Member Info for Jamoe

BT, nice try (Opinion:) deramper.

(Suggestion:) You could try tweaking your writing style so that your opinions are not expressed as facts. (Opinion:) But I doubt you will. (Fact:) There are plenty on this board that will call you out for it. The same applies to the rampers.

Fun game, I'll take the win.

Jamoe the "Mug."

“Anyone want to challenge that? Thought not”

You’re so sure of yourself that you answered your own rhetorical question.


Here , let me help you with the difference between a FACT and an Opinion.


Fact: “Stanbury raised £250K with a personal subscription”

Opinion: “because he couldn't raise funds any other way without a prospectus.”

Opinion: “A prospectus that would have laid bare what a shetshow this is, and put everyone on the hook for its solvency for a year.”

Fact: “He has now used up most of the authority from the 30 December AGM to issue more shares.”


Opinion: “He has painted himself into an ever tighter corner.”

Stupidity: “Those are the FACTS.”

Although the Annual Report was pretty dire, lets not forget that they pulled in £250K for working capital (see RNS 15th Jan, link below)

"Technically Insolvent" is a big scary phrase. Don't believe anyone on here, including me. Do your own research.

https://www.lse.co.uk/rns/TM1/issue-of-shares-cd5xgv698772gvs.html

We can hope for some creative accounting but I wouldn't put much faith on a US asset being used to offset an Ireland asset. But Tax affairs are complex and I'm as good as clueless here.

I agree Dusty. Not to sound like a broken record. But there's also the challenge of selling the shares, paying back GBML expenses and Irelands capital gains tax (33%).

GBML AGM today at 18:00 GMT, related to finalising the Leinster deal

"The Settlement Agreement remains subject to TSX-V approval and approval by GBML shareholders at an annual and special meeting of shareholders to be held in January 2025."

https://www.lse.co.uk/rns/TM1/completed-sale-of-lrh-to-european-lithium-a7ehjd72ku2leff.html

Looking forward to news of steady production. They must be getting close now.

"We are pleased with the excellent progress at Limeco, highlighted by yet another key milestone achieved with the commissioning of Kiln 1"

https://x.com/FireRing_SM/status/1884541742927561041

10:00 Pacific Time -> 18:00 GMT

"NOTICE IS HEREBY GIVEN that the Annual and Special Meeting (the “Meeting”) of the holders of

common shares (“Shareholders”) of GLOBAL BATTERY METALS LTD. (the “Company”) will be

held at Suite 1100, 1199 West Hastings Street, Vancouver, BC V6E 3T5 on Friday, January 31, 2025,

at 10:00 a.m. (Pacific Time)"

https://gbml.ca/site/assets/files/5612/2024-12-30-gbml-2025-notice-of-meeting.pdf

Li-Cycle and Glencore have restarted their collaboration on the Portovesme, Italy Hub as announced on Dec 2024. It's one to keep an eye on, that's for sure.

Bare in mind that the Portovesme hub is already a Glencore facility and is Italy's only Lead and Zinc producure (https://www.portovesme.it/en). There is always risk that it doesn't go ahead but that will lead to the need for a new site. Afterall, Europe will need it to meet their battery recycling targets.

"TORONTO, ONTARIO (December 4, 2024) – Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery resource recovery company, is pleased to announce that the Company and Glencore International AG, a wholly-owned subsidiary of Glencore plc (LON: GLEN) (together with its subsidiaries, “Glencore”), a leading producer, recycler and marketer of nickel and cobalt for the production of lithium-ion batteries, are resuming their collaboration to assess the technical and economic viability of developing a new Hub facility in Portovesme, Italy, including a concept and pre-feasibility study."

https://li-cycle.com/press-releases/li-cycle-provides-update-on-pre-feasibility-study-for-european-recycling-hub-project-and-collaboration-with-glencore/

Some current bedtime reading material regarding Europe and Blackmass - https://www.ifri.org/sites/default/files/2024-12/ifri_gherasim_et_michel_black_mass_december24.pdf

Of those 1,371,742 shares, 137,174 will go to Chang Turkmani and 284,362 to Global Battery Metals Ltd. Leaving TM1 with 950,206. TM1 also owe GBM Ltd €377,327.29 (£317,341.68*) for Exploration Expenditure. You also have to take into account Irelands 33% captical gains tax.

