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Https://www.voxmarkets.co.uk/rns/announcement/98308b8a-f974-4ce0-b389-fafd5fa2b2a5/
(it's vox markets, if lse decide to edit the link... )
Is it that time of the month Mr mazza..
Worrying alittle about your drinking also..
Please take care ❤️
It'd be a huge faux pas if the rains made the road unusable again but, as he's stated (somewhere) that the road will be usable throughout. completion of the road should see a jump in the price... would've though eding to completion will see same. pretty sure the machinery used to dig up the ore was the digger from last year's road repairs... going to need to see machinery brough in but... have to wait for the road. everything is the road! without it...
How can that be? A few months after road completion (Sep latest) we are into the rain season in the area which starts Sep to Oct. Perhaps they can work through the period others reduce activity but the active businesses are those close to the processing sites and off the N5/N1 main routes. I am mindful he said 60-90 days then they started 2 weeks prior to that timeline so we should be looking at mid jun - mid jul. Granted September is perhaps the latest, which I hadn't heard but as you say sentiment could carry this but prefer fact based reporting.
Agree with all you say. it's a trade and nothing more for me... i hope it's got legs in 2024 as i know too many people who sunk more than too much into the sentiment from last year.
and by 'good spokesperson' i meant he sounds plausible at the time. (i'm reminded of Paper Moon but without the bibles!).
and i agree that the monthly 10k tonnes is just wishful thinking until, maybe end of year. as for the US funding and grants... i just hope that pleases lthers as talk of 'buying trucks' with the money and all the other etceteras are all intangible without a JORC, minimum and i doubt if that'll be ready until... October?
but, as i said, worth a punt up until the sp gets just over the downrated 10p warrants (with just a word of caution on the new 4.85 'clns' that can be issued at Fryer's discretion - and have to wonder who might pull those strings, not knowing who handed over the cln money.)
but i'd be happy to hold and sell up to 10p, with a nervous look to see what the next rns is!
I agree, CRTM might come good - it's got to be worth something in the right hands, and at a £3m market cap it's due the bounce it's seeing today based on copper sentiment alone. I'd say it's 50/50 on whether it crashes before getting into any regular meaningful production though, or just limping along like it currently is for the next couple of years with excuse after excuse.
Also, I really don't think RF is a good spokesperson, and for me he's the biggest problem with CRTM (and yes, I know he is pretty much all of CRTM !). He sounds good the first or second time you hear him, but then you realise, most of what he says are just empty words and are what he thinks sounds good at the time. He likes to sound like he's really knowledgeable, but I'm just not sure that he is. If he was, he wouldn't have been confidently predicting selling 10,000 tonnes of ore per month from last May when he'd only starting digging the first hole in January.
I just wish he'd stop talking about producing 10,000 tonnes per month, or talking about an $11m loan from the US (yeah right, on a £3m company that has a CEO in court for non-payment of a loan in the US). He should stick to the basics until he's built up a bit more credibility.
What i understood to be true (!) is the cln money has been paid upfront... the clns are more like 4.85 warrants, paid for, upfront (so, again, a very cheap entry or averaging down for those insiders who could take advantage)... the roadworks will complete (though costs are unknown so hard to know how much of both fundraises are for that and how much might be left over for a potential asset purchase)... and the shares are very difficult to buy so could see a forced rising price, based on the hope that everything that was stated last year ANd again, this year, might actually come good!
the biggest reason for optimism is the price of copper. whether CRTM manages to get to the point it can regularly sell 10k tonnes per month (Fryer says a couple of months post road completion so... Sept latest). but, even if the brakes are put on the progress, unless something materialises that kills the company stone dead, there will be time to get into this as the mine proves itself up (or not). just have to wait and see what news comes next and make the judgement.
meanwhile, there's probably money to be had trading this just on sentiment, the limited shares now available (warrants still priced at 10p so double current price) means the sp could rise fairly quickly.
one can't argue that Fryer IS a good spokesperson. Whether his 'enthusiasm' for timelines that spectacularly fail is now taken into account is to be seen... but, at this low, it's worth considering.
