Member Info for PaulFG

Definitely not IF.

LW,
I think The Sunday Roast where MFrayne was on his own was very telling. He stated that he was 95% sure their product was going to be used in paint manufacture (or something like that). That told me he basically has the offtaker lined up.

He also indicated/hinted that they awaited the DFS to know exactly how much the development would be and I took this to mean they couldn't sign the offtake (as it included financing clauses) until he knew this number.
Therefore, I agree I think they are lined up to blast forward once the DFS is released (I'm guessing this is probably one of the last pieces for the IML also). I would not be surprised to see an offtake signed before the IML is issued, especially given the hints MF has given that the offtakers want to sign now.
SO yes I agree with your scenario and I think the domino impact post DFS could be pretty rapid...

Dividend yields from these levels will be H U G E !

If its not takenover once its all been proved up. As a single project enterprise it would be a very clean exit strategy.

There is a map of the results published in the pdf format of the rns, and on twitter. If you examine sections A & C they concentrate on the highest % of THMs (20-50%) hopefully this will lead to quire a chunky expansion of the resource.

As a way of starting another thread, without my name on it (LOL) this is worth a listen to. I think CMET ticks many boxes here:

https://www.youtube.com/watch?v=BG7trmLb7pA&t=403s

I agree with everything said. Clearly we're going to have a resource expansion, DFS coming soon (the only thing that gives me a minor concern there is the impact of inflation), IML should kick in soon (you'd hope, though I think the DFS will be required for that) and that IML tick in the box will finally attract any money sitting on the side-lines.

It would seem that GSMB are doing all this work so it's a shame it's taking so long even to get half the drill results without even the breakdown of the component minerals.
It's not so much delays here, just how long it's taking to get anything accomplished.

I agree, chirpy, but it would be very interesting to put these results in context as right now they're just outstanding percentages.
Say the rutile constituent goes to 90% that would be significantly more valuable, or does it increase the JORC Resource by 2mt or 200mt?
Those sort of things actually tell the market the significance of the drill results. That adds value to the company.

So we've only had half the drill results so far, no breakdown of the constituent minerals that makeup these, albeit fantastic numbers, and not told how this impacts our existing JORC Resource.

So from that perspective I can kind of understand the somewhat muted response, this RNS is telling us less than half the story, welcome though it is.

Lol
So this is what you said on March 18th:
"Still not near my buy in price. News due 25 April on drilling results."

Are you now saying it's a placing not drill results?

Lol.
Fingers crossed DRJJ. I didn't think mf gave anything away but happy to follow your prediction, you've been lucky before.
I was heartened to hear him say they didn't require much power to accomplish production goals and what they did need would come from hydro.

Gosh it's difficult to get a word in edgewise with the SVML guy, considering they won't even be in production until 2026 earliest.

Interesting CMET's power requirements will be mainly derived from the Hydro-grid - wasn't aware of that.

Oh I do like a DRJJ prediction!

You know the DFS could easily trigger an offtake agreement on its own. It would clarify the capex required which, by the sounds of the last podcast (with The Sunday Roast), seems like the only thing that has been holding MFrayne back from the offtakers cornering him.

You got a very good price for your top up, hopefully you can treble here too.

one interesting thing to note re GSMB is that they seem to be regarded as a profit centre. I remember reading an article last year that in their budget for this year they had submitted revenue objectives for $200m. Obviously they have a lot more business than CMET on the island, I know they drill for other companies exploring other resources but clearly no one is going to continue to give them drill business if they don't issue the IMLs to take thing to production.

The only thing we're waiting on from SL is the IML and that is granted by the GSMB not the government. DFS and drill results are external to SL.

I hear ya, lol.

WE ALL HEAR YA.

AG
I agree re resource established stocks. I will only invest in stocks with proven defined resources now. I think I exited ECR even before you. Made the mistake of telling the BB and Christ what a reaction!!!

Looks like ZakMirs providing a tech update later: https://www.youtube.com/watch?v=LdkKBlrYTGQ

One immediate positive for Sri Lankans, resulting from the default, is that the "...extraordinary step taken to preserve its dwindling dollar stockpile for essential food and fuel imports." https://www.business-standard.com/article/international/sri-lanka-says-will-default-on-all-external-debt-to-pay-for-food-122041201316_1.html

I understand that the country is united in calling for the President and PM to go but at least these funds are now available to import fuel and food for the populace.