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I did read Ford lost $1300000 for every ev they sold
They're the future you know, like curved TV's
Https://www.mining.com/cornish-metals-uk-tin-project-worth-over-200-million/
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?
Tx DVH I was missing the last piece. Releasing doesn't sound like selling. Even though we purchased.
Lupi, any reference to CARE in the company reports is listed below....
13 Sep 2018 RNS: "Additional funding arising from this sale is likely to be applied to further drilling around Hanns Camp, notably at Hanns Camp South, which remains highly prospective for nickel sulphide mineralisation."
4 Dec 2018 RNS: "Further work by our geologists and our Nickel expert, Dr. Martin Gole, has highlighted three additional high priority areas for potential nickel sulphide mineralisation within our Hanns Camp tenements. The commencement of the EM Survey over the targets is a key step in the identification of drilling targets."
30 Sep 2019 RNS: Additionally, funding which was originally allocated for exploration of the Hanns Camp site, that has not proved as prospective for nickel sulphide as expected, has now been redirected towards the development of Leigh Creek.
2 Mar 2020 RNS:
CARE
In light of cash requirements associated with both the Leigh Creek and Redmoor projects, the Company has curtailed expenditure on the projects of Central Australian Rare Earths Pty Ltd ("CARE") and this is expected to be the case throughout 2020.
Options to increase shareholder value are currently being assessed.
20 June 2021 RNS:
Central Australia Rare Earth Pty Ltd ("CARE") Tenements
During 2020, the Company began the process of releasing its CARE tenements back to the Western Australian State government. This is now complete.
15 Sep 2020 07:00 RNS Number : 8855Y
"As a result of the inability to locate an economically feasible deposit on existing tenements, the exploration assets were fully written off in the 2019 financial year and the Company has begun winding up the subsidiary."
- and then nothing. So did we sell it or are we still sitting on it?
Mt Weld and Hanns Camp. We certainly bought 50% of CARE in 2016 and the other 50% in 2017. We then sold the Gold tenements to fund Hanns Camp. It may well have been written off, but what happened to it. We owned it. Did we sell it? Nothing in the RNS's as I can see. Just that we sold the Gold prospective tenements. We carried on for a while afterwards surveying the Cobalt and Nickle tenements.
"After an assessment of the carrying value of the CARE, the book value of the CARE assets have been fully impaired ($1.122m) as at 31 December 2019. CARE remains part of the board's strategic plans, as noted in the infographic below, but in the near to medium term it sits behind our other three key projects."
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.....
It was written off, it was a tax thing IMO as SML needed to reduce tax/costs on revenue/profit, honestly not sure where this all stands now.
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 .
This could be an interesting conversation.
Certain "non core " tenements of Hanns Camp were sold as we were not prospecting for the possible gold, back in H2 2018.
The Cobalt and Nickle Sulphide were not sold.
Do we have nickel - I thought we sold that tenement, years ago?
Up at 8 month highs, 0.5 % up today and 16% this month and continue to show an upward trend, although down even Iron is showing on an upward for a month at 8%.
How the hell can SML not get something over the line given the positive economic outlook for these metals.
JP care to enlighten us?????
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.....
Final results are coming ....
No material progress on LCCM to date
No material Progress on Redmoor to date
Increased sales at Cobre envisaged for the coming year.
asset finance taken out for Caterpillar plant
Pay day loan taken out @12% plus warrants
Pay day loan taken out at 20% plus warrants
Same BOD
Cash balances running on fumes....
Be interesting the final results wording..
How to polish a turd
FFS....
Will be nice to be proved wrong and would love to be... but if the last 7 years progress is a measure.....
I am better off putting the investment on Notting ham Forest to win the Champions league this coming year :)
ATB
Prices now at $10,121. If only we had a copper mine.....
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!