Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
It's. easy to complain that the offer was too low. If it was why the SP was so low before bid? As pointed out here that in mast cases they don't get to bid price even after two years. Look at ELM after 3 different people bidding they never came back at thSP still hasn't. recovered. The main problem is UK bosses want pay packets similar to US counterpart but without doing any work. They don't want to loose their gravy train and sod the shareholders
It's. easy to complain that the offer was too low. If it was why the SP was so low before bid? As pointed out here that in mast cases they don't get to bid price even after two years. Look at ELM after 3 different people bidding they never came back at thSP still hasn't. recovered. The main problem is UK bosses want pay packets similar to US counterpart but with put doing any work. They don't want to loose their gravy train and sod the shareholders
All stocks in FTSE are dog and controlled by shorter. The results don't matter. They go up 5% for no reason and you start buying it suddenly drop by 10%. Then it rasise slowly and the shorter have taken the biscuits now the next round.
There were lots of buys, the difference is over 2m and the so tanked. It appears they were bought to order at a lower price sl that someone can make a bid for it. My hunch is one of the overseas bank which piggyback on a UK bank to sell their products. The UK banking licence would be worth the price to get their hands on this. They may wait few weeks to launch a low ball bid. Hand on to your shares and add if it drop. I bought dome yesterday and looking for some more.
DYOR
I am glad the shorts got burnt. This short selling malaise has gone too far. Every good or bad results got punished on the day or fews days after; so all shares made no progress over decades. Look at HSBC it dropped 7% After a good results. There are many stocks like them. Then all aim stocks move 10% for no reason and mm don't make it easy to trade because the spread is over 10%
All companies always reject the first bid hoping they will come back with better offer. This doesn't happen all the time as we all know few current companies did that and never received a 2nd bid. Their SP has dropped to pre bid price or lower The next bidder after few months may not offer the same or better bid as circumstances changed as the premium dropped because underlying share price is lower.
I wouldn't. jump-in. The same outcome in the previous 3 attempts by others. No didn't come back to offer more, because this struggling outfit is not worth much more as the buyers don't think there is much in it without spending more. Now it will drift back to 110-120 range.
The management get good income for them why would they give it away?
The family members and friends now own more than 72% of the company. They have been busy buying out all major shareholders at a discount. It appears the new may be announced with the results tomorrow as they have already sacked the CEO who was a figurehead since his appointment. Now another friend is coming in on 1st July and taking it Private may happen at the same time.
May be time to fill the boots before tomorrow as the news come out with the offer to purchase remaining shares at a small premium. I guess is may around 125 -130 as they already have most.