Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Thanks GaiasK I slightly got that wrong in as much as given PLL had funded exploration and DFS to the tune of $17m and that the dfs had met the agreed criteria it was a given that PLL would acquire the 22.5 %
Not necessarily agreeing with you there although the market in ALL is unsettled that is for sure. We might get an update after this weekend after ALL and Piedmonts meeting in Ghana ..also as I said the other day it must be getting close to see if PLL make a decision to enter stage 3 of the agreement with Atlantic..with reference to the recent announcement by the Minerals and Mining it might be worth noting that as per the existing act non- Ghanaians can obtain a stability agreement which protects the holder of a mining lease for 15 years from future changes in the law and when an investment is over 500 million US which could indeed apply to ALL if they end up mining a much larger acreage than they have already drilled , they can obtain elements of a stability agreement and more favorable fiscal terms..not surprising no figures were mentioned initially but the fact that each case will be treated individually would suggest that negotiations are going on at the moment
Presumably at this stage of the agreement between Piedmont and Atlantic , Piedmont have paid over the $17 M which entitles them to 22.5 % of cclp ..if however they decide not to proceed given the targets were reached in the dfs as agreed between the 2 companies then they would be relieved of that ownership..having the dfs completed it must be close now to Piedmont making that decision ..I cannot believe that the Ghanaians would let this investment go because of the delay it would cause and the message to other potential investors ..time will tell..maybe an announcement next week after NH has met with Piedmont directors over the weekend in Ghana
No I don't think so per se , just a point I was making as the advent of lithium exploration is in its relatively early stages African countries need to have laws in place to protect lithium resource from unlawful mining which could involve unprocessed lithium being exported..but I am referring to illegal mining and not the likes of Atlantic
There are a few factors at play at the moment and I think the Ghanaians are trying to get the right balance..there are approx 1 million people employed within the artisanal gold mining industry with about another 5 million dependent ..obviously they would not want a similar situation within the lithium sector whereby artisanal miners are exporting unprocessed material..Zimbabwe have already imposed a ban with others probably to follow..however with so much at stake with Atlantic employing so many locals , improving infrastructure in the local community not to mention the huge financial benefits that they will reap through taxes and free carry I personally think it is inconceivable they will not get ML ..I do think the subject of exporting lithium is more to do with the unlicensed artisanal mining which is not only depriving the government of income but wrecking the enviroment through improper practices
The Ministry of Lands and Natural Resources of Ghana had to come out and make a statement to the fact that no mining licences for the exploitation / extraction of Lithium have been made by the government following several news articles to the contrary.
They finished by saying ..The Ministry of Lands and NR wishes to assure the general public that it remains committed to the efficient effective and sustainable exploitation and management of the natural resources of our country in the spirit of transparency anchored on integrity and utmost good faith for the benefit of Ghanaian people.
Things are clearly hotting up and the locals need appeasing understandably !!
I have been in many a company with a ceo happy to be very upbeat and positive in interview only for shareholders to be put over a barrel and smacked with bad news just 5 mins later..however I really do not think NH and AH chucked all that cash of their own in to give us an illusion of reassurance !
I have to say that I challenged a few people on here who derided others for selling ..it just goes to show no matter how good you think a particular companies prospects are it should never hurt to take a profit and ALL had done very well for many when it went into the sixties..I have seen it so many times before when a sp takes off and then fall back significantly for apparently no reason .
I agree with what you are saying Teddy and if you believe in the longer term bigger picture the rewards will be worth waiting for but as I may have said before the market does not generally like delays in what it has been told and although I think we have a good plan laid out I could not help feeling a bit disappointed with the DFS and the reaction it might get from the market ..personally I have bought more but I also understand why clearly some have sold..throw DGR selling into the mix if it is definitely them and we end up under a bit of sp pressure..for the moment I see the weakness as a good buying opportunity and hopefully the market starts to rerate us when the ML lands , any investment from MIIF and any possible deal on the remaining 50% spod