you missed anything ?
Nah, nothing, nowt at all.
Lejjb
Firstly I agree with your comment re "SC...repeatedly shouted partial pictures" etc, a very accurate assessment, imho.
However, concerning the debt, I have an email conversation with Findlay, the previous CEO from 2016 which is still both relevant & disconcerting in 2023 and I quote ;
"of total debt of £1.273bln, £853mln is long term, (out to 2035) & secured on freehold properties. It is at a fixed rate of interest of approximately 6% (fixed at some time in the mid 2000's). To repay this debt would incur a very significant redemption penalty"... and then it goes on to discuss the other debt which is less inflexible.
I suggest that this is why the debt reduction programme is so modest relative to their current debt mountain.
I guess paying 6% today with base rate at 5.25% is respectable but it does not take very long to work out what paying 6% when base rates were at nothing to a jjam tart over such a period of time led to under investment & ultimately sellng off control of the real jewel, their brewery.
However as I also posted that with the SP down here in a 30p dustbin it is option money (& of course every dog has its day).
Thus I believe Mr Market is about right, yes they might get lucky & sell off a bunch of pubs or they will continue to wallow in the gravel & grit that they are currently in.
Personally I would much prefer to re read what Findlay wrote then, which is even more relevant today without control of the brewery & having gone through lockdowns, than "poundland puffs" every few days from the usual suspects.