We would love to hear your thoughts about our site and services, please take our survey here.
If there was real appetite from both of these companies I'm wondering if we could even see a scenario where they bid for the company itself - Sheffield already snapping up 10%. That would mean getting the LTH big aussie whales onboard and I can't see them letting their stakes go for anything near the current MCAP.
What would have helped the valuation, in that scenario, would be have been more exploration and a much expanded resource - which is what I've been harping on about since the beginning of time, it feels like.
More money, now, in the bank -what are they doing with these funds apart from increasing headcount and overheads?
60 day potential countdown, at least until exclusivity expires (not totally sure how much of an impact that'll have)
OKAY PREMIUM raise is always good, not sure I'm too keen with their option for more below 5p - if things move forward well in the next 12 months that should end up be a significant DISCOUNT.
This will catch everyone's eye:
"Capital Metals has conditionally granted Sheffield the right to acquire up to a 50% interest in the Project in consideration for Sheffield contributing development capital by way of joint venture equity ("Project Funding"). The maximum final Project Funding amount will be negotiated during the due diligence period based on the agreed forecast to production, and will comprise two stages:
(i) an amount of funding to be provided at the Project level which is sufficient to reach a Final Investment Decision; and
(ii) the balance of funding to be contributed at the project level to support the Project into production."
Will be interesting to see what, if any, LB's reaction will be.
Look at the end of the day HAA has had to contend with major geopolitical/societal risks way beyond his control over the last decade or so. I have to give credit to the guy's tenacity to
A. Keep this company solvent and afloat
B. Bring us to a position whereby laws have been changed and a complex financing arrangement looks as though it's about to be activated.
I mean credit where credit is due.
I know people were p'ed off with the latest funding but if it was a choice between that or the company going into liquidation because it could not meet its financial obligations as they fell due, then people should get over it.
@roger - it's a good point it's not a huge amount of money at the end of the day. The grant, if it comes, is unlikely to be doled out in one lumpsum (see BRES they receive their $5m in $1m instalments as milestones are met). So OF needs to take maximum advantage of these funds as inevitably (and possibly within 6-8months we're looking at another raise) to add value to the SP.
The good news on the drilling side is they pretty much know where they want to drill on both Pilot Mountain and Garfleld (bullseye identified).
Don't forget we'll also get a small cash injection from Warrant exercise shortly. In the interim yes I can also see a share price drift but hopefully not below 10p.
So guys, as any LTH here will tell you, you just gotta have patience with CMET nothing happens quickly. Despite all the presentations and apparent 18 months/ 12 months to production projections...
Oh, and we've been lower, a lot lower...