Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Akr you could try BZT it has great potential and a very knowledgeable shareholder base except a poster named Quack-a-day, he's mental.
"assuming some modicum of faith still exists!"
It doesn't! It did while I thought maybe a deal had been done for Toral but that has been shot to pieces and I have no faith in this new 'strategy' of some metal, somewhere, if they don't buy something that is already revenue generating then I think we're finished.
Topping up? The pair of you must be stark raving mad. I'll have several pints of whatever you're having!
So there was a deal that fell through at the last minute and now there's another deal. Sounds like bs to me to avoid getting voted out. How can you be that close to one deal while also stringing another company along?! It just doesn't add up to scrutiny.
Further to this we still haven't had an explanation as to what they intend to spend the placing money on. I maintain you can't raise an amount of money without knowing what your target is going to cost. LR said in that interview, several possible metals and many possible countries which doesn't sound like a plan to me! It sounds like a recipe to waste more time and more money as they continue to draw salaries.
What about the 2 questions I added cjen?
My plan is to stop them raising this cash for another asset when they seem to have no plan of their own!
The point I was making earlier was that we've all been living with 'digital' currency or 1's and zeros for some time regardless of what we call them.
We get paid straight into our bank account, we transfer money via an app, we pay bills via direct debits and standing orders and we spend with debit and credit cards. There is no real need for cash anymore, even some street beggars carry card readers! It's all 1's and zeros. Money goes in and comes out of your account but it's just numbers on a screen.
I know this is a slightly different point but I'm just prepping the case that digital cash is not some new fangled thing that none of us had any experience of.
Where has money traditionally sought refuge in times of crisis? Gold. What intrinsic value does gold have? Other than that which we ascribe to it? The general perception now is that digital currency in some form or another is here to stay with the way the world works nowadays with the online flow of money around the world I can only see 'Crypto' becoming ever more influential.
That is how I'd expect LR to describe Toral as he goes on his merry way destroying shareholders funds.
However (and I really hope he reads this), behind every fascinating rock, interesting metallurgy or mysterious 'deep structure' that he bangs on about there are investors that backed him and his team and have lost or are sitting on losses that run into the tens of thousands for some perhaps even hundreds of thousands.
I'd like to share mine. I've often stated it in percentage terms but that is pretty meaningless isn't it because I could have stuck £50 in.
I'm as of tonight down 90.32% in monetary terms I'm currently sitting on a loss of £76,938.98 or around half a years wages if you're LR or MC.
To me that is a lot of money. To those two perhaps not.
I just want to show that there is a very real cost to the actions of not caring about the shareprice, constant dilution and massively discounted placings to your mates and former colleagues.
I'm one investor, there must be thousands of retail investors also sitting on huge losses both from the fcr days and from euz.
This gravy train car crash of a company needs new management that can actually deliver some value for it's shareholders! On top of the financial cost there is the time cost, 4 years of nothing but a declining shareprice and declining investor sentiment. For former fcr investors it's probably much longer.
Make your votes count at the AGM, there's only one thing people like this understand and that's when their collective gravy train is threatened. Vote 'NO' to all six resolutions!
It's a digital currency, isn't that simple enough to understand?
Many things in the world have gone digital or virtual so it should hardly be a surprise that currency is going that way.
I do all of my banking online from an app, I transfer numbers on a screen from one account to another or from an account to a company to pay a bill or purchase a product never holding a paper note in my hand.
When I'm out I make nearly all purchases with a card again never handling a note. Covid sped up the demise of 'money' in the traditional sense but the writing was on the wall long before.
My only problem with Crypro is the sheer number of currencies or 'coins' available, I believe it is in the thousands. Obviously the vast majority will not survive but the more popular ones won't disappear overnight. As I said there are serious amounts of private equity in the crypto space backed by some very powerful people. Rich powerful people know how to hold onto and increase personal wealth. Follow the money.
