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Most AIM companies don’t have positive income, such diversified assets and a BoD with so much invested... Fundamentals are still strong. Any company will experience bumps along the way. Good opportunity to top up. Still a great LT play.
I think that the market has placed a nil value on LCCM until it can be proven etc. The problem we have is that because of the lack of any update in the last 6 months, the PI’s don’t know the timescales and working capital requirements to get LCCM started to generate some decent ongoing monthly sales etc. The working capital might not be as much as we think. If all goes well and LCCM can sell 200+ tonnes of copper cement on an ongoing basis each month from 2020 then we should get a significant Mcap increase at that stage. Everything now hangs on Leigh Creek. GLA. DYOR - all in my own opinion.
Good post from Davidous earlier detailing the annual cash free profits at Cobre and the significant potential at LCCM. Recent history has shown us here that the SP was circa 2p when all was well at Cobre. However, since the problems with the major client, the perceived SP / MM’s value has been revised to around circa 1p. The ongoing uncertainty and lack of news / positive sentiment has now put the SP in a trading range of circa 0.5p to 0.8p.
Clearly Magnetite only has a limited demand in NM (for whatever reason) as we’ve been unable to generate any significant new customers. This would solve our current problems as if we could generate additional ongoing monthly sales it would provide the cash for the remainder of the Redmoor purchase and also the working capital requirements for LCCM. All in my own opinion. DYOR
SML Operates in some great jurisdiction - US, AUD , US BODs have plenty of skin in the game Huge upside if Macro Economic change. (US China Trade deal, Brexit, Electric Vehicles) Chart show we are very oversold so any positive news could see a decent rise.
Cobre alone is probably worth more than £5 - £10M imho. Cobre even now generates c.1m USD Free cash flow per year. This is based on current figures since the Loss of SMLs biggest Customer. You only need to scan the last 4 quarterly reports to deduce this much. And there is plenty more to shovel if SML can increase the customer base.
There may also be some legal redress in SMLs favour for breach of contract. Any predictions on this outcome would be highly speculative so it's best to just to layout the text from the RNS...
The claim consists of three elements, namely: 1) in excess of $2,300,000 in relation to payments outstanding to date; 2) in excess of $19,000,000 in relation to lost profits for the balance of the contract; and 3) punitive damages as permitted by law.
Leigh Creek update on 30th Sept RNS
"In 2020, the Company expects cash flow and profitability to improve dramatically, as full scale production commences at Leigh Creek Copper Mine."
This could generate c.$5 USD free cash flow per year if the figures in the presentations and Podcasts are any indication. That's a huge upside for such a small mcap. And if they reach the phase 1 target the operation will expand further.
Redmoor - Its all in the scoping study
The recently completed mining study, while still based on an Inferred Mineral Resource, provides SML confidence that a major portion of the recently announced resource of 11.7Mt at 1.17% SnEq can potentially be economically mined.
"Using the results of this study, SML believes it has confirmed its view that Redmoor has the potential to be a world class tin and tungsten mine which will deliver attractive returns on investment."
Probably about £2B in situ metal NPV c£100m - Valuation here will move with Market Sentiment and commodities but it has great potential.
$0.76m USD in the bank on 30th Sept I'll assume this includes the R&D grants in totalling 0.8M AUD (0.55MUSD)
Early Redmoor Payment of 0.3M AUD (0.2USD) and will draw on Q4 cash position
I disagree everyone is fixated with revenue from cobre , I prefer the look at the fact that Is all paid to line the pockets of the directors who to add support to the story top up their shareholding to enfuse a few , essentially giving back a small proportion of the money they should not be getting instead if religuishing thd money , likeky why no partner will touch us..
We are in a vulnerable position with money lent against future R+D money to avoid a placing. That is the fact of the matter , another slight of hand accounting trick.
0.7 million dollars at the end of sept is actually minus Redmoor payment straight after and minus R+D payment would of put us in the overdraft.
We are cashless spending money we haven’t received.
Funding to right the **** up of Leigh creek is needed in a bad environment on equity markets.
I will bet that by Christmas we have had a placing at 0.4 and will then get the Leigh creek plan and an update of the probs.
I hope I’m wrong but it feels very much like they have ****ed up on a mamoth scale are are hiding the truth.
Davidious, Nail on head - all about market psychology - the MMs' digitally incanting their bewitchingly negativus sentimentum spell over those who fail to recognise that this remains still a fundamentally good business. And, of course, the MMs' modus operandi is buttressed by posters like djryan, who childishly write rantings and ramblings, primarily because they overbought.