Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
My view is they should keep it if it brings in decent cash. I don’t subscribe to the Myles McTwatty view of flogging it off at a loss. My view is that it was a terrible decision in the first place and compounding that by making a second bad decision doesn’t help. It looked like combined they should bring in about £6m pa ebitda. With the expansion in to Germany that was touted - more BS Alan? - they could have a decent business on their hands for once.
Disagree. Wait until it’s profitable. Sack some of the unfortunate employees of the businesses that were taken over. Get that P&L looking healthy. At that point decide if it’s a useful ongoing cash generative asset or flog it at a premium. If it’s flogged now at a loss then I can’t see how Alan remains in post with south ridiculous levels of incompetence.
Oh Alan! My hero! What a guy! He's decimated the share price through his utter incompetence but look, he cares about me! My heart can't take it. Valentine's has been and gone Al.... Stop it you cutie pie xxx
What a twat. Fling yourself some more cheap options Al. Acting like he's done us a favour, he shouldn't have spunked cash against the Dx wall and shouldn't have gone anywhere near a raise at that level. I'll bet his chums in the high quality institutions will turn over these shares within the year. I maintain he could have ignored IIs and raised similar at double the price by treating LTHs with genuine respect. Time to go Alan.
I don't think it's new that Alan talks out of his backside. He's been doing it for years. It becomes white noise. The scientist that cried transformational. The investment is based on the science, which is more factual. The challenge is having the right strategy and that's where Alan becomes a danger. Assuming he goes nowhere, I hope Chris sorts things out and Simon adds some value for his whopper pay packet.
It wasn't a planned short. It was a planned placing that as always was leaked to the city scummers. That's the issue. When the price was about 120 and going sideways Alan could have declared his love for the LTH PIs and offered shares at a quid. He'd have raised more than from the investors he's gained which will no doubt just take their profits and run.
Offering up £6.8m having halved the value of the business isn't valuing your retail investors. Or your business for that matter. Ah well.
I also wondered that about employees gmcc, no doubt there'll have been plenty uncertainty initially and then they'll have gained some confidence and security from being part of a larger business... Then Alan rocks up and says he might flog them. I'm sure they're loving it.
I picked up on that too CJ, Rory, the one thing they clearly don’t know is that path. We’re not going to get anything definitive as it changes regularly. Alan promised he’d outline the path to commercialisation of AVA6k ages ago, it never materialised. The latest plans look fine. Get the PI cash, sell Dx at a decent price and we’re on the way. Oh, and sack Alan before he f**ks it up and we need the infamous 20p placing.
Crowfoot, yes there's new info but not RNS worthy as it's outlining the latest timelines/strategy (let's see what next week brings knowing headless chicken Alan).
Absolutely pd/thompi. Poor management and treatment of the LTHs. The wording around valuing retail didn't shine through in the actions taken. Suspect they could have raised an awful lot more via just a retail offering in the new tax year.
The investment case remains. Even more so for those arriving after the raise. It's a chunk of dilution, but not a massive amount and I agree that it was needed at some point, my issue is the terrible decision making that meant they've raised it at such a pathetic level. They could have given straight down the REX route, offered retail a lovely discount at a much higher level and raised the same without screwing existing holders. Never mind the root cause which was buying Dx businesses.
The article sums it up fairly. Once Dx is fattened up and flogged they'll have plenty runway to get them to market and at that point there's no stopping them.
Derek is a moron. Binned for that reason. To dispel the future cries for data, full phase 1 data won’t be presented until AACR 2025. It’s a long term investment measured in years, ignore Alan’s prattle about inflection points.
They might take the lot, which is what they should have done last time. No one has a clue, so go for whatever you’re comfortable/happy with and just see what you get. For me, sod all, as I recently ‘topped up’ at 70p.
The slides will be from the pack used to flog the placing. Shame Alan treats PIs like sh.t. He could have scheduled a business update outlining the expansion for other indications and the need for partners without leaking the placing. I think it’s the wrong strategy, as was the M&A nonsense, and Alan should go.
Exactly as I said in my 21:23 post last night, DTW. Whilst marvellous to see the potential grow as they’re going after numerous indications (with partners), it’s a jam tomorrow approach. I’d rather have seen AVA6k for STS get to market and then use those revenues to fund broadening later down the line. They’ve expedited Tx, but paid a price for it (well, I have).