Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Hi Bamps
Thanks buddy. I think we are on the same page. I was highlighting we have compromised during stages 3 and 4 to support the Joint venture. This was on the RNS dated 30th November 2020;
· In order to incorporate ongoing growth drilling activities, the parties have agreed a structure that allows Newcrest to deliver the Pre-Feasibility Study in Stage 4 (Pre-Feasibility Study originally to be delivered in Stage 3):
o If Newcrest then incurs an additional US$20 million by way of Farm-in Expenditure (other than Early Work and Growth Drilling Expenditure) in relation to the Havieron Joint Venture and also delivers a Pre-Feasibility Study within a period of 24 months, Newcrest will have the right to earn an additional 10% interest (cumulative interests 70% Newcrest; 30% Greatland). The Pre-Feasibility Study must be supported by an Indicated Mineral Resource.
They have taken full advantage in an underhand way. I actually think we may see a positive movement in the coming days and weeks as the idea of "friction" leads us more down the path of potential bids (if they want us out of the way)and we may see renewed interest from investors on this basis.
GLA MFU
Fabulous post Corradus. I alluded to this earlier. GGP made a compromise in November 2020 where originally they needed a full FS to earn the final 10% and get to 70%. We allowed NCM to earn this after the PFS instead. I am sure we must have had reasons and benefits for doing this however NCM have well and truly shoved it down our throats so as far as I concerned we learn our lesson from this and make absolutely sure they pay it back in spades when they come after the final 25%
GLA MFU
Dillon agree negotiations are long and hard -but what is not acceptable is deceit and not bringing out MRE2 and only informing SD immediately prior to NCM results is not how it is done.
What I wouldn't give right now for a Hav style strike at Scally and watch the charm offensive from NCM come grovelling
GLA MFU
Canary as Hydrogen alluded to yesterday NCM are ULTRA conservative in their JORC data and gave a compelling comparison of Solg who with c10% of the drilling/tonnage etc have produced a significantly higher MRE .Therefore my take would be that there would be a "high degree of confidence" given the huge volume of drilling and we could justify a very good price.
Given NCM's games now out there in the public I am also of the view they scaled back the PFS significantly in order to achieve this type of outcome. Just IMO
Thanks for the overview much appreciated
MFU
Canary thanks for your honest post
Hypothetically if we had 40million of inferred ounces and zero indicated are you saying under the Valim code we would be entitled to zero ££ ??
GLA MFU
Surely not !
Doublehun hi...if NCM say no to MRE2 then it goes to arbitration and we supply the independent assessor every single drill result from October 2020 (MRE1 cut off) until the day the process starts ....mmm I think that could work very nicely for GGP !
GLA MFU
5eights....anything now along those lines and it will be clear as (Shaun) Day that NCM are behind this manipulation.
GLA MFU
some fantastic posts and comments through last evening and this morning thanks to everyone. One thing is for sure anyone in any doubt as SD'S thoughts PLEASE WATCH THE INTERVIEW FROM YESTERDAY ON PROACTIVE ! Not once not twice but THREE X did SD state that the 5% cannot possibly be valued accurately without the upgraded resource figure. So unless there is something in the contract that states NCM can use the previously identified data then we should have nothing at this stage to worry about.
I am disappointed in NCM but not surprised. Anyone saying business is business doesn't get that this is an underhand move against the partner that delivered Havieron to them. Furthermore GGP brought forward in 2020/21 the option for NCM to increase their ownership % ahead of what they actually needed to do at the time. Can POI's remeber ? NCM have clearly short memories.
In sporting terms this feels like a transfer of a footballer where after 50 games the purchasing club has to be the selling club an additional £x million pounds and they decide to leave him in the reserves after 49 games ! Just my analogy :))
GLA & keep the faith
MFU
SAS he's got a point hasn't he ??
GLA MFU
Panama am I right that tonight is a multiple presentation from different companies ? If so then it is not bespoke to GGP so I cannot see anything significant or we would have an "exclusive"
What we do need to know is ;
1/Where is the 5% up to given it was stated in December they wanted to agree by mid Feb
2/Where is MRE2 given (as Timber alluded to yesterday) it was stated by SD "very early December 2021" then he later said "maybe pushed back to Jan/Feb" so where is it ?
