Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
On the 26th September 2022, when we had already lost a year.
The RNS stated the Company is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with GSM whereby GSM will make an immediate equity investment of US$6.0 million at a price of 6.0 pence per new ordinary share.
It added that 'The Company is now funded to complete basic engineering work, remaining permitting and project financing processes through to a construction decision'.
Over 18 months on, they have done the same thing at 1.75p and raised only £2 million, after repeatedly being confident that they would get the ESIA approval.
I am clinging on to fact that these investors must still be confident that the permit will come or else they wouldn't have bought the new shares but yet again the RNS is thin on timelines, as other posters have stated coming days could easily be the end of the month, and lets be honest it's absolutely imperative now that the EIA (now renamed) is absolutely robust and water tight as whatever GC may state today that it met the criteria required before, clearly it didn't in the eyes of the people who matter the issuing authorities.
I remain hopeful, but very frustrated.
On the basis of the last 2 years the quarterly update, should come within the next 2 weeks. Re-reading the quarterly update from this time last year and 2 years ago, does make very sombre reading as we still still await the ESIA.
The update needs to be very detailed and clear, and not vague. It needs to tell us shareholders what the timeline is now for a decision by regional. The company was stating a year ago that their efforts to finalise the remaining outstanding items with the relevant authorities in Morocco was being rewarded with 'constructive meetings and encouragement from the various agencies involved'. They were then confident that national would award the ESIA.
Surely now with the extra revisions/improvements and the referral back to regional they can now fully provide regional with what they need to finally award the ESIA.
What an award of the ESIA would do to the share price is anybody's guess. For now the market is much less confident of the award coming soon than it was in early 2022. What I am trying to work out now is should all long term shareholders be more confident now that this is finally coming, as GC must now have an extremely clear idea of what they need to revise to finally get this over the line?
I have believed RNS's from GC over the years, only to see things not come to fruition, I think the 9th January 2023 RNS where he stated ' I am confident we will be able to provide some substantive updates over the course of Q1, and that 2023 will be a transformative year for Emmerson' really does spring to mind as I genuinely believed then that the ESIA would drop before end of March 23.
Now a year on, I really don't know what to make of it all. I guess the market doesn't either, hence the drift here.
I took the decision to stay invested a while ago but like many long term holders my average is over double the price today, just have to hope that GC for all his endeavours can finally at last get the ESIA awarded.
Such a hurdle overcome it would be, really hope it comes soon.
Yet another quarterly update is due in the next few weeks. The ambiguous language used in the RNS makes it impossible to know if the announcement does genuinely make the awarding of the EISA closer or not. I sincerely hope so but the RNS is vague on detail. I don’t recall either GC or the finance director informing shareholders at any point, certainly not in their interviews in February where they said they were confident the ESIA would soon be awarded that national upholding the referral back to regional was even a possibility. s this has now happened and they are pleased I just really hope as a long term share holder that this really is a positive and the ESIA does soon follow.
It is all great stuff, makes the compelling business case all the stronger. However we just need the ESIA to be awarded. It's 6 months since the earthquake in 2 days, so it's getting beyond comprehension to think that business as usual in government has not returned. The ministerial meeting to determine this and hopefully award this must therefore surely now be scheduled, but we have no information at all on this. Very very frustrating for long term holders.
Does anyone expect an RNS when the company become aware of the date? I don't think there will be one.
At this rate I'm expecting yet another quarterly update RNS to arrive before the RNS we have all been needing for almost 3 years drops.
I continue to hold as I can't see any fair minded reason now why the ESIA will not be awarded now and surely soon, but I just hope I am right as there is no future business with very significant revenues and profits without it.
We just need the ESIA as simple as that. Without that we are nothing, with it we are a completely different company with extremely good fundamentals.
As a long term shareholder slight movements up in the share price without substantive news whilst not unwelcome mean not a lot to me as I like many others have an average much higher than the value today.
It is almost 6 months since the earthquake, GC must have had some notification of when the meeting will take place now?
Very good to hear from you Westie, pleased to know you are ok. Your contributions are very valuable but totally understandable if you have decided to take a step back from posting.
I remain fully invested but just hope that the ESIA does finally come soon, it has been an extremely long wait and a very frustrating time for long term holders.
All the best to you.
Still well below my average so just hope for positive news with the ESIA. I think the RNS makes this more likely, hence the increase over the last few days.
Note Graham gave no guidance on when the meeting will take place, my impression was he genuinely didn't know but he did talk of positive discussions (although we have heard this many times before) - so I just hope now the ESIA now gets over the line.
Have just watched both interviews. I am now the most confident I have been for over 7 months which I admit is not saying much.
It is a positive development, as was the update on costings which given inflation was not to much of an increase.
If we ever get the ESIA then the already sound economics have indeed approved.
No doubt the new process will be taken into account when the decision is taken, or feedback is provided as Graham said, so I don't think anyone needs to be concerned that this will not form part of the assessment made by the Moroccan government.
Also clear this has been done to take steps to ensure we get the ESIA over the line. I would like to hope it does and soon, however GC gave no indication at all as to when he expects to hear feedback.
I honestly thought when I bought my shareholding that Morocco was a sound place to do business. I am just not sure now whether to be really concerned or actually pleased with the OCP news as it must offer excellent possibilities for EML if handled properly and with fair process at work.
Graham has repeated said that he knows of no reason why the EISA will not be awarded and all matters outstanding had been dealt with. He also repeatedly has said they have had positive discussions with the relevant authorities, if the EISA is awarded very soon I think the business case has just become more compelling. But I share everyone's worries and concerns.
The question is has Graham been open and transparent. I hope so. The meeting has definitely not taken place yet, I think we have that as fact, and nobody could have foreseen the earthquake and there will be other matters on the agenda, so I can't see how on earth it is being deliberately delayed to compromise EML.
I hope we can all have faith in the soundness of the Moroccan authorities and the competency of our CEO to get the EISA over the line. I really hope so for all of us shareholders.
I can't believe we are now in January with no news as to progress. I decided not to sell back in May and sticking with that decision at the moment.
Does anyone think that he might be about to announce he has got the ESIA over the line any time soon? Just a hope really form someone still very much invested.
What a dreadful year as a shareholder in this company. I appreciate the seriousness of the earthquake but even that was almost 3 months ago now, so the normal process of central government that needs to make this decision must have communicated to the company the likely date, or at least expected schedule for the required meeting by now?
Just drift and no news on when the meeting will be. It must be soon now.
No posts from Westie for some time, if you are there Westie what are your current thoughts?
Also pleased to see Graham has shown his face, and I thought he seemed more at ease and we can only take his words that he is confident of approval.
I have taken the decision not to sell, so have to hope that Graham's confidence is well founded.
Surely at this stage the company know when the meeting that GC has confirmed we will be on the agenda of the next one will be? Why do they not inform us shareholders of this very important information.
It could be tomorrow, we do not know.