Member Info for SidR

Would be good to get an update on the drilling which should have be going on for a month or so by now. If all went well they should have drilled well in excess of 1000m which would have covered all the IMA. Hope the lack of news doesn't mean they have encountered more issues / delays? Would be good to see some pictures of the rig in action and the samples as the previous video just showed the rig standing in the back-ground.

Back in July 2023 it was announced that "...At the Company's EL430 area...a recent programme of 116 hand auger drill holes was completed ....with samples currently being prepared for assay..." As far as I know these results were never reported, does anyone know anything different?

If the results are not available, I hope this doesn't reflect how long it may take to get results from the current proposed drilling!

I don't think the change in name will fix the problems! Based on past form I expect that the drilling might not even start in Q2 never mind reaching the FID. As far completing construction and reaching production in '9-12 months', well that's another totally unrealistic statement from the Board. I lived in Sri Lanka for a while and it took me almost 4 months to get customs clearance for a few crates of personal effects, never mind a mineral processing plant! Seeing it was stated that the drilling was necessary to help with 'design, engineering and mine planning' I don't see how an FID can be made without this information? Unfortunately my shares are now worth so little there is no point in selling out...

Recently there has been a couple of references by CMET about seeking a local partner; I thought the intention was to work with Dinal Pieris whose involvement was announced about a year ago? This is a shortened version of a LindedIn post:

"Capital Metals welcomes Dinal Peiris to the project... Through his local investment company, Keynes Investments, Dinal...chairman of Lanka Aluminium Industries...is a substantial shareholder in Damsila Exports, which will undertake the future mining and screening of our heavy mineral products. Dinal is a well-respected Sri Lankan industrialist, with over 40 years’ experience as an engineer.... and has an excellent understanding of the modern mining techniques we intend to deploy at the project.

Unfortunately I'm not quite so positive; I was hoping that we would be given a date, or week or even month that the drilling will start rather than 'the rig is on site' / 'we're all ready to go' etc... Seems CMET don't have any private lands signed up as yet which I assume they will need to drill (..and mine)? Hopefully i'm proved wrong with some nice pictures of drill samples soon...

Danielm89, Assume you realise the link you posted is about TSL's Mannar project and unrelated to CMET? Not sure of the relevance to Brent Holdings?

Ando, £3 billion...please refrain from implying you have some kind of inside knowledge and then making ridiculous comments / forecasts. Thanks

I'm impressed with the optimism shown by some for the drilling; but just because they might now drill to 10m it doesn't mean there will be mineral to 10m. To my knowledge most deposits close to beaches are thin and will have poorly mineralised grits/shells etc well before 10m. I think the government operation to the north only mine a couple of metres from surface. Hope I'm proved wrong!

L-Wolf , almost nothing said about government situation other than Greg has been in discussion with the GSMB about getting final approval to drill and was also pushing to get additional licences approved. He was a bit vague about start date for the drilling but said they were hoping to drill well below current holes (which were restricted by water) to expand the resource vertically as well as extend laterally in a few areas.

Obviously freight/import of samples from SL to S Africa will take a bit of time but I have no idea why Greg says the lab will take 3-6 months to produce results. Most mineral sands capable labs will be able to provide results in a couple of weeks as it's such a basic process that requires no high tech equipment?

Not sure why my post was seen as being so negative; I just think they need to get approval to mine below water table in the near future as that would be the easiest route (more ore for the same amount of surface disturbance / rehabilitation) to increasing the resource and hopefully at the same high grade as in the top 3m?

I did type in some questions under the Q&A box during the presentation but it seems they were not seen by GM or the facilitator; did anyone else have this problem?

Disagree that it's inaccurate! Slide 17 of the presentation shows what I assume is a typical drilling section where current resource is down to about 3m which in various presentations / documents has been explained by the drilling stopping at water table. There may be some areas with greater depths but I assume they are not in the current resource otherwise average depth would be greater? I just think they need to address this below water table mining issue prior to starting operations.

Unfortunately restrictions on mining below water table is a big issue they need to sort out now. GM suggested they would address that in the future but its not feasible to mine to water table / backfill / rehabilitate and then come back at a later date to mine ore below the water table. Talk about increasing the resource always mentions going below water table.

Not sure why they haven't rushed over to the COPE offices and made direct contact with senior officials of the GSMB investigation; or hopefully they have but forgot to mention that in the release.....

Just wanted to ask if any information has ever been released about land access negotiations? The EIA / IML won't mean much if CML haven't got permission to access the land either with any individuals or state authorities holding the land. Assume there would also be significant payments involved in any agreements?

Unfortunately I'm not as excited as some about these results; looks like all this drilling was completed in between previously drilled lines and hence is already included in the quoted resource. Average grade of 19.9% is broadly similar to the overall resource grade of 17.6%. Yes, its confirmation of some great grades but wont result in any additional resource tonnages. Worth noting that the drilling was done in the southern license but I believe the IML application is for the north. That sample at 86% is pretty special though.

I don't really see any real benefit in having the port located within the EL; only potential value in my mind is whether it contains significant (accessible) mineral resources. Judging by the very long delay in releasing results from the drilling in EL199, it will be next year before we have any info on EL430.....
Such a pity this isn't making any progress, right now SL could really do with a project like this going ahead.

Disappointed that there has been no word on the IHC Report that MF indicated would be completed by end Jan or the drilling results that should have been released a while back. Hoping that these will be provided in one big good news announcement one day soon when the ML is granted?

I believe it might be a bit easier to import samples to South Africa as opposed to Australia where quarantine authorities are rather strict.
I see TSL also recently secured AUD2M in funding, good to know there is still some positive vibes around SL mineral sands.