Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
RNS extract ‘Discussions with secured creditors, and existing and new potential investors on alternative scenarios will continue to be held with a view to a potential restructuring solution to attempt to achieve some recovery value to our creditors. These include raising financing at the subsidiary level, or disposing of the Project whilst in care and maintenance, thereby maintaining the prospect of the Project as a going concern, liquidation of the assets of the Project, or the consideration of other options available under Brazilian laws to attempt to achieve the best possible recovery to the Company's creditors while minimising potential liabilities. As at 10 April 2024, the Company had a cash balance of US$16.2 million (excluding cash that is segregated for the development of the Vermelho Project).‘
Yep this is it final stages now, let the re-rate begin. Derampers will be checking out shortly as this as low as it goes…as the fun is now over!
George Roach, CEO, commented, "The final step in commissioning Zulu looks to be the changes to be made to the material flow through the floatation plant as described in our announcement of 10 April 2024. These changes expect to see the floatation plant able to accept the design tonnage and to remove the restrictions on potential spodumene concentrate production.
The required piping and valves are expected to load for site by Tuesday 16 April, and the expectation is that fitment could be complete as early as the week commencing 22 April 2024. A further update will be made in due course".
Commenting on the Equity Subscription and Reclamation Investment Stefan Olivier, CEO, stated: "The equity subscription and cash generative investment announced today are material for the Company. Completing the subscription at more than 100% premium to the current share price demonstrated confidence in the underlying value in ADM, quality of our new investment and the board's strategy that we are executing."
Trouble is they’ve already announced placing and these are normally heavily discounted, so the rise today is a surprise (MMs help) but now this is weighing on the SP..