Member Info for Legalwolf

"You can guarantee if he had talked about going it alone and not mentioned an equity raise then Legalwolf would have started banging on about how hes not being upfront and deceiving everyone."

No, totally incorrect. Had he not casually and sloppily mentioned the placing, then I would have been more confident about the rest of the interview albeit wanting more details, which he said would arrive in 6 weeks or so. Now it's a factor that will put a lot of people off. Have to factor that in.

If it was such a great interview, and with the share price at basement levels, how comes there's been no buyers in response? Could it be the impromptu pre-announcement of a placing that has killed sentiment? Is it wrong to even moot and debate this as a possible reason on what is meant to be a forum for debate and discussion? All imo and dyor

That wasn't aimed at you BBN and I apologise if it came across otherwise. Your posts are always well reasoned and informative, including the current one. I don't share your views about the current CEO. In more recent interviews, he has come across as almost smarmy and too casual in his approach to me. Comments like "we might be happy to give up the upside to do a deal" and his recent placing comments, casually dropped, are NOT what you would expect from a shrewd operator. He doesn't come across as shrewd to me.

My view is more about sentiment, which is what drives AIM stocks. I'm yet to see an AIM stock that pre-announces the possibility of a massive fundraise do well regardless of all the other positives, because each and all of these positives isn't going to stop your holding having its legs chopped off by that future placing - 9 months is not a long time. Better not to have mentioned it at this juncture imho, when sentiment had already taken a hit. The rest of the interview was okay, but this revelation soured it for me. I mean, you can see the reaction to the interview in the lack of buys.

I wouldn't be surprised if the seat is being kept warm for Sheffield, to come back in 9-12 months time, by which time they might well have stabilised the situation at Thunderbird and might well have double the existing resource to take out on the cheap? All imo and dyor

Running out of cash ahead of a big and potentially boom or bust drill, is about as high risk as it gets in terms of investment scenarios? So yes, I would agree that they do need to update on their contingency plans re the finances, or are they going to let the market infer this from silence and continuation of Anchois drilling?

Yes obviously some of you need to ramp because your underwater. I get that. But the guy in charge is simply unimpressive. He just very casually drops things in an interview with little forethought or regard for the potential consequences. IMO you don’t casually pre-announce a $5-10 million funding gap to be filled by a placing in 9 months as your comeback plan. A looming massive raise of that nature is rarely good for sentiment on AIM. It will require a huge discount. Those of us who frequent the AIM casino regularly know this. Needs a plan D imho.

Sebo - do you really see the share price sustaining a rise when the market has been told a big fund raise will be needed? I think it’s naive to pre announce it but wthdik.

Just listened to it. Did he really pre-announce an equity raise of ~ £5 million in 9 months? That's going to be a killer given the current mcap. I mean, why does CMET need to raise £5 million itself as part of this plan C? Surely plan C should look at avoiding dilution. Think we might need a plan D already 😂

It pulled back just before the bell. One to watch on opening for sure.

Yes - with each month that passes a raise gets closer. I'm no longer convinced that a raise will only likely happen after the drilling, unless BG comes out and says so. It looks like it might happen the other way round.

Going like a rocket into close. Stopped myself chasing it despite the feeling of FOMO.

SW1000 - I agree.

Better for GCAT to resume trading with as many issues resolved as possible and some peace of mind/closure on the financial reporting fiascos, without worrying about the next set of accounts being delayed. It shouldn't be too difficult for PKF to bring everything up to date as they will have done most of the work already and seen the relevant evidence?

Bebeto might have a point - getting PKF to do the lot, avoids having to engage another auditor straightaway and then have to deal with their approach and queries, resulting in more back and forth. I also don't think the FCA is going to tolerate late accounts and suspension again?

No - I think i'm going to wait to hear what is said. I appreciate that drilling is exciting, but CMET is post discovery and all about production. Without the prospect of production, drilling and resource expansion only gets you so far. So I'll be listening out for whether there is any substance behind the statement that "the Company also continued to study alternative funding options via equipment vendor finance and offtake finance, which are not dilutive to equity."

If he's able to put any meat on the bones and timescales around this, then good. If it's left vague and aspirational, then not good at all. I'm done (and fatigued) with waiting months at a time for CMET to come good on its promises.

I think the problem is that the updates provided by BG have been wrong or inconsistent in TWO different but equally important respects: 1) The timescale (shifting sands) and 2) Exactly where the process is at (negotiation or approval)?.

Today's update read in conjunction with the previous ones makes clear that the deal itself is still being ironed out and that "ancillary agreements" at least are still being "negotiated". Only once this process be complete will they a) be able to determine whether/what regulatory approvals they need, and then b) start the process of seeking those approvals.

So definitely not going to be all done and dusted in July, and I think September is the most likely date now.

Why are we not being told anything about drilling preps for Pepas in either the RNS or twitter?

I will reserve judgement until I hear what is said, but realistically, so soon after the collapse of the JV, how much renewed hope and based on something concrete will CMET be able to provide? If it's just some vague and rampy aspiration to go it alone, how much re-assurance will that provide to the market? It's going to need details of the third party that is going to come in and provide the funding for going it alone, whether it's offtake, debt funding or some other mechanism, to really sound credible. But I think it's too early for that just yet. But let's see...

"Upon spud and re-entry into the cased and suspended well, the Company will deepen the well to intersect and test more fractures in the fractured Basement helium play PRIOR to commencing the actual EWT."

As I have said before, this is significant because it opens up the high probability of finding some more Helium at depth and releasing some good news to the market BEFORE the actual EWT results. That good news could even be that Helium has been found in the fractured basement play in concentrations of more than the current best of 4.7%, because we have previously been told that the Helium % was increasing with depth in this well. If so, they might even do the first EWT here?

The upshot of this is that we are highly likely to get some share price boosting positive results even before the EWT. All imo and GLA

Nice attempt at de-ramp. They haven't changed brokers, the brokers have merged!

Are we going to get one of these each month, without actually telling us how long is left? He's gone from saying it will be done in April, to now saying May, June, July...

It does sound like they are still working on finalising the deal, rather than having finalised it already but waiting on regulatory approvals. I doubt this will be done in July.

Yes, a very upbeat sounding update. Should do well this month.

1p first stop incoming!