Member Info for FreakyZebra

@mutley. Jp acquired around 40m shares at 0.001, directors are still well in the money on their options. They are not down, far from it.

How about the share price drop by 40% in 6 weeks. That's materially significant to all shareholders. Evidently the bod are yet again quiet when things are not as rosy as their podcasts try and make out. Silence is not the answer. Truthful updates on the situation of the business are. Did we make the payment to NAE in Jan? They let us know that every time previously, do we have the cash to make the April payment? Have the negotiations progressed regarding funding? Are NAE going to be issued shares to the tune of 1m Aussie dollars? Anything they say in a podcast is heresay RNS must be factual.

Need an update on cash position, arbitration, pepr submission and what is going to happen to Redmoor final payment. A plan for the next 12 months wouldn't go a miss. Let's hope it's better than crossing fingers for a windfall from arbitration or placing at 0.3p

Dvh I think it's clear there isnt anything material going on. How long have they been looking for finance now? 9 months? 9 months and nothing positive to show from it. Lccm has ground to a halt. Did we submit the pepr, where is this arbitration date? Painfully quiet, presumably to save costs of an RNS!

I fear for humanity when people believe the fantasies in their head.

I think they made it pretty clear in the RNS of the deal. If we dont pay in cash we pay in shares.

We could win arbitration against the major client, who just so happens to be a big MNC and then we walk away with 20m dollars of which 50% is paid back to shareholders and the rest brings LC online, just in time to see a resurgence in copper prices exceeding their highs. Stranger things have happened, in fairytales.

That's what the BoD believed, Slurm. Even knowing they were wrong, spunked all the remaining money on redmoor! Which will generate zero income for years, terrible management.

Around that Fira. I guess there are costs associated with arbitration also, no idea when that hits cashflow...no win no fee???

Fira it was 300K Aussie dollars which is 200K US.

Come April 31st WE will be running on fumes with I expect less than 200K US in the bank. They had $520K at the end of the year. They have paid $200K of that end of Jan and another $200K is due end of April. That leaves $120K. The final payment to NAE is $1.2M US.

12% or so of the mcap.

We then need a further minimum $3.5M US to start to get LCCM up and running.

35% of mcap

That would need a miracle of a deal to pull us out of issuing new shares for Redmoor as well as a further dilution to get LCCM up and running. Rather than mitigate damage to shareholders I expect we will get done over yet again this year.

I am fully expecting a dilution of 50% this year and for loyal shareholders to get shafted followed by further ramping from the board once they get their hands on the cash. If this company comes good it wont be for the next few years at least and that is assuming they can actually get LC to generate the cashflows they think. Naturally given their track record, I doubt.

There will be no real news until they have the cash call to make. 3 months left!

No not "required". Its SML's plan that it will need that cash to start up SML 2Mil working capital and 1.5M capex. IF we have to raise thats a 33 % dilution, to get it up and running and payback in a year.

Yes JP explained it on proactive video. 2 months since the interview and said he was quite close with a few parties. Pepr to be done. Not sure how the bush fires have effected things but I imagine there is some disruption. They anticipate approval in June. I can't see funding being secured before that in all honesty so expect a placing in the interim. Maybe the Manners have deep enough pockets and an interest to pick it up without massive discount.

We will get news this week I'm sure on redmoor payment, they've announced every payment. Hope fully cash balance update to clear up we can make April payment. Or of course they may pass up payment and renegotiate terms. Arbitration and funding is the most likely news to get this moving again. To be honest I'm resigned to a placing if it means we can get lccm moving. Although it would be a hefty dilution for the money they need. Have thy submitted the pepr yet...

We I'll be out of cash to pay the 1 million we owe after paying the next two installments due end of this month and end of April. No point trying to dress it up. We've agreed a million in June. We won't have it with the current cashflow we have, so where is it coming from??

Of course they could restructure the last million Aussie dollars over another year paying 100k a month or so. Cobre would fund it that way and we'll be in the green.

Until the cash situation is resolved there isn't much to hope for. We are out of cash in 6 months with final payment to make.

Let's hope JP hasn't been talking funding arrangements with Seawave Invest for the last few months .

Just a need a double up here and Fira will be happy as Larry.