Member Info for Legalwolf

Me too - much happier to be doing business with an ASX listed company. (Part of me wonders whether a Chinese entity was behind the licences getting suspended. It wouldn't have been a rogue minister and/or official acting alone, but would have been at the behest of a mineral sands player, whether domestic or foreign imho).

Sheffield have already helped finance a mine, which had greater initial capital costs than CMET's. They are well capitalised and I don't think raising £35 million capex is going to be a problem for them. I also don't think they would take a 10% position in CMET and then not conclude the deal. My feeling is that CMET preferred to go with Sheffield than the LB Group, who were dragging.

https://x.com/BigBiteNow/status/1793226121011429855

This is what the last RNS said:

"The co-exclusivity period will end on 15 May 2024 and Sheffield will be provided with exclusivity to conclude discussions and finalise the already-advanced legal documentation by the end of May 2024... Capital Metals and Sheffield are well advanced in the legal documentation and due diligence; however, the parties require a short period of time to finalise the agreements ("Agreements"), which the parties are targeting for completion at the end of May 2024."

I think if they were going to need more than a few weeks to conclude, they would have agreed a longer exclusivity extension. Sheffield have seen off the LB Group and can't see them not getting this over the finishing line. So I would expect an RNS in the coming days, most likely next week, but definitely by first week in June.

So I've added some more in expectation and will continue to do so in the run up to news. All imo and dyor

If I wasn't in KAV, I might have taken a plunge with ARCM already. Interesting that both will be drilling at the KCB around the same time. Don't know how close their projects are to each other, and whether their results will impact on the other. Two really good copper plays to trade the boom in the copper price.

Monday RNS tend to be quite good, although it will be Tuesday earliest because of the BH.

Some good points there Paulie. Let's see what happens. I'm certainly not ruling out a re-rate before the DFS, but not expecting it until afterwards. Bres has always been a bit of a slow burner but we can be agreed that it's time will surely come. GLA

Yes, good luck KR. Hope the sidetrack is successful.

Mike made clear that offtake and plant financing can only come AFTER the DFS is completed in Q1 of 2025. He suggested within 6 months of the DFS. What we are likely to get beforehand are non binding MOU. This could change of course but these are Mike’s most recent words.

Both commodities are trading at all time highs. KAV will be drilling simultaneously for gold in Zim and copper at the KCB. This could be a perfect storm situation for KAV 2.0 if it continues to find gold at high grades in Zim and hits copper at the KCB. I've added to my holding and will look to add more in the coming days, as I can see this easily getting into the 2s within a matter of weeks, as the RNS continue to land. All imo and GLA

https://x.com/KavangoRes/status/1792531729435013592

The last placing involved 17M shares at 2.95p, and 17M warrants at 4.43p. That's 34M newly issued shares. Since then, we've traded about 120M shares, which is three times the placing volume of shares and warrants.

I'd say we have cleared most of the overhang from the placing by now. Furthermore, I don't think it will be a issue clearing the rest. It might have been different if we were talking overhang at 15p or 20p, but we are not. We are talking about overhang under 5p.

Therefore, you would imagine that any remaining placing sellers in the 5s will get easily taken out in the coming days and weeks. We traded over 50M shares in only the first week after BG announced the Anza LOI! There will be high demand for shares at these prices once the deal is confirmed. So the overhang is a non issue as far as I am concerned. All imo and dyor

The problem is the lack of expected rise into news. This provides no incentive (or FOMO) for newcomers to take the risk and buy before results. Then when you get sells (whether from Spreadex or placing overhang), it increases the nerves for existing holders. You don't really want a Friday RNS - they tend not to be positive.

Good to see the large buys coming in at these levels. Have we now seen the back of the 4s? This is the home straight so far as waiting for the Anza confirmation goes. GLA

This price action in the days before news landing is exactly what we want imho. The large buys are still coming in. Basically, we are clearing the shares available below 5p, as well as the sellers just above 5p. This action is clearing the path for the share price to rise when the news lands. It means we will see 6p a lot quicker as a result, and then of course you get FOMO setting in as people see the share price starting to move on big news, and the whole thing fuels itself from that point. We have to remember that Anza at 5p is dirt cheap and bargain basement territory.

Just need BG to deliver the news we are all anxiously waiting for. GLA

I think the difficulty here is that Bres is some 18 months to 2 years away from actual production, based on MR's recent interviews. Even then, initially production will only be a small plant and so sort of like a testing phase. The DFS is also delayed until Q1 of 2025, which means binding offtake and binding finance won't land until middle of 2025. So timescales have moved back to what we thought they might be. Therefore, it's hard to see a re-rate here just right now, and I suspect it will have to wait about a year, by which time the DFS will have landed and Bres will be closer to binding offtake and financing. Of course, anything could happen before then with US imposing tariffs on China and looking to decrease its dependency on China. All imo and dyor

Sure there will be traders selling, but that's to be expected. I would expect any pullbacks caused by such selling to be bought into, especially at these lower levels, meaning the price will rise. What none of us know is how much interest (i.e. buying) OMI will attract once it gets Anza back. The stock has been in the doldrums for the last year or so. But the potential is huge here, and there is nothing like drilling results to get a market going.

Only a matter of short time before we hold the 5s. I would expect us to get there before the RNS lands. As for the next significant leg up, I think a lot of money will only commit itself once everything is confirmed in the RNS. I imagine more than a few existing holders will also be adding at that point as well. News should land in a couple of weeks at most me thinks.

Thanks for clarifying folks. But the main point is that these tweets show that the Anza deal is progressing and the drilling is being prepped (otherwise they wouldn't be tweeting like this).

So that RNS we are all waiting for can't be too far away now. All imo and GLA

The timing of this Anza deal couldn't be better for OMI, with a rising POG and the junior goldies perking up. OMI has been one of the hottest gold juniors on AIM in the past, and it will no doubt be the same again this year.

The tweets show that the deal is going ahead, as is the drilling. The parties wouldn't be messing about with Helicopter trips organised by MMA if there were any issues. It's also clear from the tweets that they are readying the drilling programme as well.

Exciting times coming up here for sure. GLA

Good to see them tweeting again. Looks like everything is on track. GLA

POG looks like it's going to retest its ATH at 2400. Junior gold miners are ticking up. Could be a perfect storm here if everything lines up this month and beyond. GLA