Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
To think RF will probably be selling the last lot and then buying their warrants to sell at a healthy 150%, or more, if they hold off.
Maybe they will need their cash to facilitate their reverse TO, then go bust and not buy the warrants.
Tricky is that for Tricky Trevor Steven?
Ah well Nathsprof we will have to agree to disagree.
Hello Aber the RNS stated after 2.9 mill shares were given to them we still owed 800 k . They obviously sold them by more than 10p say 14p and brought the 800k down by a further amount to 640k.
That's my take anyway
Surely if sareum only get 10 a share and not the price RF sell at there would be no need for this clause in the original RNS
In the event the principal amount of Deposits outstanding (and any associated interest) has been fully repaid at the Maturity Date and the Investors still hold any Placing or Subscription Shares, such shares will be disposed of in consultation with the Company and 95% of the net sale proceeds will be remitted to the Company.
Last RNS said balance will be paid by subscription shares. This one says balance to be paid by subscription shares or CASH. Are they going to use the extra gained from the wrap and pay then off without more dilution.
Why keep giving them shares, then mention the balance doesn't have to be paid till Aug25. Don't pay them till then, tge sharks.
To be honest I think the main thing we need to know is, can Sar actually say NO to RF asking for subscription shares like this, and say we will pay you up come Aug 2025 as per the end of the deal. The RNS says from time to time, this is relentless. Is a million pound the magic number, its mentioned as being one of the guides in the original RNS. Perhaps now we are sub 1 Mill, Sareum can tell them to do one, and wait.
Elcap if that were the case, then from the initial 2 million deposit we received off them, we would have only owed them 90 odd thousand. They were given 1.9 million shares at a price of £1.02 for the first deposit, roughly £1930000 value at issue price. The selling price is being recorded and I believe its the selling price that reduces the debt, otherwise we would not have to keep issuing new shares.
In my humble opinion of course.
Aber if they waited till £1 they could only sell £800k worth as that is all Sareum owe them. Any shares they have over that, they have to sell with Sareum guidance, and Sareum would receive 95% of the sale value of the extra shares.
Hello Mathsprof but RF have to come back to Sareum and say we have sold that lot of shares you gave us at 10p. However we sold them at 13p so the 800k owed is actually less by 87k. So sareum may well say here's another lot at 10p but if things are going well RF will sell at the higher price and that will be shown to be reducing the balance by more than 10p a share.
I don't believe that there is no check on the sell price RF get.
aber i think this allocation of shares leaves sareum still owing them £800k after the allocation.
no need to pay them back till aug 25, and paying in shares hopefully at a price a lot further on than 10p.
say at £2 a share total shares given to rf to finish their 800k, 400000.
hopefully rf go bust before then, ******s.
parker really should go and the bod hang their heads in shame.
My big beef with the RF agreement is the agreement states, they may sell shares from time to time to recoup the loan.
Well RF thought sod from time to time, and went and sold aggressively every single day.
They trashed the SP intentionally whether for reverse TO, or some other reason. Certainly out of line with the deal IMO. Hope SAR make them wait now till 2025.
Smart the main thing, is invest through the wrap then Sareum get your cash. Open market the seller gets the cash, and the MMs get the commission.
A weekend away at Disney with the family and its on here posting away.
FFS how sad is that!
cobaltblue seems to be what most people were asking them to do. admittedly should have done the raise at the highs or certainly before the rf rubbish. total **** up there, parker should still go, although he once again is putting money in. presumably rf will buy up their warrants, a bit more cash, no doubt they will sell them straight away. probably leaves a million owing to them, let them wait to be paid.
Exactly Aberystwyth. No change to the number of shares issued as warrants already. And they would have to pay for them and I don't think RF have a pot to p.ss in.
Reality 10 RNS s be issued up to 18.30 hours, I think.
Chrisatrdg I am in the same boat the original RNS with the funding states when we draw down money wevissue placing shares. If RF want to make up the shortfall they get issued subscription shares. The last RNS misses any mention of the 1.4 million we were going to draw down. This was extra to the 300k. We will have to wait till next week for the financial to see if we actually got any part of the 1.4 and that's what these placement shares are for.
Blue Toff why would you inflict our torture on others.
Only club I know with a worse accountant than Sareums.