Member Info for PaulFG

Yes I understand all that, although he indicated about 2-3months to ship to Oz in an interview not 3-6.

Problem is where the mineral sands are located in Greenland is not accessible for a big chunk of the year so I hope they're ready to go to achieve what they need to this year asap

"The assay results and the assessment of a potential upgrade to the existing JORC Resource are expected to be announced in Q2 2022."

Gosh it takes forever to get the drill results.

Yeah I have no doubt about upcoming drill results. It's just a matter of country risk.
Let's see...

I agree AG I've always been so impressed with the drill results here, but look where the sp is. Perhaps most of the risk is already priced it.
The signing of the Term sheet is just that last tick in the box perhaps and I would expect the DFS to highlight whatever in country risks exist.
I'd be willing to wait until then.

* atrocities...

LW, all I would say is look at Blackstone and Polymetal. The thing with most of these Aim stocks is having the resources and patience to ride out the tough times which might be lengthy. The big boys do. But they don't always get it right either.

The headlines in Mali, for me, are worryingly deteriorating each day. I'm not as much worried about Wagner but what atricutuesare currently being executed by government forces. You can only push a population so far.
I love the company but I don't see a need to rush in right now. Even with good drill results previously the price hasn't gone crazy. For me there's time.

I have to agree LW. The jurisdiction and the gradual progression into anarchy, although not a certainty, is the ONLY thing that holds me back form investing here.
They consistently get great grades in exploration, have a financing package lined up to become a producer and an excellent team. BUT all that means nothing if the country descends into mayhem.

Jurisdiction is always important but in the last two weeks it's almost my number one concern.

I agree Adam has gotten better at interviews and I admire the fact he won't be led into stupid comments like 'we'll definitely have a mine there', as he said to AGreen it's far too early.

As it's coming up to St Patrick's day, I thought it might be worthwhile to remember what WH IRELAND said recently
(ok I know the link is utterly ridiculous - ST Paddy's --- WHIreland, lol)

... "We expect the resource to grow after recent drilling with value
appreciation as Capital goes through the stages into production. As a producer, we
would expect it to be valued on repeat business with a peer multiple value of ~$180m
(77p/sh). The Eastern Minerals Project will be a company-making asset."

--- "We see fair value in Capital at 33.3p/sh based on a simple DCF10 of the project risked at
inclusion of only 50% of the NAV for stage. The high-grade, low capital cost of the project
at only $40m (WHIe), sets Capital apart from some of its bigger peer projects, which
require several hundreds of millions of dollars. There is plenty of space for small, nimble
players in the mineral sands sector and no barriers to entry. We see the key risks lowered
following issue of the EIA (23.11.2021) with low ongoing risk from permitting and the
capital markets for access to capital (in common with all junior developers)."

Was reading the SVML Dec 2021 quarterly report issued on Jan 31st, in which they say their drilling took place in the last quarter of 2021, about the same time as ours. They usually send their samples off to Perth.

I know it's a bit of an extrapolation, but given they published their results today I have to imagine CMET can't be that far behind.

With retail, regular comms is almost essential I would say. That's why I've always thought Frayne doesn't care about retail. Though tbh I think he's just very uncomfortable giving interviews - I've watching him back years and honestly he looks like an uncomfortable geek. OK not everyone is great, so employ someone who can do it - James LEAHY is apparently the Communications guy but he's even worse than FRAYNE.
Their lack of talent has already led to a massive selloff, lets be honest. The CMET story isn't being put out there like companies such as SVML, PYX, GROC etc etc are doing and in the end if no one knows about your project how can you blame them for not buying in?
As pointed out yesterday by my_opinion i's even more worrying if the LT big PIs are reducing their stake too.

I notice SVML announced their drilling results of their mineral sands resource today, they drilled sometime H2 2022, so not sure how much further behind them we'd be. GROC sent their mineral sands samples off to Oz a couple of months before us, they still haven't announced results.

I was watching some of the presentations and interviews from the various CEOs at SVML & GROC and honestly MICHAEL FRAYNE is just bloody useless in comparison.

Overdue items are DFS and drill results, both external to Sri Lanka.

In that infamous TMS podcast, Frayne did say the biggest risk was everything just taking longer - risk crystallised! lol

Whenever I want a little comfort and a break on dumping the whole lot and going somewhere else, I reread the WH Ireland report which really does compare CMET prospects very favourably to their peer group.

my avg is about 12.5p, little did I EVER think I'd be nearly 50% down - I feel your pain.

ah ok, cheers. There was a 1m share sale absorbed after the placing maybe that was it.

Hi my_opinion - where did you see that they'd reduced their holdings? can't see it.

lol
I like your style, Airborne, you'd probably have a much more enjoyable time and the way things aren't going here you might even make more money.

Coincidently, just saw this on PRNEWSWIRE about Energy Fuels:
"Energy Fuels is quickly building a new, environmentally friendly REE supply chain in the United States, and the Project with NSP represents an exciting opportunity to significantly improve the REE metal-making process and potentially provide Energy Fuels with a competitive advantage in the REE supply chain. At its White Mesa Mill (the "Mill") in Utah, the Company is currently producing mixed REE carbonate ("REE Carbonate") while recovering uranium from natural monazite sands ("Monazite") which are produced as a low-cost byproduct of heavy mineral sands mining in the U.S. and around the globe. Energy Fuels' REE Carbonate is the most advanced REE product being produced in the U.S. today."
https://www.prnewswire.co.uk/news-releases/price-of-uranium-in-2023-expected-to-surpass-2022-as-demand-climbs-874251854.html

I guess we'll have to wait to see if CMET say anything about it, would be good if we saw confirmation the 'upcoming' drill results analysis.

Have searched the WH Ireland report and they don't mention Monazite at all (bizarre) all they say:
"The VHM component consists predominantly of
ilmenite and garnet with lower amounts of altered
ilmenite, leucoxene, rutile, zircon and silimanite;
these seven heavy minerals make up approximately
87% of the THM assemblage of the total VHM in the
deposit."

GIVEN the possible strategic importance and implications of monazite mixed in with ilmenite and given that CMET did mention it in passing in their latest presentation not sure with WH Ireland would exclude any mention of it at all.

Been doing a little research as I was going through the last CMET presentation again and noted a tiny side note on slide 9: "Sillimanite and Monazite products not included in current value."
Monazite rang a bell but couldn't remember why until I remembered reading this article recently:
https://island.lk/china-leading-world-in-new-type-of-energy-production/

"Mineral Thorium is plentiful in the world. Sri Lanka’s deposit of ilmenite mixed with monazite is worth tens of thousand billion dollars. "
Apparently, CHINA is a leader in the research in the use of Thorium as an energy source.
As with many other things I'm no expert here but apparently Thorium is a substitute for uranium in power plants.

I've not heard M Frayne ever mention anything about this and so not sure as to how this might impact the value of our mineral sands deposits but they have at least mentioned there is Monazite mixed in with the ilmenite.

The forthcoming drill results might reveal more...