Member Info for canillasboy

Well we will see but they will need big pockets.

@Propinquity what

@Propinquity

If PFS/DFS is Q2/3 27 then finance will be on the agenda at that point.

@addicknt you could well be right but one has to ask oneself if this project is as good as claimed and any loan is likely to be repaid in relatively short term (1-2yrs) why were commercial lenders so cautious?

Anyway SML will deal with it when we get there.

Sort of confirms unlikely claims t/o bid for SML from TUN.

RNS today from TUN confirming the opening timeline of Hemerdon mine. Concerning that despite a seemingly sound project they have had problems raising their finance and progress atm is relying on Greg Coffey loan of £25m.

My concern is if they have had problems, will SML too?

I think we should be shouting as much and as often as we can to get the Strategic Minerals name well known to the uk populace and more significant investors. We should not in any way be putting too much significance on Mr Coffey after all he is a finance man not really mining despite his investments and is only one investor amongst the many we have and will need as we progress.

UK Gov take note this is the kind of fast tracking that is required if you want the end products asap.

BTW TUN could find itself a target too.

@pj70 think it might be a little optimistic to think TUN will buy SML. TUN have found it complicated to get their own funding sorted and they are yet to be completely finalised. Once it is they will need to concentrate on getting production under way and may need over a year of production to prove their own profits to the market to have or raise sufficient funds to buy anyone. By that time SML may well be in DFS territory and on its way to production so the price tag will be very high given their likely resources which may exceed those of TUN considerably.

I think it is a distinct possibility given the current trajectory of the project, if not DFS could follow very quickly as we know CRL are working hard to prepare both Studies now. So given what they have said today in RNS we could be just 12 months away from DFS which if successful means there is a good possibility of production in 2028.

BG think Dennis Rowland has indicated along those lines that there will be a crossover of work for both PFS and beyond in both the drilling , assaying and other work.

No Piston they don't.

Projects like SML and TUN together with other UK CM projects may be part of the answer to funding defence in longer term as reduces UK cost to manufacture defence items and will no doubt provide a nice tax cash cow when projects like SML and TUN get into full production and generate the kind of profits they predict.

Whilst there has been conjecture about t/o bid from TUN , it is a conversation point on TUN board, TUN is as likely or more likely to get a bid as it nears production . The same criteria apply, UK Gov will not want a non UK miner taking control over a national critical mineral assets so it limits the possible players and reduces the risk of t/o. Long term SML is likely going to be bigger for longer than TUN. Hope the most beneficial outcome would be to share processing with TUN ,as much as possible ,to reduce costs and environmental impact of transporting material for processing, plus keeps the employment opportunity in UK and/or Cornwall where it will be very welcome.

What may be more meaningful to us all is to see the likes of Mr Coffey and others ,issue TR1's explaining higher involvement in the project. Mr Coffey certainly seems to be building an empire in AIM listed critical minerals companies amongst his other investments.

Often in AIM companies when there is positive news flow it is jumped on by traders hoping to make a fast buck which is their prerogative and so it follows there is a short lived pump and dump scenario whilst the lth's just wait patiently for the end game to arrive. We are likely to have quite a few more situations of that in the coming months as news flows.

The good news has finally arrived with drilling likely to commence by August. We still have c20000m still to drill so at c30mpd at each site gets us to mid March into April to complete drilling if all goes well and that is optimistic but falls in with the prediction to be completed into Q2 27. With assay results building along the way PFS may be possible May/June 27 at best unless it is released earlier on say 75% of the drill results with the remainder added as updates to the PFS once published. I would hope that we get some uplift in sp in coming weeks although I am not convinced it will be substantial nor that it will steadfastly hold. The reasons for that are the uncertainties of the market :-

1/ time frame until mine actually generates any cash is still into 2028 at earliest, (always follow the money)

2/ uncertainty will remain as to obtaining the finance although in mining terms the amount (c$120m has been suggested) is not great but until it is obtained for definite there always remains some uncertainty ( look at TUN as evidence of that).

3/ UK Gov needs to clearly define its role in the support and development of this project to add further certainty and clarity to the progress of the project.

4/ The company will still need to prove it has the ability to progress the project through PFS and onwards as it will need the addition of further quality personnel to achieve that and that costs money.

Don't get me wrong I believe that most of these things will be achieved only that the sp may not fully reflect the value of all this until much further down the track. I think we could easily achieve double digit sp values in the relative short term but beyond that am yet to be convinced that the market will reflect the fair value figures of c43p etc over the coming months.

In the meantime I remain convinced of the viability of the project, remain invested and as keen as everyone else to see the value of the company strengthen as the project progresses together with my stake along with everyone else's too.

Stevie maybe you're right and info is starting to leek hence 10% rise today????