Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Asi, so following your logic, AP should have informed the market re Takob that he was negotiating a deal rather than presenting a fait acompli ?
I’m actually surprised he didn’t, as it would have given opportunity for speculators, though in many ways I suppose he did releasing an update which apparently included consultancy revenue from Takob with Baita revenue, but without breaking down which was which
Asher, the ‘tool’ is posting facts, not making SP up/down speculation, nor saying whether an extension will/will not be signed
Obviously that must be confusing in your world - by the way, how are the unicorns doing???
Jediknight ‘Repayment is due on Wednesday’
- do you have different calendar to me?
From last years RNS
20% interest per annum with ability to repay early at month nine. Interest & principal to be repaid as a Bullet payment at the end of the term on Monday 15 May 2023.
The following security has been granted by the Company in order to facilitate the Transaction:
· Alpha has been granted first lien security over a real estate asset in Bucharest, Romania, in order to provide an enhanced security. Alpha is predominately a real estate driven lender and as this transaction is its first mining transaction, the real estate security component was key. The real estate asset has an independent valuation of €9,199,769.
· An existing shareholder of Vast Resources PLC, who is not a Related party under the AIM Rules, has been granted a first ranking security over Baita Plai in return for allowing the real estate asset owned by him being used as enhanced collateral for the funding to be provided to Vast by Alpha. Alpha has been granted a second ranking security over Baita Plai.
As part of the debt transaction and in lieu of the enhanced security being offered the Company has issued Warrants to both the real estate owner and A&T Investments SARL. The amount issued is $800,000 based on the prior agreement of giving warrants equal to 20% of the debt facility ($4,000,000). The strike price will be set at a 20% premium to the closing share price on Monday 16 May 2022 as referenced by Bloomberg.
- Mercuria also need repaying(or refinancing) before the end of Monday 15th
So until we are told that extensions / renegotiations have been actually signed, VAST are in default of their debt obligations and their primary asset technically belongs to someone else
Can we have a whip round to book AP on a critical time management course?
Hi Terry,
Have you got a breakdown of how many warrants or options and at what price?
Much appreciated
Passition, I’ve seen you mention the below before- do have a link or something to back it up “BOD in the past BP at nameplate worth $200m ”
Then you have “Zimbabwe in full operation with BP, a half a billion company ”
So you have a link or similar to what terms VAST will enter Zimb (% of license ), the size of resource and the cost of funding to bring that online??
Or is that finger in the air type posting?
Oysterman, the collateral held by Alpha is over a hotel in Romania - value around $9.5 M, or roughly double the amount need to be repaid
The owner of that hotel, then owns the security over Baita
In theory that’s a very tidy profit.
However, our Romanian correspondent has previously pointed out, might not be worth the legal hurdles that would need to be jumped
So, do they go for 100% return on their investment but have a legal fight, or screw VAST over on terms for an extension - they won’t offer charity
Gibberish, mercuria have already shown incredible patience, extending terms with Vast 3 or 4 times already - as long as they are making a profit out of the deal with VAST and their risk profile hadn’t gone up, they will extend
The much bigger problem is with Alpha who hold the security over the collateral offered with holds Baita - if they agree to extend, you can expect the pips to squeezed hard in return
Oneknows, they knew the deadline was today
The RNS should have said an extension has been signed on these terms…..,
AP hasn’t managed that yet has he?
If your one the lenders, it like a being a cat playing with a hamster