Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
So the price shows a significant drop in response to the RNS, but before that there was a sustained but unexplained downward trend in the price. Coincidence or what?
https://www.theguardian.com/news/2020/dec/08/the-curse-of-white-oil-electric-vehicles-dirty-secret-lithium
Not entirely pleasant reading, but this caught my eye.
“Lithium accounts for a small part of the battery’s cost, which means there is less incentive for manufacturers to find an alternative.”
Some more info here on the recent fall in price.
https://www.benzinga.com/news/20/09/17535420/gans-stock-continues-fall-after-being-left-out-of-barstool-app
https://www.fool.com/investing/2020/06/27/why-gan-could-be-the-shopify-of-online-gambling.aspx
"The gaming software maker, which debuted on the Nasdaq in early May, didn’t identify the source of the new business. But on a conference call with analysts, CEO Dermot Smurfit provided some clues.
For real money internet gambling, we’ve reached an agreement in principle with a Tier-1 client that is looking to deploy our game stack technology in new addressable states, such as Illinois, Tennessee, as well as Michigan and other states in which GAN offers considerable existing operating experience, such as New Jersey, Pennsylvania, and Indiana,” said Smurfit.
https://www.lse.co.uk/rns/BCN/notice-of-agm-x8wslt7ipjbeh5r.html
"As shareholders will not be able to attend this year's AGM the Company is proposing to allow shareholders the opportunity to raise any issues or concerns arising from the business proposed, to be conducted at the meeting. Appropriate questions should be emailed to info@bacanoralithium.com before 9 June 2020 and responses will be posted on the Company's website on the morning of the AGM."
My shares are in an ISA with HL. I am assume that I will continue with my holding but it will become non-ISA.
https://www.drivingelectric.com/news/678/electric-car-sales-uk-coronavirus-hits-overall-sales-electric-and-hybrid-numbers-and
A total of 11,694 pure-electric cars were registered in March 2020, which represents a 197% increase on March 2019's total of 3,932.
The Financial Conduct Authority (FCA) has asked firms to delay publishing their preliminary financial results to allow time for accurate reporting and reduce staff pressure as the coronavirus outbreak is changing the reality in which businesses operate. The watchdog said it ‘strongly requests’ listed companies ‘observe a moratorium’ on the publication of such statements for at least two weeks, adding that investors rely on ‘trustworthy information on the companies whose instruments they trade’.
Given this situation I can't see GAN listing in the US anytime soon. Best to play down the potential for a US listing soon so that when the delay is announced then it isn't unexpected and the share price won't dive further.
I wrote this a while back
"So if people in New Jersey stay at home more due to the virus situation and spend less money going out, would that cause them to gamble online more or less? Just saying."
Now I notice there was a favourable RNS on March 10 ........
" GAN Announces Favorable Italy Trading Update"
" Following imposition of certain measures on February 23, +13.9% more online bets have been processed year-on-year via GAN's technology Platform in Italy during the following fourteen (14) days. The Company has seen these trends continue into March."
So if people in New Jersey stay at home more due to the virus situation and spend less money going out, would that cause them to gamble online more or less? Just saying.
At present the market is marking everything down indiscriminately, but there will be winners and losers. Cruise companies are obvious losers. Some people who would have spent nights in the ship's casino will now stay at home with money burning a hole in their pocket. People who might have taken a mini break in Vegas will stay at home;- what will they spend the air fare on? You get the picture.
Talk in the Sunday papers of a crisis in company loans.
https://www.theguardian.com/business/2019/jan/12/subprime-timebomb-back-companies-lighting-the-fuse
Could be detrimental for the possibility of BCN funding.
"At what point would the company be obliged to put out an RNS that they can see no reason for the sudden price rise? "
Oops! I posted this and Addicknict replied and almost immediately after that the price went into decline.
Perhaps I jinxed some people, perhaps comments on message boards do have some effect!
Note to self. Keep negative views to yourself ... or least sell first.
At what point would the company be obliged to put out an RNS that they can see no reason for the sudden price rise; (assuming they know of no reason)?
I bought back in late on Thursday. Almost back to my original holding but I now also have some spare cash.
I am now thinking that the 50% of shares I held onto throughout will remain a long term hold but the shares I bought back are now available for trading as circumstances dictate.
Hoping for the best, when the full update on the Sonora project is reported later this month, but there is also the potential for bad news. There could be an indication that the finance issue is slowing down progress and pushing out the completion date. The company are obliged to give an honest assessment of their situation including their forward view of potential progress.
On the bright side, this share will soon be grabbing the attention of the penny share tipsters.
Perhaps, Warren Buffet bought some shares. I say this tongue in cheek, of course. But it raises an interesting issue. If someone like WB did buy in, then the company would immediately get the funding it needed and it would be a roaring success. WB must have trouble finding companies to invest in, so this would be a way in which he could leverage his reputation to get a great return on investment. Him or someone similar.
Myself, I intended to hold on to my shares for ever, but when the financing failed I sold half at around 70p. What spooked me was that the RNS at that time talked of the possibility that at some time the project might just 'tick over' to preserve money. If that does ever happen then there will be a further massive fall in price.
I still have the money from my share sale and am closely monitoring the situation whichever way it goes.
The BBC offers the following.
https://www.bbc.co.uk/news/world-latin-america-44691497
“He also tried to reassure the business sector, saying there would be no nationalisation, private business would be respected and taxes would not be raised.
On social policies, he promised to double pensions for the elderly as a first step to reducing the country's disparate income levels.”
I am cionfident that BCN is in no immediate danger of Government intervention, but given the second paragraph, I suspect that their tax burden may well turn out to be higher than previously anticipated.
For those who find the original post too cryptic, Citywire Newspaper Summaries tells us the following.
"Oman’s State General Reserve Fund wants to buy a chunk of Bacanora Minerals, an AIM-quoted company looking to raise £400 million in debt and shares to develop a Mexican lithium mine."
http://citywire.co.uk/money/sunday-papers-may-warns-brexit-bullies/a1133651?ref=citywire-money-paper-summaries-list