Member Info for Dubliner

I agree with you Daddyk - let's see how it goes.
I just forwarded my registration and seems these need to be approved. I think if your email address contains the phrase 'safe' you won't be allowed in - joking!
GLA

1investor - thanks and generally agree with you wider point that this issue can be resolved and there are lots of positives still.
SGD - thanks and some good questions from you there - nice and straightforward.

Horlety - You said;
"More likely our crushing and screening contractor is overwhelmed with the orders from the regular customers"

My understanding is that most of the expanders who we are dealing with are being serviced by a single upstream provider who has their own Perlite mine and will have no doubt their own crush/screen equipment.
How busy Kimball are IMHO is not linked to how busy the Perlite expanders are. The kit we are hiring is general mining equipment and not Perlite specific. I just guess Kimball are busy full stop.

Many moons ago PC told us the driver/enabler to us supplying to multiple expanders is that this last remaining Perlite supplier to these multiple expanders is setting up their own downstream expanding Operations so would be in competition with them.
I would love to know more about the state of play in this regard. Is their existing supplier still willing to supply them or not? If they were still willing to supply then you might question why the expanders would wish to switch to us as a supplier of their Perlite. If their current supplier is planning to stop supplying them have they given notice of that?
I would love Patrick to provide a current status update in this regard because whilst I accept these expanders are pretty busy right now they don't seem in any hurry to test our product!

oops sorry for the double post - I took a phone call at home and when I got back the post I made was not there so I tweaked the word version I had made slightly and re-posted. Sorry!

Thanks 987 for the compliment and hope you are well....

If I can hog the floor for a little minute longer please.
One other observation I would make is this.
In Tuesday’s RNS Patrick said;

“The supply of a coarser particle size can be resolved with small adjustments to the crushing and screening process but in this case only 100 tons of material was available for processing and there was insufficient opportunity to optimise the crusher and screen settings”

He then says;
“The Company is now working with its crushing and screening contractor to modify the processing circuit to achieve a coarser product for further trials. The contractor has indicated that a process plant should be available for late March/early April. A larger bulk sample, 200 tons of raw perlite, is already on hand for this work”

These statements seem to be a little at odds with each other where one minute we just need small adjustments and then talk about modifying the processing circuit and a date that is at least 4 weeks hence.

I have worked out for some time that this test processing kit was not setup at our CS site. In fact I believe it was setup at the location of our mining contractor – the guys who dug the Pozz and Perlite bulk samples for us. A reasonable deduction is that the Perlite processing kit was taken away from the Contractor site (by Kimball I guess) after that 100 ton was processed and now we have to wait for another month for them to deliver similar kit back to site.

So once again we are back to waiting and it feels this could have been avoided. I repeat again my frustration whilst still holding a reduced number of shares here. I really hope that PC puts his best foot forward in the webinar next week and injects some enthusiasm to rally us shareholders or I will consider selling my remaining holding.

Thanks 987 for the compliment and hope you are well....

If I can hog the floor for a little minute longer please.
One other observation I would make is this. In Tuesday’s RNS Patrick said this;

“The supply of a coarser particle size can be resolved with small adjustments to the crushing and screening process but in this case only 100 tons of material was available for processing and there was insufficient opportunity to optimise the crusher and screen settings”

He then says this;

“The Company is now working with its crushing and screening contractor to modify the processing circuit to achieve a coarser product for further trials. The contractor has indicated that a process plant should be available for late March/early April. A larger bulk sample, 200 tons of raw perlite, is already on hand for this work”

These statements seem to be a little at odds with each other where one minute we talk of small adjustments and then talk about modifying the processing circuit and a date that is at least 4 weeks hence.

I have worked out for some time that this test processing kit was not setup at our CS site. In fact I believe it was setup at the location of our mining contractor – the guys who dug the test samples for us. A reasonable deduction is that the kit was taken away from site (by Kimball I guess) after that 100 ton was processed and now we have to wait for another month for them to deliver similar kit back to site.

I am currently invested in other Companies that seem to achieve so much in short time periods but everything here takes ages. I repeat again my frustration whilst still holding a reduced number of shares. I really hope that PC puts his best foot forward in the webinar next week and injects some enthusiasm to rally us shareholders.

