Member Info for PaulFG

Todays RNS is great news for Garfield and the depths of 150m & 200m don't seem that deep at all - I think Pilot Mountain starts at 300m (?)

Quite the wallop of churn in ownership today. Positions being taken...

Perhaps there'll be another 'strategic' investment closer to an offtake agreement ...

@DVH agreed, still a gamble given the history here (much of which was beyond KEFI's control, but HAA's rep, deservedly or otherwise, with the retail community has been damaged). I have a feeling forgiveness will be delivered quickly though and memories wiped once financing is in place.

H2 2024 looks exciting...

Expect 4p holders may well be taking some profits here - good that new longs are able to enter. I have to say I looked at this last night, the MCAP rather than the SP and decided to take a decent topup chunk today even if I had to pay above 6p, the potential is too great here and momentum will get this noticed if nothing else.

So BRES is one of the few stocks where I've actually averaged-up, even if it drops back I'll use it as another opp to topup - nearly into H2 2024.

@airborne (r u from Eastbourne btw?) but as many brokers have replied to me in the past when I ask why a certain commodity price is moving up: "more buyers than seller"

That's what we need here, but actually we need more 'new' buyers to get traction.

Hopefully, it will happen as the story get's out.

@Andoman yes you're correct there is currently a world war raging for critical metals with the west finally waking up to the fact that China has been buying up everything globally and should CHina continue to impose export restrictions on more metals the West is very vulernable - you can see retaliatory action coming - already the USA has imposed Chinese import bans from 2026 (?) on tungsten for military use.

re funding to production is we probably have secured that, BUT the value-added is the funding that would have come after that with the actual separation of the various products within the mineral sands (the proposed development at Oluvil Port would have done that - but Greg seems to have put a whole question mark over the use of that port now.

Also I think SL has stated that it wants to see those processes conducted incountry in the future - so we will have to deal with that at some stage.

Look it's good news, for the sake of clarity, not done yet though and I think the economics all have to be revisited now in light of the available funding. Hopefully, we might see further news re offtake which will further remove uncertainty.

XEL: LB offtake - yes that's good to see, afterall CMET still need to sell their 50% share of production

Yes that's what I mean - have far down the development road are we now going on a fully-funded basis. Last year we saw they were pushing for the full development with LB, giving up a lot to get it - clearly wasn't palatable.

SO now what are the terms for this proposal - I agree it's unlikely to be the $81m as I just don't think Sheff can afford to do that - so now we're giving up 50% to go how far down that road?

I don't want to prejudge until we know the exact details but obviously as dose of commercial realism has hit CMET board since the MF days .

Look I don't think this is bad news, I just don't know how good it is...Happy though at least we have an RNS and clarification.

So at least we seem to have a preferred partner - but will have to wait until end of May before concluded - hopefully it will be.

Am more comfortable with a non-Chinese partner if I'm honest looking at the geopolitical situation and possible future scenarios. My niggling concern is whether or how Sheffield has the ability/going to raise the funds to make this happen - £81m is a serious chunk of changed for them - so I'm interested to see the final terms and if in fact it goes as far as we've been previously told.

SO I'm tentatively happy, but we're still not done.

At least we're in another exclusive period...

LW, yes I know, but I see DFS as a major derisking value adding event.

I usually take these price projections and divide in half as a rule of thumb as a price objective.

10,000 metre drilling program, results in next few months....nice

@Pedro I agree, but I can handle dilution if it moves the value proposition forward, by saying a deep drilling programme at Clontibret, but if they're just raising to keep the lights on and pay admin expenses whilst they search for a possible other strategic partner then I've no interest in remaining involved until that announcement is made.

@bonkers - you're absolutely correct it's the deadline of the 60 day exclusivity agreement ONLY.

hmmm, have I mentioned that before? lol

But it's obviously the date they've been working towards, for me if the agreement isn't actually concluded for a another few weeks thereafter it's no big deal, but if they don't meet the deadline - for the sake of other holders pinning all their hopes on that deadline, I hope the company will issue some sort of clarifying RNS, unless they envisage concluding the agreement in short order.

If funds are limited inhouse, which they obviously are, and you want advance your major asset and 'bring in a mine' then WHY divert funds and attention to base metals? Why not apply does limited funds to a deep drill to establish whether or not Clontibret is actually anything like Fosterville, which they go on and on about?

Why develop a new narrative to distract the main objective to bring in a gold mine?

Fingers crossed - anticipation building, fantastic if they can meet the May 15th deadline.

Fairview, fair points, so then it leads me to believe that CGNR should improve negotiation points to ensure that more meaningful activities are included in the agreement, such as deeper drilling. They've been on site for decades they know what they need to get done.

I think I'm just becoming very frustrated with these meaningless record on repeat interviews.

Obviously, the Conroy guys read the threads here. They admit in today's podcast the Fosterville geology changed at 800 metres, they've only drilled to 300 meters in Ireland - it's obvious they have to drill deeper - even they've now admitted it.

WHY ON EARTH haven't they done it???

I don't understand why these guys think spending money on these podcasts same the thing over and over will change things. Drill deep guys, enough 'it could be...' , 'should be...', 'ought to be...' dreams, drill deep!

https://www.youtube.com/watch?v=HCyTTTl_Upk&t=1139s

Funny I think of 6p as paying up, only because we're not used to see that number. but the mcap is still very insignificant when you consider what they're about to deliver by Q1 2025