Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Don't disagree with you on the Director's remuneration issue, Roger. Can't for the life of me think why any company officer would consider it appropriate to pay themselves more when there is no positive financial information to justify it. I don't want to think it's a hedge against wipe out, neither do I wish to ruminate on the nuclear issue. So I'll stick with it whilst understanding your decision as it's your money.
Surely PIs are only losing £000s if they sell. And surely, as WB and many other successful investors say repeatedly, don't invest in the Stock Market if you're not committed to the long term. Of course EUA's BOD won't be happy with the current SP - but they aren't selling and that's the only sign I need to stick with it. IMO as always.
I know as much as anyone, but I've thought, since the prices of metals in EUA's basket started their meteoric climb, that the BOD were probably in a difficult position of fulfilling their pledge to secure maximum value for shareholders against a background of a sort of 'will/won't our metals basket get more valuable' dilemma. Do we take the offer(s) on the table, or try and squeeze a bit more out of the buyers? But then Putin comes along, and the whole scenario changes from a seller's market to a buyer's. So it really then became a stalemate with EUA unwilling to sell for less than they believe is the value they have in the ground, and the buyer(s) unwilling to commit to buying what might not be there in the future. Just my opinion.
I'm intending submitting a question for the AGM which is this. Since the company first announced its intention to undertake an asset sale, has it received any offers for any of its assets which have either 1). subsequently been withdrawn by the would-be purchaser before being submitted to shareholders, or 2). been rejected by the BOD as not being deemed to be in shareholders best interests.
Any amendments/improvements/comments appreciated.
I tend to think Dimitry and EUA are simply keeping their heads down whilst they pray, along with everyone else, that this wretched war will end and they can get on with the job of selling some assets. Unfounded, or downright stupid, chat can be costly - just ask Amigo shareholders. DYOR
I've just short of £100k invested here, average 24p, so all this talk of BOD smoke and mirrors has been p****ng me off. So here's my take based on personal experience. I've been selling a house for 6 months. Sale agreed to the sitting tenant after 4 weeks, but only completing, I hope, on Monday. Why the delay? The house is on a marina and has its own boat mooring. The mooring has a licence which required transferring to the new owner. That finally happened yesterday, after being promised in October. So the whole sale process took far, far longer because of a simple licence transfer, (even though the purchaser has no interest in boating). So hang in there, guys'n'gals. I bet the BOD are as frustrated as we are.
Not selling, neither deramping Just offering an opinion. Perhaps the word(s) to focus on in the interim RNS aren't so much 'shortly' as 'almost complete' which surely must have come from WA when asked by our BOD when the JORC would be ready. Might suggest it is complete, but the BOD didn't agree with it. But I accept IKN.
Been here for a couple of years. In till the end because what's going on is just your everyday, common or garden deal making. We all, rightly (IMO, laud our BOD. But there's another party(ies) at the table, and it seems fairly obvious to me that they've simply said `OK, you want top dollar - here's what we need you to provide us with to satisfy us (and our shareholders) that what you're selling is worth what your asking'. Thus, the mad scramble to get wash plants, JORCs, mining plans etc lined up for inspection. Let's put it this way - would you pay top dollar for a Ferrari if you couldn't inspect the engine. All will come good.
With acknowledgement to the 'date of the next RNS' idea. I'd be interested to hear the thoughts of committed LTHs on what could be going on around the BOD's table.
Me first. I believe PE is involved, probably US-based, and, instead of buying EUA and then carving it up, has pulled together a consortium of companies who each want what's on offer but can't, on their own, risk the amount of money UAE want for what are largely unproven and still in the ground resources So they've each had a long hard look in the FSP process and clubbed together, under the auspices of a PE house, to get what they want for what they can afford. Thus, boom time pay day for UBS and DLA, and mega delay for shareholders. Or its a consortium of japan's finest, same impact on PIs.
Just my thoughts on a wet cold morning in Scarborough with two energetic but bored grandkids.
GLA. Holding strong.
IMHO the BOD entered the FSP with a figure in mind but two things happened - REM prices went mental and new developments e.g. Rosgeo, added to the bounty - so the selling price went up. Most potential buyers said 'too much for so much unproven resources'. Ergo - frantic rethink by the BOD, but one, possibly late, entrant emerges turning the seller's market into possibly 'buyer in control'. The delay is because they're asking for concrete evidence they're getting fair value.
Probably a load of rubbish thinking, but nonetheless I'm not selling a penny's worth of the £100,000 I have invested here at an average of 22.4. I'm still a believer.
On 12th May I posted (heading: OWN GOAL) that there was too much chat on these boards about what PIs intended doing with their soon-to-be-realised and substantial profits. My worry was that the FCA and others (clerks with the ear of the Judge, for example) involved in the judicial hearing could use (I'll try and be kind) investors' 'excitement' as a club to hit shareholders and Amigo over the head in Court. One regular contributor to this board challenged what I'd said and announced he'd be buying "another Porsche". Ah well, good luck with that, M.
Never underestimate the reach and destructive power of social media.
Oh, and just to say, I'm posting this as I can't sleep, like IK I'm angry, I'm still in - but will lose £51k if it all goes t**s up.