Member Info for colline

Tungstenman…. Luke Rogers is the INDEPENDENT NED ….the very nature of this appointment means that he should NOT own shares otherwise he would no longer be considered independent. Secondly in a company like this there are typically very few , if any, times when the Executive Directors are not prohibited from buying shares - ie they could ONLY do so when they knew of no future developments that had not already been announced to the market via RNS - in practice this is usually never, so the suggestion that Mark Burnett can/should buy displays a lack of knowledge of the system and is , I’m sorry to say, frankly ridiculous.

Tks for the feedback Shangri…. Seems like shareholders beginning to make their voices heard. Hope others will join in too…

Let’s be honest , does anyone suddenly announce their retirement the day before the AGM. For weeks he has been on the voting forms as wishing to be re-elected, and then the day after the online voting closes he “retires” .(nb he hasn’t announced his retirement from any other business (eg Mustang ) - only SML. More to this than meets the eye. My guess is big shareholders flexing their muscles behind the scenes, and he saw the writing on the wall. John Peters next? Here’s hoping!

Congratulations Ping. I have too, and let’s hope everyone does. There is no moral justification in moaning away, but then not being bothered to vote on the one occasion per year that you actually do get a say. VOTE NOW !!

Hi Ping,

call up HL and they will talk you through the process step by step- its v simple , and takes about 30 seconds. i know , because ive done it . And i totally agree with your sentiments on the board.

Hi Ping,

call up HL and they will talk you through the process step by step- its v simple , and takes about 30 seconds. i know , because ive done it . And i totally agree with your sentiments on the board.

Well Alan Broome is the chair of the company and also the chair of the remuneration committee, so he is literally the guy who approves these absurd compensation figures . By a stroke of luck he is retiring in 8 days time , and is asking shareholders to give him another term in office…. So he has presided over a total inability to secure funding in our two beautiful projects , he has paid the board ( including himself) way more than they deserve, and he is asking us to give him another go!! I know what will be , and I hope others will seriously consider their position.

Well if you are unhappy with the sheer greed of the Directors ( as I am too) you can always vote against the re-election if Alan Broome at the AGM in 8 days time!

Not long to go now until the AGM (its a week on Wednesday). Any votes have to be received by Share Registrars by Monday 15th at 10:30 at the very latest . Holders who continually moan about our Directors ( Pay / Lack of Performance/ Governance etc) on this and other boards, really should take this once a year opportunity to register their dissatisfaction and potentially do something about it. Otherwise they should stop moaning IMHO. PUT UP OR SHUT UP !! You dont even need to go to the meeting, you can vote with a few clicks of your mouse with most custodians.

Totally understand your anger DV, but I think your conclusion is wrong. It’s the one time a year where shareholders actually do have a real say on who’s going to be running the company, so people SHOULD vote, whatever their view. If someone cant be bothered to vote ( and it’s really pretty easy to vote with all of the online portals these days ) then they can’t really complain if they don’t like the direction of the company…. I’m with Redmoor and ShangriLa

I agree with you entirely Redmoor. I see you say board have 170mm shares , but of course Directors cant vote on themselves, so AB cant vote for himself - so really they have 161.7mm shares. i will vote against too... but is it rude to ask you roughly how many shares you have ?

Market cap = no of shares x price per share, so is decided by market.

Book value is agreed between auditors and board, in accordance with accounting standards.

In this case, the directors had been previously arguing the project was worth $8.898mm. The auditors will have argued that because the project had gone nowhere and had not attracted funding (without which it could go nowhere) then it was currently worth nothing. Of course if tomorrow the board secures funding, it will be written back in at at least $8.898mm, and probably more than that.

So really it’s a paper entry on the balance sheet that doesn’t really change much in the real world.

As to your last question about penalties, it has been announced that the AGM is in just over 3 weeks, at which point you and any other unhappy shareholders can vote against the re-election of the retiring board member, which is presumably our Chairman (the rest of the board being executive directors do not have to retire)

I dont think it has been posted on SML website yet (despite the RNS saying it would be on the website today), so i guess that brokers also wont have been notified yet. Companies Act 2006 says they must give 21 days notice , and it must be displayed on website throughout the notice period from date of notification until conclusion of meeting... so it should be posted on website today , and at the same time sent out electronically to all brokers / custodians etc ....Lets see if they manage to do this correctly !

Ridiculous comment , even for someone like me who is negative! they didnt run out of money without the main client at Cobre ... now that they have him back and are making sales of $3.5mm per year they clearly wont run out of money , and JP specifically ruled out fund raise at current price in his video today ...

Last year was on 18July , so presumably around then ….

We should all have a little patience, as frustrating as this is. Don’t forget the AGM is coming up in just 3 months time, and under our Articles one of our eligible Directors must retire and can then stand for re-election . Executive Directors are exempt from this (PW and JP) , so the only eligible Director , who therefore must be the one to retire, is the Chairman. So we will all have a chance to have our say on this in only 3 months time… I for one can’t wait !

I can see that this news may not be transformational right now in itself , but it surely moves the whole Redmoor forwards somewhat? Quadruples the size of the exploration area into adjacent and proven areas - must be a positive thing. if/when funding is sourced for this project from whatever source, there is good scope for a very significant advance in sp - currently market values Redmoor at zero... with funding , that cannot possibly be the case can it ?

19% interest is pretty high , but its only for AUD 100,000 and is for a weighted average of 5.5 months , so actual cost of interest is limited to AUD 8,700 which equates to lss than one quarter of one percent of the annual magnetite sales that they have predicted. Proceeds specifically not being used to pay the directors , so presumably just tidying up a few outstanding bills. Not sure we need to get too worked up about this...

Hows it going Bitcoin ? managed to sell a few more yet?

22/11. Bitcoin buyer: “hang in there , 2024 is the year of SML”

Not being funny bitcoin , but don’t you think you looks bit ridiculous… still , the silver lining will be if we can get someone like you off the shareholder register and you can go and have your fun with another company !