Member Info for PaulFG

agreed Craig - one would HOPE that they have more or less negotiated offtake agreements, subject to EIA, ML etc. SO I would hope the EIA approval would open the floodgates to good newsflow.

BUT when, when, when...lol

It is important to recognise that many YOUTUBE-type commentators like Alan Green are not impartial here - they hold shares and I think he also handles PR, and most likely paid by ECR - please correct me if I'm wrong.
Therefore nice to hear their optimistic views but be aware they are BIASED.

CURRENTLY:
2nd dose administered
10,814,200 (50.3%)

1st dose administered
13,649,253 (63.4%)

Total population
21,513,990

And Given the Population Demographics (2019):
0–14 years 25.24% (2019)
15–64 years 66.92% (2019)
65 and over 7.84% (2019)

I would say if they can make that final push for first dose from 63% to 75% the country should be in a pretty good state to resume some sort of normality.

Interesting co
tweet from CEO of TMS https://twitter.com/DavidBurton1971/status/1438513926115770377

The Company said on @TMSreach
Podcast at the end of July, that “EIA should Be within a month” so we are a few weeks over…

…any further delays the company would have had to report it. Just sit tight unless you bought #CMET on a t20 .

At least SRI Lanka continues to make progress on Vaccination program:

2nd dose administered
10,747,236 (50.0%)

1st dose administered
13,602,365 (63.2%)

no disagreement LW.
Whomever is in charge of Communications at CMET needs a nudge.

So the TEch Mgr first tranche of incentives kicks in after 3 months - that's it, that's the whole reason he gets it, because he remained 3 months. What I want to know is what has he done in that 3 months, all progress at this stage is meaningful.

I hear what you're saying DRJJ. What I have found over the years working on projects in different cultures (more so than language issues) hiring a local consultant that knows how to navigate those waters and talk that talk is worth his/her weight in GOLD. I would have hoped the folks in Damsila Sands Exports would have been more useful here, but perhaps they're not at the level as government/bureaucratic contacts.
Anyway, I don't disagree with anything you're saying and hopefully we'll see something soon, if not on EIA then at least some drilling news. After all if the company is so convinced on the EIA then they shouldn't be holding back moving forward with drilling. Is that logical?
My other slight concern was around those minutes from the Cabinet meeting and the establishment of this 'natural resource' type committee - I'm hoping this extra layer of bureaucracy will aid rather than delay progress. But...

I suspect you are already starting to liquidate?

Unfortunately, if this drip drip selling continues I can see the bid backing off. I don't understand why the Company isn't issuing an update, the last one was quite some time ago.
I suspect, as DRJJ has also stated, that the silence may be a result of thinking that the EIA is imminent, but it's going to start impacting SP and mindset...
We already saw some speculation here yesterday that perhaps there are darker powerful forces at work against the project behind the scenes - the longer the silence continues the more likely we are to see these theories (regardless how unfounded they may be) start to impact the SP.
Also it's nearly one month since we engaged the Technical Manager, it would be good to hear what he has done about setting about resource expansion.
I mean hearing anything from the company would be something at this stage.

extract:
03. Preparation of a mechanism for utilization of minerals not being utilized although already
recognized.

The minerals with an economic value amongst those existing within this country and been
identified already have been categorized under 04 groups.

• Energy minerals

Minerals within the category of Ferus and Ferro Alloy family

Non-Ferus minerals

Minerals coming under the category of non-metal minerals

Among these, the two companies ie, Lanka Mineral Sand Limited and Kahatagaha Graphite
Lanka Limited already excavate, refine and export the minerals namely Ilmenite, Zircon, Rutile
and Graphite while National Gem and Jewellery Authority and Gem and Jewellery Research
Centre are engaged in gem and jewellery related activities. Apart from those minerals, it has
been observed that the government mediation for the utilization of other minerals been
identified is insufficient. Therefore, the Cabinet of Ministers approved the proposal submitted
by the Minister of Industries to appoint a Committee comprised of eminencies in the field for
carrying out a detailed research / study on the areas where these minerals are located, the extent
of those minerals, the quantities of those deposits and the products in which those minerals can
be utilized in order to plan a programme to utilize such minerals formally in economic purposes
and to implement the relevant programme in accordance with the recommendations of the said
committee.

https://www.dgi.gov.lk/news/cabinet-decisions

point 3 deals with a government initiative : PREPARATION OF A MECHANISM FOR THE ULTILIZATION OF MINERALS NOT BEING UTILIZED ALTHOUGH ALREADY RECOGNIZED

Published today.

worrying thoughts, although the share price action wouldn't indicate that the market is concerned about it and the company has been there for five years so I assume they have their bases covered.

