Member Info for PaulFG

Here are some extracts I posted on this board back in March '22, feels much further back, when WH Ireland (a time one of our brokers) published a note on the company:

... "We expect the resource to grow after recent drilling with value

appreciation as Capital goes through the stages into production. As a producer, we

would expect it to be valued on repeat business with a peer multiple value of ~$180m

(77p/sh). The Eastern Minerals Project will be a company-making asset."

--- "We see fair value in Capital at 33.3p/sh based on a simple DCF10 of the project risked at

inclusion of only 50% of the NAV for stage. The high-grade, low capital cost of the project

at only $40m (WHIe), sets Capital apart from some of its bigger peer projects, which

require several hundreds of millions of dollars. There is plenty of space for small, nimble

players in the mineral sands sector and no barriers to entry. We see the key risks lowered

following issue of the EIA (23.11.2021) with low ongoing risk from permitting and the

capital markets for access to capital (in common with all junior developers)."

"Capital stands out on many metrics: highest-grade resource, highest HMC and vValuable

Heavy Minerals (VHM) resource grades and high revenue per tonne. Eastern Minerals

Project is a small tonnage (at the moment) project which stands out against its peers and

which we expect to rerate as its key catalysts are achieved.

A recent IPO (dual list) in London of PYX Resources (AIM:PYX) with a market cap of £400m,

and which has small-scale, high-grade zircon production in Indonesia, points to the value

given for new producer entrants into the London mineral sands market (Table 2)." Page 8

I honestly don' think many people here, that showed up suddenly last week, will be here this time next year by when hopefully we'll be on the verge of production...as some of know we've thought about near-term production before and it all went *its-up.

BUT for those of us that will retain at least a core holding to production I urge you to think about the potential dividend return.

If you're buying in at these levels you could very well be looking at relatively huge yields

Loving the fundamentals here - resource, jurisdiction, geopolitical threats, non-dilutive funding, it's all lining up nicely.

Have finally started building a position after monitoring this for months. May it remain below 5p for a few more months.

Https://zakstraderscafe.com/interview-greg-martyr-executive-chairman-capital-metals/7884/

With Chairman of CMET:

> the decision has been written on the CMET appeal. Awaiting publication.

> Attorney General SL want this to go away - positive - next court hearing date Oct 20th. Should expect decision on statutory appeal before Oct 20th.

CMET probably going to drop some mining licence applications - keeping where they see best prospects

Want to reignite discussions with LB group (offtakers)

Draft agreement for port access - currently unsigned.

Once begin Construction can be in production within 12 months.

Court costs so far total £40k

Upside: NPV $155m base case = about 47p pshare

resource only calculated down to 3 meters, 14 metre drilling with results has not been included in jorc calc

Are we better off despite everything? - we're on everyone's radar...we probably have better relationships than 12 months ago

You have to understand something of the history of SL and specifically the Rajapraksa regime ( whom the current President worked for) to understand there is simply no embarrassment when it comes to corruption, christ the murderous regime was not embarrassed about anything. They do not hold themselves to any externaL standards or perceptions.

But we currently have an opening and I hope the cmet chairman is being proactive in exploiting it. Be prepared regardless, nothing happens quickly in SL.

Fintech there are some good presentations on the CMET website summarising the situation - they are not recent, but we all know what's happened recently.

One thing we should all be clear about - just about everyone in that government is corrupt and/or somehow connected to the previous regime, which still lurks in the background (and not very far in the background). Just because one guy has been removed doesn't mean his replacement isn't as/even more corrupt, it's simply a matter of whether CMET's interests can be accommodated in the interim.

My point is corruption is there and will continue it's how we're progressing despite that.

Not sure how much, if any, difference this will make at this stage. Maybe further down the road...

Let's see...

As I said....

Hot money comes quick and leaves quicker

No worries, if the licenses are reinstated this will have a sustained rerate.

Don't even get me started on the very sticky institutional shareholder base!

I think retail look at the market cap and think it's fully/over valued.

But they don't realise the amount of cash we have plus the financing facilities we've arranged that underpin that valuation.

Not to mention the sheer resource potential in our tenements.

"***High grade intersect of 182g/t Au over 0.69m at Nalunaq extends the Mountain Block high grade zone ahead of commencing trial mining in 2024***

***Discovery of new high-grade vein, 75m above the Main Vein, with highest ever grade intersect of 256 g/t Au over 0.5m, significantly increasing Nalunaq's resource potential ***"

Gosh, I know width isn't huge, but the way these guys plan to mine mean these grades are pretty great. If drilling season results continue like this across all our tenements this could be a bit of a sleeping giant....

SO much going for this outfit.

Well I hope you're correct Dibs, obviously. I have a pretty substantial holding here, like some others, in the millions so believe me I definitely want to the see the original business case that convinced me to invest come to fruition.

Good to hear from you Justone - finally some good feelings - but it does feel like very hot money - perhaps moving out of ORCA where you could have bagged in the last week. Not sure how much more we have here without concrete news about licenses - this RNS today referred to stuff that was in the market already. (Hence my hot money feeling)

Like yourself it has at least parred my unrealised losses - well done to Dibs piling in at 1.03p.

I don't expect news next week or anything like, just knowing what SL is like and Government bureaucrats, but let's see....right direction anyway.

Just to be clear, as there appear to be a lot of newcomers suddenly on here - we DO NOT have an offtake agreement, what we we have is a non-binding MOU that expires Dec 31st.

Sorry but market reaction from traders trading is hardly proof of anything - those of us that've been here years know the news we need - hot money comes quick and goes quicker.

Whilst I welcome the RNS - although not sure this is actually new news in SL - we still don't have our licence reinstated - could still be a while given SL bureaucracy and as you and I both know from bitter experience nothing is ever a given in SL.

Like you am holding a decent number here but not adding until concrete confirmation of reinstatement of licenses. Been there done that, burned enough.

Https://www.ft.lk/business/New-British-High-Commissioner-visits-BOI/34-753712

"New British High Commissioner to Sri Lanka Andrew Patrick yesterday met with the Board of Investment Chairman Dinesh Weerakkody, Ministry of Investment Promotion Secretary M.M. Nayeemudeen. and officials of both the BOI, Colombo Port City Economic Commission, CEB, GSMB and private sector representatives to discuss the current economic climate and investment opportunities in both Colombo Port City and on shore. UK High Commission Head of Trade Investment for Sri Lanka and Maldives Michael Fernandopulle also participated in the discussions."

Even companies with so-called meaningful discoveries have been crippled by this market.

Yes excellent team here, lots of funding, just need some good discoveries now.