Member Info for Dubliner

As expected the Permit has slipped into early 2020.

Thanks Sam for the NEPA info....
At the risk of repeating myself from a recent post/s. We are due end of year results probably a week on Wednesday.
I would be very surprised if Patrick was to use the results update to bring us up to date with what has happened since the updates late in September so I am expecting something perhaps later on this week.
I just wonder if he is hoping / waiting for us to get onto that Planning office list so he can at least say we are in the very late stages of the permitting process even if we it will now be into perhaps Jan for (we hope) signoff.

Biffadog;
"Personally, I can't see any negative aspects to Spirit being sold off to reduce Centrica's significant debt pile, far from it"

It is not a debt pile it is a debt anchor...

rodster as always succinctly put and absolutely spot on the permit is the key to unlock everything for us.

Jerry sure no worries. Am not sure how Cornerstone got to their 15% valuation as they would need to minus the value of our other assets. 15% of our current MCAP in CAD would be a tad over 90M Canadian I believe.

I spotted this question and as it is raining thought 'what the heck'..

If 15% is valued at $69.7M then SOLG 85% is worth $394.6M
SOLG current MCAP = £362M which is $463.36 at 1.28 dollars to the pound...

I am currently a minor holder here so hope they do well..

My take on the Director fees FWIW
We have 3 Directors. Patrick Cheetham, David Swan and Roger Murphy. David and Roger are non-exec Directors.
Director fees (these are not salaries) are £12K per year each, paid every 6 months so £6K falls due for each at end March and end Sept each year.

The older RNSs issued regards the fees used to say; 'the directors of the Company will be receiving their net fees in Ordinary Shares of 0.1 pence each in the Company' etc.

Yesterday's RNS said; 'the directors of the Company will be receiving settlement of a portion of their outstanding fees in Ordinary Shares of 0.1 pence each in the Company'

A quick google on Director's fees gives me this;
"Directors' fees are tax-deductible expenses for your company. As a result, providing it is profitable, the company saves Corporation Tax on directors' fees it pays. They are however, taxed under the Pay As You Earn (PAYE) system"

Someone paying higher rate tax would have their fees reduced from £6K/£12K to £3.6K/£7.2K and presume also NI is paid on these fees.

One slightly 'interesting' point about the RNS is that the issued shares were based on mid price of .0115p
£6K (without any deductions) would be 5217391 (5.2M) shares.

I note that Roger was allocated 6.9M shares which I calculate to be exactly £8K. So somewhat confused why he got more than the £6K max pre any deductions. Perhaps he was owed some money for some other service - happy to hear others thoughts and to be corrected.

A week tomorrow is 1st December, so far October and November have been barren for project news. I am sure positive things are happening in the background and hope / expect an RNS prior to the end of year results due around mid Dec.

Above is AIMHO only and am just passing time whilst waiting for the weather to brighten for a canal walk.
Still very hopeful here but very impatient like most of you no doubt are.
Have a good weekend..

Min, and..........................?

Just to add to my note. We knew this day was coming but now it is a reality.
The closure of NGS was/is absolutely pivotal to our plans to sell our Pozz.
This closure will focus the minds of the cement Companies and should allow PC to do the deals.
I will raise a glass to this news tonight.
Good luck to all.

Just saw this on abc15.com;

NAVAJO NATION, AZ — The Navajo Generating Station, located near the Arizona-Utah border, has officially shut down after using the last of its coal, according to a Monday press release.

The NGS was a 2,250-megawatt plant that is owned by SRP, Arizona Public Service Co., Nevada Energy and Tucson Electric Power.

It was determined in 2017 that the station was "uneconomical" to continue operations, according to officials. They argued that the plant polluted the air and caused health problems in communities nearby.

I think Sam said it in his last post. Can't see us getting a signed off permit in Q4 now and more likely into January - things are sure to slow down a little over the festive period.
If that is the case so be it, the most important think is that we get the permit. Am sure we will all feel more relaxed when we see the blooming thing appear on the NEPA site.
It is 8 weeks and a bit since the last CS update (don't count the placing) so I hope that Patrick has some news before the Christmas festivities and let us hope it is excellent news (offtake / processing of the 100 tons / funding for the initial works required / news on that processing facility etc).
Best of luck to all here...

Brill SGD, just playing this from home... cheers!

And as we know the £100K is on top of circa £25k PC purchased from TYM per RNS of 18th July which is not listed in the RNS's here but can be found on SRES website. So £125k in less than 4 months.
Given PC's purchase perhaps we will need to wait a few days longer for news. It is 7 weeks tomorrow since last project update.
Is our valued poster SGD27 still around as be good to hear your thoughts on latest happenings.

Well I have just bought a few more (I did yesterday too) to top up my holding to the % I wanted.
That is it for now.
Considering these were around .17p a year ago to the week then it ought to be a decent punt given the progress since then, the proximity to permit approval (fingers crossed) and fact that the guy who runs the Company upped his holding to over 7%

Interesting find f29. In the RNS of 3rd Jun in the summary PC said;
"We are well set to participate in this resurgence in a part of the US that is particularly badly affected and to pursue this scalable business opportunity in future on a wider basis."

Perhaps it is not too far fetched to imagine that PC has a longer term plan to supply Pozz outside of the States (as well of course as within the US) - there are certainly precedents for sending minerals like this long distances. Perlite in landed in the US from Greece for example.
We are now 5 weeks beyond last RNS. I expect we will have some kind of update in next week or two and then we will have the end of year results RNs mid December..

Guys this is becoming a bit of a Two Ronnies sketch.....

Neither do I, we know that any placing would certainly be last before start of production / revenue. I don't see 2 placings when he will be able to raise funds via other means at that point.

As every week passes though I think if he was needing to raise money prior to the permit news it would have happened by now.

Well done Mr Turpin...
Hope you and the rest of us are richly rewarded!

Fulmar well if a takeover happens then not much we can do about it, just hope it is at a fair price..

I am surprised that some other investors have not twigged what is happening here and the potential that is possibly weeks away.
Like you Fulmar don't want to seem competitive but my holding is the tiniest bit shy of 2% of the Company. If things do go to plan in this quarter I hope to take some off the table and then I can relax and let Patrick deliver the goods...