Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
You have got to be kidding. Trew quite clearly hasn't got a clue what he is doing, along with the rest of them.
20koz guidance for 2022 ended up being less than 6k, there is 5koz still in the heap leaches that they can't get out and with almost half of 2023 gone, they have poured 250oz. Does that sound like the operation of someone who knows what they are doing?
DMAX should commission these lot for a specials episode of "African gold hunters" where we can watch the calamity unfold
Awful RNS.
Bought some tractors. Revised how much digging to do. Messed up the leaving process with too little cement and basically have to start again.
All whilst gold has been sat close to $2000/oz. What a missed opportunity.
Still no production guidance. Rainy season delays being quoted. Costs being noted as high still.
Nothing positive in there, what a shambles!
Patience? Emma has tested every sinew of patience I have ever had in my body.
Yes the BOD are invested here which is about the only thing that keep any hope for me. BUT they contempt for shareholders, lies, excuses have worn very very thin. They have one last chance to get this right otherwise it's curtains!
Next operational update I am waiting for Emma to say "It's been a bit cold in Ghana lately so the gold has gone into hibernation and won't come out"
Deano - I am 100% voting against this resolution as I am so far underwater I would rather take this ship down with me and them on it than let them delist, take it on the cheap and reap all the rewards for our long suffering.
It's no coincidence SF is buying up as much as he can to get the votes needed to pass this. He's acting as Hanno's little puppet in all this. Utter slime ball Hanno
What is a “Mandatory Bid”?
In M&A, a Mandatory Bid, or Mandatory Offer is a bid or an offer made by a company or any person acting alone or in collaboration with the “Bidder” acquiring shares of a “Target” exceeding a certain shareholding threshold. As part of a corporate takeover process, the Mandatory Bid is governed by securities laws, regulations, and stock exchange rules. In the UK, corporate takeovers are regulated by The City Code on Takeovers and Mergers (the “Takeover Code”).
In a Mandatory Bid, any person or entity, whether acting alone or in concert, who can exercise at least a certain threshold (eg. 30%) of the voting rights at a general meeting of shareholders must make a bid or offer to the remaining shareholders a buy-out of all the minority shares in the company. The bidder must offer shareholders of the target company the ‘equitable price’ for their shares.
Key Learning Points
Threshold – Thresholds for mandatory bids vary between countries. In most countries, such as the United Kingdom, Hong Kong, and Germany, the threshold is 30%. There are no provisions for mandatory bids in the United States.
You’re spot on there culpepper I’m saying we were fully funded for 30% of the PFS I.E. starter mine which is a fraction of a fraction of Havieron.
This was never going to produce the FCF to fund all of the ongoing development needed to go from a 1.6m reserve (PFS) to 6moz to what is likely 10moz+
Additional funding was going to be required. It’s just a question of what is this potential raise actually for….and now with ASX listing, Newmont/Newcrest merger etc its added so much speculation that the possibility of it happening is seen as eternally negative.
As I have said, if it’s a requirement of BOA for additional debt financing to fund buying more of Havieron….people will soon change their tune.
If it’s just for giving Aussie instis access to a holding, will be less than impressed
It’s a poor RNS that only fuels speculation which is very unhelpful. BUT I’m going to reserve judgement until I know if it is happening and if so, what the reasoning is.
If it’s to let Aussie instis in on the cheap then yes I’ll be livid and Shaun will join the long list of AIM scum bags.
Or
He has said we were funded for our 30% of the metrics on the PFS. If this is being used as an opportunity to raise equity necessary for a further funding package which will facilitate GGP owning more of Havieron or an alternative mining plan, I will be more open to that.
The Newmont situation puts a lot of options in play and GGP need to be on top of those to ensure they don’t get shafted by what is now the worlds biggest gold producer by a long way.
A lot of chess to be played here and GGp are relative minnow….
A lot of words in that RNS to basically say we’ve been busy collecting weather data but nothing else has really happened and nothing will happen until we can sort financing out…..caveated in the going concern statement (I know they have to) that finance may not be sorted.
Dull, boring and very little progress here.
Wyndrum. I have to point out to you…
“6% interest over 5 years is 30%, add 30% to the loan and divide that by the 20 repayments.”
The loan amortises quarterly when they pay it off, so interest is only due on the remaining loan amount. So to be trying to make out Avacta pay 30% of the £55m amount is either naive or crafty of you.
The annual effective rate of the total loan amount will be much less than 30% over the 5 years.
Imagine if you paid interest on the full original amount of your mortgage for the life of the loan despite paying off principal monthly….NOPE!
3 months since they raised the BlueGold cash and still not a peep from Emma or the company. Unsurprising but it really is a p*ss take the way GRL treat shareholders with such contempt.
This next operational update better be good….and let’s hope we don’t have to wait until 2024 for it!
I was 90% down on my investment before this whole debacle so no way am I going to sell to recover peanuts for these f*ckers to mop up and take it on the cheap. It’s so obvious what they’re trying to do…
I’ll be voting this down and not selling a bean. I’d much rather get nothing trying to stop them in their game than roll over and let it happen.
Would encourage others to do the same!
Agreed AM that the dinosaurs are finally going. This company has quite a suite of assets and desperately needs someone at the helm that knows how to operate in this market - which is very different to 17 years ago!
It’s been made clear 2moz is the resource amount that will attract proper interest for sale (or JV?). No idea why it took 2 strategic reviews to determine that! However, economic uncertainty driving gold past $2000, commodity super cycle coming for battery metals and major consolidation in the mining industry should drive M&A (just look at Newmont bidding for Newcrest) SHOULD provide an opportunity for LND to finally capitalise on their assets.
It just needs someone with foresight and quick acting to strike while the iron is hot. Bill is not that man and never was!
Just remember £14m Mcap for a 1.5moz gold reserve values GOLD ONLY in the ground at $9/oz when gold is $2000.
All I hope is that BlueGold did their due diligence and it was clear that the funding they provided would have a material impact and provide them a significant short term return.
Maybe? Surely? Could it be? GRL have cracked it just as gold hits $2000/oz...
Yep it’s so obvious now why Scott Fletcher has built such a stake in the Co. It’s clearly been the plan for a while and and such a majority shareholder, he can sway the vote.
Hanno has basically paid him to be a puppet in this whole game who allowed him to shaft PIs and them both to come out on top for his little venture…risk free!
Slimey slimey scumbag. Never thought there would be a worse crook on AIM than KIBOs Coetzee but Hanno just topped the list!
No Ben. I was talking about gross profits….given the knowns we have relate to that. Fully appreciate there are other costs involved and net income will be lower - but given there isn’t any update/guidance on that, I’m not trying to calculate it
Production quantity is of course important as it reduces the cash costs for the business. However, the weak ZAR will have helped offset that for Q1.
All the factors they have put into place over the quarter signal a promising Q2 production figure, won’t take much to get that back and BMN clearly agree keeping production guidance for the year as is.
What is important near term for CLN resolution is sales. At a sale price of $40 and cash cost of $26 that’s a healthy margin of $14/kgv.
That should be a profit of about $14m for the quarter. Not factoring in a portion of those sales were of stockpile for which costs have already been recognised and incurred.
Capex also materially reduced for 2023, with weak ZAR lowering that also.
What guidance has been missed coffeecups? Annual guidance maintained.
There is no quarterly guidance because of the variability across the year for things such as planned maintenance.
But you knew that didn’t you….got to try harder!