Member Info for canillasboy

To me the passage to profit for us all is in things like Propinquity found today, as the Chinese close down the availability of Tungsten and other CM's to the RotW then the panic for the product is going to accelerate and projects like Redmoor will arrive on decision makers desks. I just hope we resist the temptation to sell it out but take it to production and produce a world beating tungsten mine and processing plant asap, oh and make us all a nice profit into the bargain.

Well said BB

Actually sp held up well into the close with c1.5m sells and only minimal buys in last hour or so.. Maybe MM's have a buy order to fill tomorrow?

Anyway staying in range atm.

Ontarget, have looked again and my take is that the infill drilling will need to be completed before PFS . The company are hoping to raise the rate of the drilling program with other rigs on site once they have the permissions required, expected soon. They do not know when that drilling program will be complete, as waiting for planning consent, but they are accelerating the time frame as much as they can by adding additional drilling rigs, and in other fields the PFS is six months ahead of schedule as are parts of the DFS. So I agree the infill needs to be complete and the time frame for PFS remains unknown but they seem to be going at 100mph in order to deliver it asap. Guess it will become clearer as we progress.

OK will look again.

Ontarget, if you go back to the live investor video you will find that it was stated that they expect to drill 9 holes with sampling results to follow, up to Christmas but the other inferences were that the PFS would come sooner rather than later if at all possible. They would not have known how many holes etc they were drilling relating to the planning permissions drills this year until they had obtained the permission. So I think the later drills relate more to the DFS than the PFS even though they may get drilled later this year.

Bg, same amount of evidence you have for suggesting we are in a period of consolidation? Did anyone predict the fallback from 7p to 4.5p and then a holding pattern for several weeks while some big holders offload whilst others load up but in balance. Truth be told if any of us , including me, could accurately predict exactly where the share price was going to be by a given point in time we would be millionaires all. All of us are just voicing our opinions based on past performance, projects details and likely future developments and anything else we can think of. Everyone can voice their opinion, some will agree others will not but they are entitled to their opinion. Usually the case is anyone who voices a very positive comment is labelled a ramper and anyone voicing the negative is a trader both with a supposed cunning plan to drive the sp in one direction or another. The truth is surely just that people voice their opinions without any axe to grind and I feel, most on here, would not be swayed in one direction or another by comments made on this board, by others.. It is just a discussion and information sharing tool.

BG, is April to June not previous performance???

Agreed BG not saying otherwise. For clarity I am not suggesting "stagnation until the PFS" merely observing that the newsflow will be quiet for a while as we await drilling and sampling results. Although they are anticipated to be as good as pre MRE they will only likely move sp in a gentle incline until we get close to PFS. That could still mean we are into double figures by the Autumn.

Good find Pro. Let's hope this stimulates UK Gov further to get off their backsides with this and other UK CM projects and gets fast tracking!!

Yes fine BG but form April to now the price has gone from 4p-5p so 25%. One can make the picture from statistics any way you want.

The price has still gone up recently and atm is holding its own at a higher low area so we wait for next uplift which given likely the news flow in next few months, will be slower than of late until we get to PFS ,unless we get some out of left field news.

Yes Trout there is a 2 for 1 special atm!!!

One has to say it really encouraging to see how large quantities of free shares are being readily snapped up and as a result we are continuing to see the sp retained in the range of 4.8p-5.2p atm.

Ontarget, take your point but the inference from the company is that they will drill 9 holes this year and gain the assay results from them and at the same time move with all speed to get to PFS, possibly this year. The planning permission drills or some of them will perhaps confirm further project/mine evidence into the DFS. The company has said it expects to be able to fund all the drilling and the PFS and expects UK Gov to be proactive in providing/assisting funding into DFS and beyond, so the hope is to take the project to production with all speed but obviously taking proper account of all the necessary compliance's to achieve that.

So between now and the PFS is likely at least 4-8 months at a guess although the company implies sooner rather than later but we will see, maybe December ish.

In the meantime the main likely news will be drilling and sampling updates. We can expect , I think, these to be broadly consistent with most of the previous drills and sampling, with the main benefit of the infill drilling results being the most likely sp driver as we go forward. We can hope that the infill results will indeed expand the area of potential mining and massively improve the mines economics and possibly extend the mine life further than already suggested.

In the run up to the PFS these are the likely main instruments to drive up sp but at a fairly slow rate and not in a straight line as always.

The PFS will be the next game changer in terms of sp and the run up to the PFS will likely be similar to the MRE as the pre announced drill results and their implications together with the sampling results of both past and present ore extractions will support the project's appeal as a more certain economic outcome.

Some of the work being done to get to PFS will also be used to develop the DFS afterwards which will also be noted too. So post PFS we will need an injection of funds to fund the work and personnel required to complete the DFS but one hopes that the quality of the PFS and the results and info contained therein will be sufficiently convincing to get funding on board for the next stage of development. At this point in the project it may very well be required to take on board senior board level mining specialism's together with other specialist personnel to take the project forward and it will be useful to retain the current board with their sense of drive and in depth of knowledge of the project to date, together with the "on the ground team" at CRL. If we can get that done then we can proceed to a successful DFS or else we will be sold onto bigger more experienced hands to take the project forwards. Mark Burnett may be pivotal during this period in favour of either outcome with his connections to finance etc

The sp will nudge upwards at some point soon as this containment/consolidation cannot compromise the project's forward momentum for much longer ,although the climb to the next higher high is likely to be a gentle one, until PFS becomes a nearer reality , then likely a steeper climb.

So the next few months are likely to be relatively quiet at times and then accelerate into the PFS.

More patience required I tell myself.

Seems the sp is going to continue to be contained between c4.8-5.2p for the moment.

Having read the RNS again, there really isn't much we did not already know, apart from the basic drill details and it is more or less expected that the logging results will be much as before when they are available. The LCCM news is very short on info and there is no definitive clarity that the deal will not be delayed again after August. The Cobre info about a new piece of plant whilst positive is not earth shattering either although I am sure it will help the operation.

So I cannot really see the market being overwhelmed with any additional confidence or certainty yet, despite the fact we have good funding to PFS, again not new news.

So not being a wet blanket but I do not see anything of any real note in the notice.

Also Mark Burnett has a relationship with LCCM so maybe he has playhed a part in the delay.

One thought I have is that the RNS infers Cuprum are still trying to raise the cash. As it is a fairly modest sum as these projects go I hope there is not a problem there coming down the road, hopefully not.

Otherwise RNS was good news all round. Just hope the market recommences taking notice and the sp starts to reflect the strength of the Redmoor project and SML overall.

Mark Burnett's history has involved raising capital and helping to facilitate mergers and acquisitions with his involvement in RAB Capital and other mining companies. So there is a bit of a question mark as to where he wants SML to go long term. I suppose he might say that he will act in the best interest of the company and the shareholders but that is always subjective.