focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Terra, no I had said half a penny not 5p previously!! Anything over 1p would be great but as I say the more the merrier.
Just see a Warrants RNS has popped up for us - only tiny amount...
https://www.investegate.co.uk/sunrise-resources/rns/warrant-exercise/202101271206530877N/
Just back from a walk and managed to avoid the ole dog muck using F29's analogy from earlier.
So the bid has raised to .31p but as usual a dummy sell for 1M goes NT and only .3124 to buy right now.
Some goods posts this morning and all polite.
Responding to Moneymaker your comment duly noted, my BS criticism was not really at you it was our friend mrmoagi whom Sam seems to have correctly identified as Aviator from ADVFN and is not the most respected poster to have graced this board previously. Clear from the start he was out to wind up long term holders and is one of those small number (thankfully) of people in the world who wants to think he is superior to everyone else.
Back to sensible folks and to jonjb question about JV versus sale. I have no idea which is the best outcome, it very much depends how much someone would give your to buy out CS. If the money was 'right' then of course for many it would be a good option as they could cut and run or they could wait to see if we have any success with our Precious Metal projects. Certainly if we do a JV then the PM project are likely to be more protracted as it will take some time for CS to get established whereas a lump of money from a theoretical CS sale would mean PC could crack on quickly with any PM prospects that look to be worthwhile.
As for SP targets again who knows, I am well known for under estimating the prospective SP and said at one point I would be happy with .5p. On reflection that was a bit daft and currently hoping for 1p and upwards - but of course the higher the better!
GLA and above is IMHO
Just to support the view from tottyman there is quite a bit of BS being talked by some here.
Some folks seem to be getting confused between share consolidation and dilution for a start.
Share consolidation can refer to a share that trades in a narrow range for a period of time and that can generally be a good thing. It more often though is used as a quick descriptor for what is officially known as a reverse split. See this decent explanation of a reverse split;
https://www.investopedia.com/terms/r/reversesplit.asp
Moneymaker seems to be talking about a reverse split and yes these can be negative for stocks. That might be true but PC has never mentioned a reverse split for SRES and why would he do that anyway as it does not actually raise any funds!
As for share dilution that is a different matter as Companies that continually do placings dilute existing shareholders - we all know that but it is typically the only option for Companies to raise funds before they have a product/s to sell.
I would remind folks we only recently raised £1M (Aug 2020), I point folks to this interview Proactive did with PC in just prior to that where he hinted that there may be an Equity element to mine funding;
https://www.youtube.com/watch?v=NVpVcsRxO6o
PC does though mention that he has had other approaches regards funding options and in the recent December CRMC RNS he says this; "This collaboration is taking place against a background of ongoing offtake and joint development discussions with the CRMC".
You do not have to be a genius to work out what joint development 'might' entail but it really ought to be positive for us.
As I have said many times the key for us shareholders in getting offtake deals for Pozz and Perlite. The Pozz collaboration in particular is key to opening up options to fund the mine build and to grow the Business.
Folks worrying about 'share consolidations' here is a nonsense. Also concerns about dilution seems a tad premature right now when we still had just over £1M in cash as of the results up to end September.
As I say we need to focus on any RNSs about offtake and then everything else will take care of itself as I believe we will JV with a larger partner which will bring options for the processing facilities that PC has described for Pozz and Perlite. It seems clear to me that Patrick wants these to be close to rail links hence why we seem to have dropped Millers.
Good luck
I am no longer invested in TYM (our next door neighbour) but spotted an RNS this afternoon for a £450K placing at .26p
Ordinarily that would see the SP take a knock but oddly the MMs want .329p for £1K of shares which is higher than they were trading before the placing. Make of that what you will!
Back here then I too would be happy with Cemex or Nevada - both are big league players...
totty, personally not sure that this stock is liquid enough for much shorting activity to happen.
I would agree though that the sp action is a bit odd of late, for example if you do dummy buys how much they put the price up when you do dummy say 4M buy versus a 1M buy. If anything it feels like the S.P is being held down (deterring buyers and not offering quotes for sells very often) but I could be wrong on that.
Responding to gshivers as a recent JLP investor.
I read that statement differently to you. It reads like these two Institutions would only invest (add in the case of the existing holder) if they could pick up a certain amount of stock.
Hence ACAM agreeing to that partial conversion of CLNs to free up enough shares for these two IIs.
So not the way round that you read it.
