Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Positives:
1. GCS and icreasece in productivity.
2. Finance sorted.
3. Profilits unhedged
4. JV pending.
I would be f*****d if this went tits up, I am over invested because I kept averaging down.
Just read the IOG debarcle, at least no one can accuse Art of making any misleading statements since he fell off his seat!😂🤣
When the original agreement was made they would have known the production figures and probably could have predicted SP collapse with the information they already had . Maybe we do not need the funding,🤣😂 and the JV has been agreed and we have been given a £100m by the partner as a golden hello. 😉
mr cowan like art are quiet. at least this means they are not spreading lies. we have been informed that art is now president of copla. why? this is not to satisfy the vond holders but to enable him to continue drawing is extortionate salary, why else have we only saved 500k from wages? art is still running the show and the **** show is set to continue. as soon asvi get my 19p if ever i am out..
I have just reread the RNS and a few things strike me.
1. Art is no longer a CEO or a director.
2. All directors giving up their salaries was only 0.5m when Art and Ryan alone are paid about a 1m. Has Art avoided giving up his salary by no longer being a director?
3. A jv will go ahead if the jv partner and COPL agree on the value of the assets - this does not suggest a take over to me intact it suggests wrangling on the value of the assets.
4. The company was a goinng concern as announced on the 1st Feb and will be a going oncern again in qtr 1 if a jv is not agreed.
Although the RNS is potentially good, - relating performance to issued shares and bonds, it is also so ambiguous that it negates any benefit to the sp and potentially could be the last throes of a dying company.
I have just rewatchwd his last interview. Using phrases like he is going to get more hands on, he has made the decision to use the RHA mill and the situation we find ourselves in is unbelievable. FFS George you are the CEO! Also his insights such as Canmax need SC6 and want to produce SC6 so our objectives are aligned are as discerning as a child.
I am afraid this is classic GR. I have many issues:
1. Strange how this RNS has registered on LSE but the promoting RNS was missing.
2. These shares have been sold to an investor and not on the open market, why wasn't GR's shared sold the same way.
3. He sells his shares a ounces it does a placing and so receives back more shares.
4. Shares are being issued like confetti, he will bot stop bow until he issues all the shares possible. We wrongly gave him the power to do this...
5. What makes us think that we will produce SC6, it's very concerning to read that SC6 will only be achieved once the weathered zone is removed. Why not do this before the plant was built?
@mr-Steve He hasn't loaned his shares to Prem he sold his shares on an open market and loaned the money from the shares. This means that if it goes tits up Prem will still owe GR the money, presently he has less shares and when Prem give the shares back it will be based on the sp at the time. So he has in effect excluded himself from any probable dilution and so if the sp was 0.21, he would get double the amount of shares back. This 1.7m which in the RNS he said would be 2m hasn't increased GR's stake in Prem at all.
So George has sold shares to cover his salary. Why not replqce the BOD's salaries with shares to minimise the amount he would have to raise? What in effect GR has done is reduce his skin in the game if it goes tits up, and if everything goes ro plan gets his shares back. Doing this when you know the circumstances , inside information is insider dealing. This 'loan' stinks..
I only have a nominal holding of 250k now because I sold out at 0.85p. I am a LTH and couldn't stand the idea of not owning Prem shares but longlivity had taught me not to trust GR. However the idea that a mill from RHA will save the day fills me with dread. This unfortunately has a very familiar feeling a failed mine because of 3rd party contractors alledgedly, built in the wrong place without a RUS which was going to transform the fortunes of Prem. Good luck all LTH, I sincerely hope that I am proved wrong, but GR-s performance today was like in the olden days " I would hope it will produce in October, no November no September and I expect it to produce in.."
He is now playing his old tricks ans the fact we so not know about thw grades is a serious red flag does anyone believe GR when he says he doesn't?.
Canmax have a new agreement with prem. This will have to be in an RNS either tomorrow or the day after. In the RNS it said that Prem would immediately call the loan as soon as this was announced, so its found to happen in the same RNS. It also said that the loan would be in one payment instead of the 2 payments originally proposed. Do we anticipate getting to production quicker than originally planned?
Is GR going to sell the shares on the open market or to private investors so that it doesn't affect the sp? Will we get a SC6 announcement before a Canmax announcement so that GR can get the best price for his shares and if so is this insider dealing? How can you sell shares knowing the immediate furniture prospects of the business? Anyway other people's further thoughts would be appreciated.
I have come to respect your opinion over the years Steward, so I hope you are right. I just have a feeling that GR is being economical with the truth. Why hasn't he called off his loan, what money are currently spending and what is the burn rate? Why do we have a meeting tomorrow at all? Why would Canmax vote to dilute if a deal had been done or not?
@Steward If a deal had been done, why have the meeting at all? Deal likelihood is already known, why not cancel if likely. The meeting tomorrow is going ahead because there is no deal and GR is hoping that by calling a special meeting and encouraging people to vote he can pass the additional votes without Canmax. I would go as far as saying if there is no RNS after hours tonight, then there will be dilution next week..