Member Info for bluegrass

We had our pullback yesterday morning. Went from 3.35 down to 2.79. Lasted about an hour and a half. Think it's onwards an upwards from here.

Gor blimey. Need to take the dog for a walk before it gets dark so will look in again when I get back.

Well that's livened up the Friday afternoon chat. Looking like a strong finish. It doesn't take much to give this a nudge now.

Suppose you could argue that the RNS's reporting the 'visuals' on drill core rather than the results themselves are unnecessary, but they are interesting to see and hear about. It's refreshing to have a company that keeps it's shareholders well informed.

The thing about the updates is that they are under a duty to report when things happen that may materially affect share price and there are is a lot of news/drill results due. Looking back through the RNS's it is hard to pick out ones that shouldn't have been issued. Perhaps the trading update in January, although it is quite normal for companies to report intermittently on this; maybe the attendance at the industry conference back in November didn't need an RNS. Struggling to see that we are swamped with unnecessary RNS's. Some are complaining that the news is not coming quickly enough.

I am thinking with the volume of trading that is going on at present and some larger trades, we may get a notification from someone who is building a stake and has gone beyond the 3%. Generally feels like the company is maturing.

I am sure there are some exceptions, but I suspect there has not been any large investment by an institutional fund, since they would have probably then have crossed the 3% threshold and had to make a notification. Most funds would also have a minimum amount they would invest.

Wasn't meant to be a negative comment at all. I was looking at the positives as the company grows to £100 million plus and the fact that we will be on more peoples radar and can attract new investors. All onwards and upwards!

I meant Institutional investors will on the whole ignore companies with a market cap of £100 million or less. Sometimes even £200 million.

Forensic, anything spare I have down the back of the sofa is being invested here for the time being.

What I find interesting from what you say is that BSRT are invested in TUN. This leads me on to the subject of funds investing in small caps. Institutional investors will on the whole ignore companies with a market cap of £100 million. This may offer a boost to SML as our market cap approaches £100 million and beyond. We will be on more peoples radar.

Are they investors in SLM?

That's a lot of after hours reporting again with a lot of shares changing hands. I am wondering if anyone is building a stake and whether we might get a 3% threshold notification from anyone soon.

As an aside, the TUN sp seems to be recovering well. That was a gift to their new share holders, what a disgrace. I would not be happy if I were an existing holder there. I feel a lot more confident with the management here, they don't seem to be putting a foot wrong.

Don't know why people keep comparing SML to TUN. Apart from the geographical proximity they are very different companies. TUN has a complicated past, there have been a lot of loan notes issued and they are at a completely different stage of development. SML has a lot cleaner position to start off from, it has income and money in the bank that will enable it to produce a PFS without going into any dept what so ever. After that there will be multiple options to take the company forward to production through financing and offtake agreements or an outright sale. Before then the company will totally rerate, we don't need to worry that far ahead at the moment. SML does not have the baggage of TUN.

Mm's must be making a fortune out of this with the high spread and volume of trades going through. Some of the delayed trades are miles apart in price.

Don't think we need to worry about that now. The SP will undoubtedly be a lot higher after the MRE and again after the PFS. Exact figure I am not sure about. But owning SML shares on a risk reward basis represents a very good investment indeed. I can't think of any other share that I want to swap to at this point.

Think the slight drop here this morning may be a cross over reaction from TUN news. It’s unjustified but some seem to link the success of the two companies. It affects sentiment. Shareholders at TUN seem to keep getting battered, but there SP is still holding up to a certain extent. The drop here this morning is unjustified and just creates a good buying opportunity. Will correct soon enough.

From what I understand TW are not cash rich. Lot of debt/equity raises to get their own operation started, so unlikely to be in a good position to place a bid for SML, who as it happens are debt free at present. There are a lot out there with deeper pockets.

Think we can really do without the help of trolls like Ralph, JBco and Anne Robinson to ramp this. Rising quite nicely without them. They soon change their tune when they sell and want to nudge price down, not that I think they have any effect anyway, especially as volume is now greater. Think most people have got the measure of them and can spot their tactics a mile off. Mildly irritating all the same.

There you go we’ve hit 3.4p. If we maintain that it will be 3rd day in a row with nearly 20% rise. A steady strong tick up, but not enough to spike and prompt any major selling. More of the same please.

Think we need a new tread title.

Not got any TUN. Think from this point going forward potential upside is much greater here. But supposed there is a case for spreading your risk.