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Mr Frayne?! Is he back lol
Agreed. What gets me is the simplicity of mining, and then the resource expansion opportunities. With the right backing coming alongside, we’ve got a company which is primed to provide strong returns.
The question of dilution sits as a omni-present concern with AIM businesses, but in this case I think the reticence to take the LB deal previously shows that Mr Frayne has his head screwed on properly and is looking for value on any agreement. CMET is in the driving seat now!
.....story here. Stick like glue to these. Can see double digits when the story breaks.
Cheers SEBO, thats me not sleeping.....just another thing to worry about.
Please refrain from ruining my dream. thanks lol
After the RNS yesterday it feels imminent that we will hear about the JV announcement.
You’d assume Sheffield have already completed most of, if not all of the DD given they’ve up their stake to 14% , so hopefully we will hear very soon and we can all look forward to moving into production.
I doubt that you're a novice investor with 5M shares. Either that or you have very significant savings that you're willing to gamble. Let's hope we don't get diluted to fractions of what we hoped for. I've been diluted out of a stock before, not a nice feeling.
Good morning Paul, how many millions? do you think we will get invited to the Christmas party?
im a single digits millions, just got 5M but together we can get a seat on the board, or at least be invited to take part in their secret Santa this year.
its fine, im hoping to retire on this.....whereas 1 month ago i was crying into my cornflakes about working until i was 105 years old. lol
good luck everyone.
There has never been any mention of it, lets face it they had the chance of a 50/50 JV for $80m - $100m up front costs payment, that could be potentially worth $300m - $1bn depending if we can increase the resource.
I think they may look back in a few years and really regret dragging their heels late 2023. Sheffield has really thrown the cat among the pigeons now with their move and equity purchase.
All looking good for us share holders now.
I am jealous of the guys here who say they have holdings in the millions of shares, some may be retiring in 18-24 months hopefully!!
Just a logic check: would LB have to match up their percentage ownership to Sheffield? I don’t think so but something is in my mind that they’ll insist that it must be equitable.
It’s maybe that’s because I’m giving LB some ‘first mover credit’ and so figure they’d insist on being in on an equal footing.
I think the potential for increasing the resources is off the scale Catbert. Together with the grades and the positive turn in the political risk, (with the LTH picking up the tab) they will be drooling all over this. Just needs to double and I will be breaking even!
It's looking better by the day here. When this funding lands.. from one or the other.. the journey begins. Gl all.
My money is on Sheffield too. They have a decent resource and a fairly good Aussie business however they must be looking at projects such as Pitfield and thinking that if a viable economic processing route is concieved there then their own business model could be subject to a serious economic challenge within the midterm.
CMET has a very high grade deposit (off the scale compared to Sheffield's resource) with a reasonable expectation that the resource can be expanded. The processing route is simple and there is port infrastructure nearby.
Sheffield might be a very good partner. Plenty of expertise and lots of motivation to get this done. The strong card here is the resource quality. If it can be expanded even better.
After that holdings RNS, my money is on Sheffield. They've got shares in the company and will potentially have a 50% stake on future profits when this company starts producing.
I know you do. I hope that these bloody things make you rich :-) Forgive my tongue in cheek comment. I take it back.
@gazal I can assure I have millions of these bloody things, not as many millions as I used to have, that's true but still a significant holding.
Me thinks that Paul is negative when he's dumped a few. Just my opinion.
It looks that way DSJ. 34.5m in placing and 17.2m option. Must have taken it out via cfd or something ahead of issued shares?? not sure how that works
For the amount of emotional investment here, I really do hope that we get our fair rewards for hanging in there during those hardest days when we were sitting at 1.06p 😬😂
@JF - haha, yeah I hope so.
Oh come on Paul, I know you are a jaded long term holder (like myself) but come on. You're bordering on conspiracy theories now. Next you'll be wearing a tin foil hat!
Am I reading this correct, that Sheffield have purchased the other 17.25m shares which they were given option to purchase in the RNS on the 15th of march?
I'm actually a little concerned that this might get taken out for very little premium, depending on where the other HNIs (that are all aussies) have interests - if they're significant shareholders in Sheffield, then UK retail could get royally sc...ed here.
I hope I'm just going down an Anodoman-esq anxiety hole here, rather than this could represent the ultimate scenario
Total holding now 14.77%. I assume the other co will shortly disclose similarly and the terms will follow.
Looks like we are perhaps days away from real advances by CMET in Sri Lanka.
10% TR1
It is indeed a liquidity (test) algorithm. You see this across the market in thinly traded stocks.