Member Info for PaulFG

I have to agree, Fairview, what got my initial interest was two parties interested in doing a JV and Demir offering substantially better terms to secure the deal.

PROFC has a long history in exploration success.

The fact that they raised recent funds with apparent ease in this climate is a very good sign.

Indications are Demir are willing to proceed to phase 2, ofc I'll wait for signed confirmation.

Am watching carefully it could all still go wrong, obviously would love to see Havieron type grades...

@catbert interesting observations.

Have you guys had a chance to read the Chairman's Report? For once they are actually giving us details, which is great, and end of the blah blah blah style of MF

I'll look into it to see if I can too.

Yeah, I hear you, but I can't make investment decisions on 'quite cryptic' comments (especially in RNSs)

No formal announcement that DEMIR going to phase 2, though I agree can be inferred - but I don't like to infer anything with AIM listings.

I'm not saying there's anything shady, necessarily, going on here, it's just the RNS structure from CGNR is unlike other exploration companies and does raise the 'alert alert' antenna.

SO I'm a tad baffled by this latest RNS - wishy-washy at best.

6,000 metres drilled headline - but I can't see any new drill results announced. where all these just new trench samples. Is it that the drill (from three drills-a-drilling) has just produced nothing of note?

This shadowy shades of grey approach is not providing much comfort.

Astounding how much cash AMRQ has at it's disposal to progress activities.

The lack of newsflash is somewhat baffling, especially given the amount of activity, three drills a drilling, previously announced being undertaken.

I just don't think public companies sit on good news, especially characters like ProfC that enjoy the limelight.

Haven't bought in yet, but it's definitely on the radar.

Https://www.londonstockexchange.com/news-article/CMET/offtake-mou-extended/16097276

Goodnews for once

Detailed article here, page 22: https://user-54716422671.cld.bz/Modern-Mining-August-2023/22/

BOI tasked to get foreign investors for mines

"In an effort to curb what industry sources said was rampant corruption, the Cabinet has further sanctioned shifting the authority for accepting and appraising investment proposals related to mines and minerals to the Board of Investment (BOI) from the Geological Survey and Mines Bureau (GSMB)."

"...under the latest Cabinet decision, investors will be granted mining licences and will have two years from then to complete setting up their heavy mineral concentration, refining and separation (CRS) plants. Within those two years–known as a due diligence period–they will be allowed to export mineral sands as individual minerals (such as ilmenite, rutile, zircon, garnet, silminite and mozanite) in their pure form “to a maximum of 30% of the total proven reserve”."

"Environment Minister Naseer Ahamed, under whose purview the GSMB lies, made a strong push to cancel all existing exploration and mining licences previously issued for export minerals. The Cabinet approved this but with the proviso that it will be in relation to investors who have “not taken meaningful action towards implementing the project with due compliance of the provisions of the Mines and Minerals Act”."

Very interesting article here on reforms heading into the sector to tackle the rampant corruption at the GSMB, could be good for us:

https://www.sundaytimes.lk/230820/news/boi-tasked-to-get-foreign-investors-for-mines-528869.html

Just clicked on tweet url - says it's been deleted

Nice interview with LSE today, highlighting:

1) Publication of the Maiden Mineral Resource Estimate next month

2) Publication of a Significant JORC resource estimate

3) How they intent to fast-track further drilling to extended their resource estimates into a world class rare Earths opportunity

They've already said there will be an equity raise but not yet.

Okay so the report puts a 30p valuation on a fully diluted basis 12-18mths

500% not bad.

if you give credence to such reports...

We get an indirect mention (nameless) here in another Sunday Times article about the SL Mining industry:

https://www.sundaytimes.lk/230813/business-times/neither-right-nor-wrong-527526.html

"I decided to write today’s column with extracts from Ryan’s analysis, after seeing in last week’s Sunday Times two important news reports from the mining industry. One was about a British mineral sands company going to Sri Lanka’s Appeal Court against the country’s mineral sector regulator – Geological Survey and Mines Bureau (GSMB). The case is related to the GSMB’s unexpected cancellation of the company’s industrial mining licence, reportedly acquired after an investment of around US$ 11 million on preparatory activities."

Interesting that it didn't change the sp that much.

I wonder if one of the OGs are getting out?