Member Info for Croutom

Spelling errors I reckon prop

Nothing on SARIG or DEM this morning I'm afraid bubble, at the 2 month mark now, I guess my preconceived notion of a quick turnaround was utter guff! Still a hold for me though, news could come at any point.

Not sure why I said sat - started on 16th of Feb for 2 weeks, will probably hear the results over the coming weeks

Also aerial survey around Redmoor started on sat, ties in quite nicely - www.geplus.co.uk/news/digital-underground-tech-project-surveys-cornwalls-geology-from-above-17-02-2023/?fbclid=IwAR2N5bq89krYL8_rJ_oaflsnW3vISHHDOTNWH71yCJ57Qcypq7Mw1aEkir0

On the "bright side" probably better that news didn't come in this week with market sentiment so low. If news comes in on a blue week will be much more favourable for the SP

It won't take long to get back to 0.35p, we've been down here before and done the range from here to 0.35p within a day on no news; I'm sad to see my ISA so low but not concerned. No news & from ShangrLa's email looks like funding still where it was last week & just waiting for PEPR, of which there's been no movement on DEM, so it's just coincidence and low FTSE keeping us down here.

Thanks for sharing ShangraLa - it does fall in line with what we expect. I do feel confident that we're just awaiting sign off from LCCM, they haven't even touched any files relevant to the case yet so i'm sure they're working towards it.

Fingers crossed for next week. Once a full project is granted I believe it'll be a few days after that we'll secure funding. No point selling now at such a loss when we all know that news is close, better to hold with all our fingers crossed and then enjoy a nice summer holiday in the Bahama's with the profits

No movement on SARIG/DEM yet, had a look through yesterday's files that have been accessed and nothing relating to LCCM. Still might be worth a chase to JP so he can check on the status, it has been nearly 2 months since submission, although you normally have to wait till the 3 month mark before they're actually obliged to hurry anything up. I do think at the moment the delay is caused by the DEM just doing their job.

We won't get any sort of funding deal until this PEPR is through, it just doesn't make sense to do so otherwise. One thing I thought this morning is that at this low price point the investor could seize a controlling share and then oust the BOD out, which would probably be a better investment for them, plus they get Cobre & Redmoor for free - but wishful thinking really!

Agree with everything said, if they dropped the director salaries to average $50k each (x4) since the start of 2020 when the SP was decimated we'd have about $1.2m in the bank, which i think would of been enough to start the first leaching surely. But this is all in hindsight, we are here now. DEM will finish their process shortly, copper prices are high and with Cu scarcity looming on the next economic growth cycle we'll get funding at some point.

Oh I'd be happy with that - we've been posting that on this forum for years now though and they're not going to budge on it if they're not forced it seems.

I do wish this PEPR would hurry up - I check the DEMs website every morning and will post if I see something come up on here - last time I notified LSE before the RNS even came out

I don't understand if you're still invested why are you determined to drag sentiment down to the 0.1ps? - You're speaking to people that have been here 2+ years, this is nothing we already don't know, the only strategy I have is that you're trying to reduce sentiment so you can buy in further and reduce your SPA, which makes sense as I feel like there's a possibility of an upswing in the next week or so.

I think as it's been said before, this is a retirement gig for this BOD's, salaries sustained by Cobre, unfortunately cost of living inc is resulting in a slow decline in cash.

At the end of the day BOD have a continuous supply of cash, little work at present and shareholders are kept here by LCCM and Redmoor which will be our payouts.

If a CLN is used for LCCM at least the funders will want terms that benefits the SP as much as possible (post dilution) - by holding a main seat at the table they can hold the BOD accountable for extortionate salaries in the years ahead. I'm not happy about a CLN but I believe that funding in any form will cause us to break up towards 1p

We're coming up to month 3 of the PEPR submission, I have a strong inclination to believe that it'll be approved, copper prices continue to climb so we'll get funding shortly after. Funding deal won't be made until PEPR is sorted.

www.twitter.com/CornwallRes/status/1626151241209327617?s=20&t=PxzNCYiBjHa2u_FpOjLJsQ

In early 2023 Deep Digital Cornwall are carrying out an airborne electromagnetic (AEM) survey over two areas in Cornwall.

The survey is intended to improve understanding of regional geology by mapping the surface of the granite, the regional fault systems, and any associated mineralisation. Airborne surveying is the most rapid and cost-effective means of acquiring large-scale geophysical data for supporting geological mapping, mineral exploration, risk mapping and geothermal energy exploration.

Given the UK government’s current focus on critical minerals, it is also hoped that the survey will represent the first phase of a regional geophysical survey, as part of creating a credible geoscientific baseline to facilitate world-class mineral exploration by the private sector.

www.cnbc.com/2023/02/13/analysts-see-short-term-strength-long-term-generational-shift-in-copper-prices.html

At the moment funding in any form would be of benefit to this SP - even if we got shafted on the terms

Yeah I agree with Lupi here I don't think it's solgold, can't see anything glaringly obvious from the RNS - looks like the majority of their dealings are in QLD rather than South Aus

AGM will certainly be interesting this year, whatever happens,

In a worst case scenario we'll have money issues in Q3 2024, I really think we'll get the full PEPR this week (if the DEM need to ask questions next week).

My concern is if we don't get funding this time round, but given the way it's talked about in the most recent RNS and the fact that the Q4 balances was very delayed I do think that we're on the cusp of receiving a formal offer (I think they were waiting on news to even out the RNS).

If we don't get funding I'll hold. On a full green light project, given the resource (Cu), mining rights and location LCCM PTY LTD & MOL would get bought out for 7 figures ($) at least.

Macio666 - why don't you start formal proceedings then

Very few/nil of us are here for Cobre - On current trajectory we'll be running out of money mid/late 2024; if interest rates in the US are easing then this should bring back demand for construction anyway. Either way in a business as usual scenario we're looking into mid/late 2024 for monetary issues.

If we haven't started at LCCM by then there are fundamental issues with the project, up until now there has been a (snail's pace) line of progression on the project (PEPR) the next stepping stone being approval from the DEM, which once secured will put us in the best possible position to secure funding.

If we cannot secure funding with interest rates decreasing, copper prices at an all time high and a full project there's obviously a rats nest in LCCM that we're all not aware of. In a very last ditch scenario we could sell the project for a few mil and put that funding into Redmoor (at least!).

Hopefully now interest rates are tapering we'll see increased demand from the construction clients - again losing $40k a quarter will result in us running out in a few years - you'd think that we'll have LCCM running by then so it won't be an issue, especially now that funding talks are at the "super advanced-advanced stage".