Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I bought at the Q1 production news and it tanked haha. But looking like it was the right decision now. The share price was up at 5.5p recently and in a much more uncertain position. Some patience and we will easily see that imo.
I was also in the stock last year when people were falling over themselves to buy at 15p.
"Cash reserves of £12.1 million as at 31 December 2022 (31 December 2021: £26.3 milion) with borrowings under the EFF of £36.8 million (31 Dec 2021: £nil) and a tax rebate receivable of £40.8 million (31 December 2021: £8.1 million) due in November 2023. "
Not sure your figures are accurate. Above is from the recent audited results.
I thought the update was quite positive. If BMN can keep costs under control as shown in today's update, it should filter through to the share price. Took some last week and topped up today as well. I can see a run back >5p soon.
So the plan is to potentially drill a side track? On twitter some people have said it's a duster. But the presence of hydrocarbons is a good sign imo. Still a chance they could make a commercial discovery? Just deeper than they thought? What's the point on sidetracking a well and keeping the rig on hire longer than you need to?
Opinions?
In 6 months the debt was reduced from $2.3 to $1.1B. HBR are still worth what they were worth a year ago....probably debt free shortly. At that time what do they spend all the money on? The share price just reflects market weakness imo. Next year will be a good year for HBR.