Member Info for Croutom

I like the optimistic and pessimistic balance between Fira and bitcoinbuyer, keeps us all grounded. I am somewhat optimistic on this going up 1p + over the next 12 months. Fact is there was a response from ab affairs yesterday. In 2 weeks a response from DEM. DEM have approved something like 26/27 submitted PEPRs over the past 3 years. I believe that on an oxide only basis there will be approval this time around. Just need that quarterly revenue to bump up from copper and then SP^

To be honest Fira if i passed a ride called helter skelter of doom at a theme park i'd probably give it a go

anyone see my post earlier though - looks like Ab affairs have come back to the DEM yesterday...

After reading the report i reckon it'll be a useful few mil $2 - $3 definitely not in the 10's though

total fees of the law firm $170,406.50 and total fees of the accounting firm are $184,725.00 - they have 20% held back until they complete the case as an incentive to get it done,

http://broadreachreceiver.com/uploads/1/3/2/9/132950887/2021-11-24_doc._137_motion_to_approve_fifth_interim_fee_application.pdf

The thing is the receivership had to find and sell all of Brenda's and CV's assets, i think the current cash balance is about $7m (@ Jan this year - so probably more than this now) - there is a substantial amount of money that has been found but is invested in various companies, they're also trying to sell certain properties, i'm sure we'll get something but it's not as simple as there's a big bank account filled with all of Brenda's money, i reckon we'll get given a figure and they'll have to transfer the money across once certain assets are sold etc - see report below

broadreachreceiver.com/uploads/1/3/2/9/132950887/2022-01-28_doc_162_6th_status_report_by_kdk.pdf

On SARIG - Assessment end date now keyed in for yesterday (28/04/2022) looks like they've finished with it

Note that it looks like this goes back to the DEM to prepare an offer now (assuming AA have signed it off) it took a neighboring mine phoenix minerals 2 weeks to receive it's final response from this point.

bubble if we got the full 21.6 mill 1.2p would be the lowest figure i would expect

DC is that wafts of a Friday morn RNS ?

In line with CVI's Receiver having established, through the courts, a Bar Date of 25 April 2022 by which claims on CVI must be made, SMG has now, formally, lodged its US$21.9m arbitrated claim. It is anticipated that this process will lead to the Receiver making a recommendation for the distribution of the assets, shortly after the Bar Date.

Does anyone with any legal knowledge or understanding of the case know how long "shortly" means? - understandably shortly in SML terms can mean 4 - 5 months, but i'm just wondering if there's any legal requirement for the receivership to give notice of distribution after a certain number of weeks

Afternoon Fira - PEPR is taking its sweet old time isn't it

Lupi that is definitely something that all investors should be aware of and again something which is weighing on the SP- the terms of the CLN will be the basis here and when the VC company can convert it. Personally I believe that JP is getting on now and will want to sell his holding at a decent SP to fund retirement. If they negotiate a minimum conversion term of 5 years + from LCCM production then we will hopefully all be able to jump out at a suitable price point before it's converted. Terms will be everything and the only benefit of this PEPR being drawn out is the fact that it gives time for further discussion and bargaining on the conditions between potential funders.

Slurm that page covers the below
EML: Extractive minerals lease (prior to the introduction of the Mining Regulations 2020)
ML: Mining lease
RL: Retention lease
MPL: Miscellaneous purposes licence

With regard to LCCM's PEPR it's PEPR application is under ML (mining lease) 5467 so this page is applicable to the PEPR reapplied for on 05/01/2022

Always nice to see some positive movement in the SP DVH - it'll be interesting to see how much the PEPR news moves the SP - although i wouldn't be surprised if we have to wait until either a VC partner dips their feet in or production begins

With regard to everyone's uncertainty today about the PEPR being approved is that on the DEM's page below, look at the ratio between mineral tenements granted VS refused... 26 approved & 1 refused.

www.energymining.sa.gov.au/minerals/mining/public_notices_mining

AB should not of given such an optimistic timeframe in the 05/01 RNS, COVID, elections, and I guarantee other larger mines have been pushed ahead of us in the queue - All pushed the timeframe back - still it'll happen when it happens, every morning I check SARIG and it's still with aboriginal affairs, no news of LCCM popping up on local south Australia news websites either.

As mentioned in my prevous post ab affair's turnaround was 6 weeks from start January to mid march 2022 for a neighboring mine (phoenix minerals) so if DEM sent it to them on 25/03 should be May when we receive it back - I doubt it would be a good idea for anyone to pressure aboriginal affairs to a decision so it's just a waiting game.

I'm still optimistic it will get through - it's an existing mining spot and on the SARIG map it doesn't overlap with any areas of historical or cultural experience - we have to trust that the "boost for the project/low acid forming capability" of the mine run off specified in the Jan RNS (which was the main concern) is the truth

I mean I have registered my shares and I will be using them to shake up the BOD as much as possible if there's a vote of no confidence - (Although only 1/600th of a say!) - hoping everyone will rally after a poor AGM meeting.

Any chance that given the small MCAP/demand for copper after showing around VC investors on site there may be an acquisition bid by a venture company?

PC2R - don't get me wrong my optimism is only with the underlying assets, their demand and the ability to mine them, I am 100% up for a BOD shake up

"Discussions with potential funders continue and include a recent site visit. Management considers that the removal of conditions currently associated with the PEPR will act as a catalyst in determining the funding arrangements for the project." - Let's see what's on the table RE funding bids after the PEPR comes in

i understand - the bod is ****e & everyone who has been here long term has their qualms and want to voice it endlessly on this forum - at least my post was nice, refreshing and actually contained some new content

Everyone buying at 0.3 - 0.4p has the SP underlined by profits at Cobre - understand there was a placing at £400k what do we need a further placing for if we're at a profit at the end of each year? Can you tell me? From what i'm aware we've got all the money required from the DEM, Cobre runs itself and redmoor is a piece of land - are you just assuming that the bods are crooks and banking on the fact that they will dilute it for a comfy new office chair? - boring. the quickest money the bod will ever get with their enormous shareholdings is increasing the SP of this company - I believe that it's unlikely they'll dilute further with an AGM in June

Trout if you look at tonnage/revenue we were selling each tonne for $59.30 last year (3 months to march) compared to $62.49 this year. The significance is that over a year the value of the product has increased by 5.4% - with inflation rising this is a good thing. the drop in tonnage produced and sold (this year) was likely caused by COVID/temp supply chain issues & will be offset in future by securing a long term buyer, the stockpile is not running dry as otherwise there would be no point in securing such a long term on access.

I'm happy with this update, it's what we all needed - clarification on what the hell is going on! LCCM The DEM have given its approval, just with the aboriginal affairs team for thier verdict (as shown on the SA database)

Grant for Redmoor sampling and a bit of money from CVI both very helpful for long term