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Hi rodster, yes I reduced for a very valid reason as was too exposed. You seem to have taken offence at that whereas when your mate Sam sold he did not get the same negativity.
You might guess but I don’t give a hoot what you think.
I still have close 20 M shares (between me and the missus) here so very much interested in the outcome and will continue to post including the occasional off topic which if you didn’t realise has no bearing on the SRES share price or how seriously I view this investment.
Hi Den, nice to see you posting again and good to know you are still holding.
Don't mention bets to me, had a fiver free bet with my bookie and backed an odds on favourite at Newcastle (I think it was) earlier in the week. Bloody 80-1 complete outsider goes and wins the flipping race. Such is life.
Hi Twiggy, the last of the 5 or so Customers / trialists (as per that RNS) did seem to be happy with the Perlite but certainly one of the early guys thought it was over processed and PC had said they were going to work on the 200 tonne sample.
Perhaps PC does not see the merit in doing the re-processing right now given at least one Customer was happy and they know what the issue was. Actually if you look at that 17th Aug RNS the last paragraph in PC's statement (pasted below)does suggest that the Perlite and Pozz production will be in tandem (parallel); so option 2 of my list of 3 options in earlier post would seem to be the one;
"Whilst development of the perlite for uses other than for natural pozzolan is the smaller of the two business opportunities at the CS Project, we are pleased to have received great feedback from the most recent customer trials of our horticultural grade raw perlite and look forward to advancing this and other production options in tandem with the production of natural pozzolan."
Hi Terrafin, you make a good point. As you know we have/had 2 * MOUs for Perlite but there is as of yet nothing formal in place for Pozzolan.
Whilst we know that we are dealing with a CRMC for Pozz and there is some kind of ongoing negotiations the Perlite story is in many ways harder to fathom.
We know about the issues with processing of Perlite earlier in the year and one Customer thought the product was 'over-ground' (think Mellow Birds instant coffee instead of Nescafe Gold!). We also know another Customer was reasonably happy with it albeit too thought it was too Mellow Birds.
Remember we were told many months ago that they were going to re-process the 200 ton sample they had taken so why no news. As usual there are multiple possibilities;
1. It is proving difficult to line up the equipment/personnel needed to do that re-processing.
2. Perhaps Patrick has decided it is not financially viable to start CS mining with Perlite only (volumes too low) and any progress with Perlite is tied to a Pozz deal being signed which would bring with it the necessary financing to kick start mining (CRMC funding perhaps).
3. Our CRMC has indicated they want all of the CS material as Pozz - we know that the Perlite can be used as a Pozzolan.
There may be other reasons to add to my list.
Personally I find it hard to believe it could be option 1 after this amount of time.
I am torn between the reason being number 2 or 3 above.
Other thoughts welcome!
Have a jolly day y'all...
It seems pretty clear from the RNS that Kinross think there might be some precious metals there. If they find them in sufficient quantity then they will exercise the option to buy the lease for $500K and we will also retain a net smelter royalty which would be a worthwhile amount should it come to pass.
Until that point (if it happens) we can mine Perlite but it seems to me exceedingly unlikely that we would. We still have New Perl and have done nothing with that yet despite a previous plan to do some bulk sampling.
So we can conclude that Patrick thought it unlikely we will want Jackson Wash for Perlite as we are effectively giving another Company first dibs on it.
What does this all tell us about likelihood of a CS sales versus going mining?
The fact we let POW have two of our other PM projects might suggest we don't expect an outright sale of CS otherwise we would surely want to keep them and test drill ourselves with the CS sale proceeds.
My take is that we will do an offtake (hopefully a bloomin big one!) with the CRMC and go mining and if that is a correct guess then Patrick just thinks we have enough 'material' at CS and New Perl as it is.
This is my analysis and AIMHO
Interesting post from SGD last night. Wouldn't it be nice if we got an end of day RNS saying Cemex were doing a deal with us - we can but dream!
Hi comeonsres2.
I get your frustration but I honestly think you are wasting energy rowing with folks here as it will change nothing and yes I have had a few arguments myself in the past but worked out there is little point in it.
For what it's worth I think Daddykool puts up some measured posts but you are of course entitled to disagree.
