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Started: AIMwatcher55, 11 Jun 2024 08:26
Last post: dvharrison, 11 Jun 2024 14:37
Sammy, i got my average down by buying millions of shares as the SP dropped from previous highs. We now know (for certain!) that the BoD are useless and most of us are looking for an exit. I'm fortunate (to date) that I have offloaded a substantial number of shares on each of the last 3 spikes in SP and made a profit on each occasion! I now only have 13m shares remaining at an average of under 0.3p. As a matter of principle I won't sell at a loss and would rather just sit on my current shareholding. I have to say that I have learnt valuable lessons being an sml shareholder and about trading shares on AIM!!! Good Luck....
The content of those interviews is contrived to avoid the difficult questions on how to fund Redmoor. Best to view them sceptically until the BoD can articulate a timetable on how and when they can feasibly commercialise its value.
Sammy, The hype has not stopped at SML: they still publicly drool over Redmoor’s polymetallic resources - but without any understanding on how to monetise the area: they still await a Cornwall council grant and/or funding via a third party - without which, we continue with the jam-tomorrow approach, that of the last seven-plus years, yet starting from a significantly devalued share-price.
DVH - If your average is 0.30ish you might get an escape route at some point in the next few years. However, if like me you’re at 1p then the chances of that happening are extremely remote IMO. Worst investment decision I ever made in my lifetime to invest here!!
The BOD should hang their heads in shame….. Loads of hype a few years back and progress / delivery of anything material has been almost non existent. Communication is minimal and insulting tbh.
LCCM - Copy and paste PEPR submitted 18 months ago - update please.
Redmoor - Grant application submitted (we think) decision will be when??? - update please.
Basically nothing much has happened here for years!
The latest YouTube video….. ???
Told us nothing really.
The big boys will continue to mine in remote and third world nations because it’s more lucrative - less red tape and cheaper mining costs. They’ll do this for decades until all the resources are exhausted before moving to Western Europe or the UK.
Who knows, Redmoor might become a very valuable asset at some point in the future, but this might be in 30 - 50 years time and I can’t wait that long!! JP told us that Redmoor would be operating by 2022.
There have been a few unexpected spikes in SP elsewhere on AIM recently for little or no reason. Let's hope we get a turn soon and those that want to can 'escape'!
Started: Sammybow, 11 Jun 2024 14:09
Last post: Sammybow, 11 Jun 2024 14:09
There’s little doubt that the Redmoor resource is bigger than the current estimate and maybe there might be 20m tonnes of metals or more and the project might have a NPV of £200m or more, but ….
Is there an appetite for mining in the ok in the 21st Century and……
Why Would a major player take this on when they can mine in remote (often third world countries) at a lower cost and make a higher profit.
Redmoor might come good one day when resources around the world are depleted, but it could be decades away.
Started: dvharrison, 11 Jun 2024 08:23
Last post: Propinquity, 11 Jun 2024 11:54
Anyone else noticed the deafening silence on the perma-imminent - a term equally applicable to an LC partnership for funding - Cornwall council grant for Redmoor? Based on SML’s self-imposed media-muzzling on said topic, investors might intuit it as a failure: perhaps the application has been thrown down a mine-shaft - and buried, never to resurface.
I presume you’re talking about another share.
Holding up really well atm in anticipation of the BoD delivering transformational news. Well we can all dream of a spike in the share price to bring this nightmare to a close.....
Last post: ShangrLa, 8 Jun 2024 11:08
The Chairman shall chair all Board and general meetings of the Company. set the Company's values and standards and ensure that its obligations to its shareholders and others are understood and met
Started: AIMwatcher55, 5 Jun 2024 10:43
Last post: Slurm, 7 Jun 2024 15:16
@dvh i have a very small position there compared to here, i dont check it much tbh and have no clue what is happening now.
Yes slurm, years of disappointment there as well as here!
The previous list are his current positions.
In the past Alan John Broome occupied the following positions:
Non-Executive Chairman of Walkabout Resources Ltd.
