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Big money coming into this and on for a strong close to the week tomorrow. News expected in the coming weeks and will likely make a big move in response to it. GLA

Is another placing being worked in the background. They likely need cash before they can get operational again?

I think both MATD and HE1 might have a strong close to the week. Don't know what impact the election result will have though, if any. (Not sure Labour are as trusted with the economy, or the party of choice for the financial sectors)

Yes, no issue with the extra 3 months PFG, particularly the importance and potential significance of the work. My query is more about whether this added piece of work is included within the $10 million cost of the DFS, or is going to add to the costs. Maybe MR has already addressed this - I don't know?

I do agree with others that this financing stuff needs sorting out, because you can't announce something in February and have it still hanging in the air in July. Especially not on something as key as funding.

Remember, it's drilling further into the basement first, so likely to get Helium shows released to the market before any EWT. And if the Helium concentration is increasing at depth, than these shows might well be more than the current best show of 4.7%. Imagine a show above 10% - that would blow the roof off.

And the roof gets blown from above 1p level and not this price, because we will surely be above 1p before they release the drilling results from onsite measurements.

So big gains to be made here even before the EWT results come in from August/Sept. Which is why buying at these cheaper levels makes all the sense. All imo and GLA

Actually scrap that - HE1 looks like a cup and handle forming on the daily, which is a very bullish pattern.

Looks to be forming a very bullish pattern on the chart now - cup and handle anyone? If so, this is one of the most bullish patterns out there. If it plays out as expected, we will end up in the 1p - 1.10p range. All imo and GLA

Thanks for the reply PFG.

Computer - ah right, do you know how much of their $5 million Bres have already funded? That's probably something that MR should highlight more than he perhaps does. Also, the extra work that Bres are including in the DFS (and why DFS isn't going to be completed now until Q1 of 2025), do we know if that has increased the costs of the DFS or is within the $10 million estimate (to be split 50/50 with DFC)?

Looks like a genuine post placing move up to me, and a much better looking one than HE1's post placing price action.

Yes that's fair enough PFG - each to their own depending on their assessment and portfolio situation. (Curious to know how your approaching "opportunity cost" re Bres, which arguably is one of the longest running languishers around?)

BTW well done on GMET - yes I am kicking myself over missing out on that! I did have some buy limit orders on it which never got hit.

PFG - I agree that "opportunity cost" is a key consideration, you have to be nimble on AIM and be prepared to move funds around. But I don't think this share will languish for anything like 6 months. I think there there will be two main drivers coming up this quarter, either or both of which will boost the share price during this period: 1) drilling/NPV, and 2) new COO makes actual progress on Plan C. The first of these - doubling of the NPV, sounds as if it is almost a foregone conclusion. The second - financing for going it alone - is where the big ? remain.

I'm waiting for this drilling permit before going all in, because as we both know, the pesky GSMB has a history of throwing a spanner in the works. But assuming the permit comes through, then I think the "opportunity" is NOW at 1.5p and won't be the same "opportunity" in 6 months' time. But let's see...

I agree re CMET overpromising and underdelivering. This pattern has to stop. But I don't think CMET have had anyone of the pedigree of the new COO before. If you look at his background, he sounds exactly like the kind of person that is needed to drive the project forward. What the project needs is exactly what he excels at.

Cashed up with $2.8 million (potentially another £850k coming in from Sheffield), looking to at least double the NPV and at 1.5p, this looks like a no brainer.

Waiting for this drilling permit before going all in - history here tells us you can never take anything for granted when it comes to the pesky GSMB! But once we get drilling, it should kickstart things here again. How high the share price goes will obviously depend on drilling results and progress made by the new COO. But can't imagine it not going north of here. All imo and GLA

Looks like this is breaking out from its recent placing trading range. Should see 3p by close of play tomorrow.

Let's judge him on his progress. Certainly sounds impressive from his background and supposedly has lots of connections to financiers, so let's whether and what he delivers over the next 6 months.

If they get an exciting new acquisition then great, but don't they already have one in the Hanetti project? So if they announce further exploration at Hanetti with POW, that will be good enough for me. In fact, isn't that what they should be doing rather than taking on a new project?

It's actually quite common for Directors to give themselves cheap options. Someone with his pedigree is only going to come to Sri Lanka if he's potentially going to make a killing, and CMET have to offer an attractive package and incentive. I mean just look at Helium One, they are potentially on the verge of making a commercial discovery (according to them anyway) in the coming months, and the management have awarded themselves options at 25% of the current share price on the eve of this potential transformation event!

PS: he's not started work yet.

I'm not sure about that. I think the market will want to see Bres's finances in place before it will support a higher share price. You see, Bres have had $3 million of the $5million grant from the DFC already. It is said that the DFS will be completed in the next 6-9 months. Therefore, during this time, Bres will need to find $5 million, to finance its 50% share of the costs. Even with the SI and AI, they will be still be short about $3 million. That's excluding its non DFS related costs and working capital.

At some point, Bres will be forced to show their hand in terms of how they are going to fund this $5 million. Until they do, it's high risk of a big equity raise and the market is pricing it accordingly imho.

CMET only has 350 million shares in issue, with a lot in sticky hands. I'm hoping it will double when they double the NPV (through the drilling) and even before confirmation of financing (which I can see taking 6-9 months now).

Yes I saw that. Might be ready to move up post placing and in anticipation of news.