The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Https://hotcopper.com.au/asx/sfx/?keywords=SFX Worth keeping an eye on Sheffield, they have a market cap 10 times bigger than us, and they might announce something before us.
Cheers Paul,
So my view would be whilst the 4.7% (guessing it’s via Roman Resource pty Ltd?) increases their stake this is via a different entity so any JV discussions would only account for the 10% of SR direct holding .. think it’s great we are having these discussions with two strong potential partners
We are clearly waiting for news on a deal. Many here would like to see LB involved but we shall see.
Hopefully, the Aircore and Sonic drilling programmes referenced in the 21/03/24 Project Development Update are progressing and these produce an increase in the Proven Reserve; to quote the RNS:
"Accordingly, a substantial resource increase is anticipated from this initial work programme, which is expected to subsequently motivate further resource confirmation and exploration activity."
Rns dated Match 25th
https://www.lse.co.uk/rns/CMET/holdings-in-company-hlwf77wuqsgx59p.html
I think that Sheffield has an option to buy more, but I'm only aware of the 10% that they currently own. For all we know, Sheffield bought the 10% to pressure LB and improve the terms of the MOU. We might know very soon either way.
From company website
Name - percentage - date last notified:
Sheffield Resources Limited 10% 21 March 2024
Bart Properties Pty Limited 9.5% 3 January 2024
Brent Holdings Limited 8% 3 January 2024
Roman Resource pty Ltd. 4.7% 3 January 2024
Spreadex Limited 4.5% 25 March 2024
Cantor Fitzgerald Europe 4.5% 11 April 2024
Stanton Investment Limited. 4.1% 9 January 2024
KL-Kepong International Limited 3.8% 19 December 2023
Exciting to see what will happen here though either way, waiting game but we all hope the confidence is there. Good luck all
Is there a link to the 14.77% SR share? I can only seem to see 10% (and on website)
Also how does info like that work when it’s on different exchange ASX vs AIM and wouldn’t presume they have purchased any stake etc?
I do agree with jtis, that it’s a matter of when, not if. Sheffield purchasing a further 10% a few weeks ago was the deal breaker of confidence in this for me. They wouldn’t have invested to such a degree without being fairly certain that a jv was happening very soon. We’ll find out in the next 3 weeks. Hopefully Monday.
Sheffield hold 14.77%
it's in an RNS
It's a matter of when , not if
Surely, Sheffield would not have taken a 10% stake without doing due diligence.
Interesting exchange. I find it very hard to believe that TSL would have issued a public report stating that Cmet had done a deal, when Cmet haven't announced it. TSL would be in big trouble with the stock exchange, and this type of misstep is normally prevented by advisors who check every report and stock exchange statement.
I can only assume that TSL are getting confused with the original proposed LB deal from last year.
Would be very happy to be proved wrong... :-)
I never count my chickens with any stock until deals are done etc BUT this one does have strong potential and possibility of opening a lot higher once deal is announced and as Ando has mentioned previously could continue to rise like EUA did a few years back.. 12 months construction is very short so to be in early with a company growing is the ideal scenario.
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.