Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
With respect, SCE2, there is no "inability or unwillingness to produce" and there is no reason why shareholders should be kept informed of every detail of the several projects (such as how to deal with gas) which are indeed moving forward on different fronts simultaneously. The Bd has worked on pulling some blinders in recent months (such as more acreage and a gas plant) which no one takes account of when complaining about lack of progress. Nor are current industry delays in materials and labour taken into account.
Things are moving forward and it is only a matter of days and weeks before some results of the key elements are revealed. I, along with many others here, am very hopeful! Patience will be rewarded.
My buy trade for 200k shares this afternoon was at mid so it shows as unknown. Most of my trades over the last many months have been at or below mid so, as we all know, the indications here are pretty meaningless.
22m shares might not necessarily send us flying, being only a little over 1% of issued capital. But would not amassing that size trade be more visible in at least some of recent trades?
Someone commented today that they expect a TR1 to follow shortly. I disagree. Bear in mind that AIM notification is triggered at 3% (and each 1% above that). Due to the vast number of shares in issue, this requires 45m+ shares (15m approx = 1%). Given the relative illiquidity of this share and even at recent higher volumes, building that size stake would take some time and might become apparent in advance to many watchers here?
But good to see the sp moving and volumes increase. GLA
Stakebuilding:
Papa, you say "Question is on any potential II stakebuilding is when and IF an RNS notification is needed to show their % hand...". I suspect you will know that LSE/AIM notification is mandatory at 3% (and at every 1% above that) measured at beneficial ownership level. Given the vast number of shares in issue, this is triggered at a little over 45m shares. Given the relative illiquidity of this share, that stakebuilding would take some time and might become apparent to the watchers here?
Papa, I agree wholeheartedly with you and others who have previously commented on the need for IIs to get on board. Trades of 1-2m shares are relatively insignificant - after all, it needs 15m+ shares to reach a 1% stake and therefore 45m+ to become a disclosable holding. Most IIs will want to see meaningful results from the current drilling and testing to prove the value of the Paradox resource, then one might expect II activity. The market cap is almost GBP100m at today's price so that may yet be a bar for some IIs but that too is going in the right direction.
GLA
IG: Several posters here have claimed holdings of several million shares and the aggregate consideration involved is not that large, certainly not what most would consider institutional in size. Bigger players they may be but I suspect ZPHR still has too low a profile for institutions and first needs a few more of the boxes to be ticked (such as some of those being debated all the time here). A 1% stake is 15m shares, I think.
Just my thoughts but very interesting times perhaps not too far ahead!
Davey, what stake building? I do not follow MAFL every day but just looked back at the last week's trades here and it is odd 000s, nothing of significance and hardly even 'nibbles' in the grand scheme of things. At that rate it would take an age to get to 300,000+ shares which is itself only 1% of the issue!
IG: I agree to a degree but a little more latitude might be allowed him and by and large he is keeping the news flow going far more than most CEOs, IMHO. However, in this present context, has he said he will tell us when the September deal completes or is it just an expectation? I do feel too many column inches here are spent covering timing issues but (as an LTH and not a trader) I am perhaps more tolerant than others.
The constant quest here for updates, whilst understandable, may be a little over the top. A Board is not required to notify or detail everything which is happening, as its primary focus can be expected to be the running of the company. Its obligations to disclose (as opposed to voluntary disclosures) are governed by the AIM Rules, where pages 6 et seq are relevant:
https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf
The Rules tend to cover significant matters. In my view, the significance of entering into the September agreement had to be announced, as might perhaps be a significant delay in completion or if there was uncertainty due to major conditions precedent etc. It is unclear to me if they would need to announce completion of an unconditional contract, if that is what was signed recently. Every RNS issued takes up time and some cost and so keeping shareholders updated with great amounts of detail is entirely voluntary IMHO. Personally I am finding the RNSs, Proactive interviews and now a webinar plenty to keep me informed.
I have previously refrained from commenting on speculation over the BP connection and was about to make the same comment as Tim has just made. As I recall, the hedge was with BP Finance which is no doubt their distinct division entering into financial instruments with third parties. Not to say that the wider BP group might not become an interested acquirer sometime in the future - but, if so, one amongst many hopefully! GLA
Shaz, whilst often mentioned here, I do not think there is a hope in hell of a dividend while MAFL is in growth mode (looking for more acquisitions, both strategic and to the general investment portfolio) and given the potential risk of having to step in to bail out Ascendant. Although Ascendant has found funds to date and it has a steadily improving news story to peddle, it has a one project asset and is (as I recall) not well capitalised.
I do agree that the LTH are left frustrated and the recent deferral to next summer of the important report due this December extends the timeline so does not help. But things are marching along on most fronts. As ever, I reluctantly concede that patience and patience remain the watchwords.
GLA
Whistler, when an imminent 6p was mentioned last week the sp fell again! Are you tempting providence?!
IMHO, it will be a few weeks before there is enough substantive news to support the higher prices which are undoubtedly obtainable.
Nom, yes. I think one can assume that 15% discussions are going on but remember we have been going through the European holiday season the last 2 months so things inevitably slow down and its almost certainly not a quick process anyway!.
Chain: Just a caution (especially as there are some here taking a hard line on timelines!) - it may somewhere say that 10/30 days or whatever is working days rather than simple elapsed days and probably excluding the day of submission? You may have reckoned on that already but I would prefer to avoid yet more frustrated column inches being expressed here over not strictly observing timelines!
...Many other commodities are also USD denominated. Really the only sterling aspect of MAFL is its share quotation! Of course with such a massive discount to real NAV (whatever that may be) and MAFL's minimal profile, it is at the moment all pretty academic in having no impact on sp.
If he held 4.2% before, this should have been included as part of section 7 of the form or perhaps somewhere else. But nonetheless, it is encouraging to have some significant shareholders here as presumably they are longer-term shareholders and endorse the views many of us hold about the MAFL opportunity, even if it reduces liquidity a little more.