Current position.27 Jun 2019 16:44
Hi all, been out of the chat for a while as had nothing positive to contribute , but read threads daily as a large holder.
I never expected circa $4m to land or the Cobre client to pay anything further. I have been on the wrong end of promised payments many times. They are never in until they are in and it was wrong to RNS this was expected.
I very nearly sold @ 1.80 for this very reason.
I think we have to look at this like a bank manager financing property deals. If you have not got your contribution you cannot have the funding , if you have the contribution but don't have income to meet the payments you cannot have the funding.
Sadly we need to be realistic, the very reason why this company is different is because they are earning from Cobre, the thing is they are not.
We have good projects but we need to earn . The Bod need to get a grip , get rid of the Cobre client get another buyer asap before the mine owners get rid of SML because the very reason we are there is they want the tailings out the way.
We have to buy Redmoor but shelve it . Our cash cow is very ill , its a wake up call.
Further more I do not believe we are going to get the copper income anywhere near 200 tonne per month any time soon
We are trying to run before we walk all the talk of big money is wind and piss.
However I do believe we can get there, for that reason I am holding but expect stagnant share prices until Cobre is earning, and proven Copper income is shown on the balance sheet.
Bit disgruntled today ! but still a believer !
All the best to the long term holders .