Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I don't think it is right to describe the samples as coming from "a relatively small area". My understanding of the RNS is that they took 40 samples from different areas in level 4. Using their (dry weight) figures the weighted average Au grade is 3.5 oz per ton and it is worth noting that is for samples without visible gold. The 150 ton bulk sample they are planning will produce about 500 oz of Au if it contains similar concentrations, and it does not all need to be drilled or blasted because there is loose rock which was left at level 4. At over $2200 an ounce that is worth over a million dollars or about £900 000. That is without any premium attached.
Herb - I also noticed the copper ref so looked at the original om Alba website
"Since the implementation of mitigation measures within the settlement tank being used to
remove excess solids, daily analysis of the tank discharge consistently shows that dissolved
Cu is
Robbie - if you meant to say that you don't believe him and that he has not bought in during the last 18 months then fair enough, but your post leaves the impression that " he won’t buy in & share in our pain" implying that he holds no shares and therefore is unaffected by the drop in the SP. The facts are that he holds in excess of 48M shares and his shareholding drops in value by more than £4800 when the sp drops by 0.01p. There is often criticism of the company on here for issuing statements that are a bit vague or incomplete. I think we should all try to avoid that same shortcoming.
Talking of trust, I hope any "Action Group" will try to focus on getting some facts approximately correct. It is not true that George F has not "bought in" - from LSE Jan 22
"George Frangeskides, Executive Chairman, has informed the Company that he has purchased 10,221,909 ordinary shares in the Company at an average price of 0.1475p into an ISA, each as set out below. Following these purchases, George Frangeskides now owns a total holding of 48,115,199 ordinary shares, representing 0.75 per cent. of the issued share capital in the Company. "
Alba did not sell their Greenland assets andthey did not rceive/spend £10M. They exchanged the assets for 54% of shares in the new co GROC and the £10M which ws raised by selling the other 46% of GROC went into GROC not Alba. This is a misunderstanding which has been repeated on here many times.
UKOG still holds the same share of HH (about 90%) as it did before its latest share dilution so how has Alba's stake in HH been diluted? UKOG and ALBA are partners in HH and what happens to the number of UKOG shares is irrelevant. It is not a "fact" that ALBA' share of HH has been diluted by the latest change in UKOG. For anyone investing here it would be a good idea to have a grasp of at least some of the basic facts about the company.
You can always ask the court for an appeal at the next level. If it is denied then you can ask the next level court if they will allow an appeal. So in this case either the Court of Appeal has allowed an appeal to the Supreme Court, or the Appeal Court has denied an appeal so plaintiffs have gone to the Supreme Court which has allowed an appeal. If they lose in the Supreme Court there is also the possibility of an appeal toe the European Court of Human Rights. Like it or not that is the system, and we do manage to separate the judiciary from political influence a lot better than other countries. One consolation is that the development of HH can go ahead in the meantime.
Cat It is much worse than that, there are people posting on here who can't tell the difference between 2000% and 2000 x . Of course if you think 2000 x is even a vaguely remote possibility then 10 x or 20 x must seem quite modest.
No its not your fault, but if you believe what other people post then presumably you also think that people are going to believe what you post. Perhaps you should be a bit more cautious eg you say Alba have made a £20M loss - they have not, although the MCap may have fallen by £20M since year highs, but that is a completely different matter from a loss of £20M from company operations/business.
Sageman you are right there are lots of "investors" on here who thought that Alba would be getting millions from GROC, that Alba has given away its assets, that Alba shareholders would be getting shares in GROC etc etc. Lets hope that GROC makes progress and the value of our shareholding there increases. Lets also hope the ALBA BOD can now focus on our gold assets and start to demonstrate what the potential is.
The great majority of the cash raised by GROC will stay with GROC so people should not be fooled by misleading statements into thinking that Alba will be getting £4M . ALBA has exchanged its Greenland assets for a 54% stake in GROC that is the benefit to shareholders. If GROC does well and its SP rises then so does the value of ALBA's share holding.
Andysel, yes you are right - I know that which is why I asked the question. Unfortunately there have been several posters on here suggesting that the £6M from the IPO will be coming to Alba, as if Alba has sold its assets. The Alba sp may rise (I hope it does) when Greenroc launches but that will be because of improving sentiment, not money from the IPO which, as you point out, stays with Greenroc.
Can you explain why you think Alba will get £6 million? They are not selling their GL assets but putting them into the new company. Assume the assets are worth £6M and we get 50% of shares in newco and the other 50% are sold for £6M. After IPO Alba will own 50% of newco which has assets worth £6M and £6M cash = £12M, so our share of newco is worth £6M. Same applies for new shareholders in newco. My understanding is that the money raised in IPO is to progress work in GL by newco. Alba's sp will only rise following the IPO is there is a change in sentiment.