The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Thanks for flagging this up guys, was bloomin painful early in the week. This has to be 'in the know' buying?
Mrmoagi, the basis of our assumption is that we read the RNSs and multiple of these have indicated we are in negotiation with a CRMC. Below is from 17th August for example;
Two commercial concrete pours carried out by large Cement & Ready- Mix Company ("CRMC") as due diligence towards commercial agreement.
I have also talked with and had email correspondence with Patrick and it is 100% clear he is hoping to do a deal with this CRMC. Of course we all know that this might not get over the line but your post suggests we are all imagining this.
Guys, there are at least two interviews out there this morning for POLB and they cover why ORPH is not doing the HCS for POLB.
The interviews are with BRR Media and Proactive, I follow POLB on Twitter and they posted the links. If folks are invested in POLB it is worth doing that.
Mmm, difficult to answer that one Safe without lots of nuances.
For a start one investors reasonable expectations SP wise is likely to be a huge fail for some investors. It is clear there is a wide range of expectations on what might be achieved in the event of a deal.
Based solely on the current SP then the BOD have not delivered what investors would have hoped for thus far.
We might take a fairer view though and say that PC and the BOD have done well to get us to where we are with a fully permitted CS deposit and negotiating a deal with a Internationally recognised CRMC. It will all now be about if they get the deal done or not and what the terms are; time will tell on that.
Gazzle, don't think it has been discussed. I have seen it and obviously with Aramco's dosh behind it then it will no doubt have some success. What I understood was that it was very much aimed at pre-cast right now so a specific subset of the market.
ProcessGuy, I never heard of a closed period where warrants are concerned. A quick google found below, if you have something that confirms your suggestion would be interested to see it;
Can warrants be exercised at any time?
An American warrant can be exercised at any time on or before the expiration date, while European warrants can only be exercised on the expiration date. Warrants that give the right to buy a security are known as call warrants; those that give the right to sell a security are known as put warrants.
We should get result for year to end September 2021 via RNS next month.
Folks will recall we had £637.8K in cash in half year to end March 2021.
Those who read the results in detail (not many it seems!) will know we burn around £360K per year in admin costs; these are transferred to TYM and include Patrick's wage of circa £80K per annum plus our share of other costs. I have pointed this out multiple times but folks don't listen it seems. PC does take his Directors fees (usually) as shares. Patrick also bought shares directly in previous placings hence his large holding.
Since the end half year in we are likely to have incurred some costs on the small amount of drilling that we did; certainly Bakers but perhaps also Clayton. We have offloaded a few projects and got a bit of money in for those up front (plus shares in the acquires) - but not huge amounts.
My best guess is that in the upcoming results we will have a cash position of perhaps £300K to £400K, bit of guesswork on my part as don’t know the drilling costs.
I believe Patrick said previously that the £1M raise of August 2020 would last us until the end of trial mining. He will no doubt want our cash to last until we do a deal on CS and not have to go back to the Market to raise funds via placing. I guess this would not go down well!
Folks who read my analysis of last years results will remember me noting;
“There was another block of 35M warrants at .195p issued this year on 6th August 2020, valid for 5 years. The Remuneration committee, chaired by Mr Roger Murphy, awarded 30M of these to Patrick – page 22 has details and is described as a long-term incentive plan (ltip).
The warrants cannot be exercised until after 5th August 2021 and half of these (15M) can only be exercised after ‘The Company makes the first sustainable sales of perlite / pozzolan Product from the CS Project’”
If PC has confidence in the CRMC doing a deal with us he could take up the rights to the 15M warrants now as it would bring in just shy of £30K to the coffers and send a confident signal to us shareholders.
Hope folks find this useful, comments welcomed!
Hi comeonsres2, I guess there might be other scenarios.
A really large holder needs to raise funds quickly; for a house purchase, or a divorce settlement or something like that. They don’t know if / when any deal might happen so just decided to sell.
It is quite unsettling though I would agree.
Wonder if the recent tweet was riot reassure us?
When I last spoke to PC it was indicated that should our discussions with the CRMC fall through there would be an RNS to advise as such. The absence of an RNS one would suggest things are progressing still.
Well wonder if MR PC will be heading over the pond soon now US travel has opened up.
Am guessing he will have his favourite pen tucked in the hand luggage ready to sign off on the biggest Pozz deal know to man!
Yeah ok a bit of hyperbole never hurt anyone. More trades than posts here today! .26p to buy and .234p to sell..
GLA
Aurora, here is the link;
https://www.globalcement.com/news/item/13237-cemex-dalmia-cement-and-holcim-among-founders-of-cop26-first-movers-coalition
On BBC website;
The US House of Representatives has finally passed a sweeping $1tn (£722bn) infrastructure bill, after weeks of wrangling between progressive and moderate Democrats.
The long-awaited legislation now heads to President Joe Biden's desk for a final signature.
Let's take a look at the most interesting numbers to come out of it.
There's a proposed $550bn in direct federal spending for infrastructure - about what was spent in 1956 to build the US interstate highway system. But from addressing global warming concerns to remote working issues, this isn't your grandparents' infrastructure package.
Hi Andysel, you are quite correct. The CRMC has a spare grinding plant and it was suggested this could be used in the early days but looking at a bespoke facility longer term. Thus far all the comments around the CRMC have indicated some kind of JV.
I don't think this kind of arrangement would be as bad as some seem to feel it might be.
AIMHO
IMHO how the SP reacts to any news on CS depends very much on the detail.
The better the news then the better the SP will react. I guess these would be seen by the Market to be good things;
1. The CRMC gets named and it is a 'very well known' name that folks will know.
2. That the CRMC will provide all required finance to get us started with mining - in other words we don't want further dilution.
3. We get a 'firm' date as to when product will start being dug and transported to the CRMC
4. We get details about how long any offtake is along with price per tonne.
5. Importantly we get details on how many tonnes per annum any offtake is committed to.
Obviously the above is based on a JV type offtake.
If the CRMC were to want to buy CS from us then it will be all about the amount offered.
As we all know the fine detail has been missing thus far in the progress updates and if that was the case with a deal announcement the reaction will be more muted than it could be.
Time will tell, I just hope we get a deal!!
Hi SGD, appreciate all your research; it sounds like things are moving the right way in the Industry...
As this is the last trading day of October it will be Nov at earliest now for any update unless of course we get an RNS during the day.