Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
It is briefly stated as note 25 in the financial report -
"Property Disposition - Subsequent to year-end, the Company entered an agreement with a third party to dispose its interest in the CO-2 block."
The latest financial accounts are available on the company site.
It makes no sense to me - the Cascadura flare is visible from satellite and the Q3 results were poor but $3M+ a month will eat through the debt pile very rapidly. I suspect Janedoe is either being very cynical or very mischievous. Hopefully they will clarify asap but I won't be surprised if they don't.
As an aside - when the flare does reduce, it will probably mean the compressors are fixed.It hasn't happened yet but that would allow them to ramp to 60 ($4M+/month).
There's a logical explanation for selling in Canada. London actually looks quite steady but the arbitrage trade inevitably grinds London down while this is going on. Hopefully, sellers are done soon given the 30 day lockout.
The least dramatic speculation is that it's tax loss selling season in Canada. If you sell before year end you can offset your losses against personal tax. The downside is a lockout for 30 days which given recent progress is unlikely to be a hardship.
TXP potentially has a good forward news flow. Re-commencement of drilling, asset swap, new licences, real money showing up in the bank account etc. Arguably, a bounce on TXP is equally possible albeit both companies could gain from a better investment climate and an avoidance of the self-inflicted injuries we've seen over recent years. I take it from your posts that you're a swing trader/momentum investor?
LV - the plant appears to have been rigorously checked but nothing is impossible. The build standards are based on those in Norway which are considered rigorous and widely used in the O&G industry. Given Cascadura is a relatively simple process plant, I'd suggest there are greater risks to a producer in Trinidad
LV - if you look back at recent RNS statements you will see that production only started on the 6th and that they intended to ramp production over a few weeks. In addition, they noted in an earlier RNS that the well heads were at 4100psi pressure (a truck tyre is circa 120psi). That doesn't strike me as lacking in pressure once the valves are opened.