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Furthermore, Gordon has already visited the Molulu mine and has an early understanding of the first actions that need to begin in order to maximise its potential."
Actually sell some product I’d of thought.
Smart money is coming here soon..
Next 60 days we should get confirmation of road works finished and ore being transported once again for sales to commence.
Revenue generating company this year!
It does beg the question, if a new road brings more traffic then how do they stop that happening again?
it's really a re-run of Jan/Feb '23 with no news on the several rns' from tail end of last year. so, no update on Kastro (but implied by talk of renovating 28km of road) so no details of cost of upgrade. also, still no idea of cost of roadworks.
on the plus side, if he's punting that interview, presumably they're near to an announcement about funding, if needed (i'm guessing it is) so it's just where does the price go in the intervening 2 or 3 months and just how low will they fundraise?
in the wings until that news is released before adding.
So hang on.......the road was rehabilitated a year ago, but was so good, it attracted much more local traffic and they "tore apart" the road ?
Really ? So the road was ready and able to take 250 journeys each month by 40 tonne trucks (for the 10,000 tonnes of ore each month), but the extra "local traffic" tore it apart. The local traffic in Molulu must be something else.
And now there are a "few thousands tonnes" of ore ready to sell. There were 6,500 tonnes ready in June 2023. Perhaps a few thousand could mean 6,500, but regardless of that, it's confirmation that no extraction has been done since June 2023. I guess those 51 people employed at Molulu are working on an amazing logistics plan on how to move 10,000 tonnes of ore each month.
So road upgrade last year attracted more local footprint hence it's detoriation. Hopefully they upgrade this year fixes the road for the long term whilst allowing the higher footprint. At this moment in time every depends upon this. If you try fix it to last a year or two you will just end up paying more over the longer term imo.
Felt like a repeat of last year, except he does confirm that there's 28km of road needs fizing. also said 60 days from start so June for deliveries.
didn't mention a fundraise (but probably not the place to do that!) but no mention of costs for repairs nor any mention of Kastro plant costs for upgrading.
still pivotal on the road start date and how much he was able to hammer down the price but as soon as that issue is dealt with should see some folk avaging down and the price rising... hopefully!
I'm puzzled if you've just purchased into ceg Kat..
I presume you bought in before the rise?
That said, if we get the funding, could see a quick bounce to higher support.
guess we wait on the fundraise. hopefully it arrives, and soon! a lot of people seriously underwater here...
At least it would guarantee the future but it'd still take until May to start generating revenue.
if i can get 4p or slightly higher i'd stick it in here, post news, definitely.
but until that news drops, i'll keep it in CEG.
Kats bringing his profits from ceg in here I reckon today 😉
Asset grab isn't as silly as it sounds. loaned £200k to OM in.... 2018? CRTM took on the debt and it now stands at (?)£1 million. so where does THAT money come from!
any DRTM default and the assets go to the loaner.
as with every company, there's a lot behind the usual ramping/trolling. but the sp speaks for itself.
Asset grab. Funny..
Quite a few of them buys are mine..
Purr! Purr!
Not seen this amount of trades for weeks and most of it are sells.
now selling at 4.75.
have to wonder whether there's not an asset grab under way as worst case. bloody mad that best case is a 4.5p raise!
Some good points rises or brought to people's attention on this thread, also some doom & gloom so let me add a little positivity if I may. For those of you who remember the early days or Asiamet resources ticket ARS, well it did 160-180% rise in two days on the back of some exceptional copper drill results (those grades way below what CRTM have tweeted) at 5.18p a similar rise would put CRTM between 13.4p and 14.2p.
RF has , as you say, retained his number of shares, and in fact he's also granted himself warrants to get many more at 5p. However, his stake in CRTM is reducing.
Dec 2019 - 77.6%
Dec 2020 - 38.3%
Dec 2021 - 27.9%
June 2022 - 21.8%
June 2023 - 18.4%
It would be an interesting exercise to investigate just how much RFs stake in CRTM has cost him. I'd wager that it's a lot less than you might think.
I'd also argue that he hasn't needed to sell any shares. He's on a £200,000 salary, there's £200,000 in the accounts for travel expenses for the year to June 2023 (unlikely that there are too many other people in CRTM claiming travel expenses), there are the hundreds of thousands paid by CRTM for his stake in MO, and then of course the Baobab Loan, which now stands at around £805,000 that CRTM owe RF, for a loan than was incurred on activities that were nothing to do with CRTM, but were made CRTMs problem when it bought MO, from, among others, RF.
And this is on a company without a single penny of revenue. It'll be interesting to see what happens if the money starts rolling in.
