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Tony’s equity interest is in the form of warrants which were awarded in January 2023 for a period of 3 years.

He has 140 million warrants exercisable at 0.35p and 30 million warrants exercisable at 0.45p

The sp therefore has to be considerably above the current sp for it to be worthwhile for him to exercise. I don’t think he gets paid very much so unless the sp gets back to previous highs and above he is not going to get much out of this. He is incentivised to get the sp considerably higher. Tony has been here since the beginning and knows all about Satoshipay. Perhaps he could rekindle the old plan to back Satoshipay into Blu in order to use BLU’s listing.

I don’t think Mark is out of his depth but it’s not really relevant as Jim Mellon is pulling the strings on this sale. I assume you don’t think Jim is out of his depth. They will update when is appropriate as there is no commercial benefit to providing a running commentary on progress, in fact it would be counterproductive.

Indeed that tweet is very positive news:

CleanTech Lithium

@ctlithium

🇪🇺🤝🇨🇱 The EU has signed a raw materials agreement with #Chile with a specific focus on sustainable production which is key to #CTL’s proposition of ‘green’ #lithium via Direct Lithium Extraction powered by renewable #energy.

Excellent presentation by a very bullish CEO has just finished.

Very undervalued he gave a figure on $500 million against current market cap of just over $100 million.

Odey only have 1.1% replaced by Lombard Odier who have 6.7%. Institutions make up 56% of the share register.

There will not be a cash raise as they are producing so much cash. They will self finance West Kenya.

The vat repayment will reduce debt to $2 million.

Now 60p Up 9.2% on volume of 510000. Back to where we were in late March on the way down from 89p. We now have proven results which confirm the earlier projections so a strong case for revisiting earlier highs as we are clearly in a better position than we were then.

There is a presentation and Q&A at 1pm today so you can ask the question about the VAT.

A 250000 Buy at 10.625p has just gone through at the highest price paid today. That has doubled the volume and now Up 8.2%. Let’s see if there are more to come.

If you are looking for examples of mining companies reporting drilling results leading to large increases of 100% + look at PRD 6p at the beginning of June and 16p today. Also remember that this weeks rise is just recovering an unjustified drop so we are only just recovering to April levels. I hope my optimism is not misplaced but as I have only just recovered to the level at which I invested I was certainly looking for it to be a lot higher when I originally invested!

Very pleasing to see a further 10% rise so far today building on yesterday’s 25% rise. We should not be surprised by this as there was no justification for the fall that took us below 40p. CTL is just approaching the 60p level it achieved in April. But what we should be looking at is the rise to 90p in February. That rise was fuelled by the good prospects for the company’s projects. What is now happening with the last RNS is that those prospects are being confirmed as reality, with more to follow in weeks. The 3 analysts offering 12 month price targets for Cleantech Lithium PLC have a median target of 290.00, with a high estimate of 295.00 and a low estimate of 250.00. The median estimate represents a 480.00% increase from the last price of 50.00.

Bearing in mind those broker targets it would be surprising if we didn’t see a return to the 90p level and a new high in the coming months as the further news lands.

Excellent News which should be reflected in the sp one would anticipate.

Exactly whimax that was my point which I made yesterday but clearly KB missed it as it doesn’t suit his narrative.

What he doesn’t seem to understand is that in terms of overall dilution it’s only the placing shares that cause dilution. If you buy in the market there is no dilution as those shares already exist. The company is increasing its cash from the placing so the dilution is minimal. As you so sensibly pointed out you can avoid dilution of your own holding by increasing your holding by 10%

We know from Julian’s interview yesterday on Proactive that a number of existing institutional investors took part in the placing. Which means they probably took place in the last placing at 18p and like me didn’t think the sp would drop below 18p again. They are being given the opportunity to provide the company with cash at 14p which is obviously useful to have to see us through to first gas as the FID has probably taken a little longer than originally anticipated and the onshore drilling does seem like a good opportunity to bring in earlier cash. So in many ways it is mutually beneficial to allow the II’s to top up at 14p to average them down from their 18p investment. The same option is available to existing investors via the open offer and if you wish to avoid dilution you will have the opportunity to pick up further shares at close to the placing price in the market. I have taken part in all the open offers in the last 2 years and bought additional shares at the same price and am happy with the gains I have made apart from the 18p placing but I am expecting that to be corrected very soon.

Good start Up 12.5% on volume of 386000 in the first 30 minutes of trading. ST having highlighted the broker target of a sevenfold increase in shareprice should see it start to move back towards its highs of earlier in the year, which would only be a one fold increase! Currently Number 2 on the Leaderboard.

Extract from Simon Thompson:

“De-risking the investment case

CleanTech is not a one-trick pony as the 2023 drilling programme on its Francisco Basin project has now completed. In the coming weeks, the directors expect to report a JORC resource upgrade on the maiden JORC inferred resource estimate (0.53mn LCE at an average grade of 305mg/Li), which was based on the first of four drilling wells completed before the Chilean winter break.

