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If it helps, in June 2017 we had 1,245,825,560 shares in issue (notified voting rights). So we have roughly 75% more shares. I still think I am being conservative with my prediction of circa £30mcap on PEPR and funding (1.5p - 1.8p). Things will happen fast once we get the PEPR IMO. If you don't have a ticket, you can't ride the train.
Futures it is sadly become pointless measuring SML relative to old prices, due to the previous dilution experienced over the past couple years. I am unsure what the exact market cap was when SML traded at 3.65p but I am sure it wouldn't be the market cap if we were t trade at 3.65 p these days. I feel like previous dilution, even though small has weighed down on shares and the tight cash balance doesn't help.
hope everyone is doing well here, I have jumped back into SML now after a long spell out and believe that JP might actually deliver something material soon - feels hard not to with copper at these prices!
Futures, This company’s got multi-bags written all over it; six-and-half weeks - for the PEPR’s approval - before the end of Q2.
Cornish, Thanks for your time and your explanations.
Looking at the project: -
Year 1.
Construct Paltridge North $2.2 million US
Extract 20% copper @$10,000 per tonne x 1020 Tonnes = $10.2 million Revenue
Operating cost $1.34/lb x 1020 x 2200 = $3 million
EBITDA = $5 Million
Year 2
Extract 40% Copper @ $10,000/tonne x2040 = $20.4 million
Operating cost 1.34 x 2040 x 2200 = $6 million
EBITDA $14.4 Million
Year 3
Construct Lynda/Lorna Doone $4 million
Extract 10% Paltridge North -$5.1 million revenue
Extract 20%Lynda/Lorna doone = 2175 x 10000 = $21.75 Million Revenue
Paltridge North Opex = $1.5 million
Lynda opex = 2175 x 2200 x 1.23 = $5.9 Million
EBITDA $15.5 Million
Year 4
Extract 10% Paltridge North $5.1 Million
Extract 20% Lynda $21.75 Million
Opex $7.4 Million
EBITDA $19.4 Million
Year 5
Extract 10% Paltridge - $5.1 Million
Extract 20% Lynda - $21.75 Million
OPEX - $7.4 Million
EBITDA - $19.4 Million
On those figures, 4p is very doable with the other assets. In my opinion.
Prop, we were 3.65p not too long ago, so we should push past this level with PEPR and more so come production revenue. Add some herd piling in and tick up times ahead.
So would you think that LC on its own could increase our share-price to 4p?
I think thats a realistic timeframe. The problem is we need basically £100 million, if that was raised now, everyone would be diluted to nothing.
Once you have LC running, it provides leverage to raise, firstly just by raising the shareprice considerably, it could return the shareprice to 4p in the current climate.
Cornish, Thanks. So, on Redmoor, would you think that we might be able to attract enough investment to propel forward its development instead of its being stuck in a circular holding pattern? Because, to me - and no doubt to many others on here, too - it seems at least five years away from producing even a spade’s worth of tin, tungsten, and/or copper.
Put it this way, call it a security measure, you'll soon spot an imposter!
ahah sorry, I keep getting it when I use the phone!
Can we all club togetger and buy Cornish a new "h" key?
A large part of it is sentiment. Do people believe SML can get LC or Redmoor built?
CUSN have a stonking II behind them in Osisko Developments, with a board with a solid track record.
South Crofty is far further down the development path than Redmoor,as much as some dispute that - they could literally start construction and dewatering tomorrow- projects in that position are few and far between. An in the world of $30k tin, it us possible tgat a major investment could occur at any time. If you look at some if tge trades in tgd last week, there is some serious money going in.
Get the PEPR and this will change very quickly.
Cornish, Would you grace us with your expert mining knowledge on articulately explaining the huge market-valuation disparity between CUSN’s Cornish resources and ours, please.
The answer to your question
The share price is where it is, because of lack of publicity, analytical coverage, and institutional holders.
Once shareholders have spent the necessary time reading up about the companies they will realise the potential upside, and invest accordingly. Both companies have in fairness been held back by Covid, but as the BoDs start to get about and present their cases, word will spread and valuations may come into line with the realities.
We are still waiting to see the program of events/presentations/tours that our BoD have lined up to take advantage of this once in a business life opportunity.
Boris Johnson is urging world leaders to embrace a green economic recovery at the G7 to ‘build back better’ and ‘create a better future’ in the wake of the pandemic. It’s maybe why he has chosen Cornwall to highlight the potential- ‘because we want to be the exemplar of a better tomorrow’
The PM has previously stated that: “Two hundred years ago Cornwall’s tin and copper mines were at the heart of the UK’s industrial revolution and this summer Cornwall will again be the nucleus of great global change and advancement.”
Question for everyone on here - Why is SML’s market cap £10m and Cornwall Resources (South Crofty) is £40m?