Member Info for BPat890

Lmao so the facts are too hard to handle and filtering them out will make it better? Head in the sand..

Ah yes, lazy ad hominem attacks for speaking the truth. It’s clear what is happening here, desperate long term holders down on their luck wanting out as quickly as possible..

2.8 million liabilities is just one little fact. Another of course is Directors and connected persons poured the best part of $400k in to stave off insolvency, it’s all in the results..

So when the reports tell you funding was ‘tight’ it is an understatement. Talk of revenue streams are immaterial, the only revenue stream here is paying down liabilities and covering ongoing group costs, which are stretched and only subject to care and maintenance activities.

They are beholden to their only major customer who has disappeared before and is under no terms to remain.

There isn’t a long term investment case here currently. Cobre will sustain director pay sure but investors won’t make anything.

Are you being serious? You are invested here and unaware the company has ongoing current liabilities.. as of last set of interims $2.8m owing and longer term liabilities on top. They said they cleared $0.49m of these at the FY results although no mention of any additional liabilities added in the period. SML is fraught with risks and there is no guarantee of securing a JV or outright sale of their other projects that continue to burn cash, albeit at a lower rate while they are on care and maintenance

Some wishful thinking here. Company operation is barely covering liabilities with operation at Cobre and it’s main assets are not fully funded, otherwise they wouldn’t be desperately advertising for a JV / sale. They haven’t made any headway with that. Funding is tight and barely covering group costs with sizeable tax bill due. If Cobre operations are suspended this will tank hard. There is no fallback, no route to finance and no chance of a raise without equity wipe out.

@moneyman perhaps you should read my posts again. The company confirmed as much they are barely covering their liabilities.

Half a million cash over 12 months for a listed company is diddly squat.

There is no equity here, no room for placings, no access to loans, no sign of a JV on the horizon, funding is tight according to all the recent updates and even directors went without pay to keep the lights on.

Spread the risk across many gold producers. Easy money now, too performing asset class and unbelievable margins over the course of this year.

Asian markets this morning are all fired up with a bid over $3,060/oz. Just amazing to see it build each day knowing future value is even greater than it was this time last week / month / year!

They are barely covering their liabilities after ongoing costs and completely out of options with financing development of their other assets hence the sale / JV route. These are distressed asset / equity disposals to rebalance the balance sheet which is one bad quarter from going bust.

You made your 6p call whilst the price was 7.7p and it’s since moved higher. Oh well!

Meanwhile you’re cross ramping SML which has nothing going for it and yes desperate for funds. They are barely scraping by but for pushing out Director fees and accrued creditors. All their recent results talk about tight funding and it’s obvious they are limping by without a plan of action. It won’t take much to tip them into the red again.

Have you read the recent updates? They are going to the wall. No point being listed if they can’t afford the fees.

Lmao 6p support? Look at his post, gets it wrong every time

Company is desperate for funds. Can’t sell or even secure a JV and no finances to develop them. Even the directors suspended paltry compensation sums and the company fell back on short term loans to see it through the interims. A fundraising via placement of shares would help cushion the financial burden for a while longer.

@Hermanus - good to see another familiar face! How do you rate JLPs prospects to SLP with the Chrome project coming online shortly?

@shareminator - you may be right about Tempo acting as a middle man although for who remains a mystery. Sale agreed in less than 24 hours! Orchestrated publicly for whose benefit?

@Waterloo yeah but you could look at it another way, 58 mil shares bought at a multi-year high in a closed door deal between institutional investors. Try buying 58 million shares on the market today in one go and it would be virtually impossible.. the MMs would take a while to fill trades of any meaningful

size and I reckon you’ll be paying north of 50p by the time you’re finished picking up the last of them! Should be a TR notification about the unknown buyer in the next day or so

@Nigelbonger - like you very much aware of the jurisdiction and risks of heavy handed government interference. I doubt you’ll find much nuance from TenBag though as their agenda has been to make unproven accusations and sow doubt here in a tit for tat tussle with ADW and whoever else. They seem to post with or swap between a couple of IDs, popping up at the same time to rehash their one liners.

If Nigeria is overrun by a military junta in a coup then we could have a very real risk of being held to ransom. Nigeria is not on that level and those in power will be aware foreign investment would dry up instantly if there was even a whiff of asset nationalisation.

@Strike - entirely reasonable assumptions and target of 1,200 in the wake of US$35 silver

Noel criticising others for their posting content is the height of irony 😆

@bobby - quality assessment earlier, as others are showing is throwing off huge numbers now but the uncertainty over life of open pit production is an issue.

USD 20-30 million into extend the mine life another year or two has to be no. 1 priority, especially while they can reap the rewards at USD 3000 gold!

10% divi would throw the cat among the pigeons

Sellers dump today. Not much fun for the multiple ID posters TBT, trybuy, Margeritas…

There will be no funds left by Q3 without a raise, market knows it hence the price is down. So the placing is now guaranteed but at what price and for how much?

US tariff war heightening tensions as commodities soar