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Started: Pinguser5, 23 May 2024 22:34
Last post: Pinguser5, 23 May 2024 22:34
Let's face it...the current BOD have presided over a shocking share price performance over many years which is directly related to their judgement & actions. Despite all of the RNS's & interviews nothing has actually materialised & the market has acted accordingly.
SML has just become a typical AIM business, producing very little progress & promising for better things tomorrow.
Share price is progressed through actions not words. Investors have been more than patient so please Broome, Peters & the rest please get off your back sides & either move on or deliver something. It isn't as if you've been short of time!!!
Started: Lupidog, 22 May 2024 15:39
Last post: SuperheroSam, 23 May 2024 20:57
"hopeful"
Now there's a reason to invest.
There was a ramper spike here some years ago based on what? We may have rare earth's?
So apart from that, this is based on forward looking statements in rns over the years
That have not materialized, over how many years
Its difficult not to call this a lifestyler
I think "recapping" is helpful. These are company news releases. These are the statements by the Board of Directors about the company, its health and intentions. Recapping shows exactly what we were told versus reality, giving a historical context. It reminds us of why we invested and why we are where we are today. If we are not given the expected updates "Accordingly, the Company is hopeful it can deliver positive news on both projects during Q1 2024" (LCCM), we can see it is business as usual and have to "chat amongst ourselves".
Most of us know the back story to where we are now, im not sure recapping is helpful.
We have had many discussions about trying to get a group of share holders together to do something meaningful, yet last time, it was only me, prop and fira that actually stood up, we should either do something or let the BoD carry on, middle ground is only self inflicted pain.
That RNS reads like it was written by someone high on cocaine, that's trying to describe their biggest fantasy.
Amazing how far we have progressed in 4 and a half years. People reading that RNS (22 Nov 2019 07:00
RNS Number : 2908U) could be forgiven for investing. An interesting read or recap for those who invested on it. The question is should the BoD be angry at the shareholders or should the shareholders be angry with the BoD? I guess that is down to the individual.
Started: Propinquity, 22 May 2024 11:51
Last post: Propinquity, 22 May 2024 11:52
While I am sure that all holders appreciate the continual analyses and reanalyses of drill-cores, soil samples - and how the air quality and the stars’ alignments affect selecting the next drilling spots - that increase knowledge on the quantity of metals and therefore uplift the resource, the fundamental share-price accelerator still eludes our BoD: funding to monetise Redmoor. Judging by the soporific reaction to this year’s positive news, Mr Market seems confident that the BoD will yet again fail to deliver on their early-year announcements on big news on Redmoor and LC.
Started: Sammybow, 22 May 2024 11:33
Last post: Sammybow, 22 May 2024 11:33
Back slapping and 1p or closed doors and 0.1p??
Watching the cnbc ticker,can be boring tho prop.
you get a bit of everything on it.
currently,sou is back on the trading range low,so could be bottoming atm....before the repetive bounce...(swing traders only.lol)and its still red as heck
Cheers, Tro.
A lot of the small cap resource shares are getting on investors radars atm. Metals prices really buoyant...
Prop
its a free biz channel on sky/virging/freesat and a few others.
no idea if you can get those channels on the internet.
at the bottom of the screen is a moving ticker,that goes on volume,so high vol comps,appear mostly.......but sml as been red on cnbc for a few weeks and today,it went blue,suggesting the end,of the recent pullback.
mast....went blue about 30 minutes ago
kefi.....its almost blue,every day,just recently.
clon went red about an hour ago.
msmn is going blue as i post....so it'll be due a tick up
Have you the CNBC link, Tro?
Last year was on 18July , so presumably around then ….
Its the time of year AB sits in front of the screen telling up how under valued the company is and how we're going to be worth $billions! lol. Copper motoring ahead again today, now $10,600. If only we had some to sell....
E-mail Alan Broome: it’s his favourite time of the year.
Anyone know when the AGM is ?
Started: Ilovesushi, 17 May 2024 16:32
Last post: Ilovesushi, 17 May 2024 16:32
Unrestricted cash at 30 June 2023 was US$129,000. With sales just covering costs they must be operating on air. Add a bit for warrant's Expect a placing to fill the gap. It is said this is a profitable business yet cash seems like it has run out. Got to be a placing to get cash for wages and working capital. Not a great business here. Its going to collapse at some point. Forget this nonsense about Cornwall. They will never find the funding. Just geologists playing with rocks for a hobby. No viable business here with monetisation a million miles away. This needs to sell shares to keep running. avoid
Started: Ilovesushi, 17 May 2024 16:25
Last post: Ilovesushi, 17 May 2024 16:25
It needs more funding. Now where will that come from? Placing for sure. Again. Wipe out for LTH
Started: Beppie, 17 May 2024 14:25
Last post: Lupidog, 17 May 2024 16:02
Surely the Bond would have come under the planning of the project before purchase.
Depends on what the MM's are holding, it will have to at some point.
