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Interesting discussion.
I was listening to Colin Bird (I know a marmite character but he's been around a long time) on the Sunday Roast midweek podcast AFP, and he made a very valid point gone are the days of the old style JVs where someone commits to something in the next 4 yrs for P1 then in the following 4 years of P2., and then perhaps another 4 yrs before any ruddy decision is made.
Shareholders no longer have the patience for this type of set up, and he's right.
I noted a headline that the US had doled out 29bn usd of these grants as of March 31st
But even so PM is likely to be many years away from production so the DoD may be examining a more immediate solution to accommodate the 2026 import ban.
All agreed.
Factors which will see ORCA projects progress & succeed
1. Energy security contribution
2. Green methodologies
3. We've got what we're talking about - hopefully land that 3rd licensing area in May
4. Efficient use of financial capital, if they replicate the type of deal with PING shouldn't be large CAPEX requirement calls on the company prior to oil/gas income flows. Not saying there won't necessarily by further dilution but it shouldn't be major compared to costs to develop a field.
Buy, hold sit back - as to when who knows, this might suddenly attract a sentiment shift, an approach by another entity to takeover or it might be that we have to wait until first oil (which I doubt will be the case).
CGNR mentioned on yesterday's Sunday Roast where PJohnson was a guest. Pretty neutral to slightly-bearish commentary I would say, at best not overly optimistic just basis how things are going etc, as we're all too well-aware.
Rns dated Match 25th
https://www.lse.co.uk/rns/CMET/holdings-in-company-hlwf77wuqsgx59p.html
Sheffield hold 14.77%
it's in an RNS
As OF recently highlighted the potential we have for silver, on twitter I thought I'd point out:
We've all mentioned/read about how important Tungsten is to the military complex, but looking at our potential silver reserves in PM did you also know that SILVER is also critical to the military? There's about 500oz of silver in one Tomahawk cruise missile !
Love it @clever - that's the attitude, not point moaning about the share price. It's is obvious to us few, us band of investors, that this is perfect to accumulate...as long as there's nothing drastic in the DFS
Lol, OKay sorry guys - bad morning, hayfever I think - enjoy the moment.
Great to see the SP being supported, currently, but all this talk about EUA share price increases and comparisons to a giant like Kenmare is meaningless. Kenmare only go for resources that have 100yrs potential productivity btw.
Comparing this situation to the share price activity in EUA is not useful, you have to look at all the variables, mainly: market cap, commodity, jurisdiction etc.
so not to rain on parades but this is utter rubbish to compare the value of grapefruit to that of a cart-load of pineapples.
Anyway, I do hope the agreement is concluded within that 60 period but I would remind people that the 60 day period only refers to the exclusivity granted to LB & Sheffield it does not mean they have to conclude the agreement within that time period.
@LB probably even slightly less than that in the free float. I held 1% before all this blasted private raise & warrant exercise (lol), so will have to top up at some point to maintain my %. But there will be be others like myself under the radar - I'm sure the John Feneck guy in the US that's always talking about GMET must have at least 1%. So add up these sticky holders and potentially there's only probably on a % in the teens in free float.
Probably why the price is reasonably stable, but does respond to small volume.
Just to remind people the product here is Mineral Sands, within which the one that captures the imagination is Titanium and even that is going largely unnoticed in todays market.
Yes great RNS but what we all really want are drill results - but all this preparation is highlighting where we'll be drilling later. Great stuff!
Donkey agreed that would be my be my ideal resolution for PM too.
I am very excited, like yourself, for more data on Garfield and Golconda, but have little or no interest in the lithium project.
Donkey - I'm hoping that OF will apply the warrant exercise monies to Garfield. And he has said they are proceeding with Garfield so I don't now think it's holding it up that much.
If we can double PM that adds so much more value to the company and they could perhaps look for a strategic partner on improved terms.
I would love it to happen within that timeframe, but going on history here I just don't believe it will.
BUT I remain prepared to be very happily surprised.
Sorry LW, Grants are in application, they really cannot say anymore than that - hired an expert (who also holds about 5.6% in the company, she recently upped her stake through the warrant exercise process). Grants will land when they land, The thing is OF has the funds to proceed with PM without having to wait for them to land, so it's not holding up progress here.
and...we're not even talking about the other prospects on the licenses...
LW, drill permits for Pilot Mountain, that could double the resource according to OF, are due anytime ... OF has lined up the driller and knows exactly where he wants to drill.
Wondering why POW haven't exercised their warrants yet?
Don't they have the funds?
Bloody great story here! But I think the Gold story will distract from this being noticed for a while longer, though smart money already moving in as we've seen from the private placings.
Also wondering about how happy the USA will be if there's a Chinese offtake, what with the DFC grant 'n all. So I'm wondering how long they will permit those discussion go forward before stepping in with something like we saw with Perpetua recently.
H2 2024 could be very interesting here.