Member Info for Croutom

Yep - I keep in mind the timeframe of the key things that will kick off development PEPR approval/feedback) being the next stepping stone <28th march. After a full project is granted it's just trying to get someone to buy it/fund it.

Also a bit more ambiguous - feedback for the grant for Redmoor - levelling up, submitted in December - I expect feedback from this with a grant awarded within the year

I reckon clarification may be required on a few points (emails fired to and from) but I don't think further surveys will be required as...

A) the MOP and oxide process has been approved - transitional follows the same treatment/transport/mining process - I beleive that acid run off was the concern.

B) it has been shown that transitional ore has low acid forming capability - this is in part within the oxide PEPR (available online) but probably in further detail in the transitional PEPR (not accessible online yet).

I don't think they'll ask for further acid run off studies if they've done a deep dive on this one - moreso just ask for clarification on a few points if req. Might be a small revision that gets signed off straight away, would make a change for SML hey!

The DEM have to respond to all PEPR submissions within 3 months Lupi

Hopefully BOD have at least chased it during these super mega close funding talks... My thought is that the company may look to purchase it for $10m instead of funding it for $10m but are awaiting to see the full scale of it first... But who knows, everything will become clear once it gets signed off

Nope - MPEPR2022/174 (resub) still hasn't been accessed yet, so hasn't been touched by the DEM. I'll let you know when something comes up. Approaching the 3 month deadline though 28/03 so they have to respond before this date, IE they don't have to grant it by this date, rather acknowledge/ask for more info. Ball's out of SMLs court for this one annoyingly.

Groundhog day with these PEPRs!

I mean what if we find a giant shallow £1bn deposit just a foot under the earth at redmoor following the aerial survey... Surely a few shovels ought to do it

Thanks Lupi - not getting a cent from it, what most of us expected tbh

Even in the RNS' it's indicated that we're not likely to get something from it, despite JP's usual tendency to put a positive spin on everything, it hasn't been factored into the companies finances at all.

At least this should spur an RNS with project updates

Last updated: 15/02/2023

Cornwall and Isles of Scilly have been allocated £132million for local investment through the UK Shared Prosperity Fund. The Shared Prosperity Fund supports the UK Government’s wider commitment to level up all parts of the UK.

I think given CRL involvement with local universities (DDC) and the critical minerals list (plus the size of the pot) we might actually receive a few £m funding from this, probably not enough to get mining but enough to push Redmoor to a preparation stage. Lodged in December so surely we'll hear back from this soon.

www.cornwall.gov.uk/business-trading-and-licences/economic-development/cornwall-and-isles-of-scilly-good-growth-fund/#:~:text=Cornwall%20and%20Isles%20of%20Scilly%20have%20been%20allocated%20%C2%A3132million,all%20parts%20of%20the%20UK.

That's been on repeat for 3 years at SML HQ

Yep soz prop was replying to Lupi, the file hasn't been accessed yet on the SARIG system, so it's not stopped due to issues with the PEPR itself, they just haven't got to it yet. DEM don't have any events until mid-May so I think we're good on the disruption front, 28th march is their deadline to respond - PEPR news will drop any day now

I think the project management team at Redmoor is actually pretty competent, as the majority of the research/project is driven by enthusiastic academics. Hence the aerial survey and the GEOTEK analysis currently being conducted. I think their progress/enthusiasm will be of benefit and result in us getting a grant.

LCCM is not run with such enthusiasm, but the PEPRs in the queue to be checked (sadly despite my bets still not accessed according to SARIG). Let's see if progress "takes off" after it's picked up by the DEM

Could mean that the cost of developing Redmoor can offset the tax paid on the profits from Cobre/LCCM which might be the rise in revenue we need to keep ourselves in profit

Small businesses investment allowance increased to £1m

For smaller businesses we have increased the Annual Investment Allowance to £1m, meaning 99% of all businesses can deduct the full value of all their investment from that year’s taxable profits, Hunt says.

He says he's also introducing "fulll expensing", which for the next three years, with an intention to make it permanent as soon as we can responsibly do so.

He says it means that every single pound a company invests in IT equipment, plant or machinery can be deducted in full and immediately from taxable profits.

Tax boost for smaller and medium businesses

Small or medium-sized businesses will be able to claim a credit worth £27 for every £100 they spend if they spends 40% or more of their total expenditure on Research and Development, says the chancellor,

Further funding given to 'levelling up' - might all be applicable to Redmoor, maybe even LCCM as a UK based company

www.thisismoney.co.uk/money/investing/article-11854239/SMALL-CAP-IDEA-British-tin-industry-return-glory-again.html

Yeah with no debt it's harder to make such a low bid, plus I genuinely think that the BOD are optimistic about the future of the company. I don't think they would sell for any less than 1p per share / £20m

I wouldn't be surprised if the project was purchased tbh - someone could literally buy the company for the same price as funding it

Not we - 'he' (JP/BOD). They though it would be possible to get the project started while we had the transitional PEPR in the queue, but then surprised when they found that there's nothing left in the SML bank account.

If only we dropped wages for the years running up to approval... Short sighted greed resulting in lower long term gains unfortunately. Still, we're here now. If all goes tilts up over the coming weeks I'll vote for no confidence

Because we need funding for production, funding is likely going to be supplied in the way of
a CLN against the LCCM project. Inclusion of transitional ore improves the profitability/lifetime of the project which is preferable for the investing partner; as this is close to being finalised, surely better for the JV partner to wait a few weeks for confirmation from the DEM

As optimistic as I am I think we'd only move to mid 0.3s - 0.4 on PEPR approval, for further movement we'll need funding confirmation - again looks like there's no movement on this super duper close funding approval, but I am still of the inclination that they're waiting on PEPR approval. Understand PC2Rs point that they can put in clauses "funding approved if a, b c" but what's the point if they can wait a week/month for the outcome... Besides if it is a CLN linked to LCCM then they would want to know the potential value of the whole project before committing.

I have strong conviction that our PEPR is next to be graded, but I agree that there is a good likelihood that they'll have to query some of it.

"vox markets" starred out in post