Whilst it might have been shovel ready, the bond for land management was not something SML had available, hence the need to JV
When will the laws of supply and demand kick in ?
Bought 7,524,161
Sold 1,125,000
SP -12.50%
Started: Criticalminerals, 17 May 2024 15:30
Last post: dvharrison, 17 May 2024 15:32
Lets hope not, at this level the dilution would be very painful for LTHs!
Looks that way
Is back over $10k. Come on BoD either make a deal or make an exit. If you can't do it now, it will never be done.
Started: casparfrederick, 13 May 2024 11:13
Last post: dvharrison, 14 May 2024 11:23
You may be right in that JP is extremely greedy as evidenced by the totally unjustified 'bonus' a while back. He'll be kicking and screaming as we pull his snout out of the trough....
See thats where i disagree, with around/over 50mil in shares for JP and PW I think they will be looking to grow the share price then cash out. rule no. 1 of a greedy person, dont leave money on the table.
The BoD will make sure they bleed the company dry before it is wound up. Cobre money for another couple of years. Progress on monitising the assets? Nah....
No cash. Will it get another fundraise away and get some daft lot to support a placing? At a huge discount. could be the last one. Eventually this will end in administration and be delisted. 0.1 next price then 0.05. Then lights out as no one wants to continue to buy the shares and support this company any longer. It has zero prospects and Cornwall resources is a drain it cannot afford. avoid
Caspar, If only I had - thanks for the downheartening reminder.
Started: bitcoinbuyer, 10 May 2024 08:45
Last post: dvharrison, 10 May 2024 14:12
Interesting how JP now completely avoids interviews/scrutiny (except when reading from a pre prepared script!). Gone are the days of tsunami of cash, Redmoor juggernaut etc and the big cheesy grin. I remember talking to a chap at an AGM (I forget the year, but pre Covid) who told me he had sold all his shares that day at 3.6p as there was little substance supporting that level of SP. if only I had listened....lol
Financing, we're still in the dark about this. From the RNS "The Company is focused on utilising its operating cash flows, along with "capital raisings," to develop high quality projects aimed at supplying the metals and minerals likely to be highly demanded in the future." This time last year, there wasn't the operating cash flow in place at this level, so what were they focusing on then? We have high quality projects but where is the development of them, we've had 8 years to do something and better cash flow than 2023? These minerals are in high demand now, we just haven't done anything about it. If LCCM was marginally profitable for the previous owner, surely it would be profitable now due to changes in copper prices. What have we been told by our bod about anything?
Stated in the RNS, "Since June 2020, the Company has been a 100% owner of Cornwall Resources Limited (CRL) having been involved in the project since early 2016. How has it gone in the last 8 years. I look in on ticker CUSN, the difference between them and us is staggering! I doubt we will get a grant, we need someone to come in and do the job our bod, we're still in the starting stage on the road to production, after all this time.
LCCM. In the RNS, " In late June 2022, an updated PEPR, addressing the conditions associated with the July 2021 approval, was approved." Two years since then, what happened? What have our bod told us?
Historically, Increase Cobre production news has lifted the SP by 1p+, I suspect our bod expected movement like this again. The next best card was to announce increased "resource upside", then do a raise at a higher SP. The market knows our bod and has responded accordingly.
Is this it for the rest of the year. Some communication with facts would be nice!
We don't need to mine. We need to get to "Measured Mineral Rescource" rather than "Inferred Mineral Rescource". Then if economically viable we can sell or fund or JV.
We should get to a point soon where the BoD will either prove many of us wrong and state that we have a PEPR and funding for LCCM, given the high copper price. Or they should have the balls to say "we made the mistake many of you thought this was" and mothball or sell the money pit. The focus and Cobre money could then turn to CRL.
LCCM is the gift that keeps on taking and 6 years is more than enough time to enough. Put up or shut down.
The RNS looks more like an advert. Look how busy we are.....
Absolutely, couldnt agree more, there just isn't any money on the scale that is needed to get these sites mining.
Started: dvharrison, 9 May 2024 07:22
Last post: Propinquity, 9 May 2024 17:35
Spinning Redmoor and LC for another year - then inform us next year that the JVs will be ready within the first half of 2025.
Looks like the Market has given its response. It will only accept results, not spin.
Where’s the grant? Wait for another year? Gosh, our councils are incompetence personified.
Or those that have rejoined Lupi!
We don't expect revenues from Redmoor assets any time soon, but positive upgrades can only help the partnering situation, which would immediately bring a Boom to the SP...
All we need now is a competent BoD to get the thing done. But don't hold your breath!
Started: Propinquity, 9 May 2024 13:31
Last post: Propinquity, 9 May 2024 13:31
Started: Ilovesushi, 9 May 2024 09:47
Last post: dvharrison, 9 May 2024 10:49
12 Apr 24 RNS: No cash required until the autumn? BoD will still need paying at some stage!
Cash Management and Issue of Warrants
Given the substantial reduction in sales during 2023, the Company maintained operations, including project development, through creditor management and from the Board's election to take substantially lower cash payments.
