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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?)
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.
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.
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 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.
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!
Https://www.facebook.com/photo/?fbid=122114332292303398&set=pcb.122114333282303398 This is what I was talking about previously in regards what is potentially sat there based on mapping but I am reminded of @katstrangler comment that 10k tonnes a month is wishful thinking, which still fells overly optimistic unless RF is banking on perhaps these bags being viable high grade ore as may convert to his 2-8 month supply of this 10k tonnes in the short term. Still needs a road to convert to financial gains and further work to maintain a supply.