Member Info for PaulFG

@color did you attach a 'read notification' to it?
I know he rec'd and opened my email.

@LW looking at the sand blockage I don't know how any vessel can traverse it. It's a ruddy BEACH.

@ Colorblind - DONE

here is the photo from Aug 2016: https://apps.sentinel-hub.com/sentinel-playground/?source=S2L2A&lat=7.275122056983865&lng=81.86689853668213&zoom=16&preset=1_TRUE_COLOR&layers=B01,B02,B03&maxcc=100&gain=1.0&gamma=1.0&time=2017-02-01%7C2017-08-16&atmFilter=&showDates=false

This is far more comparable to the one in the corporate presentation. This photo was taken about the time they may have started the work privately in Sri Lanka and could have been the one they used to attract the large original private investors.

At best it could be viewed as an oversight not have updated this photo FIVE years later, at worst....well a lot worse.

My hope is that CMET and specifically the CEO MF must be aware of the current situation and is not himself operating under the delusions of the state of Oluvil Harbour currently.

So here's the thing, using the website my_opinion posted below I've examined the state of the port in early January 2021 (https://apps.sentinel-hub.com/sentinel-playground/?source=S2L2A&lat=7.275122056983865&lng=81.86689853668213&zoom=16&preset=1_TRUE_COLOR&layers=B01,B02,B03&maxcc=100&gain=1.0&gamma=1.0&time=2020-07-01%7C2021-01-07&atmFilter=&showDates=false ) , the month that CMET have on their corporate presentation and the photos are materially different to each other.

CMET have clearly made out that the port is easily accessible to where they intend to build their Separation Plant but the satellite image from January is largely the same as today showing the entire port is blocked and inaccessible.

IF this represents the facts it is so materially different it could be viewed as fraudulent.
I have emailed Michael Frayne for an explanation, he has opened and read the email in Perth, but as yet has not replied.

I like the possibility to monetise it approach, my_opinion. lol

crikey, complete mess.

Clearly one of M's objectives for October is to give CMET a higher investor profile - probably as we draw closer to a possible production date next year - evidenced by CMET tweet activity, attending the 1.2.1 Mining Investment conference and yet again being brave enough to face Sarah Lowther at TMS. In fairness each time MF does one of these podcasts my confidence is boosted.
With that in mind I hope the Company is currently updating the investor presentation to reflect the impact COVID has had on timelines, finances, licence applications and indeed licence renewals, drilling etc etc
The current presentation is pretty outstanding https://capitalmetals.com/wp-content/uploads/2021/01/Capital-Metals-Corporate-Presentation-Jan-2021.pdf but as reflected with posts here it could do with an overall to answer many questions.

It's rather laughable you're all still on this thread trying to convince yourselves, it's as good if the SP declines as it is when it increases...meanwhile the bid has backed off yet again!

The lack of appreciation of basic mine economics is outstanding...statements like if they need money they can raise a mortgage, on our way to self-funding....lol
Do you guys have any idea how much it costs to construct and underground mine? Anywhere from $500m-$1bn, try raising that on a mortgage!
But by all means continue with the passive and not so passive aggressive insults, it says much more about you than even your lack of knowledge around basic finance.

Oluvil Harbour seems to be recognised as one of Sri Lanka 's white elephant projects. An immediate way to remove it from the list would be to make it a functional thriving enterprise benefitting both the local community and the nation.
Dredging it and constructing the mineral separation plant would achieve this. Surely this is a major step for the ESG program.

Hopefully it is as simple as dredging. Fact that the port hasn't been usable since it's been constructed is a bit worrying though. If I'm reading that article correctly.

I've submitted all the questions to Sarah Lowther at Total Market Solutions ahead of her podcast with Frayne. Hopefully, she'll use her judgement and tackle him.

Agreed LW. CMET is almost trivialising a problem the Sri Lankan authorities have been unable to solve since 2013. It's very worrying what is plan B?
Then again the Chinese and Indians have been vying with each other to revamp Colombo port with the Indians winning with $700m investment. Perhaps they could find some Chinese appetite to invest in Oluvil?
But it's very worrying

Just read this article https://www.themorning.lk/oluvil-harbour-billions-buried-under-the-sands-of-time/ posted by DRJJ on another thread. Quite worrying the the port is unusable and since 2013 there's been no solution implemented.

SO perhaps another question Sarah might pose to Frayne would be if the Oluvil Harbour is not made ready to export CMET's products what alternatives is CMET examining and indeed given they had planned to construct the Mineral Separation Plant at the Harbour what would Plan B look like?

Crikkey, what a mess and not a terribly comfortable read.

Loch thanks for at least not suggesting I must be having some sort of mental breakdown for temporarily moving on...lol

https://twitter.com/MetalsCapital/status/1445374470110203906
"We are looking forward to attending the
@Investinmining
Online Americas meeting on 13-15 #October

If you would also like to join #CMET or to apply for a free investor pass – please click here: http://hubs.la/H0YPr0v0"

More and more ...here we go.... our patience is finally being rewarded

Given the RNS said: "... the auger drilling programme at its southern exploration license EL199 has commenced." I expect they probably started work yesterday in which case we can expect newsflow anytime after October 25th, minimum.

OCTOBER is shaping up to be a pretty pivotal month of news for CMET with the possibility of the EIA perhaps to coincide with the proposed TMS podcast....

100% agree, LW.

Great to have you back.

HI BCB,
I believe the upcoming assay results will add to the geologists understanding of the structures (which may lead to a future resource declaration) but I don't believe they'll add anything to market perception (going on past results) given the manner in which the holes have been drilled.

I would also add a word of warning around the DUAL LISTING hint that CB gave in the last podcast - it would also prove the ideal opportunity to sneak in another placing.
Anyway guys good luck to current holders. When things are made clearer I may buy back in, but there are better risk reward opportunities right now, for me.