I guess we all have different mindsets on things. I agree SP wise we are not in a great place but I personally will not criticise PC (or any other Company I invest in where I lose money) but instead blame myself for making a bad investment decision if/when I lose. Crikey I made lots of those over the years too.
The way I look at it here we are s**t or bust on the CS project, certainly nothing coming along of big value beyond that for several years. If it does not work out then I will walk away with my tail between my legs. I will be very wary of industrial minerals or Precious metals projects in the future because they take too bloomin long and I am not getting any younger.
I am sure that we continue to be in discussions with the CRMC here and think that PC is unwilling to give much in way of updates for fear of the CRMC walking away. How long it will take is anyones guess but for what it's worth I think we will get a deal here. It's just a case of managing your holding / exposure to a level that if we don't get the deal it is not the end of the world for each of us.
Despite you suggesting I am a Juan Carr, have a nice day and all the best to you....
I note Sunrise tweeted this out several hours ago;
"Our objective is to develop profitable mining operations at the CS Pozzolan-Perlite Project in Nevada, USA and unlock the value inherent in our diverse portfolio of metal projects... To find out a little more, click below to view our latest presentation"
The latest presentation on their website is dated 17th Sept and listed separately to the presentation they gave at the March Webinar.
I had a glance through and nothing jumps out at me in this one.
I guess though the fact they pointing it out and it refers to the ground pozz being successfully tested in a number of real-world concrete jobs (slide 19) is perhaps telling us things are still ongoing with the CRMC.
If this has been flagged previously then apologies I had not seen it being mentioned.
I just played again the most recent interview that Patrick did with Proactive which was 18th August; as of tomorrow that will be five weeks ago. In that interview he talked about the two test pours the CRMC had done and said this of them; "they are pretty much a final test in their due diligence".
He had outlined all the other tests that they had done working with us leading up to the test pours.
So it seems that Patrick has some kind of view of the due diligence the CRMC consider appropriate.
In the last CS RNS he said;
"The preliminary results from the concrete pours using CS natural pozzolan are first-rate and, we anticipate, will provide the basis for a more structured arrangement with the CRMC carrying out this work"
I guess we have to assume that Patrick is right now working with the CRMC on this 'structured agreement' whatever it is.
I did note the announcement yesterday that travel to the US is being allowed for double jabbed folks from early November; there is no committed date yet.
I guess we all hope that we hear something well before then although I guess we can't rule out the possibility that PC is waiting for this travel easing to sign off on a deal. Who knows!
Yip agree 100% with that Daddy.
More chance of seeing Lord Lucan riding Shergar around Brigadoon than us hitting 5p IMHO.
Patrick is working with the CRMC and if they want to deal with us they will. I continue to wait, yes it is a drag though!
Iceman eh, how come he gets a cool nickname!
Could be a decent day as just tried couple of dummy buys. NT for 2M and got quoted .27 for 1M which compares to .2535 on dummy buy late yesterday. Might just be early in the day thing but perhaps SP rising in anticipation...
Hi fulmar, actually rubbish as it is HL are not doing bed and isa any more. Seems crap I know.
On that theme in our town HSBC have closed the counters and won’t take or give change (rubbish for the missus with her coffee shop business) so I go to my Halifax bank to get change on Thursday and fork me they now only open on a Wednesday. As Mr Dylan ( not yer man from magic roundabout) once said ‘the times they are a changing’ or as per HSBC the cash they are not a changing!
For those not on twitter I note Sunrise tweeted this in last couple of hours;
"According to credit rating agency ICRA, the global demand for cement will increase by 20% in 2022, returning to pre-Covid-19 levels. It projects that demand will be driven by a backlog of infrastructure maintenance projects due to the pandemic"
Here is a link that they also flagged;
https://www.worldcement.com/the-americas/31082021/bruks-siwertell-reports-cement-import-boom-as-us-shows-signs-of-recovery/
Yes we carry on waiting. It is a pain but my hope is that we are negotiating something with the CRMC right now be it offtake or sale. Many here have been patient for a long time but we have banked a lot of good news on the CS project and really must be close to something that is beneficial for the SP and our pockets.
Keep the faith and good luck....