Member Info for bluegrass

Logged in late this morning and pleased to see a fantastic positive RNS.

As always this seems to have woken up a few troll derampers. They seem to have had their cash flow worry story oven ready to go, only problem it is contrary to the facts. They have mindlessly pumped out their storey regardless.

The fact that the company has plenty of cash in the bank with guaranteed funds to come from match funding and cobre sales was a stand out positive in this RNS. As promised by the company there will be no need for any raises this year. Expecting positive news flow with no negatives expected. These derampers are morons.

Not familiar with trading212, but is the limit something you can self impose to keep your investing 'safe'.

Hi NewOrmy. Don’t think it’s a fixed pool of people that now have what they want. If that was the case there wouldn’t be any hope for any of us since there would be no more trades. And if that idea was replicated across the stock market the whole thing would grind to a halt. I expect as soon as this starts to move people will pile in for fear of missing out. Personally I know I already have more than I should.

Two reasonable buys from earlier now showing. Probably what pushed ask up to 1.5p.

You seem to to be right at the moment, but there is no appetite to sell at this level either. Those waiting to buy on a dip may be disappointed. It may take some more news to trigger the SP but sometimes things happen when you are least expecting it. There is a tendency for people to wait for some price movement or momentum before buying , but this comes at a cost. I was happy to buy quite a lot more shares at 1.4p and am happy with my decision

There seems to be an impatience and expectation that the SP will or should double in the course of a couple of weeks and then think there is something wrong or something needs doing if it doesn't. Actually if you look at the charts, they are showing quite healthy growth. A series of rises followed by periods of consolidation. The direction of travel is clear and there is a good amount of positive news flow expected. Don't know what you are expecting when you say there is a need for a 'strong RNS'. Every RNS we have had in recent months has been strong or positive.

There are very few shares available and if you want to get in at this price you will have to build up your holding now.

Ask just moved up to 1.5p. This could take off at any point.

Nice late reported 5 million buy.

Can't really say SML is down today. SP has been up most of the day and spread has not moved all day. Lets see what happens into the close.

Understand what you are saying Valii but Tungsten West seem to have got into the whole junior mine thing of debt, equity raises, dilution and consolidation. SML are in the enviable position of having none of that, they can continue to prove up their resource using their own income which should lead to a complete rerating of share price. Down the line of course partners, capital and offtake agreements will be needed to fund mine development, but that is some time off yet. Doing those things without dept or continued dilution puts SML in a position of considerable strength.

The case to invest in SML is compelling. Personally wouldn’t touch Tungsten West with a barge pole.

Board have made it clear that SML are self funding till at least end of 2026 and do not expect the need for a raise. This takes us through MRE which is expected to be published in Q1. So we will hopefully get a rerate before then. SML has no depts and has income. Board members are also major shareholders holders so they would have more to loose than most from unnecessary dilution. In principle I have nothing against a raise in the future to get institutional investors on board, but there is no need or reason at all for this at present. SML is in an almost unique position as a mining exploration company that is self funding and that why I invested in it.

Sorry Valii, think your suggestion that Tungsten West could be a possible suitor is a total red herring. Tungsten West have large dept problems and will be doing well to get up and running , let alone start trying to make acquisitions. At most I think there could be some sharing of processing facilities.

Think the talk about penny shares and consolidation is irrelevant. It doesn't matter what the price of each share is, it market cap that matters to get on radar of institutional investors.

AI. "While the exact figures vary by firm and fund mandate, internal surveys have shown that fund managers often prefer to invest in companies with a minimum market cap of at least £200 million"

Thank you for the explanation. Thought there must be some explanation like that. In reality the bid price should have been at least 1.4p all morning since I have always been quoted above that, not that I am actually selling.

I am with ii. I have been consistently quoted above 1.4p to sell this morning for both small and large sells. So it is a complete mystery to me what all these 1.35p sales are. ii always seem to improve on both buy and sell price. Don't know about other brokers.

Actually I do not understand how this works. The buy price I have been quoted since my last post has consistently been 1.49p.

The sell price for a small amount has consistently been 1.416 for a small amount and 1.42p for a million. However within that period we are seeing a small sell go through for 1.35p. How so? Do some people need to change brokers? Why would you sell for 1.35p? This is only being raised as a point of interest. I am holding till at least 5p a share anyway.

Expect they will be moving the spread up soon. Need to pay nearly full ask to buy and can sell for 1.416p. Think January is going to be exiting.

Very hard to say since a lot depends on sentiment. Think best thing to due is look at valuation of our peers and from that point of view SP should be a lot higher. Things will not go in a straight line, but value will come though in the end. Don't think you can say SP will be a certain percentage of MRE.

Nice finish to the day.