I’m not a serf you get to beckon because you can’t check your...

I’m not a serf you get to beckon because you can’t check your emotions.

I’ve been busy with something called life. You may have heard of it.

And I do not spend my days posting ad hominem attacks ad nauseam on internet forums like some around here. While venting may make some people feel better, I personally can’t see how it will expedite anything. And unless I feel I am adding something of value to the threads, I just don’t comment. Each to their own.

You seem to have an issue with comprehension. You are failing to comprehend how difficult it is for a junior mining minnow, capped at A$73m, trying to raise 3x or more that and predominantly via debt. Add in a challenging and changing macro environment. Conditions don’t exist in perpetuity.

Yes, I am aware that Baz has pulled an Arnie disguised as Priscilla Allen in Total Recall with his “two weeks” call and on multiple occasions. Yes, I am frustrated with the delays like others. No, I will not sook about it.

One only needs to see my signature below to find a way to contact me outside of HC. And some investors have done just that. And I have shared with them what I have gleaned from both my contact with Baz and via other investors I am connected with (who have also been in contact with Baz). I do not check in with HC every day.

As has been stated in multiple announcements (again on page 31 of the half-yearly report) the finance is one big puzzle. All parts are interconnected. The subordinated debt via Glencore is sorted first. Why? Because that will determine how much funding will come via senior debt. If Glencore sign a legally binding deal for the full A$50m, then Cyprium will seek the maximum amount of funds remaining via senior debt. If Glencore sign for less than that, this may impact the amount they are able to secure via senior debt.

As stated, they are working towards finalising outstanding DD activities with Glencore. It is my understanding that Glencore requested metallurgy info to be presented in a specific format and CYM complied with that and sent on these reports for Glencore as part of their extensive DD.

I was informed by someone else that Glencore spent approximately two months on DD for AR1 before committing funds (I haven’t verified this). If we assume that Glencore has only been in possession of all the information they requested from us from around July, two months would be around now (September). So, I am guessing that we are super close and that it could be any day now. Once Glencore commit, this should trigger the senior debt funding and I expect things to move very quickly. Now, there are no guarantees until everything has been signed and delivered. This could keep dragging on. Glencore will operate on their own commercial timelines and not be rushed into anything.

A poster by the handle TCB007 made a blatantly false claim the other day that “Glencore would be waiting on financial close before committing and won’t be writing that cheque beforehand”. This is clearly bunkum and deliberately false. There is no way this poster would be privy to that information. It is unsubstantiated. I thought this poster was just a disgruntled CYM holder, but have now seen them pop up in this thread down-ramping CYM as a non-holder. They are holding AR1, so their motives are clear now.

To recap, the subordinated debt comes first and is the key to everything. That being said, CYM can’t wait indefinitely for Glencore to commit and would need to seek alternate financing options if they perceived that they were being stonewalled. They could attract other parties for the off-take, explore a Nordic style bond, etc. There are options. I can tell you for a fact that Baz hasn’t appreciated all the abuse he has received. And he remains determined to finance the restart and plate copper. And I am still confident that he will achieve this. As frustrated as some of us may be, hurling abuse at Baz isn't the best way to go about it.

I’ve been involved with several financings and learnt a long time ago to never completely trust management - especially on the issue of timelines. I critique everything and make my own calls. I am confident that Glencore will do the deal. They are divesting of non-core assets, but still want the copper. All the big players are positioning for the copper cliff. As I said earlier, they operate on their own commercial timelines, so all we can do is be patient. Everything else is just noise.