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Rns dated Match 25th
https://www.lse.co.uk/rns/CMET/holdings-in-company-hlwf77wuqsgx59p.html
I think that Sheffield has an option to buy more, but I'm only aware of the 10% that they currently own. For all we know, Sheffield bought the 10% to pressure LB and improve the terms of the MOU. We might know very soon either way.
From company website
Name - percentage - date last notified:
Sheffield Resources Limited 10% 21 March 2024
Bart Properties Pty Limited 9.5% 3 January 2024
Brent Holdings Limited 8% 3 January 2024
Roman Resource pty Ltd. 4.7% 3 January 2024
Spreadex Limited 4.5% 25 March 2024
Cantor Fitzgerald Europe 4.5% 11 April 2024
Stanton Investment Limited. 4.1% 9 January 2024
KL-Kepong International Limited 3.8% 19 December 2023
Exciting to see what will happen here though either way, waiting game but we all hope the confidence is there. Good luck all
Is there a link to the 14.77% SR share? I can only seem to see 10% (and on website)
Also how does info like that work when it’s on different exchange ASX vs AIM and wouldn’t presume they have purchased any stake etc?
I do agree with jtis, that it’s a matter of when, not if. Sheffield purchasing a further 10% a few weeks ago was the deal breaker of confidence in this for me. They wouldn’t have invested to such a degree without being fairly certain that a jv was happening very soon. We’ll find out in the next 3 weeks. Hopefully Monday.
Sheffield hold 14.77%
it's in an RNS
It's a matter of when , not if
Surely, Sheffield would not have taken a 10% stake without doing due diligence.
Interesting exchange. I find it very hard to believe that TSL would have issued a public report stating that Cmet had done a deal, when Cmet haven't announced it. TSL would be in big trouble with the stock exchange, and this type of misstep is normally prevented by advisors who check every report and stock exchange statement.
I can only assume that TSL are getting confused with the original proposed LB deal from last year.
Would be very happy to be proved wrong... :-)
I never count my chickens with any stock until deals are done etc BUT this one does have strong potential and possibility of opening a lot higher once deal is announced and as Ando has mentioned previously could continue to rise like EUA did a few years back.. 12 months construction is very short so to be in early with a company growing is the ideal scenario.
If CMET comes out of the blocks at £100M that's a big step up from where we currently are. I think that the next six months could be massive. The resource is hugely underestimated but that will soon change.
Sorry for clarity when I said business I meant the JV not full CMET. Very exciting though.. plus with offtake 100% guaranteed then can be confident in revenue forecast (which is massive in my view).
RNS on Monday?
The deal would in effect value CMET at £200M off the bat. That will give a big boost to our SP. But with huge resource expansion potential and further licences ahead, we could be up a £1B by the time production starts. Does seem like an explosion.
It's not 40% of the company.
It's 40% LB and 10% Sheffield and 50% cmet of the income from this project.
The others are paying money for a slice of our licences to mine for 10+ years with projected income of £££ millions.
Why would there be a placing when it’s CMET who is selling stake and looking for something. LB are saying we will give you 80m in effect for 40% of the business.. which is all the capex required by reading of it. So that’s the transaction perimeters.
Where do people see the Sp starting once announced? Feel like it’s one of those you have (or had?!) to be in it pre news
So how will CMET award LB 40% of the company? It’s going to have to be a massive placing, surely?
....3 weeks left of the original 90 days, if my calcs are correct. C'mon you bluddy lawyers - ink it in!!
There is no error.
Think about what exclusive or exclusivity means.....
How can you possibly give "EXCLUSIVITY" to more than one person or group unless they are in collusion.
Could be the original MOU? We don't know whether they made a small error when referring to CMET. We should know very soon though.
From what I can make out TSL is just in the same industry, no connection other than that. That said, I did find an earlier investment note where TSL talk about CMET and that was relayed to the MoU with LB Group.
The date of the announcement from TSL struck me , given it was 16th of April 2024, as did the 40% equity share as all previous talk has been about a 50/50 joint venture… so either they’re making stuff up and including it in an investor note on ASX or they know it’s happened.
Fingers crossed it has happened and we start to see the SP rise.
Xel, Here’s hoping!
On what waiting for I would guess it’s contract drafting, final legal reviews and process without knowing what stage ie is it heads of terms agreed.
Again all my thinking so those with more knowledge and history in Cmet please correct me.
Onetimepost!
Exact same thoughts
I started to read it that way (and it might still be) but what stood out for me was the announcement was from 16th April this year .. 2023 mou doesn’t strike me as recent (my take) and also the 40% share to pay for capex which I don’t think ever seen mentioned before - plus this would line up with the 10% that SR currently own of CMET..