Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Not at all sure what to make of this.
The new shares are due to be admitted quickly, on or around the 27th, next Tuesday.
The effect is to reduce the weight of existing holders' votes.
Presumably, the Trustees will vote their 10% in favour of management's resolutions.
Page 55 of the last set of published annual accounts:
The Directors have determined that the net present value of the Horse Hill development to be £11.4 million, which takes into account drilling of additional wells in the field, and supports the value of intangible assets of Horse Hill.
Ripley94,
The current situation is fragile and fraught.
Personally, think it is best to wait for clarification concerning the adjourned GM.
PS: at 11am, we should receive the latest schedule from the Supreme court re upcoming judgements.
... Trafigura has demonstrated a strong commitment to its new relationship with Angus and we intend to work together to evaluate the potential for gas storage at the Saltfleetby site and OTHER POTENTIAL PROJECTS in the future. "
Well done, RH and all the team at Angus!
· With the refinancing in place and the strengthened balance sheet, Angus is entering its growth phase to acquire additional production and develop storage opportunities ...
"... We are very pleased to have closed the new facility with Trafigura and now have a new level of financial stability which allows us to plan for the future and to maximise the value of our assets for the benefit of all our shareholders. With current high oil prices, we are excited to be restarting production from the Brockham Field in the coming months, and we are hopeful that we will be able to proceed with the long-term test on the Balcombe well this year. Trafigura has demonstrated a strong commitment to its new relationship with Angus and we intend to work together to evaluate the potential for gas storage at the Saltfleetby site and other potential projects in the future. "
The new debt facility has been drawn down, providing them with approx £5.9m after payment of existing debt.
Richard Herbert states: "... With current high oil prices, we are excited to be restarting production from the Brockham Field in the coming months, and we are hopeful that we will be able to proceed with the long-term test on the Balcombe well this year ..."