Chairman of Buccaneer Energy Ltd.
Chairman for Acumine Pty Ltd.
Non-Executive Chairman for Jatcorp Ltd.
Chairman at Carbonxt Group Ltd.
Managing Director at Australian Coal Industry Research Laboratory.
Deputy Chairman & Chief Executive Officer at Heavy Engineering & Infrastructure Action Agenda.
Chairman for Waratah Engineering Pty Ltd.
Non-Executive Chairman at Endocoal Ltd.
Managing Director at Ampcontrol Pty Ltd.
Interesting find - no wonder he pops his head over the parapet about once a year. How could anyone possibly be productive at work while involved in twenty-two companies (presuming all positions remain active, of course),
Don't go knocking my mate Alan he is a very busy lad, although not at SML.
Alan John Broome is an Australian business person who founded Mustang Energy Plc and who has been at the head of 22 different companies. Currently, he occupies the position of:
Non-Executive Chairman at New Age Exploration Ltd.
Independent Non-Executive Chairman at Strategic Minerals Plc.
Chairman of Inbye Mining Services Pty Ltd.
Chairman of Workpac Group Ltd.
Chairman for Crl Energy Ltd.
Chairman of NEPEAN Power Pty Ltd.
Independent Chairman for Ocean Guardian Holdings Ltd.
Non-Executive Chairman for Mustang Energy Plc.
Non-Executive Chairman for Critical Minerals Group Ltd.
Chairman at Amdel Ltd.
Chairman at Intellection Pty Ltd.
Non-Executive Chairman-Asia Pacific at Tait Ltd.
Member of Institute of Materials Minerals & Mining Ltd.
Member of Australasian Institute of Mining & Metallurgy.
Member of Institute of Directors in New Zealand Inc.
and on the board of 8 other companies.
Started: dvharrison, 6 Jun 2024 08:03
Last post: dvharrison, 6 Jun 2024 10:02
Another 'dog' that I have been invested in for a number of years looks like it might come good at last. If that is the case there must be hope for sml!
Next year, Rodders, next year…
Day closer to news on how we are going to monitise Redmoor and LCCM....
Started: Propinquity, 3 Jun 2024 09:46
Last post: SuperheroSam, 4 Jun 2024 09:50
We do seem like chickens scratching around in the dirt trying to find a grain of positivity
All the time, the gravy train rolls on
Prop.
Our chances in the grant application process are a complete unknown to me - sorry not to be able to add anything.
Slurm, We have indeed been patient beyond even its saintly manifestation. I’m miffed because JP specifically stated in the Jan 18th RNS that news would be divulged in Q1 on both Redmoor and LC - the news on expansion of the tenements with the Duchy could be categorised as big, but, in reality, not a market-mover: it’s all about funding - until it materialises, the company’s valuation will remain firmly in the doldrums.
With copper where it is and where some think it will be in a couple of years it would be hard to blame anything else....possibly $40k a tonne in a few years is what i have read.
Maybe this is all part of JP's plan, to wait for copper to 3/4x before starting anything, to of course get maximum value out of his asset, lol ok a bit far fetched...
I think im very patient in general but even I am now FFS get something, anything over the F'ng line, the board have accomplished visibly nothing, new customer/s at SMG was just like a customer walking into a shop, applying for grants/PEPR - nothing back.
They want to have delivered something by AGM or https://www.youtube.com/watch?v=hamKl-su8PE
Valuation, Agreed on the mining consolidation in the the SW of England.
What’s your opinion on the supposedly forthcoming grant from Cornwall council - do you think we have already lost it, or are subject to further hoops, hurdles, and double-checking by the council’s policy-wonks?
Last post: Propinquity, 3 Jun 2024 08:55
How would they be able to justify their jobs with LC out the way? Oh, wait, AB will flog SML something else which he has been unable to work.
If the bod were to sell LC, it give them much less room for spin.
