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A maximal 19 days until Sheffield Resources, Lomon Billions, or a combination of the both have to conclude a funding transaction.
From the 15 March RNS -
Highlights:
· Sheffield Investment of £1.25 million for 10% of the Company's issued share capital at 3.623p per share
· 12-month option for Sheffield to invest a further £0.844 million at 4.891p per share
· Outline terms agreed with Sheffield to contribute funding to support the Project into production in exchange for up to a 50% interest in the Project subject to, inter alia, due diligence over a 60-day period
· Continued positive engagement with LB Group in parallel with Sheffield - either party may individually conclude a funding transaction with the Company within 60 days
From company website
Name - percentage - date last notified:
Sheffield Resources Limited 10% 21 March 2024
Bart Properties Pty Limited 9.5% 3 January 2024
Brent Holdings Limited 8% 3 January 2024
Roman Resource pty Ltd. 4.7% 3 January 2024
Spreadex Limited 4.5% 25 March 2024
Cantor Fitzgerald Europe 4.5% 11 April 2024
Stanton Investment Limited. 4.1% 9 January 2024
KL-Kepong International Limited 3.8% 19 December 2023
15/3 RNS stated:
Pursuant to the Sheffield Investment, Capital Metals has granted Sheffield co-exclusivity with LB Group (002601:SHENZHEN) for either party to conclude a transaction within 60 days to provide funding to support the development of the Project into production in exchange for up to a 50% interest in the Project.
I just don’t see Sheffield being satisfied with 10% - so I would think that titanium sands have rather over egged the interpretation of ‘agreed’! In principle maybe, but not signed off and that exclusivity agreement is now fair game. Though if it did value us at £200m, I’ll take the 13x ROI on current sp!
There’s an amazing property conversion taking place where I live, and if this gets to 20pps we might be able to buy it! Exciting times and just a little bit of daydreaming of being back to the EPO days of the twenties!!!
Just imagine if we got the JV, then additional licences approved and some footage of physical works - it could do multiples very quickly. I think once the JV is in place credibility of that deal will do us huge favours.
We need to start evidencing that our grades (exceptional) and capacity (deeper surveying to come) means we’re actually conservative on our assessed potential. This should be a once in a lifetime opportunity for me and I’m glad In loaded up!
Thanks for your read on this, Ando. I was thrown by the 25% we saw go last Friday, which I had wondered if it was an NED or such shedding off before a closed period. Now I’m not so sure.
This has been a traders dream lately as it moves on such small relative volume.
I got so exciting here in the gym I didn’t finish my post!
I hope the news to come flows in the right sequence for sp development, and that anyone who’s been in this through those tough sub 1p days gets out what they wished for!
Reflecting on the admission document from Dec 2020 (when the sp was 12pps!), we need to remember that it CMET was reversed into the cash shell of EPO. IIRC there’s something like £40m of tax credit available to the company if it remains UK domiciled for earnings and taxation. Not an insignificant consideration for the board. I think that lone will stop a buy out in the short term.
We’ve all see the analyst view of 46-70p on known resources etc. With the ‘false dawns’ we’ve endured so far, and the fact we’re on AIM, IMHO I think we’re likely to see around 12-15p as our future base. This making us valued c.£40m. I think we need to see physical action (diggers opening up site, lanes marking, port being dredged and refining plant being built etc) to push us up and beyond that point. I think some of that can happen really quickly once the funding is available, so we’d bounce on north of my estimate in successive bounds on a regular basis.
It’s super transparent - someone has liquidated a wedge of shares here and thrown the money into ORCA. cross matching the timing and size of trades tells a very clear story. Someone is either very optimistic or foolish on chasing that ace!
Company credibility continues to increase as these (if looked upon individually) small measures improve the governance and access to knowledge of the business.
I think we’re probably on a few pinboards as a T/O target now as the potentially is worth the investment risk. I hope we hold our nerve and grow a business which is dividend providing and worth holding for the long term.
Great find Andoman! Sheffield Resources being Aussie, I wonder if this could prompt a third interested ‘agency’ or Australian state support? I doubt we the UK would suddenly find some magical stimulus funding for CMET as the USA government might!