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Thanks Lupidog, 'ambiguous' and 'opaque' come to mind but happy to await the outcome of ongoing PEPR discussions/negotiations. Investment at a sub £10M mcap has limited downside imo given the potential value of LCCM and the ever rising copper prices. Cobre income looks secure for the foreseeable future and we still own Redmoor which may attract potential JV partners further down the road. End of Q2 is only a matter of a few weeks away so not long to wait to see if the BoD is going to deliver to timetable or we miss another deadline. Finely balanced imo...
DVH you beat me to the live copper price, but I don't mind as it is all adding to our top end. My own opinion, based on my homework is that we are nearing the climax of a perfect storm. I have been both correct and incorrect in the past. I don't even think LCCM is even taken into account on our valuation as the pre and post purchase macp seems to back this up. You have to look critically at the present and the future, because the past has already happened and if people focus on that they may miss today's and future opportunities. Onwards and upwards.
Does the below help you? It appears that SML have responded in draft and that we are waiting for confirmation that the responses are adequate. In my experience, it is normal in business to thrash out contracts in draft so that on formal submission, it is just a box signing exercise. The RNS appears correct that we have responded in full.
"Could you please let me know if you are awaiting further information or if SARIG is not up to date to clear up my misunderstanding between SARIG and the Companies News releases"
"Thank you for your query regarding the status of the MPEPR2020/032 - Leigh Creek Copper (Mt of Light) Mine.
Strategic Minerals have provided updated documents/reports in response to the government’s request for further information. These documents are in draft format and are currently being revised by the government for adequacy, with the formal MPEPER 2020/032 submission to follow.
SARIG will be updated once the formal PEPR submission is received.
If you need more information, I would suggest you contact the company’s Board directly."
In case folks were wondering what skills our BoD bring to the party, our Chairman told us last year after the AGM. Who can seriously doubt their ability to get the LCCM PEPR and start up funding with the range and quality of experience & expertise of the team?! Q4 production & cashflow looks nailed on.....
https://www.proactiveinvestors.co.uk/companies/news/925240/
Thanks for that information gorsuch. I have written to JP asking for clarification of dates information was submitted, whether any remains outstanding and how that relates to the RNS release on 31 March. Don't expect any response but it will form part of a growing number of issues that can be raised at the AGM. Noticed that copper now at $10,361 and showing no signs of stopping. If our BoD can't deliver when the external environment is so positive they ought to be sacked!
That's why I said last chance saloon for the BoD....
Don't forget DVH, that was released on the 31st March, yet they did not complete the information submission until the 8th of April, I was sent an email on the 6th April stating that the Govt had received "some" paperwork, but they were waiting for the rest of it, so I wouldn't put much faith in the Nomad.
Sounds imminent , now where have I heard that before :)))
31 March RNS extract. This statement would have had to be signed off by the Nomad...
"It is the Board's view that this is likely to be the final submission required for approval and that this is likely to occur in the second quarter of 2021.
"Subject to receipt of the PEPR approval and funding, the Company expects to commence mobilisation and mining in the third quarter of 2021 with revenue commencing in the last quarter of 2021."
The pepr does concern me... Why the delay... 6 months is not admin...
There must be a problem to solve....
If it does not get granted.... it would be a disaster .....
If LCCM production this year was a certainty we wouldn't be trading with an mcap of £9M (more like £20M+ imo). If/when the PEPR is awarded the SP will re rate anyway so there won't be any 'cheap' shares to buy...
A compelling outcome if all goes to plan....
Morning bitcoin, last chance saloon for the BoD imo. Recent surge in copper prices should make LCCM finances look particularly attractive to a potential JV partner (if that is the route to secure the start up funding) and I like the idea of TWO sources of cashflow which is pretty unique for an AIM company. Then there is Redmoor....
I suppose the smart money is going to have a punt on the PER landing here....
Please can someone confirm the JP long stay date..was it end of 2nd quarter ? End of September...
Then we have the finance.... to get moving.....
My money is on a separate ASX listing for 60% SML retaining 40%
I think traditional finance is a bit of a burden and could well go on bonus's... as reward for the PEPR :))
I also think the BOD need to prove the copper is economical to extract....
A lot info about the Laverton area state its not .
No PEPR big long snake back to .30 to .35p... PEPR lands.... big ladder to .70p
Finance solution solved..... big ladder to 1p .... Listing cap raise back down to .50p
In production .... 1.20 to 1.5p....Big ladder....
Not reaching estimated sales .... as leach pads no good for this extraction... Big snake.... .80p
Good Redmoor news 2p big ladder....
5p win the game if we get LCCM and Redmoor into production in 3 years and a big hitter bulk buying again @ Cobre
I only hold 3m shares now and was going to buy another 7m more until it ticked up.
Sitting on the fence waiting for an entry of .42p...
The all we need to do is throw the dice and keep hitting the ladders...
If a share needs a run of luck its SML....
The only dilemma I have is .... Can I make more elsewhere ..... Some bargains about....I you are nimble and move quick !
All the best