Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Yes, it may be boring to point out your lack of objectivity. Perhaps less boring to highlight your unethical attempts to talk down others' investments while having little or no stake in them yourself, after a bad experience with Parsons. Just move on and do this chat a big favour because everyone knows your agenda by now as you have exposed it ad nauseam, so who precisely is the boring one?
I am also impressed with Lyon. Not smooth-talking, not at all unctuous. On the contrary he seems prepared to say it like it is, rather than spew hyperbole.
I am happy that they are forging alliances. It's a small company and needs to be taken seriously, so this will help. Lyon says he has travelled, Covid rules nothwithstanding as this is a business trip, to Morocco. I am impressed by that level of commitment to the project.
First revenue won't come overnight, as he makes clear, but when it comes, I am sure the share price will reflect it.
Yes, I am also bored with this ping-pong between someone who is a genuine holder and someone who has by his own admission lost his shirt and appears very bitter about it. Make no mistake, the Parsons era left a lot of shareholders grossly out of pocket after the CEO heaped hype upon hype, engaging in an utterly disgusting and unethical campaign of self-enrichment. If Parsons is reading this, you, Sir, are an utter disgrace and should apologise to the people whose money was lost through this appalling campaign which you conducted at shareholders' expense. I was at the Shard, the Gherkin - neither of which come cheap - and I took the Thames cruise. But I stopped at flying out to Morocco - one step too far. Beware Cambridge-educated accountants, I declare quite seriously. Beware.
But what we have here is a different company under a realistic and sober executive chairman. As has been noted, we will not get, and neither would anyone expect, the kind of capital appreciation to mirror the losses suffered under the old regime. But there is progress and I'm happy to wait while the sp begins to anticipate revenues next year. These shares remain at a very silly price.
The noteholder agreement, as Lyon says, removes an obstacle to progress on the ground. The company can now concentrate on progressing the LNG project which, while not clean in environmental terms, is an intermediate technology, Lyon says. It is certainly cleaner than LPG and of, course , domestic LNG production, when it comes, obviates the need to import LPG from Algeria. In the national interest, Morocco should be backing Sound to the hilt.
In the market, the noteholder agreement did produce a spike and, in case you are in any doubt, spikes are always for selling into. This is a market and traders will have their way. Many bought into Sound in anticipation of this very agreement and quite naturally sold when it was announced. It was an opportunity to trade and it needed to be taken. Of course this has nothing whatsoever to do with Sound's fundamentals and it would be wrong to ascribe any fundamental rhyme or reason to the current pullback. Those who attempt to do so are being dishonest and should be ignored.
I hold here, and I didn't suffer the losses suffered by others, fortunately. Yes, I have an agenda, as any shareholder does. But equally, those who sold prior to this recovery in the share price are also agenda-driven. 'DYOR
Parsons and his fanboy are history, thank goodness. This is a different company now. Voting closes at 10am. Most will already have done so. Results Wednesday. If there is one big, dominant, holder, the quorum is down to them. They will, in my opinion, want to put this restructuring through without further delay.
Yes, soundreason, absolutely everything crossed. The voting deadline is tomorrow at 10am so any leak will no doubt be reflected in the sp. If the vote goes against, I can only think that they're holding out for even better terms but a deal will be done in the end, I'm certain. It's a matter of quantum, not one of substance. Or would they prefer a bond default??? Don't think so, unless they're complete masochists!
As it's a virtual meting and that no-one is allowed to turn up at the offices of Field Fisher, it cannot be so difficult to register a vote. Why are these people playing silly-b>>gers? This thing has gone on for long enough. In whose interest is it to spin it out anymore?
The offer of shares at just over 2 pence, the warrants at 2.75 pence and the extension of the maturity date on the bonds by 6 years makes this offer to noteholders a massive payday for them. They'd be mad to refuse. All they have to do is vote yes to the proposals and take instant paper profit on their new shares and sit back for six more years until raking in a profit on their 2.75 pence warrants. What's not to like? I cannot see why they would shoot themselves in the foot by voting no.
This game of poker has been going on since October. But bondholders are poker players. They're used to it. It's not the 5% coupon on the debt that's attractive... and it is not why they invested. It's all those bargain basement shares they're being given to stay on board that they really want. As usual, they are getting their 'pound of flesh'. In their shoes, I know which way I'd be voting.
Interactive Investor definitely NOT on the ball. Finally, these shares have been properly registered and can now be traded. But why did it take so long? Bunch of incompetents... and I've yet to receive an explanation, which they will probably dodge.
Yes, oil is a safe haven and so is the dollar, higher this morning. But people do silly things, and market makers take advantage. A good trading opportunity was presented first thing today but fundamentally we have had an over-reaction to Johnson's dithering. The sooner people take this virus emergency totally seriously the sooner we return to normal. Is cancelling Christmas such a big deal?????
I think MMs were looking for stops this afternoon. Shocking and swingeing reversal to shake people and an equally swingeing rise into the close, which shows what an appalling game these thieves play. But it is what they do.
It will be another feverish session tomorrow, I fear. So what has changed for this benighted share? For me, it is the fact that it has been rescued from the brink by the RTO. We will in due course have a share in a FTSE100 company - in which large investors will ipso facto be obliged to invest - after the situation became positively existential under the weight of a crushing debt burden. Durrant will leave, which is only right as his high risk tactics brought the company to its knees. What an idiot! We are now rightly undergoing a re-rate and I strongly believe this RTO was a godsend.