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XEL: LB offtake - yes that's good to see, afterall CMET still need to sell their 50% share of production
Yes that's what I mean - have far down the development road are we now going on a fully-funded basis. Last year we saw they were pushing for the full development with LB, giving up a lot to get it - clearly wasn't palatable.
SO now what are the terms for this proposal - I agree it's unlikely to be the $81m as I just don't think Sheff can afford to do that - so now we're giving up 50% to go how far down that road?
I don't want to prejudge until we know the exact details but obviously as dose of commercial realism has hit CMET board since the MF days .
Look I don't think this is bad news, I just don't know how good it is...Happy though at least we have an RNS and clarification.
PaulFG
Great news 👏
You have any idea why they have to continue with LB
"The Company will remain in discussions with LB Group regarding potential offtake arrangements."
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"
I haven't seen anything that would change the position, although the actual requirements may have changed since 2022.
They don't need $81m though
I’m happy with Sheffield. They’ve seemed far more proactive, and of course probably down to Bruce Griffin. Bring on production
https://www.australianmining.com.au/first-bulk-thunderbird-shipment-takes-flight/
So at least we seem to have a preferred partner - but will have to wait until end of May before concluded - hopefully it will be.
Am more comfortable with a non-Chinese partner if I'm honest looking at the geopolitical situation and possible future scenarios. My niggling concern is whether or how Sheffield has the ability/going to raise the funds to make this happen - £81m is a serious chunk of changed for them - so I'm interested to see the final terms and if in fact it goes as far as we've been previously told.
SO I'm tentatively happy, but we're still not done.
At least we're in another exclusive period...
Guesses on SP movement today?? think it will go??
CMET arent leaky. hahaha thats why we had 2.5M shares traded yesterday.
Yes and I guess most investors preferred partner. Bring on the end of the month.
Sheffield got it
It will be the last day of the 60 day countdown. Surely, news is hours away...great news.
Would also presume that Greg coming over to London for an investor event signals that everything is on track (if not I’d guess they would be locked in the boardroom attempting to thrash it out) . Hopefully exciting few weeks
True but CMET does produce updates on progress so far. I assume that the 60 days deadline is more or less intact. Management wouldn't accept a takeout deal for anything less than 50p+. Seriously, they have stated what they think the fair value is. Even that is a gross underestimate given the size of the resource.
...and do not panic. ANY major change HAS to be reported as an RNS. So no major change for now. I can see this either being a take out at 10p minimum or getting there for a starter once the RNS appears. Most of us only get one or two big baggers in our lifetime. Glue your index fingers together if you have to for now!!!
I think if talks had broken down, we would have heard by now. The longer it takes, the more I'm inclined to believe the outcome will be positive. They might need more time to get the paperwork over the line, and I agree with PFG that if that is the case, it would be good to get an interim update unless the definitive update will be ready by month end (at the latest).
@bonkers - you're absolutely correct it's the deadline of the 60 day exclusivity agreement ONLY.
hmmm, have I mentioned that before? lol
But it's obviously the date they've been working towards, for me if the agreement isn't actually concluded for a another few weeks thereafter it's no big deal, but if they don't meet the deadline - for the sake of other holders pinning all their hopes on that deadline, I hope the company will issue some sort of clarifying RNS, unless they envisage concluding the agreement in short order.
PaulFG are you sure 15th is a deadline , I jist thought it was when the exclusivity period ends.
Looks like Zak agrees:
https://zakstraderscafe.com/bulletin-board-heroes-may-12/9368/
Fingers crossed - anticipation building, fantastic if they can meet the May 15th deadline.
Here it goes, news this week on which partner they've chosen?
Let’s hope so LW, hopefully the JV is announced this week and we can crack on with the production and further exploration
Spread is very tight and Bid is at the highest its been for a while. Looks as if it might be readying to breakout into news. Let's hope so and GLA.
Doc holiday was talking cmet up back in Jan 2021 https://www.youtube.com/live/dITjMQ8hRMw?feature=shared
Worth another listen starts about 11mins towards the end talks about valuations even back thrn
The MMs will take care of that. Firm holders will make the share price shoot up faster. We'll do £60M in no time. Some people will sell along the way but no reason for the share price not to go x7. Seen it happen before with far less promising shares. Hold on to your hats and don't sell unless you have to.