Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I am only going off memory, but I have followed this closely for a long time. I think Corica brought in the extra excavator at Yanfolila to support the underperforming mining contractor. Whether that additional excavator is still there or not, I don't know. Doesn't change the fact that there is clearly existential risk now.
Imagine how one feels after nearly 10 years...
Insane isn't it. Hopefully, Ernie can still throw a good right on our behalf.
I've also not found it too hard to sell my holding, which was only 500,000, as sold most a while back. In the past it's been really difficult due to low liquidity. Someone is clearly buying a lot of shares, which makes me suspicious. Anyway, I am all out again. Time to move on with our lives.
I agree January, or they have it but think it's cheaper to weather the downtime whilst appointing a new contractor. I am selling my remaining. It's just gambling at this point. Good luck to all holders. You really deserve to make some multiples with the stress this share provides.
Nothing has been announced, it was speculation. I would personally back it if the alternative was bankruptcy, or more uncertainty. Corica are the professional outfit in the area and it says a lot that this is their first dispute. I really cannot fathom what Dan is thinking. My conclusion is that this is a scam or he is utterly inept. I don't rule out both.
Thanks for this. As expected really. I think they just need to suck it up and pay it, even if additional $ needs to be raised.
I think that is very sensible Publican and the best of luck to you. I've done similar and lost closer to 80k on this. I hope that makes you feel better.
Clearly, someone is taking them. It wouldn't surprise me if there was an imminent RNS saying all is resolved. Equally, it wouldn't surprise me if they said new raise, or CIG are taking the company private at 1p. Still holding long with the rest, so fingers crossed Dan can actually do something constructive and get this sorted.
I just sold 256,000. Need to take some risk off the table here.
If you look on the Corica Website it mentions Kouroussa, but not Yanfolila. I know the contractors were changed several times at Yanfolila, but I can't see an RNS which states it is Corica.
Are you sure? Where is that stated?
It's a 5 hour drive from Yanfolila to Kouroussa. I wonder if they could temporarily transport some of the equipment and operators over.
I've been thinking about outcomes here. Let's assume the worst and Corica don't return. Clearly, Coris leniency will be required to keep things going until a new contractor is in place. I think CIG would have appointed someone to the board if they really wanted to take over the company. I do wonder who is funding CIG though. It's portrayed as an investment arm of the bank, but who really knows!
Well, at least the deadline is tomorrow. It seems hard to envisage it being sorted out in a day, when these issues have clearly been brewing for some time. I guess the question then becomes, how quickly can they mobilise another contractor to site? There is another contactor operating on site, so hopefully if HUM are playing hard ball with Corica, they know there are other options. One can but hope. I won't be selling at this price. The original projection was for Kouroussa to do upto 140,000 ounces in the first year. If they are one blast from the fresh rock are a higher grade, then even with one operating set, they should be getting some gold. Any thoughts on who the other contractor on site might be? It would be good to see their size and potential for spare capacity.
It's been 84 years. I've never told anyone this, but once upon a time there was a man called Dan Betts. He built a mine called Kouroussa and we were promised commercial production. Still the less said about yer at the better.
They were always expecting it to take 6 months. With the mining and fuel delays, it wouldn't be that surprising if it dragged out into Q2. Hopefully, they are at least mining higher grade that Q4. They have stated that production is weighted to H2. So, I expect the Q1 numbers will be pretty bad. Guesses on a postcard. My guess is 16k from Yanfolila at an Aisc of $1700 and 10k from Kouroussa at $2200 (not that they will give us those figures). As long as they get to commercial production soon and don't need to raise any more money!!
Mr. Daniel Edward Betts Co-Founder, CEO, MD & Interim Executive Chairman 445.28k N/A 1975
Mr. Thomas Rowland Hill Finance Director & Executive Director 299.2k N/A 1976
I think this is outdated, but gives you an idea.
I've been waiting for this to materialise longer than my children. Can we just get it done, so I can show my mates a picture of it down the pub. Come on Dan. Show us the RNS!
Good luck to you too and have a nice weekend away from the markets.