Member Info for PaulFG

Ok I was head scratching yesterday but this explains the selling. I'd have preferred to have them announced a placing rather than a proposed placing. It will be interesting to see how much is taken up and how quickly. Also disappointed to see its not underwritten.
However, it's a small dilution, small discount, and I don't see any warrants attached (or have I missed that? )

"The Company is undertaking the Placing to progress its corporate and operational strategy and the net proceeds will therefore be applied towards:

· Drilling and subsequent Resource update

· Engineering studies and long lead item deposits

· Permitting, environmental and community programmes

· Offtake and financing costs

· Working Capital"

Rick Rule..." anytime sells overwhelm the buys 3 to 1 I would find something to buy the next day..."

Agreed H and length at this level will result in a huge dividend yield.

this is a one project company so would be very easy to offload the entire company, AT SOME STAGE. I would hope they'd add a lot more value to the project before they'd contemplate such a move though.

Never fear, there'll be lots of newspoints in coming months.

just to add to my previous post - people have to remember this is not a wildcat junior explorer here like many invest in the sector with the 'hopes' of a major gold/oil strike.
This is a company with a JORC defined resource, in tight global supply, with a rising commodity price and continued demand to the end of the decade. It is much easier to raise debt financing for this type of company and so returning to the equity markets to raise more capital through evermore placings is not the ONLY option here.

yes I've noticed people getting in a state about placings etc.

Fact is MF has said I don't know how many times he's looking at options like prepayment clauses in offtake agreements, once the IML is issued I don't think they'll have too much of a problem raise debt financing (especially with an offtake agreement in place).

I'm just not getting hot under the collar as many seem to be over this issue. The LT 'non-public' shareholders (including MF's wife) are not going to want to suffer any major share dilution from their already 6 year held investment.

yup, LW, totally agree...so much upside. Not that I want to jinx it but I think we're about to enter a period with sustainable upside for this share for years going forward.

I'm very excited to see the upcoming drill results which will give a good indication of what else is on offer within CMET's tenements. I totally agree wrt MF's confidence concerning offtake agreements - he's almost laughingly scoffed with confidence each time he's asked about it. And because of that I do expect to see some sort of serious funding option coming through with that announcement.

With the Development report and current mineral sands commodity prices I expect MH Ireland to issue an updated broker report that may kick of some non-retail investment which will consolidate once the IML is issued.

MF has actually stated the current resource is enough for offtakers

The other good point I extracted from yesterday's podcast was that most of the land impacted by the IML is owned by the government so they'll be dealing with the same parties that were involved with the EIA...hopefully saving some time in the approval process.

I agree MF could sound a bit more upbeat.
On drill results interesting to Groc sent their mineral sands to Brisbane months before cmet and I don't think they've announced yet. So if we're about to announce then that's pretty good by comparison.

I will have to listen again but when he was asked about financing he mentioned debt and forward payments i.e. prepayments on offtake agreements I don't think he mentioned share placing or equity

I expect the drill results, due Q1 2022, to at least confirm this.

Okay so we can see that commodity prices are S U B S T A N T I A L L Y higher than a year ago but according to the Jan presentation on slide 6 EXPLORATION UPDATE the resource only improves with drilling:
Mineralisation continues at depth
Drill intersections incl.
- 14m at 26.3% THM
- 8m at 26.6% THM

https://www.livewiremarkets.com/wires/booming-mineral-sands-prices-illustrate-shortage-of-everything-scenario-driving-commodity-prices

While it is not a big component of the mining market, the minerals sands sector stands as a prime example of where the producers have been hit by the shakedown in equity markets even though industry conditions are the best they have been for 10 years or more.

I mean it's phase 1 trials there are years and years of trials ahead.

Phase 1, years and years to go...

reading the past accounts I see that MF has made personal loans to the company previously, I'm not holding my breath but I'm not panicking neither.

true the developmental economics ae improving BUT they have to get this thing into production ASAP to take advantage

Enjoyed the tweet you quoted that indicates ilmenite is over $400pt
Good to have you back on firm DRJJ