Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
https://s3.amazonaws.com/cg-raw/cg/news-releases/nr-20180424.pdf April, 24th Centerra formally rejected Chaarat's offer in a clear memo published on its website. Since then, no word about this on Centerra's website anymore. Message clear I presume. Why is Chaarat still suspended ?
To complete the circle.... mr. Denis Alexandrov, former CEO of Auriant Mining AB, is now CEO of HGM.... He seems to be quiete sure about the opportunities this transaction is bringing to HGM.... I'm less convinced seen the acquisition price of 91 mio....
Some extra lecture to my previous message... (Information obtained from Auriant Mining website) January, 2015 : Establishment of legally binding agreement with Aristus Holdings Ltd. to manage and develop 5 gold properties located in Russia�s Chukotka region, including Valunisty - a producing gold mine 17 September 2015 : memo below (not on Auriant's website anymore) Year report 2016 : No message at all nor about the option message dd. 17.09.2015 itself, neither why it has not been lifted. The only statement... CHUKOTKA MANAGEMENT CONTRACT During 2015, Auriant delivered management services to four as - sets located in Chukotka, including the producing mine, Valunisty. In 2015, Auriant charged a management fee of $3.6 m. In January 2016, the contract was terminated by mutual agreement and was taken on by a company with close ownership links to those of the Chukotka assets. In January 2016, the CEO Denis Alexandrov left the company, Sergey Ustimenko took over. So, the properties which could be bought by Auriant Mining from Aristus Holding back in 2016 for 32,5 mio. USD (50% stake), are now sold for 91 mio. USD to HGM ? Auriant Mining delivered mining services during 2015 - so, as I suppose, had detailed knowledge about the mine and its opportunities - and let pass buy the option to buy Valustiny from Aristus Holidng Ltd for a much cheaper price ? Any remarks, ideas are welcome.
Memo release date : 17.09.2015 Auriant Mining AB (publ.) is pleased to announce that it has signed an option agreement with Aristus Holding Ltd. to purchase a 50% interest in five gold properties located in Russia�s Chukotka region, including one producing mine, Valunisty. The agreement was signed following the Boards decision previously announced in January 2015. According to the terms of the option agreement, Auriant Mining has the right, but not the obligation, to buy a 50% interest in Aristus�s properties in Chukotka for the price of US$ 32.5 mln not later than January 1, 2016. Auriant Management LLC (a fully-owned subsidiary of Auriant Mining AB) has been managing Aristus�s properties in Chukotka since January 2015. The Company has management contracts with Aristus-affiliated Valunisty Mine LLC and Kanchalano-Amguemskaya Square LLC (KAP). In addition, Auriant Management provides consultancy services to Nord-East Mining and Geological Company (license holder for the Kayenmyvaam site), North Subsoil LLC (Uteveem license holder), and Mangazei LLC. �This option agreement presents a good growth opportunity for Auriant Mining, potentially adding Valunisty, a mine currently operating at full capacity, and a solid pipeline of exploration assets in the Chukotka region, where several world class mines are located,� Denis Alexandrov, Auriant CEO commented on the option agreement. Chukotka gold properties Valunisty: A producing gold mine with H1 2015 production of 500 kg of gold. The C1 + C2 reserves of gold are 17.5 tonnes at an average grade of 5.9 g/t and 178 tonnes of silver at an average grade of 59.6 g/t, equaling total C1 + C2 reserves of around 20 tonnes of gold equivalent. Mining is open pit, with a mill capacity of 250,000 tpa, and straightforward carbon in leach processing with gold recoveries of 95%. With limited previous exploration, there is excellent potential for a further increase in reserves at the deposit. Kanchalano-Amgguyemskaya Area (KAP): This is an 831 km2 license area, incorporating several known deposits and prospects, including Valunisty. Uteveem: This is a 1,094 km2 license area containing at least five identified silver-gold prospects. No detailed exploration has been undertaken to date. Kayenmyvaam: This is a 1,214 km2 license area containing at least six prospects. One prospect, Arykvaam has had some limited core drilling of 5,000 m and 5,900 m of trenching which has indicated a sizeable gold and silver resource. Mangazei: This is a 639 km2 license area. Early stage exploration work has shown two types of mineralization: copper-porphyry and epithermal gold-silver veins PRESS RELEASE Stockholm, September 17, 2015 For more information, please contact: Denis Alexandrov, CEO tel: +7 495 660 22 20 e-mail: denis.alexandrov@auriant.com Company name: Auriant Mining AB Short name: AUR ISIN-code: SE0001337213 Website: www.auriant.com
I am a LT PAF shareholder. But now management really took me by surprise... Buying a coal mine ? What the heck ? What's the strategy behind this move? Would be curious to hear from Mr. Nelson what his thoughts are....