The Q&A on the Hive last night was hilarious. Glenn Gordon getting all excited and giddy while ignoring the rule breaking of Fryer. Gordon was the same fella posting all sorts in the Contango telegram group for months including old articles of Carl Esprey and Andrew Groves. How convenient he now ignores the blatant rule breaking of Fryer 😁
If investors and shareholders sit there and allow a CEO to dump his shares quietly hoping no one will notice while his company do fund raises and puts out PR tweets and the investors and shareholders pretend there's nothing with this and completely ignore the issue, then don't be surprised when that CEO screws you over. CRTM might come good, it might not. But a CEO who doesn't even have the decency to explain why he failed to report his sells in accordance with PDMR is not a CEO I would trust. And no the FCA are not prohibiting him from explaining why he failed to report his sells on time. But then again dishonesty seems to be a recurring theme amongst the clients of St Brides Partners.
I have to agree with InvesterPA on that one. You cannot play such a deceptive game and then hope people will support the actions which are detrimental to public perception. If anyone is interested on Goolemaps put in -11.080038798476734, 27.665040650575285 which is the location of what appears to be the stockpiles Fryer claims to be able to sell (190m x 130m). The 'stock' is primarily base don surrounding mines low grade as you keep the high grade separate and in enclosures such as the bags visible (about 44). So as we know nothing has been mined per Fryer statements the mines dependent on 44 bags of 500-2000kg weight = 22tn - 88tn. A lot will come down to the concentrations in the mounds and bags which we still don't have. Its metrics like these I like to know. I will be posting the pictures in the next few days its not all doom and gloom.
Disclosure? This is Fryer we're talking about. The guy who very conveniently forgot about PDMR reporting rules and waited for the FCA to catch him before he fessed up to dumping his shares.
Seems to me there's just zero trading in this until market knows whether the cln holders are just waiting to punce and crash the shares or whether Fryer is going to try and delay that result until the road is nearer completion and the sp rises in anticipation (assuming he can do that!).
sp looks to be on a knife edge as to which way the sp goes first, and what happens thereafter.
(personally, i'd like to know just how much the roadworks are costing and whether both placings are being used in full... also, i'm assuming thee would have to be disclosure if Fryer is also part of the clns?)
Excuse my error, another sign then that the internal faith in the direction of CRTM isn't held by those likely in the know. Perhaps they heard the rumblings of dissent about the salaries. I saw PCX reporting earlier. Glad I fell the right side of the Edwards-Jones debate but time will tell
Thompson isn’t still there. It’s in the announcement today, he’s stepped down already - after about 6 weeks.
You worried me with that first comment as Eastman stepped down 1st April 2024. Thompson is still there. Eastman is still connected by Orana corporate so I suspected at the time it was a way to lower their outgoings on CRTM books (perhaps as the board take such sizeable salaries). Addition of a geologist today seems a step in the right direction but time will tell. JORC JORC JORC
Meant “Anthony Eastman STEPPING down”
Gordon Thompson stepping down from the board and he was only appointed on 1st April
Not a great look coming only a few months after Anthony Eastman Stephen down as well.
You might have some wait yet for JORC report. Previous announcements have been :-
19th Dec 2023 - "The drilling data and information is planned to be inserted into the JORC report which is expected to be released in Q1 2024."
8th Jan 2024 - “….the JORC report which is expected to be released in Q1 2024”
10th April 2024 - “....ultimately create a JORC report. The timing of the commencement of the drill programme is currently under discussion and the market will be updated in due course”
It seems to be getting further away rather than nearer. As "knokke" said on here, there's been plenty spent on board wages, but nowhere near enough on the drilling. There is just no reliable and comprehensive information on what is in the ground.
At least once the remaining trucks from the first ore delivery to OM Metals get through, that will give some idea of what is in the ore that has been dug so far, as OM Metals will be processing it and paying based on grades.
