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@investpest - Maybe worth noting part of the 'dirt' road had already been rehabilitated 22/23, this was solely for the rainy season and solely for the use of Critical Metals getting trucks in and out of Molulu.
The story goes the road rehab increased the local traffic by villagers and 'loggers' in the area so the rehab that had been carried out wasn't sufficient for the 40T trucks that OM Metals were using to collect the copper ore.
I think this answers two of your questions;
a. Maybe this is why the time taken is significantly below what you expect as on the 28km stretch there is as you say 8km that needs little rehab to get to a standard and within the 20km of dirt road there are parts that will not have deteriorated much from prior works.
b. I think in this in mind they have gone the 'whole hog' so to speak, rather than patching only areas of concern in the rainy season or only doing the 20km of dirt road, RF has taken it upon himself to play cautiously get a contractor, price and rehab the full 28km at the same time this should hopefully give a constant supply chain and no delays in production/delivery going forward.
Copper plays are obviously going to get more and more in vogue as the copper price increases, I think you need to invest in the management and with the resource both of which are why I'm invested here in CRTM.
Molulu alone without further M&A has a predicted 15 year mine life and I'd urge you to look at some of the copper grades intercepted in Q323.
What a great RNS to wake up to Monday morning.
- Confirmation the 28km of roadworks has commenced.
- Offtake agreement with OM Metals still in place.
- US Listing impending should be the end of the month.
Roadworks scheduled to take 60-90 days so essentially between end of June & end of July we should be able to deliver what is on the pad to OM Metals and then restart production with a view of 10k/month as soon as possible.
Look @ the copper prices and you will see the type of profit that will generate @ a £3m MCAP this is an absolute no brainer IMO.
Https://zakstraderscafe.com/interview-russell-fryer-ceo-critical-metals-2/9129/
Strong disconnect between the SP and what the company is currently offering. In a stronger position now than in the Autumn when the SP was late teens.
400% upside in a short space of time here with a much larger upside when production gets restarted.
Just assume it was a set amount 1.5 and the extra was the oversubscribed amount.
You want to be looking at CRTM & CMRS for another 2 great copper plays!
The JORC isn't coming Q1, I'd put my house on it.
BUT there is a lot of things to look forward too.
Https://twitter.com/CriticalMetals_/status/1765767506558362070
Strong consolidation at 0.65/0.7 fully expect an end of day rally to 1p then potentially a 7am RNS of monies received to push us up to 1.5p+ tomorrow
Paid by 05/03/2024.
Can I just check the date today please guys?
I understand the logic in saying this as you've seen the people here but when it is valued at half of cash and .75 of cash going to be received today your point is invalid.
This is cheap and you cannot get away from that
Paid today so fingers crossed intra-day confirmation. BOOM!
This seems an absolute no brainer, cash payment today of $1.65m eq. £1.3m.
Add that to the £1 cash reserves already £2.4m.
Valuing the company assets and Coalswitch rights at 0??
Cash is eq 1.4p/share so over a bag from here. Wait for that to sink in
Went through at .3. Ouch.
Conclusion (As a shareholder)
We’re in a very difficult time, where the market conditions are poor and there has been an exodus of current shareholders and no new investors to replace them. The delays in cashflow is what has caused this to drop from high of 35p down to 6p today. The story hasn’t changed though, this is a great opportunity to enter into a critical metal sector that IMO is only going to increase YOY. Russell has shown over his career that success is the end goal and with the CEO owning 20% of shares in issue it is imperative it works as he is aligned with us.
The turnaround should be just as quick as the downfall, as soon as the market sees that first cash flow sub £10m MCAP is surely a distant memory, it is how quickly RF can make this come to fruition as we’re currently 12 months behind schedule. Good news could flow imminently – Funding, roadworks commencing, US gov grants, JORC report, DD on plant, restart of offtake agreement, OTCQB American listing, investment from people respected in the field.
IMO – The reward from here for new investors (who have never come across #CRTM) or current patient investors could be life changing. You are essentially benefitting from those selling for being behind schedule. As always DYOR and maybe start here –
https://www.criticalmetals.co.uk/wp-content/uploads/2024/02/AGM-Presentation-2024-Final-Draft-30.01.24.pdf
https://www.youtube.com/watch?v=Baa0m-cfw2M
https://africanreview.com/mining/the-critical-metals-market-all-about-africa
RF has and will continue to keep shareholder dilution to a minimum, was willing to put up his own personal shares as collateral (https://polaris.brighterir.com/public/critical_metals/news/rns/story/x8melow) Has continually said that he wants total issue
RF has and will continue to keep shareholder dilution to a minimum, was willing to put up his own personal shares as collateral (https://polaris.brighterir.com/public/critical_metals/news/rns/story/x8melow) Has continually said that he wants total issue
New Investors – Critical Metals – LSE – #CRTM
52 week High – 30p
52 week Low – 6p
Shares in issue – 67.39m
Current Market Cap - £4.04m
• Production started January 2023
• Stockpiles of current Copper Ore
• Offtake agreement entered – OM Metals - October 2023 (Postponed)
The original off-take agreement
‘As a general guidance for the ore sales price, using an LME copper price of US$8000 and an acid soluble copper grade of 3%, the gross price received for the sale of copper ore would be US$91.20 per tonne.
The Buyer has already taken delivery of the first load of copper ore last week and has a fleet of ten trucks, each with the capacity to transport 40 tonnes of ore.’
The Postponement
After consulting with the management of OM Metals, Critical Metals made the strategic decision now, while the processing plant transaction is under due diligence and before significant deterioration of the road occurs, to further invest in the public road from the Molulu Project during the election and holiday season to ensure reliable ore delivery at anticipated volumes. These road improvements also benefit the local community and form a continuing part of our programme of local stakeholder engagement.
Improvements to the road include additional grading, ground compacting, with a layer of stones to be placed in the areas of water collection and heavy usage. Such improvements include rainwater drainage points.
Once the road is rehabilitated, ore sales to OM Metals can resume and the Company aims to fulfil its off-take contract commitment. It is anticipated that ore sales to OM Metals will restart once the road upgrade is complete. OM Metals has indicated they will purchase as much copper oxide ore as Molulu can produce once the road is ready for the 40-tonne trucks to resume deliveries.
• Production of 10k copper ore / month, simple maths from above (minus transportation) shows the margin that can be achieved.
• Possible purchase of a processing plant, currently undergoing DD.
• Superb drilling results, High-grade copper.
Areas of 29.41%, 14.59%, and 8.88% copper intercepted using XRF.
Advancing diamond drilling campaign in Phases 1, 2, and 4 to establish JORC resource estimation for copper cobalt mineralisation in the area.
• ESG Importance – Building schools, rehabilitation of roads/bridges. This isn’t just keeping the locals/chiefs happy (which is of importance). But would be key in unlocking gov. funding.
Major Shareholders.
Russel Fryer CEO – 19% of shares in issue
Ian Hannam (King of mining?) – 10% of shares in issue
Mark Horrocks – 5% of shares in issue
RF has and will continue to keep shareholder dilution to a minimum, was willing to put up his own personal shares as collateral (https://polaris.brighterir.com/public/critical_metals/news/rns/story/x8melow) Has continually said that he wants total issue
I put a fill order in for 8p because that is coming close I've moved it to 7p.
Make it make sense, you absolute ******.
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.
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.