The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I can see that this news may not be transformational right now in itself , but it surely moves the whole Redmoor forwards somewhat? Quadruples the size of the exploration area into adjacent and proven areas - must be a positive thing. if/when funding is sourced for this project from whatever source, there is good scope for a very significant advance in sp - currently market values Redmoor at zero... with funding , that cannot possibly be the case can it ?
It definately puts SML in high standing in the locality
I see this as a precursor to a grant being awarded to CRL or even, although I think it might be too early yet, a JV partner...
Just thinking of workshy willy letting miners dig up the Duchy for money instead of building houses for the homeless. The greedy always put money first I suppose
...is good news, but I can see this needing more cash than what Cobre can provide, now if SML had a copper mine to help fund aswell...cumon that's the news we all want
Really, read the Cobre RNS...
That’s the reality
What a surprise?
I guess the PEPR is subject to a bond that SML just don't have until they have a JV. So until then no movement.
The market / mm’s appear to have accepted a baseline Mcap of circa £4.5m for the one active operating asset (Cobre). It’s likely that the market is assigning no value is currently to the other two projects.
As we’ve learned from experience here, nothing happens quickly - LCCM was over 12 months to get the first PEPR approved and now we’re again over 15 months in on seeking approval for the second ‘copy and paste’ (important PEPR) which may or may not be approved. We’ve also had multiple suitors in our ‘data room’ over the last 3 or 4 years; all of whom have seemingly walked away?? If we sell it or if we get a partner with working capital to get it up and running then the market may assign a value on that project and it could be written into the balance sheet as an asset.
Now Redmoor is the interesting project, which again has stalled over the couple of years; but this could be the saving grace for SML.
Circa 20m tonnes at 1%+ grade is certainly feasible. However, once again we think? we are awaiting grant match funding and have other partners interested, but again this is unclear due to lack of concrete / specific detailed communication. Anyway, a positive spin / funding or JV proposal could provide some decent SP traction.
So Cobre only maybe SP of 0.30p
Cobre + sale or JV at LCCM maybe an SP of circa 0.60p
Cobre + LCCM + Redmoor then maybe an SP above 1p.
However, we’ve had multiple deadlines / promises missed over the last 5 years and importantly we’re not now seeing the market / investors scrambling to get in at 0.25p for a 4 bagger, so what does that tell us??
Anyway, all of the above is my opinion only, I’m sure you’ll have your own thoughts on the matter.
DYOR Good luck - 2024 maybe?
I guess JP is relieved that we didn't go bust even after all the years of under pinning by Cobre finance. Result!. bonuses all round!
Has JP done it again-building up expectation to ultimately deliver very little or nothing?
Most of the CEOs of small caps would make excellent politicians
You will find any optimism you had wanes a little after a while.
I know this from waiting nearly 15 months for an update on our copy and paste PEPR.
Less than two weeks left in Q1. Update please JP.
Brigglet, I’m with you on the positive sentiment on this one - this time. In the meantime, here’s a site that may interest you - https://www.diggersndealers.com.au/
Tend to agree, especially as it's on finance and will be paid by revenues from Cobre....
I just like diggers, Prop. Put this share to the back of my mind after the sub-optimal turn of events over the past few years. Have a feeling things may be turning a corner now. Been wrong before, though.
Brigglet, It’s been a long time coming for your comment.
How would Mustang’s news affect SML’’s share-price?
Could it be the aquisition over at Mustang? deep pockets all of a sudden after 3 years?
Never seen the delivery of a digger knock a share price so much
Someone has to take the mantle ;-)
You have turned into Bitcoin
Blue