The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Considering the very significant progress this year, c. 10% is not a lot more to pay.
CRCL looks even better value now than it did a year ago.
In addition to the FGS projects, acquiring the huge Wo Wo Gap nickel project in full was a major coup, which I think exceeded the expectations of most shareholders - getting even half of it would have been good.
Especially as it was gained via the very shrewd acquisition of discounted debt owed by RMI (Resource Mining Corporation), Wo Wo Gap's previous owner.
This transaction was probably facilitated by the fact that CRCL shares a large strategic shareholder with RMI: i.e. Sinom Group (Aurora Nominees), the vehicle of a Chinese billionaire, who was doubtless attracted by the potential synergies with CRCL's nearby Mambare nickel project.
Wo Wo Gap is the second biggest nickel project in the Southern Hemisphere, but a combined operation with Mambare could be the biggest in the world.
CRCL has confirmed that Sinom would fund and/or provide offtake partners/financiers from China to develop the nickel projects, and early stage near-surface mining (similar to tailings dumps) has been targeted as soon as the mining licence is awarded.
The nickel price has more than doubled in the last few years, to its current price of about US$20,000 per tonne, and is forecast to double again in the next few years, driven by burgeoning batteries demand.
Oh I forgot to add "Green Binned"! :) :)
You had better write to the author then moron, or go back to school an learn math!
"Year-to-date change: up 10%"
A positive start to the week ?
And the news out at 1645 today on Share News does put things into perspective and is very positive in my view. Share Price 10% up on the year! Could see some substantial gains here and possibly early next year!
GLA
TLM
He is further misleading because some debt was repaid post year end.
"Member Info for Lazareth"
"Member Since
30th Nov 2021"
Interesting that Lazareth joined LSE only about a week ago, just to attack CRCL.
And I think it's fairly obvious who he is from ADVFN - someone not very Helpfull!
I suggest that he stops the abuse here, which LSE doesn't tolerate, or he may find himself very quickly restricted to ADVFN again.
Losses for development stage companies like this are the norm, so why pick on CRCL for this, out of about a hundred companies in the AIM mining sector?
CRCL's losses are relatively small in comparison to many, and not many have the assets that CRCL has, or the expectation of millions of pounds of income coming in in the near term.
And of course debt can be restructured: its entirely false to claim that it will have to be repaid over the next 12 months.
In addition, the losses are not just keeping the company afloat: the development progress and value-creation this year has been very significant, and is clearly set out in CRCL's results statement yesterday.
The expected £3.6M. of near term FGS (flexible grid solutions) income could cover all debts, and with plenty left over.
And additionally, it would prove CRCL's FGS development business model, with an ongoing pipeline of opportunities to monetise.
With the income from these nicely funding CRCL's exciting battery metal projects.
Lareth, The information you provide has come as a complete surprise,NOT. This is a stock on the alternative investment market,they are all a punt.I view Corcel as a company with a lot of potential to multi bag. We have an m/cap of a mere £4 million. Our mines alone as they are and before development have a value in excess of £4 m That's before we look at the gas peaker and battery projects. Some of which are now nearing financial close which would catapult our current miserly share price to a new level. At 1 15p per share, the share price is already at bargain basement level and i see little downside from here,but massive potential upside. Everything on the aim is a risk as we are all aware but Corcel could just be in the right place at the right time as a developing battery storage company with mining assets to supply the ev batteries market. All just my view and different to yours. I'm assuming from the content of your post that your not invested in Corcel so why waste your time posting on it. As investors we,ve all done our research and have made an informed decision to invest. Jog on
Also on 12 May 2021, the Company announced that it had agreed a new loan note to provide £500,000 through an unsecured loan facility to be drawn down in 5 tranches. The loan plus a fixed coupon of 8% was to be payable upon maturity, which is 31 April 2022.
Discussion of Results
The Group incurred a loss of £1.227 million in the period ended 31 June 2021. Finance costs over the year fell to £0.065 million, reflecting interest and finance fees (2020: £0.247million). Overall, administrative costs increased slightly for the year to £1.014 million (2020: £0.838 million).
On top of all this £760k of long term debts have been transferred to the short term debt category which now stands at £883k.
Add £500k of new debts payable in May 2022 and annual admin costs of over £1M and Corcel are going to need it shareholders to cough up £2.4M over the next 12 months and thats just to stay afloat ,
This is of course the CRCL business model , leaving the new wave of mug-punting shareholders to desperately need one of these venture to come off before the dilution date .
Theres only one winner here and thats the guy who salary makes up most of the £1M admin costs.