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Nice post comeonsres2, am sure most welcome you back as I do.
Life is too short eh, as you say let’s see what this year brings.
Thanks from me too tottyman and justone; sounds hopeful.
Safe trip home however far your journeys are...
It is 17 months since we raised the £1M through Broker placing and broker option (we could participate in part of the raise).
The raise was at .28p per share and folks will recall it dragged our SP down from close to .40p at that time and has declined to where we are now.
It has funded day to day expenses, trial mining and some drilling in the US and Australia.
The drilling has been somewhat underwhelming based on the lack of anyone stepping forward to JV with us on those PM assets; at least thus far.
The last 6 months on many AIM stocks has been tough and perhaps we have fared better than some.
Things hang in the balance right now, if we get a great deal with the CRMC all will be forgotten and the SP should react positively. If we don't then not sure where we go from there.
I won't be voting against anything, after all this time I am willing to let my reduced investment here just run; **** or bust.
As Ice said recently not posted much recently here as what is there to say; very few RNSs to analyse and comment on.
I do hope that Patrick can inject some optimism to those who attend the AGM.
I would have more confidence if I saw PC exercise that large chunk of warrants he was allocated by the Remuneration committee. If I can ask Totty or Justone who said they are attending to perhaps ask PC if there is any technical reason that he cannot exercise those warrants (yes I know some are conditional on commencement of mining but there is a chunk that is not).
GLA
Fair play to you Totty, look forward to hearing what happens.
Totty, are you planning to go to the AGM?
I won’t be able to go as helping my Dad who came out of hospital yesterday and going to need quite a lot of help for some time.
Hoping at least one or two folks here can go…
I guess they will need to keep $5M for contingencies and the rest for CS - happy days!
Justone, the market does not know how to value this and even us shareholders are guessing to a degree what the deal will look like. The CRMC will be getting access to a Pozz deposit that they want that is permitted for circa 17M tonnes but with a NE zone that is likely half as large again so prospectively >20M tonnes at CS.
We have the permitted deposit, they have the grinding facility, the transport, the manpower, money etc.
So my guess is we will be the unequal partner but it still can be very lucrative.
This is a JV so the CRMC (relative to their worth) will be getting this 'access' at a fairly low upfront cost versus say buying us.
What we will want is them to fund the mine setup and the reclamation deposit for stage 1 (we only paid for the trial mining phase stage so far). Total guesswork but this will be only a small number of millions of dollars because for Pozz intially we only need minimal infrastructure onsite.
We will want them to commit to offtaking Pozz for n number of years at a particular minima tonnage.
We will want some funds for us to pay G&A until the money starts rolling in.
We will want a percentage of all CS processed Pozz sales.
The numbers for these things are very much guesswork.
Be interested to hear what others here think on this.
Other questions in my mind;
1. If the other customer testing our Pozz also wants to buy will the CRMC want to supply them or will they want exclusive access.
2. What do the CRMC want to do with the Perlite.
Going to be interesting, are any folks planning to attend the AGM?
Totty, yes I saw that and it is potentially very interesting.
Firstly this is nothing to do with CS, it is in a different location as per this from the RNS;
"In a separate development the Company, whilst researching pozzolan opportunities, has identified an
opportunity for the rare industrial mineral sepiolite near Pioche in Nevada. Sepiolite is a clay used as a
viscosity modifier in a number of industrial materials, as well as an absorbent. Claims have been staked
and positive initial tests by a European industrial minerals producer led to a successful joint field
evaluation last week"
A bit of info on Pioche I just googled;
"Pioche is an unincorporated town in Lincoln County, Nevada, United States, approximately 180 miles (290 km) northeast of Las Vegas"
Those who have had involvement with TYM know that PC (and in particular Richard Clemmey who left TYM for a new role elsewhere have connections with a large European Company who were interested in Fluorspar which has not progressed due permit issues (Sweden) and quality issues (US deposit). So perhaps PC was approached to look for this particular mineral by the European Company. If they already looked at a sample PC must have had someone look at this prior to this trip and they must like what they saw as I guess the joint field evaluation last week was with a rep from this Company.
All a bit two and two equals five I know but it is interesting I agree as is the new Pozz deposit in North Nevada
DYOR and a message to Aviator on the ADVFN board, GAFY (you can work that one out).
