Agreed guys, good update, the company is finalising the last of the land access permissions with the rig on standby. More importantly due to the fact that they have such a large established resource already they can still move forward with the FID, offtake, financing on the previous Q2 schedule which is very positive as we're not far off Q2 now. Its very positive that Greg and team are also in Sri Lanka at the moment and it all sounds to be getting there.
Regards,
Ed. |
I remember from one of the previous interviews that all landowners had to be spoken with etc so was always going to be a slow process, progress anyway.... |
 Finally an update Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project* (renamed) in Sri Lanka (the "Project"), is pleased to announce that the Geological Survey and Mines Bureau ("GSMB") has signed an agreement pursuant to which the GSMB will provide technical services in connection with the forthcoming resampling and drilling programme. The Company is finalising the last renewal of land access permissions, with the air core drilling rig and team on standby. The drilling programme aims to increase the Project's resource, and inform ongoing design, engineering and mine planning work, whilst obtaining greater geological confidence in the proposed mining areas. The drilling programme was delayed due to Sri Lanka's elections which resulted in widespread ministerial and senior personnel changes across all departments. The Company does not currently expect any impact to its target of reaching a Final Investment Decision ("FID") in Q2 2025 in order to commence construction, with an expected 9-12-month construction period until first production. |
Blue today. Maybe that was the bottom. Dreadfully quiet from BoD, after all the interviews and hope they were pushing back in Autumn. Disappointing but I continue to smoke the hopium pipe for now |
What a disappointment this share has been. When will there be some news of substance?. Where's the bottom? |
It's been a long wait for any news. Hopefully something soon. one way or another |
Hopefully lots going on in the background regarding project finance..... |
Should be a fascinating year......... |
20 Mining Companies to follow for 2025 Part 1 (A-E) https://total-market-solutions.com/2024/12/20-mining-companies-to-follow-for-2025-part-1-a-e/ |
Half year report should be due soon |
Why do you say they don't have mountains of cash.. they had 3m in March, and the drilling was said, way back before elections, to be a couple hundred thousand maximum. It was a cheap way to add value. Yes they'll need cash eventually.. but let's see what comes of funding discussions first I think. |
Seems a pretty straightforward and honest guy......bring it on |
Smack,
Good interview. they sure are on a promo campaign, here is the webinar from Friday too:
Regards,
Ed. |
https://youtu.be/XA06clVAy-E?si=w531qXqq402qXB7Xinterview |
The plan to sell a chunk of the company (15% was mentioned) to local Sri Lanka investors is a sensible one IMO. Apart from raising some money, it will get some brownie points from the government, give positive PR, and also mean that if the government starts acting funny again, these local investors will be better placed to put the pressure on the politicians. |
I'm still keeping an eye out here. The overall business case seems very strong, but I still have a couple of concerns.Has the new left-leaning government increased risks for foreign investment? Could they demand a large free carry in any project, or could they significantly increase the tax/royalty take?Also, while Martyr says they "aim" to not need any equity raising, in reality they don't have mountains of cash left, and have hired/are hiring a number of senior people to push the project forwards which will make increase costs.Any thoughts from anyone? |
this so is only the start, cmet took a big dive when sheffield pulled out its now on the up and i am looking at 4p plus by early next year. |
after all the travails, I can't believe you'd exit now...!! |
it's been quiet for a while. probably not surprising a few took the exit. but, it's all just starting to come together by the sound of the last couple RNS, and interview below. |
looking better today, was disappointed by the pullback yesterday.... |
https://x.com/zakstraderscafe/status/1863921201933902226?s=46&t=IOG0ucU-9fmpZa5wxcfsiwInterview out. Non dilutive ?partners chasing them... I feel a good story at price brewing here. |
Rocket ? lit! |
What an update........ |
Register for streaming realtime charts, analysis tools, and prices.
Hot Features
Premium