I would have agreed with everything said, if the sp was still at 20p. at 5p and still with no revenue for at least... the next 3 months? so, for 16months in total, since Jan '23 rns stating ore was now available for sale, one wonders whether he's got in his back pocket a plan to take this all back? at the very least to add many more shares (and possibly more cheap warrants) as more director buys. he has, after all, earned £millions from sale of his own Madini shares, personal loans to company and salary so if the plan was to take the assets back he wouldn't care what the sp is... in fact, the lower the better!
most of the trust in the company now is gone until the sp is back over 10p. no other choice as there's no way anyone can sell more than £couple k without trashing the sp further.
retailers have been properly painted into a corner. just have to hope it's a corner with copper in it!
RF has some credit for having retained all his shares (actually bought a few more) since IPO. The IPO was at 5p and over the last 3 years, CRTM has traded all the way up to >30p. How tempting must it be for a CEO owning ~20% of a company to have at least partially sold some shares throughout this time? Even more so with his background given he's a Finance guy he knows exactly what valuation is and how volatile share prices can be. The fact that he's not sold 1 share means he actually believe this is worth quite a bit more than current levels and even levels we have consistently been at in the last 3 years. Yes, he probably overblows a lot of the news and delivery last few months have been questionable but hiccups do happen and I'm confident he'll find a path to overcome them and deliver shareholder value.
The credibility extends, most immediately, to the road and the plant and the dd. both are now horrendously overdue on news and, like all the ones you stated, the silence suggests a pattern of failure to deliver on rns' and the promises tied to them. Sadly, retailers have used each of those occasions to average down... and down... and down.
Frankly, amazed he has such a loyal fanbase, considering what he hasn't done and what he has (bought his own shares with CRTM's money, while being paid by CRTM and with outstanding loans to the company that still need repaying.
This line about keeping the share 'boutique' and just for us now feel like grooming since i hear he was in the tg in the early days!
not a lot anyone can do as it's impossible to sell at any volume and who the hell wants to at these levels! but it's very notable that, considering folk seem to have averages over 15 that noone's particularly averaging down and there aren't any newcomers to the shares.
all for keeping the faith but, jeez, say... something... anything that isn't trivial or wannabe insta influencer raving about his rugby team or his latest sandwich!
I think the problem CRTM faces, rather than the road or the funding, is the lack of credibility following announcements over the past 12 months which at best have been incredibly naive, and at worst are outright misleading.
Jan2023 "the Company expects to be free-cash flow positive by the end of H1 2023"
May2023-"Road rehabilitation is complete"
June2023-"Produce minimum of 6,000 tonnes per month, ramp up to 10,000 over the next few months, then potentially up to 15,000 tonnes per month".
Oct2023-"A binding Purchase Agreement for the proposed Acquisition (Kastro plant) is expected to be entered into on or before 31 December 2023"
Any new investor would have to have confidence that new announcements are actually based in reality, and it might be a long road in regaining that confidence given the track record.
There's also the question of what is currently ongoing operationally at Molulu. The RNS on 3rd Nov 2023 stated that CRTM employed 51 people at Molulu. There has been no update on the ore "stockpile" since June 2023 when it stood at 6,500 tonnes. Are those 51 people furiously digging away and enlarging the stockpile by 6,000 or 10,000 or 15,000 tonnes per month ? Or is the stockpile still 6,500 as hasn't changed since June ? The lack of operational updates is problematic as it raises further questions over the ability to actually supply the ore once the road is completed.
Before the ore sales there's the trigger of funding for the road. if it undercuts the current sp but 'promises' eventual ore sales i can see some buying at least back to current levels (which isn't amazing but...)
i hope we don't get some nonsense about limiting dilution of shares by getting another ceo loan that leaves him as prime creditor or gets to convert into more shares at massive discount. would rather see £1million raised from existing holders, underwritten by ceo (if he's keen to participate).
still concerned at the lack of info about the plant (too many times has silence from a 'good' rns resulted in a reversal of the rns) but, considering it's impossible to sell any significant number of shares, just have to hope the funding news comes soon and big enough to clear the way to revenue.
Looks like this road upgrade 2.0 has killed volume here. Hopefully once it is complete volume will pick up with the anticipation of impending ore sales. Until then I've switched off / zoomed out. I do wonder however if the company has considered asking the ore purchaser or potential ore purchasers for the money upfront for the road upgrade which will be paid back with free ore up to the value of the road upgrade cost + a certain % additional ore for free as a sweetener say 5-10% ,(exploring possibilities/example(s)).Maybe the company have this covered already who knows
Cookie1970
Are you short?
Becareful 😉
I think he'll be announcing details of another 4 mines in another 4 countries, to fulfil his promised "5 countries, 5 mines" plan. Each mine will, of course, be cash flow positive within 12 months, as he said he insists on that when evaluating mines.
:-)
Most accept that there's a placing coming as there's been no revenue in 14months. so the only question is how low they raise? could be anything from 8p all the way down to 4p.
there's a reason why noone's buying yet at 6p...