Once more central banks become involved you'll stop hearing all these silly scare stories propagated by them themselves at the moment because they're playing catch up. The powerful banks and institutions late to the party don't want to lose control of the money supply and that is a definite risk unless they act fast. It is why very few of them will give credence to Crypto although many are now plowing funds in on the quiet and many central banks developing their own crypto currencies including the US, UK and China. Once in place I'll wager many of the scare stories will stop and suddenly Crypto will become a 'legitimate ' currency.
In a few years I'm sure the market will be much more tightly regulated and the number of digital currencies will be far fewer as barriers to entry are raised.
I think you missed the point Shed, the idea seems to be to annoy WAI to exert pressure on our management. I don't think anyone expects them to give us information about the PFS I certainly don't.
I've been saying on several other threads over the last six months that I believe a lot of money has been sucked out of AIM and probably many other markets and put into Crypto and it isn't just small investors or those looking for a thrill far from it. Huge sums of money are now in the Crypto space, trillions of dollars. With many institutions involved, so any idea that it's just another tulip bubble for me is gone now, there's too much private equity at risk. Also many central governments are now looking to introduce their own regulated Crypto currencies to try and compete. I'm not personally involved as yet but I do intend to get involved in the next 12 -18 months.
cjen much appreciated from me too, my question is this.
If you're raising money to buy an asset, how did you know how much to raise if you aren't sure what metal you want to go after, aren't sure which country you want to operate in and don't know how much a target might cost?
Also with time taken for effective due diligence isn't there a danger of the money running low once again before a suitable target has been identified or ending up with a sub par asset simply because of the time / money pressure constraint?
Boris doesn't know what he's doing because he's an idiot. His only interest is self interest, or helping out his cronies.
Surely that would be printed as two trades with two separate timestamps and at slightly different prices?
I've said all along I wouldn't add to this losing position and so far that has proven to be prudent. These old sayings like 'never add to losers' 'let your winners run' 'cut your losses' etc. all have validity because they've been proven wise over the test of time to either make or save you money.
If you're in hold but for God's sake don't add. If you're not in it's a gamble at best with no declared strategy for Toral and no declared strategy to buy another asset other than something in demand somewhere in the world.
I don’t think they've set a timeline for funding whizzer but I'll be very disappointed if it doesn't turn up this month let alone before Christmas after the PPA taking so long.
I got an email today from my broker reminding me that voters have the power to vote on company resolutions and apparently how easy it is via the broker. Quite timely I thought lol. I'll be investigating the process when I get a bit of time and can confirm that I will be voting NO to all 6 resolutions unless we get something from the BOD between now and the AGM that makes a bit more sense of this mess. If there is any issue then I will happily give my proxy to cjen.
I still think there is either a jv or outright sale lined up for Toral as nothing else makes sense including institutions topping up.
Teaye72, thx for that. Unfortunately none of that fills me with any confidence at all.
Is it the number of new threads you're starting?
Some interesting replies. Yes I could well be kidding myself and grasping at straws. I'm fully aware of that. If I am completely off the mark with the sale or jv (with someone else operating Toral) then as far as I'm concerned we're done for.
Why? Because the placing rns and subsequent interview were appalling. How the hell can you raise cash firstly without having a proper plan for Toral that states that it is definitely funded to PFS. Secondly why not use the cash to take it to BFS? Or we'll into it. The worst part is the complete lack of focus when he talked about half a dozen metals and 4 continents where we might invest! That basically says that they've done zero due diligence. So factor in time to decide what metals you're looking for, which continent you want to invest in then time to actually find a company and then do the DD and what if it shows that it's not as viable as you first thought? Back to the drawing board wasting x number of months to locate another company all the while burning through cash. This plan is the definition of insanity!
No one and I do mean no could surely be this stupid. Which leads me back to my hunch. There MUST be a sale or jv of some sort for Toral. If there isn't then the whole board should resign immediately it's as simple as that because nothing else make any sense.