London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I’d be amazed if the BLOE sale would save us from a future placing. We do manage out cash very carefully but the sale raised just under £50k which is helpful but not sufficient to begin production even on a contracted out basis. It’d be worth us having cash in the bank so that we can negotiate any off-take agreements from a stronger position than we otherwise would if we were just “running on fumes”.
Anyway, we’re almost there after nearly 20 years.
Ok, I see where you’re coming from now.
My belief is that we already benefit from the short term economies of scale.
I agree that both companies have some fantastic prospects which is down to PC’s ability to spot trends in the hard commodities markets. If TYM can get the permitting issue in Sweden resolved I’d add to my position but until they do I’ll stick with the small holding that I have left after having off-loaded most of it into the Possehl spike.
Speaking with just my SRES shareholder hat on, I wouldn’t want TYM draining SRES’s resources but I could see a point in future where, once the CS Pozzolan-Perlite Project is financially viable, it is spun out as a separate company with the remaining prospects either being “sold” back to TYM or otherwise disposed of.
I don’t see mineral exploration companies and ore producers as easy bedfellows as the cash generated by the producer would likely be drained away chasing the next big thing. Once SRES begins producing I’d like to see cash returned to shareholders as soon as is feasible.
@987 -short term economies of scale and longer term,to use cash from the first successful project,to finance others as both cos have some fantastic prospects.It could end up as a big multi ore group
Hi 987, good day to you too sir and perhaps we can share a cuppa again at next year's AGM/s. Maybe I will stay for the TYM one too next time if something good happens there!
Nice to see a little good natured dialogue here about TYM/SRES. I was going to add more to the debate but actually am more than happy to just wait and see what happens.
The more important debate here right now for SRES is what is the status of our funds, what do we need to get things going and how might we get those funds. As I said before I previously asked PC about this and he said all options would be looked at and that these might not just be placing/s. Also he has said we can start mining with 'very little' in terms of Capital funds (re-listen to last Proactive interview - it is all there towards the end) so I am not too stressed on this. I believe the BLOE sale is to tide us over / enable us to reach a point where we perhaps get Permit and Offtakes then those other options open up.
Ok so it was cricket and Tennis last weekend but all about the Golf for me now - enjoy the weekend all.
Why do you think that bringing SRES and TYM together would make commercial sense?
On the subject of SRES and TYM getting together, are people aware that SRES was spun out of TYM in 2007? It wasn’t called Sunrise Resources back then, it was called Sunrise Diamonds and had the ticker SDS.
As a shareholder in both TYM and SRES (and once upon a time SDS) since 2001 and having attended numerous AGMs including one in a meeting room at Manchester Airport back in the day I have a reasonably long term perspective on both companies.
Although this is the SRES board it would be useful to give an overview of TYM to show how we got to this point so...
TYM started by looking for Tantalum which had applications in electronics amongst other things. They had discovered deposits in Scandinavia. They then staked a claim on a massive deposit in Ghurayyah, Saudi Arabia which looked to be a company maker. A JV was set up with a Saudi Arabian company. Shortly afterwards it was discovered that as well as tantalum and niobium, there was also uranium. Quite a treasure trove which meant that all of a sudden the Saudis weren’t quite so keen about giving out a permit. The shares were suspended for a while.
Eventually the suspension was lifted but the plan to build the company around tantalum required a rethink as the Scandinavian deposits weren’t of sufficient size at the prevailing price.
There were other projects that TYM had in the locker and including industrial diamonds, again in Scandinavia. Sunrise Diamonds PLC began life on 9th February 2007.
Tertiary Minerals then latched onto the growing demand for fluorspar and identified various projects and the Swedish project looked to be another company maker (and possibly still could be). This project is in stasis at present due to... permitting issues. This is extremely frustrating because they had gone as far as agreeing an MOU with Possehl for an Offtake Agreement. IF the permitting issue ever gets resolved then TYM would be worth some serious due diligence - fluorspar is a very important industrial mineral and world supply is constrained.
Back to Sunrise then. Eventually Sunrise Diamonds became Sunrise Resources as the company diversified away from diamonds to spread risk. At one point about 5 years ago, the Bay State silver project was one of the leading lights but this floundered due to drilling difficulties. Then came County Line diatomite project - anyone remember EP Minerals?
To bring us up to date we have the pozzolan projects which have expanded to include perlite. As far as I can see, this is the furthest we’ve ever got bringing a project to fruition and I’m extremely optimistic.
Both TYM and SRES are legal entities in their own right, the composition of their boards is different although PC chairs both and Colin Fitch is the Company Secretary for both. At an operational level the two companies work closely and share resources already so I’m not really sure what bringing them further together would achieve.
Finally, hello to Dubliner.
Morning all. Some good views chaps. Would this make any sense? Could it be possible? What if TYM had a fund raiser and used the money to invest in SRES via a placing. Surely that would raise both companies share price? Im sure it would give the market a lot of faith in the CS Project too. Not sure on legalities but sounds good to me lol
Hi Dubs,i suggested the same thing two years ago and got rubbished.I still think that it would make commercial sense.GLA
Hi Rodster. As an investor in both I have given it a lot of thought and alluded to this even in my last post where I said TYM are distressed sellers. As you know we share an office and staff with them but they are nominally the landlord. Instead of money we pay those 'bills' is SRES shares which works for us. I believe we pay TYM in cash for PC's services.
Neither Company has any real income right now. Both have done placings in the past but as we know the S.P of both is rock bottom and I guess placing right now is not the best way to raise funds.
As we know SRES even recently sold their BLOE shares to raise working Capital for the CS project.
For TYM who hold quite a few shares in SRES then the only alternative to a placing is to sell their SRES shares. We know from previous results RNSs that they sold shares in SRES on the open market and I believe they have been drip selling these over several months. This has weakened our S.P.
This somewhat incestuous relationship does feel odd but ultimately each Company is doing the best it can on a shoestring budget to progress their prospects. PC is the guy driving both shows and personally I have no issue in him buying the shares from TYM at market rate.
For a long time I have said that I could see logic in these Companies 'coming together' but where previously TYM was the larger Company now SRES has the larger MCAP and is closer to a project startup that should earn good income. TYMs main prospects all now Nevada focussed too!
I actually said this (tie up one day) to Richard Clemmey at the SRES AGM but he looked at me like I had just propositioned his wife and said they are completely separate Businesses. If there ever is some kind of tie up then I will enjoy reminding Mr Clemmey of that conversation - SRES AGM Feb 2019.
What are others thoughts on all this.
Nobody has asked themselves about last rns. Why would pc but tym shares at rock bottom. Is that not very off. Why not but on open market. Is tym goosed, will they join up with us, what about placongs. I can't believe that no questions have been asked about recent pc purchase.
care to explain more pepematinez or just a random ramp?
Going to 0.20 area again
There no where to be found because they like al us don’t post on good news when it comes out the blue?? just when there de ramping the sp or dissing pc... same thing really as to dis him is also de ramping
Where's safetraitor and bottyman today. You been on at pc for ages to buy shares and now he's bought. Surely, you can both turn up today and give him a big thank you for giving us all confidence that the project is a winner.
Mixed emotions on this one. Firstly it shows pc is dead sure we will go well on this project but i hate it how the sp has been allowed to drop for him to purchase. Just shows that directors control the sp with the mms together. Shame for us pi's