Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Scally - Agreed, I lost faith a couple of weeks ago and sold my holding. Was starting to have second thoughts but glad I didn't jump back in now. Feel for all the LTH and anyone who got burnt by ANGS recently. Wish you all the best in your future investments & endeavours.
The facts in this case are self explanatory. There has been very little room left for interpretation. What we know from the most recent RNS:
- Preparations have been completed ahead of schedule
- All 3 sites are scheduled to spud within July 2019 (with 2 rigs being mobilised simultaneously)
- Heron 1 has been deemed as an appraisal well and will be first in line...
- The Velociraptor Prospect has been chosen as the next drilling target in Block V and permitting is progressing
Regardless of perception, I believe the only aspect holding the SP back at the moment is time. At this stage, it will be mid August until we receive results from Heron (providing there are no significant delays) and forecast that the rise will come in anticipation. Until then I expect to see small rises and drops... Looking forward to the flood of updates in July as the drilling kicks off! GLA
blissful - Although I agree with the fundamentals raised in your post, there are still too many variables which cannot be priced in until they come to fruition in my opinion. I believe that Heron is pivotal to changing market sentiment and getting that right is imperative to getting us off to the right start. If Heron (I use the word 'if' as its not a 'sure thing' even though cos is 75%+) delivers, then we should see an SP re-rate almost immediately.
That's irrespective of the value it would add with regards to increasing confidence and sentiment with the drills to follow almost immediately (as this would be hard to measure monetarily). As mentioned, this has to be one of the most exciting prospects in market based on the upcoming activity and opportunity it has to offer. The patient shall be rewarded here... All IMO of course...
There is an estimated 40 days from drill mobilisation to logging. I anticipate if funds are to be raised it would most likely be closer to the end of that 40 day period. From a strategic perspective this would ensure they maximise in the SP as it should be closest to its peak (pre results) IMO.
That being said, I agree with SirBob regarding fund raising prior to results as I have seen this time and time again across a number of oil companies. Until the official announcement comes out it's all rumours and assumptions which don't usually work well with AIM in my experience... Until then, looking forward to rig mobilisation news early next week followed by a flow of updates regarding all sites! GLA
It was heavily oversold after the RNS and I believe that is due to the recent change of tone with regards to Brockham. They had the opportunity to 'manage expectations' prior to initiating stage 1, however, decided to do so after they had isolated the water. I planned to top up at these levels but was reluctant as the most recent news didn't inspire confidence.
Either way, scared to say it but here it is... 'Looks like we have hit the bottom now!' GLA
Still trying to crunch the numbers as there is a significant amount of information to break down. If anyone could share the estimated reserves for each target it would be much appreciated, otherwise will take a look tonight when I get in. Thanks in advance
Given the recent activity I would see anything above 7p today as a great close... Its important to manage expectations IMO. There will be an abundance of news flow in the coming weeks and I personally would prefer slow and steady rises to immediate spikes. This is will positioned for double digits towards the end of the month, price movement between then is white noise (for me anyway) with the potential to top up on any dips. GLA
Ojay - haha... I always welcome a well balanced debate and opinion, even if it opposes my position... However, if individuals are going to de-ramp, put some effort in! At least make it a little challenging...
TSI12 - You seem pretty certain so I can only assume that you are basing your assumption on some form of TA as market analysis based on fundamentals would indicate a bullish approach. Price looks like its bounced of the MA10 line with support 1 at 7.23p and support 2 at 6.67p on the 4 hour chart. Interested in your interpretation (unless you are just plucking numbers out of thin air of course...)
If the news flow is consistent and there aren't any delays, I personally doubt it, however, will welcome any drop as will be topping up in tranches on certain targets. For those who haven't seen yet, might be worth keeping an eye on the Twitter feed as I expect pics will be flowing through as we progress with prep work and drilling.
https://twitter.com/Petro_Matad
Furthermore, the most recent presentation (posted 27th March 2019) gives a great overview of what we are dealing with and is definitely worth a watch... Exciting times ahead!
https://www.proactiveinvestors.co.uk/companies/stocktube/12942/petro-matad-limited---oil-capital-conference-march-2019-12942.html
We are now on day 5 of site preparations with Heron 1 expected to be completed by Tuesday 11th June 2019 and The DQE rig has completed its pre-move testing and certification and the required electrical upgrade is expected to be completed in the first week of June... With so much going on there should be a sufficient flow of updates in the coming weeks building up to spud in July.
Providing all goes as scheduled (which appears to be the case to date), the flow of news/updates should keep upward SP momentum and sentiment in the market. With regards to the recent price activity, considering this is circa 50% up from last week Tuesday, the price is holding considerably well which demonstrates that many are happy to take their positions and hold. That being said, as previously stated, consolidation and profit taking is completely understandable and expected. Furthermore, due to the attention this will get in the coming weeks it will be traded heavily so expect some fluctuations, however, closer to early/mid July I do not think anyone will be able to get in at these levels. Onward and upwards from here... All IMO, GLA
Thats strange... I clearly remember hearing that they raised circa $33m, are fully funded for this years program with each well costing in the region of $3m each (rough figures, cat recall the exact ones). Seeing as you seem soo certain though, would be interested in your take of their current financial position and how you concluded that further funding is required... Looking forward to your response.
Agreed - They would have most likely thrown some contingencies with the timelines to avoid delays. Would be surprised if things move ahead slightly ahead of schedule. On another note, 465k buy just gone through and some big trades flowing in now... Looking solid atm. GLA
Hawkspear - Based on L2 price movement looks normal to me. 8.07p paid now... Like I said consolidation is expected on these levels as its practically risen about 60% since early last week. Buying pressure is still strong, if this continues we should see a close today over 8p comfortably IMO. Onward and upwards from there...
Consolidation at these levels was always expected IMO but it looks like we are about to test 8p again. Good volume flowing through here since the end of last week and should see some traction towards the next resistance levels in the coming week.