Haha toze, my remarks were a bit tongue in cheek although I am optimistic of a company update very soon. Wake up and smell the coffee? Yes indeed, had a very aromatic and tasty coffee this morning using beans purchased from a recent visit to a plantation in Costa Rica. Lovely!
Morning Prop, maybe its looking forward to a few days chilling on the coast but I haven't felt so optimistic about sml news/prospects for a while. JP didn't even respond to my email early last week (a first), a sure sign that news is due! Might be the medication though....
Most companies publish RNS updates at 7am but not ggp. The next update from various projects could drop anytime...
I'm expecting some news from the BoD this week outlining their (revised) plans for Redmoor and LCCM. An announcement of a JV at Leigh Creek to fast track and/or expand production would be a bonus as would some good news regarding the major cobre client payment/contract. Just got a feeling we're going to have a 'blue' week...
Nice research, some of which I recall when I initially decided to invest here all those years ago. Was looking to reduce my position here a few weeks ago but have ended up buying another 2.4m 'cheap' shares which I was going to trade but have now become a longer term hold.
That is my view too Slurm. If LCCM can deliver anywhere near the $6m annual profit spoken of by JP then revenues generated by this asset will dwarf that of cobre when in full production. Not wishing to denigrate cobre as it has and will continue to be a reliable and stable source of income that more than covers corporate overhead costs. There is no reason to believe that this won't continue many years into the future (remember the magnetite stockpile of 711,000 tonnes estimated in April). The receipt of the $4m from the major client would be a bonus although the current share price/mcap has now fully valued the company on the basis of not getting this money or signing a new/revised contract imo. The BoD also recognise that this is a real possibility hence the ongoing strategic review. I expect an RNS next week...
Hard to believe that the share price was over 3.2p only 18 months ago. The BoD has failed its shareholders bigtime imo
thanks for sharing mark....zzzzzzzzzzz
Bought a few this morning. very interesting company and bleepa could be a transformative product for both the fdbk and the NHS (and other countries!)
Fantastic project if/when it comes to fruition. I suppose, given this is AIM with an investment/trading timeline measured in hours/days, the timescales outlined in the last RNS may be an issue for some. Mr Fletcher has the right idea loading up at what will look like very cheap prices in a couple of years time.
'The Parties will now finalise and agree the joint development program to Financial Close, with a focus on achieving the development co-funding conditions starting with the submission of an updated electricity tariff to EDM and opening up tariff negotiations over the next 6 months'
Come on smokinjoe, you really have to try harder to extol the virtues of this company before the share price hits sub 0.2p....
Wise decision Fira! I have found good health, money and 'hobbies' are the recipe to an enjoyable retirement. The second is a struggle being invested in SML lol
TW was promoting this share as a 'buy' at 1.45p less than 2 weeks ago. What has gone wrong? Worth a punt at these levels or further to fall?
'There still remains clear financing and development risk but we retain confidence having previously spoken to the company – and note also “the Government administration has been expanded at local level to support Tulu Kapi” and “drilling to start at Hawiah Licence of large copper-gold target” in Saudi Arabia next month. With this and, with the shares currently at around 1.45p, the market cap of circa £10 million still a massive discount to estimated Tulu Kapi Net Present Value, our stance remains buy.'
Morning Wolf, one of the reasons I took early retirement was to escape the challenges and hassles faced by modern businesses today. Life is too short! I couldn't possibly offer our BoD any constructive advice on how to sort the major cobre customer as I know nothing about the client and their circumstances and how they might react to any of our strategies to seek to get the $4m owed. The BoD has extensive business and finance experience/expertise (handsomely rewarded!) and, like all other shareholders here, I await the results of the strategic review.
The only thing that is late is the $4m from the major cobre client and that is the biggest challenge facing the company in terms of funding the purchase of Redmoor and progressing the (early) production at Leigh Creek. It just happened to coincide with relatively poor underlying trading at cobre in Q1 & Q2 with a couple of our other customers closed for maintenance. This has resulted in the BoD having to undertake a strategic review to recognise the new financial circumstances until we start generating the 'tsunami of cash' (lol) from LCCM. I would rather we get a coherent plan for the next 6-12 months when it is ready than publish something just to meet an artificial timescale contained in an email rather than an official RNS. Lets keep patient and positive, it will all come good in due course as the quality of the assets hasn't changed. Have a great day....
PS I was Finance Director of a company with an annual turnover of £200m. Does that count as experience of 'running a big company'?
Yep, Woodford is out which is great but don't expect news in the near term following the last RNS. All good for the medium term here imo
Agreed Slurm, lets give the BoD time and space to prepare a comprehensive package of measures which recognise the new reality of restricted cashflows and focuses on bringing LCCM into full production asap. Can't see the share price falling below 0.7p even if it takes the BoD a few more weeks to conclude the strategic review as long as the outcome is one that gives shareholders the certainty we need going forward. They have many more shares than us PIs so no question they want a much higher sp in the medium/long term. Lets stay positive...
to sell my entire holding of 2,066 shares, enough to buy my morning paper tomorrow haha
Exactly toze, we all know why you're still here. Good luck with your buy in price lol
Toze, you've already told us you sold out of sml so don't understand why you are still here....
