Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
This little interaction reminds me of an incident I had a few years ago. In one of my many exchanges with Helpless, I made a serious accusation against AB and called for a forensic audit. Helpless said I’d overstepped the mark and suddenly AB appeared on the board, demanding I send his office my details, or he would get them from this website. I reminded them both that not only was I within my rights to state something I believed was the truth, but Helpless had recently made fun of my English, which was an arrest-able offence. I am a foreigner.
Suddenly my account got suspended and, once I got back on the whole exchange had disappeared from this discussion board. It would have been a big pain to go through, but sometimes I wish they had come after me, because
A. I am pretty sure any judge would have thought my suspicions of dirty play were justifiable given this companies history.
B. I can assure you, I would have pushed my case against Stephen Lundy had AB made a case against me and it would have been really funny watching a person who blindly follows a man that stood as a UKIP MP convince a jury he should not be convicted for teasing someone about their command of English.
Since investors were first duped with the El Limon fiasco about ten years ago, the shares have been diluted over 20 times. By the time this money finally comes they will probably be another 20 times diluted. Same goes for Congo money. This talk of it coming after the election is laughable. Do you think a country, among the lowest in the world for it's quality of life index and highest in corruption index, is going to put a shambles of a company run by an ex UKIP candidate at the top of it's priority list?
Unfortunately for many future investors, AB's ability to conn people out of their money will looks set to continue unabated, and the "Congo Windfall" will continue to be used to issue new shares to the unsuspecting to pay this companies directors inflated salaries. Like El Limon, it will still not be realized in ten years time and the only people getting rich will be Andrew Bell and Stephen Lundy (aka Helpful).
Now that I've sold, I only check this board occasionally , and always laugh at how Helpless desperately pushes things
In this thread he's resorting to pumping the Columbia gold assets. These come from the sale of the mill and mine to Soma (previously para resources), around 7 years ago, and for which RRR are still waiting to be paid. When the mine was sold, there were around one sixth the number of shares in issue as compared to today. On every fundraise the "Columbia gold" is used to demonstrate value. This money doesn't increase. It's the same amount that agreed when the sale went through. Whoever bought shares off the first fundraise after the sale would then have a sixth of the value today.
If things continue as they are, whoever buys today might only have one sixth of that when the money does finally come through. Reminds me of how, when there was no money available, Zimbabwe printed money and diluted it's assets to nothing. AB will be in good company when he visits there.
Back in 2013 an investor who questioned AB’s ability on investment boards was sued by Mr Bell and made to give a formal apology. Posting something on public boards is not illegal if you genuinely think it is true. I wonder what the ciurts would judge if it happened today .
https://www.internetlawcentre.co.uk/defamation-by-investors
The price is dropping because of the collapse in Zinc prices. This has had it’s first casualty, with an Irish mine being put on care and maintenance.
There was a ~$50million goodwill writedown on the latest annual report in relation to the effect lower metal prices will have on Sassa, so further balance sheet losses will be contained. At the same time lead prices are stable and copper is strong, so the continued drop is unjustified.
IG makes money with volatility. Whether that’s up or down. It’s stagnant markets we fear. This is anything but.
The price is going to remain heavily subdued while the 15.5 million shares are let back onto the market. Next month, they will hopefully be cleared, just in time for a quarterly update on a hugely volatile quarter. Buy now for £10-£12 a share in a month’s time.
Operating costs are up in line with the growth strategy. You can’t compare the revenues to last year, when Covid created millions of have a go investors. If you look at the analyst consensus, they were expecting earnings of 72p per share for the year. With these results and this weeks volatility, we could expect 95p to £1 +
https://www.iggroup.com/investors/analyst-consensus
Will be interesting to see what rubbish AB is going to waste this $4.5 million on
Kazakhstan has clearly shown itself to be under protection of Russia. If Russia invades Ukraine and a new cold war emerges with Nato, what happens to Western assets in the new “Soviet” countries?
Couldn’t agree more Hopingforbags
We won a court case after a similar situation in Columbia, but the defendants couldn’t pay us. Eventually we took shares in Para Resources in leu, which subsequently collapsed and were eventually given to another party because we didn’t have cash to pay them. Money we did get quickly disappeared into other failed projects. I don’t think this time it will be any different
Andrew Bell sold his shares a couple of months ago. Just before the Congo news broke. Just like he did just before the Iron Ore venture went sour. If this Congo business will be so good in the long term, why has he sold?
The balance sheet shows equity of £1.1 billion and the market cap is about 150 million. Even if we bleed £300 million over the next 2 years, if we then return to profit or even liquidate, the returns will be large.
That’s a lot of money RRR could get, but will the shareholders see a penny? The last of the family silver is busy being sold and expenses are high. And anyone who’s had anything to do with Andrew Bell over the last 10 years should know to take whatever he says with an extra large pinch of salt.
Perhaps while he's at it Mr Winnifroth could order a forensic audit? I have long had many suspicions about what's gone on here. I have sold and I doubt current shareholders would get anything back but I'd like to see justice served and think Andrew Bell should be a prison cell.
Coal is going through the roof. RRR raised over a million pounds for RRR coal. All the money went to paying AB his salary and into the debts of his worthless non-coal ventures. I'm not a supporter of the coal industry but if that money had gone where he claimed it was going, this company might be worth something.
Last time he sold, just before bad news hit, he claimed in was to buy his daughter a house and didn’t know the bad news was imminent. With debt repayments due and no ability to raise funds through a placement, I think he’s about the either sell JMS or the Iron Ore Royalties. Once this gets out the share price will tank. Will this be by coincidence just at the same time one of his offspring needs a new house?
Whatever you have lost on this share is gone, but if you are holding on because of the metals boom, there are still great investments with better run companies to be had.
About 9 months ago I decided to take my losses and sold my RRR shares at around 90p. I bought Central Asia Metals who also have a strong focus on copper and have to date made about 40% capital gain and another 10% in dividends. Their shares have recently fallen a bit because JP Morgan sold a whole bunch, and there’s an opportunity to buy.
In the last report I said that Kansas has been paid $500K. We had very little money left at the time, yet we’ve since managed to pay another $500k. There is very little left in this companies assets to lend against or sell, so I can only think the money came from the recently raised £1 million that was earmarked for drilling.
Helpful, do you know better?
Still no word on Kansai. I can only think he’s sold the JMS and POW shares not being used to secure the loans he’s taken on to pay this. Would he be allowed to praise money for drilling before settling?