Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Fantastic close to the week here. Limit orders to buy any good amounts of stock and gas surging into the weekend.
Duster - let's see, i'm standing by my 130s next week.
He's been looking at stuff already , an announcement could come at any moment. I would not want to be out at any point as reality is you'll miss a massive move just like that. It's one to buy and hold or scale into.
Beardozer - you want in , it's as simple as that and I don't blame you. Scale in, that's the way to go about this. AA has been looking at targets already as per the admin doc. When he announces these deals , you are either in or out. It's clear what he achieved at RRE so many will just buy and hold as they know the deal. Those "rainbow chasers" will be absorbed by new buyers or existing ones.
Simple as that in my view.
Antharry - Hi, Tullow has been brilliant hasn't it. It's doubled from the call and i've sold half as i said at the time just to de-risk.
On KIST, you are currently buying a cash shell but one that has £34m or so in the bank. Leading KIST is Andrew Austin who delivered mammoth returns only recently for RRE shareholders (around 4000%). He listed RRE at 50p and kept bring in new assets but at every point at a higher share price and raised minimal funds along the way that resulted in the share count being kept low. This time he's taken a bigger stake in Kistos (around 34%) and invested £10m+ of his own money. It's been circulated in the press and via the admission doc etc that will be focusing on buying uk and european assets and mainly gas one's - he did that a number of times of Rockrose including the very successful Dyas acquisition. Anyway, if you buy KIST it's because you believe he can repeat, or equal or whatever some of that magic at RRE. You wouldn't want to bet against him, I wouldn't any. When he announces that first reverse takeover the share price will likely be at least x2 these levels (in keeping with his record) which is why demand and volume is what is here. Anyway, that's my take and hope that helps.
If you think Andrew can deploy £34m then it's an absolute yes. His many acquisitions at RRE (and at higher share prices each time) show you what the man can do. Right now the market is only paying a 20% premium for that despite him delivering a 4000% return at RRE. That's why it shouldn't suprise anyone that the price is going up !
What will be interesting also is if does the share buyback programme again later on. Wouldn't surprise at all - he knows how to get a share price up!!
Looks like an outage in Norway is causing a big move up today in the gas market.
A lot more $$$ for JKX as a result.
And Oil is at $48!
The market knows that Andrew can work a deal (look how many he did at RRE from the bottom) and with him also putting in over £10m and taking around 34% of the equity he is fully incentivised to deliver the big time again. Yeah there will be those that trade a position but more serious investors will be eying up the bigger prize - the first RTO. That could quite easily happen at £2.5 to £3. Then you build from there. I'm still pinching myself that I could buy on day one at only a tiny premium to the IPO :)
Remember though he had restricted cash as well that was going into a decommissions pot or to pay for them as they tailed off. The bulk of them were in the 2030s also. Would be interesting to see if there was an interview on why he sold but if you were a shareholder who bought down in the low £s you had to be satifisifed especially when most O&G was doing nowt. I know a few who bought the top above £20 lost out and imagine that's where some of the discontent comes from
I have no idea mate , maybe he viewed the 4000% profit as enough at the time or maybe he felt he had too much oil exposure (oil had that freak move to below $0) which is why he's focusing on more natural gas assets this time.
Hi Duster. When he started at Rockrose he only started with £5m, that was the amount he raised at 50p. If he turned £5m into almost £300m you have to wonder what he will do with a starting point of £35m at Kistos.
Retail is trying to pile in and most are not going to sell in any size as who wants to be locked out !
According to Baron's tweet yesterday, over 7m traded since IPO. That's massive volume tbh
https://twitter.com/baroninvestment/status/1332037688543891457
Difference is that LBE doesn't have deal maker Andrew Austin in charge. Andrew has over 30% of Kistos, this is his new baby. He took RRE from 50p to £18.500 within years without raising much cash. He'll eclipse that this time IMVHO with more resources from the outset. And once new deals are announced, ii's that couldn't participate in the IPO will be. A strong day here today, i'll be really surprised if this doesn't keep building as reality is few will want to be out. One deal could see a reverse takeover at nearer to £3.
I really like this outfit but if that's the case then I'm not letting my money sit here for a year doing nowt.
I've moved into new O&G play Kistos instead. Andrew Austin took Rockrose from 50p to £18.50p in 4 years (and he only started with £5m) and this time he starts with £35m at Kistos. Reckon it's a bargain at only 11% above IPO. It's moving up though, second day in a row.
Good luck all here though, i'll keep an eye on the newsflow for sure and if anything positive happens I'll buy back in and don't mind paying a higher price either.
Cash will be somewhere between $40 and $50m next year (closer to $50m if they have some more good IG results) so buying at this price is a no brainer.
I'll be slicing only a few when in the 50s
Because the market knows that paying a 9% premium is an absolute gift compared to the thousands of % that could be on offer is AA does it again. You wouldn't bet against him that's for sure. He's come back because he wants to do it again.
Well pleased i got in yesterday at 105, thought i'd be paying closer to 120p tbh
Reckon there will be a gigantic "Fear of Missing out" when this starts winding upwards.
Andrew Austin is in for £10.5M at an average of 0.78p.
He is the guy to be taking note of, paying at 107p is hardly a premium given what he achieved at Rockrose.