Seems positive to me that these guys were pushing for a certain amount of stock and ACAM must have concluded it was good for their residual holding.
One of the reasons I bought in!
Cheers.
Hi Kev, hard to guess on that. It seems likely Clayton assays will be next RNS and it is possible the market won’t be that excited given it is a single hole so grades need to catch the eye.
I do hope the current SP strength will stick though and ideally push on. Either way Kev you have a great holding and even at 1p that would be a lot of dosh. Good luck to you too.
Foreverhoping, guessing I know who you are and catch up soon.....
Hi Kev, I use Hargreaves Lansdowne and defo find NT many times for a dummy sell and when I have flagged that here I am not making it up.
Right now though it is not an issue as won’t sell any of my holding until Patrick hopefully brings us good news.
All the best....
To add to my last, I just noted that if I click the down arrow more info is given - as I say sorry if posted previously;
MINE PERMIT IS GRANTED
“This positive mine permit decision comes after 2-1/2 years of mine planning, environmental studies and reporting,” said Sunrise Executive Chairman Patrick Cheetham. “We can now move forward with the staged development of mining and mineral processing operations at the CS Project. This is required to secure offtake agreements and the grant of the mining permit will be a major catalyst in this process. The mine permit comes at a propitious time as cement industry demand is growing for natural pozzolan as a fly ash replacement and the horticultural demand for perlite is increasing with the rising cultivation of medicinal marijuana. We believe that this is a major value-adding milestone for the Company and puts the project firmly on the map as one of just a few permitted deposits of perlite and high quality natural pozzolan in the US.”
The CS Project is located approximately 24 miles northwest of Tonopah, in Esmeralda County, Nevada, USA and is held by the Company’s 100% owned subsidiary SR Minerals Inc. (SRM).
The BLM’s Environmental Assessment (EA) for the CS Project is now final. The BLM, having now evaluated the EA, has handed down a Finding of No Significant Impact (FONSI) for the Company’s Mine Plan of Operations and accordingly determined that an Environmental Impact Statement is not required per Section 102(2) (c) of the National Environmental Policy Act. The FONSI recognizes the positive contributions that the use of natural pozzolan can make to a reduction in CO2 emissions in the US as a replacement in the cement industry for the fly ash from coal-fired power stations.
FThe BLM has also issued its Decision Record approving and authorising the Company’s Mine Plan of Operations. This now allows the Company to develop the CS Mine according to that plan and in compliance with the various environmental mitigation measures and best practice measures proposed by the Company in its various submissions to the BLM. The BLM authorised Mine Plan of Operations covers the production of 1,656,000 tons of perlite and 14,523,000 tons of natural pozzolan over a 27-year period.
CONTACT: Patrick Cheetham, +44 (0)1625 838 884
MORE INFORMATION: www.sunriseresourcesplc.com
Nice to see the positivity around today...
Sorry if posted previously but the NPA references us having received our mining permit;
https://pozzolan.org/events.html
Hard to get too excited at the rise when dummy sells go NT...
Wonder if some of the rise is result of sister Company TYM getting pushed.
Seems to me at least that Alan Green (see Brand Communications and Vox Markets) has been hired to 'raise the visibility' of TYM and he has been banging the drum for a while now and finally getting a bit of traction. Could do with some similar focus over here!
I tried to kick off a discussion on the weekend regarding whether folks thought a sale of the Company (takeover) or just of the CS project or a Joint Venture was an option. There is I guess the possibility that PC can raise money some other way to fund CS in the event of a JV or us continuing with the project.
I can't help feeling that Patrick must have whatever deal he prefers tied up as we have commenced work on our other projects starting at Clayton and also have plans to pursue drilling for Bakers and Newark. Plus we now have Sundance as a new project.
Those following TYM will note of yet another new Nevada project (Copper) announced today so PC is definitely focusing his effort and finances on precious metal (PM) projects for both SRES and TYM.
You have to wonder how much of Patrick's time can be spent progressing CS in parallel with these other PM projects. Maybe an option for CS is a JV where we get a nice lump payment up front and then regular revenue with the other party also paying for the mine setup and progressing the project on a day to day basis.
Whatever the path is my main hope is the Market likes the deal and the SP increases a decent amount!
I did a post when we had the recent full year results - in fact it was over 2 separate posts so just check my posting history if you want to see all the details. Part of my 2nd post covered warrants issues in the year and these were based on the placings plus PC himself was awarded a bunch of warrants as part of an incentive plan. So basically this is just Peterhouse Capital exercising warrants from one of the placings - nothing to get excited about but we have a bit more money in the kitty.
