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If CMET comes out of the blocks at £100M that's a big step up from where we currently are. I think that the next six months could be massive. The resource is hugely underestimated but that will soon change.
Sorry for clarity when I said business I meant the JV not full CMET. Very exciting though.. plus with offtake 100% guaranteed then can be confident in revenue forecast (which is massive in my view).
RNS on Monday?
The deal would in effect value CMET at £200M off the bat. That will give a big boost to our SP. But with huge resource expansion potential and further licences ahead, we could be up a £1B by the time production starts. Does seem like an explosion.
It's not 40% of the company.
It's 40% LB and 10% Sheffield and 50% cmet of the income from this project.
The others are paying money for a slice of our licences to mine for 10+ years with projected income of £££ millions.
Why would there be a placing when it’s CMET who is selling stake and looking for something. LB are saying we will give you 80m in effect for 40% of the business.. which is all the capex required by reading of it. So that’s the transaction perimeters.
Where do people see the Sp starting once announced? Feel like it’s one of those you have (or had?!) to be in it pre news
So how will CMET award LB 40% of the company? It’s going to have to be a massive placing, surely?
....3 weeks left of the original 90 days, if my calcs are correct. C'mon you bluddy lawyers - ink it in!!
There is no error.
Think about what exclusive or exclusivity means.....
How can you possibly give "EXCLUSIVITY" to more than one person or group unless they are in collusion.
Could be the original MOU? We don't know whether they made a small error when referring to CMET. We should know very soon though.
From what I can make out TSL is just in the same industry, no connection other than that. That said, I did find an earlier investment note where TSL talk about CMET and that was relayed to the MoU with LB Group.
The date of the announcement from TSL struck me , given it was 16th of April 2024, as did the 40% equity share as all previous talk has been about a 50/50 joint venture… so either they’re making stuff up and including it in an investor note on ASX or they know it’s happened.
Fingers crossed it has happened and we start to see the SP rise.
Xel, Here’s hoping!
On what waiting for I would guess it’s contract drafting, final legal reviews and process without knowing what stage ie is it heads of terms agreed.
Again all my thinking so those with more knowledge and history in Cmet please correct me.
Onetimepost!
Exact same thoughts
I started to read it that way (and it might still be) but what stood out for me was the announcement was from 16th April this year .. 2023 mou doesn’t strike me as recent (my take) and also the 40% share to pay for capex which I don’t think ever seen mentioned before - plus this would line up with the 10% that SR currently own of CMET..
Aren't they just talking about the original MoU that CMET agreed with LB? I don't think its anything more than that
Onetimepost,
Completely missed that. Thank you.
Well, based on that LB has agreed yerms with CMET.
What we waiting for now ?
What is the connection between TSL and Shefield ?
Xel, if you look further down the asx announcement from the company on this raise includes a small paragraph about CMET.. this DSj posted latest link..
This project is worth up to $2 billions
This tells us the potential size of the our asset would be.
Found this
https://stockhead.com.au/resources/titanium-sands-just-got-land-access-for-its-2-billion-mannar-island-heavy-minerals-project/
Looks like fund raised for the above project and nothing to do with CMET. I may be wrong
My own view if this is the actual deal is for CMET they have stuck to the proposed 50% figure (during jv/acquisitions these % are often up for negotiation) which would give strong position for future phases, plus think it’s shrewd from SR.. for them to raise 80million vs their market cap would be fairly challenging given I’d assume it would be project financed.. not to say undoable.. but with LB paying all capex they efficient get a free carry in world class project for purely investing into CMET.. just my take
As Fusion_Trader mentions... https://www.listcorp.com/asx/tsl/titanium-sands-limited/news/placement-3019672.html this seems to suggest a deal has been done, but not announced, with LB taking 40%, SR having 10% etc...
This seems a little odd to me, so going to do some research but I really hope this is accurate
Plus I’d suspect whilst Sheffield may not be entirely happy, I’d expect LB will have stronger financing options given size etc and Sheffield may be happy to be involved to some degree.. just musing now but seems like could be about to get interesting.
Potentially have been over egged, feel they will talk to each other though being in close proximity which could give some substance to it.. Titanium only announced few days ago too.. plus maybe like ando suggested, LB have maybe agreed terms and are stating it’s time sensitive..
15/3 RNS stated:
Pursuant to the Sheffield Investment, Capital Metals has granted Sheffield co-exclusivity with LB Group (002601:SHENZHEN) for either party to conclude a transaction within 60 days to provide funding to support the development of the Project into production in exchange for up to a 50% interest in the Project.
I just don’t see Sheffield being satisfied with 10% - so I would think that titanium sands have rather over egged the interpretation of ‘agreed’! In principle maybe, but not signed off and that exclusivity agreement is now fair game. Though if it did value us at £200m, I’ll take the 13x ROI on current sp!