Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Mainmane, you really ought to read the RNS that was issued by PHE on 6th October. In that RNS they reported the situation with MDK and also stated: "In the meantime, the Company has lodged a claim for the first payment of £193,000 which was made to MDKL. In addition, PHE has also added a claim for liquidated damages and registered interest in the purchase of the already completed equipment. The Company is in possession of the alloy that was bought by its wholly owned subsidiary Plastics to Hydrogen Number 1 Ltd, for the first commercial scale of the TCC. This had previously been stored at MDKL in Carlisle but was moved earlier this year."
Surely that's clear enough. It's hardly the total disaster that's being peddled here. As the TCC at MDK has been partly built and nearing completion, it would seem fairly reasonable that PHE will be able to come to an arrangement with the liquidator to pay a balance to the liquidator and take the partially completed TC away to be completed elsewhere.
By the way, the alloy that they mention that was previously stored at Carlisle by MDK was intended for the Protos project, not this one.
I think it's got to be some kind of movement or transfer between market makers. If it was a genuine buy or sell it would have moved the SP considerably.
Mallen: My understanding of the questions you ask: I believe that the photo in the newsletter is showing the TCC that was being manufactured by MDKL. It's certainly not the demonstrator at Thornton Park which looks more like something one might knock up in ones shed! And I can't think of any reason why they would show a photo of any other TCC.
Secondly, I'm assuming that the special alloy that was purchased for the Protos DMG and which is now in PHE's possession is still intact in it's entirety and that part of it was not used for the demonstrator being manufactured by MDKL. I have no evidence for this it is just an assumption based on the way that it's written in the RNS.
I always feel it's best t read the RNSs carefully:
"The Company is in possession of the alloy that was bought by its wholly owned subsidiary Plastics to Hydrogen Number 1 Ltd, for the first commercial scale of the TCC. This had previously been stored at MDKL in Carlisle but was moved earlier this year."
Here they are referring to the alloy that was bought for the full-size commercial DMG at Protos (the FOAK) which had been stored by MDKL at Carlisle but has now been moved and is in PHE's possession (the "Company").
I accept that the market has a long memory but surely investors must see that IES is a different animal now. The have just received funding form the DOE and they have received orders and made deliveries. This is nothing like the old REDT days! But it seems that investors want profits now, not in 12 or 24 months, and they also get very nervous about requirement for future funding and scared of potential dilution.
How can the SP go down after a presentation like yesterday's?