The scoping study is also nearing completion, having commenced in the fourth quarter of 2022, and will follow the release of the JORC resource upgrade. Bearing this in mind, Francisco Basin’s base-case production rate is likely to be similar to Laguna Verde, thus highlighting the strong fundamentals.

Despite the positive newsflow, CleanTech’s share price has traded sideways since the country’s government announced its National Lithium Strategy three months ago (‘State intervention has made this lithium company a bargain’, 24 April 2023). However, President Gabriel Boric and Minister of Mining, Marcela Hernando, have both pointed out that the government will only seek control of the operation in projects that are considered ‘strategic’. Currently, the only strategic lithium area is in Salar de Atacama.

CleanTech’s board has confirmed that the company’s projects are not subject to majority state participation requirements. However, as the company works towards licensing it may opt to invite the state to take a minority stake in its projects, thus aligning interests and allaying investor concerns.

Material undervaluation

So, although CleanTech’s share price remains the laggard in my 2023 Bargain Share Portfolio, I firmly believe that the potential for unlocking the value embedded in its key projects is being materially undervalued in the company’s £42.5mn market capitalisation. I am not the only one thinking this way as Canaccord Genuity’s 295p target price is more than seven times the current share price.

That target may seem punchy until you note that Arkansas-based Standard Lithium’s (US:SLI) has an enterprise valuation of C$945mn (£550mn) even though its lithium reserves are only twice as large as CleanTech’s. Buy.”

A lithium stock with a potential sevenfold return

Thsis small-cap is reporting positive news and de-risking its assets

July 17, 2023

By Simon Thompson

Extract:

“

Last Monday SCLP released an Update RNS which was clearly not well received by the market. Last Monday the sp was13.38p and the volume was fairly normal around 400000 as it was on Tuesday. Suddenly on Wednesday the volume shot up to 7.5 million as the sp dropped to 10.38p, a 3p drop from Monday. We then saw volumes of2.4 million,1.5 million and todays 3.1 million taking the sp down to 8.75p.

It is difficult to understand a 33% fall in a week on volume of 14.5 million which is just 1.78% of the company’s share capital changing hands.

This fall is in no way justified by the contents of the RNS but there has been a lot of negative comments on the bb’s which appears to have sparked some fear which the traders have seized upon. It is concerning that a fall of that magnitude can occur on a turnover of just 1.78% of the shares in issue. The flip side of that is that it can go back up just as quickly when the buying starts again. Personally I don’t think the company’s prospects have deteriorated at all in the last week and would expect a recovery as this week progresses.

Clear explanation of the recent fund raising and open offer. Good prospects from the onshore drilling which they believe mirrors the Anchois structure based on their 3D seismic. He thanks existing institutional share holders for investing again in the placing and welcomes new institutional investors. Looks as if institutional investors are pleased to acquire more at 14p in advance of the imminent news about Anchois.

It is worth noting that the largest shareholder in TLY increased its shareholding last week taking it to 12.24%. The largest shareholder is an institutional shareholder Stonehage Fleming.

Stonehage Fleming was formed in 2014, when Fleming Family & Partners, the family office run by family members of banking pioneer Robert Fleming, merged with Stonehage, an international family office.[1]

The Group manages assets worth more than £16.9bn and employs over 900 people across 19 offices and 14 geographies. They are a very experienced investor for family offices of very wealthy people. Their actions speak a lot louder to me than the deramping that is always rather prevalent on this bb.

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile for the EV transition, announces an upgraded JORC resource estimate of 1.8 million tonnes of lithium carbonate equivalent ("LCE") at a grade of 200mg/L lithium at the Laguna Verde project. This upgrade includes a significant increase (39%) in the Measured and Indicated resource to 1.1 million tonnes LCE, including a large increase (174%) in the Measured resource.

This increase to the Measured and Indicated resource will be used in the Pre-Feasibility Study ("PFS") which is currently underway. This study reinforces the project's path to production, capital requirements and will support CleanTech Lithium's engagement with potential strategic partners.

Back to October last year:

“ Scancell signs Commercial License Agreement with Genmab

Genmab granted worldwide license to anti-glycan monoclonal antibody generated via Scancell's proprietary GlyMab® platform, for the development and commercialisation of novel therapeutic products

Scancell to receive from Genmab an upfront payment as well as potential milestone payments of up to $208 million for each product developed and commercialised, up to a maximum of $624 million if Genmab develops and commercialises products across all defined modalities. Scancell will also receive low single digit royalties from Genmab on net sales of all commercialised products.

Scancell Holdings plc (AIM: SCLP), the developer of novel immunotherapies for the treatment of cancer and infectious disease, today announces a licensing agreement with Genmab (NASDAQ: GMAB), an international biotechnology company, to develop and commercialise a Scancell investigational anti-glycan monoclonal antibody into novel therapeutic products.”

As SCLP commercial acumen is criticised let’s not forget a deal is in place that could produce upto $624 million plus singl digit royalties. SCLP current market cap after this week’s ridiculous fall is only £80 million.

I hope the Chairman will do an interview and properly present the commercial attributes of the business with Lindy confining herself to the science.