Member Info for PaulFG

Tungsten could soon be used in the manufacture of solar cells.

https://www.pv-magazine.com/2024/08/26/stanford-scientists-design-dichalcogenide-solar-cells-based-on-tungsten-diselenide/

Https://www.jurist.org/news/2024/08/un-warns-of-threat-to-basic-freedoms-in-sri-lanka-amid-upcoming-election/

The Office of the United Nations High Commissioner for Human Rights (OHCHR) published a comprehensive report on the growing human rights concerns and erosion of democratic principles under Sri Lanka’s legislative system. This is primarily because laws and bills introduced since 2023 have given “broad powers to the security forces” and expanded “restrictions on freedom of expression and opinion and association.” If broad powers are misused, then this could jeopardize the rule of law and fundamental freedoms.

Just out: https://www.ft.com/content/9a91b649-a701-4cc0-a0c0-3ab0b7be214d

Jay Powell says ‘time has come’ for US interest rate cuts

This will be supportive of Gold price and price rise, further enhancing the economics here.

Maybe some early signs of a mood change here - but also in the wider sector that we're also benefitting from as an excellent company.

You can actually sell volume above the 'official' bid, good sign, autumn buyers returning perhaps - or maybe even LW with a change of heart? (lol)

Also helps that the world finally sees that China has weaponised the entire commodity complex (like over the last decade!) highlighted with its recent export ban on Antimony.

As with you guys I bought in, oh so long ago for the IOCG potential, not a lot as it was still very risky but enough to keep it on my radar.

However, in 2024 and since the potential of the REE has been raised, and the confidence provided by the amount of insider expert buying, I have certainly moved my investment northwards to where it's now one of my top 5 investments.

REE is not liked at the moment, China has flooded the market to destroy western REE mining/production. As R.Rule says when something is hated that's the time to buy - obviously the whole ISR thing is the game changer here that almost lifts Chinese market manipulation out of the equation.

Very interested to see the upcoming test results.

Headline is tongue-in-cheek, before y'all hop on it.

I guess this RNS is more geared towards GEO-types & metres-drilled types (ok latter would include me).

But they're really just teasing us until we start getting assays back, can't be long now. Can it?

What is the mineralisation composed of?

I mean when CNBC are talking about this stuff...

Https://www.cnbc.com/2024/08/21/chinas-antimony-export-controls-rattle-the-tungsten-industry.html

I think it may have been to do with a post on X from GMET, quoting CNBC report:https://www.cnbc.com/2024/08/21/chinas-antimony-export-controls-rattle-the-tungsten-industry.htmlChina will put export controls on tungsten by the end of the year, if not in the next month or two, Christopher Ecclestone, principal and mining strategist at Hallgarten & Company, predicted.

Let's see the next set of results - hopefully they'll tell the future story.

It's true though, what DVH states, bizarrely retail investors do feel more comfortable paying a higher price. It's almost less to do with the derisking and more aligned to FOMO.

Excellent RNS - I know some will want to wait until the Sept announcements but honestly it feels like operations have commenced...PLUS:

"At the current all-time high gold price of US$2,500 per ounce, the first full year net cash flow from Tulu Kapi operations is estimated at US$196 million (£154 million), which is estimated as being more than sufficient to then be able to prepay all debt. This is based on the 'bankable plans for the open pit with the plant to run at designed nameplate processing capacity."

I expect the 17p warrants will now continue to be exercised - hopefully some will be sold into the market to provide extra liquidity.

Was listening to a podcast from VRIC over the weekend with the usual panel of experts (experienced investors) and they made the point that big systems generally have big surprises. Immediately thought of the opinion of the Porphyry expert GMET recently employed and OF's thoughts that the system may be much bigger than they originally thought.

https://www.youtube.com/watch?v=fJU6OOj53CY

Just listened to latest Stockbox interview on the raise yesterday, OF indicated with so much money in the bank (£4m) he thinks they're funded for the next 2yrs at least - on current spend levels. Pretty good.

https://www.youtube.com/watch?v=vPstk3gAZQs

Antimony prices gear up for new records on China export curbs

https://www.reuters.com/markets/commodities/antimony-prices-gear-up-new-records-china-export-curbs-2024-08-15/

"Another upsurge in antimony prices will reinforce the western world's reliance on China for critical minerals, which also include rare earths, gallium and germanium, exports of which are also restricted since last year."

With China being the world's leading producer of graphite, accounting for over 60% of flake graphite and nearly 80% of synthetic graphite production globally, also refining more than 90% of the world's graphite, you'd wonder when we'll get the Graphite headline now they have the control mechanism in place from last year.

XEL not suggesting anything just seeing what's happening - we all draw our own conclusions (that's what makes a market). You have to decide for yourself, but in the very shady world or SL politics I would suggest nothing is straightforward.

I wouldn't suspect the company's RNS is inaccurate or misleading, but there are requests and there are REQUESTS!

Within this article: https://island.lk/election-law-violation-complaints-gathering-steam/

"According to People’s Action for Free and Fair Elections (PAFFREL), 99 percent of these complaints involve the misuse of state power and resources. Rohana Hettiarachchi, Executive Director of PAFFREL, revealed that the government was in the process of recruiting 150 labourers to Lanka Mineral Sands in Pulmoddai."

@Irish I think you've summarised it very well

- fantastic grades compared to many/most mineral sands projects globally,

- but resource (currently, and even when doubled) is very small compared to the type of projects that Rio/Kenmare etc. would be interested in, (not to say it can't be very profitable if they get it right)

- jurisdictional risk has proven to be off the charts here,

- the one-project-company has also proven to be fatal to the SP,

- plus at this stage I'd raise the question of management (I've all but given up on Greg, but am watching closely to see how the new COO works out)

On yesterday's announcement, I cannot fathom why they agreed to delay the drilling - given what the company has gone through the last few years, the decimation of the SP, and the whole debacle (almost mismanagement) of the JV negotiations (I don't think we'll ever know the real truth about what happened with LB Group), management know they have to deliver and deliver now.

Given all that why delay? As others have pointed out I've never heard of this anywhere else (another SL quirk?) and yet I see the government has stated (just days ago) it's recruiting 150 extra staff into the state mineral sands company. Was this actually a request or a demand?

Given what we went through over the last few years I suspect there's more behind this request, it's just so bizarre.

@Irish fair enough. But CMET has never issued results/indications on that basis previously and i wouldn't expect them to this time neither. I certainly wouldn't trade on such unverified analysis

LW, I don't know where you got that there are onsite analysis machines from? Ok I may have missed it but I haven't heard anyone mention that at all - where exactly are you generating that comment from?

Anyone who trades on anything but officially signed-off lab results is rather foolish IMHO, and goodness there have been scandals even with those being doctored. That said, I'd be surprised if they didn't encounter more sands obvs, but I'd be looking carefully for composition - the more Rutile the better.

By Gregs own admission he has very little experience, if any, with mineral sands so I'd take whatever he's said on visible results with a pinch of salt. I think there are more people on this board, or were here that know more than he does.