Member Info for sebo10

£30M might be loads for you and me but for an asset potentially worth 3x155M - it's nothing. I assume that political instability was the reason why CMET preferred a JV rather than trying to get financing. You, or somebody, should ask this question on Wednesday.

I think that the door was simply left open for LB out of courtesy. I don't believe that LB made another offer but we might never know. Sheffield initially agreed to go ahead with the JV as of May but the Sheffield financial situation has worsened since then. They are already committed to other projects so it's understandable. I think that Greg needs to come clean about what has happened and how we get back on track. I agree that this MCAP is ridiculous and equal to when we had the licences stolen. We were already very low before the SP crashed further, doesn't seem remotely justified apart from the herd effect of people selling.

LW, there are always posters on this board who talk down a share that is well below any sense of fair value - the asset in the ground is worth considerably more than 5M. I see this drop as a likely short term recovery - Spreadex had a role to play. Let's wait for Wednesday, I think the BOD can see how the market feels about the last RNS, they need to steady the boat to put us back on track.

Bruce clearly saw a valuable opportunity and wanted a piece of the pie either as an investor or ideally as a JV partner. Not all MOUs result in a successful deal. BG is the man behind both deals without a doubt - were LB serious on their own? Now, we need a clear unambiguous plan and the start of drilling to recover the SP after a huge panic-driven drop that massively discounts the resource potential.

That the LB deal wasn't on acceptable terms is what I meant.

I've always assumed any deal that LB offered was on decent terms. Either way, there was a hard stop and decision to go with Sheffield. CMET need to get drilling to expand the resource seek some finance - not a lot - get producing asap and then use the profits to expand and don't forget the other licenses too. We need a solid plan B now, the BOD really needs to get this right.

I think that the board needs to forget Sheffield - it wasn't the right outfit for funding. LB was the safest bet, clearly. Let's hear some clear things from the BOD for a change.

Warren Buffet used to buy when everyone else was hitting the sell button. He figured a fundamentally sound business should recover and make him a small fortune. Just trying to be optimistic - it will go back up if the BOD give a good performance and explain what happened. Let's see.

What about all the LTHs who have been decimated? It's difficult to trust the BOD after two failed deals that they claimed were the best route to production and the best outcome for shareholders.

Seems like very big news. Their phosphate battery could be sold in the millions of they get into EVs. They would enable increased range and significantly reduced weight - that would hopefully bring down the cost of batteries too. The market should push this much higher from here - the IPO was 135M.

This scenario is highly unlikely given what happened before. However, SL might refuse additional licence applications - who knows? But the whole mess looks like incompetence, which doesn't help us.

I think that there will be a recovery but until a deal lands any improvement will be timid.

Good luck. With no news coming for weeks based on past form, 1p is possible unfortunately. I'm sorry that so many will likely make a loss here, even if the SP recovers in the future.

*what you've done..

I hope the BOD get the message here. We don't like what you've and feel deceived. Sorry guys, you can't lie to us and not expect/hope that your MCAP will be decimated. I lost a lot on this share - should have sold several weeks ago but I didn't think that Sheffield were incompetent too.

A ploy to crash the share price and pick up the company for peanuts. Greg should expect legal action if that's true.

This is going nowhere until CMET explains how they plan to get production going. They need to forget about Sheffield and focus on debt financing. They should have started the drilling months ago. They were holding out for Sheffield to fund it - you might draw your own conclusions from that. Remember, they need new hires to get the resource expansion going -- boots on the ground. This all costs money. At this point, I don't understand what the BOD were thinking - SL will want their licences back at this rate.

Expand the resource with the million in the bank and then finance on basis of NPV. It's that simple, you could end up with an NPV of $500M and then $40M debt would be peanuts. The BOD are making strange decisions based on Greg's old mate who moved from LB to Sheffield. Very bad optics - perhaps Greg needs to consider what the failure of CMET would do to his reputation. This latest chaos is completely self-inflicted. I was caught up in this like many, it will be months before we see a deal to reverse this nonsense. Greg, pull your bloody finger out - many here are ordinary people and all you have achieved, so far, is the obliteration of their life savings. You cannot be remotely proud of that achievement?!

I think it was a concern for me too. But, Greg had stated that the deal would close shortly and sounded confident. He basically made a mistake and has made a fool of himself. Not a happy camper, he needs to turn this around and stop F'ing around!

I have substantially reduced my holdings. I just don't see this going anywhere soon. It took months to switch from LB to Sheffield. I still have faith and will reinvest once things are more positive.