Member Info for PaulFG

I've given up on price speculation, Airborne. I think given all the data already out there the big money is still sitting out until that major box tick, that IML, will result in the most significant and sustainable revaluation in price.
IF all goes well and we're indeed in preliminary construction phase by June would not be surprised to see us in the 30s.
ALL THAT SAID I never expected us to be 7.5p bid at this stage...so what do I know...

So given what's occurred in markets today in a way I'm glad we haven't had the good news yet. Quite happy to wait another couple of weeks.

JF - yes, and as soon as I heard that (given history here) I immediately put the release date into first half of March.

THAT SAID we were also supposed to have had the DFS report in FEB (?). I mean this SURELY must be something CMET mgt team have more control over? They must have had a deadline on this, unless they are waiting for the drill results to be somehow included with it?

Main thing for me would be the IML, I just hope that is still on track for Q1, although obviously that's more out of CMET hands.

I have to say it's the current country risk associated with Mali that's putting me off, not sure if the French pullout has mitigated or increased that risk. I love the company and the structure financial and geological that they have in place.

Yes, LW, that was also my way of thinking...

So next week is effectively that last week in Feb, a month that promised so much and only delivered a Placing (which in hindsight might be seen as a good thing).
What do we think the odds are that we ACTUALLY get some positive value-releasing news next week?

I'm going for 50-50.

Well I've been buying since 15p, average now 12.5p, which I never thought would be hurting this much. Lol

Fully loaded now, that's me done.

I did remember thinking at the time that it took cmet forever to send the samples to the lab.
There is really a lack of urgency with everything this mgt team does. Would be good if the original large PIS gave them a good kick...because God knows Frayne doesn't care about retail.

Interestingly TSL just sent their samples (from their SL project) to South Africa.

This was all I could find:
"The Company has engaged the Geological Survey and Mines Bureau ("GSMB") in Sri Lanka to undertake the drilling program. The drilling program is a combination of infill and resource extensions and aims to confirm previous drill work and test with extension and step out drilling. This will assist the Company to delineate the key areas for any mining license applications over EL199 and build out our resource estimate. Drilling is permitted under exploration licenses and the Company is planning to drill 500 auger holes which will take approximately 3 weeks.

Richard Stockwell, our newly appointed Technical Manager, is overseeing the drill campaign and ensuring strict Quality Assurance protocols are adhered to. An older dune sequence, which appears to contain a high-value mineral assemblage, has been identified by Richard and will be tested during the current drilling program."

Direct from the RNS on October 5th 2021

Moneral sands- Strandline is already half way through construction Cmet (Capital metals) starting construction by June
Graphite Tgr already operational in one geography and getting going in another.
For sure there are more

I'm not in yet but definitely keeping an eye on this one (nice portfolio of assets in good geography). Problem is lead time to mine construction has a number of hurdles to overcome (not saying GROC won't overcome them, but have seen elsewhere that bureaucracy can significantly lengthen those lead times). So there are shorter lead times elsewhere right now. I think this probably explains much of the drop since launch.
But I definitely like the feel of GROC.

Also I think I remember watching an interview sometime last year where the CEO basically indicated the dividend was going to zero (close to) for a couple of years (?) to fund new mine development - investors are probably pricing that in. Once that development is successfully concluded I expect attention will return to the share price. In the interim there are other good plays available in the Mineral Sands sector. I expect the whole sector will start receiving more attention barring WW3 or global economic meltdown.

One good thing about geologist interviews is that they tell it like it is without spin.
The latest interview won't inspire new investors nothing to do with Adam just the facts he's delivered.
Early stage CEO interviews provably means at least 3 months before anything concrete and that's if it all goes smoothly.
Am still on the sidelines after I exited last year and don't see any reason to rush back in, despite all the 'anything could happen at any time' analysis prevalent on here.

At the end of the day we've gone from 171m shares to 189m, with less than 1m warrants, not a huge dilution, and enough money to see us through project milestones (including Offtake financing) PLUS enough to conduct more drilling.
Perhaps even more importantly it's out of the way so negative expectancy has been shelved.

True JF clarification required. The other thing I wonder about is just how imminent news is? I mean two directors participated in the placing, insider trading and all that....

"I have spoken to #CMET CEO Michael Frayne.
He said they they didn’t plan for a fundraise so quickly after @TMSreach podcast BUT were approached from individuals who liked the story and wanted to get involved. "

https://twitter.com/DavidBurton1971/status/1491343004388724736

I see on twitter that MF has told someone that they hadn't intended a placing so quickly after the TMS podcast but they were approached by interested parties whose appetite was piqued after that podcast. (let's face it a lot of us had a our bullish consensus reconfirmed after that interview)
I'm having difficulty believing it though given the way this placing was conducted. Oh course right now this is all hearsay and MF needs to get on a TMS podcast to clarify.
Sarah Lowther has gone on record in a tweet today saying she's not happy, not overly surprised with her reaction given (on first sight) how TMS appear to have been used by MF.
MF needs to come clean quickly otherwise distrust will fester...

At least some of these proceeds will go towards more drilling...

"...With the completion of the Development Study due this quarter and further drilling planned as a result of this fundraising, we believe it is a very exciting time for the Company."

Placing oversubscribed, good reaction.