Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
It may more than double from here as the plan is to have the warrants exercised at 1.65 soon. This side of Xmas!!!
PF is not dumping shares. Its the confetti issued for fees .
Agree with the Financial mess comment 100%. GL & crew have been dishonest about disclosure of true losses regarding hedge. There is also some "missing revenue". Where has the £9 million surplus revenue disappeared? Also company statement about production at 90/95K daily production is at odds with verifiable number of 100K plus therms per day.
Either way the decks are now cleared. We know about the total debt and £300 million worth of asset without the storage. the only variable is the gas price which has begun its northwards journey.
I have no doubt that the SP will recover with a vengeance once deceitful GL is out of the way shortly.
BP- you are double counting some debt. Please revisit your figures.
It would more than double as Angus ties up with a major for storage. Storage is worth around £80 million plus in its own right.
RNS will be required as the FEE based confetti has already been coming out .
There may be a pleasant change in that respect now that Gl, full of BS, is out.
Robday 10.19 post- best post of the day. We should forget about sunk costs and evaluate whats ahead .
Storage alone will be of gigantic value when implemented. Companies have chosen to incur close to billion £s for lesser capacity.
Dont be surprised that Forum may end up buying back ,now, that GL is gone.
Very interesting question by Bubblepoint - Whats happened to the cash raised and generated from sales? Angs has been generating revenues. Has GL misappropriated and thus his departure!!
The refinancing brings a lot of clarity.
Geothermal wastage out and Storage IN with 3 majors interested and one strategic partner to be chosen by end of this year. Additional revenue streams which could be very significant and worth more than the entire existing MCAP of the company .
Dividends back on the table with hedge being renegotiated.
Asset value of SFBY (gas plus storage) would exceed £300 million and all this will become transparent by the end of this year with clear finance in place.
the new focus in fully developing SFBY to its full potential with heavyweights definitely justifies a very substantial re-rate.
Caposoka- They are spending huge sums at extortion prices on studies to justify their existence. Its almost fraudulent!! geothermal will not produce revenues for many years and will cost far more than the entire existing market cap of the company. It should be obvious that GL & crew intend to squander the monies from gas and that is duly reflected in the share price. Unfortunately confetti and wonga loans arranged by GL are destroying shareholder value and its the BOD which is sabotaging.
Cut the dead wood and dead projects and stop the wastage by GL.
Ocelot- GL and crew are misappropriating funds at worse or being simply incompetent at the least . Funds have been raised in the past to pay for hedge and cost over runs and those funds have disappeared in a black hole. Additionally, they cant manage their legacy oil assets or SFBY properly and yet GL & crew wish to blow funds on geothermal. That's just outrageous. The deceit from GL & crew never ceases and the BOD are sabotaging the company. Another £6 million loan with arrangement fees in shares at extortionate prices is issuing confetti = THEFT. SP confirms that. GL & crew should resign .
GL is unreliable and certainly its his 0 credibility which is the sole cause of current share price. He should be made to resign and most definitely not allowed to issue confetti. So far the shareholders are paying for incompetence, negligence and cost over runs and without doubt we should abandon the BS of geothermal trash to keep GL in a job. The man can not manage anything. Absolutely disgusted.
Could not agree more
GL should resign and take his incompetence,negligence ,deceit and geothermal with him.
Appear to be stealthy buys.
Gallader- is not the item 3) Derivative catch up payment outstanding £4.175m settled via the lumpy placing already?
John Henry
On winter prices, the revenue will be around £3.5 million per month. Its the average £2.5 million
The storage capacity is almost worth as much as the gas field. and there is more gas there. the debt is certainly not £24 million. No brainer.
The debt is very easily manageable now that we have income flowing in. The reduction in gas prices has a direct impact on income that we are generating. Even at these low prices , we are bringing in over £1.5 million clear per month and this will double up in winter as gas prices rise. assuming an average gas price of £1 per therm or the year, we should be making a clear £24 million per year.