Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Haha polio, its £7,800 NOT £78,000. Get real!
02-Feb-24 11:21:25 0.195 4,000,000 Unknown* 0.10 0.20 7,800
Nice!!! somebody knows something?
Full ask paid
Years ago, good news from Cobre usually meant a higher SP, the market has already shown what it thinks.
In the past, where has any positive Cobre income gone? I don't doubt our Bod are happy.
We need confirmation that the increased income has started and what will be happening with the generated income.
We will see more interest here I am sure
"Shipments against this order commenced on 16 January 2024 with bi-monthly billing terms and 15-day payment arrangements."
If we get notice of the first payment in a couple of weeks, things may actually start to pick up. Once people have evidence that this is actually happening and is not the usual spin.
I think the MM's are pay attention and slowly lifting the ask.
Very much so. The new income will not be held onto. It will be spent.
I think it's a case of when the money is in the box....
Surely this is going to see some action soon!
Ref Oxford dictionary - bi-weekly (adjective)
done, produced, or occurring every two weeks or twice a week:
LOL twice a week now.... nice
So that’s bi-weekly then not bi-monthly. Why cant the BOD say what they mean mean what they say?
Just wanted to draw a line under this one. Have asked PW directly and we are billing twice a month.
The return of the major Cobre client will have bought the BoD a little more time here and take the focus away from the lack of progress at both Redmoor and LCCM. More pay cheques for JP (and maybe a little bonus this year too lol)
25 Jan 2018 RNS regarding our LCCM 'asset' ('early cashflow' lol). We should be celebrating the 6th anniversary tomorrow of this momentous purchase! What have we produced in 6 years!?
Highlights
· Binding contracts exchanged subject to conditions precedent
· Final settlement expected in approximately one month
· 24,900 tonnes of JORC compliant resource copper metal acquired
· Offtake Agreement for 100 per cent of production is part of conditions precedent
· Outlook for copper prices very strong, with current prices at or near 12 month highs
The Board believes the Project represents a near-term, low-capex copper production opportunity with the potential for early cash flow generation. Additionally, the Project will allow the Company to significantly expand its current resource base
Great thanks , any others ?
Colline, i picked up something different from the interview, the missing customer has signed a contract for 30k tonnes across the year and the new customer has already started to take magnetite but is not yet under any contract, pay as you go if you will.
So i would expect your upper estimation to be the closest.
Also I would add that the BoD's have taken bonus's and money when times were better, the last bonus was agreed but not paid prior to brendagate, yes they could have refused it but unlikely.
They did also set options that in my mind were lofty & greedy but had they been hit i dont think anyone would have complained, clearly they never got these which demonstrates they didnt see the bad clouds closing in.
I hope this is a turnaround for both the company and BoD's....
It says the commencement date in the RNS - 16/01 started. Bi-monthly billing is not unambiguous - bi-monthly normally means every two months ( which i suspect is what is meant here ) , but it can also be used to mean twice a month. Once invoice is issued, the customer has apparently agreed to pay within 15 days. so in summary , if the deliveries started shipping in mid Jan, then the billing should occur around mid March, and be paid around end of March (and every two months thereafter) . Should be around $325,000 every 2 months - assuming 2,500 tons per month @$65 per ton. This is on top of the sales made without this client, which had been running in 2023 at around $260,000 per every 2 months,so sales could be as high as $500 or $600 every 2 months ie say $3.3mm per year.Not sure what the margin/cost is , but assume operating profit is 60% of sales , would suggest Cobre delivers between $1.75mm and $2.0mm to SML. If the other new client materialises , this could easily become say $3.0mm per year . Cost of SML ( listing/nomad/auditors etc and of course our BOD) is perhaps $1mm per year , so its easy to see how this is a profitable company. HOWEVER the key is making sure that the surplus is used to advance Redmoor - and not to pay the BOD bonuses!! If we do that succesfully, this company could be really rather interesting . However the BOD have been in place since 2015, have owned a stake in Redmoor since 2016, have paid themselves in excess of $4mm in that time ( based on annual reports) and really havent moved forward sufficiently. Can a leopard change its spots? I dont know!
I am excited!
My apologies I completely miss read the detail.
I wonder from what date the shipments restarted?
Barno 61 we don’t get paid every 15days we get paid within 15days of the invoice, which is every 2 months.
I always feel them small either low or high trades are the MM's sending messages to each other, might be a conspiracy theory, but if you were to send a message you would want it to stick out....
in any case that trade is nothing to be concerned about
A .60p trade takes the share price down to .12p.
Only very light trading again today with the chart heading south.
With news on 15 day payments for shipments already send and sold surely the price in no way reflects the company position.
With the investors’ longed-for resignation of Alan Broome, the share would multi-bag.
Lol @Prop, no. 6, heck i would buy some more if no.6 comes home.....
v happy to chat. i have 30 m shares (split over a couple of isas/jisas).
my email is mineinvest********** (mineinvest at yahoo dot com)