Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Seems like things couldn't really be much more hopeless here now. I wonder if the company will just be left lifeless as it is now for years, or whether it will ultimately end up as a cash shell. I'll be very very surprised if we ever see any interest return here or any SP lifting news from the current investments.
It's probably not worth asking, but has anyone heard anything regarding Craven House Industrial?
I just want to express my thanks to Grawostac, CJ and anyone else attending the AGM. CRV seems such a hopeless situation for me that I've given up really paying attention to the ongoings. I've no real questions to add, I just wonder whether it was incredible incompetence or malicious that has caused the value destruction here. It's taken me reading back through the RNSs just now to realise it's still less than 2 years ago that we raised $2m at $10 per share!
Obviously Covid is a factor in anything, and I'm sure it will be the excuse but the decision to move the supposedly better assets away to never be seen of again seems astonishing. We were told AIM wasn't the place for them and the new investments were more to AIM taste. The market cap is now under $1m and there has been $68 traded in total this week! It will surely again reach the point were the listing fees compared to market cap make this unsustainable to stay on AIM, but what's the point selling when my shares are 95.66% down.
I do hope despite this, those attending have a productive day and enjoy the meet up.
Very prompt reply from Mr Pajak here with the information for anyone interested;
"In the event that you wish to sell any shares in CIH or acquire further shares please email info@cihplc.com stating the number of shares you wish to buy or sell and the price at which you are willing to transact. Buyers and sellers will be matched on a monthly basis with sellers who have been waiting the longest and willing to accept a buyer’s offer being matched first. In cases where there are several sellers stating the same minimum price, sellers will be prioritised according to how long their shares have been listed."
A lot to read there and it seems most likely deliberately confusing to me.
I think the gist of it is that they're separating the assets into the 'real' older assets and the new ecommerce assets. The old assets being moved off aim to a private company and the ecommerce business staying. 100% certain no PIs here want to be invested in the recent acquisitions so seems pretty terrible news to me if I'm reading it correctly. Last thing we need is Pajak needing to be less transparent. Good knows why the premium investors got involved.
What's your thoughts here TC/Cjohn? I think it's a fair assumption there could be some link between him and them. If so, once they get their stakes they'd be well over the threshold to make a takeover offer if they work together.
Could the posts about gaining a listing and CRV being their bank now mean a RTO? I know you interpreted it differently Cjohn. I'd have to say I'd be surprised Pajak would allow this but I guess everyone wants to move on at some point and we've been in the duldrums for years.
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Me, you and a handful of others have been here before TC(Evan K's original stakebuilding comes to mind) so I'm going to be fairly cautious before thinking some big news is imminent. Even so though it's great news and we are in a far better position than a few months ago when we reached the depths of $1.75. Been here long enough now, a while longer doesn't make too much difference to me.
Are we assuming this to be GEM offloading what they converted last week? If so the SP will be hammered by the $650k of the note still to be converted. As you say, we will have to hope Gyllenhammer is happy to keep investing.
I really hope you're right on that guys but I'm not so sure. CJ has a far greater knowledge on Gyllenhammer than me but from what he's saying it sounds to me like he's a value investor. Therefore he might just look at CRV as undervalued based on NAV rather than be buying for any specific event. The positive in this though is that he must believe in the underlying assets. A lot of these are distant or hard to value so this brings me some reassurance.
Hopefully I'm just cynical after all the previous similar stake building(Evan Kalmitgis etc) which I used to hope was a sign of inside knowledge but came to nothing.