Member Info for Justone

Take heart sebo10, you haven’t lost the money until you sell. I am 75% down with a far greater ‘potential’ loss. I personally don’t think the charge against Greg is valid, the dramatic fall in Sheffield was not forecast, as evidenced by their 10% investment in CMET raising £1.3m at 3.6p. All this heartache may be a blessing when we look back in a couple of years.

I agree with you BP on the Garfield project, if we keep holding the royalty to production! The Crow springs I gather is a matter of a JCB and a truck, delivering to the nearby processing plant, just a matter of the licence to mine with the volume to be extracted. At $6 a dry ton royalty, the licence applied for in May, the volume unknown, I would call that near term potential? As PC points out in the RNS, these royalty interests can be sold, and as the projects mature, the value goes up. It is nice to see gold reach an all time high yesterday, increasing the potential value of some of our royalties.

The timing of the CS project deal is unknown, but I would rather have the right deal even if it means delays. It is our Crown Jewels, and has the biggest potential of increasing value.

I agree with Safe, but behind the scenes there is so much potential at this level, which I presume is the reason why you are still hanging around. Garfield is shaping up nicely by the look of yesterday’s RNS, with Tolsa in December, and of course the elusive CS deal to look forward to. We might even get news on the Crow springs diatomite planning, to see the volume they want to extract, giving an idea on our royalty value. We might even be in news rich period. Plenty to be positive about.

Well with gold at $2520, the debt would be paid off in the first year, and Harry could declare his first dividend! All going in the right direction, but the market is cynical! Too many false dawns, to give Kefi a proper valuation.

The share price is what it is, nobody will be happy with it, but having no impact on the raise news looks to be the current bottom. PC will release an RNS when there are material changes which could impact the share price, both good and bad. The fact that there is no update, means that PC is still negotiating with interested parties. It is simple as that. We just have to be patient, frustrating as it is, and trust PC is playing it right for long term shareholder value.

Thank you for that information 1 investor. PC was between the devil and the deep blue sea on the 50k investment. I do not see him feathering his own nest on that, even though he did, and am inclined to be a bit more charitable! The fact that he did i see as positive, and we could all have loaded up even cheaper, which PC did, only with a modest 10k. So with the fact that he had to raise, and had to put such a large amount in to do a successful raise answers the question. PC does put the shareholder interests first IMHO.

Thank you for your reply 1investor, it has given me another perspective and is food for thought. I would like to think that the shareholders and PC are completely aligned, in creating shareholder value. My confidence and faith in PC would be severely dented if I felt that that PC was not getting the right balance, with his role as MD and representing shareholder interests. My concern with joining a shareholder action group is that, undue influence is put on the MD to produce short term gratification rather than long term results. If the action group is purely concerned about dilution, then this is of interest. I would not want to join, if it is just about making personal attacks on PC by jaundiced shareholders and beat him with a stick. It would have to be a constructive vehicle to be a ‘critical friend’ as they say as a school governor.

I can hear what you are saying 1investor, and am also obviously concerned about further dilution. I think PC is fully aware of this, and you can see by his historic actions has done his best to avoid excessive dilution. He has gone into the market, and bought shares, he has taken 25% of the new raise, to demonstrate director confidence. His remuneration is a minimum, and the company costs are a minimum, to maintain shareholder value. PC is the biggest long term shareholder, and has the most to gain, and that gives me comfort. The trouble is that the market realities have not moved in our favour when it comes to immediate cash generation, so PC has been forced to raise. The market cap has been destroyed with the delays, so the raises are even more painful. I might add that shares in commodity companies in general have not faired well in the last few years. We are all caught, and I am sure PC is well aware of the realities of where we find ourselves.

I would like to think that PC will now be creative in trying to get rid of Net Zero, given that there was insufficient interest in raising more cash at the level of discount, and to also avoid any future dilutions. How about offering Tolsa a discount, rather than wait for December, selling a royalty interest? PC does listen to shareholders and will be well aware of the discontent.

Tolsa did not get a free ride on the extra year, and are spending a considerable amount of money in confirming up the resource. This is not PC’s fault, and rather messed up the projected cash flow for 2024. The resource once proved off has a value to someone, even if Tolsa do not go ahead. I think the chances are very good that Tolsa will sign up, and the royalty will be negotiated over.

