The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Thanks for the update guys. Much appreciated.
Thanks both for the feedback, very much appreciated.
Yes, many thanks for your feeback guys.
Thanks for updating, sounds positive hopefully.
Thanks Justone appreciate the message
CS , ongoing negotiations , crmc has a lot of staff absence due to omicron variant , circa 25% of the crmc people there negotiating with . Interesting that the commercial test was done at an airport ( . That may narrow it down to who it is ) Pc was very informative and answered a lot of questions from the three investors that were there . Others present were staff and members of bod , production is key on cs and still the target as he’s detailed in past . there are still some disagreements on the fine detail of cs but both sides are working hard to overcome this . there definitely not interested in the perlite side of things , as for perlite . this is very much in high demand from some users who are having difficulty obtaining from usual sources ( one of which was in Mexico ) . Sepiolite seems to be a high value target circa $1000 per tonne for high grade . Initial sampling grades ours at around 90% however pC did state further drilling required to establish depth and commercial viability ( he stated he only knows of three commercial viable deposits in the world ) . Hence the interest from European . PC is fully aware of investors frustrations and he will release more when he has more . Will post more
I attended with two other shareholders. I don’t have the time to go into detail, but left content that not only is my investment safe, and will not suffer dilution, but will give a sizeable return on today’s price. Plenty of time to ask any questions we wanted, and PC answered them within the appropriate restraints. When the deal will be signed was not revealed, but both sides want a deal, and see the urgency. Reading between the lines it is a proper JV based on a long run agreement, so the JV will also supply others in the concrete markets. Possibility of adding in the perlite as well. We are free to do other deals with our other claims. We are at the start of a push into Pozz in general, hence the interest in staking our other claims, so momentum should increase especially if we sign a deal. All very positive really, just have to be patient. First time I have met the board, PC comes across in the flesh exactly as in the podcast. Steady, not excitable, conservative and is very aligned with the shareholders. Costs are kept to a minimum and the company is conservatively run. The deal will get done as it is a win win, with rising prices, but these companies do not move fast, frustrating as it is. COVID has put and us back with the timeline. I hammered home how disappointed we all are in the share price. The problem being the market does not recognise the value. The deal will give visibility of that, and should give us the badly needed rerate. There are other irons in the fire, any one of which may put some icing on the cake. Not long now, soon be there!
Must have done?
Tottyman was going wasn't he?
Probably down the pub drowning his sorrows.
Did anybody attending the AGM ask the BOD about what is happening with tbeC S Project ?
TIA
Must admit I'd voted against resolutions 4 & 5 personally.
Looks like all resolutions were passed - not expecting anything mate TBH
https://uk.advfn.com/stock-market/london/sunrise-resources-SRES/share-news/Sunrise-Resources-Plc-Result-of-AGM/87118647?xref=newsalert
Now yiu have the mandate, when is the next give away placing going to happen ?
You and the rest of your board seem to have no shame for your inabilty to do deals and deliver shareholder value.
Utter disgrace !!!!! AIMVHO
Back to sleep in never never land !!!!
Anybody at / been at the AGM got anything to report ?
TIA
Thanks for clarifying Twiggy.
Regarding that 4 years, it says in the presentation that they consider CS to be mine ready now.
First slide after the financials.
A lot of people insist that PC is an honest and humble guy, but I think the pattern of evidence is that he always underestimates how long things take and then blames it on external forces.
Not internationally recognised but we are described as major players :)
Clearly Eagle Materials / Nevada Cement are a target for Hazen. Probably not for CS though, if only because it's a bit of a stretch to describe them as "internationally recognised".
As an aside, Eagle have just released their Q3 results today:
http://ir.eaglematerials.com/news-releases/news-release-details/eagle-materials-reports-third-quarter-results-2
Cement price & demand (which are a good proxy for pozzolan price & demand) remain positive :
"The average net cement sales price for the quarter increased 6% to $118.44 per ton. Cement sales volume for the quarter was 2.0 million tons, up 7% versus the prior-year period."
Interesting that a photo and mention of Nevada Cement ( aka Eagle Materials) is posted in the report - could that be our CRMC for CS ?
4 years from when though? from first find? from 2020? from now?
Extract
• Shorter lead time from production to mine-ready:
• Gold Project –typically 10 years
• Base metals typically 15 years
• CS Project – 4 years.
Is here https://www.sunriseresourcesplc.com/filemanager/Presentations/2022/Sunrise%20AGM%20%20Presentation%2027%20January%202022%20web%20version.pdf
I didn't spot anything new about the deal we're waiting for. He mentions our other industrial mineral projects: -
Hazen pozzolan project
Newperl Perlite Project
Pioche Sepiolite Project
County Line Diatomite Project
Hopefully someone nips into the Firework shop on the way to buy some rockets......
Let’s hope PC is not 3400 miles away