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Hi, ninja. if that's correct, then my apologies. i'm embarrassed if these are two separate processing plants as i thought the offtake is with the same company that CRTM are looking to rent and possibly lease.
or are you saying that both plants use the same roads? i admit to being confused, now. but i'll check the rns' again as i've not read this in any posts, anywhere, previously.
appreciate the reply.
Think your 8p is a coin toss. all comes down to whether retailers or new potentials see 9p as cheap enough to take them, being cheaper than the 10p warrants and whether the 5p holders decide there's just not enough reward for having held these for years.
company keep restating that January is the month for reignition of positive news so going to come down to whether there'll be news before the AGM or they're going to want that through before (possibly to push through further fund raises and shares so BoD can participate on these low levels!).
i'd rather be cynically looking forward than the ludicrous 2023 optimism being repeated (at least until there's some justification.)
just don't be surprised if 9p is as cheap as they buys get.
I think you are missing the point Mazza,
The oftake agreement is with a fully operational plant so once the road is fixed sales start.
The other plant that we are looking to rent/buy is the one that needs bringing back in to operation
Looks like my fok at 8p is going to get filled shortly.. Been sitting for awhile for this day to come.. Wish me luck
You missed my point. if the company can post ticket stubs then they can put a statement on twitter that says dd on the plant is going according to expectations with no obvious delays to processing and will be fully operational in time for the ore delivery.. noone wants the presumption that roadworks will progress over the coming weeks for ore delivery only to find the plant has technical problems that push the revenue even further back. having seen how companies like VAST and PREM promise things (and CRTM, come to think of it) it'd be nice to have some real conviction translated into trade buys. atm, the trades, considering how low the sp is, aren't showing many 'bargain hunters' diving in.
The company stated that road upgrades where needed. This will take priority. No point in having great ore grades & lots of it with an all signing & dancing facility on site if the trucks can't get there without reduced usage. Getting exhausted explaining why this is a necessary evil.
While i'd like to think that all the plans laid out by Fryer will come to pass, my real concern is that there have been no dd updates on the plant? considering it seems to have been in diuse or, at best, running at merely at a minimal opational level, the last thing the share price now needs is to find there are issues with the plant.
been months since the rental was announced. but, like the offtake agreement, things can always go south and the only way one proves it isn't is for the postive update to satsify investors.
getting exhausted by the blue sky tweets when the more mundane 'on the ground' issues are almost too boring to the company to be indluged!
It's certainly an unfortunate delay that the road issue is only being addressed now, just at the point that some initial ore delivery was finally due to happen.
The issue did, of course, occur to plenty of people before now. It also occurred to CRTM, as in their own prospectus issued in September 2022 (available here https://www.criticalmetals.co.uk/investors/corporate-documents), they have this helpful section on page 15 -
"The Molulu Project is approximately 100 km north of Lubumbashi City, where the nearest smelters and international airport are located. Although the route to Lubumbashi City is mainly on the N1 tarred road, the last 20km are on a dirt road. Although the Company plans to fund the upgrading of about 12km of this road, until this takes place, there is a risk of difficulties getting to the Project and/or trucking minerals produced from the Project for processing as in the rainy season the dirt roads can become treacherous. If such difficulties were encountered, it is likely to negatively affect the Project’s revenues which in turn are likely to affect the Company’s return from the Project."
The same document also states that £276,000 of the funds raised in the placing were to be used for "Ancillary capital expenditure, including road rehabilitation" within the first 12 months.
It just seems not to have been addressed until the very point that it's needed.
