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I still think it won't be a sale but a big offtake order from the CRMC and that should put rocket under the SP.
I just wonder if there was going to be a sale would they have done bit more drilling in NE zone so we get paid for all that we have?!
Either way it would be good. I added to mine and my wife's NISA accounts this morning...
GLA and have a super B/H weekend....
Sorry that should have read dummy sell of course.
Fax, too early to think about what we might have at Clayton and Bakers. Clayton shows some promise hence interested parties and will need a lot more drill holes. For Baker's we need to see what the assays show there...
Firstly a great write up by 1Investor earlier and it seems just before the half year results RNS.
I had predicted that we might have more than £500K left by end March and in fact the position was £637K including a bit of money for some warrants exercised. These funds should last us at least another 6 months (and probably a tad more) even allowing for the small amount of drilling at Bakers. In that time-frame things will be much clearer on many fronts.
I notice the results even tempted one poster out of recent retirement so they must have been good!
I will re-read the results again but liked the Perlite testing update (one of the testers is happy with the product) and the hint we might be looking at doing something to address the Industrial and Construction areas of Perlite supply.
I also note the comment that the grinding facility at the CRMC is a temporary plan with possibility of a bespoke production facility being built in time. I could imagine a future scenario where the Pozz and Perlite fixed processing facilities were co-located (near rail facilities) and wonder if the CRMC have existing space for this under the 'Joint Development' discussions.
GLA
We got the half year results RNS on 29th May last year so would expect them next week or a week on Monday.
These will show the cash position as at end March 2021 so that will include Clayton spend and G&A but the Bakers drill costs will not be in that period - obviously. I am hoping we still have minimum of £500K left.
PC won't spend any more on the PM projects than he needs to; drop or sale/earn in if they have promise.
Responding to tottyman's comments. Yes the RNS does indicate the 500 ton sample only just got ground, it was expected end March but it slipped for some reason or other and we will probably never know that. I guess all Patrick can do is advise when he expects things to happen - he is though reliant on partner Companies so things can go awry as happens often in life.
Hi mrmoagi, not looking for an argument but wonder if you have a link/s showing fly ash at $200 p.t as that would be an amazing prices and way more than portland cement itself.
Worth pointing out that our resource size is based on a relatively small number of drill holes and there are I understand several areas that we can extend into including the NE zone which I recall Patrick suggesting was potentially half as big again as what we have.
As noted by some SP disappointing today - I just added 1M at .2505p and closing in on a nice round number now....
Sorry to post again but I note that Zak (see Vox website - Traders Cafe part) has featured SRES today and suggests a target by end of next month to be in the .40p area providing we don't drop to low .2s - this is only if you are interested in TA stuff...
All grist to the mill...
Yip it's around 100k tonnes that each of the 2 cement/crmc potential customers use - and whilst not stated it is assumed this is their own Pozz demand. Listen around 38/39 mins into the webinar. As I said though these guys may want to supply other customers.
Torre, the margin is probably very healthy. Assuming we did a JV and we pay a 3rd party to contract mine (dig) and then we pay for trucking (the biggest cost element) there must be at least $40-$60 margin per tonne but this is somewhat educated guesswork.
Why are we at this SP - because there is many a trip twixt cup and lip - until we have a signed deal then all is speculation.
The thing to bear in mind (mentioned in the Webinar) is that this customer is potentially looking to not only use our Pozz for their own ready mix customers but to supply other cement and ready mix Companies too. I believe that PC mentioned 100K tonnes per year of Pozz/fly ash is what they already use themselves - I need to listen back again.
Given that we have the product and the mining license it does not seem unreasonable to expect the CRMC (assuming the trials go well) to fund the mine setup and that should not be big bucks. Their contribution is the grinding facility and Customers but hopefully some cash too.
If we start with Pozz only then it is just dig and truck to the CRMCs 'surplus clinker milling facility' - should be minimal cost to get that underway (contract mining) and also quick too.
Assuming they do the test pours soon then add 30 days for curing and providing we have a tick in the box then we can get going.
Interested to speculate what the first Cement Company we supplied will think of things and whether a JV with potential CRMC customer puts paid to any dealings with them.
I am pleased I dived in this morning and bought lots around .25 and .26p - it felt like an opportunity not to be missed.
We will be getting half year results soon and will be looking closely at cash position...
GLA
As Terrafin says this is great news. The due diligence comment and the site visit suggest that providing the test pours go well that a JV (or a sale) of CS with an Internationally recognized Company is very much a done deal.
I have added quite a number this morning as you are getting to buy these around 10% below the last placing price - with today's news that is a bargain that ain't going to be around for long..
ring, I would not be unhappy if CS were to be sold providing they got the right money for it. An ideal outcome would be that we also hit something valuable in Baker's project and if we sold CS that we could get a one off cash dividend and rest of funds go into the other projects. Those that don't want to stick around then can then sell up I guess...
Right now that is just wishful thinking though as no idea if a sale of CS is possible.....
Mmm that 42.5M will trade is defo not me!
As for speaking to Patrick, I did that prior to the webinar if I recall now and was told nothing that is not already out there although of course I did flag my concerns about the Perlite processing misshap.
I already declared I have reduced here to de-risk my investments.
GLA
Hi Bumbling. Actually I believe Min does have the number of shares he said.
Min was buying shares very regularly over multiple years and posting at the times he bought.
I hit a peak of around 67 million (half in wife’s account) back a couple of years ago but had to dramatically reduce due to things going wrong on another share (HUR for the record). I would still be delighted if things come good even at reduced holding.
We must get news some time soon eh!
Min the penny has finally dropped. Your Nevada mates were commenting that the Aboriginal folk only let people on their land if they have a permit and providing they get to do the drilling job.
I apologise for querying.
Hi Min, I am a tad confused on your last post.
The first sentence did not make sense for starters.
Confused by the second sentence too as your friends are in Nevada but the Bakers drilling was in Australia - perhaps you can clarify please?
I guess after the palaver at Clayton regarding ‘poor core recovery’ statement (and associated misinterpretation around that) Patrick decided to just provide the bare information here.
Personally I am very happy that this drilling completed quickly and we should know outcome by end of June. Who knows it might just be we hit something worthwhile/valuable.
Patrick is obviously not willing to add CS info to this RNS so make of that what you will.
GLA