Nice to see this waking up somewhat, kind of thinking this simply got too cheap and has moved on technicals and a little momentum over the last few days. That said, fundamental news flow has been long over due so an update on el romeral or selva surely cant be too far off?
Considering H1 2022 production for Italy, cant help expect some licence news H2 2021, no real explanation for the extended delays from the company, but surly reaching the last hurdle..
Been a solid retrace on the back of the DRC deal not passing but worth noting the bods review of over 130 potential prospects and fundamentals are pretty much the same. TA seems happy to increase his stake and I've no doubt the board will work to find a resolution/suitable project that suits all.
"Management is now working with the Board to review a number of other transactions for the business or alternative strategies, which could deliver shareholder value and reward our shareholders for the patience shown to date."
So trading near cash value again and still in search for a project. Kind of suggests that the slightest hint of a new project stands a chance of getting the green light, in which case a rapid bag wouldn't be out of the question.
Dipped my toe back in, risk reward looks pretty fair at these levels.
Seeing as this has gone from ~3.4p to 1p on the back of no deal/negativity, cant help but expect the final results to confirm orm is trading not too far from cash value again and by the looks of things, the board/management are still active in looking for a project that will suit all parties. Very binary, but I would expect positive news to be well received. Starting to wonder if the bottom is in.. if not, perhaps nearby.
Vorag, well when I say add value, its worth understanding what that means for the pi. CRTM cannot add value over and above any other listed company that has no cash flow, the promise of a good story invariably leads to the need for cash which is dilutive. I struggle to believe there are projects available that provide a quick return without many hurdles and the need for financing. So in my view, the idea of tidying up a near producing mine will involve more than giving a ball mill a coat of paint and having a good sweep up, if that were the case, why wouldn't the vendor do the same? Still, no one knows the future so one to watch over time for me
RE: FFS...it's getting tiring now.10 May 2021 13:23
JB, cant say I was surprise that a jv hasn't taken place. My thoughts were that the idea of a jv was great for bringing about a little interest (carrot and stick approach) while the sp was rising, but was likely to fail and instead provide an opportunity for a decent size raise - which happened
Sounds like a sensible approach Dave My take is just because a company is look for a project, doesn't mean share holders (pi's) will get something for nothing. Anyone thinking a profit generating project is on the table and available for peanuts is just being naive. I'm sure many understand that in order to find one project the buyer will either need to have a lot of cash or be willing to print a lot of shares and of course, add value in some way.
I'd settle for the licence renewal and a push through 1p to get the ball rolling cipro Although quite a bit of volatility so 2p wouldn't be out of the question with the right news flow and some interest all in good time?
Thanks knownuffin, good luck to you too The same will apply to your mindset and agendas also, an much like you, I have no interest what you hold either as I don't see the game as a team sport In the mean time, I shall sit back and wait for that NASDAQ listing that people are talking about
Ah yes I did say aim CEO, well either way knownuffin.. doesn't make a great deal of odds I like to think I do use my time wisely, you don't have to be 100% in a share to comment as far as I know? But I do get cautious when I start to see group think
I applaud the optimism there seamus but talk of divs and 200m mcap for me is a long long way from where crtm is at present, I've no doubt many aim CEO's wish for the same, all depends on what project is brought on board and at what cost.. personally have been happy to have seen this trade from 6p onwards... but I shall be moving forward more cautiously!
So in terms of q1 numbers 4004 carats sold at an average of $446 4 of which sold for $381k
In which case total revenue - 4004 x 446 = $1.785784m total discounting the large stones would give $1.404784m for 4000 Carats = $351 per (smaller stone) carat
In short, when the new mine becomes operational in July with an all in cost of ~$200/carat, it looks like there's a decent amount of profit even for the smaller stones. Hard to see how the sp doesn't recover over the coming months !?
Indeed furry, seems like the bod are in a tough spot and not sure how they get out of it. Cash burn with no additional project on the horizon puts them in a weak position, but then TA would know the cash is ticking down also, not such a win win situation. interesting.
Nice to see the positive results and increase in diamond prices generally Now rainy season is out the way, kind of bodes well for Q2 even with a slightly frustrating month/two month delay in plant expansion. That said I don't think I've ever seen a company complete a project at the time they first expect an this is no exception. July it is.. Would be interesting to know what the additions/ancillaries are to the plant, re-crushing circuit, covers, national grid link etc on the ground updates would be useful Looking positive for future returns!
Once the company enter a run of good news: -improved Q1 -further large diamonds & price improvements - Progress on new process equipment, higher production - lower costs due to higher process volumes - more larger diamonds -grid connection lowering costs further -cash flow positive over the coming months, mm will feel more confident in raising the bid as volume increases. Same goes for the ask for that matter!
I'd agree with the waiting patiently ivans, uncertainty as it is and delays in the process of project hunting makes me think the mm might not want the bid too high for a while, particularly with TA's 20% a chunk of which bought in the 0.7's Might let the dust settle
By the looks of things, Q1 results will be a lot stronger than Q4 for what appears to be a decent recovery play. Add to that a vast increase in productivity over the next few months should move this back to operationally profitable (Q1) to having decent free cash flow.. (Q3) not sure the market sees it yet, but should be an interesting few months ahead