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nice news this one is going places in the lithium world https://www.otcmarkets.com/stock/ENRT/news/Enertopia-Announces-West-Tonopah-Project-Update?id=352810
Probably not going to buy it right before a recession! Maybe he picks it up for pennies on the dollar out of BK! Woke = Broke!
You are 100% correct. Why would we sell for 1million? If ELON is jumping in the game and we sell it for 1million, the people we sold it to could sell it to $TSLA for 10x or 20x that is if it is what they say it is. McAllaster has done nothing but live off shareholders for over a decade. I was invested in this when it was a Canadian MJ company. All this guy does is dilute the float. He will get $1,100,000.00 and invest 0% of that into the company. He will hold shares of the new company and if they pop, he gets rich, and all the while holders of $ENRT get NOTHING while this guy has his nest egg secured. I'M VOTING, HELL NO!
Can you sticky that Seeking Alpha article? tyia
Elon Musk Could Buy Cypress Development
https://seekingalpha.com/article/4500777-elon-musk-could-pair-up-with-a-lithium-miner-cypress-development-lithium-americas
Thanks for that, Zino. Quite informative and exciting potential upside with Musk. Things are brewing!
Soon we Get 3 Million Cypress Shares !!!
A little more info. Victory Resources has a helpful map of where the various Nevada claims are: https://www.victoryresourcescorp.com/smokey_lithium
You can see the clustered Clayton Valley claims and North of that the Big Smokey Valley ones. It looks like Enertopia has again claimed ground near a larger operator, just South of American Lithium's TLC lithium project
https://americanlithiumcorp.com/tlc-lithium-project/
they have another lithium project/Claims ? tyia
In theory, this sale gives Enertopia cash to move forward their extraction process and their claims elsewhere in Nevada (10x as large as this one) Also the shares in Cypress give them exposure to that project. Their land holdings there were not large enough to ever develop solo, so this was inevitable. Not a bad return for finding an claim staking mistake by Cypress and claim jumping/squatting for a nice profit.
Regarding the voting, just received my voting materials in the mail so officially the sale hasn't happened yet but it is just a formality.
Sorry to be obtuse, but what does selling to Cypress mean for the stocks I own in ENRT? I suppose that means ENRT stocks I hold now are more worthless than ever unless they come up with some other big project. It seems that they come up with something and sell it off. Also, did any of you shareholders get to vote about anything? I wasn't notified there was a chance for me to vote on anything.
added a few more absolutely silly mkt cap here for what they have
1.1 mil $
3 mil shares
Looking to see what happens
Ec
Is it sub penny yet?
Years late and dollars short on a sale. Essentially a 6 million dollar buyout for the business. The only bone you'll get is the fluff spin pump for the dump. Try and keep up..
Really crafty move by Robert. Sell a land holding too small to develop but right in the middle of Cypress claims. Get stock to have exposure to that project, use the cash to develop your own lithium site 10x as large. Was pretty upset when I heard the sale news as that seemed like game over or just pray the tech works. Then bam, this news comes out and it all makes sense. Quite pleased and the initial PPM grades of lithium on the new claims are economical. In essence get a piece( shares) of a future competitor and use their cash to ramp up this.
Feeling a little upset you missed the move? Try to keep up.
So you're saying that he already went and blew the money. Derp.
It was a deal that allowed them to take on a project that is 10x as large. Try to keep up.
2M shares traded already today on HUGE news.
news wow huge news, this should be getting huge volume, 6M mkt cap is ridiculous here https://www.otcmarkets.com/stock/ENRT/news/Enertopia-Announces-a-10x-Increase-in-Lithium-Lode-Claim-Acreage?id=345946
Not a very good deal but given where the company is at, they got what they could. This should have taken place over a year ago, before the notes in the fall. That would have been the best scenario. There's nothing for shareholders here imo. Nothing on share distributions to current shareholders. At least it wasn't in the press release. Good luck here.
That does not sound like enough cash to cover the company debt! You also have to wait to unload the shares which could drop in value quickly!
Big news this morning.
pretty big news selling the clayton valley claims for $1.1 million in cash and 3 million stock of Cypress developement. Good move to let Cypress take over mining and they still share in the profits. https://www.newsfilecorp.com/release/114650
Thanks. Should have went back to the update and reread. Forgot it mentioned land. Any idea where it might be? Same area I am guessing.
He said the news was pertaining to acquiring more land with lithium deposits!
Well it’s February…. It’s a big no no to bout timelines out there unless you are more than confident that something is going to happen. CEO mentioned we might have some news by end of February.
Any ideas what it might be?
Someone should probably tell him that Woke = Broke!
He probably should go back to drilling for oil!
"While we are excited about these developments, we are even more excited about the dozens of other potential Li claystone targets that our exploration team have been energetically pursuing. We are in active negotiations and expect to have updates before the end of February on this front"
nice lithium news
https://www.newsfilecorp.com/release/110257
Company needs to concentrate on getting lithium production underway as world shortage coming.
And Poof it's gone!
https://www.cpr.org/2020/11/20/boulder-ends-decade-long-pursuit-of-city-owned-power-utility/
Woke = Broke!
I'm fairly sure they got what they deserved!
I already know the direction! It's not up!
Looking good. Supply chain issues need to be resolved.
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