Although the Health Ministry issued a 'we've still got a way to go' note this morning, things seem to be improving.

The 7 day avg of new cases at the end of August was around 6,000 it's now around 2,500
7 day avg deaths at end of August around 200, not around 150 (still awful but definitely improving)

They have just under 50% of population fully vaccinated and about 63% with one dose.

https://www.bing.com/search?q=Coronavirus+statistics&FORM=covwpt&tf=U2VydmljZT1HZW5lcmljQW5zd2VycyBTY2VuYXJpbz1Db3JvbmFWaXJ1c01MIFBvc2l0aW9uPVRPUCBSYW5raW5nRGF0YT1UcnVlIEZvcmNlUGxhY2U9VHJ1ZSBQYWlycz1pbnRlbnQ6Q2hlY2tDb3JvbmFTdGF0cztjb3VudHJ5Y29kZTpMS0E7YWJvdmVuZXdzOnRydWU7IHw%3d&hs=TE2bqGIg5aT%2blU1kfgCc7xJq2H6FnO3%2fghOmNPYXwCM%3d

All moving reasonably well in the right direction. Hopefully we'll see a knock on effect soon.

there are more than enough people on here seeing silver linings everywhere and on everything. By profession I've been trained to examine all sides of the coin - that's what investing is about, looking at it all and then making the decision. And that's what the market does in assigning valuations - ye may not like it but that is reality.
I've always said this game is about probability and geology. The geology cannot be changed but I do think CB is raising the probability, of discovery, with all this activity. CB has laid out his reasons for the property purchase and that's fine, his decision to make. ECR then has to go on with the consequences of that decision - good and bad. two operational bases will cost money, the second rig arriving later this year will involve more costs - employing an extra crew to operate it. This all depletes available funds to discover and define a JORC defined resource.
But yes the probability rises with this activity.

I agree with LW the most positive thing out of this interview was the confirmation that by early next year (or end of this one) they will be drilling at Blue Moon.

And today the market has decreased the MCAP. Someday it may rerate it might even settle above 2p, one day. I too am optimistic about the prospects, but not blinkered and willing to listen to all views, Though I rate some contributors higher than others and not only those that are aligned with mine.
I certainly have no time for contributors that attempt to shut down discussion.

LOL
Very Mature guys. 'If you don't conform to our view please don't post or invest in the company. ]

If the CEO wasn't bullish on the SP he shouldn't be the CEO. Don't know why everyone is so upbeat about this?
Fact is company is valued where it is. If the CEO wants triple the valuation he has to deliver what the market wants to assign that value to it.

Hi TS, yes I agree but 8-10 months!!
They will have to start thinking about a placing/raise reasonably soon and their tactics. So this now means that they can no longer keep chirping on and on about £5m in the bank - it removes one of those key bullet points for investors.
Yes I know it was eventually going to happen but I was hoping for better news in the interim with respect to resource. We haven't had that. If you want this above 2p, sustainably, and even further above it in order to generate a meaningful raise then you need to attract new money. New money comes in on facts, not smoke and mirrors (that money is already here). That's what concerns me.
Maybe I'm just being overly cautious, but market reaction to this announcement has all but been a gentle eyebrow raise.

So with these recent land purchases and one has to assume there will be further costs - construction whatever - coming up now. I'm wondering just how long we're actually 'fully funded' for now? I'm not talking about mine construction, we're so far a away from that still, regardless of what some commentators may say, but I assume there are some immediate plans to put something on these land banks.
I mean he didn't just buy 297 acres to yet again have the chance to mention proximity to Fosterville, did he?
Monies rapidly being spent and we DO NOT yet have a JORC defined resource.

I agree, overcoming the EIA hurdle is greater than that standalone action. It signals with, almost, certainty CMET being granted the ML and I'm pretty sure we will see a very juicy offtake agreement, almost immediately, with the financing for the mine construction all sorted.
In effect the EIA hurdle launches the company so close to production you'd hope the resource is upgraded rapidly before we run out of product to sell.
OKAY OKAY a little more optimism to end the week...

HI DRJJ
Not in Telegram group, so many thanks for posting here, much appreciated.
I fully concur with what you say about MF, his CV backs this up. And I also agree with your conclusions that they are probably expecting the approval at any moment.
It's just frustrating we've all been sitting around here for so long, although probably not that long it only feels that way. I think you and I and a few others really see the potential and the opportunity here way beyond a short term trading opp. I really want the company to start that journey.