Hi SGD, as you know my 'favourite' bet for the CRMC has always been Cemex who are a pretty big fish and defo can be classed as an International player. A quick google for Cemex management team and I find any number of folks with the title of President including a Mr Muguiro who is President of Cemex USA;
https://www.cemex.com/investors/corporate-governance/management-team#navigate
Looking at another link below you can see a number of locations in Nevada including one in Reno;
https://www.cemexusa.com/find-your-location
Hope this helps.
Of course this is a pure guess on my side with no inside info and I might be miles wide of the mark etc.
Should our CRMC be of this stature and we can tie up a long term deal then of course we will be in clover so to speak!
I have suggested for some time it would more likely be JV than an outright sale and today's RNS confirms this.
I have skimmed the RNS and note our cash position at end Sept is £371K at Group level. I posted on 12th Nov that my best guess was a range of £300-400K so has come in at the higher end of that.
We probably have enough cash for something in order of 6 months as of end Sept.
So the devil is in the detail now, it is great that the CRMC want to do the deal but my hope is there is some up front funding for us otherwise we will need to raise funds sometime next year.
As others said without hard figures in the RNS the SP is not likely to take off just yet but hopefully will do if Patrick can agree favourable terms.
In summary great news for holders but a bit more patience is required.
Elric, one thing for you as you talked about the 10p POLB SP in the interview.
We need to factor in the ratio at which we were allocated our 'free' shares. I believe it was roughly one for every three ORPH share we had so the value to us holders of POLB is closer to 3p per share than 10p; that's how I see it anyway.
Elric, compliments on a very good interview; you did a super job and look forward to a follow up.
Interesting to hear further Contracts are due soon and the we are likely to get a new CEO 'soonish' freeing up Cathal's time to work on the spin off's. Can see the logic in getting POLB SP up first so folks can see the value in the spin offs.
GG sorry but scratching my head on how theoretically using some of our spare cash for buy backs can be dilutive; in my mind it would be the opposite. Reducing shares in issue and then dividing the reduced number of shares into any future profits will increase EPS. Seems from the interview Cathal not keen on buybacks right now but has not ruled it out for 2022.
As I type this I see a post from Elric arguing along same lines as me..
I just noticed a post on TYM with their new MD Patrick Cullen talking to Alan Green;
https://youtu.be/_DpRb03lQ6Y
Not listened to it all yet but at 4 mins in Mr Cullen says he met up with our Patrick who he says is on Sunrise business!
This sounds interesting to me guys
Treestump - like it!
Daddykool - stop it you made me chuckle!
A reminder from me that when I last spoke to PC he said that if negotiations with the CRMC ended we would get an RNS so as Dip suggests things are likely to be ongoing. Our complaint Dip (and there seems to be some consensus here on this) that it would have saved a lot of shareholder angst if PC had simply issued an RNS to say discussions are ongoing; no other info would be needed.
Anyone else see on twitter a tweet this week from Alan Green showing Patrick Cullen and I think (he had his hat on) PC on one of the Tertiary prospects? Per the post from caddy we do know he is over there so just maybe he is working on something for CS too; would be a nice Christmas boost to get positive news.
Yip I also ticked up Safe's post which is balanced and reasonable.
PC previously gave us info like the CRMC's mining guy had been to site as part of due diligence; he did not have to tell us that but chose to share that info. It is not longer tenable to not update shareholders, he can simply say discussions are ongoing or they have ended. Yes if they ended the SP will crater but I think most of us would prefer to know.
I guess we are due the annual results soon so perhaps PC is waiting until then to give us an update as part of that RNS so we ought to find out one way or another in the next week or two.
Elrico,
Appreciate the info, there certainly are many questions we would like answers to.
Good luck am sure you will get your slot. Am back in Dublin for Christmas & New Year (Omicron permitting) so might even see him in the Shelbourne on Christmas Eve…
Timber I was not criticising Eric or Cathal and was interested in listening; I simply did not buy the reason for the delay to it and I did say I could be wrong but thanks for your suggestion.
Yeah whatevs, perhaps imminent news is the real reason and interview to follow.
Could be wrong of course.
Thanks for flagging this up guys, was bloomin painful early in the week. This has to be 'in the know' buying?