Can't find the details but was the plant mothballed and inoperative but being resurrected by CRTM?
or is it a working plant?
confused as to who owns the trucks and aren't they constantly in operation, using the same roads that are crumbling away, even as we speak?
just find it odd that over many meets with various potential ore buyers and with offtake agreed it's never occurred to anyone until ore deliveries 'started' that this issue became apparent?
there are times when i wonder whether the offtake was just a misdirect, in much the same way as the Jan/Feb '23 'we are stockpiling' rns that then wasn't because it was' safer to leave it in the ground' story came along later?
while i appreciate that permits and dd and funding and all the other etceteras have happened over 2023 little seems to have been actually achieved yet that proves there's revenue coming.
as a success story for the future i wish i'd bought into a company (at whatever price) as a revenue generator than wanting to be in at the off and benefitting from every penny made, especially as the delays push that point further into the future and the sp further down towards the 5p warrant price.
who'd have believed that so much positivity from the 25p buys and 40p warrants talk would see the sp struggling to hold 10p!
better days can't come quick enough (but dismayed to see more pics of ticket stubs instead of roadworks or even the dd being conducted tweeted).
Man, this is painful to watch……. legalised robbery.
The risk is ever increasing mousey..
These are testing times..
https://www.nytimes.com/2023/12/17/world/africa/democratic-republic-of-congo-elections.html
Your argument on long term contradicts your F&K @ 8p.
Long term this is either a £100m+ MCAP or zero.
Waiting for 15% to drop MCAP from £6.5m to £5.5m when you are aiming for £100m is neither here nor there. Obviously just spouting nonsense to fit your narrative.
Then why is it dropping if targets are so close..
Along way to go before profits are made..
And there is the geographical risk associated with conflict in this area.
Africa is getting alot more volitile these days with threats of war brewing in more states. haven't you being reading the news?
Risky but rewarding in time hopefully🤞
I wish you zero luck in fulfilling that order. To much near term for it to drop an additional 15% IMO.
Offtake is imminent, processing plant is imminent, JORC is imminent, potential gov grant, lots of ore stockpiled amount TBC. AGM imminent, Hopefully a bit of positive PR and beating the drum from RF leading into the AGM and shortly afterwards.
Shoved a FOK in for 8p wish me luck 🤞
Pillock
go dunk yourself
IPO at 5p in September 2020, current price 9.75p beginning of Jan 2024. A 95% return in 3.4 years. Fund managers, family offices, private equity firms, and unit trusts would love that type of return, dont you think?
As for the rest of your questions, see you at the AGM !
How many current shareholders bought the IPO? Not many I would say. Most are now down by more than 50% at least and your CEO couldn’t give a toss.
Couldn't help myself, just topped up
LSE showing as sell- surprise surprise
The raise is a little disappointing at 9.5p. last raise was at slight premium this one at a discount to enable road upgrades which in turn allows sale of ore which allows the company to further their plan with minimal dilution. Given that was last raise before the above surprised it was at a discount when last raise was at a slight premium. That said many companies have had far worse raises by quite some margin over the last two years, something to take into consideration. Onna final note don't agree RF has done little or nothing for PI's and that 2024,will be like 2023 but respect that is someone's else's opinion. GLA
More money raised for Mr Fryer to spunk up the wall. Has he ever actually delivered on anything he’s promised shareholders? 2024 continues on the same trajectory as 2023, flat.
There are conditions to the $3m draw down
He needs to shift his ore stock pile first
There is a $3m debt facility to draw down.
This company does seem undervalued, but looking at the last results, surely they must be running on fumes in terms of cash?? Is there a placing incoming?
Critical Metals: 9.75p Target 25p Stop Loss 6p
At the start of 2023 shares of Critical Metals (CRTM) were very much on a high, boosted not only by the market’s enthusiasm for its flagship Molulu copper-cobalt project in the Democratic Republic of Congo, but also the dynamism of CEO Russell Fryer. Fast forward to October and the company said it entered into an offtake agreement with OM Metal & Resources SARL, for the sale of at least 20,000 tonnes of copper oxide ore. This month’s operational update underlined that the first ore sales are due by the end of Q1 2024. If you add in the sizzle from the latest 24-drill-hole campaign at Molulu, and the current share price vs 30p plus at the start of the year, CRTM not only seems the wrong price, but this is classic situation which underlines how short term traders have exited, just before the fundamental party is set to begin.
It’s flatlined, break out the defibrillator.