Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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.... holders are already in here. Very few will be shaken out of CMET until at least the next RNS and some, like me, will only be trimming at perhaps 10p then again at perhaps 20p, holding the rest for nothing. So we are sticky holders, which won't
make it easy for newbies to jump on board. The firmness at present is recognition of this.
Some lovely buys today. Let’s hope for the news we’ve all been dreaming of early next week.
Nice to close at 5p
Have a feeling it's probably speculative short term longs coming in ahead of JV/offtake announcement, in the near future...whatever date that may be.
Let's see what the volume looks like at the end of the day.
Yes, nice bit of Friday morning action. I wonder if a few have read through the 121 review and seen the potential here.
Nice bit of buying. And Bluee...
Indeed a very good summary and clearly a highly prospective investment with low risk and plenty of upside.
Nicely summarised
https://www.weare121.com/121mininginvestment-london/capital-metals/
@smkr lol, very true.
BUT it would appear CMET board did not like the terms presented last year. (pure conjecture on my part)
Whilst I don’t disagree the resource should (and will) be expanded, I think LB Group might be a big enough “big boy” for us 😆
The big boys don't sign deals on hopes m dreams, they need defined JORC deposits - I'm not disagreeing the JORC should increase exponentially going forward, but as I've been saying for years like the preverbal broken record, they need to drill/explore more, then you can expand the resource.
I know they've finally put those plans into actions and I eagerly await the results. As I'm sure we all do.
Since completing a strategic placing with ASX listed Sheffield Resources Ltd and advancing talks with strategic investors to fund the project to production for a 50% stake at the project-level, interest in the company has been overwhelming. Every meeting slot with the chairman, who will be talking to investors across both days at 121, was booked out 2 weeks in advance!
https://www.linkedin.com/posts/capitalmetals_srilanka-ilmenite-rutile-activity-7194214527993864192-zLO9?utm_source=share&utm_medium=member_desktop
Re Funding: RNS 12/05/22
"· The staged development approach means that the funding requirement is $37.3m until the Project is self-funding compared to the total development capex of $81m"
In the Crux interview (@24:35), GM also refers to other opportunities in Sri Lanka, but recognises the current project needs to be progressed. Taking a very positive view, perhaps his attendance at the conference is being used to showcase the company's capabilities and opportunities in Sri Lanka.
Without doubt, there are some uncertainties, but this could also be a very significant opportunity. The resource is there, and the outcome of the impending drilling campaign should be positive.
The final JORC should be an order of magnitude greater than what's currently on paper. A corrupt SL official tried to steal our MLs remember?
Important point is the resource is tiny in comparison to many mineral sands projects and simply won't attract interest from the likes of Kenmare/Rio with the current JORC.
Potential issues with LB & Sheffield:
> LB may want everything but at unattractive terms
> Sheffield may justt not be in a position to provide that amount of finance on their own to secure the deal. it's one thing to aquire 10-14% of a company with this market cap quite another to stump up $81m in financing.
Hopefully will be resolved, but as I said it's not done until it's signed, and JV/offtake contracts can take forever with lawyers/tax consultants arguing clause by clause.
CMET will have many of these corporate types on speed dial. I can't imagine it has anything to do with the deal. We are already 5 months late on the original deadline for the JV with LB. Another similar delay would be unexpected and ridiculous.
CMET needs to close the deal with SR or LB. If neither company concludes a deal, then clearly something isn't right in the background. We don't want to go through another round of funding discussions with new parties because that will likely delay everything by another 6 months.
Hopefully the existing parties will come through and sign. Either way, CMET will need to update the market next week?
I wouldn’t read too much into it. It’s common for small explorers/miners to attend these things. It raises awareness and helps builds contacts/connections. There’s like 80 companies registered or something..
If it’s LB then they will take 100% offtake and I don’t see this event as that kind of meeting space (not really the way offtake deals get done at these types of event either in my experience) I see this as positive though that they are looking for the next level of investor, funds etc to grow the business.
I see this as a positive sign that they are looking at production and possibly the resource expansion and development. What do people here think?
The conference has City investors but also the consumers of metal products such as automotive OEMs. It's probably deals relating to production.
I hope this is a good news signal and not the start of them renegotiating…
As I understand it, regardless of who wins (if there is a race at all here, which I doubt), they get 50% of the project, with CMET owning the other 50%. Whatever shareholding they have in CMET is separate and in addition to this.
Sheffield might well hold all the aces here and low ball CMET in the long run?