George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Croc,thanks for clarification
Not sure if I am reading this thread right.
It is perfectly possible to release an announcement in 2 different time zones at the same time, an RNS can be set to be released to the market at any time.
The difficulty, as suggested, is that one market may be open, and the other closed, but the duty is to release any news as soon as practically possible.
Bank holidays in one market, or one being open and the other closed should not affect the release of price sensitive news.
All our recent price sensitive news (bar a couple of warrant exercises) have been released at 7am, no issue there with Canada market with all of those, so why should this be any different?
They would not announce any funding at an investor update either as this is not the correct forum to do so. It would need to be released to the market ahead of this - most likely in the same RNS as the AGN result, or a separate release.
There would not be a suspension (imo). There are hundreds of companies with dual listings in different jurisdictions/time zones, and suspensions are not a common thing, especially when it comes to something pretty straightforward as funding requirements.
Just my 2 pennies
It's purely speculation on my part, time will tell. Its just my gut feeling is a deal is done, subject to a change in the deferred payments, which require shareholder approval to admit the extra shares. The investor update is scheduled for 930am local time, so we will see at 530 tomorrow
But at least shareholders can buy/ sell their shares in either market as the shares have been fungible for several weeks now.
Good and interesting point.
Suspending dealing until Monday would not help, as Canadian markets are closed on Monday 2nd Aug.. It would be difficult to deal in London after the AGM finishes as it would be 5.30pm. It seems whichever market is open when an announcement is made has an advantage. So making an announcement when both are closed (and perhaps on a Friday evening) is perhaps preferable but still not ideal, as London would re-open before Toronto.
Should ask southwesterner he might know
If it was purely aim listed I would totally agree with you.
It's an interesting thing with the dual listing, that its generally impossible to make an announcement to both exchanges at the same time due to the time difference .
If they were to make an announcement to the TSX following the AGM, would they have to apply to AIM for a suspension until Monday?
CK
I think the critical thing will be the renegotiation of the deferred payments to Galena.If the resolution is passed at the AGM it will unblock the route to re-opening. Not sure funding for SC will also fall into place by close on Friday, but we will see. It would certainly be an appropriate forum to expand on the company's strategy for the future and give an update on financing possibilities.
I know nothing, but I have a feeling.
In February at the time of the AIM listing they said if tge tin price went to $25,000 they would look back towards crofty.
It's now over $35,000.
We've had an updated resource statement.
We've had the renegotiation of the deferred payments to Galena.
We've had securing the land access and mineral rights to the Roskears.
Tomorrow's AGM will presumably pass a resolution to enable share issues, which will enable tge deferred payments to be amended.
After that there is an investor update at 930 local time in vancouver, which would enable a funding announcement - but I could be completely wrong.....
Cuckoo cuckoo. .....
Probably lives in cuckoo land like another southerner I know but lets see
CK
Do Cornish leprauchauns have prophetic powers? What do you have in mind? News from drilling,other announcements, RNS, funding from the Levelling up fund, a bid................. a tie up with another Cornish miner... Can't wait..........
I think tomorrow evening could be a new dawn.... .
Dumpunter
Good observation about valuations. CUSN is sub £40m, whilst EMH is £150m+
Totally agree with Vii a 10 bagger
Good to know that Vii and CornishK did not counter with a negative. Thank you for taking my post seriously.
The interesting part as a holder for me was brought up again buy the ceo. The tin & copper are by historical terms there for all to see.
I am also investing. Investing in what could be a huge lithium supply for the UK ( note uk when compared to Oz super mines Kali and Pilbara ). To have even a chance of cheap shares on issue or even freebies +++ royalties etc mean as an investor we have a loaded deck in our favour ?
I am extremely happy at this point in time.
Any thoughts on North Bodmin ? This IS when I buy £100,000 sub £1.00. CUSN or spin off could well be in excess of this if my reserach is correct. Very much like South Cinovic is pay day and the further North towards the German border becomes weak as depth increaes.
Bodmin North East is my choice and it should be the UK Gov's too to get Lithium.
The share price at present is at a huge discount to broker valuations. The latest Hannam, valued the shares at 22.2p.
But hang on, that 22.2p was on the basis of taking less than 50% of the NPV of the SC and UD projects. And those NPV's were calculated using way out of date tin prices i.e. too low.
Then you have the potential of all the ore which is not taken into account in the NPV calculations. Indicated and Inferred at SC totalled approx 4 m tonnes, but RW estimates that SC could hold 20m tonnes. The upside on these shares is massive if all goes reasonably well. So, my advice is, if there is a bid, don't rush to accept/cash in a significant profit unless you know of another investment that has a very good chance of being a 10 bagger.
For the majors to come back to Cornwall would certainly be interesting. In the past Rio owned South Crofty, Pendarves and Wheal Jane. Billiton (BHP) owned Mount Wellington. Generally they moved away from smaller mines to super mines, which is why there are no Major owned tin assets.
BHP are also trying to diversify into ‘greener’ areas
. See article below.
http://epaper.nationalpost.com/article/281930251015091
I watch Cinovec mine developments in Czech very closely as it is a for runner for Cornish Lithiums predictions/reports and leading to JORC.
I mainly get information regarding mine progress of Cinovec and their gossip from the emh forum here.
There is talk that Rio Tinto are looking around to begin to pick of duristictions of safe government and 'metals' assets, which has appeared over there.
Would there be a possibility that a mining major may pick off Cornish Metals and private Cornish Lithium considering most of the permit work is done and the brine carbon foorprint ( comparrison to Standard Lithium & Vulcan Resources ) will be low , allowing for most new technology adaptions on plant footprint and waste etc to come in at similar levels ?
To an amateur investor like I am , if I was looking round the world Cornwall has progressed over the last decade , is mainly pro and proactive for mining , employment and infrastructure improvements, so why would I not offer to buy both out ?
An interesting question that I can't seem to put aside ?
I have been thinking this for a few months now, but with Rio coming out this week and suggesting increasing investments in metals , it has turned me back once again to why would you not try ?
Either way I am in and upwards of £15,000+ so I am in.
Happy for Cornish Lithium to spin out and take my cut too.
Taken out by a major takes some if the fun away, but I will profit well from any deal, the metals are there at fantastic grades across Cornwall, no doubt in my mind.