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Why push it so hard when these facts are clear - they will need to raise again.
and before anyone shoots me down.... go to the balance sheet. It says Income Tax Payable of $492k, that's in the current liabilities which means they are liabilities that have to be paid within 12 months.
Morning Nickel.I think the tax @ $492k is for the LC increase in value of LC cos we bought it cheap.
The $492k is not payable until its sold.
I think another poster clarified this after contacting the BOD
Either way a raise does not put me off with these 2 assets.
Have you got another angle Nickel . I think you have only ever posted about the dreaded raise. If they don't how do you feel about SML are you a holder ?
Bitcoinbuyer - google or look up the meaning of current liabilities. They are liabilities that fall within 12 months, that's why SML have listed them as such. That's why i repeat they barely have the cash to cover them.
I will ask for clarity on this. Do you hold SML Nickel.
If not why do you comment on the board
Djryan - I didn't put the SML balance sheet together and it was signed off by auditors!!
So are you saying that SML are misleading the market when they say they have $492k in taxes that need to be settled within 12 months? They have those figures in the current liabilities, there's no debate around that i'm afraid. It's a big point because there's barely cash to settle them
Djryan - we both know that's not the case. SML and auditors are obligated to enclose what's payable within 12 months and that's why it's under current liabilities. If not, it would be under non current liabilities - those payments which can be paid in 12 months+. As for the call, thank you... i made it when the price was in the 2s. I can't disagree that they make some revenue but right now that's immaterial, they will need to raise again as they cannot fund any growth. It's all their in the balance sheet.
Raising can't be disastrous for sentiment, as we are below audited asset value. Let alone the addition of any sentiment.
Agree Dj about every stock having it's entry for risk but surely you want to back something that has some surplus cash to get things going. Unless SML put out an rns and say that "we and the auditors got it wrong" the balance sheet tells us that they need to settle a very large income tax bill. Therein lies the problem as per the headline to this post. If you don't have any surplus cash how can you invest for growth? They will need to do another discounted raise ahead and again that's why the share price isn't doing anything. The market knows the plight of this one.
So depressing , glass half empty Nickel.
How on earth does your wife put up with you ?
I bet you are an accountant , not an entrepreneur
A retired accountant with nothing to do but spread doom and gloom about shares you are not investing in .
You have made your point over the last week or 2 its boring now.
Could be a retired accountant with tourettes repeating the same old woffle .
A cracker of a post.
Bitcoin - great post lol. The facts are the facts though. When i called them as facts they were stated as opinions by all on here. Now that the balance sheet has been magnified for what it is at least shareholders can make a more informed decision on buying and selling SML stock. I put it to you , wouldn't you rather own a stock that won't need to do a discounted placing again? And HAPPY Wednesday lol
remind me why you are here Nickel??? shareholder in SML or sad case with ave to grind???
Bitcoin - the other thing for consideration, the post of yours is very humorous (i actually recommended lol) but making things personal doesn't enhance the buy case or indeed clarify why SML is not the position I have stated. You were going to email SML and I'm assuming didn't get a response or like it.
Nickel I hold no malice, more sarcastic than personel
A bit like walking in the pub for an early doors pint and clocking the same guy whose been there since lunch every day of the week spouting the same old dribble. You walk on by Nickel sureley .....
Do you drink before you post ? lol :)
I did email SML for clarity of the $.83m provision , not had a reply as yet but with the timeline did not expect an immediate one.
We are all over 21 here and nothing ventured nothing gained.
My gut feeling is all long term holders will do well .
All the best to the long term holders !
Bitcoin - its only not dribble though if it's not ramping right? :)
What I have said is a very valid point that no one else had picked up on until i mentioned it. Without surplus cash SML can achieve very little
We have the project 100% paid for Fira. Presumably offer terms accordingly.
your point accepted Nickel, Sorry if you feel I was getting at you. Banter is my way of a gentle wind up .
JP stated on Proactive Cobre keeps the lights on and pays ongoing expenses which I assume is tax etc.
A raise will only be considered to move the projects forward which to me is the way forward.
We need increased income to move forward as we are a little stagnant to date as most of the world with the dreaded covid.
I have emailed again this morning to chase up the and gain clarity on the $.83 provision.
I agree that a discounted raise would be disaster to pay the tax only.
As previously stated to be sitting on 2 fully paid for resource licences is a good place to be as long as we are moving forward
with them as best the climate and covid allow.
We cannot help delays from the powers to be @ LC and this was always a starter B4 Redmoor.
We are expecting news , lets see what we get.
The share price reflects where we are and I think the big holders Manners family and the BOD and the guys in this for a while will agree the current price is a pretty dyer consequence of relying on a single income stream and 1 buyer to base forward projections and expansions on.
Most Aim Miner do only raise for drills etc as they have no income so not all bad.
Aim is a gamble , we have so much more upside than when we were 2p without LC and Redmoor.
Batteries are the way forward . UK needs to step up and move projects like redmoor forward .
Auz copper is destined for China and is increasing in price.
We don't have a crystal ball but all I know is investing big at this price has big upside if it starts an upward trajectory.
Hi Again Nickel,
Just opened an email reply from John Peters himself . 6.30 pm in AUZ
'I can confirm that all of the tax liabilities have been met and that the cash balance in the quarter update as usual
around Mid October
Yes we did have a backlog that we used to minimise the June raise and due to covid we were able to spread this over a
longer period
Doesn't want an RNS but feel free to quote that the company has confirmed all tax liabilities are paid'
What are your thoughts Nickel, are you going to sweep up some of those cheap shares available today ?
Bitcoin - thanks for sharing. I think that's what you call a mic drop moment haha
Of Nickel were so damned confident in what he thought he knew about the company and its liabilities, why didn’t he possess the cojones to raise it with JP himself, rather than relying on bitcoin? No doubt he’ll needlessly excoriate another supposedly negative aspect.
‘If’ not ‘of’
Someone let me know when Nickel comes back and apologises!!
Blacksheep, Have you filtered him?
Yes Prop, although I do occasionally find myself seeing messages from filtered people when my phone doesn’t stay logged in! He’s been spreading misery on other boards I look at to!