Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Yrabs, I think you've been hacked. There was a positive post from your account a few minutes ago lol ;-)
Iran wasn't unsigned and it wasn't Iran that decided not to proceed, so not really a sensible comparison. We clearly have boots on the ground, just need ratification sooner than later to ensure revenues start to flow on time and ensure the coffers are topped back up.
Yes and they were confident of getting to 26p
It was a bit more than someone falling off his bike. Motorcyclist decided to cross the runway in front of a landing Dash 8 with 23 people of board. Like many of us shareholders, the cyclist didn't get his timing right and was lucky to get away with non-life threatening injuries. On the plus side, it does highlight how poor security is there and that they need our services. It could easily have been a larger aircraft and with a potentially disastrous outcome, particularly if it had been a more sinister action than someone taking a shortcut across the runway.
Oh dear Vander, still struggling with the facts are we?
RNS dated 16 May 2016.
“Under the draft terms of the contract WASS would generate revenues in excess of £30m per annum”
I’ll even give you the link for it as you seem to be struggling.
https://www.lse.co.uk/rns/WSG/middle-east-contract-letter-of-intent-kad51pq7ttudydg.html
Absolutely correct Aiming. Funny how someone complaining about the accuracy of statements is so inaccurate with his own.
Factually incorrect as usual Vander. Iran was first announced on 26 May 2016, not Dec 2016, when they announced that a letter of intent had been received. I’m quite sure that had been negotiated for some time before that, so as usual you are talking cobblers.
Isn't bordering on criminality just another way of saying there was actually nothing criminal about them?
On the flip side you might give credit for the CEO of a £16m mkt cap securing a £500m 20 year contract whilst also keeping the company treading water during a pandemic during which the largest revenue stream (SL) was switched off for 6 months. He also negotiated a similarly superb deal in Iran that would have happened were it not for Trump. I suspect we will see similar sized deals in KSA as he has set up a JV where the other party is headed up by a senior royal. I’m not saying he has never made a mistake, but I think he deserves some credit.
Yrabs, I think there is a huge difference between the two
1. Ferries were not our usual line of business/ knowledge.
2. We were setting up a new business in competition with existing suppliers
Here we know what the pre COVID and current PAX levels are. The Company knows the fee per PAX so it’s really not hard to come up with a sensible forecast. There is no competition. If you fly from one of those 5 airports in the next 20 years, you use WSG services. It’s as simple as that.
Yrabs, I think what you need to remember is that the DRC government have been heavily involved in setting up this contract, so it is in effect ratifying its own decision as I see it. I’m struggling to think of a sensible reason why they would spend at least 18 months negotiating a 20 - 25 year contract to change their minds a couple of weeks later.
Let’s not lose sight of the fact that there is a contract that has been signed by both parties and now just needs ratifying by the government, a standard process apparently.
Ian - I agree I think the market is waiting for ratification. Like AIMing I'm not worried about it. It's like Tema they are getting on with it whilst waiting for the formalities unlike Iran and the Dec '18 African contract (which I think is still a possibility -eventually!) where they didn't do anything post signing.
I think in many ways it would be better to get these new MSCs up and running before another MSC lands unless they can fund it without a share issue. The new banking facilities may certainly help with that particularly if it helps arrange UK export finance facilities. I suspect AIMing is right about KSA being 2022, but BF seems to be moving at pace so that could potentially arrive later this year.
Dodger , DRC has a superb NPV. Multiples of the current Mkt Cap. I think anyone getting in around these levels is going to do very well.
“Based on disclosure by the company and the typical capex and margin structure of these contracts, we believe the DRC contract is conservatively likely worth at least $70m in discounted lifetime value to equity and that is before considering the potential to add cargo screening services on to the deal”
Yes but my point is that a lot of those set up costs will be capitalised and amortised over the life of the asset/project, not expensed immediately.
McDoule - think you have "DRC and Liberia - revenues from these two to fund expenses, so do not expect much profit initially, but less likely to see additional funding to support these two contracts." wrong.
He was taking about capex which will be depreciated over the life of the assets. Arden is forecasting around £5.2m net income next year.
Pre-covid DRC embarking passengers were 1.1m pa. 20 year contract with no break clause and an option to extend 5 years. Contract worth circa $500m over its life. The market has way under-estimated the value of this deal.
Not shares from the placing either, all open market purchases.
Yes we do
Mike that was a 3m+ buy on Friday at 6.2 wasn’t it, not a sell.
Allocations were also significantly scaled back.