Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
7 sells over a quarter of an hour period, each for exactly the same odd amount (£1010) so presumably from the same person who had decided to offload but was worried about a larger sale attracting a lower price.
If this is bad incoming news, only one person knows about it. It's more likely they chose to offload to finance a purchase of some kind. Bad timing in IMHO
Very disappointing response to all that geological information that has been dredged up recently. I think the market is waiting for news and needs something significant this time after all the recent setbacks.
The future is CASP. The future is vuggy.
Somm has a good point CC. As I commented yesterday, the notable change in the accounts since last year is the rise in net current liabilities. Their liquidity position has got worse and it needs an increase in output to turn it around. The overall position in terms of profitability after tax has remained stable which is good, but they need some results from their current drilling activity in the next few months. I am optimistic that this will be achieved.
The two financial figures that stand out for me are, firstly they have maintained profit after tax compared to last year's equivalent period despite adverse circumstances; and secondly net current liabilities have increased substantially. This is only partly due to the dividend, the rest being probably due to different trading arrangements in the domestic market and new debt being taken on to maintain drilling activity.
As laid out below by people who understand the technicalities of the oil industry much better than me, there are reasons to be optimistic about 2024. They will need some success to address the net current liabilities issue and put themselves in a position to resume the dividend (without which the sp will remain sticky)
Gwm121, I have just short of half a million shares. That could be life changing if rocketeer is right! There are a number of people who have several million shares who post here from time to time, Smarty being one of them.
Success in the shallows has got the share price moving before and can do so again. Next time there will be greater awareness of the water problems and the sp will be less excitable, but proof that this problem can be resolved will give us a lift.
Boaty will also help us one way or the other. The failure of the sale does actually mean we will get more income next year which will partially offset the non-materialising capital gain. Either way, this provides money for drilling and perhaps a re-instatement of the divi.
In other words, we're back to pre dividend levels. If and when the dividends return, the market will be justified in doubting how long they will be paid for, so share price recovery may be slower. We will need a series of good RNSs. Meanwhile we are in the silly season and trading is thin.
Sailor, the sale has fallen through. We are back to square one. Talk about a "potential" alternate buyer is just that: talk. It is not a matter of "qualification"
This is a deceased parrot. In no way is it pining for the fjords!
The licence reuirements mean that they have to drill a certain number of wells. We have been hoping that they are learning as they go along with each deep well, and they certainly have learned with the shallow ones, but the deeps are difficult to crack.