Member Info for Legalwolf

Hoping KAT will have a strong couple of months. News expected during this time. I think sub 0.16p is the early buying zone and will add on the next pullback.

Looking to good to breakout from a very long base (which tend to lead to the biggest moves). I think sub 0.16 is the "getting in early zone". HNW/instis loading up at these levels before news lands. Won't be too long before the level is breached. LC will be gone in 8 weeks. We should get some big news during this time as well.

Looking to add again at these levels and will then just see how it all plays out. All imo and GLA

Sounds very much like Anza is coming folks - soon to a cinema near you.

How we all feeling about BCE? Are we still at the point where it could still go either way, or is the time being taken to report back more indicative of good news or bad news?

I generally don't like these AIM stocks that get into billions of shares - that in itself is a red flag. But maybe worth a punt when they are done raising.

BDC - under the JV with ENOG, isn't 10% of Lixus valued at well over $850 million?

Sorry, but not going to take any advice from the jonny come lately brigade. I was here when we had to endure the painful wait for the EIA, then the IML, then the suspension and reinstatement of the licences. So I have experienced first hand here how Sri Lanka is a painfully slow jurisdiction.

Surely, the next announcement should be when the deal is closed, so that we can all see the details of it. We can handle the fact that it will be "subject to regulatory approval", but why kick the whole announcement down what could be a very long road? Why do we have to wait for regulatory approval?

Time and delay costs money on AIM, so it's a perfectly valid question. If you want to keep your money sitting through a long wait, that's your prerogative. I have done that here before and it didn't end well, so I won't be repeating the same risk again. That's my prerogative.

Yes, KAV getting ready for some serious revenue generation. I think this is a good time to add, before the news starts to flow in as it will be a very busy and exciting Q3 coming up. Probably the best so far, as we will be drilling with three Rigs across two projects, with results coming in from Nara as well. All imho and GLA

Total mess, but could be a decent recovery play after the next financing? Difficulty is knowing wth is going on, as too many twists and turns with this plant, and not sure shareholders are told the complete facts with each update.

Is it right that Argentina has also been getting some positive coverage as a favoured/growing mining jurisdiction? I'm sure I read something recently about this.

To be clear, I'm out and remain out, and have posted my reasons as to why. I said I was waiting for the RNS to land. I'm afraid this RNS is not going to lead me to buy back in here just yet. It doesn't tell us anything or new about the deal itself and the following passage does concern me:

"A further announcement will be made only when all requisite approvals have been received and legal and regulatory documents have been finalised and signed, or when required by regulatory obligations."

I have to ask, how long is this going to take exactly? We know from our past experience of Sri Lankan authorities that they are never quick, and are capable of throwing in the unexpected. Is it going to take weeks, or months?

What about the drilling? Is that going to commence regardless of the deal being completed or not, or is it going to have to wait for the deal to be concluded, because Sheffield are going to pay for some or all of the work?

So for me, too many key unanswered questions right now. Maybe another interview is needed 😉

Argentina sounds almost as exciting a gold project as Anza undoubtedly is. Not sure there are too many AIM listed companies with better gold projects than OMI? Would be great to put a few holes into this project early next year.

Good to see that institutions/HNW are loading up here. They will support the share price on its way up. We can’t be that far away from news. GLA

KAV is gearing up for what will hopefully be the year of discovery by strengthening its team.

Yes makes clear that the Anzá deal is continuing and that they are in prepping drilling.

Yes, it's the incessant desire for a daily audience, to be proved right and have validation. Also there is a certain lunacy in buying shares in a company and BOD you have little to zero faith in. This is literally investing insanity at work (if it is true).

Does anyone want to dig out the 100s of posts that used to proclaim on a daily basis that this was going to 60p+. Didn't listen to that rubbish then, and not going to listen to the rubbish now being spouted at 4.5p.

Unless BG/OMI tell us otherwise, there is no reason to think the deal is not going through. The only issue is how much time it will take to complete. I would like to think that if BG was willing to put April and then end of May into a RNS, that it won't go much beyond early June.

These timescales often overrun when due diligence and paperwork need completing. A current case in point is CMET, who said end of May as well, and although seemingly close to agreeing a deal, but won't complete it now until June. Such s h i t happens regularly and is not a reason for panic or anxiety in itself. Especially if the company is communicating an all is well narrative through its tweets.

So unless the BOD are truly rotten and playing games, expect the good news to land any "week" now. All imo and dyor

I don't think anyone is expecting the JV to fall flat. On the contrary, it looks highly likely that they will do a deal. It's the detail of the JV that is open to debate. There are two main questions:

1) Will Sheffield finance the project to first production? Will the answer now depend on the resource expansion, PFS and FID? (I would say yes, and can't see Sheffield committing to anything until this work is complete. They will be happy to fund the work required to get to FID.)

2) If so, will or might CMET have to pay some of the costs to first production, or will it be free carry from Sheffield all the way to this point? If the former, then you are talking £millions that CMET will need to finance.

Overall, I think the JV will be one to gets to FID, and might not pre-agree and set in stone what will happen thereafter. But Sheffield might lock in some non binding options. All imo and let's see.

That's right PFG - and the deal needs to ensure that Sheffield are paying that $37 million (or whatever the phase 1 cost turns out to be) to get into production. Both companies then fund the remainder jointly (but CMET's share comes out of the profits from phase 1). Both companies have a 50% stake in the project. IF the deal ensures this, then great. This will have been an unnecessary mini exodus and overreaction.

But if this deals leaves CMET actually or potentially liable for any significant portion of that $37 million, then I would remain concerned about what is going to happen.

Airborne - I'm out for now. I post what I think and buy/sell in accordance with that. My instinct is to protect my capital first, especially on AIM, because the liquidity can disappear very quickly if you hesitate and your fears come true.

If the deal merits it, happy to recognise my error and buy back in if that suits my portfolio at that moment in time. All imo and GLA

I don't think it's about 18p. I would argue that our target is simply getting out of this now very large base i.e. holding 10p. That's only 1.5p from current levels. If or once we do, then all of a sudden, sentiment starts to change. You suddenly start to see the blue sky upside again, and before you know it, you are at 13p, and then 18p comes into sight, and so on. The moaning and frustration recedes and is replaced by optimism. People convert on the road to Damascus and become believers again. That's how the laws of share price physics (aka investor psychology) work.

So imho all that needs to happen is we make a more modest move to 10p. The drill is still some 10 weeks away, so plenty of time to climb 1.5p and hold it. That's all that needs to happen and the rest will take care of itself in the usual feedback loop manner. That's the trade! All imo and GLA

Erm this sounds illogical to me. If the actual Capex is going to be far less, then that is something that I am sure he would have been boasting about in the interviews, because he was more than happy to do a sales pitch about the other aspects. So I don't think the Capex is going to be far less. Also, £81m does appear to be cheap, when you compare it with the capex of some of the other mineral sands operations that Sheffield are involved in.

I don't this selling is an overreaction. Look at the two large sells that have just gone through. I think a lot of people have lost confidence based on the noises coming out, with goalposts being moved by the sounds of it. But let's see what deal actually lands, whenever it lands.