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Gorsuch, A multi-debagger or a multi-deflator?
Dilution of 1.2bn shares to 2.1bn shares doesn’t look or sound much different, but when you break it down to an extra 900 million more shares been issued, then ask the question what have they actually achieved, apart from lowering the share price to make it look like a multi bagger in reverse.
Bitcoin: Those highs were 4 and a half years ago and your "little" dilution of 1.2bn shares to 2.1bn shares. I don't call just about 50% dilution "little". You should be asking where that money (a pretty easy calculation) went and how we can call ourselves "A profitable producing mineral company".
I also had the thought that a TUN JV or buyout of Redmoor might be something they fancy. Not sure they would be interested in the LCCM/MOL prospect - but a buyout of Redmoor would give SML the cash they need to get LCCM up and running. With all the money spent on LCCM surely it will work this time.
Nobody more than me - or other LTH's want this BOD to get the PEPR and finance for LCCM sorted - and get some cashflow from that project to provide returns for shareholders and to develop Cornwall.
I am seriously worried they are arranging the finance with Brenda.
Bitcoinbuyer
I agree with you in your observations up to a point. Having heard both MT and PW/BG put their cases forward I know I would back the former rather than the latter. That is not to say I would not back SML but probably not to the same degree.
I misunderstood your 7.55am comment initially thinking TUN had taken a holding in SML, but clearly that was not your intention.
Not only has TUN' IPO demonstrated an institutional appetite, it has also opened up the possibility of a Joint Venture over Redmoor, or a sale of Redmoor, or indeed a buyout of SML. For the time being though I suspect TUN will wish to be seen to perform on its intention of bringing back Hemerdon into production ASAP. Thereafter, who knows?
What I mean by the TUN comparison is .... If Tun can raise through an oversubscribed listing with institutional backing
SML can do it with Redmoor alone....
There is an appetite for Cornwall mining and strategic metals especially with ESG concerns....
Again watch this space.... REDMOOR is gonna move forward before you know it....
ATB DYOR... My opinion only....
TR 1 Major holdings @ Investigate company news 7 am today VAluation it is....
Still the same sh*tshow on repeat here. These clowns pretending to run a business need to just go. I could achieve more with a bunch of interns running the show. Absolutely farcical. Begging bowls out again, must have run up too many expenses to pay their overinflated salaries. ****wombles.
Just sell Redmoor to Mr Thompson, of TungstenWest, and watch and learn how a competent, investor-friendly mining expert increases value for shareholders - I’m sure he’s already researched SML, and horrified at the disproportionately high remunerations of the BoD, not to mention their failure to monetise LC despite owning it for nigh-on five years.
And spare funding capacity, too, non?
the learner
Agreed, when I read Bitcoiners post I inferred that Tungsten West had a stake in SML, which would be very exciting news indeed. However the stake referred to and the TR1, is that of Schroders in TW - as you say nothing to do with SML.
TW have attracted Schroders, Orion, Lansdowne and AXA as well as a smaller holding by Eden Rock.
Trying to find relevance to SML with Redmoor 20 miles away, TW does have spare processing capacity, so a deal over Redmoor may be possible in the future.
It was on the Company website after the placing. Schroders were one of the key investors during the placing. The shareholding does not appear to have changed.
See
https://www.tungstenwest.com/significant-shareholders
https://www.tungstenwest.com/regulatory-news
Schroders have 9% of Tungsten West - declaring after placing? Nothing to do with SML as far as I can see.
Bitcoinbuyer Today 7.55am "Tungsten Wrst have a major holdings TR 1 "
Where did you find that information? please would you supply a link? I have looked through the LSE listing of announcements going back to 1/1/2016 and have not found a TR1 involving Tungsten West.