Member Info for ART123

Vol Sold 27,513

Vol Bought 2,407,850

Vol Sold 27,513

Vol Bought 1,760,080

Eva Pacific Pty Ltd

Governor Phillip Tower Level 36,

1 Farrer Place Sydney,

NSW 2000, Australia

That is for 20 million shares - just over 3% - and as the placing was just between 2 institutional investors then the other as yet undisclosed party must now have the other 30 million - 4.5%.

So much for 'churning through the placing shares'.

It's crashed the TM1 share price though, which is a shame as it was just going up after the interview. It's gone from 13% up to 4% down.

However it is nonsense for a small raise - about 5% dilution - to wipe so much value from a m/cap so I would expect the CRML share price to get back to 8p+ within the next week or so.

Taking the previous close at $8.72 and allowing for the small dilution - $22.5M against a $706M m/cap - the share price of CRML should be about $8.26. I would expect it to get back to the recent levels by the end of the month anyway.

Quite absurd!! It looks like a $22.5M placing has wiped nearly $300M off the CRML m/cap. 90 million shares before the placing which is for an extra 4.5 million.

Helium potential MOU-5 prospect at Guercif

· MOU-5 will test effectiveness of a potential He charge and retention.

· Potential in-place helium of 104.31 to 598.88 BCF

The potential conventional prospective gross recoverable gas resources for the primary reservoir target in MOU-5 were previously reported as being 5.916 TCF (P50 upside case), as announced on 8 August 2024.

Potential gross estimates of in-place He for the P50 upside case are 104.31 BCF based on a global averaged scenario of 1.298% He and 598.88 BCF for the P10 upside case based on a global averaged scenario of 4.066% He.

Got to be at least 7.5p on spud - if not more.

I reckon the MM's have let buyers in cheap today with the MOU-5 'Titanosauros' due to spud this month. What is the target for the SP prior to spud? 7.5p? 10p?

I'm in at 4.2p. Currently 4.3p to buy and 4.292p to sell so the MM's don't have any stock for the stream of buys so this should rise back up today, expecially if the new shares have been taken by 2 institutional investors. All good.

0.25p to sell now - and all the podcasts in the world won't improve this.

Oh, and the poor grades are obviously the reason why the share price is hovering around its all-time low.

I repeat this:

"And no, they won't be issuing a mineral resource estimate by the end of Q1 because as yet there is nothing to comprise a MRE. Even at Alphamin, they needed the very high-grade intercepts (ie. 16.01m @ 22.5% Sn and 12.5m @ 10.93% Sn) to come up with an overall resource estimate of around 4% Sn (tin)."

May 11, 2016

The updated Mineral Resource includes:

-- Measured Resource of 0.46 million tonnes @ 4.31% Sn for 19,600

tonnes contained tin using a 0.5% tin cut-off grade

-- Indicated Resource of 4.14 million tonnes @ 4.55% for 188,400 tonnes

contained tin using a 0.5% tin cut-off grade

-- A 34% increase in contained tin in the Measured and Indicated

Categories from October 2015 Mineral Resource Estimate used for the

FS study

-- Inferred resource of 0.54 million tonnes @ 4.25% Sn for 22,800 tonnes

contained tin using a 0.5% Sn cut-off

As I posted, even with the super high-grade intercepts the overall grade of Sn was between 4% and 5%.

These grades are rubbish:

KBDD009: 5.5m at 0.89% Sn from 102.5m including 2.4m at 1.39% Sn from 105.6m;

KBDD010: 0.9m at 1.28% Sn from 137.5m;

KBDD014: 2.85m at 0.45% Sn from 24.6m and 3.9m at 0.38% Sn from 32.09m including 2.27m at 0.51% Sn from 33.0m in.

There have been 3 sets of drill results issued so far after 6 months of drilling with 3 or 4 rigs on the go non-stop and all 3 sets of assays have been very poor - hence the share price drop.

These are some of the historical grades from Alphamin:

MAY 11, 2016

Significant new results included in the Resource Estimate from infill and deep drilling at Mpama North included:

16.01m @ 22.5% Sn from 387.45m including 6.95m @ 38.45% Sn from 390.25m

12.5m @ 10.93% Sn from 336.7m including 2.25m @ 49.87% Sn from 346.95m

13.8m @ 7.53% Sn from 317.65m including 4.5m @ 19.74% Sn from 324.2m

15.85m @ 6.09% Sn from 399.5m including 3.75m @ 18.11%Sn from 409.25m

26 April 2022

Mpama South high-grade assay results received, including:

BGH110: 17.5 metres @ 5.57% Sn from 459.2 metres, including 8.6 metres @ 10.35% Sn from 468.1 metres, the best intercept to date;

BGH111: 15.3 metres @ 4.37% Sn from 334.4 metres,

BGH107: 7.2 metres @ 6.0 % Sn from 496.9 metres, including 4.0 metres @ 10.31% Sn from 498.2 metres

BGH104: 16.2 metres @ 3.01% Sn, including 5.75 metres @ 6.94 % Sn, both from 459.4 metres

Mpama North high-grade assay results received, including:

MND019: 14.4 metres @ 21.75% Sn from 432.2 metres, including 6.8 metres @ 40.57% Sn from 436.4 metres

MND020: 14.4 metres @ 5.92% Sn, including 11.0 metres @ 7.51% Sn, both from 484.9 metres

Am I the only person who can notice the difference???

