Member Info for jonny_five

Not to mention companies like Polymetal that have almost exclusively projects in Russia still with a live listing on LSE!

Sorry but thats just ridiculous. Not a problem at all. Have you seen all the countries importing Russian oil at the moment? I can hardly see them sanctioning France and Germany for example and banning companies operating there from the UK stock market!

They had £1.44m at the end of February confirmed in an RNS and there was a recent podcast interview where I think they said they had £1.1m and low cash burn. Mf has repeatedly said they are cashed up to offtake, but the delays in the IML is the unknown risk element. But I wouldn't take much notice of dalt. He's the well known resident clown here.

I think its more whether they have the infrastructure and equipment to work from home. Lets hope so

Spoke too soon Xeiger!

We live in hope!

Indeed, but what it does show is how quickly they can grant licences when they have everything they need. Despite the ongoing current issues in SL, you'd like to think its not going to add months to any rubber stamping process

But also interestingly about Ceylon Graphite, is that their EIA was granted on 21/08/19 and their first IML 5 days later on 26/08/19, so just goes to show........

The caveat with comparing timescales is that was a renewal so might have a lot less red tape than a first IML.

Im not sure if this has been posted before, but this article states the GSMB issues 1856 industrial license in 9 months last year so just shows the scope of the department, also interesting is this comment "Environment Minister Mahinda Amaraweera also instructed the GSMB to issue licences and find other sources of revenue as well." so is keen to monitise the GSMB through licence issuing.

https://www.themorning.lk/gsmb-revenue-rises-to-rs-2-b-by-august-2021/

Also because we have been waiting forever, doesn't mean there's any big issues or even a delay, particularly from GSMBs point of view Im sure. I think we have to just accept that it is highly unlikely we will hear anything about it now until its (hopefully) granted.

Ha, yeah legal, I think you have had too much time to overthink it whilst waiting for the IML. Almost conspiracy theory levels! That would be the kiss of death for foreign investment in SL.

Agreed, I very much doubt that the finance partners being considered have any interest in being involved in the actual mining operations or a buy out for the reasons Paul mentions. Im not really here waiting for a buy out, rather some nice juicy dividends eventually. They have the potential to be pretty significant, which against the backdrop of a much higher SP suits me fine!

That's just the same interview posted on This is money a couple of weeks ago.

Just on the point about extra days off for civil servants, I don't think that would have much effect on GSMB as they spend most of their time having presentations, planting trees and painting temples, if their Facebook page is anything to go on. So the small issue of granting an IML Im sure they could still fit in to their schedule!

The problem is when they have been working on this project since 2015 then "very close" in those terms could mean a few weeks I'd imagine.

At the TMS interview at the end of the last month he did say “…we want to get into production as soon as possible. We are very close on the mining licence which is the key step to move forward…”

I think his most recent comments re the IML was that he believed it to be "very close". Is that different to "Imminent" Who knows!

It's amusing dalt how you still think anyone takes seriously anything you say

Maybe BoJo put a good word in for CMET. About time he did something useful lol

Yeah initially it did sound a bit disappointing but then when he said its not like normal off take negotiations, whereby they want them to also invest and be involved in some way, made me think this is about not only securing the full capex finance but also other potential future development costs. So hopefully worth waiting for it to conclude.