Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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.
flexmw,
I agree with your comments, I'll happily admit I see no value for shareholders of 88e in the take over of XCD.
Their leases are more stranded than our own and suboptimal at best. They will be pumped up as part of the same Nanushuk fairway that ConocoPhillips are drilling. However they are further south and further south means further away from anything commercial on the Slope.
I've given up on the actual activities (FA) announced by the company and have nice moved to protect my investment with a more focused (TA) strategy.
I'm not waiting another 5 years for Dave to show his hand, with his smoke and mirrors announcements.
E_AL,
Cool, so if no funding is in place then your posts are pointless and mean nothing. Regulatory permitting takes place all the time for the "just in case" scenario.
Keep posting, I'll keep shooting your stuff down. I'll be here all week/ 5 years+
E_AL,
I do apologise, did not realise when you posted "Hi Spinefx" and I responded, that your were posting to Archie_Chow.
After 2436 posts I'd have thought you'd have worked out this website.
So basically what you are saying is, you have no idea and are going the subtle ramp technique. Good to know.
Just be honest, you'll win more friends, especially if you're trying to push your argument/sell your holding.
dougiek,
Here's an idea for ya,
https://www.vice.com/en_us/article/5dm7mn/buy-tanker-during-coronavirus-oil-prices
topofoz,
Apologies, it was a tongue in cheek comment. There's just no ability on this website to express that. I just love the banter.
It wasn't a serious comment, just an attempt to elicit some chatter, was over an hour with no posts.
Dreamer67,
All the best with your investment. Be prepared for long periods of inactivity due to the seasonality of operations in Alaska.
One piece of advice, if you don't mind, refresh yourself with the company website and particularly the investors tab, you'll note the patterns of announcements around Investor Presentations, Drilling Operations and Capital Raisings.
If you can time it right you can make money, although plenty has been lost in this company you date.
Dreamer67,
I note that you are new to this board, have you recently become a shareholder? Or an old shareholder with a new nic?
Are you across what the company has/hasn't achieved in the last 5 years?
Are you aware of current company sentiment and that the share price is at historic lows and it looks like going lower?
What time period have you allowed to overcome any challenges you see the company facing?
What is the value of what the company have found? I only ask as the MC is down about 80%, has the market missed an opportunity?
Bits,
Good evening, yes I am still a shareholder.
I have a core holding purchased in 2015 around Icewine 1. It remains untouched. I keep looking term holds in this account.
In a second account which I use to trade some stocks. I had some 88e in this account which I sold last year to fund some other plays. I purchased some 88e at 2.1c thinking the CR would provide support, when it failed to I purchased some more at 1.6c.
There are some great posters on both boards that I follow for comment, when one of these expressed their concern after the first Charlie update and mentioned they had sold at 2.1c, I sold my trading parcel at 2.0c. Leaving me with some profit from that trade.
I still have my core holding.
Hope that has clarified my position to you as a shareholder.
E_AL,
Premiers debt issue is well documented and they were heavily in debt prior to the drilling off Charlie. This is not new. If Charlie held any value they could on sell their 60%, they walked away and handed out back for free.
Lease costs are miniscule in the scheme of things, if there is something to play for. Charlie is a dud.
Trade the trade. Zero oil or condensate or gas will be produced from this location.
To compare Shell to Premier is ridiculous, one has a MC 400X the other, they can probably pick and choose
There will be no buy out.
PMO effectively did buy out 60% of Area A for USD$23 mill.
Whatever they saw convinced them to walk away, not suspend, not land bank, just walk away and hand it back.
I ask readers, does that sound like a reasonable response from a company looking for an asset to potentially monetise? They could have sat on it for years and only paid their share of lease costs.
The only reasonable conclusion that can be drawn is that despite what Dave releases to PI's the area is not a commercial play and will never be a commercial play.
Bob,
Don't wish to be the bearer of bad news but there is currently a perfect storm of bad news in the oil industry.
Investment is being stripped out, oil price hitting 20 year lows, over supply, no demand.
Results may give a lift but it'll be hard to sustain any concerted push north.
IMO