Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Agreed with all the LTH's comments. The level of raise just shows contingency for a negotiating period. Bluntly, September was in my mind for a likely conclusion point anyway, no doubt those here for a quick Buck will drift away. I'm lacking in knowledge on closed periods and the implications to this event but it implies nothing quick happening. I still remain convinced that farm-in or sale will happen and that the SP gain will be "bagger" territory. I'm still holding in quantity. GeoChem.
SunZoo, rowboat & black n'decker for that... try 60-80mil minimum. Equinor are supposed to be putting a rig off Argentina this year so plausible that you could reduce mob costs but the last two wells cost 150 mil+ as I recall. Besides, Argentina will obstruct/sanction any deal of that type...
In other news, very odd trading action still prevails, looks to me like someone bought 1.5million shares today in two tranches, but, I'm probably wrong. The recent selling day gave me concern that something had broken down with discussions... who knows. I am now fairly committed to just seeing this out to whatever conclusion for a binary win/lose outcome, worst case 10 months which is short-term for any B&S holder! ATB all....
Just to say that I joined holders here a few days ago at 225. I'm hoping I picked the bottom as I've been monitoring this for a good while and the divi is close at hand. I'd like it to be a long term income hold but that will depend on SP performance vs Divi yield. If performance looks good I'd like to add more. This is a very good play for a diversified investment and the first of this type of share I've bought... geo.
Hi Tovoc, Generally for LNG you need circa 10TCF reserves. The volumes here are well below viable for any LNG plant I know of. Direct gas sales require high levels of processing [https://www.nationalgrid.com/uk/gas-transmission/data-and-operations/quality] and an export line, economically impractical here. Gas to power is fairly simple and is the optimal solution at Wressle. Their biggest issue is probably getting the mains connection permissions from the local operator. As the press/news is full of it, electricity revenues can be quite useful.... ATB.
I'm pretty depressed by the way this has been handled, I'd echo Gus that there's no excuse for this being 'beyond' the wire/finish-line. Contingency for this scenario should have been laid more than a year ago. I know that it must be difficult facing falling and low SP/Mcap but the wages do reflect a CEO status and the job is pretty part-time, it's p-poor really. Regardless of this shortfall, I don't see it as possible that any fundraise is viable beyond loan/warrants, a rights issue is a non-starter for me and I've worked the numbers.
I think that the current oil/gas price environment and the shortage of appraisal stage projects of scale means that we are clearly an attractive prospect right now. But, I don't see how a farm-out goes as the costs for a part-share dramatically exceed the value of B&S taken-out. The only way it works is that the majority of institutions holding B&S won't take a lower bid than their buy-in. I know that one of them got millions at circa 0.1p [Damille?] when another wanted to move-on their entire holding. Although I'm guilty of falling in love with the asset/Co/FI dream, and want B&S to succeed, a farm-out may not generate the SP gain [after c.9 years] I'd like to see though the SP would certainly rise with back-costs repaid and wells to come, but....
Ah, the frustrations of AIM shares folks!! I'm sure we'll know where we stand soon at least... Best to all - Geo
Phil, exactly my thoughts as value will be decimated by any placing. So if you are a clued in investor you'd buy in after the placing when the SP is tanked. I checked the other day, Cannacord Genuity are already listed as a major shareholder dating back to before this period, this guy works/worked there and adds a 15 mil buy... ? I still stand by my analysis made a couple of weeks ago but we'll soon enough find out. Canadian majors are Suncor, Husky and CNR, Enbridge are pipelines mainly I think. Scrub BHP as a prospect, they have mining interests in Argentina. Far East gas Co's might be possible too but everything is speculation until we know.... RNS soon, EO Jan... ?
