Member Info for FreakyZebra

Copper at highs and still no interest in LCCM. At what point does the copper price become a no brainer for LCCM. The copper is there, we just can't get it out. Maybe someone else can.

It's pretty clear it is nigh on impossible for sml to go this alone. Has anyone any views on potential buyers, of who that might be down the line.

I can give 3 reasons why the SP is so low, but in the spirit of over optimism, Ill bite my tongue.

Another cheery day for SML holders. Copper going guns, no one believes we have a copper asset worth reflecting upon, sad times. Responsibility lies at the BoD's feet.

Interesting how JP reiterated twice that PW and JP are in for the long haul. Omitting to mention AB was telling. Clear he isnt in for the long haul.

Are we there yet?

3 Possibilities.

1. It would be classified as insider trading - e.g. JV news due
2. Placing is due, which they will take part in anyway
3. They don't believe there is value at these prices with the state of the assets.

Give it some time Blacksheep - with Manners on board can get to 10% easy. 5% is min required for calling meeting.

John Peters, Managing Director of Strategic Minerals, commented:

"SMG has now received written confirmation of the major client's intent to make payment of over US $4m in the next two weeks which would place the SML group in an attractive position to advance its various projects.

Indeed that was my recall too. The wording is not precise, splitting the "written confirmation" of the clients "intent". How was this written confirmation any different form the 30+ other "written intent" that SML received, that warranted an RNS. Since when does a text message indicate intent especially when the client has used the same trick to indicate intent and failed.

I take this from one of Gorusch post, Im sure he can give more info of what was in this mail from JP:

JP Email:
With regard to the letter of intent, this was initially over text but, this was subsequently confirmed in an email. Either way a documented agreement had been made and any reporting to the market was “accurate”.

From case file

May 23, 2019, SMG’s Peters again asked CVI’s Smith via text message if the bonds had settled. CVI’s Smith claimed she “should have funds tomorrow.” On that same day SMG’s Peters asked CVI’s Smith to formally agree to undertake certain actions to avoid legal proceedings, as follows: I was able to get my UK Directors and Alan this morning and I have got them to agree that, provided, on behalf of CV Investments, you undertake to pay SMG, within two weeks, the $375,000 December payment and top up the existing deposit with SMG by $3,690,000 they will hold all actions for those two weeks. . . . . Please provide, on behalf of CV Investments, agreement to these arrangements.” CVI’s Smith responded “Agreed. Thank you very much. Brenda.”.

I dont follow or agree with this. From what you write, it is OK for the BoD to misguide shareholders - they have received a letter of intent to pay a shedload of money (in SML terms) and we later find out it was a text message that was preceded by 30+ similar "letters of intent". The board must be held accountable, otherwise they will get away with misinforming shareholders yet again - which they did on the latest update. At what point does enough become enough. I say the BoD have gone WAY beyond the line of giving them the benefit of doubt. Frankly if we are protecting other investors from the same experience we have had then I say as shareholders we are doing the right thing. Nothing is going to change unless we force the BoD to be accountable for their actions.

Almost everyone here is massively underwater and hoping for a spike with no substance is going to leave many upset as the rush for the doors will be crushing. There needs to be a fundamental change at the top. Under current leadership shareholders have been led down a merry path, they need to be held to account. No more excuses. I will not stand behind our BoD in its current shape at all.

Touch over 3M for me.

If JP had any balls he would have ousted AB a long time ago. He might actually gain some respect back. I believe it was AB pushing for LCCM.

If I had the time I would put together a family tree of these companies and the dealings they have had and ask the FSA to take a gander at these intercompany dealings. I'm sure if you opened up the books, the companies they are buying services off will have a connection to AB - even the drone survey was his company.

And it all leads to the top - Alan Broome.

They talk about shareholder value....quickest way to double the SP, RNS that Alan Broome has either retired or resigned.

A small list of AB's experiences:

Endocal
Jatenergy
Jupiter Mines
Buccaneer Energy
Solid Energy

AB's track record is available for all to see, either he is forced out or his team resign. Watch the AGM again and tell me he isnt delusional.

https://www.youtube.com/watch?v=9gO8LSv145k

Precisely Lupid, Im willing to bet he has got his finger in the pie of every **** up that has happened here. I cant believe the Manners are sitting here thinking this is a good guy to have in charge of a company with one of the largest TIn deposits in the world.

There is just too much shenanigans between brenda, Jp being a part timer, PW rolled out to keep shareholders at bay at the first sign of an uprising. and AB lining his pockets on both sides of every deal.

oh and, this isnt alan broomes first run in with shareholders:

https://www.smh.com.au/business/fourth-sweep-at-broome-fails-20130410-2hlr5.html

AB and PW busy with this one:

http://mustangplc.com/announcements/05102020%20Half-year%20Report.pdf

I remember someone here going on about how a good copper price is good for SML. Well, its done 0 to take the SP off historical lows, even though copper is at its highest level for almost 3 years. Maybe the SP is reflective of an effectual and dithering BoD rather than anything to do with the assets.