>Extract from my post<
No warrants were exercised during the year ending 30th Sept 2020. However a number of Warrants were issued this year – 74.4M to be precise as per pages 40 and 41
Of these 39.4M allocated to Peterhouse Capital who did the 3 placings. So in addition to taking a fee (I believe 5% of placing value) they get warrants which have a 12 month expiry and based on the placing price. I am in the wrong job!
Warrants for the first two of these three placings are comfortably ‘in the money’ and no doubt the next annual results will advise of them being exercised. It seems likely to me that Peterhouse will have been selling the shares they got through the warrants (Brokers don’t tend to keep them) and ‘perhaps’ the sales of 8M shares on 10th Dec at below bid is an example of one of these sales?
As it is the weekend kicking off a discussion under a new thread title but following on from this post yesterday by SGD27;
According to the Final Results (11 Dec RNS)
"We are currently undertaking further mine engineering and financial studies to better define the start-up costs and based on feedback from the potential customers we should be in a position to provide financial projections in due course."
but I suspect the project may be sold before we get to see any of that.
>My thoughts<
Before PC can do the financial projections he needs to know which customers are willing to commit to off-take for both Pozz and Perlite. Forgetting mine build for a moment, if you consider CS 'running costs' based on contract mining then the more 'Product' the contractor processes the better efficiencies in terms of cost per ton. At a simple level if we only had one or two Perlite customers for say a total 10K tons per annum then the rental costs for generators / crushers / screeners (plus digging costs) will be relatively high per ton and perhaps not even commercially viable.
Alternatively, if we can do the ‘initial’ amounts PC previously suggested; 25-40K tons p/a for Perlite and 100K tons p/a for Pozz we start to get decent economies of scale. It suggests therefore that PC awaits the CRMC to advise on their current trial and if they want our product and then he can do the number crunching based on all the demand. I would hope we get to hear the ‘outcomes’ soon and my guess in Feb or March as other posters have suggested.
So we have the perennial debate about what PC would ideally do with the Project given choices (Company sold, CS sold, JV etc). My thought is that we will do a JV on CS and probably with the CRMC that are currently testing the 500-ton Pozz sample. Like some here I can take a guess on who that might be and, if it they are part of a much larger group so ought to be plenty of Pozz demand there! My one query is how the Perlite fits into a CRMC JV scenario.
One final thought. For the recent Project update did anyone else read the update for Perlite and conclude it suggests certain things (anyone join any dots?).
To SGD27, would be most interested for more on why you think there might be a sale of the CS project, who might be a prospective buyer, what would you consider a fair price now we have the mining permit?!
It is the weekend and this is just chitchat so if anyone has thoughts on this subject be interested to hear them, if not just ignore.
Have a good weekend anyway
I see we had couple of holdings RNSs today.
Pembar Ltd down 1% approx and Sebben Investments up 1%
Belgian beers sounds good but off the booze until Valentines....
Thanks DJF, hope this does well for all investors...
Hi Ftsefan, hope Steve17 won't mind me replying.
There are 2 excellent interviews Paul has done with Ian Strafford-Taylor.
You will need to access the Vox Markets website and then click on the 'Vox Markets Video' link top right of the homepage.
Scroll down and you will find 2 longish interviews that Paul has done, one on 1st Oct 2020 and one one 2nd Dec 2020
Both interviews are excellent (respect to Paul) and I forgive him for calling yer man Stafford-Taylor in one rather than Strafford!!
I have invested based on the info in these interviews and done my own research.
Nice to see djframboise here as know that poster from another share we are invested in.
Hope it helps.
Nice post SGD and good to see SRES getting a mention. I wonder if our Jane is aware of the SRES bulletin board and perhaps posts or at least watches. Jane, if you are a lurker here come and join the discussion as seems you do thorough research. Be good if SRES helped you forget about ASOS and who knew what the acronym meant (As Seen On Screen!) eh..
Yep nice to know things are progressing. My guess is several more new potential Perlite customers so we really should be getting the big news for both Pozz and Perl in coming weeks.
Revisiting a previous Clayton RNS I admit I have in my mind been thinking of Clayton as just silver (doh!) and in fact an historic drill had 0.5g/t gold. If our new hole can repeat those old numbers it ought to be commercial depending on scale. Promising that Patrick seems to be excited in anticipation of the assays for Clayton.
GLA