Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
From another share chat (JLP)
Codelco ends long – term mined copper deals to China clients from 2025 – sources
LONDON, Sept 15 (Reuters) – Chile's Codelco is ending long-term contracts to sell copper concentrate to Chinese clients from 2025, bidding to broaden its product offering to them after evaluating its production outlook, five sources with direct knowledge of the matter said. The sources said Codelco is aiming to replace exclusively copper concentrate deals with others that include concentrate and value-added intermediate products such as blister and anode which are derived from concentrate and can be turned into copper metal or cathode.
Some Chinese customers have protested against the changes, but will have to accept new contract negotiations that include intermediates because they will need Codelco's concentrates at a time when deficits are expected, the sources said. The Chilean miner wants to restructure its sales strategy and agreements because of uncertainty about whether it can meet its contractual obligations, the sources said. "Some measures adopted are due to the normal management of Codelco's commercial product portfolio and not to availability adjustments and/or lower production," Codelco said in response to a request for a comment. Codelco continually updates its contracts according to the prevailing dynamics in the market." Operational problems at the state-owned miner saw its production slip last year to about 1.46 million metric tons, the lowest in around a quarter of a century and output has slipped further this year.
Codelco is expected to produce between 1.31 million to 1.35 million metric tons of copper a key material for the power and construction industries. Output at the world's largest copper producer has been dropping despite $15 billion invested in flagship mines including El Teniente and Chuquicamata where costs have overrun significantly, according to an influential industry body. The sources, all of whom have long-term contracts with Codelco, said they had been receiving termination notices from Codelco from July to August and that the company wanted to start new agreements with different terms. Two of the sources said Codelco was ending their evergreen supply contracts from 2025. Evergreen contracts introduced by Codelco in 2018 are two-year and three-year deals which roll over annually, in which customers can be assured of certain amounts a year.
Codelco accounts for 29% of Chile's copper production. Chile's congressional committee in late August launched an investigation to review Codelco's corporate structure and project delays. China is the world's biggest buyer of mined copper with its import volume accounting for over 60% of the world's total.
The global copper concentrate marketIS EXPECTED TO SEE A STEEP DEFICIT during 2025-2027 as Asian and African smelters ramp up capacity, outpacing mine supply.
it is a nice place to be though, eh? :)
https://twitter.com/MiningVisuals/status/1650018289668567041/photo/1
I wouldn't be surprised if the next rns on the rio drill assays show that the first 90m visuals show strong veining and visible gold. Someone with loose lips saw the first cores, and has let slip their impressions to those with little birds. Explains the rise and volumes of the last couple of days. Great news! One asset is a find, two is a pair, but three (and more)strong ones becomes a system.
sparks; nope, bought in before the duster @9+p, ouch, and held after (to my chagrin). Since you were in at that time - you were, weren't you? -you will know it dropped to sub penny pretty quickly, rose to (from memory) 1.6p, then downhill all the way after.
Then bought in more at 0.6p. *almost* bought more at 0.03p or whatever it was, but thought "better" of it. Ouch again.
I had written this off entirely. I had invested a decent amount of money in it - decent for me, that is - but it was still only 10% of the folio, which then evaporated to naff all. Hence the mental writing off. Had more important life-matters to worry about, without thinking about plummeting share prices. Besides, other shares come good, and if it's 2 good ones to one 'bad' one, that's not a bad ratio. For those in here since <0.05p, congratulations!
So, I will be elated if this does all materialise to 5p or more, even if it's just to get my money back at the 3.5
to answer your other question, I thought I had posted here before, but it would have been back in 2016. However, looking at my history, it would appear not. I used to be active on the ii board, so may have been there. Who cares. I don't bother to post on shares I have mentally written off. The activities of the last couple of days however did catch my attention.
Shaa, you're a farktard, but do try to be a little less defensive, there's a decent chap/ess
Albertaoil, I bet you haven't filtered me, have you? ;) Funny, I'm sure there used to be a mega-deramper called oilberta on one of the boards, was that you before you bought back in? :)
Finally, thank you nina007 for the link, which I'm going to read after I finish here, and manifold thank yous to hopingforbags, who actually answered some of my queries, and didn't spit out their dummy like some other farktards here.
Gla investers. You traders can go fark yourselves.
...It used to be that you could change the subject title mid-thread, but that ability seems to have disappeared, so I'll start a new one, with a bit more of a positive title. hopingforbags, feel free to reply here rather than continue the old thread, if you are still inclined to respond.
Still hoping to get my stake back, what is the current projection consensus for sp, but on the company status as of last close of play? No fairy tale stories, please, just conservative (so I don't get too many hopes up) numbers with preferably figures to back up the calcs.
"Here's a thought. What if the prospectus was done but some last minute news (Acquisition/OLP226/marginal win) requires that it be re-written to reflect a LARGER mcap?"
That would be jolly nice indeed. As I say, at the moment all I'm looking for is my stake back, but that is (currently) at a 3.5p average (insert sad face emoji).
hopingforbags (directing this at you since you seem to have some sense, but anyone else with constructive commentary welcome),
Would it be reasonable to suppose such a large injection of nominal cash into a company during a suspension period would therefore not be permitted, without the issuance of new shares, or is that still permissable?
"Unless in between Art decides to add more shares with another placing your share holding remains
the same and so does the shares in issue, which fully diluted from last placing actually makes the
company worth over £50m Market Cap"
That IS the biggest fear I have, assuming everything else goes well. Since the trading is suspended, the current value is too. Doubling the nominal share issue with a £37m pump of money would see everyone's value halved, whilst providing a nice return for the source of the money in a new company valued at, say, £370. Whilst still not terrible, it's still not exactly fair, eh?
(though, it could be said, if I wanted 'fair' I shouldnt be investing, and that's a fair comment , if a little cynical ;) )
hoping for bags, thank you for that. At last someone with some sense!
"The number of shares in issue will remain the same and will return the same and the market will
decide where our new trading platform will be"
Can you point out where this is set in stone (your caveat aside)? Not being facetious, genuine question.
scottishking, sadly I've been in here since 2016. Have bought more at lower levels, after the unlucky even in nigeria, though still not as low as this. Would be very happy just to get my stake back. So your point is valid, but as I say, watched this with vested interest for a few years now, and have seen the shenanigans. Hope I am wrong this time.
"Absolutely ridiculous, this suspension ( temporary ) is nothing at all , simply following the rules !"
According to the RNS, these shares are being cancelled.
"The Suspension is intended to prevent trading in the Company's common shares post completion of the Atomic Acquisition.
Following the Suspension, the Company intends to proceed to make a further application to the FCA under Listing Rule 5.6.19 to cancel the listing of the Company's common shares from the Official List of the Main Market of the London Stock Exchange (the "Cancellation Request")"