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I think you'll find I sold at a loss but bought cheaper hence bringing my average down slightly. That's the thing ...... I'm not trying to hide. But overall I'm trying reach my average...... by trying to be real.
Your comments seem to suggest you either want to get in cheaper or you are a shorter
No saying the situation is great, but this is aim and as such is sentiment driven. Do you remember when we had a drop after every great rns? (Not that long back) What we need is to keep the positive views going and get the sentiment back...... unless you are quite happy to loose the lot?
Fira are you sure you have an average of up near 1.7p........ if so I dont understand the quotes like "maybe a dog" ...... unless you are shorting
Fira you really are a glass half empty sort of person. Did the plant produce copper cement? Do we have a jorc resource of copper? Tell you what let's put them both together.
Oh yes that's what we are trying to do by getting the permit to mine Rosman east first.
Yes you are correct though, there wasn't the desired amount of copper in the existing heaps, wouldn't class that as a fail though as we dont know if the heaps have already been processed
Fira you really are a glass half empty sort of person. Did the plant produce copper cement? Do we have a jorc resource of copper? Tell you what let's put them both together.
Oh yes that's what we are trying to do by getting the permit to mine Rosman east first.
Yes you are correct though, there wasn't the desired amount of copper in the existing heaps, wouldn't class that as a fail though as we dont know if the heaps have already been processed
MK, Just for good measure, from the Friday, Nov 22nd, 2019 RNS:
‘Additionally, LCCM successfully commenced trial operations at the Mountain of Light processing facility, including sale of material under its offtake arrangement.’
The plant has been proven to work, 5 tons of high grade (70%) copper cement has been produced and received by the customer. This not only activates the supply Agreement but the normal industry grade product is about 34%
Marshal, It’s been proven to work - but they need the finance to maximise revenue in as short a payback time as practicably possible; moreover, the finance itself, for the proposed near-term production, can be sourced from non-mining entities.
And broadly speaking, predicated on where this company had been a few years ago, before JP and PW became heavily involved, it would be churlish for anyone to describe them as snake-oil salesmen and a lifestyle BoD: their overall actions seek to increase the value of the company, especially by attempting to diversify the resources’ portfolio and subsequently the revenue; unfortunately, as with most junior explorers and miners, negative market sentiment, investment timing, and multiple geopolitical variables and other factors can precipitate a vicious downward spiral - it’s the nature of this market and this industry; but while I question the timeline for LC and our other projects, I believe that they will eventually come to fruition.
Three postings in a week from me--highly unusual but we are at a crossroads with this company. It has to be proven that LCCM actually works and can produce the copper regularly and increasingly as had been predicted by the BOD starting last summer. Until this is done the bigger mining companies will not be interested in SML and no funding will come our way. Everything depends on getting Leigh Creek up and running. If LCCM can produce the goods with a mineable life of we know to be at least 15 years, then we would be ripe for a takeover at many multiples of the present share price. It is sheer frustration for us not to know what is going on to overcome the issues with the mine and I do wish the BOD would give us some news to justify their enormous salaries.
Hey Futures,
Good to see you’re still here - and proving your investment horizon matches your name.
Hi Prop.. although somewhat perplexed at the current position, I share your sentiment. This is a very long haul flight and I am sure all are working hard to find the resolve... Copper is a key resource for the EV market and at some point pricing will be top dollar $.
BigAsk, This one calls for Big Patience ; besides, best to ignore the short-term - and overdone - copper-price decline: from what I've researched, one of the rationales of the bigger mining companies that buy or invest in smaller mining companies is the mid- to long-term demand for the commodity in which they invest - and copper remains as one with a strong long-term demand, buttressed by a declining output.
Please ignore my childish remark above, uncalled for but feeling a little frustrated at the moment.
Leigh Creek.......Hmmmm, always thought that the deal with Resilience was a bit clicky if you know what I'm getting at. Don't we have anybody on this board who lives anywhere near this copper mine to see if anything is happening on a daily basis?
indeed, just thinking news must be coming shortly.....
416k was my cheeky buy. they are not sells, but to most its obvious they buys
We have ongoing discussions with potential partners/funders to move our projects forward
Cobre generates significant cashflow for #SML
As a reminder John & I own almost 8% of the company, we are seeking "...a solution which is best for the Company and its shareholders alike"