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Sell the dog and invest the money in SML.
Mine was Redmoor 2021, ah ah
We need everybody and their dog putting their money in here, just need to give them a reason to invest
With the release of positive LC news, a bounce to - and beyond - 2p beckons, with the price stabilising around that level.
So, multi-bags to be had.
I wouldn't wish to discourage anyone from investing trout. If you are invested here you are then damaging your own investment. SML is a good share to invest in at this very low level. We're back at January 2017 levels of the SP. The projects we now have were far in the future then. They are now much more near term and progressing along with a few minor hiccups. Both the chart (supplied by Surprised) and the prospects must surely indicate a near term reversal of the down trend?
They, do, but failure to deliver erodes confidence going forward
Am sceptical, rather than distrusting.
We had a mantra her of 'under promise and over deliver'
2019 has seen that turn round
As I pointed out earlier each RNS contains a statement about forward looking statements, however if you distrust everything so much, why are you invested???
Everything in an RNS happens as they say it will...
Looking back at the RNSs they felt they could be moving to full production the next quarter after the feasibility study, so if that is some way off to you then you ought to consider whether you are suited to being an investor.
Some fair points Trout, without the feasibility study we are some way off
Touch wood, never bought a lemon, wish I still had my first cars! 70's Ford's are silly money, but the bubble will burst
Said vehicle is a Saxo VTS, £3k insurance at 18,silly boy,
For Pete's sake, forget the major customer - we move on, with a different structure from that which would have prevailed had they paid us; if the arbitration rules in our favour, and the rogue customer has funds, then the ensuing compensation will be a bonus for all; but, in the meantime, let's focus on LC, and its probable gift to keep on giving to us in the future.
You are 100 % correct Propinquity
The major client issue has a disaster, and not of our making, but we have had to try and handle the fall out.
I do question why the major client shand us off after all these years
You sometimes argue yourself into a corner, the feasibility study was ongoing alongside the restart of the processing plant, the metrics change if the processing plant didn't work and needed replacing/lots of investment, however the investment was needed to get the plant going (chicken and egg). Also you need to note that a lot of the investment was on drilling and assessing the content of the drills and applying for permits and conducting feasibility studies (these things all cost and need to be done). You seem to put it all as expenditure on the plant and equipment, there are a lot of residual costs that are needed to recommence a mining and processing plant, one of the most important is staff.
So to use your Son's friend analogy is wrong as SML tested and found holes under Paltridge North and Rosmann East and they had copper in them, that is the value of the project the copper. The feasibility study will map out the best and most efficient way to go forward with the project, to do that it has to see the process working on a trial basis. The feasibility study was due late Q2 early Q3 before a lot of work was done, it is now due H2 this year, it has slipped a little but that is understandable, I haven't got a problem with a bit of slippage to get things right, as your Son's friend (Was this you in an earlier life?) found out, to spend a little more time to inspect the underneath of the car is paramount.
Get the mix right and it's commercially viable and that will wrap us in a nice cashmere jumper
If we don't, it will be like wearing a string vest at the south Pole.
Once got caught in a snowstorm wearing a t shirt on a ski lift, highly unpleasant, idiocy of youth
Fira, Indeed, this year is becoming an annus horribilis for our BoD - all wrought by the major customer's deceitful pledges - and the BoD's lack of a plan B; but, based on their collective experience and their reasonably successful track-record in their various fields, the eventual outcome will probably be close to what they they had originally anticipated for the company - be it in 2020, or slightly beyond.
Fira, I am afraid that with the majority of mergers and acquisitions, due diligence reveals only so much: for instance, a company for which I previously worked on behalf of an outsourcer was bought by a bigger company that discovered numerous half-truths after it had purchased said company - despite the months of due diligence beforehand (they are both very large companies, by the way). From my inference from stitching the various LC-coloured threads from the now previously well-worn RNSes is that LC will be knitted into a financially cosy jumper that will warm the chill that some folks seem to be experiencing.
Think the Bod are having a year to forget
Will happily sell half mine, for what I paid for them
Am struggling to find share holder value here
So, the BoD declares the Leigh Creeks's current situation; as it is, they are damned if they do and damned if they don't - it's obvious that they're working away in the background to broker the best possible deal for the best possible outcome that will mutually benefit all investors - and the company itself, which is not as in a financially perilous situation as the naysayers would have you believe. If you dislike both the way the BoD functions and the Brexit-levels of uncertainty of this share, then sell, and invest elsewhere for potentially shorter-term gains.
Agreed Trout, definatly a waiting game, our people have alot to do.
Would have thought they would have concluded the feasibility study before spending all that money on plant equipment etc
Sons friend spent loads of money tarting his first car up, only to find it had more holes underneath than Swiss cheese. Similar
Having the due diligence done by the people you are buying is surely a no no
Well there's been some slippage but each RNS has a warning about forward looking statements....
Finally the latest from the Interims,
"Leigh Creek Copper Mine
Significant resources have been funnelled into testing and preparing the site for full scale operation. The restarting of the heaps, while not providing the flow of copper hoped for, was a strategically important occurrence. It demonstrated the ability of the existing plant to treat the planned production from the Paltridge North Deposit with the Company seeking to develop this project in 2020.
In preparing to fund this production, the Company has entered discussions with various funding sources and is confident that 2020 will see full scale production commence at Leigh Creek."
So a waiting game, get the feasibility study in, permits approved, funding in place and mining and processing new ore....
So come on JP let's have some info on what's happening before the SP slips even further.
Not sure about the production Stockdale. I believe we did produce a product in April, but we don't know what grad it was, what we sold it for and how much, if any margin was on it.
Since then the bod have not told us anything apart from in the interims saying its not working
I recon they are beavering away batch testing to get the mix right with material from Paltridge North, many furrowed brows.
Toze, you may be correct but there's a fair amount of guess work in your post. However it is a logical explanation for the lack of information. I don't believe Leigh Creek is not producing but maybe just less than was hoped for. The problem for the market is the reduced confidence because of the lack of information. Sometimes that can be worse than bad news. In fact I would think it better to divulge the bad news (if any) sooner with the added part that it will improve rather than allowing the SP to fall as much as it has. Too late now as it has now fallen. Bad news now would result in a further fall whereas bad news earlier would have us where we are or maybe not as low with any added information that things are improving.
Toze, don't know about the dilution.
But for me, the rest of your post is spot on, our thoughts align.
At least the penny has dropped with you Toze
People who spout forth how clever they are to predict things usually come a cropper some where. As they say: 'past performance is no guarantee of future performance'.