Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Potnak - I don't think Sar have any choice as to when they issue more placement shares to RF. See from initial August RNS:
· If the Investors have disposed of all the Initial Placing Shares or subsequent Placing Shares during the term of the Facility and amounts remain outstanding, the Investors can issue subscription notices to the Company to receive further subscription shares (the "Subscription Shares").
My reading of this is that its RF who decide. Perhaps they are now hoping to be paid in cash instead of having to sell many more very cheap shares?
It practically has in a year! Don't forget the SP 52 weeks ago was 625.8p
But I think you probably mean double from here? My eoy target for 2027 is £24.70 , which, given inflation and dilution would be equivalent to its all time high . So my answer is, yes its possible.
Hi PCS.
Yes, RF get a 4.5% placing fee straight off for each deposit, and have already had £50k implementation fee in shares, so the 5-10% is an extra. They may well still hold the best part of £1m shares not yet claimed, which could currently be issued with ref to our measly SP.
As for the 90k trade. All the buys today have been well above 32.72p, and almost all the sells have been blue!
But ye, will RF have the cash for deposit 4?
Just a reminder, this is why they make a profit on their sales: They get "10% discount to the average of the lowest 4 daily VWAPs in the 15 trading days preceding each relevant subscription notice " credit for each sale.
But RF are dumping shares at any price! 90k today @1615, which is what triggered the buys at the end of the day.
RF make their 5-10% (or whatever) profit on every share they sell, irrespective of the SP. So it is in their interest to sell as many as possible to maximise the size of the 4th deposit. It will presumably give them another batch of warrants at a low price. This is where they could make a killing.
So I expect a few more days of heavy selling by RF, and then an RNS to tell us about the 3rd and potentially 4th deposits.
It's crazy. 32.8p to sell and well over 35p to buy.
Why not post a realistic spread, eg 32p - 38p ? Do they want any trade today?
It is about time the spread was quoted in pennies or 2ps rather than 5ps.
The 3 conditions:
3 Perhaps the easiest. Assuming that almost all the shares given in the first two reported deposits, at an average price of 60p for deposit1 and 40p for deposit2, then about £1.34m is paid off and £0.96 outstanding. So just past the test.
1. At SP of 35p Mcap is around £24.7m. Less £0.96m outstanding £0.3m deposit 3, leaving just £1.21m for deposit 4.
If SP falls further this would reduce to £1..04m @32.5p, or £0.86m @ 30p.
2. If trade sales volume for the next week is similar to last week (around £75k per day) the 20 and 10 day averages then
translates to £1.1m for the 4th deposit.
Conclusion: Likely to be short of the projected £1.4m on 2 counts.
caveat: Based on a few assumptions which are no more than best guesses!
RF must be selling otherwise one or more of these conditions (from the original RNS) would have no chance of being fulfilled:
a) the maximum amount deposited and outstanding being not greater than 10% of the market capitalisation of the Company at the time of the deposit.
b) the maximum amount drawn and outstanding being not greater than a 15x multiple to the 10-day and 20-day Average Daily Traded Value of the Company's ordinary shares.
c) maximum amount deposited and outstanding being not greater than £1 million prior to the deposit.
The trouble is, the more I read these conditions the more I am confused as to what they actually mean. Is there a difference between amount deposited and amount drawn? I can't think what it is.
Could RF have been allotted more shares for the first or second deposits without us getting an RNS? If not, I can't see how the existing deposits can be under £1m outstanding?
Anyone got any answers??
Strange goings on this afternoon with prices quoted.
I can't get a quote to buy any at all, and its 33.2p to sell over 10k.
So why is there a 10k sell at 31p? And the huge recent trade must also be a sell.
Is a very big buy in the pipeline?
I think even 20 p in the next month or so is very unlikely.
From the evidence of Friday's massive volume, if the price to buy drops below 30p there could be enough buying to easily clear RF out of their current holding. (I will certainly buy a few more.) Yes, I know they will get more, but You've got to think in terms of percentage drop from where we are, not absolute drop.
More than 160k traded today, I think . (LSE makes it £153k)
So that bumps up the moving average to over 60k over the last 8 days. (Before that a string of low volume days.)
A 60k average equate to £0.9m drawdown, though.
I can't see how we're going to average £69k of trades over the next 12 days, though.