Member Info for Adam1986

Greg Martyr stated in an interview last year the monthly cash burn would be around $150,000 but that would include the cost of the drilling programme. This hasn’t yet begun so monthly cost will be significantly lower at present.

Agreed, Ed. My point being the sp rose to these levels 3 months ago and then fell back. Let’s hope we get an update of real progress soon. My goodness, it’s about time.

Let’s hope something's brewing and it isn’t just a pump and dump.

Thanks for that Bonkers, I too received a reply to an email sent weeks ago. Almost word for word.

Although frustrated, there’s a part of me that’s relieved it’s only a delay because I was kind of expecting worse. The part that concerned me the most was they do not “currently” see the delay impacting their q2 FID decision. I hope this isn’t planting the seed. I’ll jump for joy once/if the drilling begins as it’d finally be progress after what feels like endless patience.

Keep the faith gents. It is painful, it is frustrating. I’ve been invested here for well over a year now, just off the back of getting licenses back. I’m obviously under water here. I can’t work out what to make of the situation overall. Are Cmet the most unlucky company in existence or are we just consistently lied to by the board? All the comms in December, after a painfully long wait for any news, was fulls of beans, all guns blazing, full steam ahead with drilling. We’re now a further 6 weeks down the line and it’s radio silence again and no one has the faintest clue as to why. They need to be consistently more clear about what going on.

Https://www.linkedin.com/feed/update/activity:7272528134791483392

I received similar. That the presidential election was the least predictable of all the possible outcomes and the subsequent parliamentary elections were called for mid November. So it’s necessary to re-learn who the regional and national stakeholders are and are expecting changes in the composition of the cabinet. They remain confident of support for the project and with regards to drilling, they will begin as soon as is sensible to do so once the changes at ministerial level have settled.

It’s hard to know. But if they are sells they must’ve been from 2 separate investors because no individual owns that much of the company. Alternatively if they were buys then you’d have thought the sp wouldn’t have dropped 5% yesterday. It’s odd how the number of shares were identical. Could it just be someone transferring between account possibly?

Patience is something you need an abundance of here. I can’t remember where I read it was due to commence in October. I can’t find it now but according to their website it’s 2nd half 2024. An update of some description would put minds at ease. It’s been a reasonable while now since the drilling was postponed and heard not a peep in any form for 10 weeks or so now. I wonder if the 3 recently advertised positions have been filled yet.

Hiring of several key personnel can only be positive in my view. Maybe things are finally going to start moving forwards here in the near future.

Let’s hope so. Lets hope for a positive update following the AGM

I hope you’re right Ando. It’s good to see some buys returning this week. Long road ahead but I’ll be here when hopefully your prediction is proved right.

Does anyone else feel we’ve been completely misled here or have I just been completely naive? We were led to believe there was a 60 day period in which two companies are fighting it out to get involved in our project. At the end of this exclusivity period Cmet “chose” to go with Sheffield. There has been no further information given about LB Group. Was there an offer? Was it not good enough or were they never really that interested? Are they still interested? We don’t know because information is vague. Other than “deciding” to go with Sheffield, we have no idea what LB’s stance is. In terms of Sheffield the same questions apply really. It looks like their own financial situation needed attention but again, were they ever close to making an offer? Are terms pretty much already agreed if they were to come back in 9-12 months when themselves are more stable. After watching Bruce Griffin’s recent interview, although there wasn’t much of a mention for Cmet, he gives the impression there maybe be other projects that could be of more interest to them.

However having said all that I do remain in here, as the mcap is ridiculously low for the resource they have with the likelihood of expansion. Wednesday is a big, big day for them to put investors minds at rest. A bit of honesty and detail wouldn’t go amiss. We need to know what is going on and what the plan is.

Gla

Agreed Sebo. JV announcement could come any day. Last Rns stated legal agreements were well advanced and you’d expect news almost any time now. If that goes as expected, together with a positive drilling campaign and further licensing this should move up dramatically from here. Surely can’t be long to wait now.

Let’s hope for FOMO Friday. Will be 28th by Tuesday. Not many days left in May.

Some lovely buys today. Let’s hope for the news we’ve all been dreaming of early next week.

I would tend to agree with legalwolf here with regards to trading activity if it was imminent but having said that I specifically remember the day the IMLs were officially reinstated CMET was 8% down in the morning and the RNS was released around lunchtime and spiked from there. So if it is ever leaked here it certainly isn’t regularly. I believe it could come anytime, any day.

I do agree with jtis, that it’s a matter of when, not if. Sheffield purchasing a further 10% a few weeks ago was the deal breaker of confidence in this for me. They wouldn’t have invested to such a degree without being fairly certain that a jv was happening very soon. We’ll find out in the next 3 weeks. Hopefully Monday.

Entirely agree with you Andoman. The best way for all of us here to maximise this is to hang on to them. Everyone has their targets but the tighter we hang on to these the more will be in it for all of us. We all know what’s coming….

Only just beginning to research this company but if these target prices are realistically achievable it could represent a serious multibagging opportunity over the next couple of years.