Member Info for Dubliner

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?

Mrmoagi, the basis of our assumption is that we read the RNSs and multiple of these have indicated we are in negotiation with a CRMC. Below is from 17th August for example;

Two commercial concrete pours carried out by large Cement & Ready- Mix Company ("CRMC") as due diligence towards commercial agreement.

I have also talked with and had email correspondence with Patrick and it is 100% clear he is hoping to do a deal with this CRMC. Of course we all know that this might not get over the line but your post suggests we are all imagining this.

Thanks Sam, will take a listen and good to have you back posting here...

Guys, there are at least two interviews out there this morning for POLB and they cover why ORPH is not doing the HCS for POLB.
The interviews are with BRR Media and Proactive, I follow POLB on Twitter and they posted the links. If folks are invested in POLB it is worth doing that.

Mmm, difficult to answer that one Safe without lots of nuances.
For a start one investors reasonable expectations SP wise is likely to be a huge fail for some investors. It is clear there is a wide range of expectations on what might be achieved in the event of a deal.

Based solely on the current SP then the BOD have not delivered what investors would have hoped for thus far.
We might take a fairer view though and say that PC and the BOD have done well to get us to where we are with a fully permitted CS deposit and negotiating a deal with a Internationally recognised CRMC. It will all now be about if they get the deal done or not and what the terms are; time will tell on that.

Gazzle, don't think it has been discussed. I have seen it and obviously with Aramco's dosh behind it then it will no doubt have some success. What I understood was that it was very much aimed at pre-cast right now so a specific subset of the market.

ProcessGuy, I never heard of a closed period where warrants are concerned. A quick google found below, if you have something that confirms your suggestion would be interested to see it;

Can warrants be exercised at any time?
An American warrant can be exercised at any time on or before the expiration date, while European warrants can only be exercised on the expiration date. Warrants that give the right to buy a security are known as call warrants; those that give the right to sell a security are known as put warrants.

We should get result for year to end September 2021 via RNS next month.
Folks will recall we had £637.8K in cash in half year to end March 2021.
Those who read the results in detail (not many it seems!) will know we burn around £360K per year in admin costs; these are transferred to TYM and include Patrick's wage of circa £80K per annum plus our share of other costs. I have pointed this out multiple times but folks don't listen it seems. PC does take his Directors fees (usually) as shares. Patrick also bought shares directly in previous placings hence his large holding.

Since the end half year in we are likely to have incurred some costs on the small amount of drilling that we did; certainly Bakers but perhaps also Clayton. We have offloaded a few projects and got a bit of money in for those up front (plus shares in the acquires) - but not huge amounts.

My best guess is that in the upcoming results we will have a cash position of perhaps £300K to £400K, bit of guesswork on my part as don’t know the drilling costs.

I believe Patrick said previously that the £1M raise of August 2020 would last us until the end of trial mining. He will no doubt want our cash to last until we do a deal on CS and not have to go back to the Market to raise funds via placing. I guess this would not go down well!

Folks who read my analysis of last years results will remember me noting;
“There was another block of 35M warrants at .195p issued this year on 6th August 2020, valid for 5 years. The Remuneration committee, chaired by Mr Roger Murphy, awarded 30M of these to Patrick – page 22 has details and is described as a long-term incentive plan (ltip).
The warrants cannot be exercised until after 5th August 2021 and half of these (15M) can only be exercised after ‘The Company makes the first sustainable sales of perlite / pozzolan Product from the CS Project’”

If PC has confidence in the CRMC doing a deal with us he could take up the rights to the 15M warrants now as it would bring in just shy of £30K to the coffers and send a confident signal to us shareholders.

Hope folks find this useful, comments welcomed!

Should have read was to reassure us.
Hopefully a riot not needed!!

Hi comeonsres2, I guess there might be other scenarios.
A really large holder needs to raise funds quickly; for a house purchase, or a divorce settlement or something like that. They don’t know if / when any deal might happen so just decided to sell.
It is quite unsettling though I would agree.
Wonder if the recent tweet was riot reassure us?
When I last spoke to PC it was indicated that should our discussions with the CRMC fall through there would be an RNS to advise as such. The absence of an RNS one would suggest things are progressing still.

Wow guys look at that sell from yesterday. No wonder the SP took a hit.
Is this a distressed sell or someone in the know?
Quite something!
Go to work Safe !!