Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I missed one thing off on my summary. The other point to note about today is that, annoyingly, Myo does still insist on interrupting this very serious, informed debate with trivialities about digging a hole and tunnels. Quite why anyone would be interested in that, I'm really not at all sure.
Myo - are you sure you have the right Board.... :)
jonesrichard, there is only one thing to say to that...….
LovelyJubbly
For anyone who has missed this board today, where have you been ?!?
I will summarise the consensus opinion amongst the group to save you wading through 527 posts.
The share price dip happened at 12:05.
The dip was caused by a bewildering variety of factors including: 1) the Iranian strike on Saudi oil assets; 2) a "bots" strike on the share price; 3) tree shaking; 4) Market Makers looking to make money on trades by inducing panic selling; 5) domino effect of Stop Losses; 6) a North American potash producer mothballing some potash mines; 7) a BBC rolling news site re-posting a month-old report of the bonds being pulled; 8) Trump; 9) China; 10) the Federal Reserve; 11) an RNS coming tomorrow; 12) no RNS to end September; 13) some insiders knowing everything; 14) nobody knowing anything; 13) Bob, my best friend's cat letting it be known he fancies the neighbour's dog.
As you can see, a perfect storm. Frankly we should count ourselves lucky we are only 10% down.
Indeed, some do. Jonesrichard sees this 10% drop as certain salvation and means that, as Delboy would have said, "this time next year we'll be millionaires" - as he would also have said, "you pI0nker".
As a consequence of all this the trajectory of the share price is absolutely clear - it is likely to go to 5p and £1, whilst staying broadly the same for the rest of the month.
That, my friends, is all you need to know about today.
Ha! Good man
You are clearly glass half full sort of chap. Just go easy on the positive spin. You were nearly the first person I ever filtered for ramping today!!!
10% down
Oh well at least there are champagne corks popping at the Jonesrichard house tonight
OK Rosewall but are you saying that's good or bad.
A leak - must be bad to send sp down.
But bots to attack sp suggests you think the sp was manipulated down.
What youve posted is contradictory
you are about to get loads of responses to that: Tree Shakes, MM manipulation, Shorters closing out, Shorters shorting more, algorithmic trades, stop losses, leaks, city boys cashing in, city boys losing out, price about to double, price about to halve, £1 party, Chris calling in the administrators, RNS tomorrow, no news until next week, buy, sell.
Everyone's guessing. I don't know, but I don't believe anyone else on here does either.
Today's board reads just like it did for a couple of weeks after 6 August.
The truth is there is no news.
If the Bonds had been pulled, there would have been an RNS. Don't forget the slide started at 12.30 then STOPPED abruptly. If that was on the basis of a leak it would have kept going and the Company, if it had news to announce, would have been forced by law to announce.
If the Bonds had been placed, then the same.
I think they have relaunched the bonds and they have warrants attached which means more dilution. But they've not been placed yet. They will be placed quickly, because JPM will have the book lined up.
Frankly, even if there are warrants attached then if they get them away I regard that as positive and the SP will then recover. But this move today cannot be as a result of complete failure, because we would have heard by now.
jonesrichard
Sorry pal, I think some of the stuff you write on here is daft. How can this be a good day.
No way to do that for PIs. Bonds are for institutions only.
I think they are sick of PIs and today probably tells you why
Fed Meeting is tomorrow lets not forget. Rate cut almost certain. Suspect that the Iran news makes the cut even more certain. If we got a 50 bps cut that would be very good. 25 bps almost certain and priced in.
I think news may come Thursday this week as i think the relaunch has been timed around this Fed meeting and rate cut.
Its going back up as quickly as it dropped.
Yes - where is that Unanimity???????
Share link or location.
LifeOnMars - agree. Having followed this board now for a few months more closely than before. I am astonished by the complete and total rubbish that gets spouted on here. SP drops 10% in 1hr - "this is a tree shake. MMs. Moving PIs to IIs."
How on earth can this possibly be a precursor to good news...….
ps - I really hope you are all right though....
Sorry - a Bear trap - pls explain.
Bramberboy and pion3r seems like you know how this works?
Yep 10.34 now on google. Very odd. I wonder what causes this. Currently down 7.5% in 30 mins having not moved much over past 3 weeks..... Warrants attached to bonds??
hmmm not looking too clever.....
Scotsman - I saw that too and was curious
Woolverstone
Good post and one I wanted to follow up on. I looked carefully at the sequencing of events and the press reports in the run up and aftermath and I think your analysis is close but not quite there. It is a while since I looked so I don't remember the chronology dates exactly, however I think this:
I think that SM had soft commitments for the bonds on Thurs 2nd or Fri 3rd at 13.5%. They knew this was an eyewatering rate and much higher than they had budgeted for, so they leaked into the market to soften the blow via press. See Times on Fri 3rd August.
They were then all set to close the bonds early following week when Trump and China let rip and the soft buyers then either 1) withdrew or 2) demanded a rate above 13.5%.
Now, either 1 or 2 is irrelevant because a rate above 13.5% is not within the conditions for the JPM revolver facility.
I think that's why they pulled it, because they either had soft commitments withdrawn or they had commitments at a coupon that was in excess of their maximum.
So, i think they would have taken 13.5% had it still been on offer - and blimey I sure hope they didn't walk away from it !!!!
I would be really surprised if they put an RNS out to say they were re-launching.
Why would they do that, it will just hike up the tension pressure and uncertainty.
There is no upside for them (or, therefore, for any of us) in them creating that atmosphere when they are trying to place the bonds.