At the current CRML sp (US$8.04) , taking into account the above. TM1 would be left with c. £3.7m (depending on exchange rates). At US$10, TM1 could come out with c. £5m.

There's more of a breakdown on this in a post I made a few weeks ago. I haven't seen anyone else come back against that or with any additional info.

https://www.lse.co.uk/ShareChat.html?ShareTicker=TM1&share=Tech-Minerals&thread=4B8D4D6E-7D17-4568-B493-C674DC822414

I did some calcs on another thread on this board. When the CRML sp was US$7.77, I'd expect TM1 to walk away with c. £3.86 million. If the CRML sp was US$10, we'd be looking at c. £5 million. That's after paying GBM Expenditure and 33% CGT in Ireland. There may be other costs/fees that we're not aware of and exchange rates may not be in our favour.

There's more detail in the other thread NanoCapInvestor started: https://www.lse.co.uk/ShareChat.html?ShareTicker=TM1&share=Tech-Minerals&thread=4B8D4D6E-7D17-4568-B493-C674DC822414

I'm hopeful that by the time TM1 can sell these shares and reduce/remove the CLN depts. RG breaks even and that becomes a positive asset. The sp rises and the RTO becomes viable.

Hi NCI, I agree with your sentiment here. TM1 isn't going to end up with $10m from selling CRML shares (*unless the CRML sp does something special) , but I think your numbers are a little off.

TM1 received 1,371,742 shares valued at $10m as of 22nd April 2024. It should be $7.72, not $11.80.

https://www.londonstockexchange.com/news-article/TM1/completed-sale-of-lrh-to-european-lithium/16781169

"...The Transaction is to be settled through the transfer to Technology Minerals of 1,371,742 shares held by European Lithium in Critical Metals Corp (Nasdaq: CRML) ("CRML"), a leading mining company focused on mining critical metals and minerals, calculated at 90% of the closing market price of the shares on the day before the signing of the Heads of Agreement as announced on 22 April 2024..."

Of those 1,371,742 shares, 137,174 will go to Chang Turkmani and 284,362 to Global Battery Metals Ltd. Leaving TM1 with 950,206. They also owe GBM Ltd €377,327.29 (£317,341.68*) for Exploration Expenditure.

Current Value of TM1's CRML shares = 950,206 x US$7.77 = $7,383,100.62 (£6,079,503.46*)

After paying GBM Expenditure = £6,079,503.46 - £317,341.68 = £5,761,427.13

Capital Gains in Ireland is 33%.

33% of £5,761,427.13 = £1,901,270.95

£5,761,427.13 - £1,901,270.95 = £3,861,241.99**

* Exchange Rates from Google Finanace

** These are rough calculations, not withstanding other fees and expenses,

"As a result of the Transaction, Technology Minerals and Global Battery Metals Ltd ("GBML"), the Company's joint venture partner in the Leinster project, reached a Settlement Agreement to terminate the joint venture in exchange for an aggregate of 284,362 of the Consideration Shares to be delivered by Technology Minerals to GBML. In addition, GBML's outstanding exploration expenditures in the amount of €377,327.29 will be settled in Consideration Shares issued to the creditors. The Settlement Agreement remains subject to TSX-V approval and approval by GBML shareholders at an annual and special meeting of shareholders to be held in January 2025."

So right now, I'd expect TM1 to walk away with c. £3.86 million (not the $10 million we've seen posted about this board). If the CRML sp was $10, we'd be looking at c. £5 million.

Disclaimer: I've been holding and averaging down since late 2023.