Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I found it disappointing reading, and the initial SP direction was unsurprising to me. I began to wonder if I should offload to buy again at a lower price as a way to recoup current negative position, but have opted not to as it now appears the initial movement was an over reaction and, somewhat surprisingly, it would seem the interims are unlikely to dent the generally non-negative sentiment towards WSG. Maybe this has something to do with more institutional interest in WSG.
Well worth holding onto and, with a number if divi payments just about to come in, plan to buy some more.
Wasn't Malcolm querying why London and not Banbury at the AGM; if so, he, or you if the same Malcolm, didn't sound impressed by having to come to London. I also got the impression PF was tiring of Malcolm's/your questioning!
I think we will have to wait and see if it is their intention to spread the cost over the life expectancy/duration of equipment/term of contract.
Looking at last year's income statement, cost of sales was 60% of income, £6m on £9.9m of turnover, which seems a lot unless a high level of expenses are attributed to the year incurred.
Gibbo, I was not stating a fact; it was a comment of my expectations.
PF did repeat what he said in the RNS that these two projects required various initial preparation costs, he stated at the AGM that funds would come from the revenue stream of these two projects, so my "expectation" is that these expenses would result in little profit, but only "initially". Although I know there will be ongoing costs, maintenance and upgrading, throughout the term of the contract, I see no reason why these two contracts will not be highly profitable, bearing in mind the comment about increase traffic going on the bottom line.
So, my take is to expect:-
Prospects - very good. Potential investors should start monitoring the company and get ready to pounce, otherwise you will be kicking yourself.
3rd large contract this year.
Saudi Arabia - to come on board, but any contracts not until next year.
Future Funding - maybe some more dilution but more shareholder friendly avenues likely to be the way forward.
DRC and Liberia - revenues from these two to fund expenses, so do not expect much profit initially, but less likely to see additional funding to support these two contracts.
For those not able to let Iran go - live and hope as has been the case for a while, so no change and not banking on it either.
Director Dealing - not convinced any meaningful action short or long term or via monthly drip feeding, but hop to be wrong.
Malcolm - did not like to travel to London.
Share Price - based on AGM, very little initial reaction.
Time for lunch.