Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Vauch I don’t think it’s nonsense as they have already mentioned they are progressing the permits in the interim results, but I think an operational update could be released at this point!
“Additionally, Greenfield continues to progress the requisite permitting for its planned production well programme on the TSHII site following recent changes to the relevant permit legislation”
Permit Application with Utah Division of Oil and Gas.
4 Vertical oil Wells from Rimrock & Asphalt Ridge Deposits
Operators are Greenfield Energy which is a Joint Development AC oil (Tomco) and Heavy Sweet Oil (Valkor).
https://twitter.com/fadec92/status/1575546334496829447?s=46&t=qjoXnIjljI3exYk8cltX2A
So will they need to draw down on the facility again as they can up until Friday without consent, I think the first conversion has happened, does that need to be notified by news release? I think they just have to give notice to the company and I think there’s a bit of selling to cover the 50m shares issued to them, but there has also been some buying so maybe all equal.
“The Company has already drawn down the initial tranche of £375,000 and has at its sole election, an option to draw down all of the remaining £375,000 on or before 30 September 2022. If the option lapses, the second tranche may thereafter still be drawn down by mutual consent of the parties. Interest equating to a fixed amount of five per cent. of the principal amount drawn down shall accrue until repayment, conversion or redemption of the notes.”
Tomco’s market valuation is very low for a company seeking funding for a plant build with a multiple license that stakeholders and various companies, fund managers can only capitalize by taking up through Greenfield or Petroteq, any assets in dollars is good for us in respect of the weak pound In dollar assets converted.
Yes you can see the current infrastructure in place with the dark colour of the mined Oilsands, looking at the pictures you can easily imagine an investor wanting to get involved with this, it’s just screaming… just put a plant in an start making money..and on another note how can big oil look at this and think there’s nothing to see here…it’s beyond belief!
https://twitter.com/fadec92/status/1570512806725943297?s=46&t=0zTralTT4mR6iGyo0Bv-NQ
PetroMod posted these pictures up on the TomCo Reddit Site.
https://www.reddit.com/r/TomCoEnergy/comments/xf0orl/new_photos_of_the_tomco_planned_plant_operations/
https://fs.ogm.utah.gov/bbooks/2022/08_Aug/Briefing/20220824_Briefing1_IntroductionToHeavyOil.pdf