Member Info for Dubliner

Hi 1investor, your post is interesting.
I too was trying to figure what the offloading of two untried projects tells us about possible future plans. I know that you and others for example believe a CS project sale is likely. Notwithstanding the CRMC trials are still ongoing Patrick himself must know what the CRMC have in mind viz a viz buying the project or just committing to offtake. Either option works for me by the way!
Bear in mind that Patrick has already announced we are in discussions with interested parties for Clayton too.
If we were planning to simply sell the CS Project then you would imagine PC would want to use the monies from that to do some drilling at the likes of Stonewall and Garfield (other cats are available!) so does this indicate something?
I like your idea that perhaps somehow we have had an early heads up on Bakers and perhaps the core looked promising or perhaps the results are back with Patrick and he is reviewing before issuing an RNS.
Heck it's a Friday so lets go with a positive thought but I do wonder if we sell CS what the Companies role / focus will be on.

Rod, yes we are too small right now to take all off these on so best to sell on and focus.
It will be interesting to see if he can get a good deal on Clayton and Bakers is an unknown right now but all will be revealed there soon.
Hoping Bay State will come up the list too some time.
GLA

Nice little tick up just prior to the close.
As others have said probably good business to sell these on as we have done minimal work on them and have more pressing projects.
Perhaps more news soon...
(Davis not Davies)

It’s acumen and think Patrick is working on it Safe.

Fax, hate to be a pedant but make it 2.7p (divide £100M by number of shares in issue)...
Would be delighted with that and sure many other here would too...

Totty, actually think Nevada only do cement not ready mix (as Sam pointed out previously). Possibly Nevada are the Company that first tested our Pozz but they have their own Pozz mine/s.
Have a strong suspicion who the CRMC is but might be good policy not to put a name to them in case it messes things up. All the best…..

Thanks for responses. I am not a fan of thread view so switched back to message view having read that Boral thread again.
Basically Boral got an absolute bargain with Kirkland IMHO but that was privately owned and perhaps Boral said take it or leave it and the owners thought 'can't look a gift horse' etc. As I said at the time (pre-Covid!!) a deal like that won't work for us - or at least not at those numbers.

I just did a quick calc on 4p per share (1investor low number) and get a theoretical MCAP of £147M assuming we were simply rated on such a deal. Hard to know what to add in for other stuff right now (Clayton / Bakers etc) - my guess is the non CS stuff right now is not worth a whole lot but that can change obviously (Clayton deal or Bakers assays turn out great).

The calc by Andysel is interesting and if I am honest is more in the ball park that I had in mind should a CS sale be done.
That would put us around the 1p per share mark which I certainly would not turn my nose up at.
If we get a sale and it is anything North of that then there will be quite a celebration at chez Dubliner's gaff.
Time will tell, back to the DIY.

Appreciate your thoughts 1investor and SGD27. The argument about why no drilling kind of makes sense I guess.
Million dollar question - what do you think is a fair / achievable price if you care to take a stab?

Yip Fulmar, thought that was the proper term for them - just googled it and found this..

New Individual Savings Accounts (NISAs) are tax-efficient savings and investment accounts. On 1 July 2014, Cash ISAs and Stocks and shares ISAs were merged into a new single ISA (NISA) with a much higher limit of £15,000 per year

Not to be confused with the low cost supermarkets though!!
Come on SRES let's go!

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...

A little rise here I see, just got bid .236p for 1M on a dummy buy.
Perhaps Terrafin was right!

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.....