Member Info for DRealJohnJohno

That’s correct. Both EIA’s are awaiting approval, they submitted there appro 8 weeks after cmet

I was just being pessimistic really, your right EIA should take this to 40-60MC

Yes definitely and if I am honest I was expecting a drop in SP to around 10ish on the basis of no EIA but everyone who’s in now are not selling as they know it could ( caveat could) do 50-70% on EIA, then further 50-70%% on resource upgrade, then further 50-70% on off take.

In 3 months could have MC of anywhere between 50-80m in my view only. Others will have different view.

@paul not sure if your in the telegram group, but I shared a response I got back from capital metals today. Did not say too much, but stated they are just waiting EIA approval from CCD and other items about the appointment of Stockwell.

Micheal Frayne wants this as much as us as he’s heavily invested, so he is pushing as hard as us. I accept he said “within a month” but that must have been the information he has been given. Why would he try and boast share price with such a statement when he’s in it for the long haul. Not like he’s saying it to boast share price to sell. He must of truly believed it.

I expect they have not realised RNS saying it’s been delayed as there still expecting it any minute. My advice is sit tight and wait for it to arrive. SP is stabilised.

I think he/she is just guessing so if it did happen they can say “see I told you so”. The fact is nobody knows, not even Frayne. We are awaiting on government approval from a minster, it could be tommorow or could be next week.

We are not seeing any major sellers and some big buys over past 1-2 weeks. Share price held well. I can not see any investor taking the gamble and selling at this price when it’s got potential to double on news..

Sit tight and wait…. I do think we will see update this week. Similar to the above, more of a feeling nothing to back it up.

This has been in public domain for quite some time and in fact the EIA referenced in the attached was submitted after CMET EIA ( as I read it whilst it was in public domain for 30 days).

Both are still awaiting approval and I fully expect CMET to be approved first. For the government project they recent issued expression of interest for a future tender https://www2.dgmarket.com/buyerShow?id=7305182 so along with CMET they must be confident the EIA is nearly there which will enable them to go to the market, but both EIA are still
Awaiting approval. This gives me a lot of confidence that EIA is nearly there as why would a government company in lanka mineral sands issue a EOI to market for a EIA which was submitted after CMET’s…. Another positive sign.

Secondly if anyone is interested I have been checking the Sri Lanka cabinet meeting which currently seem to sit every week, next meeting on Friday. I have to admit I don’t fully understand the approval process but I think this link will be where we potentially see this EIA being rubber stamped by government https://www.dgi.gov.lk/news/cabinet-decisions if you look at the decisions on 30th august they recent approved another project number 9. Hopefully we may see output this Friday….

Ref Timmit.

I couldn’t agree more with your statement. This is about an investment. I’m confident in 3 years this will me at minimum 200m market cap. I’m confident the EIA will be granted whether it’s Tuesday or in September.

Why would placer (Richard Stockwell company) agree to a incentive based contract when EIA is not in bag. That’s the first question he would of asked.

Sit and wait. Major investment opportunity .

I think we definitely need to put into perspective that kenmare has a market cap of 450m compared to capital metals of 20m (22 times). Yes it has been in operation for some time and if capital metals in 10 years has a market cap of 20 x my current investment I will retire happy. I’d be happy with 10 times my investment which I think is realistic after few years mining and debt paid.

That’s where I am at. Richards incentives are on upgrade of resource and first production. He has clearly been given confidence the EIA is in the bag, he’s clearly no fool having spent 13 years at the biggest mineral sands company in the world.

I personally can’t see SP dropping even if this goes into September. Why would any in now sell? Only upside for me with news flow.