Bod will dine out on LC for years to come
I would rather we just sell it to try and recoup what we have spent on it and move on. It has been a financial liability from moment we purchased it 6 years ago, when our mcap was £26m. Given our BoD's reluctance to admit to any mistake, they will probably drag LCCM out for many more years to come. Everythng about the purchase rang alarm bells. From the point that the company we bought it from were given LCCM and a cash incentive to take it, all the way through to the due diligence. We had permissions to operate it at the time when we had the money to do so. Yet here we are.
So, in a nutshell we need someone to take the risk of stumping up 2.6mil to get this going whilst we put nothing into the pot.
If the company fails this deposit is lost???
Am questioning why someone would take that risk on us
Wheres to the money coming from for actual operations on site????
It appears to indicate that it will not be funding when PEPR approved, but rather PEPR approved at some time after funding is found. An update as we have passed an expected timeframe would help.
Started: Propinquity, 2 Jun 2024 22:28
Last post: Propinquity, 2 Jun 2024 22:35
From Jam 18th RNS:
"While, on both Redmoor and Leigh Creek Copper Mine, work has continued and progress has been made, the Company was not in a position at the end of 2023, as we had initially hoped, to update the market on progress. The Company is continuing to actively engage with the Cornwall and Isles of Scilly Good Growth Team in relation to progressing its application for grant funding from the Shared Prosperity Fund. This remains a live process, which is expected to conclude soon.
"Accordingly, the Company is hopeful it can deliver positive news on both projects during Q1 2024"
Started: casparfrederick, 30 May 2024 10:19
Last post: Propinquity, 30 May 2024 12:10
Slurm, I’ll interpret your comment of ‘ JP's lack of forward planning to ensure continuity if things change’ as pure comedy gold: it’s been his - and the others’ - MO since he took the reins.
I used to work with a director that did not like shares, whenever he would instantly sell and never hold any, odd but his choice, maybe Broom is of similar vein.
Im hoping to see the next set of financials show a stronger cash holding.
My only concern is JP's lack of forward planning to ensure continuity if things change.
How about AB, not even one? bargain basement this :)))))))
Started: Lupidog, 29 May 2024 12:47
Last post: dvharrison, 30 May 2024 10:04
What's happened to the 'tsunami of cash'? lol JP just a joke!
They still need a raise to survive. 0.1 to 0.15 would be my guess. what value has been created in 10 years. yes - zilch
No RNS? Looks like the BoD can't be bothered doing anything! Has Broome bought any shares yet? lol
Would pay for a mine manager for a couple of years, until we get mining.
See how much we see of it
The claim is confirmed at 160k. The receiver does not say at what cents to the dollar it will be paid at or even if it will be paid.
Started: Pinguser5, 28 May 2024 19:11
Last post: Pinguser5, 28 May 2024 19:11
Every communication made by the BOD further demonstrates how out of touch they are in terms of strategy, their marketplace and investors.
The performance of the share price is linked solely to their lack of judgement & progress with anything. How John Peters has the nerve to even comment shows how out of touch he is with his so called area of expertise!
Started: Pinguser5, 23 May 2024 22:34
Last post: SuperheroSam, 28 May 2024 19:10
"copper can't be mined fast enough"
Or at all...
Were we told about the large bond payment?
Appreciate the bod have said at 3.7mil,this is bigger than expected, so it could have been 2mil to 2.5mil, was this level ever explained To p. I'd??
Where was it ever coming from?
Dilution?
But they can't do that due to the demolished sp
Sam
The extract below is from RNS Number : 9529E, Strategic Minerals PLC, 12 July 2021 - Todays price is $4.76/lb with an exchange rate AUD/USD 0.67%. Copper has gone up and that has been balanced out by the exchange rate doing us no favours. The margins are there, but are they there if shared? The BoD say they (to a large extent) expected the associated conditions and that the bond was higher than expected, but managable. 3 years later and we have not really moved at all. We had 1.9bn shares in issue with an sp of 0.5. Our current mcap is less than half of what it was back then. Information is not forthcoming and lessons do not appear to have been learnt. If LCCM was commercially viable it would be producing IMO.
