Member Info for Metalhead25

Thanks, so nice to be able to get an answer just like that

Hi Tharisa

Excellent performance, thank you to all involved. Just one question- are you able to explain why net cash seems to have increased by a smaller amount than in Q2, despite significantly higher revenues? I know there was the dividend paid but I don’t think that’s enough to explain it. Is it additional expenditure on Salene and/or Vulcan?

If the survey was due to be completed today, I certainly wouldn’t expect an RNS with results today. There is bound to be processing time and time for the company to consider. I’m not criticising your post at all, just don’t want people to be disappointed

Everyone is entitled to their own opinion but I think Scott has done reasonably well at Corcel in the time that I’ve been holding. We’ve had the acquisition of two gas peaker projects (one of those coming with the prospect of more deal flow from Arlington) and the grant of the Mambare environmental permit. Before my time, I understand the dispute with the Mambare JV partner was resolved and our interest in Burwell increased. Things are dragging with Burwell at the moment but apart from that I think progress has been decent of late

On the RMI debt, there have been some pretty strong hints that we’re going to get Wowo Gap (or an interest in it) rather than cash. I guess it isn’t done till it’s done but I think that is the clear expectation. At that point, we are way undervalued relative to (eg) AMC (3 times our Mcap) even just based on the Nickel resources

Think people are just getting bored of waiting for Burwell, which was the main source of excitement earlier in the year. Based on Scott’s recent interviews, it seems he now accepts that the timing of Burwell is out of their hands. However, we might get news soon on Wowo/RMI or on the gas peaker projects. There is a lot going on at Corcel and the company is now clearly undervalued again, irrespective of Burwell. I’m considering adding more tomorrow

Very nice update today. This share now looks significantly undervalued

To be paid 30 July, isn’t it? (July, not June)

Excellent update this morning: production on track and ramping up, production forecast significantly higher for next year (even without Coringa), finances very strong, exploration going well, preparations about to start on bringing Coringa online. The future looks great.

I would just like to say that I find Sotolo’s contributions to this board to be respectful and informative. And I can’t see why someone who actually had a negative agenda would be constantly saying that the company is good value and that he/she is buying. Sotolo’s take may be more measured than that of others, you may feel it’s somewhat negative, but it takes all sorts you know

Don’t think there are particular concerns about that at the moment?

Maybe, but the latest comment from the company re production has all been upbeat, as far as I know. I suspect it’s just the ups and downs of low volume shares. Notice the company is doing an LSE webinar on 6 July so perhaps that will reassure

Anyone got any idea what’s going on with this share? Obviously the gold price just took a beating but CMCL was heading down before that. It’s now down to about half the August 2020 peak. Any theories?

Fair enough mate, agree with all that!

I agree this is the most likely motivation for his shenanigans and I agree that if he has depressed the price it has benefited those (including me) who have had the confidence to buy/add. However, for every buyer there is a seller and who knows the circumstances of those sellers who have sold at a depressed price. Maybe they now can’t afford a holiday next year, or can’t buy their kid the birthday present they wanted, or have to work longer before retiring. I don’t think the practice of using false scare stories to drop a share price should be made light of. It’s a really grotty thing to do

Oh look, it *was* possible to get an extension from AIM. Looking forward to Bushy apologising for the 2500 posts he put up saying that it was impossible. Tick tock…

Why “finally they accept”, Torre? I feel like I already knew Burwell was not shovel ready and that the land sale was holding things up - not from you but from the company.

In raising this as someone who never had a go at your for your rumour and who just likes clarity

With a big sigh, one last attempt:

1. The ordinary time limit under the Companies Act is 6 months.
2. The ordinary time limit under the AIM rules is 6 months.
3. Serabi is a UK company listed on AIM so *both* of those requirements apply to it.
4. Both under the Companies Act and under the AIM rules, it is currently possibly to apply for an extension of time.
5. Serabi has already obtained an extension under the Companies Act. We know this because the resulting extended deadline is visible on the Companies House website.
6. We don’t know whether or not Serabi has applied for or obtained an extension under the AIM rules, because AIM does not publish deadlines on a company by company basis.
7. What we do know is that (a) when Serabi sought a Companies Act extension it got it, (b) Serabi has emailed people on this board indicating confidence that it will get an AIM extension if necessary, and (c) that confidence seems justified, since AIM’s published guidance (and Bushy’s law firm) says that extensions are currently available.

You posted a link from a law firm which says that the 6-month deadline imposed by the AIM rules remains subject to the ability to apply for an extension. Not sure how that supports your point, but in any case the AIM deadline and the Companies Act deadline are different things (albeit both ordinarily 6 months). You started bleating on about the Companies Act so I pointed out that that deadline has already been extended. Now you’re harping on about the AIM rules again. You’re pitiful.

I’m a “good lawyer who specialises in the Companies Act 2006”.

The Companies Act deadline for SRB filing accounts has been extended to 30 September. This is easily confirmed by searching for Serabi on the Companies House website. Next…