Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Read this article last week which refers to
Minsters having on going discussions which I anticipate is in relation to Cmet. Positive to see political pressure being applied which would support capital metals intentions of dredging the port
https://www.themorning.lk/oluvil-harbour-billions-buried-under-the-sands-of-time/
Great post Paul.
It’s so close to news. Put it in the top draw until January and by then I’m expecting EIA/Mining lisence/ off takes.. three big items of news that should see the Mc shift significantly
TEC meeting undertaken in July which is real positive to know it’s on its final approval. It’s surprising there still intending on planning for production in Q1 2022.
Paul,
Two interesting article just read:
1. https://www.dailymirror.lk/latest_news/State-services-to-resume-from-tomorrow-Janaka-Bandara/342-221438
2. https://www.dailymirror.lk/latest_news/Parliament-to-meet-five-days-next-week/342-221470
Both highlight the main government and local government departments are open from Monday full time. Previously cabinet was only sitting once a week.
Let’s hope this is the start of news flow.
From reading this article the environmental minster has visited a village in Eastern province which is capital metals area and has been quoted saying that
Minister Mahinda Amaraweera said “A large scale sand mining is being carried out in Neelapola village,” the Minister said.
I expect when he is being said they should give priority to the villages he is referring to jobs. If that is not a good sign that the EIA is in the bag I don’t know what is…..
https://www.dailymirror.lk/breaking_news/Prioritise-issuing-sand-mining-permits-to-villagers-who-depend-on-it-Amaraweera/108-221214
There is lots of media articles around mineral sands following the cabinet meeting last week. All positive about exploring the asset more in Sri Lanka.Surely this is positive news and may be why there has been some delay https://www.ft.lk/front-page/Govt-to-maximise-productive-use-of-mineral-resources/44-723090
I have seen many comments on this “it will be here within a month”. Many people have viewed this in many different ways in what was a interview not an RNS. Yes he should know better, but he may of been of the view it was nearly there and I expect everything that CMET can do they have done and are waiting on a minster signing a piece of paper.
Working in projects, there can be delays outside of the “projects control” that you just have to deal with. In particular in a country that his not his native language. This is with the government for approval and they will approve it when they feel like it, yes we can apply pressure but this needs to be done in a controlled manner.
Don’t get me wrong, I like many others would love an RNS saying EIA approved, but I also don’t want one saying it’s nearly there. (No news as we know that).
I would be more nervous if this was new company drilling and pumping results. We are on the verge of significant change, from development company to a company bringing in revenue once construction starts.
Just sit tight, trust the process of why you have invested. Me personally, I am putting this away in draw and I will check back in late November 2021.
All the best
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…..