Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Apology accepted but not really required. I think we’re all feeling a bit like that. I was being a bit provocative myself. The Friday night board is always a little lively. Perhaps when the trade gods unblock the Suez Canal they could unblock CHAR as well ??
They did Goon, perhaps a couple of times...and got burnt, as you know only too well!. They are waiting for the big RNS before they elect to dive in again. Right now CHAR is a reactive share that has to prove it. It used to be a hope share, not any longer. Personally I feel good about Char again. Time will tell.
I saw this at the end of the statement.
Further funding is expected to be raised in H2 2021 to allow full feasibility study to be completed at the Phalaborwa asset, and support ongoing corporate overheads. The Directors have a reasonable expectation that the Company and the Group will be able to raise the additional finance required to allow the Company to remain a Going Concern for the foreseeable future, although acknowledge that there continues to exist a material uncertainty that may cast doubt over its ability to do so. Nevertheless, the Directors continue to adopt the going concern basis in preparing the Condensed Consolidated Financial Statements. For further detail refer to the detailed discussion of the assumptions outlined in note 2(a) to the Condensed Consolidated Financial Statements.
Can anyone expand or throw some light on this. I wasn't expecting to read this. Thanks
Yes, a very interesting development. I like the fact that CHAR have taken a long look in the mirror and told the truth about their previous 'elephant hunting' business model. It used to work and revenues could be driven from 'potential' in the form of farm-ins and partnerships. That no longer works. Oil is going out of fashion, favour and ultimately demand. For the last few years we have been swimming against the tide and a number of strengthening headwinds. We were in the finding needles in haystacks business and the undeniable fact is that the market for needles is falling away. It's not dissimilar to many business that have had to switch their entire business model to go online and virtual, as the forces of new technology and social distancing dismantle the old. Some businesses have done it brilliantly, many haven't and particularly more established, larger one have found it understandably harder. Many 'mighty brands' have fallen by the wayside and many more will follow suite.
Chariot have decided to get ahead of the curve and transform their business and move into the new river of clean and transitional energy. This river is gathering pace and we are swimming down stream. I am very pleased about this. This is a whole new game and one that is getting bigger by the day.
The new venture is basically buying a scaleable producing asset, something many of us wanted CHAR to do for years. As fortune and timing would have it, the producing asset is in the epicentre of the new energy revolution and in an area where we already have connections, existing commercial links and associated businesses. This is a growth area and one where we can branch out from with the assistance from the parent major Total no doubt.
As for Namibia and Brazil, as NewKOTB suggests, I would not be at all surprised if these are sold off over time, as neighbouring drills hopefully drive up the value of the assets. This would make total sense and aligns with the new strategy.
Looking ahead, I wouldn't be at all surprised either if AP and team build a portfolio of clean energy businesses under the new umbrella of 'Chariot Transitional energy' with a view to selling it off to a major or other large player keen to move into the ESG and clean energy space. The key will be to buy business wisely that wash their own face and can scale rapidly as part of the new Chariot.
How long it will take for the market to catch up with the fact that Chariot has pivoted 180 degrees and is now headed downstream I don't know. I expect some of the old laggards will want to see the colour of Moroccan money before they believe it, but there will be a few that see where this is going and hopefully we will see this in the near future.
I'm still looking forward to to 10x share event!!
I fully agree the the Chariot of today is a very different Chariot from the past. However, having said that, a lot of people who would typically dabble in AIM stocks had their fingers burnt and in many cases burnt significantly. in 2010 we had Credit Suisse, GS and one or two other institutions all over us. The potential of a new oil frontier in Namibia was a compelling story, sandwiched between already highly successful fields above and below our prospects in South Africa and further up the African coast. The contiguous fields in Brazil etc only adding to the certainty. The insti's sold heavily into their customer bases, hence the daily rises of 10% or 20%. Of course later when the dusters were announced, plus the disappointment of Rabat Deep much later, optimism and dreams of untold riches were replaced with cynicism, suspicion and anger, not only in a lot of individual traders but also in the institutions that inserted their large client bases into them.
So, whilst I am amazed that the market hasn't grabbed the opportunity now presented by the 'New Char' (x 10 share price event uttered by CFO etc) I am also not that surprised. Unfortunately through nothing other than wanting to help, I managed to help a small number of family and friends lose chunks of heir well-earned cash. They wouldn't touch CHAR with a bargepole and I wouldn't feel at all surprised if a lot of people feel the same way. I am still heavily invested, but I certainly will not be mentioning the CHAR word again, even if it looks like a dead cert. This is probably why we have no insti's despite a brilliant story with genuine progress. We pi**ed them off big style as well as their client bases. I feel the price will now only shift when there is money on the table. Expressions of interest and alliance announcements will not be enough. They are for me, as I can see where this is going, but for those that no longer follow each twist and turn of the story I expect 'forget it' will be the response.
Sorry, long answer. In short we scared off just the sort of people that would typically go for a punt like Char.
Personally I'm locked and loaded and waiting for the news flow....but I won't be telling anyone else to join me this time.
In full agreement NewK. You don't just say “Our shareholders want a 10x share price event and that’s exactly what we intend to provide!” on record unless you have a pretty good idea of what the make up of that would look like and how that will manifest in reality. I'm really surprised at the slow reaction from the market after 2 stonking RNS's. I guess it will take waving actual cash under people's noses before they believe it, such was the hope-dashing fiasco of CHARs bloody past. Personally I don't think CHAR have been in a better position and I am looking forward to seeing how this plays out over time. I'm intrigued by the emphasis JM-W affords to 'new ventures'. AP is also the chair of RBW a very interesting Africa rare earth elements business, mining the metals required for strong permanent magnets (think electric cars, wind turbines, military etc, etc)I can see how that might play into the transition energy space but not sure how that would create the 1+1=3 sum he mentioned.
And you guys. I’m still living and enjoying being in Hungary. Near Lake Balaton. I’ve even started making my own wine. If char comes good, which is starting to look really quite likely, then I’ll get some invites out to you ??
Also been here for ages. I remember getting in at about 18p and it immediately going down and then suddenly going on this unbelievable run up to £3+, often on the back of 20% rises. CEObob, PeterboroughMatt and SiFi were particularly instrumental in me hanging on after the initial dip. The Dalek was my fav though. My name on iii back then was dctiffield.
Apologies GK, I didn't mean to be quite so direct. My maths are pretty good, coming from a physics background. I confess though I am unfamiliar with some of the terms you were using, so was not able to compute the final answer from the base data you provided. I am pleased to be aboard and really like the opportunity RBW seems to present given the market for REE.