Member Info for Croutom

Gorsuch points 1, 2, 4, 6 are all in the PEPR, which is available on the SARIG website (you can google the below ref number that i have provided, it's in the first few pages of the document).

Point 5 can also be found on the SARIG website

This is all publicly available and I've found it through my own googling, I did a fair bit of Background research & digging before investing, I don't tend to chuck money around and cross my fingers, i wish I had the capacity to do so (incoming taunts about me being an idiot investing in SML)

3 is an educated guess, if we can mine the oxide part of LCCM then this will generate a cash flow, the cash can then be used to be put towards addressing the outstanding points of the PEPR, by all means the full £400,000 may fully address all points, but more cash won't hurt

I literally copied and pasted it Fira, glad to see you've started the NY in a positive mood!

Sincerely, PW (your bumbling director)

This, version 9 of the PEPR, reflects the agreement arrived at early with DEM to submit this PEPR as a "oxide only" PEPR, with highlighted statements to easily adjust for the transitional ore case. The Company expects to receive DEM's approval for the oxide only case, which should cover the first 12+ months of production and then follow up with revision 10 of the PEPR, which will address only the additional mining of the transitional ore.

Fair few tonnes in the Oxide parts of the project - hopefully if approved will start to generate some revenue which can be used to process the remaining part of the PEPR (transitional)

Mine manager @ LCCM

Now up to 0.33p which has been the flavour for the past month... Hoping my average of 0.437 yields some return over the next 12 months.

There's some resilience at the 0.3 mark - this is where the shareholder sentiment is, as I said earlier morningstar rates this as a 4 star value stock at this range and this is solely based on current earnings (cobre) and face value of assets.

PEPR resub in Feb I reckon. Arthur hunt needs to pull his finger out rather than liking every post on LinkedIn. BOD shake up would be welcome.

Ah yep - £650k @ 1p - head is not in it this morning, still a decent remuneration for a little bit of (actual) work the BOD's end which is the least we deserve after the last few years of falling SP

On Morningstar the shares "fair value" rating has hit 4 stars which is higher than most other companies in the sector - I think this has put it on the radar for a lot of other investors.

My take on it is that I'm annoyed about the general speed of everything - BOD has been dragging it's heels on this DEM resub, 6 outcomes isn't that much to address.

I guess the BOD's share average is less than most of ours so they'll also want a drastic change in investor sentiment, I understand that they're on £10,000 pm or something remuneration but with JP holding 65m shares if he can get the SP to 1p+ over the next few months it'll give him £6.5m+ which is far greater than his remuneration. Agree that new blood would be a welcome change

Hope you cheer up by xmas Fira! - i'm going to go out on a whim and suggest that the market is used to SML missing deadlines, so i don't expect a drastic drop, even if they lodge the PEPR resubmissions in January,
PEPR = approved Shareprice ^

ooft - i keep reassuring myself everyday that they wouldn't of done a placing if they thought the PEPR was impossible to get - i think the BOD would rather try and sell it on right there and then to preserve share value... so in that instance PEPR = likely > mine-able asset which will then hopefully lead to funding - my average is 0.437, with just over 2.7m shares, fingers crossed for 1.5 - 3p mark post funding and PEPR confirmation

PEPR approval will be the turning point - gives us options, if we don't get funding we can sell a mine-able asset to a bigger firm, i expect an increase upon approval.

BOD understands this and is probably going back and forth with Aus gov to confirm all outcomes are met before resub - I'd rather they spend the time to get it all correct than rush for the sake of an RNS release. The fact that there was a placing means that the mine management team think it's achievable.

Actually made me laugh Lupi

Thanks southwesterner!

I've just looked on google and it's saying that the Market Cap is now £6.58m - i think a few days ago it was around £7.05m - drop in around £400k? Maybe the payment to the DEM has gone out - (for the environmental security bond). Might be chatting out of my A*rse though, but explains the sudden drop in SP...

I think a few day traders must've gotten sick of waiting... I haven't seen that the PEPR's been resubmitted yet so i reckon some are taking their money to other companies.

I Imagine the SML project manager is taking care to hit every mark to get the unconditional approval, waiting game (nothing new here) I don't think they want to risk ruining the resub. They wouldn't of done a placement if the mining team thought the resub was impossible (would of more likely sold LCCM onto someone else).

Can't see anything else in news etc that would warrant a mass sell out, but we'll have to see over the coming weeks. I'm staying put !

Re-submission should go through alright, they've already set out how to achieve an unconditional offer - i imagine they're going back and forth with DEM right now

Criteria summarized below:

1) produce an acceptable way to manage acid forming material
2) change the cover design of leach pads
3) plan for visual amenity (know amount of topsoil required to reduce visual impact)
4) sufficient evidence that the design of the surface water management structures will
be effective post closure in the long term
5) continue to engage with ATLA in a consistent, meaningful, and respectful way (aboriginal heritage)

I'm not an expert, but i'm pretty sure (bearing in mind this area is pro mining) that this will be relatively easy to achieve, designs can be adapted from similar projects in the area. I think we'll have confirmation that it's all been resubmitted in the coming weeks.

If selling the company was on the table i imagine they're going to wait till they get full PEPR approval first - will make LCCM more valuable & seems obtainable given the response from DEM (IE the requirements to meet unconditional approval aren't impossible). I don't think this has been re-submitted yet as they did the raise a few weeks ago and I imagine they'd release an RNS about the re-submission. DEM took just under a month to check the last resub - after the RNS is released i reckon about a similar timeframe.

Good resources, naff directors, only a PEPR resub getting in the way of funding and cash flow. I'm happy the SP has consolidated for long enough & has dropped below its actual potential because of prior mentioned 'naff directors'. Although i'm excited for potential large uplift & want to cash in soon I'm mentally prepared for a couple months wait on the thumbs up on the PEPR (for my own sanity) as sorting out red tape tends to take a bit longer for these small AIM companies. Definitely a hold

https://www.ft.com/content/40907aa6-354e-42f8-8d51-8cc01f0e9687

“In terms of trying to decarbonise the world, the only possible way we can do that is through copper. There’s really nothing else that can conduct electricity as well,” says Jeff Currie, head of commodities research at Goldman Sachs

I think copper's going to be a staple for a while - at least the years while LCCM is relevant, not sure about Tin, if the demand sinks prices will drop and it will become relevant again

No mention of Brett Grist leaving in this update... maybe the increasing potential within this mine will attract a decent board member for CRL, who will hopefully speed things along

i think Lupi's post yesterday was a good summary of what to expect, I've seen Lupi as a bit of a 'realist' when it comes to SML's future. Lupi was predicting a SP of around 1.5p in the best case scenario (funding and PEPR approval) and 0.25p in the worst case scenario (no PEPR and no funding).

Let's say pessimistically 10% chance of best case scenario, 20% of worst and 70% of somewhere in between (PEPR & No funding) - I think PEPR has a good chance as it is a re-submission.

Coming in at 0.44p (my SP) that means that there's a 10% chance my investment will triple at least, with the chance of growing when production starts

20% chance of losing around half - but just have to wait until they sell the dirt at LCCM, which i'm sure will be alright given supply shortages and then we're likely up to original investment (if not over).

Fingers crossed for all!