@Bohercom thankyou, my grasp on social media isn't the best. It doesn't show much but as per my previous comments I was worried (the now) 38-68 day completion was not feasible. The video would indicate they have commenced and are using the right equipment to improve the road which is as you say something. Looks like a 2000 gallon water tanker and motor grader and they weigh over 10-12 tons so at least heavy duty vehicles can traverse the route. The compactor if 17tons shows heavier vehicles capable of being supported (hopefully supporting the 25-40 ton trucks. From the images I've seen myself from last week before these works there were HGV type vehicles on the route from Malambwe up to the mine, so I have a bit more trust using objective eyes without RF lens fitted via social media posts. I am cautious but slightly more optimistic. Times ticking and I still won't go in until the JORC is out.
@InvestPest - Last night CRTM tweeted a small video of the roadworks starting. It doesn't show much, just a water tanker spraying water on a dirt road, but at least its something
https://x.com/CriticalMetals_/status/1787952954755920209
There is going to have to be an rns when the clns are first converted and so i imagine the holders will try and push the price down so they get more shares for their conversion?
with over 2 months before completion, i wonder about when they will convert before the price might start rising on expectation of that completion.
I apologise, I was reviewing the copper output as a metric to assess the share price (SP) of the companies investing in the active mines. You are correct they differ to CRTM drilling. It appears there is a lot of buying and some selling going on today. I must have missed something, unless it is just the belief that the share price is at a turning point. Luckily, we are only 40-70 days from road completion based on RF's comments to Vox. I'm looking forward to the sample update from South Africa and the 'transparent' JORC report.
I will update the road pictures. Does anyone have ideas on where I should post them, as I cannot do it here? People use Twitter and Instagram, but is there an easier option for me? I've locked myself out of my Facebook account, so that is not a viable option sadly. I was considering letting RF go first with his update in 40 days or his next interview. Maybe he will realise investors are not fools and will go beyond just trusting face value.
You might be confusing copper output with Molulu's targeted ore output.
It's about drilling. Unfortunately, last Ann rep shows something like £140k exploration, £497k board wages. July Dec added similar exploration, but needs to be doubled, for phase 1 & 2, but that hasn't been the company's priority. Rewatch the last interview and compare to the RNSed 3% grades 15 months ago. Conclusion: it's all about the drilling
I was in discussion and looking into nearby mines in the Molulu area:
Ruashi - 38000-42000 tons per year
Etoile - 25000-35000 tons per year
Kinsevere - 70000-84000 tons per year
Have a google (-11.36381, 27.56893 Kinsevere) at the scale of these mines then look at Molulu. Quite a stark contrast in the infrastructure. So then I think about the 10000-15000 tons a month claim (120000-180000 tons per annum). This will mean in the next few months Molulu would become the area leader in Copper... or maybe someone who doesn't know the size of the structure he's sat on is just wishing? So my thoughts are whatever RF says we are not going to be hitting 10000 a month, and realistically albeit maybe years away could hit similar to some of these mines but only with drastic expansion which will be at a cost. So this isn't IMO about only the road its about the sales pitch that is coming with these interviews. I looked at the companies behind these mines and they are in the £0.30-£0.50 ranges after years of hard work. So lets not perhaps get ahead of ourselves as a year ago CRTM was in the £0.26 based purely on no product and speculation. So looking at what we have I am thinking buying now with a longterm perception of x5 is acceptable but any more than that is misplaced hope. I absolutely accept no mine is the same and RF could be sat on large deposits but I prefer to benchmark, assess before I move.
To convert the SMEP to a full exploitation licence you need the viable plan and enviromental certificate, but the SMEP can get a one-off five year extension if the Ministry of Mines don't object. The full licence gives a much longer time frame.
OK, so there should be an existing set of env plans from the licence, but i dont see it, a new version would be needed if anything changes (new method, equipment, mining approach, buildings, etc) and probably take closer to three months to get done, but it does need a study to work off. For now, ore sales, shipping off site seem to be fine.
The current SMEP licence expires in December, can be renewed once then a full exploitation licence is needed with feasibility study and enviromental certificate
And from the crtm prospectus:
"The Project is required to be operated within DRC health, safety and environmental laws. The New Mining
Code and the Mining Regulations contain several environmental and health and safety regulations including
the obligation to obtain an Environmental Exploitation Permit from the Ministry of the Environment, obtain
approval for a mitigation and rehabilitation plan and submit an environmental impact study and a project
environmental management plan."
So still to be done.
Its good to ask questions