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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..
Aren't they just talking about the original MoU that CMET agreed with LB? I don't think its anything more than that
Onetimepost,
Completely missed that. Thank you.
Well, based on that LB has agreed yerms with CMET.
What we waiting for now ?
What is the connection between TSL and Shefield ?
Xel, if you look further down the asx announcement from the company on this raise includes a small paragraph about CMET.. this DSj posted latest link..
This project is worth up to $2 billions
This tells us the potential size of the our asset would be.
Found this
https://stockhead.com.au/resources/titanium-sands-just-got-land-access-for-its-2-billion-mannar-island-heavy-minerals-project/
Looks like fund raised for the above project and nothing to do with CMET. I may be wrong
My own view if this is the actual deal is for CMET they have stuck to the proposed 50% figure (during jv/acquisitions these % are often up for negotiation) which would give strong position for future phases, plus think it’s shrewd from SR.. for them to raise 80million vs their market cap would be fairly challenging given I’d assume it would be project financed.. not to say undoable.. but with LB paying all capex they efficient get a free carry in world class project for purely investing into CMET.. just my take
As Fusion_Trader mentions... https://www.listcorp.com/asx/tsl/titanium-sands-limited/news/placement-3019672.html this seems to suggest a deal has been done, but not announced, with LB taking 40%, SR having 10% etc...
This seems a little odd to me, so going to do some research but I really hope this is accurate
Plus I’d suspect whilst Sheffield may not be entirely happy, I’d expect LB will have stronger financing options given size etc and Sheffield may be happy to be involved to some degree.. just musing now but seems like could be about to get interesting.
Potentially have been over egged, feel they will talk to each other though being in close proximity which could give some substance to it.. Titanium only announced few days ago too.. plus maybe like ando suggested, LB have maybe agreed terms and are stating it’s time sensitive..
15/3 RNS stated:
Pursuant to the Sheffield Investment, Capital Metals has granted Sheffield co-exclusivity with LB Group (002601:SHENZHEN) for either party to conclude a transaction within 60 days to provide funding to support the development of the Project into production in exchange for up to a 50% interest in the Project.
I just don’t see Sheffield being satisfied with 10% - so I would think that titanium sands have rather over egged the interpretation of ‘agreed’! In principle maybe, but not signed off and that exclusivity agreement is now fair game. Though if it did value us at £200m, I’ll take the 13x ROI on current sp!
Now just having conversation with myself (apologies but more things popping into my head!) which then lines up with the 10% sheffield already own so looking like will have both parties involved with a
10% Sheffield
40% LB
50% CMET
Lomon billions ofcourse*
And apologies now clogging this board! But (and apologies if this is already well known so please correct me) but titanium sands limited on ASX recently announced a placement to fund their project in sri lanka.. in their announcement it states “capital metals (another HMS project in Sri Lanka) recently agreed terms with alimony Billions in China to guarantee 100% offtake and fund 100% of capex of 80m usd for a 40% stake in capital metals.. deal done then?
The timing side that makes this more interesting is that CMET seems to announce news at all hours so even if no 7am RNS like others can come anytime.
Sheffield might win this. LB didn't seem as generous with their terms. We shall see today or next week?
It’s entirely possible this ends up as some type of 3 way deal with both those in talks. Like someone pointed out on hotcopper SFX chat board, Bruce Griffin while at Sheffield, was advising on the original LB JV.
It’s on bottom of LB JV RNS.
“Capital Metals is being advised by Bruce Griffin of Farview Solutions Limited on the potential transaction with LB Group
Let's just say I was LB and I wanted in. I would propose early and caveat with a take it or leave it within 48 hours.
Why wait until 60 days only to be pipped at the post.
Get in early and get it done.
Just saying.
Ando
Been building a small stake here over past month or so as agree it is an excellent proposition.. feel the JV piece is further forward than most (no nothing ever set in stone these days!) but also very insightful posters too Ando etc which help with wider picture. If (as hoped) there is news tomorrow then will surely get a lot of attention here which might also lose that good conversation! Good luck all and thanks for insight from posters.
It's a waiting game. Hopefully, we get news before this time next week. As long as it's a great deal, we'll be all celebrating. Once funding is unlocked then resource expansion and further licences are inevitable. The scale could be massive, this is one of the most undervalued investments on Aim atm.
I'd love to see the announcement before the 60days of DD are up but in reality it's probably unlikely, as the investing company and vendors they're using will probably need the most, if not all, of the 60 days.
We're just over half-way through the DD, with any luck we'll hear before end of April but my guess is 2nd week in May.
Would love to be proved wrong and I'd be much happier if the announcement was well within the 60 days but as long as it happens, I don't care.