Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
They used the word imminently in the January release so it counts for very little. Just manage expectations.
Here is the link to January release:
https://clients3.weblink.com.au/clients/greenvale/v2/headline.aspx?headlineid=21500993
The book is all square now, overhang has washed through. Over 26bn shares have been traded which is the the entire mkt cap of the company and over x4 times placing since the raise two months back. Any sustained buy side volume now will take this up 30/40% easily in a single session, its due a session like that.
We've had the Technical Site Survey in and new Board Appointments thanks to shareholder activism over the last few weeks to get rid of the old dross that never communicated. Next news is farm-out/jv/partners & rig contract. There are life changing gains on offer now, prem did 2400% from here to 1p with similar share count to us as did kod, and like them baron has a huge asset following, multi tcf discoveries are few and far between. Expecting anmouncements any time now. It's tagged 0.20/0.30 on 3D & CPR and 0.50/0.60 before then, it can eclipse those. All cashed, circa ÂŁ7m warchest
Atb
News has picked up pace since Butler took charge. Rig Contract & Farmout are up next
- Technical Site Survey âś…
- Board Appointments âś…
- Rig Contract
- Farm-Out
- Environmentals
- Rig Mobilisation
- Well Spud
- Flow test result
As at 31 December 2023 the Company had an available cash position of ÂŁ3.65 million + ÂŁ3m raised Feb 12th + ÂŁ260k in retail wrap offer 16th Feb. So thats a total of ÂŁ6.9m, minus 200k to ÂŁ300k for broker fees thats circa ÂŁ6.5m + $1m of back costs from Timor Gap Farm-Up paid within 30 days of that completing so not less than ÂŁ7m in cash. The Bank Guarantee for $1m is an extra i've not included. Baron is loaded with cash right now.
27th March 2024 - in Andy Butlers first RNS as CEO & Interview he stated that drill funding will be at the asset and project level and has ruled out any equity component at the PLC level. This is all on the record. Listen to interview from 7 mins 42 secs, here is the link to it:
tinyurl.com/2c4nncxu
27th March 2024 RNS:
https://www.lse.co.uk/rns/BOIL/update-on-chuditch-psc-operations-and-ir-materials-c142zcnilhrxgwf.html
Miker44 - agree, for me tho it's the "very interesting discussions with funding partners INTERESTED IN PARTICIPATING IN THE PROJECT" indicates a shift from just pitching to actual getting down to finalising it with entities who want to participate.
Also the fact he was so clinical in his Director Talk interview about Drill Funding being at the project level with no equity component at the PLC level at all. To go on record was bold, you only do that if are close to concluding negotiations and you know you have something.
"Interviewer: Now, I understand that you’re seeking an additional funding partner for the project, are you happy with the way discussions with potential partners are progressing, and is it true to say that the focus is on funding at the project level rather than through the issue of additional equity in the company?
Butler: Well that’s correct, yes, we are very interested to bring in additional partners to participate in the project, to bring additional funding, and a number of discussions going on. Those discussions are in an interesting phase, I obviously can’t say too much in terms of the detail but that’s the situation at the moment and I’m very confident around it.
Am I happy? Yes, I am, I will obviously be truly happy once we’ve concluded some of those discussions, but we are most definitely making good progress at the present time.
With respect to bringing additional equity funds into the group at the corporate level, the plc level, to pay for the funding of the well, I can say unequivocally that that is not the intention and what we are looking to do is bring in funding at the asset level.
So, there isn’t a plan to bring in additional equity money anytime soon, it’s definitely project level investments that we’re looking at."
Yesterdays interview with Butler from 4mins 11 secs:
https://youtu.be/Q7ht8YhV7vs?si=uNjavPzqX2k4Sy6E
"...we are preparing tenders with respect to long lead items and we have conversations ongoing with rig owners with respect to being able to deploy the rig...
...so on a technical level on a commercial level on a regulatory level we are making good progress we are definitely on track...
...with respect to that drilling planning we are working on that we're working on the environmental approvals that go along with it, we are still working on and having some very interesting discussions with funding partners interested in participating in this project and so yes absolutely they'll be quite a lot of additional news..."
From 40mins 20 secs - Butler discusses route to markets for Chuditch, not contingent on Sunrise at all.
https://www.youtube.com/live/PpW7FJfHxGk?si=2HExcOKuu3EjyuFy
Bayu Undan belongs to Timor Leste and was developed and delivered $billions, being further developed (over 70% complete) as a ccs now and will be ready to go in 2025
Listen to Butlers interview towards the end yesterday "funding partners interested to participate in this project and so absolutely they'll be quite a lot of additional news..." we are on the cusp and its due to complete this quarter per RNS.
We are on track per Butlers interview yesterday, Chuditch JV is expected this quarter. Multiple projects exist with partnerships already made so absolutely Chuditch is happening now
Bayu Undan partners - Santos 43.4%, SK E&S with 25%, Inpex on 11.4%, Eni holding 11%, Japan's Jera with 6.1% and Tokyo Gas on 3.1%
Barossa partners - Santos 50%, SK E&S (37.5%) and JERA (12.5%)
Evans Shoal partners - Eni 65%, Petronas (25%) and Osaka Gas (10%)
Greater Sunrise partners - TIMOR GAP 56.56%, Woodside (33.44%) and Osaka Gas (10%)
Nice bit of consolidation today. Volume will ebb and flow. We can't expect an up day every day thats not how markets work. We've traded over 25bn shares since the raise, that is the entire market cap of the company. More importantly we've broken out of a two month range where we were held by the overhang which is greatly diminished if not entirely gone. There are no large placing sells now, the book looks free to move up. As i've said repeatedly it pays hugely to accumulate a big position at these levels. We will be heading into double figures in the coming sessions. Don't look a gift horse in the mouth.
The revenues illustrate how big this asset is on just one satelite. Our share will likely get bought out way before FID, if we hit commercial flow rates in Q4 any major we partner with will want our free carry at any cost as we don't bring anything to them or a consortium of majors. We'll be talking several hundred million $'s to make way, serious boom time at this point.