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Should be ashamed of themselves. They have lied and kept back important information on the companies assets whilst lining their pockets. The utter gall of JP to go on TV and claim how transparent they are. Whilst organising placings, failures at Leigh creek right under shareholders noses. What a load of rubbish, no John you aren't fransparrnt and frankly I'd prefer to never see your face again!
Not much. Most of the options were at 0.1p so they are sitting on a VERY handsome profit.
Seems that's the only hope of ever seeing 2p again. You never know could have 20mil in the bank by 2021...
Highlights:-
· Sale of the copper commenced with an initial shipment of 5 tonnes of copper cement (approximately 70% Cu).
· Production from the re-activated heap leach pads is continuing in line with management's expectations.
· Total production from the existing heap leach pads is forecast to be in the range of 150 tonnes to 180 tonnes of copper in cement.
This was in May. Why are we hearing in an interim in September report that the heap leach is under performing expectations?
Next news, Q3 and cash balance. JP can you also explain what has gone wrong at LC and what if any is the remedy. Some timescales more aligned to a specific quarter would be helpful rather than a LC operational in 2020, it's only 3 months away.
Not holding my breath. Hiding issues at LC, Wale and Broome are silent for many many months. Until there is a comprehensive explanation as to what is going on at Leigh Creek, we will be valued on Cobre alone and the expected dilution from Redmoor.
The value here is astonishing at this price....We've got reset and have cash coming in from Cobre... After results I expect a tranche of buying support from directors. LC was curiously left it of the talk. I suspect there are negotiations going on on background and after promising much before wth Cobre client, JP does not want to get in that position again. He mentioned they were narrowing down the opportunities so sounds good to me. We'll know when the ink is dry, happy with that.
This is very good news finally. I expect this won't go to court and we'll settle for half. The client wants their name out of the limelight. Payment before the year is out could be possible.
The next RNS is interims, due end of Sept. That is the opportunity to give an update on where the company stands. I expect a placing is being prepared, hence the radio silence.
I would rather the BOD actually announce whatever it is they are doing rather than hiding behind emails to individual investors whilst the share price crashes in silence.
And I can't stand a blind faith investor. You seem to think the directors are coated in teflon and can do no wrong. I have every right to be here and be critical because I'm a shareholder. Whether you agree or not, I do not care. The bod read these forums and it will pay them to read their faults and correct them rather than having a band of cheerleaders egging them on whatever they do.
They may well be busting their guts. But no one knows about it. The last RNS yet again raises more questions than answers. I really hope the "strategic review" which also is conjecture because not officially announced, answers the many questions we have all had.
Thank you for sharing, but unless I see any of this formally addressed in an official statement, it is akin to a nudge and a wink from a salesman. No one saw the placing being prepared right under our noses as well as the cash balances being drastically reduced on lccm which we still have no explanation for. The board claim their transparency but the last week's have been anything but transparent. Rns's have been murky to say the least and misleading, the placing RNS was completely voided by JPs bumbling interview. Why he still does these solo when pw is far more well rehearsed and corrective is beyond me. l maintain the valuation here is about right with just Cobre, but we aren't here for Cobre. This review needs to be clear and concise with no room for extrapolation due to vague statements which do more harm than good.
One other thing is like to note is why are none of the board buying at these knock down prices. Are we not out of closed period? Much cheaper now to get your "skin in the game" bods, or do you want more options at vastly discounted strike prices..?
Some are un answered, some are not. What don't you get?? Cobre alone is worth the current price. My concern always has been the brass of the directors.
Was knocked before for my questions that everyone has asked subsequently. Some have been answered some still remain but at this price, sml is a screaming buy. Not a trader still hold, because it's evident that beside the unawsenered questions, there is still a viable set of prospects here. I do expect capital to be an issue going forward. There are still unanswered questions on LC . Redmoor is done, the plan is in place with or without the cash to support it as I pointed out. The large client is sunk with what appears a cast iron legal case if it comes to it, I expect settlement before the year is out. LC is critical and with the impending update I expect the pertinent questions to be answered. The real discussion is around the bod behaviours. They know they have screwed up. It all began at the agm when they bent us all over with the placing. Frankly the salaries are disgusting when they have ****ed up massively, a token salary going forward as far as I'm concerned. Forget their skin in the game, which was attained as options at a far lower price. Skin in the game is buying in the free market like the rest of us, and it's obvious they don't like doing that. Cut the extortionate salaries. Redo the otpions at sensible strike prices and then begin to rebuild shareholder confidence. I'd like to know where our illustrious Peter Wale is, seems like he's more interested in his other business interests these days.
You really are delusional! Tough questions that no one can answer and resort to personal attacks.
I know more about this company than most of you! It's clear no one actually has a clue!
Only one poster worth his salt, he knows who he is and is now strangely absent!
Kindly answer the questions rather than personal attacks?
What was £1M spent on LCCM for exactly?
How much more £ is required to bring LCCM into self sustaining production?
Why did we agree to buy Redmoor NAE with no money to buy it (we were busying ploughing in the £1M to LCCM)? So we never had the cash in the first place?? Absolutely bizarre.
Why is the NAE rework taking so long? Is it because we are Issuing even more shares to buy the remaining 50% Redmoor (I suspect this is the case - expect more dilution NAE onwers to get a stake in SML as part of the deal)
How much is litigation going to cost against the mystery client?
Another raise coming. What a joke.
Fira you are right, JP said the same thing yesterday. Provided they get the 4m they won't need to raise again for some time is what he said. Well if they don't get the 4m they will need to raise again.
Tucked away at the bottom.
In March 2019, the Company, entered into arrangements to acquire the balance of the Redmoor Tin and Tungsten project in Cornwall, UK which has now expected in the first week in July 2019.