Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
And SS should be investigated for these antics - it's scandalous 'management' of a company and shareholders' monies
"IF SUCCESSFUL" ....this caveat alone tells us all we need to know. Given our 'success' of hitting nothing, I think we can forget the future proposals.
My money is on UKOG folding before finding decent amounts of oil which will likely coincide with ol' 12m shares retiring. We pay for his play!
If I wasn't in waist deep (water, not oil) I would have run from this dog of a share years ago.
....with Salmon Slacks at the helm, UKOG would only find water.
This really is one of the biggest scams of a company ever. Placing, placing, placing - fleece the pi's to fund...
If you want to find water on Mars, stick SS on the next rocket up there. At least we will have shot of him.
Re: something is brewing
My money is on……..another placing! Only thing that happens with salmon slacks’ retirement fund.
Well done @SRBS
2.5-3m shares means that you know own 0.000000000000000000013% of this £22m machine.
Salmon slacks prints UKOG shares like the US are printing $ bills. It’s the UKOG version of quantitative easing.
Wonder where the incompetent, investor-fleecing water driller is dining out this Friday night on our (PI’s) investments?
@HeadInTheSand
In response to your posting of earlier, I emailed the nomad brokers to ask whether they had any information of the directors purchasing any share as per the RNS from May 2021.
No response received (obviously). They are just adopting the SS mantra of not saying anything.
I am wondering whether the RNS could be construed as misleading and whether the directors had no intention whatsoever to purchase shares.
In my opinion, we are approaching death spiral territory. Price keeps going down, SS and the BOD doing nothing to abate it or to improve the confidence in the business.
At least my investment has paid for their lifestyles- I may claim it on my Gift Aid / Charitable Donations of my self-assessment.
Sack the BOD!
I have read this on the UKOG website
"The Company is well funded and plans to grow its core UK Weald business with a programme of development and acquisition. "
Not carp it is well-funded - by us mugs!
@ cyan2
Your post of 17:22 refers.
Good post and hence the reason I asked a week or so ago whether the directors' conduct is reportable to the FCA. They have clearly misled shareholders and/or encouraged investors to join UKOG or purchase more shares - their intended signal boosting the confidence in investors/potential investors which has/could have led them to invest more.
The BOD are acting disrespectfully of any shareholder and us investors are simply keeping them all in the lifestyle which they have become accustomed. Certain individuals may see this as their gravy train to retirement - maximising pension contributions etc. The way they have run this company, they should be up before the FCA or in the law courts.
We know that they have no intention of buying any shares - why would they when they know what a shower of manure this company has become (under their leadership).
Salmon slacks out !
@ Ian
You may wish to look at
https://docs.londonstockexchange.com/sites/default/files/documents/aim-landscape-infographic.pdf
In particular, at page 4 under “The Financial Conduct Authority” and in particular “…From an AIM Company perspective, it has powers to investigate disclosures made by an AIM Company where they may be false or misleading statements and which (intentionally or recklessly) induce investors to trade or refrain from trading in the company’s securities”.
Thank you @Headinthesand
I’m just reading the London Stock Exchange AIM Rules for Companies - there’s definitely some regulation but as you say, lighter than with the FTSE companies.
If there wasn’t any regulation then surely any old crook could set up a company and fleece investors??
Great post @ Cynderlad.
Just out of interest, would there be enough to put the case to the FCA that salmon slacks has deliberately misled us investors???? If so, this should be reported.
People have lost lots of money on this lifestyle share that keeps him in a decent salary and no doubt a healthy pension to boot.
This conduct ought to be investigated, all in my opinion.
We DO NOT trust.
Can this guy actually get anything right?
@ Oiler76
It should be fairly easy to work out - just total up SS and the BOD’s wages and you’ll have your answer :)
@ Penguins
I’m definitely in your camp rather than the Troll camp (although I hope Troll is right in the end).
In my opinion, this is one last roll of the dice for SS and he hopes to ride it out for another 2/3 years (more pension contributions) and then retire and have the last laugh.
He is everything which a CEO should not be (apart from a former CEO at Sound Energy).
He’s gone all in on black……will it be red or will it be black (gold)???
@ATrades
Time for Benamor to re-appear?
@ Novice82
Good post!
I have read through the judgment and cannot see grounds for an Appeal. An Appeal is a high hurdle to get over - ultimately the Appellant needs to show that the judge has erred in law - I cannot see any evidence of that. I do question the advice that the Company has been given - why did they not seek an adjournment of the SOA Hearing the minute the FCA indicated that they would be turning up. The Company would have had good grounds for an adjournment and then considered its position further. Giving a Judge a binary decision (approve or we will fold the Company) was the worst case of 'playing roulette' and it has come back to bite us.
I seriously hope that the Company looks to obtain future legal advices elsewhere.
@ Andy111
100%
@Chantecler
As a lawyer myself, and having been subject to embargoed judgments myself, I would hope that your best-informed has not been made aware as that is a potential breach of the usual embargo and a potential contempt of court.
When I receive such judgments, I am not permitted to discuss with my colleagues, nor would I ever want to until after the judgment is formally handed down.
@Rooboy
Usually what happens is that the draft Court judgment, when available, will be circulated to the parties for consideration. The parties will almost definitely be embargoed from discussing it’s contents until it is formally handed down by the Judge.
The Court will not be handing down judgment at 7am and so I do not expect to see any RNS being released which discloses the contents of the judgment.
The RNS will follow the judgment and will not pre-empt it.
@delacey
In my opinion, I completely agree with you. The timing of these recent messages (EM tweet and ARB RNSs) are more than mere coincidence.