"As part of the approval, the DEM requires:
· An environmental security deposit of AUD $3.7M.
· Native Vegetation Fund contribution via a Significant Environmental Benefit payment of $81,398.52 to offset for native vegetation clearing.
To a large extent, the conditions associated with the approval were expected and reflected on LCCM's PEPR application. Whilst the bond requirement is larger than catered for in the Company's financial modelling of the project, the Company is comfortable with this level given the current overall amount of funding being sought.
The Company considers that the cost of funding the additional environmental security deposit will have a negligible effect on the profitability of its planned accessing and processing of material at both Paltridge North and Lynda/Lorna Doone (the "Project"). This impact will be more than offset as current market parameters indicate an increase of around 20% in the LCCM's Project profitability, reflecting the current copper prices and the AUD/USD exchange rate (US $4-28/lb and 0.7500 respectively) compared to the previous levels employed (US $4-00/lb and 0.7800) and the Project's 50% operating margin."
I read about great near term predictions for the copper price.
What do these guy's need to get their finger out???
Let's face it...the current BOD have presided over a shocking share price performance over many years which is directly related to their judgement & actions. Despite all of the RNS's & interviews nothing has actually materialised & the market has acted accordingly.
SML has just become a typical AIM business, producing very little progress & promising for better things tomorrow.
Share price is progressed through actions not words. Investors have been more than patient so please Broome, Peters & the rest please get off your back sides & either move on or deliver something. It isn't as if you've been short of time!!!
Started: Sammybow, 28 May 2024 09:25
Last post: Propinquity, 28 May 2024 10:20
I don’t believe we’ll receive it, at all: the length of time between resubmitting the request (sometime last year) and awarding the grant (still waiting (or was it awarded to another company?)) has been inexplicably long - exacerbated further by, of course, the BoD’s hifalutin language on big - and strongly implied company-changing - news in Q1; yet, here we are two-thirds into Q2, without being any wiser - back to bad (and true) form by the BoD, then.
Redmoor Grant before new Government in July??
What are peoples views??
Started: Lupidog, 22 May 2024 15:39
Last post: SuperheroSam, 23 May 2024 20:57
"hopeful"
Now there's a reason to invest.
There was a ramper spike here some years ago based on what? We may have rare earth's?
So apart from that, this is based on forward looking statements in rns over the years
That have not materialized, over how many years
Its difficult not to call this a lifestyler
I think "recapping" is helpful. These are company news releases. These are the statements by the Board of Directors about the company, its health and intentions. Recapping shows exactly what we were told versus reality, giving a historical context. It reminds us of why we invested and why we are where we are today. If we are not given the expected updates "Accordingly, the Company is hopeful it can deliver positive news on both projects during Q1 2024" (LCCM), we can see it is business as usual and have to "chat amongst ourselves".
Most of us know the back story to where we are now, im not sure recapping is helpful.
We have had many discussions about trying to get a group of share holders together to do something meaningful, yet last time, it was only me, prop and fira that actually stood up, we should either do something or let the BoD carry on, middle ground is only self inflicted pain.
That RNS reads like it was written by someone high on cocaine, that's trying to describe their biggest fantasy.
Amazing how far we have progressed in 4 and a half years. People reading that RNS (22 Nov 2019 07:00
RNS Number : 2908U) could be forgiven for investing. An interesting read or recap for those who invested on it. The question is should the BoD be angry at the shareholders or should the shareholders be angry with the BoD? I guess that is down to the individual.
Started: Propinquity, 22 May 2024 11:51
Last post: Propinquity, 22 May 2024 11:52
While I am sure that all holders appreciate the continual analyses and reanalyses of drill-cores, soil samples - and how the air quality and the stars’ alignments affect selecting the next drilling spots - that increase knowledge on the quantity of metals and therefore uplift the resource, the fundamental share-price accelerator still eludes our BoD: funding to monetise Redmoor. Judging by the soporific reaction to this year’s positive news, Mr Market seems confident that the BoD will yet again fail to deliver on their early-year announcements on big news on Redmoor and LC.
