Member Info for Croutom

Rio tinto's Olympic dam just around the corner from us applying this technique - may be a good solution to get the full baked PEPR!

Lupi my findings are at least backed up by actual tangible evidence which is visible to all of us - I do like to share them on this forum because I believe that it's useful to other investors. I am sorry that my viewpoints do not conform to yours

Lupi I have no doubt in the DEM's capabilities in the quality of their work - i have had extremely helpful emails from them myself, my initial commentary is only referring to the delays with the current submitted PEPR and how i believe that the DEM, despite the skill & quality of their work are likely facing issues with capacity.

None of us are privy to any direct line of communication between the BOD and DEM so we have no idea how the correspondence has played out, that is all speculative - I do agree with you that they are government based so saying that they're all mates is the usual JP guff

Looking at the actual visible evidence that we can all see, DEM work to an SLA of 3 months for a response, there is currently no formal response registered to SML registered on the SARIG system on any forum.

Timeframe
PEPR lodged 05/01/2022
DEM advertise role of Mining Assessment Officer - Who would have to be interviewed/trained - DEM also release groundwater update on SARIG system which looked like a pretty arduous task.
PEPR circulated to aboriginal affairs 25/03/2022 - this is an enormous delay to just circulate the submitted PEPR to a third party.
PEPR recived back from AA on 28/04/2022.

https://www.linkedin.com/feed/update/urn:li:activity:6902109083957112832/

"The Department for Energy and Mining is seeking applications from motivated scientists, environmental managers and engineers (resources related quals) with suitable qualifications and a focus on environment, to fill the role of Mining Assessment Officer within our Mineral Resources Division."

Posted 2 months ago - got a newbie on the LCCM case maybe? /bit of a handover period

Huge amounts of cash/liquidity in the market right now with day traders trying to pan for gold - might be a large move on a positive RNS - fingers crossed.

I would also like to see Hursty shouting at the BOD although i feel like security will remove him before the presentation even starts

there's no confidence in the BOD - funding may see a bit more movement on the SP if a JP partner does due diligence on the firm/site visits and are happy to throw their hat into the ring - this will act as third party confirmation that we're onto something with LCCM which should result in a larger move. Larger SP moves will bring more interest from new investors who will hopefully view the BODs recent RNS' (including COBRE/Redmoor extension with a fresh attitude

Decent buys coming in this morning - would coincide with news coming back from DEM tomorrow/Friday as mentioned yesterday response came back from ab affairs 28/04 from this point another mine took 2 weeks to receive response from DEM (tomorrow) - IMO just based on what I can see on SARIG

Aboriginal affairs - response from them came back 28/04 a neighboring mine (phoenix metals) had a turnaround of 2 weeks past this point to hear back from the DEM which (should) make it end of this week - logically speaking. Although hasn't been much logic in the timeframe thus far

Lupi if the market always understand the value of the assets then how can there be explosive growth in a SP over a matter of days within this industry? - We're all banking on the fact that the 5 year access to cobre underpins the 7m market cap and that any dice rolls on LCCM in our favour will result in an upturn. Appreciate that your view is typically the case and that we are all pretty naive for thinking we're smarter than the masses but if we are correct, then this would result in a large upturn and a good payout - I've only put into this money I can afford to lose and advise anyone else investing to do the same.

As I've said before my confidence is with the assets and current price point - BOD shake up would be welcome.

With justifying 2p:

SML predict that 300 tonnes of copper pm is feasible, lets say it's half that (to account for costs, any funding debt & lower than predicted production.)

150pm @ $10,000/Tonne = $1.5m pm & $18m/annum

$18m = £14,365,980.00

1,436,598,000 (pence)/2,020,000,000 = 0.71p earnings per share

Average 3 year P/E ratio for mining = 9.7 x 0.71 = 6.89p - even at 25% below average this is 5.16p

Understand copper is currently below $10k per tonne atm but I reckon it'll average out at that across the year.

Agreed BB - I've checked all forms of news re SML this morning - again nothing has changed / moved. I think it is a mistake to sell out so close to news - especially with such a large bid offer spread. A lot of cash on standby now with all these sell outs big upturn to be had & potential squeeze on PEPR & Funding confirmation

Who knows bubble - if the dem were waiting on a response from the aboriginal affairs team (which does explain the delay) they came back to the DEM on 28/04. At a neighbouring mine it took 2 weeks for the DEM to respond directly to the mine, so based on that rough timescale it should be end of this week.

I think a fair few people are holding cash at the moment - might result in a good squeeze on SML if the next RNS is a winner (PEPR & funding confirmation). Yep - Vast peaked on the morning of the following day of the RNS, a large sell off from those day traders following

To be fair SML is at least holding value at 0.3-0.4 ish - and that's more than most of my other growth holdings glad I sold some of my BG global discovery to chuck into SML and average down...

Nobody really cares about this little VR side venture but it's launched today

I suppose any improved awareness around the viability of mining in Cornwall is good - although unsure who's going to be there representing with BG gone - PW probs rocking up covered in Brylcreem wet look gel as usual

https://www.eventbrite.co.uk/e/deep-digital-cornwall-hub-launch-event-tickets-309370534597

Yeah understandably investors that have held vast 5-6 months+ would of only just made their money back, but my commentary was mainly on the size & speed of the movement up over the past 2 days

Similar formula to SML? - just shows there's a lot of cash and interest in this field atm and shows the impact of a great RNS. As good as the Cobre RNS was we're still at P/E ratio of 22, so over average SP based on this sole revenue stream. LCCM would be an increase in net income by around 1700% - an RNS of PEPR approval accompanied by a decent funding strategy would send this up big time

Would the next one be affected by the recent bar date? - Do you have the most recent one prop?

Tbf I do think that the delay is the DEMs fault - they submitted it on the 05/01 and DEM only sent it off to Ab affairs on 25/03 even though it sounds like the DEM has in part already agreed to oxide only - it doesn't help to add this fudge up onto the mound of bod incompetence that's already occured