Considering future sales volumes, and the Company's historical creditor balances, the Company has augmented its previous AUD $100,000 short-term financing facilities, from an individual investor, with a further six-month AUD $50,000 funding, from another individual investor. This funding is at an interest rate of 12% per annum and has attached 10,000,000 warrants, which have the same warrant terms as those previously agreed (exercise price 0.5p and maturity 31 December 2025). Again, these unsecured loans have been undertaken through the Company's 100% owned subsidiary Ebony Iron Pty Ltd.
The additional 10,000,000 warrants, over new ordinary shares of 0.1 pence each in the Company with an exercise price of 0.5p maturing 31 December 2025, have now been issued (along with those previously notified to the market on 8 February 2024). No funds raised under these facilities will be applied to balances outstanding to the Directors or CFO and, currently, it is not envisaged that additional short-term funding will be required.
Whilst i am underwhelmed I DONT see a placing in the near term
Seen these type of RNS all the time. It pulls in punters all the time, them not realising who it is that fundraise these kind of things. Very easy to get geologists to play with stone and pay them. The poor Punter will never see a return but guaranteed hundreds and hundreds of placing and total wipe out.
AVOID
Started: Slurm, 8 May 2024 12:36
Last post: Lupidog, 8 May 2024 12:51
We have a years worth of Oxide out of the ground. We have a PEPR to process it. We are shovel ready. Sounds like a good investment. I wonder who would invest on positive news like that. When it doesnt happen.... well, just don't be a heretic about it.
Https://www.thestreet.com/technology/is-copper-the-new-gold
shame SML cant get it out of the ground......
I think the BoD knows exactly what it is doing, otherwise it would be incompetent. Therefore the only reasonable understandingmust be that most things are happening by design. How long can you drag out a meal ticket?
We'd need a BoD that knows what it is doing to get one of those updates!
...I might come in this forum and find and RNS with something interesting or informative!
Started: Slurm, 30 Apr 2024 18:37
Last post: SuperheroSam, 2 May 2024 10:01
I did read Ford lost $1300000 for every ev they sold
They're the future you know, like curved TV's
Although not hit its early 2022 highs its up 23% for the year and as the others shows no sign of slowing down its rise (unlike the EV market, which by all accounts has gone to SH**, lol)
Again cumon JP, wheres the finance deals that your expertise should be landing.....
Started: Propinquity, 1 May 2024 20:27
Last post: Propinquity, 1 May 2024 20:27
Started: Slurm, 30 Apr 2024 15:20
Last post: dvharrison, 1 May 2024 14:56
And as for Alan Broome.....don't get me started!
'Releasing doesn't sound like selling. Even though we purchased.'
Lupidog, nothing surprises me with these clueless idiots (supposedly) leading the company. Utter morons....
Could SML release some info on how given all the minerals high levels there is still no indication of movement. And yes i would vote for Alan's removal from SML's payroll
And could we release the pointless presence of Alan Broome from SML?
To be able to focus on the future we need to be able to understand the past. Could we release LCCM back to somone as well?
Started: dvharrison, 30 Apr 2024 08:08
Last post: Moneyman64, 30 Apr 2024 17:43
Like a lot of companies quoted on the AIM there is a lot of “bigging up of commodity assets” but a total inability to actually get them into production and provide returns to shareholders .
Based on the BoD’s misleading statements on LC since we bought it - I can’t even remember the year: it was that long ago - it would be safe to presume that they will conclude absolutely nothing on it, and that it will remain a never-ending project in our portfolio.
That's the problem with thinking rationally and taking what people say as reality.
Over the last month copper has gone up 11.7% near its all time highs and showing no sign of slowing down, last 24hr up 1.35% (at time of writing), stories all over of high copper demand, so if the BoD's cant make a deal here its over for LCCM.
Surely someone will want to secure some copper, it is there, assays dont lie, usually.
Well apart from that things are looking positive (lol), so much so even Alan Broome is thinking of buying some shares.....
Started: Propinquity, 30 Apr 2024 14:56
Last post: Propinquity, 30 Apr 2024 14:56
Started: Propinquity, 22 Apr 2024 10:51
Last post: dvharrison, 26 Apr 2024 12:39
I think most here recognise we were sold a pup with LCCM. Redmoor is very slow, almost non existant progress. Cobre keeps the lights on and pays our great BoDs remuneration!
A good story in bloomberg about the world needing more copper, just hope that can relate to some LCCM interest....
Its now or never, for fund raising that is.
A good summary to remind us of their buoyant quips on Leigh Creek, Lupi - and still we wait for the productive step for which we have been waiting since 2018. I wonder if any of their so-called negotiations with potential partners will ever materialise.
And yet we are the Heretics
"A heretic is someone whose beliefs or actions are considered wrong by most people, because they disagree with beliefs that are generally accepted"