Member Info for PaulFG

Important to remember the $81m injection, by way of equity, would not be in one go and I would expect the value of the company to accelerate rapidly as we progress so that the initial tranches would result in significantly more shares than the equivalent injections as the project progresses - I mean, you'd bleedin' hope so...so not quite as stark as the current figures would suggest.

The problem here is the resource is quite small. Which is why I've been going on for years about the need to expand it. If you want to get the big players like Rio or Kenmare interested you have to have much bigger resource. SO possible JV partners is limited simply because of the size, regardless of the quality,

Perhaps there has been a mad scramble but the large shareholders to maintain their % holdings in advance of dilution.

Drill and explore the licences - build up a bigger JORC and get us better options - my advice to CMET mgt. Titanium is now listed as a critical metal

No problem accessing, not sure it's worthwhile, thus far...

@hbomb - thanks for correcting me on the 180 days vs 18 months (I knew there was a 1 and an 8 in there, lol)

I pretty much expect Rio to make a bid for the entire project, but they'll wait until they've got definitive numbers from the DFS - hence I was trying to ascertain when that would be finalised and then we're into the 180 DAYS (haha) coutdown period.

Thanks Hbomb.

I remember looking at this thinking okay RIO have 18 months to exercise the operator option after DFS, but then thinking well I'm not expecting DFS until the end of 2024 - but I can't find the evidence for that thought.

Obvs it's totally undervalued right now, but then what ain't, its just a matter of how much time Rio have before they actually bid to take the whole asset - so right now I'm thinking they have about 2.5 year (???).

OF has been everywhere on every podcast in the last week or so and Sunday Roast was all over this yesterday - in practically everyone's top 3 picks for 2024 - remains to be seen.

I mean, it's basically equivalent to insider buying - that's how I look at it.

Zeppo if you were looking for a signal I think you got it. One group of large PIs were able to invest and another couple threw a tantrum because they weren't able to, but now they have, matching the previous investments - these guys don't kick up a fuss or invest voluntarily unless they KNOW this is as much of a sure thing as is possible. They've been here for much longer than Retail so you know they know more than we do.

Zeppo if you look back over previous CMET presentations you can see who the major shareholders are - large private Aussie investors for the most part that have funded the project prior to the public listing.

Morning guys - am I correct in thinking we're not expecting to see DFS until end of 2024?

I'd almost put money on it being extended again - but hopefully a shortish extension to indicate it's nearly there.

Yes. But given we're apparently on the verge of booking approx $10m on JV being formally agreed I don't think this was altogether necessary.

Agreed I don't see this as a particular drag on the SP beyond existing drags.

Two points to these 'offerings'

> Good, it shows the exists large PIs that've been involved since it was a private company now see this as such a given, they're stumping up cash where they were nowhere to be seen in the last horrible year

> Bonus to them to get in below market, thanks for not selling any of your huge holdings during our annus horribilis

Still would have preferred they weren't executed at a discount, and some of us retail also stuck with the company through many sleepless nights in the last year - no reward there, quelle surprise!

In a way yesterday's price action was pretty predictable - so many people were poised to sell on the announcement, which given the delay may even have resulted in some distressed selling.

For me this project now de-risked (as long as everything goes smoothly in Q1 2024) - we can move on and look at the rest of the portfolio - even better potential.

I would expect - maybe hoping - that we'll for a base and start to attract longer term investment from now on. Am interested to hear what the guys have to say on the call next week.

Energy is definitely a sector you wanna have exposure to in the next few years and this is a pretty good under-valued play right now - it's a question of whether it can start to gather continued recognition.

I know it's totally bizarre, 25p one moment and the next 18p!

I can't really get my head around the SP action since the RNS - seems very volatile and erratic.

Would be good to see some updated Broker reports as a result of this deal, will help with the bullish consensus.

@mozax tbh I started buying when it was 15p and buying all the way down to 5p, where I drew the line after the GSMB stole our IML.

Didn't buy any at 1p, just could not justify buying any more and I lost all faith in MF.

If this doubles I'm back in profit - put it that way.

But this is a LT buy n hold for me - looking to dividend yields - unless we get bought out...

Hopefully our collective nerves-of-steel will be rewarded - eitherway significant de-risking event.

@Polio no downside? HAHA I was saying that 3 years then all hell broke out in SL and then the fun 'n games with the GSMB..but fingers crossed...this time...