JOHN PETERS CONTACT15 Jan 2021 10:32
Morning All... After such negativity yesterday I took the time to relay the boards feelings to John Peters Directly by email
and am please to say had a reply this morning which I found very reassuring.
PEPR reply was received from SA Government late afternoon 22nd December just before holiday closure.
Further information was requested , a face to face meeting followed . Now in the process of supplying exactly what is required ASAP
The time stated end of March? Reply ...If I said FEb and did not occur , will have to RNS saying will take longer .... Not something I would like to do
The works done @ Cobre, LCCM and Redmoor are all designed to produce a positive result.
Publicly listed vehicle , as such not feasible to detail arrangements being undertaken.
Finance route intention for LCCM Asset level Finance and have a few parties in active discussion
Pepr approval required prior to commitment.
REDMOOR... My question what type of interest ? Is it for sale ?...
The level of interest is price sensitive..cannot discuss with one shareholder interaction.
Does this include outright sale..yes if the price is right.
Main focus is to move Redmoor along without further share issues
Focus is to move project forward, not at any cost but not overvaluing existing ownership.
minority shareholding situation is in the mix of consideration
Aware of Cornish Metals raise and listing . we consider we have better and more developed project than Cornish Metals..
Eagerly awaiting the information on this and the 'implied valuation. If £5m were to represent the implied valuation then Redmoor should be £10m plus As aware the current market valuers it at ZERO.
Reservation is Cornish Metals have been going to the market for 3 years...OBVIOUSLY SOUTH CROFTY MINE PROJECT CANNOT BE FUNDED due to water issue .. trying to put greater spin on' Lithium' potential but may not pan out commercially viable option
Comment ... Cobre is the only thing the market is valuing
Last 2 years have been dismal .. Yes agree in regard to share price.
I think PW, AB and JP should take a couple of hours to read the board comments.
Where possible, attempt to address misconceptions....
I think the BOD have lost touch with shareholders opinions and what they are after...
Would be happy for us to suggest what we believe shareholders want and our suggestion on how to achieve it.
Not hiding away in plain site ... Cannot only update real information ... unless firm as market will brush off...
Sad to say enthusiasm and confidence lost.... Noted
I am seriously thinking that if this relationship is not addressed even with good news on PEPR and REDMOOR DEAL the share price will stay dormant..... NOTED
My comparison with Paul Johnson Power Metals ... communication frequent RNS etc...
SML attempts to produce RNS with meaningful info when available.
Expect once PEPR issued..capacity to produce string of RNS...
Will contin