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TLM, agreed a great deal, which significantly derisks CRCL with the extra cash.
Initially when I read it, bleary eyed this morning, I thought we had sold out of Mt Weld and that explained why the share price was not doing anything when Riversgold has motored, so was relieved to read on further!
At the end of the day we end up with the same 30% we were going to but get some cash now in what is a tough financing environment. I also have a suspicion the second round of drilling will not be done as the lease, if produces good results now, will be sold.
The Mt Weld project cost us £200k in shares at 0.4p, and we have just sold 20% of the project for more than twice that. Excellent work by the team, let’s hope they can deliver on the other opportunities equally well. Maybe we should initiate a share buy back at 0.33p and make the deal even sweeter :-). .
Same here Mike, this is far from risk free and I have had my fair share of disasters over the years but having sold out last summer at a loss, I am now back with eyes wide open. Current MCAP gives plenty of scope for exciting growth given the multiple irons in the fire.
I suspect currently everyone that knows about CRCL is probably well loaded up, just waiting for some news that will spark new interest. Feels a bit like a shell company to me atm.
Mcfcnige, yes it is odd but I am not unhappy about it. We have a low base atm and the market has had plenty of promises, it will catch up if something finally gets delivered that adds true value. IF Mt Weld delivers indications of REMs in a lease within a few Kms of one one of the worlds largest REM mines it will be an interesting day watching the market playing catch up. If there are no indications of REMS, the anomaly seen in the geophys could still be a deposit of value, time will tell.
I talked myself into the 500k at open, in many ways I prefer the sleepiness atm. Riversgold was up another 8% today. As per the reasoning below the current price is below our corner stone investors recent purchase.
Mcfinge Riversgold are up massively since drilling commenced. It seems the AUS market is taking an interested in Mt Weld as their share price did not move much on their Lithium results recently. Up 25% today.
The beauty of this campaign for us is it is short and sweet, could be worth multiple bags in share price over the next few week and if it fails we are currently below where our cornerstone investor has come in at 0.35p and other insiders at 0.4p, so should not hammer us if it leads to nothing. I personally am loving the current risk reward at this level.
New TR1, and the other RNS now on LSE.
Dream chase, CRCL did release the news, it is an LSE problem where no RNSs are showing for any companies on my watchlist. ADVFN published it.
Drilling has commenced, RNS is out but not showing on LSE yet. Expected to take a couple of weeks.
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4gq7zRj%2Fv%2BV%2B87FiGug%3D
The geological anomaly is described as an absolute ball-tearer, which is good to hear.
ball-tearer
nounINFORMAL•AUSTRALIAN
“something outstanding of its kind.”
The options are at 0.8p, the current share price is 0.315p, so I think Torr is inferring they would need to be well in the money to exercised.
This is from 10 days go so hopefully things have progressed since then.
https://youtu.be/O7vRCoSx2vg
https://youtu.be/uji1ifeyTMs Bullish backdrop for nickel, just need the management to deliver some value inflection points and it could get exciting.
It looks like this link is the one needed to download the whole report.
https://hotcopper.com.au/threads/ann-quarterly-activities-appendix-5b-cash-flow-report.7201741/?post_id=65962951
Page 11 shows high resolution magnetic survey image for Mt Weld
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4g2%2FwRb1v%2BV%2B87FiGug%3D
£2 conviction buy so far this morning. Better foundations are being laid so hopefully achievements in this 1st art will drive the share price.
Thanks, lets hope they we get some cash in from the remaining project farm outs to retire all debt.
Getting hard to follow all this, does that mean we have scrapped the recent financing that caries the warrants and all financing is done at 0.4p?
I am happy with the sale, Burwell was still years away and the more they reduce the debt the more the market can focus on the upside of the projects. The debt is the reason the share price is near zero. With one very significant nickel project and the Mt Weld project let’s hope we get some news flow to get things more interesting here.