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Not sure how he knows that but I’m sure all will be revealed in due course.
Open price after suspension lifted will be circa similar price at time of suspension.
Priced to go/price to rise is only subject to new information being released to the market shortly thereafter I assume.
CML might be sitting on a good resource but as I said previously these mining sector shares can take time to come to full fruition.
Raising further capital will be necessary to explore whole area then obtaining licences and putting the infrastructure in place to mine etc.....
Could be a mid to long term investment now so you may see the traders/short termers run for the doors when the suspension is lifted.
Here’s hoping it spikes straight away in 2021.
ATB
Priced to rise...in the correct space
Thanks for that Dan.
Noticed Doc’s response saying “priced to go”.
What exactly does he mean by that, do you know ?
ATB
Appears we have some developments... see the below, not a lot of info but very recent which suggests progress being made, right?
https://find-and-update.company-information.service.gov.uk/company/12932089/filing-history
Guypie, with respect how would Airborne know ?
PI’s are not privy to that sort of info.
RNS stated in or before December so anytime now really, fasten your seatbelt !
Do you think we will see this back on the market before the new year Airborne?
Something to tickle the appetite would be great. The agreement must have passed in CML for the deal and therefore we should have an update soon.
So December next week. Here is hoping it will be a news rich period! GLA!
....expect some paperwork before the meeting to approve, assuming all going to plan. KLK are a super co whose history goes back a long way. Don't be rushed into a fast buck. They know what they are doing!
This was from the RNS which they were subsequently pulled up on...
"That completion of the Proposed Acquisition is conditional, amongst other things, on (i) the passing of resolutions at a general meeting to be convened by the Company, to approve : the Proposed Acquisition, a 20:1 share consolidation, and a placing of new ordinary shares ("Placing Shares") in the Company ("the Placing"); and (ii) admission of the Placing Shares and Consideration Shares to trading on AIM ("Admission") becoming effective on or before 31 March 2021 (although the Directors anticipate this will occur in or before December 2020)."
So could even be before the end of the month...
Wish they would hurry up either way here
RNS states “in or before December 2020”
Could be a delay with face-to-face meetings currently prohibited but would be lovely to get a Brucey Bonus before xmas.
Worst case scenario, SP opens up at equivalent level post consolidation and then we are all locked in whilst CML gets the licences approved and proves up the resource sufficient enough for us to bail with our initial stake back !
Well we had the RTO on the 21st of October. The Stick says this will be trading again 31st Match. The carrot/directors say the deal will be done and back trading in december.
I have no idea, but would love for it to happen for Xmas....
I hear you about the conundrum about timelines and the sector. I’ve been trying to find a gauge on how quick CML will be in business. It’s definitely a scalable business and they’re not exactly having to deep caste mine the sands. Harbour has just been cleared of wind blown sand and so shipping out material will be back on track. I think it’s going to be an interesting few days when it reopens on the market. Fingers crossed for us all.
Hi all,
Heard Rachel Riley has crunched all these numbers quoted in the last RNS and still not been able to come up with a potential starting SP when the suspension is lifted.
Stating the obvious but this will all be bout the starting SP before people decide to bail or stick around.
These mining companies are generally long term and alot of PI’s are not in it for the long term. Quick short term profit then move on.
I was in SOLG for years before it took a natural progression upwards from exploration, discovery of resource, JORC estimate etc..... and that’s still ongoing now as they’ve unearthed a monster in South America.
Could be similar route for CML here (albeit on smaller scale) as they still have plenty of exploration still to do. This will ultimately need further funding and further licensing, all of which takes time.
The SP suspension price was way below what KLK are in at so they must be confident CML can do the business. Only concern is the timescale as said. Saw a video on Youtube from CML from November 2017. We are now 3 years on and they have still not proved the full resource up.
Hopefully get a nice surprise in next few weeks but PI’s who are not interested in the mining sector will bail and move on I rec.
ATB
On Barclays it shows suspended and on a loss so I think I need to change share platform lol
Tried to hit sell on lloyds but it says you can only execute by phone haha
its driving me nuts, my £2500 buy is still showing to be worth £358,000... what a dream that would be hahaaa
haha, mine says 0.77 on HL - wouldnt trust HL further than you can throw it at the moment thought, been crashing daily and theyre fiddeling in the background. 77p would be nice though.
same on lloyds... thought i'd cleared me mortgage ??@$$holes!!
On II it’s showing as worth zero - take that for a kick in the knackers!!!
Sooner it returns the better for my emotional well-being! Four weeks and counting for RTO to demonstrate progress.
I'm on Barclays. Still showing 0.75p here.
I have the same thing! had a massive shock when I saw my Halifax account this morning
My holding with Halifax is showing a massive profit as PAL is showing at 77p not 0.77, not sure what to do now, don't even know how it's come about, anybody else got the same problem?
I did spend a bit of time researching a bit more about CML and the project in Sri Lanka. In 2018/19, Mila Resources Ltd were attempting/negotiating to acquire 100% of CML, but it did not complete by “mutual agreement”. There are some pdfs online about the background work by Mila.
CML has incorporation on Companies House as of 6th October 2020 with only MF listed as an Officer at present - presumably in preparation for the RTO. The Mila documentation said that the company was registered in 2018/19 in the British Virgin Islands.
There is some information available about the two private Sri Lankan subsidiary firms Damsila Exports (Pvt) Limited (they have a website) and Eastern Minerals Limited (there is a facebook page EasternMineralsProject). Looks like there was some local resistance to the project, at least in 2018 (Movement for Land and Agricultural Reform website – “Damsila Exports Pvt. Ltd is planning to commence a mineral sands extraction operation in the eastern coast, stretching from Komari to Akkareipattu. The project area spans across three divisional secretariats, Alayadiwembu, Thirukkovil and Pottuvil, in Ampara District”). Presumably the company has been working on ameliorating any concerns via the Environmental Impact Assessment in progress.
There is a Sri Lankan website (Geological Survey and Mine Bureau) which lists Industrial Mining Licenses, which they need. At present, I can’t find a granted license listed, thought the RNS says that DEL has applied.
Available info suggests the deposits are richer/higher yield than average for mineral sands.
Agree there may be more price-sensitive (positive) info that will come in due course.