Just FYI LTH's, I put in a limit sell for a micro-chunk at 1.2p to run a flag up the flagpole directly after the RNS dropped. It got taken out after hours at 1.25p?!? That was awfully nice of IG to give me more than I asked for but maybe indicates a forward path for the near future... Hello again rpoodle, sorry you left but it's been extreme BoS to hold here against the losses for all these years, dead money looking for the end of a rainbow! We'll all see how this plays out now, continued hoping....
Hi Phil, like hot cakes as they say, yes could be OR not.... gather he is maybe something with Canacord but also classed as insider in a range of mining/resource companies. V. interesting. Of course, Canada is my favourite destination and will this land me a Big White Ski condo, more likely season pass.... !!
Hi Gus, all, .... This has been going on for quite a while, with an odd hiatus. With our depressed SP some very big trades look normal-ish when today there was a 900K and 460K buy however they don't look normal given the stated position of the company. I'm posting out of trading hours as I don't want to be accused of ramping but something is clearly cooking here. We will know soon, I note two RNS's for trading extension. As Phil always say's, this is a binary share, lets hope the LTH's win out of the near future.. ATB.
I don't post here often but... I've been holding for c.9 months having had EOG on my watch list for about 3 years. My hold is all about the Irish acreage as it's transformational. Any progress there and this goes ballistic. I'm not wild about Morocco, there's low COS there in my view. But, Wressle is a surprise win for EOG. I'm a O&G pro so I know how it works. We are kind-of on hold until we get the CPR. Current reserves won't justify another well, but an upgrade will allow a second producer to be viable. Frankly, [IF] £6 million a year comes in EOG could drill a UKCS well offshore in about 12 years time. With another Wressle well backed by viable reserves EOG could get there in 4/5/6 years and be capable of attracting a partner. OK... placings, not good for LTH's. So, to my mind, get the CPR and focus on Wressle for now. If the CPR doubles reserves, drill another producer... just my tuppence worth - ATB.
Gus/Anth, all decent points and agreed. I suspect [3] is most probable but to some degree in the past. We heard a while ago that HO was off to the states. Oh I instantly thought, farm-in with US major/mid-tier... then though O-Oh, Pimco [or such] for warrants/PP, but then, silence. The thing is these boys always want a fair bit of coinage to advise/promote/place such products and B&S not have such. So my comment about RNS was that it's so tight on the timeline that IF a rights issue was the only way through it probably would need notified V.soon. So, as time has passed, it's plausible that they went back to a old farm-in discussion and saw a chink of light. OR... they've had an offer of buy-out, to&fro to the institutions, "would you accept X.X£?"... And, it's all dragged on a bit. Now, it's getting too tight to do either/either..... Bluntly, I've got no idea but I see a endpoint imminent. I've held for about ten years and I lost 90% holding from discovery. I gambled on a falling SP, sold-out and rebought on low points to hold up to 80,000 shares. I sold up to 90% of holdings on rises and bought back in doldrums. I'm currently holding 200K shares at ~0.95p. Nice win would be good, rights issue and I'm gone at a [hoping} 50% loss.. CeSeraSera.... it's pretty much an each-way bet at this stage but I'm hoping LTH's get some kind of win. ATB- to all.
Hi Intoodeep, agreed, the market points downward and I have no inkling of what will be happening. All that I do know is that the company told us a fundraise was likely by the end of January but there remains no indicator that it's happening. I've held here since the Darwin discovery, in varied amounts. I'm simply looking forward to a conclusion soon. If they fundraise, it will unquestionably be horrific and I'll be off, a conclusion for me. It remains a possibility that something more positive could appear, in which case joy but as Phil stated - it's an binary share. All the best, I'm not ramping, just glass half-full/empty!!
484 million shares placed at 0.2p per share on a 1 for 1 rights basis raises £968,000 - 1 year of operation cost +/-. No placing, nobody [including me] would contemplate it. IMHO.
Sale - 6p+ / Farm out / Hostile bid are only options IMO. Folding highly unlikely due to asset size/value.
Anyone think of any other route? ATB - Geo