Started: Sammybow, 22 May 2024 11:33
Last post: Sammybow, 22 May 2024 11:33
Back slapping and 1p or closed doors and 0.1p??
Watching the cnbc ticker,can be boring tho prop.
you get a bit of everything on it.
currently,sou is back on the trading range low,so could be bottoming atm....before the repetive bounce...(swing traders only.lol)and its still red as heck
Cheers, Tro.
A lot of the small cap resource shares are getting on investors radars atm. Metals prices really buoyant...
Prop
its a free biz channel on sky/virging/freesat and a few others.
no idea if you can get those channels on the internet.
at the bottom of the screen is a moving ticker,that goes on volume,so high vol comps,appear mostly.......but sml as been red on cnbc for a few weeks and today,it went blue,suggesting the end,of the recent pullback.
mast....went blue about 30 minutes ago
kefi.....its almost blue,every day,just recently.
clon went red about an hour ago.
msmn is going blue as i post....so it'll be due a tick up
Have you the CNBC link, Tro?
Last year was on 18July , so presumably around then ….
Its the time of year AB sits in front of the screen telling up how under valued the company is and how we're going to be worth $billions! lol. Copper motoring ahead again today, now $10,600. If only we had some to sell....
E-mail Alan Broome: it’s his favourite time of the year.
Anyone know when the AGM is ?
Started: Ilovesushi, 17 May 2024 16:32
Last post: Ilovesushi, 17 May 2024 16:32
Unrestricted cash at 30 June 2023 was US$129,000. With sales just covering costs they must be operating on air. Add a bit for warrant's Expect a placing to fill the gap. It is said this is a profitable business yet cash seems like it has run out. Got to be a placing to get cash for wages and working capital. Not a great business here. Its going to collapse at some point. Forget this nonsense about Cornwall. They will never find the funding. Just geologists playing with rocks for a hobby. No viable business here with monetisation a million miles away. This needs to sell shares to keep running. avoid
Started: Ilovesushi, 17 May 2024 16:25
Last post: Ilovesushi, 17 May 2024 16:25
It needs more funding. Now where will that come from? Placing for sure. Again. Wipe out for LTH
Started: Beppie, 17 May 2024 14:25
Last post: Lupidog, 17 May 2024 16:02
Surely the Bond would have come under the planning of the project before purchase.
Depends on what the MM's are holding, it will have to at some point.
Whilst it might have been shovel ready, the bond for land management was not something SML had available, hence the need to JV
When will the laws of supply and demand kick in ?
Bought 7,524,161
Sold 1,125,000
SP -12.50%
Started: Criticalminerals, 17 May 2024 15:30
Last post: dvharrison, 17 May 2024 15:32
Lets hope not, at this level the dilution would be very painful for LTHs!
Looks that way
Is back over $10k. Come on BoD either make a deal or make an exit. If you can't do it now, it will never be done.
Started: casparfrederick, 13 May 2024 11:13
Last post: dvharrison, 14 May 2024 11:23
You may be right in that JP is extremely greedy as evidenced by the totally unjustified 'bonus' a while back. He'll be kicking and screaming as we pull his snout out of the trough....
See thats where i disagree, with around/over 50mil in shares for JP and PW I think they will be looking to grow the share price then cash out. rule no. 1 of a greedy person, dont leave money on the table.
The BoD will make sure they bleed the company dry before it is wound up. Cobre money for another couple of years. Progress on monitising the assets? Nah....
No cash. Will it get another fundraise away and get some daft lot to support a placing? At a huge discount. could be the last one. Eventually this will end in administration and be delisted. 0.1 next price then 0.05. Then lights out as no one wants to continue to buy the shares and support this company any longer. It has zero prospects and Cornwall resources is a drain it cannot afford. avoid
Caspar, If only I had - thanks for the downheartening reminder.