Nobody likes to be underwater, and the frustration is showing. The fund raise was obviously necessary, and was certainly not at a giveaway price. This fact backs the claim, that more was to be raised, but was not attractive enough to get more subscriptions! The share price did not tumble after the RNS, the usual result of a raise, the market was reassured as to the discount and 25% went to PC, increasing his skin in the game. We had a verbal guesstimate that the CS project would complete in the first half, obviously this has not happened and appears not to be imminent, hence the need for the raise. I don’t want our Crown Jewels to be sold cheap, when demand is on the increase, so happy to sit it out. The Tolsa money should come through within 6 months, and we are 12 months away from the start of some royalty income. Other deals could drop at any time, as we have silver and gold assets. We just have to wait it out. PC is the biggest holder, and he knows what we are negotiating over. In the meantime we just have to suck it up, as it is our own decision to invest and there is no going back except to sell at a loss. Changing PC would not achieve anything and would increase the risk substantially.

Forgot to add they were Indian.

The reply from Ben is very bullish, but they are all paid to be bullish the cynic would say. We will have this confirmed on Wednesday, but having met Ben a couple of times I would agree with him. When I was down there a very large private family office was mooted as a potential partner, but no shortage of suitors.

It is disappointing that a deal could not be agreed. The RNS puts a positive spin on the future prospects, but expectations of a deal had been created, so the share price crashed. Overdone IMHO and reflects memories of our torrid licence debacle, historical management incompetence and the waste of 6 months. The market is very unforgiving! Negotiations are negotiations, and it is correct for Greg to walk away, rather than do a bad deal for CMET shareholders. Having been to the last two AGM’s, one of my main concerns, was whether our assets were sufficient quality to generate outside interest. I was very pleased with the answers, and believe Greg’s comments. More will no doubt be revealed on Wednesday, but feel very confident in the quality of our assets, and bought a few more. The drop is painful, but we have been here before, but this time we are in a far better position. In this type of share nothing goes smoothly, and it is why the gains or losses will be exaggerated.

If you are so despondent why not sell? Is it because you suffer from FOMO? This might be the year when it all comes together, and valuations are revealed. The one person who knows the valuations that are being negotiated over is PC, and what is he doing, buying more shares. Relax all will be revealed, eventually!

But Tottyman, this is where we fundamentally differ, he is delivering. We are in a perverse situation that our asset values are growing, yet the share price goes backwards. Blame PC or the fact that the market does not know how to value the royalties and the potential behind the CS deal? The market is bored of SRES, giving an opportunity for some who are prepared to be patient in my opinion. What is the downside at this level, compared to the upside when we will have half our current market cap in cash coming in from Tolsa in December. Potential I might add! I suffer from FOMO, do you?

Plenty Tottyman, all projects are moving forward. If we don’t get a deal on the CS project by the end of June, so what. I would prefer that we hold out for top dollar, rather than a suboptimal deal. I am in for the very long term, and feel that my patience will eventually be rewarded. I can see that others might have different investment horizons, which cause frustration. We are all on the same side, and I think we should expect some leeway for PC as part of the negotiating process. There is increasing interest in the CS project as the market moves in our direction, so it is not going to be an ‘if’ but a when. I hope PC is being greedy to reflect the future demand, that we know is coming. Enjoy the sunny weather, every dog has its day!

I would agree with you Twiggy, what counts are the amounts of the royalties. The value of this royalty at Garfield is going up on every Golden metals RNS, if we ever wanted to sell it! Let’s hope the results are so good that that a mine will be built.

Https://www.sunriseresourcesplc.com/filemanager/Presentations/202312_Sunrise%20Company%20Presentation%20December%202023.pdf

If you look at this presentation, and subsequent transactions this is my understanding of the direction of travel fulmer29. He will obviously be flexible, if the right deal comes along. We don’t have the bandwidth for anything else. I am sure he has said something similar in one of his interviews.

I concur with your synopsis 1investor, except that PC has indicated that he wants SRES to be a royalty company, so I don’t think the CS project will be an out and out sale. I expect the CS cash element of the deal to be multiples of our current market cap, as it is mine ready. It is all coming together nicely, we just have to be patient. I would like to see a chunk of the CS money given back to the loyal shareholders! Leaving development money to prove up our other assets. The very positive thing is admin costs are minimum, and PC is the biggest shareholder.

A good update on all the projects, simple and clear. It sounds as though there is some changing interest in our CS project with some competition, and PC is holding out on the price. I doubt June will be hit by the sound of it. We can afford to be strong sellers and wait it out, as overheads are minimal, and inflation is having a positive effect.

The new info that I hadn’t picked up before is that negotiations have started for the sale of Bakers ridge, our gold project. With gold at near record levels, this must have some value, plus a royalty of course!

I am sure our patience will get rewarded.