For the first time I see strains here developing it may not be bad for us given we could down tools and seriously hold up future production or even sell our 25% to an outside major which would really put the cat in there. Business is business however given NCM have earned the right to 70% at a brilliant value for them it would not be difficult for them to pay generously for the 5% IMO? If they are going to play hard ball over the 5% then I see a situation where we will repay the compliment over the remaining 25% so ultimately NCM might lose out on that segment. All IMO
GLA MFU
Wishing all genuine holders the best of luck for tonight and ahead
I would hope if MRE2 is published that we fall between 6.5 and 7m oz eq (hopefully more but being realistic)-this would take us nicely towards half way between 4.2m MRE1 and what I would hope is the magic "10m ozs" at MRE3 at the end of this year. Any conclusion of 5% needs to be at the very minimum $150m for SD to earn his stripes. This should also help the SP avoid any repeat of the post PFS debacle
GLA MFU
indeed 5eights and some healthy buys here....really wish this was you know who starting a significant close !
14-Feb-22 08:20:54 13.65 400,000 Sell* 13.60 14.00 54.60k O
14-Feb-22 08:19:45 13.65 400,000 Sell* 13.60 14.00 54.60k O
14-Feb-22 08:19:20 13.64999 219,728 Sell* 13.60 14.00 29.99k O
14-Feb-22 08:18:50 13.64999 109,795 Sell* 13.60 14.00 14.99k O
They are defo buys I have been dummy trades and buys at 13.65p
GLA this week MFU
Serendipidity that is exactly the pro pi statement that GH would have done. SD up to this point has not been interested . I am not saying he has done a bad job and he talks passionately about GGP and our assets however he has to date shown no empathy or defence towards our SP since the start of his tenure. I emailed GGP twice about this before and after christmas and have not even had the courtesy of a reply/acknowledgement. So for me the jury is still out. The day he announces we have struck game changing mineralisation at one of our other tenements is the day I will give him the plaudits he will deserve. Until then it is primarily a legacy from GH and CB
GLA MFU
Merc I have recommended your last post as you have given your rationale. However I am pretty sure that he was referring to the PFS tonnage of 2m tonnes increasing to 3m by the FS stage later this year ? And I thought the PFS was based on a fraction of the resource at the time ie c 1.9m ozs ?
GLA MFU
Was having a nosey at KOD earlier and saw this from Merc
I am not questioning his loyalties :)) but I am wondering when did Shaun Day say this week that the MRE2 would be 5-6 m ozs ??
" Funny Jag, im considering doing the opposite, GGP MRE2 and 5% expectations are out of control, talk of £500m for 5% and a 8-10m oz resource upgrade are in cloud cukoo land, i can see it dropping to 10-12p by end of feb / early march
I’ll likely be adding here tomorrow with the proceeds, and there are a lot of proceeds ; )"
"a) GGP MRE2 results + 5% deal are not going to be the news many are hoping for, Shaun day said yesterday to expect 5-6m oz, while people on the BB are predicting 8-10m oz"
Any thoughts about that statement from Shaun Day or has Merc dreamt it ?
GLA MFU
Indeed daz and great post Babyinvestor thank you.
I can still dummy sell 300k shares at 14.83p
Why would they still need 300k shares when they have just taken 5m ??
False trade to spook investors ? I would have thought with 5m to shift they would not be accepting any sells until cleared ?
GLA MFU
PS Aquafresh was right this morning good call about the shorters hammering again today
Hi Welsh in the scheme of things it is only a small number putting it that way but it dropped us from 15.75 to sell on HL to just over 15p. Now if you were to replicate that over the next few days our SP could suddenly be back at 13p and who is gonna be happy about that ? Ah yes the shorters
GLA MFU
Paddy that's terrific. As you say we musn't forget that earlier in 2021 especially there were a number of updates with low numbers of assays due to covid delays etc. I remember one in particular of only 4 results. Having said that they have all been highly significant with great mineralisation. I would love to get to around 7-8m as it also tells the market it has nearly doubled in a slow 12 months results wise. That would really wet the appetite for MRE3 and DFS later this year
Best wishes and don't forget that pint (or a gallon) I promised you at Rowheath Sports Club just up from our youngest in Bourneville:))
GLA MFU
Paddy as a hugely respected pi/researcher/flag carrier et all can you give us a conservative estimate as to how you feel (opinion only) the figures in MRE2 might pan out ? I am hoping for 7-8m oz au equivalent-is that in your ball park ??
GLA MFU
massive shorting attack TomE since just before 2pm bar stewards :((