The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
The biggest problem is they are now talking about production being in Q1 2026. If that's a month or two late, that's two years away. We have been told its so easy to extract this out the ground but by then we will be 5 years into the 10 years licence I think? Pretty ridiculous.
Was it ever confirmed they started? I know the RNS came out in March saying drilling expected to start in April, but I follow them on Twitter and they never posted anything about starting. I know it's not worthy of an RNS, but if they started I thought it may merit a Twitter post etc.
I'd like to think so but just doesn't seem to be a lot of love (or knowledge) of this share just now. If it wasn't for Ando yesterday then we would be under 5 again.
Hope Greg can promote us in London and hopefully there are others waiting until the deal is finalised before looking to put their money in as well.
I know you had predicted out with this window Paul so you look likely to be spot on. I can only speak for myself here, predicting within didn't mean that if it wasn't concluded i thought it would be over, I just expected it to be concluded before the 60 days. After the last interview, now I don't.
Well the last Greg interview seemed to taper those expectations, he was talking about SR still doing their DD last week, and people are still predicting RNS by the end of that week. I think within May will be good, I don't expect it within the 60 days now.
While it was a good interview I think Greg was softening the investors up for nothing to be announced for a couple of weeks. I'd love to be proved wrong but anything before the 15th is a bonus, but it does sound as if he has it in hand.
The disappointment from the interview is the timescales, production in Q1 of 2026, so almost 2 years from now was longer than I was hoping for.
I'm sure we are going to see ups and downs in the SP until then, surges at JV announcement/licence confirmation/resource increase followed by the herd arriving and regular sell offs after.
However, if we are all chasing the 10 bagger from these levels, it looks like we are going to have to sit tight for a couple of years and hope nothing material changes in Sri Lanka politically and we can carry on as planned.
Still huge credit to Greg though for all the work he has done to get us to this stage. More patience required though to see this through.
GLA.
Link us up Ando.
Let's see the contract first and spades in the ground before we start planning a meet up.
However, if this goes the way we are all hoping I am more than happy for beers with all here!
Ah sorry , was maybe unclear below. I meant if anything breaks on a Friday afternoon, which Ando was still hinting at, I'd eat my hat and take 10 days off here.
Its only my opinion but I dont expect anything in April.
I'll be on here at 7:01am mate, hope you are 2/3 tomorrow.
It's a fantastic resource they have, with a Government on their side. One of the two surely has to snap this potential up asap.