Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
goodflyingduck
If you look at the EUA annual accounts for YE 31.12.20 (pp 54) you will see that ZAO Kosvinsky Kamen made a loss for the year of £1,754,307 on sales of £1,357,958 (assuming that all turnover in the EUA accounts was generated by ZAO KK) .
ZAO KK is actually technically insolvent as total assets are £4,231,046 compared with total liabilities of £6,580,420. More importantly, it would have been unable to meet its current liabilities of £442,379 at the year end as current assets stood at £380,566. This means it would rely on funding from EUA to continue as a going concern as at the date of the accounts.
I hope this helps.
This post from ARB is nothing more than an adaptation of an old spoof/ satirical article from 2000. It has been used on many other BBs as you'll see if you google "Confessions of a Paid Basher".
https://valuewiki.wordpress.com/2007/04/26/the-myth-of-the-paid-basher/
There are a coupe of points to note regarding the Convertible Loan Note.
From the half year report, given technical completion of the project will not occur by 30 November 2021, the Company has formed a view that the convertible note will convert at the floor price of £0.27 on 30 November 2021. This will have the effect of adding an extra 186,186,815 shares in issue, which is pretty significant dilution.
Further to this, according to the RNS, "the Company has no obligation to extinguish the convertible note using its cash reserves and it is only repayable in an event of breach of the terms of the investment agreement which includes....a breach of covenants, insolvency of the Company or the Company ceasing to conduct business or ceasing being listed on a recognised stock exchange." The company ceasing to conduct business or being listed on a recognised stock exchange would seem unlikely in the near future.
My own feeling is that the company will pursue the rare earths path, though the initial drill results were disappointing to me. It's also unlikely that BKY can appeal the CSN decision directly, but I wish them all the very best in pursuing recompense from the Spanish Government in any way they can. A classic example of bowing to pressure from the public to chase votes rather than trying to educate.
Tillywhiz
"Not sure the USA ii would sell at a loss , is it BR clients that’s opened shorts"
It's almost certain that BlackRock are lending stock to clients for short-selling. It's a highly profitable part of their business. The link to the pdf shows how this works - the diagram in the document explains the process clearly.
"We [BlackRock] firmly believe that short selling is a crucial contributor to efficient capital markets and that lending securities is not in conflict with effective engagement with companies."
https://www.blackrock.com/corporate/literature/publication/securities-lending-viewed-through-the-sustainability-lens.pdf
I think that this notice may be nothing more that a reminder to submit overdue accounts. It's stated that the notice was an event that occurred between 4th Feb and 6th May 2021. I can't see a specific date of issue for the notice,
Accounts were submitted, probably for two separate years, on 8th March and then 21st April 2021, so the notice still stands on the record but the it's likely the terms have been fulfilled.
It would be CERTAIN that EUA would have to issue an RNS immediately if UAP was indeed being wound up.
https://opencorporates.com/companies/cy/HE141187
*** = r e s e a r c h - t r e e . c o m
Website/ twitter links to Selection Mines & Kalahari Key here. Pastures new for CS....?
https://twitter.com/selectionmines?lang=en-gb
https://www.kalaharikey.co.uk/
https://*********************/media/selection-mines-creating-a-mining-house-as-a-global-vision-of-past-entities
JT Macs
The link is there to illustrate that BlackRock invest directly in to individual companies as well as provide a multitude of funds, for those that might not be aware of this! We'll find out in due course.
BlackRock would be my best guess. Whether everyone would be happy with this is another matter..
https://www.marketwatch.com/story/blackrock-seeks-to-raise-10-billion-to-make-direct-investments-in-companies-2018-02-07
It's not likely to be other companies who participate in any potential placing, though having said that Premier Miton (Gervais Williams) will have most likely picked up their holding here through previous placings. They're the only active II fund invested here as far as I can see.
Placings normally go to high net worth clients of the company brokers; bigmj would be a good example of this for those who have been following EUA for a while.
I've been an advocate of Primary Bid for a while now, this allows "normal" PIs to take part in placings as well as the heavier hitters. Let's see if EUA will open up to this option if/ when they decide to do a placing..
It's just another of these standard Companies House filings that any AIM company will do every year to allow them to do a placing if they so wish. This company do this every year, normally in July looking at past submissions.
A number of these state secrecy laws regarding strategic resources have since been repealed, but I'm firmly of the opinion that any buyer will be Russian. There is very little foreign ownership of Russian mining and the experiences of Barrick Gold at Fedorova Tundra illustrate the problems overseas investors can face.
https://investinrussia.com/data/files/sectors/Metals-and-Mining-in-Russia.pdf
Hi Ian_
I'd maybe check the RNS...
https://www.lse.co.uk/rns/EUA/issue-of-equity-directors-holdings-d3t10r3mhf92oza.html
mac4671
If you're looking to gain a possible valuation for Monchetundra alone, perhaps looking at the prices paid for other similar undeveloped in-situ PGM resources may be more useful than comparisons with Sibanye and Impala.
Some purchases in the last five years or so include:
- Federova Tundra (Kola *****ula)
- Red Emperor
- Empire Metals
- Platina Resources
- Nickel Creek Platinum
- Grid Metals
- Wesizwe Platinum
- Jubilee Platinum
- Wellgreen Platinum
I hope this helps.
Following this thread possibly leads to Tatneft being an interested party. They are a $16.2bn MCap Russian oil refining and petrochemical company...
https://www.tatneft.ru/about-tatneft/general-information/?lang=en
There would be 250m shares issued at par value of 0.1p, CAW1, hence roughly 10% of current share capital. Put a placing out at 20p gives £50m to the company, just as a simplistic example.
Someone could mention to Keith that his latest submissions at Companies House have incorrect nominal values listed...no big deal though!
This is nothing to do with a rights issue. It just gives the company the option to issue an extra 10% of the share capital in placings if required, which is standard practise for any AIM listed company. At present, this would raise c. £50m if the company decided to do so.
There is more to come over the next few days/ weeks for sure however....
Avizandum1
Komarov is no small fry, in fact he's the man behind the purchase of the Fedorova Tundra deposit last May, so he's well into the PGM space already.
"The beneficiary of the controlling stake and partner of Rostec, according to a source familiar with the new owners of Fedorova tundra, may be Seleznev's former employer - the owner of ChTPZ Andrey Komarov, whose fortune was estimated by Forbes at $ 550 million".
https://www.rbc.ru/business/15/05/2020/5ebd49a99a7947123b2e6937
mac4671,
I'm not sure if this is the article you intended to post, but I must admit to having a chuckle at these quotes:
"About all other projects, Eurasia are reticent, including the search for gold and their 100% owned projects. But then working in Russia imposes a discipline in which Eurasia's management are grand masters.
"Don't say anything you don't have to" might well be their mantra, and given some of the more recent developments in the natural resource sector in Russia, it might be a sensible course to take. In a recent interview with Proactive Investors, Christian Schaffalitsky was very guarded, and took care not to be specific about anything!"
"Although long-term investors must be forgiven if they finally run out of patience with this close-mouthed and secretive operator......at just £6.3 million market cap and with Kola slowly but steadily revealing its potential, plus a possibility of cash flow next year, there could be rewards ahead for those who possess tolerance and tenacity."
From 2006
Just for fun... ;)