Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Kelladee,
If my post implied, "this Share is not worth the worry" that was not my intent.
I am still a shareholder, on the theory that this share can be traded for profit, if timed correctly.
It has taken me 5 years to work that out. Oil exploration is a tough business and even tougher in Alaska than I initially thought.
I don't believe commercial oil will be produced by 88e but it doesn't need to be. I traded for profit in the lead up to Charlie and will do so again, should the opportunity arise.
Regardless of oil or not this share can be worth the worry.
At the moment the HRZ holds zero commercial oil.
It was thought commercial at Icewine, turns out not so much. Charlie at this stage is unknown but the further from the Dalton you go the higher the cost of production. Which translates as harder to commercialise/monetise.
It is however a moot point as 88e has no production, commercial or otherwise and is unlikely to see any for years, even as a minority partner.
This company is not about oil production it's about identifying the operating activities and using them as trading opportunities.
Brom,
I can all but guarantee that the SH is not meeting is share but it's rare that the NH crew are this quite.
Normally can't shut you guys up ;-)
Anyway, good to see Messrs Brombard and LeMajor providing some good content, as expected.
chrisev1
Yes, however we do not know what level of cuts to Board and management salaries, specifically.
We do know that cost savings have also been achieved with the lease rental costs, this may be the bulk of the $750k of prudent cost cutting measures.
The next quarterly may reveal
Brom,
superseded on the 20/4/20 with,
"The Torok, Seabee and HRZ all remain prospective targets at Project Icewine, albeit not without risk,"
Risk...... without risk.........risk....ummmmm without risk. That's speak for "look over there" in the meantime.
Remember the last time that Icewine results came back with the beakers of oil l(albeit leached under pressure with toluene) and the share price boosted, 2 years later, bitumen.
Believe not what we are told
keefy,
Forget everything we were told about Icewine, it is not on the sweet spot. It is bitumen. De-risked? Well I suppose it proves that no more drilling should be done there, at Franklin Bluffs.
Dave negotiated the deal with PMO as part of the Farm-out to drill/acquire core from the HRZ, as part of a "proof of theory". Do you not think it strange that no mention has been made of the much vaunted Vapour Phase at Charlie?
One would assume with such a large prize on offer that if the mysterious Vapour Phase was detected in the pipe, DW would be promoting the news............. Silence. What until results from the lab are forthcoming, we are told.
My thoughts, we missed it by that much.
keefy
Yes, shelved. As in no more, gone, moved on.
The HRZ was an opportunity to move the company away from Tangiers and PB provided the avenue. DW has actively been acquiring conventional assets ever since.
No one on the North Slope is doing unconventional, why?
Keefy01,
There could also be the thought that DW is trying to stabilise the share price due to the XCD takeover.
If the HRZ results were "the goods" we would more than likely not require XCD but to release poor results would see the share price hammered and an even greater level of dilution to progress the XCD deal.
We'll find out in time. Although I believe the HRZ will be shelved.
Brom,
I fail to see how it could not have an impact.
The extra shares on issue, will be traded out by XCD holders and why not, money for nothing.
Dilution and stagnation are to 2 killers of any exploration company, coupled with end of financial year (Oz) operational uncertainty, there may be some tough decisions.
Guzz,
Good to hear all are safe and well.
I expect Dave will release some prelim results as an attempt to pump the story and there may be some gains to be made. However, the end of financial year in Aussie is 30th June and typically that sees a lot of shareholders trade out of loss holdings to claim the tax offset.
I have a feeling this year will see some increased activity around this pivot point and the share price may see some downward pressure. It's currently at historic lows, will they be broken?
Dave will try and sell a story to maintain some positivity, especially around the XCD merger story and how good the asset is and the potential based on the current market lows.
Make no mistake though, money can/will be made here. I think it's possible based on the price having tested 0.005c a number of times that 0.003-0.004 is possible. Especially during the Northern Summer and a period of operational inactivity.
Buying at those levels should provide a great return by year end, as by then plans will/should be in place for any activities next year.
30%+ I reckon.
Guzz,
Hope you are well.
You've been around these traps for a long time, have you been taking the trading opportunities? You are well across Dave's pattern that's all.
I understand you may not wish to inform, in which case, all good.
LeMajor,
I appreciate and enjoy your posts, is it not a bit of a leap to go from we have no details of the contract to "I would not be surprised to learn that they may have had no option to sell it on"
Working interests are constantly being transferred on the Slope between parties.
We also apparently negotiating with the state regards Winx lease costs, why would PMO not do the same with Charlie?
Sometimes we need to look at what Dave is saying and interpret the opposite.
LeMajor,
Any thoughts to having PMO seen the early logging, of all the zones, they walked away from their 60% WI. No attempt to on sell their 60% of future commerciality.
They spent ~USD$23 mill and walked away as they saw no chance of return on their paultry investment in the future, with the potential the leases held.
Nick,
If you genuinely believed that, "it will take years to recover and by then we will be bust" then your only option would be to take the hit now and sell.
If you haven't sold you either believe you will gain something or you have no interest in preserving any of your investment, which is it?
If you want to throw your money away on a supposedly dud company why don't you sell and donate the money to one of the NHS Charities, I'm sure they would welcome it.