Member Info for Dubliner

Thinking same myself Terrafin. I got a sneaky feeling (nothing more) that we will get news this calendar month.

Back from a walk and just this minute checked spread.
They are .2355 to sell and .239 to buy so the bid is still strong. This is tightest spread for some time.

Well wonder if MR PC will be heading over the pond soon now US travel has opened up.
Am guessing he will have his favourite pen tucked in the hand luggage ready to sign off on the biggest Pozz deal know to man!
Yeah ok a bit of hyperbole never hurt anyone. More trades than posts here today! .26p to buy and .234p to sell..
GLA

Aurora, here is the link;

https://www.globalcement.com/news/item/13237-cemex-dalmia-cement-and-holcim-among-founders-of-cop26-first-movers-coalition

On BBC website;

The US House of Representatives has finally passed a sweeping $1tn (£722bn) infrastructure bill, after weeks of wrangling between progressive and moderate Democrats.
The long-awaited legislation now heads to President Joe Biden's desk for a final signature.
Let's take a look at the most interesting numbers to come out of it.
There's a proposed $550bn in direct federal spending for infrastructure - about what was spent in 1956 to build the US interstate highway system. But from addressing global warming concerns to remote working issues, this isn't your grandparents' infrastructure package.

Hi Andysel, you are quite correct. The CRMC has a spare grinding plant and it was suggested this could be used in the early days but looking at a bespoke facility longer term. Thus far all the comments around the CRMC have indicated some kind of JV.
I don't think this kind of arrangement would be as bad as some seem to feel it might be.
AIMHO

IMHO how the SP reacts to any news on CS depends very much on the detail.
The better the news then the better the SP will react. I guess these would be seen by the Market to be good things;
1. The CRMC gets named and it is a 'very well known' name that folks will know.
2. That the CRMC will provide all required finance to get us started with mining - in other words we don't want further dilution.
3. We get a 'firm' date as to when product will start being dug and transported to the CRMC
4. We get details about how long any offtake is along with price per tonne.
5. Importantly we get details on how many tonnes per annum any offtake is committed to.

Obviously the above is based on a JV type offtake.
If the CRMC were to want to buy CS from us then it will be all about the amount offered.

As we all know the fine detail has been missing thus far in the progress updates and if that was the case with a deal announcement the reaction will be more muted than it could be.
Time will tell, I just hope we get a deal!!

Hi SGD, appreciate all your research; it sounds like things are moving the right way in the Industry...
As this is the last trading day of October it will be Nov at earliest now for any update unless of course we get an RNS during the day.

David, I had an email earlier in the week from the boss saying the figures (and an AGM) will be in the next 3 weeks so potentially not much different to last year.

I have been following the steady demise of Salt Lake Potash over several weeks / months and sympathies to holders there.
It seems that the receivers have been called in and I guess the shares are pretty much worthless and a dummy buy shows it is suspended. 52 week low 2.25p and high of 31.5p. With a current MCAP of £19M then that must have been (I guess) way over a £100M MCAP Company earlier this year. I guess we should to some degree be grateful we are not in such a dire place, AIM is not a place for widows and orphans.
Let's hope we get some news here soon. The year end results (to end Sept) should be out in December and I sincerely hope we have something before then.

Thanks for your support which I just noted on the other chat board!

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!

Mmm I always have thought these were our CRMC but admit it’s pure guesswork…

Ha fulmar, every time I see that slide I think the same!!

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.