Member Info for Croutom

I meant to explain the reason for the acquisition/allocation of shares, unless I'm being stupid I can't see any detail for why in the last one

RNS surely has to follow this acquisition - I'm expecting one within this week

IMO either grant money for Redmoor, bid for LCCM or funding for LCCM

No move on SP though :(

Yeah I agree Slurm - I think cobre is fortunately preventing this SP from falling any lower (although I'm not holding my breath) hopefully 20% price increase & marketing will make the next earnings call a bit nicer.

Redmoor - waiting on the UK gov (no point in doing anything with this one. But if we do get a grant that would be a bit of a bump on SP (could happen tomorrow or in 36 months time though) hoping that rising inflation causes a reason for urgency to get more supply however govs a shambles atm.

Brenda - might get something back from this shortly, although I'm expecting probably <$1m, nothing substantial, this isn't in the forefront of my mind tbh

LCCM is the project that's frustrating me the most, if it's copy and paste it should of been in months ago, I haven't got a clue why it wasn't processed immediately after we submitted PEPR 1.

As this hasn't been submitted, it does beg the question what are they all doing on a day to day basis

Thanks DVH - Weird I thought blue indicated buys! that makes sense though.

Yeah unfortunately i'm very adverse to selling my shares at this price, what's the point of copping a loss of £6k-£7k, I'd probably plunk it into another sinker anyway - might as well just let this train ride out and hope we peak up over 0.4p (my SP average) at some point in the next 12 months!

Can someone smarter than me explain how we've had a week of pretty solid (SML solid) buys but the SP has stayed at 0.23p?

Not really too sure how it works, obviously more volume is needed but I would expect the SP to tick up slightly on consistent buys - is it because there's too many shares unaccounted for or is it because the relevant ftse index is down?

Haha prop - it's an absolute shambles isn't it, truss will be out in <2 years - why can't we have the Finnish leader, at least her partygate scandal looked somewhat fun

Just need an update ourselves from Redmoor/anything would be nice ! Surely after 5 years of downward trend we're due to start rising

Here's hoping the UK gov takes some action on the critical minerals list within the next 12 months.

BB fancy a venture capital endeavour? Asking for a mate

The infamous data room of SML - just a small 4 x 4m magnolia coloured room with one filing cabinet in the corner, there is a small window but it's overcast outside.

Agreed prop - I think it's pretty balanced and reasonable today

This is my point Fira - how long will the second submission take? - I think we're in an environment (quite possibly the last time for a while) where these metals are at such a low price point - bid offers need to be put in now (if at all) while we've got a limping dog and due diligence needs to be done quickly (wouldn't be surprised if it's already underway)

Redmoor - I do think it's a desirable bit of land, the value of it will be much higher nearer the end of this decade when it's actually feasible to mine, the only other potential buyer of Redmoor I can see is Cornish metals and they're currently struggling with free cash flow (At $5m as of April 2022). I don't think we'd be able to sell it right now.

I do think a company acquisition is still possible - right up until 2nd PEPR comes in as we've got such a low MCAP and will have until full LCCM is authorised. It's just a waiting game (a game we're all so used to playing!)

OR a bid/purchase of the entire company by a bigger fish - ideal

I think that's it in summary Prop - there is value to be had (just a while from now) and selling now would cop too much of a loss (especially with this huge spread). We have to wait for the government to grant & fund the carp out of Redmoor (god knows when) & this next transitional PEPR to go through for the full project to be viable (again no mention that this has been done already).

Fortunately the underlying assets & metals should grow in value over time so the uplift once one of those come into fruition will be proportionate to thier value at the time. But it's just a case of waiting for the first of these snails to cross the finish line.

I'm hoping I'm proved wrong here and we get funding asap... The only reason I could see for funding now is if there's a queue of suitors and one wants to get their foot in the door and woo JP first with an offer in the JVs favour

It is a shame - I think for the small MCAP we just have too many (by that I mean two) money intensive projects with money intensive directors running each show - if one was sold to concentrate on the other it will give us a bit of money to go digging and clear some overheads - I know LCCM leaves a bad taste in everyone's mouth but it's just way more feasible to mine and generate revenue in the short term - I know the BOD have been saying this for years but it is the operation closer to production.

I'm happy to go ahead and pass a vote but as Slurm said we need 10% - if not I think we're going to have to sit tight for that second PEPR before funding gets achieved - fortunately they can't dilute $10m out of the company!

You think Redmoor is worth more than LCCM Lupi? What do you think's best for the company?

You have my 3.6m shares Slurm for whatever that's worth... We need 198.4m then to be heard? I do think action is needed either:

1) Aim for a lower borrowing figure - enough to pay for required environment bond, cheapest possible operating and initial dig & 1-2 successful oxide leaching to produce enough Cu cement to prove that it is not inferred - at the start of this the second PEPR is applied for. Note that I am unsure on the minimums here - I just struggle to believe that $10m requirement is the be all and end all here

2) (my favourite idea) Appeal to neighboring mines in Cornwall to sell/get a price for Redmoor using proceeds to fund LCCM, sack local RM directors/staff to free up income stream, it's clear that any Redmoor RNS has no impact on the value of the SP - all the deep digital carp, inferred tin or lease extensions had absolutely no impact. We bought the remaining 50% from CRL back in 2019 for £2.66m, which leads me to believe that we can get £5m for it with that lease extension - more than enough to go digging in Aus!

My worry is everything is on hold until we get second PEPR - the risk of funding us without it would be on the JV partner as opposed to just waiting until it comes through as confirmed - IE the JV partner has nothing to lose by waiting.

Again I am content that this will reach 1p+ it's just so slow and I do think that there are options without us attracting further debt.

Big sells normally prompt some sort of commentary at least, acquisition bid right now would be welcome at a $4.5m market cap. Hopefully JP wafting the company around to larger firms over the past few months will bring someone to the table. That will give the SP a little burst at least

Impossible to acquire $10m funding for current PEPR with the knowledge that we're applying for a second - they'll just wait for that to go through

Big sells Trojan, hopefully will put a rocket up JPs backside