Member Info for PaulFG

Yeah I have to say this is a little worrying.

I've had my finger over the buy button for a while but glad I haven't pulled the trigger to topup

I think everyone knows you can't have a binding MOU at this stage, no need to state the obvious.

True - perhaps short term opportunity costs elsewhere also contributing to this - not exactly huge volumes going through.

LW as to the Q1 2025 - Mike was pretty clear it MAY slip into 2025 because he wants to include the downstream processing angle into the DFS now, which it wasn't originally - perfectly acceptable I think.

@Pompey - I'm not surprised by options they had to provide to meaningful giveaway to entice the hire.

You also raise an excellent point - mineral sands ain't that special - in abundant supply globally, big big mineral sands companies like Rio & Kenmare. The deposit has good grades but it's very small compared to many mineral sands deposits and doesn't stand against deposits like SVML's with that largest rutile deposit in the world.

Still the project has legs, why I invested years ago. But when I project is dogged by so many issues sentiment is eroded especially over so many years. Not saying they can't turn that around but it's with hard facts and deals no more BS like we've been approached by.../are in talks with.../have rec'd interest from...

By the sounds of the last podcast Greg finally gets that.

not sure what the salary is of the new COO but Greg is on $180k so thinking it's at least that. Also a lot of staff not in SL itself, costs at least £220k pa to maintain the AIM listing. SO OK $2.8m in bank, but that will go quicker than people wanna think.

I'm keeping a close eye, but not willing to buy back in on the basis of 'surely it can't go any lower'. It has done so in the past... Give me facts, show don't tell...then ...

LW reply to your comment on BRES here rather than CMET BB.

Personally , I'm not sweating this one. Mike hasn't done anything that's chipping at my confidence in his ability to at least close out the DFS. BRES just continues to provide opportunities to top up, fine, strategic investors queuing up, institutions expressing interest to finance the whole thing (right?), an extra $5m is not big deal for them to raise one way or other.

I have more faith here than elsewhere. AM chilled.

Well guys we all have our strategies, which is great - that's what makes a market.

As I've had a phased exit here over the last year above the 5p, until my final sell-off above 2p this week, I've managed to double most of those funds (pre this week) in the interim so for me it was the right decision.

Sentiment is key and I think the market IS saying, show me don't tell me.

I would be interested to see financing options and costs - SL represents significant jurisdictional risk to financiers, but if the sector as a whole is staging a comeback that may not be a huge issue.

There is potential here ( as always) but you cannot easily dispose of baggage and experience - nor should you I think - costly lessons learned should remain learned.

I think @withoutaclue has it. In order for the share price to ascend you need to attract new buyers/ex-shareholders like me to return in greater volume than those looking to exit.

Those of us that were in this for years and heard it all before - admittedly there are some hopefully easy wins in coming months - potential drill results up to 6 months away (hopefully shorter) will be interesting, but they're almost fully expected to be so by everyone at this stage.

The financing plan to production and its execution is what the market needs - otherwise it's just more blah blah blah. That's what I'm looking for, don't mind paying higher, but right now for me it's the opportunity cost of letting funds languish here vs the opportunity cost of actually profiting from some other situations I think stand a better chance in the next 6 months - that's the way the market thinks and behaves.

I thought Mike stated they will complete the prospectus when they need to and they don't want to issue more shares at this level - so I assumed it would not be announced until the share price reflected whatever the level was that satisfied Mike.

Okay I think Greg performed much better here than in other recent interviews, so that's the positive for me.

But I'm not yet prepared to jump back in as there are still some things that require resolving:

- Drill results expected 3-6 months after they reach the lab in South Africa, given they still haven't received the final permission yet to commence drilling that could be up to 8 months away.

- Financing options, they won't have a clear idea for about 3 months as to which financing option they wanna pursue, then I don't know how long it'll take to actually conclude those negotiations/agreements.

- Production decision H1 2025, then construction and finally hopefully into production H1 2026 - all things going well...

But better performance for sure, but I need far more clarification before I'd jump back in, given the history here

Okay, so if they go it alone, and everything goes well, expected production H1 2026.

Would also like to hear where Greg intends to send the sample for testing - last time they used GSMB, literally years ago, and I think we're still waiting on component analysis. Although Australian labs are quite some distance it might ultimately be worth sending the samples there for analysis.

Good appointment - I mean the fact that they've made one, great. Now let's see what the chap does. He has some easy wins if he hits the ground running.

Yup, LW, approx 17 mins in, you heard in 9-12 months $5-$10m equity required to bridge the financing gap!

Fair enough, let's see how the next 9 months unfold.

If they do make a quality appointment, drill results return a substantial upgrade [odds on for that one], and most importantly get a concrete financing deal in place then I may even buy back in. Most probably above these levels but that'll be fine to wait until things are signed.

Airborne I'll post when and where I wish.

I sold out the last of my holding above 2p...oh so long ago. Amd the market continues to sell this down. What does that tell you?

Please feel to constructively argue my points but don't descend to the childish level of some posters on here.

Just listened to latest Crux interview as of 2hrs ago.

I remain unimpressed, doubtless people here will be over the moon the way they are with everything.

All I heard were more and more options but no details on an actual plan. Even the interviewer sounded frustrated.

We're going it alone but will still talk to partner if it's a right deal...

Drilling Budget under $200k and admission they're probably not going to double resource. Which means the resource remains quite small.

Sounds like right now no plan on financing either: we'll discuss it with new hires over next 6 weeks/2 months.

More equity dilution in 9/12 months

Couldn't agree more LW. Have had years and years of vague statements and even statements with meat on the bones that came to naught.

I think the only way I'd reenter would be on the publication of an RNS saying deal done signed and delivered.

I do think they'll turn it around but whether they will prior to another necessary raise and further dilution I'm doubtful.

I like this RNS to determine what future Tungsten demand may look like under a Nuclear Fusion regime.

If I recall correctly, OF has previously indicated that each new fusion reactor would require around 5k mt of Tungsten - but quantifying that with a reputable outfit will lend serious credence to future supply issues.

I think the minimum annual cost of maintaining the AIM listing is £220k, so honestly if CGNR mgt are not working flat out on something I don't know how the company will continue to the end of the year.