Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
All those years of planning to get to the point of building the mine, and it was a massive fcuk up. Monumental, unforgivable, incompetent, shameful fcuk up. You shouldn’t be able to get it this wrong and be allowed to be a director of a public listed company ever again.
300 million market capital to nothing in a few months.
Lots of interesting points raised in last few days. Plenty of voices supporting the notion (with supporting reasoning) that administration would be bad for the current cornerstones (and banks). The other point I liked is that actually all the cornerstones don’t have to agree a plan - two cornerstones plus the retail investors carry a shareholder vote. I’m a realist, I know there is a strong chance existing shareholders may get wiped out one way or another, but they might not. It’s a hold from here for me. More to lose than gain from selling down here in my opinion.
‘More importantly, the Board is re-doubling efforts to secure long-term project finance from a reputable provider to generate a clear road map to commissioning commercial operations."
How do others interpret the statement above?
If they can’t raise the money at the present time because of the well known reasons - copper price not particularly favourable, interest rates high, concerns over Chinese/Global economy, Asiamet should cut their costs and hibernate for a year until the outlook improves, and avoid the need for a further fundraiser. A raise at this level will indeed be highly injurious. Priced to fail at present. Up to management to show us and the markets otherwise.
As they say, the solution to low nickel is low nickel. Plenty of nickel mines closing around the world which should solve the over-supply problem.
Any predictions for timing of next news drop here?
Darryn has been good for sure, but he’s come in at a tough time (in terms of the macro environment and the company’s reputation). Clearly he has confidence that this will (eventually) get over the line as he is putting his hard earned cash in to it.