Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I'm not getting involved in a he said she said argument on NUOG..Because I cant argue with you tbh..When I originally invested here I was concerned with the history ie enegi but after doing lots of research I believed in the concept that NUOG was trying to achieve..However eventually I lost faith in the board and sold 85% at a loss prior to xmas..
So in answering this question I don't need to hear about,mou's,failure of getting deals across the line,poor comms,dillution placings,poster credibility etc etc because we all pretty much know that..
The question is,if you have no holding whatsoever why are you spending your time,continually trying to trash this????,i don't believe its because your short because at these levels that's a tad risky even with NUOG's performance..I don't begrudge you your "I told you so moment" but that's sort of past now so what are you trying to achieve??
Sharelock actually yes that's correct..Thank god they put that in then..lol
But this has held up better than I expected today..It's tax loss week were investors are looking to offload there worst performers to offset capital gains before rebuying for the new financial year,and lets face it this has a bad year so expected this to get pressure today like some others are doing..
Just out of interest on the open offer..Surely the price cant be that attractive else those who have just taken the placing price at .30 arnt going to be that happy..
Now that the open offer has been advised as incoming as per the last rns,will anybody purchasing stock today still be entitltled to participate in the open offer when its announced???? I was asked this last night by a friend on twitter..I assume that because it hasn't been formally announced the answer would be yes but just thought I would check with you on here but don't want to give him duff info...
I've had many conversations with Seadog on social media around NUOG and his research was fundamentally sound based on the information and discussions he had with various people of the company..However as with every stock there are areas which nobody knows for sure and people have to make there own mind up on how they think things will go..Even when LT was a insider, the company probably only told him what they wanted to and other parts were neglected to be mentioned..
If you looked at the last accounts and worked out the cash burn I originally had them potentially raising in January/February and once I decided on the balance of probabilities that cash would have to be raised prior to a deal being announced.Thats when I personally decided to sell...Like I've said there isn't a non producing oil explorer out there who have raised recently in these markets who haven't had to lift there skirts to get it away...So NUOG have done well to last this long...
However at the end of the day there isn't anybody on these boards who I would blindly follow based on what they say on here..All you can do is trust your research and go on what the company tell you,if that turns out to be misleading then theres only so much you can do...
Sharelock you are easily persuaded but I admire your faith..Frankly after been in NUOG for a number of years if NUOG's board told me it was Monday right now I would believe it was Tuesday..
RNS statements like that are easily issued to suit the outcome they actually managed to achieve,but I wish I had your belief because I've spent god knows how many research hours and a lot of money on this company and would like to get back involved at some level..But one of the golden rules is that if you don't trust the board avoid investing,but I hope they can restore my faith in the next few months so I can get back involved..
The problem I am wrestling with most is the level of the raise,if they did it at that level because they anticipated that was the working capitol they needed to get to the point were they could announce a deal and get the shareprice moving before any future funding, I could almost understand it.Lets be honest, all of us knew that the cash was running out fast as per the accounts and cash burn...
However you cant rule out the possibility that was all they could actually raise even at that level as there track record is simply abysmal and there cant be much appetitie in the city to fund this shower on there performance so far..If that is the case they are just clutching at there salary straws before the inevitable...
I really had a lot of faith in the business model and still think it has great possibility's and I've a decent pot of cash waiting to reinvest in something that takes my fancy after selling this before xmas.(wise call even with a big loss) However without having any confidence in the people of Nuog or knowing which of the above scenarios is the case I simply cant bring myself to get back involved..
I take no pleasure in it Share tag..There was a time when I thought this had real potential and I really had to convince mysely to take the loss when I did but I have some golden rules that have to outweigh sentiment and Nuog broke pretty much all of them...
I haven't posted in a while as though I'm still a holder,i had reduced it massively six months ago from one of my biggest holdings to one of my smallest..Whilst I fully appreciated Seadogs and Last throws research and spoke regulary on social media with seadog there were to many red flags..Firstly appointing Novrum a terrible outfit with a large history of leaving holders of there companies worse off with shocking deals..I also lost trust in the board who have promised much but have still to deliver anything despite offering more carrots than bugs bunny ..Finally Simon our so call communications manager who couldn't communicate a dog to bark...