Minor bit of research on the new additional to the team and as of July 2021 he was involved in mineral sands resource update at https://company-announcements.afr.com/asx/rdg/0a1908a3-da20-11eb-a45d-5e430c7562e6.pdf

Key highlights:
Richard Stockwell at placer has just been involved in this mineral sands upgrade at resource development group ASX, results:

Total Mineral Resource tonnage increased 1,808% from 23Mt to 438.8Mt
? Total Mineral Resource of Heavy Minerals increased 1,467% from 1.2Mt to 18.8Mt
? Total Mineral Resource of Garnet increased 1,520% from 1Mt to 16.2Mt
? 86% of Mineral Resource tonnage (379.5Mt) is classified as Measured or Indicated

With only 5% of the area drilled with further drilling. I am expecting similar results for capital metals

For me it benefits us all. Incentive linked so win win for us shareholders. Great appointment and given his experience in largest mineral sand company in the world. The rest of the mineral sands companies will take notice.

I have just had 8.8k top up. News is coming!!!!

Going over research notes and this one is one of the key factors. Yes you can have a good company but the leader needs to have the experience of implementing a similar project. After Asia energy he went on his own….

“ London Jan 28 (BDNEWS) - Asia Energy's Director Michael Frayne has resigned as he will took over his new role as the chairman of London-based Irvine Energy PLC and Nardina Resources PLC, said a company release.

Frayne joined the Asia Energy prior to its listing on AIM (Alternative Investment Market) at London Stock Exchange and has seen the company grow from an initial market capitalisation of £28 million to about £220 million, a company statement said.

Over the past two years he has seen Asia Energy achieve significant progress towards the development of the Phulbari Coal Project in Bangladesh.

He has been instrumental in guiding the company's strategy and has overseen the capital of £14 million IPO (initial public offering), submission of the Environmental Impact Statement to the Government of Bangladesh and its subsequent approval, equity raising of US$52 million through JPMorgan Cazenove in December 2005”

IPO to AIM- yes
EIA approval- yes
Fund raising- yes.

This is what capital metals will be in 3-4 years ten times it’s current market cap when in full production. Look at these ASX companies https://smallcaps.com.au/mineral-sands-stocks-asx-ultimate-guide/ which vary in size and different stages of project life cycle and it’s clear how under valued capital metals are…..

Increasing confident… Micheal frayne is invested heavily and has done it before with Asia energy.

Currently 14p average @paul which could be better. I averaged down at the wrong time and cash dried up. Still have bit more but waiting to see where we go this month.

I know this will hit 40p very soon (this year easily) it’s just how greedy I want to be to average down.??

I only have three stocks in portfolio and this is biggest one by long way.

What you averaging at now Paul? I am thinking of going again to get the average down

All public sector employees been ordered back to work from Monday which probably aligns with Micheal Frayne suggesting the EIA is expected in August. https://www.ft.lk/ft_tv/All-Public-sector-employees-called-back-to-duty-from-Monday/10520-721119 Great end to the week on no news really. Wait till the EIA actually lands, offtake agreement in place, upgrade in resource. That’s when we start to see re-rate

Just seen this article…

I am predicting a late August approval. Based on:

- Damsila exports and capital metals continue to promote which can only be seen as positive sign as they start building a presence.
- government has predicted 72% of those above 30 years or 8.28 m people get vaccinated; entirety of 11.5 m of this age group to be fully vaccinated by end-August or early Sept meaning meeting will continue. Yesterday over 500k where vaccinated which is highest total yet
- fully vaccinated passengers can now enter the country, meaning Micheal Frayne or others can start entering the country to push this forward.
- surely a decision is pending and the GSMB and environmental minster have had meeting as documented by media so this discussion must be happening. Also let’s not forgot there is a state owned mineral sands company who undertake this activity and also have a pending EIA approval which they have issued expression for interest to the market.

I expect market update next with confirmation of decision date.

This is just bit of fun and only my view and guesswork.

I am frustrated as anyone. I just can’t understand why any investor would sell at these prices but maybe I am missing something.

No TR1 have sold out and Micheal Frayne is heavily invested here also so we all want the share price to go up.

We just have to sit tight and trust the process of why we initial invested. It will not be the covid situation holding this up now it will be getting through the government process.

What I did notice is Lanka mineral sands who submitted the EIA after capital metals released an invitation to tender https://lankamineralsands.com/news/ last week therefore I expect although they will be in similar position to capital metals with no approved EIA they are confident in the progress made…