Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
My timing is generally appalling. But I did not think we'd see this under 90 with gold over 2000. So feeling comfortable with today's top up. Just looks great value on gold and silver finds its feet, could be stonking value.
And yet so many here have managed to draw some. Each more negative than the last.
I too have largely given up trying to add any balance the discussion. Happy to join JC and leave the Debbie Downers to their echo chamber of doom. Cheers fellas.
Didn't call it an exploration company. Also don't give a stuff about Marula.
I'm not sure I've ever followed a start up miner that doesn't swing its narrative fairly dramatically, on funding and also often exploration (the latter largely the carrot to raise the former).
Well that escalated quickly.
The expected straw man fallacy, from the usual. Nobody has denied financial difficulties. My post (and almost all others) was expressly sympathetic to their existence.
I've been avoiding your bait lately, beebs, but had a private chuckle at your recent argument that Robbie's motive to lend cash to the company was to somehow convert himself from shareholder to creditor for insolvency mitigation. So ignoring that he's thrown all his shares into the pot already and is currently precluded, by more than one regulatory hurdle, from purchasing more shares, you reckon him putting fresh cash into a company that you claim is insolvent, in the hope of getting pence back on pound, is some sort of strategic manoeuvre. Reminiscent of my late grandmother's strategy of buying tat on a 50% off sale to 'save' money. Pull the other one. Speaking of which, I notice the actors pretending to mine on site have got some nifty digger costumes. ;D
JC, Im not always quite as sympathetic with Robbie as you are. However, there are days when the negative comments (often by the same people) are split between alledging (without much corroboration) that the company is insolvent and then immediately complaining that the company is too stingy in their hiring of proffessionals. On those days, I feel for the guy. Anyone who has started a business, knows the feeling of having a tenner to allocate to £50 worth of problems. The fact that that Robbie often uses his own money to make up the shortfalls speaks volumes.
SW. I'm with your understanding (also gleaned from sifting through some wildly varying views). From the less rampy voices that I trust, base camp looks to be pitched at 2000. And all things staying more or less as they are, 2200 looks very reasonable. If the Middle East kicks off as a broader regional conflict, or if there is a credit crisis of some sort, sovereign, banking or private, then 2500 looks very rational.
To think that our business case (of a year ago) based on 1650 -1700, gave over 100% ROI, is mouth watering against the current gold price, even with the additional debt servicing occasioned by the delays. Although maybe worth bearing in mind that as far as I can make out, a limited few of the works planned under the original failed 15m funding package seem to be happening, now piecemeal. Heap 4, for example I think was listed under the original funding works? Happy to be corrected on that.
I agree JC. I think the fairly light in content tweets are their way of communicating a heart beat, letting us know they are still chugging along from an operational standpoint.
On a related note, I was intrigued by the new road they cut on the hill. Aside from the obvious fact that new access roads are expansionary, by definition, the only reason I can think of for it, would be to access a new area. It doesn't seem to be the sort of thing an insolvent company would be doing.
While I understand the worries (repeatedly) expressed here. The activity on the ground appears to tell a different narrative. I'm keen to stick around and find out which one is true. Although I do have understanding for those who don't. It's a classic gold junior dilemma.
These questions are all critical. I've been trying to avoid the frustration of watching the English business year year start up, while forgetting that Kenya has a longer shutdown over Christmas, than we do. But with Keyan schoold returning next week, hopefully our auditors will be back in office to going again and we'll get some answers soon.
In fairness, the risks are well known, broadly discussed and more than priced in. I think the opportunity is for those who think the risks will not be realised or will happen and be overcome.
That's a kick in the nuts, Trek. The shareholders of a decent operation getting robbed, if this goes through. Hopefully the lowball operates as a tree shake for alternate bidders have a go.
Agreed JC. And the work extracting at our mine isnt static either. Just because lawyers and accountant take a break, doesnt mean mining stops. Every cent on the POG goes straight to our bottom line.
No problem dalesman. I think (at least for me) that the trick to keeping my sanity on these small and risky investments is to temper expectations. These guys are a tiny team for any operation and for the main exchange, microscopic. They really are not sufficient to manage the tasks on their plates.
But that's the risk, with a potentially matching reward, if it comes off. If they had the crew to knock off this stuff with time to spare, they'd not be the opportunity that they are.
Can't speak for others, but I suspect that I'm not the only one hoping for a Swan from an ugly duckling. But to find that opportunity, I resigned myself to owning an ugly duckling for a while.... and that journey has a few bumps, and missed targets, by its nature.
Folio, I think that distinction is the pleasing one. That the apication is for a mining licence and not the class below that (prospecting licence). Its also worth remembering that the JV currently under discussion is for the incoming partner to build out the project. It won't require our cash (which, we are often reminded, is tight). I'd love to the expansion in Kenya get back on track, as our primary focus. But the news out of Tanzania is looking really interesting.
An endless stream of Dunning with a side order of bottomless Kruger.
Kenya's main holiday shutdown, is Christmas and New year, so not for the next four weeks, at least. Hopefully something by the end of January. And with a bit of luck, maybe snippets of news that don't require the various professionals to be in office?
Also beeb. You were a little selective in the bits you missed out of your dictionary definition of "charade/s"and only quoted the meaning of the word used in plural. According to Collins, when used in the singular it means,
"If you describe someone's actions as a charade, you mean that their actions are so obviously false that they do not convince anyone." Or from dictionary.com, "a blatant pretense or deception, especially something so full of pretense as to be a travesty". Mmmmm. Sounds like your definition was a bit of a "charade". ;) Joker.
Don't mention it. Been kicking myself looking at that tweet a second time. Should have guessed by the jaunty angle of some of those safety helmets, that those could never have been boring old auditors and were in hindsight, obviously thespians, there for the game.
Sorry again. A scam and a charade are completely different.
Sorry 28th of November..... yes I know pretty poor form for somebody claiming.....etc etc.
In other news that old completely irrelevant POG seems to be perking up again.