I'm not shocked at the placing price.Firstly none producing oil explorers are not attractive and haven't been for a while,you don't have to look far at any of them to see when fundraising, they are having to offer the world in discounts to get placings away, and a outfit with the track record of Enegi/Nuog is especially mistrusted when it comes to getting returns on these placings...And if I'm honest I don't think they could have raised much more without offering even bigger discount...
Question is were do we go from here?? For me it's now or never..Time is running out because I don't think they have a hope in hell in raising much more without giving something concrete temp anybody in the city..Mou's wont cut it...I still believe in the business model it's sound but I have no faith that this board or the ones before are actually working for shareholder value...At this price I should be buying as I can 3 shares extra for every one I've sold but when you don't trust the people running the company you have to stay away from the buy button...So disappointing...
My post has been reported and removed apparently...And that tell's you all you need to know about what they want to see on here..
Sounds like your Puntland average is even worse than mine mate..lol Still we live in hope,personally and it's just my opinion i cant see this rising very much if at all and at some point they will have to raise cash which with oil exploration currently friendless will mean a discount,so not sure this is the bottom just yet..But i agree if your happy to wait then it will make you money from here...Just not for a while..
They will no doubt be negotiating the cost of 3d seismic with rmp and relevant party's as we speak...
Is that aimed at me Mannan,if so I've been invested here since Puntland drill many years ago..
Reg everybody is entitled to there opinion but it annoys me when people try to manipulate others,with respect to them they either don't know what they are talking about or are just trying to ramp to make a quick buck at others expence..
Fact is another drill will cost minimum off $6 million plus the costs evaluationg winx and further 3d seismic..Even if they do drill again if data supports it,that will be a minimum of 12 months away so there's the cashburn to add as well during that time...Those are the facts of the matter whether we like it or not and its best that everybody realises that..It is what it is and I'm sure there will opportunities down the line here but right now sadly it's going to take a decent period of time...
Deltalo..I'm sorry but that's just not true..There isn't anywhere near enough cash for future projects,there is enough cash for working capital only..Any future projects will require fresh financial input...
Not a bad rns by any means and about what I was expecting.At least we all know were we are now..At least that puts to bed the clowns who were trying to artificially lift the price with there sidetrack ramps etc etc...
I wouldn't buy today though,realistically this will go back into hibernation for quite a while, so there will be dips and troughs but I cant agree with Mannan that this will go much higher short term because people will move on,traders need shares with short term potential and this hasn't got any..
If your prepared to buy and then forget for a year or so then this will make you money, but whilst they are fine financially people must remember that's just for working capital..If they are going to get involved with a deal by the time they negotiate terms there wont be much left and a big raise will have to happen..It cant not happen...
So for me,they are back in the bottom draw for the third time in 10 years..See you all next time..lol
well let's hope your summary is right.. I don't think you are by a long way.. You are basing that on best case marketcap,sadly the market doesn't work like that I can't see this getting anywhere near your valuation.. Sentiment is everything and without news anything near a penny is wishfully thinking and I can't see any updates of note for 2 months at least and then your looking at 40% dillution to fund.. I really can't make a case to buy right now but time will tell
I've held this since Puntland sat around 17p so you can imagine how my £5k at 17p is looking now.. It isnt worth the dealing cost of selling but I wouldn't buy this right now..
Regardless of any news the company release right now, they won't be able to do anything without raising funds.. Right now oil exploration companies depending on there track record are having to offer 25% to 50% discount to sp to attract funding..So you can imagine which side of the percentage we will sit...
The only people buying this right now are short term traders and I can't even understand that TBH.. just because it's lost 90% doesn't make it a bargain.. Dillution and lots of it has to happen, Just like it has followed every other drill failure RMP has had.. now I know that's not what people want to hear and I'm gutted that loads are now joining me in the bottomdraw boat but anybody buying this right now for a long term investment is crackers IMO..
Once again it's very easy to say a bit of positive news but as of yet nobody is prepared to even guess at what that can be???
Anybody who knows the slightest bit about drilling for oil knows the positive news cant be about Winx because data takes weeks if not months to analyse..Thats fact and you are being unrealistic..As you are about Brandy deciding to buy right now..If he did decide to buy he would wait until the data was analysed and if there was a possibility of going again he would have to do a big discounted raise..Thats when he would buy..if at all