Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I'm beginning to look forward to Snowking's posts - what a sense of humour! He did say 'George always gets there' didn't he?
Well - GR has never got there with anything for the last 10 years... it will be a first!
Have to say that I agree with Acker. Video commentary is vague and it all could just be an attempt to get a rally in the sp. GR didn't say whether the plant had been running for days or hours - he only said 'some time'. I'm guessing it has been hours. We need an RNS to confirm exactly what the progress is, what the volumes and grades are and what will be shipped in May.
I'm hoping that the sun setting behind the plant isn't a sign!!
I'm afraid that Martinigirl has called it right on Prem for over a year now. I can't argue with that record. If she's making money as a result, well done her!
As for the radio silence, it is very concerning and there must be something significant happening. GR should really come clean and let the market know - he shouldn't be withholding critical information. But this is what you get with GR and Prem - I would not be surprised at all if GR announces something regarding Mutate (don't look there, look here!) before we get the bad news about Zulu. Very, very disappointing!
Next ChemX's position is not a surprise - there's been enough indications that they're not a multi-billion profit making company!
I agree, MrT - this isn't going bust and I'm hoping/expecting to see the sp rise again next week if they get through the next gateway.
I also think that there are more deals to be done. Very interesting times for such a minnow of a company.
Wullie14 - last time I looked this was a discussion board where a variety of views can be published. The worst people are those who will post positive comments regardless... does more damage I'd suggest. Nothing wrong with people expressing different views... in fact, that's what makes this interesting!
As for the lack of news - it's not good but par for the course where GR's concerned. I still have faith that there's plenty of sc6 that can be produced by this plant eventually BUT it's getting more and more costly in terms of time and money and interest. Have to say that I'm getting concerned about GR's ability to see this through to production and our Chinese friends may well be playing the long game, waiting for GR to run out of road.
Apologies, rebel100, I was led to believe that there was potentially a support package available from the EU (don't know where I picked that up from) and was thinking that any indication that they were providing that would be a signal that CLON were progressing to the next stage. At the very least, EU officials would want to be greasing the wheels to get European companies on the list of licencees.
If the sp is going to increase in the way that the majority of us hope then the start is of that shift is going to be now - that's not a ramp. It's very simple - news is expected soon and in the run up to that news, people will start buying hoping to make some cash... whether they hold long term is another matter.
There's huge potential here - CLON may get 1 or more licences or they may not but they appear to have a unique relationship with the BOL authorities which counts for something. The EU angle is likely to benefit CLON as well. DH seems to have done a good job making all these connections and I think will have a strong case to put forward to the BOL authorities. I guess some bidders will be knocked out come 9th May - if CLON are still in then we should see a significant re-rate. I'm hopeful!
Does anyone know the criteria for getting EU funding?
Leggylad - I don't think CLON would've got passed to go to the next stage if the BOL authorities had concerns about the technology.
I'd say that it is very significant that the share options were given last week... at a point when we're expecting negotiations to start/take place on licences. For me, this is a very good signal - my guess is that they're very much still in the mix.
Haven't commented here for ages and, yes, the Next-Chem situation doesn't look as good as initially hoped for but the key here is whether CLON can get anything from the BOL authorities. I'm relatively optimistic that they will get something. If they do then financing will follow and the sp will rocket.
Acker - yes, I think there'll definitely be another fundraise and, yes, he should've gone bigger yesterday... but that has been his MO all along. The bank loan was a bit of a dampener as well.
Still a lot of jeopardy here even though he has dumped Stark and seemingly has a handle on the issues. The only good news now will be confirmation that the plant is running continuously.
I'd be wary of any other seemingly positive news!
Acker - not sure that I'll take that as a compliment... that knowledge comes with a load of scars too!
I think someone else referred to it almost being a year since we peaked at 1p and production was imminent at that time too. Yes, we are closer but you'll not be surprised to hear that I'm not convinced yet and probably won't be until we hear that the plant has run continuously for several days.
Acker - I'm afraid that he is fast running out of road now! I agree - GR needs to get production of SC6 going in the next 2-4 weeks. I don't think that the market will accept delay in to the 2nd half of May. Make or break time!
Whywastetime - I'm not sure what else you need to know about the additional fundraise. The 'institutional' investor is getting shares at 0.17!!! There is nothing else to know!!! If you're thinking that there is something positive about this particular fundraise that we haven't been told then that is, with all due respect, extremely naive and bordering on fantasy!
Yesterday, I took the view that the fundraise was expected and needed, and I assumed that it was all that was needed. Today is different. Fundraises should only be done for what is absolutely needed and, if GR had needed another £1m, he should have taken it yesterday in one go. The 'corporate' interest should have been told to wait for the next round when one would have hoped that the sp was higher, possibly much higher. It's not the 1st time that GR has done this and, for me, it just shows how poor his management and control is.
The rollercoaster continues and I'm feeling less confident that GR can get this over the line!
Can't say that I'm overwhelmed with confidence after GR's Q&A but he has been more candid than ever... which is a bit of a revelation. Steve at Biztech has done another helpful assessment.
I agree with him and others that if you're holding, you should vote in favour. Whether Canmax and others will is a major question. GR has been happy enough to comment about Canmax before so the fact that he isn't doing so this time sends a signal to me, I'm afraid.
Like everyone else, I'm really unhappy about the situation at Zulu and, given that GR has had a year to sort this out and given that the days and weeks that he mentioned a few weeks ago have run out and given that he still has a long list of issues to resolve and given that there is no confirmation of when he will have enough to ship or a date for full operation and given that he can only be 'hopeful' about shipping something this month, this is proving to have way more jeopardy at this stage than I was expecting.
Can GR deliver? That's the big question! Forget about any other jam tomorrow projects or potential sale of Zulu or $4m from Stark (as if that's going to happen), he has to get Zulu producing. He's not produced anything of substance from any other asset so it's not looking good!
I sincerely want PREM to succeed but this is all feeling deja vu yet again!
Not sure what to make of this - seems like GR can't raise funds in any other way at a point when he really needs to. So much for getting funds from Zim sources! He could be raising, what, £8m or £9m to pay off debts plus feels like a good chunk will be for getting through to full production. Don't like that the GR loan is now being described as being 'in default'. Can't say that I'm full of confidence about the current position!