And no, they won't be issuing a mineral resource estimate by the end of Q1 because as yet there is nothing to comprise a MRE. Even at Alphamin, they needed the very high-grade intercepts (ie. 16.01m @ 22.5% Sn and 12.5m @ 10.93% Sn) to come up with an overall resource estimate of around 4% Sn (tin).

Oh, and if, as it would appear, the super grades are to be found at a much deeper depth - ie. at 300 metres to 500 metres - then why don't RMR drill a target deep hole to see if they have the same results at their new prospect as there seems to be very little point in spending any more time and money at these shallow depths.

ATB

I seem to remember that CORO put the value of their 15% stake at about $70M so the two together would be worth in excess of $100M. And both of these companies are going broke in the meantime waiting for the farm-down which is just taking forever.

I don't even know how the farm-down will work for EME and CORO. I don't know why they don't just get together and put their joint 23.5% stake in what is agreed to be one of the hottest gas discoveries in South-East Asia which is also the hottest place for gas on the whole planet.

T

Yes, it has all just gone belly-up because the GSA and farm-down of the Duyung discovery has taken so bloody long. It should have been completed ages ago. EME have lost their South China Sea prospect and CORO are in danger of going bust when between them they are holding a 23.5% stake (EME 8.5% and CORO 15%) in a huge confirmed gas discovery.

But please don't let me put you off all of your ramping. If the share price rises by about 5 or 6 times I will be able to exit with my money back, which is about the best result I could get here. KEEP RAMPING PLEASE.............

Also from the Final Results dated 1st September 2023:

Sacramento Basin, California USA (EME 25-30%)

· No work was conducted on the project during the year.

--------------------------------------------------------------

Also from the Final Results 16th September 2022:

Sacramento Basin, California USA (EME 25-30%)

· Evaluation on the project is ongoing and the Company will continue to work with its joint venture partners in reviewing and assessing any further technical and commercial opportunities in Sacramento, particularly in light of strong gas prices.

---------------------------------------------------

From the Final Results dated 26th August 2021:

Sacramento Basin, California USA (EME 25-30%)

· Empyrean elected not to participate in Borba drilling program which was conducted during the reporting period.

-----------------------------------------------------

From the Final Results dated 21st August 2020:

Sacramento Basin, California USA (EME 25-30%)

· COVID-19 travel restrictions and uncertainty of being able to execute a drilling campaign safely and without interruption led the joint venture partners placing the intended drilling at Borba on hold until the United States situation normalises.

------------------------------------------------------

From the Final Results dated 9th August 2019:

Sacramento Basin, California USA (EME 25-30%)

·; Natural gas sales initially commenced at Dempsey in July 2018;

·; Subsequent water ingress into the well resulted in the well being shut in for technical evaluation to determine the zone from which the water was entering and to provide for forward program alternatives; and

; Technical evaluation including comprehensive sub-surface analysis continuing to refine program at the Alvares gas project and the prospectivity along the "Dempsey trend".

----------------------------------------------------

There seems to be a general theme here: nothing is going on!!!

From the Final Results dated 1st October 2024:

"Empyrean also has a 25-30% working interest in a package of gas projects in the Sacramento Basin, onshore California. While no activity occurred during the year Empyrean will assess the technical and commercial merits of other prospects or proposals as they are presented."

These prospects which were acquired in 2017 in the link I provided earlier and created a lot of interest in 2017 when the Dempsey prospect was drilled but despite the enthusiasm nothing seemed to be successful. Finally, the drilling in California seemed to peter out over the Covid restrictions, by which time EME were choosing to opt out of the drilling options. From the Interim Report 26th August 2021:

Sacramento Basin, California USA (EME 25-30%)

· Empyrean elected not to participate in Borba drilling program which was conducted during the reporting period.

Yes, the California Gas Prospect is definitely finished. It is all over. This link below is from the farm-in to the JV:

https://www.lse.co.uk/rns/EME/multi-project-farm-in-sacramento-basincalifornia-aofplfjhuusovrt.html

but if you bother to read the subsequent RNS's from the next few years you will see that it was not a success. And as I just posted, Sacgasco, which I seem to remember stood for the Sacramento Gas Company, are now the Australian Oil Company Limited.