Hi Safe,
Good to hear that you plan to take a more pragmatic approach to understanding developments at Sunrise. You also said this;
“I did not see any suggestion in the RNS that the appointed contractor had messed up”

Ok from the 27th October RNS PC said;

A. “The Company has recently contracted Kimball Equipment Company of Reno, Nevada to supply and operate a mobile crushing and screening plant to process a 100-ton bulk sample of raw perlite from the Company's CS Project”

B. “The plant will comprise a crusher, high frequency screens and associated conveyors and will be a basic version of the plant that is proposed for the initial production facility”

C. “The perlite bulk sample will be processed into two separate size-grades of horticultural raw perlite. Interest in a new source of raw perlite has been very strong and material will initially be sent to five potential customers who will expand the raw perlite in their commercial facilities. Plans to supply additional customers are in progress”

It is clear what Sunrise expected in terms of the Contractor processing the raw material and providing 2 different grade sizes.

In Tuesday’s RNS we had this info;
“The Company's testing and analysis shows that during the crushing and screening process carried out by the Company's contractor the screens operated inefficiently resulting in over-crushing of the perlite and the inclusion of too much fine perlite in the products and that this is likely to have adversely affected the quality of the expanded product. The supply of a coarser particle size can be resolved with small adjustments to the crushing and screening process but in this case only 100 tons of material was available for processing and there was insufficient opportunity to optimise the crusher and screen settings”

It seems clear to me that whomever operated the crush/screen plant (presumably Kimball) did not have the settings quite right. We probably did have in the samples some Perlite at the correct size. But due to screens not being set/working correctly it seems like some over crushing happened and some finer material got through the processing. It is a bit like the cat litter we use at home, there are typically large granules but also some much finer ones.

My issue is whether SRES had anyone overseeing the processing to check the produced material looked correct. It feels to me that the Contractor knew things were not quite right but sent the stuff out anyway,

Safe, another point. I believe in the past that you have complained at Sunrise sending out Pozz and Perlite samples free of charge. Perhaps you will now look at things in a slightly different light. This customer spent time and effort/cost (heating our samples would not be cheap) testing what we supplied and it presumably cannot be used or is sub standard. If we had charged for this material I think the customer would be mightily cheesed off.
GLA

Totty, the 100 ton of perlite was sent to 5 customers per 27th Oct RNS;

100-ton bulk sample of perlite to be processed at the end of this week..
· Approx. 20-30 tons of coarse horticultural grade raw perlite to be split between five different customers across the USA for expansion testing.

Totty, no the 500ton sample was for Pozz. That is just a case of dig and deliver, the Cement Company will grind it and they will do that end March as per RNS today.

The sample that got messed up was the 100 ton sample which I think we mined a little while ago.
We have mined a 200 ton sample since and I don't believe they have processed (crush / screen) that yet but no doubt they will be to fix the problem.

I do hope many folks here raise questions when Patrick provides the details and I hope he will group them and respond to all even if for some he says; 'sorry can't answer that for commercial reasons'

Mmm, what to say about this RNS!

For Pozz whilst disappointing I accept the delay in the CRMC processing the bulk sample. When I recently contacted the Company with queries it was pointed out to me that it is not a trivial matter for big Companies like these to switch off their normal process flow to test new stuff.
The fact they want to test the product on a large scale is the positive although we would all have hoped for a quicker timescale. The additional testing we did with the sub sample sounds promising.

Perlite is the disappointment for me. I would love to know who did not do their job properly – was it Kimball who I believe were to supply and operate the crushers/screening kit. It seems from the RNS wording that they knew things were not right;

“The supply of a coarser particle size can be resolved with small adjustments to the crushing and screening process but in this case only 100 tons of material was available for processing and there was insufficient opportunity to optimise the crusher and screen settings”.

With benefit of hindsight we should have taken a bigger sample than the 100 tons so they could mess around with the settings and get it right first time? Did we have anyone representing SRES to check things before we went to the expense of sending out the material? We supplied good stuff previously so we should know what good looks like! I guess it all proves previous comments from PC that these are performance materials and we did not get it quite right this time at least for one potential Customer.

