Member Info for PaulFG

Jeepers, I'd like to know who isn't underwater in this share.

OKAY, I agree Frayne has clearly demonstrated he doesn't care about retail. Thing is here the OGs have maintained their holdings intact but they didn't participate in the last placing. SO who does Frayne think is going to push this SP up? NOT CEO TYPE THINKING! Unless he has institutional buyers lined up on the sidelines ready to buyin on some box tick (IML, DFS, offtake) who is actually going to raise the price on this puppy?

I guess we have to bite the bullet and accept if we're investing in this sector there is going to be frustration with progress being made - you can see it on every single BB in the sector on LSE.

The price of Rutile is going gang busters. I think I read somewhere the spot is around $2,300 - that's more than GOLD guys. (don't ask me where I saw that, can't remember). Currently 14% of our JORC resource is Rutile. That's why I was so keen to see what the composition of new drill results was. Hopefully GSMB are on the case.

ON the SL front - World bank are giving $600m loan and it's raining like bejaysus in SL, so hydro power plants such be pumping out energy.

This was the section from WH Ireland that mentioned Oluvil:

"Infrastructure
The area is well served by roads and power. The port at Oluvil is currently under-used
despite being constructed in 2013 with only minor dredging required to achieve a 10kt
shipping capacity – more than enough for Capital at this stage."

His chipper telecons?
Is this something coming from the Telegram group?
Considering I can't get him to reply to an email I'm v surprised he's having telephone conversations!

Re the port...there is a comment in the WHIreland report that indicates this is not a major thing.
I know the satellite images look horrific but in actual fact it may not be a huge dredging project to clear.

FRAYNE's deadline announcements have probably resulted in most of the frustration here. And in February on the TMS podcast where he predicted announcements by end of Feb I think he misled the market in order to get the placing done. I notice TMS have not had him back on since then and I do remember David Burton tweeting at the time that anyone that used TMS for placing purposes would not be back on their platform...hmm...

Because of that I doubt Frayne would be able to get another placing off without any real news and frankly at this stage I would expect to hear that the Directors have ceased to draw a salary in order to preserve cash - something I do hear in other companies.
And before you rush to his defence again LW, I understand most of this stuff is out of his hands BUT he's demonstrated such naivety (at best) that it borders on incompetence when he makes these statements. He is a major shareholder and as such I think he should start to ask himself if he's best suited as the CEO of this company if he cannot deliver 'imminently'.

I agree and I also learned a long time ago that the market ISN'T always correct.

I think the concern is more macro rather than micro

LW
Yes thanks, I remember reading that also which is why I said last week that the final signed off version of the DFS will have to be submitted to the GSMB before they can issue the IML. Of course as someone else said CMET may receive the DFS and submit it to GSMB without notifying the market. But given the lack of data we are ever provided with I would hope they would at least let us know that they had received it.

LW
Re IHC, yes there have been a couple of iterations of the report, hinted at by the wording in the RNS, HOWEVER, I would then ask why were these necessary, if iIHC had done a good job? Ok there will always be tweaks that's normal stuff but we are well beyond what FRAYNE indicated last year as the delivery of the DFS (Q1 2022!!!)

Re GSMB - I actually don't have a problem with them on the drilling front I think they executed pretty promptly. It is their analysis that is woeful. Alternatives to this? Of course - Australia and South Africa to name but two.

The problem is him announcing time frames over stuff he's little control. The real issue is cmet using crappie third parties.
IHC clearly meaningfully behind the schedule they gave to CMET when they were engaged.

And GSMB...for christ how awful are they. Maybe not on the drilling side but for Gods sake they've delivered pathetic analysis, without any analysis of the mineral components, of half the drilling and its taken them about 5 months!

So the question is about Fraynes ability to appoint efficient third parties.

"The conceptual open pit evaluation shows that even at low revenue factors the kimberlite is potentially commercial when applying current industry standard mining and processing costs."

It's hardly the dramatic bullosh statement investors have to come to demand. Not surprised its come off a little bit whilst awaiting further news.

Exactly, LW, MF has also indicated this in his very last podcast with the TMS crew I think he stated the biggest risk is the risk that it just takes longer.

I think all of us that have followed closely here are quietly confident. It will be rewarded...someday.

Just to remind phase 1 only required $10m, phase 2 $25m.
I agree the impact of inflation is my concern also.

Given what MF has said about offtakers, not just that they wanna sign now but more importantly that they're essential to the financing of the project. I'm hopeful even a little confident, MF has them lined up ready to go.
But it's never a done deal until...

SO MF said he expects the DFS imminently, that literally means it's about to happen (literal meaning).
He's indicated they've had drafts, edited them, redrafted and IHC are now concluding the final draft. I expect the final sign-off draft has to be included for the IML, although as you suggest LW they may have submitted data from it separately.

IMMINENTLY -unless Frayne doesn't understand English means 'it's about to happen'...

"The average grade of results to date is 19.94% THM which compares favourably with our current global resource grade of 17.6% THM and these results indicate possible high-grade resource areas not previously identified."

100% certain from this JORC resource will be expanded.

I think you have to put that RNS in context.
It didn't tell us how much product they discovered
It didn't tell us if the component products are a better proportional value mix than what we know we have already
It just told us we've discovered sources of better grades.

Hi Josh,
I don't think we've had anything since the last Interims on the RNS - you might reach out to the new'ish CFO and see if he can offer you any insights.

It's a great headline but you have to read the whole rns....not much else.