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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.
Your broker might to cover fees. Mine does as I often hold little cash on my shares ISA.
It must be some sort of algorithm or a MM ploy to test the waters, because seriously .....who sells £20 worth of shares ????
Nobody does that, it's something else
People sell because they see another rainbow. No to worry.
😆 I'm cool buddy, calm before the storm. Not worried at all. Just questioning the logic of selling any shares at all at this pivotal time.
It's Andoman, if someone sells 5 shares he gets in a panic.
No one is selling in big numbers , last 2 were £20.00 worth of transactions. Hardly anyone selling
I’ve been trying to get my head around as well! Personally I expected the SP to rise to around 5p given the positive news we’ve had and yet people are still selling.
Why not wait? It’s less than 60days now before we hear an update on the DD, hopefully with Sheffield or LB or both moving ahead to fund the project.
Everyone has their own reasons for selling but it feels like it’s just about to take off, so why sell now?!
I don't understand the sellers, especially the timing of selling..FFS, we only have to wait about 6 weeks maximum. This is NOT going anywhere but up, up, up and away . Who recruits employees for a business going nowhere, informal discussions have definitely been taking place. HR manager?? Why
Geologist , why
Because we are increasing the team and preparing for additional data on other resources
Higher than here Adam 😀
I guess a lot depends on wider market. There’s not been much appetite for risk this last 12 / 18 month. But derisking this with a funding partner might set people thinking again, and realising the scale of what’s on offer