I am pleased at the opportunity of the webinar / presentation and chance to raise questions and believe my recent letter flagging disappointment at a lack of clear option for raising questions at the AGM was a catalyst in this. I will be starting to think of pertinent questions and wondering how many will get responded to with; 'sorry can't answer that due to commercial sensitivity etc'

Question 1 for me is ok we can't know the CRMC name yet but if our 498 ton sample is crushed and trialled on real life jobs (and assuming they love the product) how much of the forecast 100k tons per year initial Pozz production might we expect them to order?

Question 2 – are we dealing with more than once CRMC and if so what stage are we at with any others?

At least it was good the RNS ended with positive news ref Baker’s drilling, we can only hope something goes our way for once!

Trek, agree looks very promising. A quick thanks from me as I came over here after reading your post about it some time ago on ORPH. I also bought into CCZ although since left there after making a quick buck (not happy with some things there!).
I of course did my own DD but appreciate the pointer for ONC!

Hi SGD, thanks for posting that, so it seems perhaps 'new news' and perhaps was worthy of an RNS. Trust you are well.

Jonny, I am a twitter virgin - lots of dross on there but you do end up following some electic stuff. I go from shares to horses to travel writers and back again most days!

No the headline is not reference an American R&B singer but regards a tweet SRES just put out;

https://twitter.com/sunriseplc/status/1363816708063039489

"Our Jackson Wash Project is 16km away from the NewPerl Project in Nevada. These claim blocks were originally part of the NewPerl Project but for permitting reasons have been split into this separate project.
...Test results indicate a significant level of perlite"

Some less charitable than me would probably ask;
A. Why this is not RNS'd
B. Is there much joy to be gained from Jackson Wash having lots of Perlite when we don't yet seem to have done any deals with our CS project Perlite.

Just me being frustrated I guess and just as well other shares are keeping me busy.
GLA

Lotus, not trying to be an smart but you are not quite correct there it is Perlite that is good for cannabis growing. Pozz is used to make concrete. Recommend you look at the presentation on the SRES website. Good luck to you.

Just offered 14.53p to sell (25K shares) and NT on buys of any amount.
Seems like MMs keeping the spread wide to disguise this rise.

I came across the below article whilst reading something on a different board.
I found it quite interesting but ignore if you have seen this before;

https://www.theassay.com/articles/how-palladium-and-platinums-success-is-linked-to-electric-vehicles/

Hi Justone, I listened. Wonder if he thinks we should be buying gold!!

Actually very interesting and sounds like Silver is going to be very much in demand too so fingers crossed on Clayton assays.

Nice comments guys - Sam very funny and Treestump - yes should not wish time away.
Just back from picking up bags of farmyard manure; 10 mins to collect and 1 hour to clean the car coz I did not put a sheet down - doh!
Sorry for off topic rest of readers but nice to have a break from the speculation here.

Picking up the philosophical angle from the other guys. I am 58 this year and been in SRES for far too long. Seeing a wait of several months for assays for 1 bloomin hole (even though my main focus is CS) does make me think mining stocks are not something I want to invest in moving forward. Whatever happens here (and hopefully a good outcome) I will be looking at investments with shorter horizons.

Wishing all a nice weekend, weather is great outside here...

Justone, I retired / semi-retired (TBC!) in early October.
The winter weather has stopped me from doing the DIY stuff which I enjoy and and of which there is always plenty to do (think Forth Road bridge) so just daily walks and watching shares at present. Am just beginning to get bored of doing the latter now and wishing the days away until Spring when things warm up.
Good luck with your retirement and investments and hope KIBO comes good for you.

Hi Justone, I have to say I like your measured tone and analysis here. In fact looking at your posting history has piqued my interest in Kibo where you suggest you have a lot invested so will take a look over there sometime.

For SGD27, thanks for your reply the other day - no worries.

The markets seems to have cooled a tad in the last few days (along with the weather) which is no bad thing - can't help feeling some bubbles will burst at some point though.
Good luck to all here.

I watched the presentation too and have read some very good notes / summaries here.
One thing I scribbled down, and following Crusader5 comment, was Cathal said 'Seek are talking about a monster deal' and he said something like let's see what comes of that. It all sounds extremely positive.