The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Sorry I have to disagree with you Cornish, it is not for the trial works at MoL in 2019, it was submitted on the 10th September 2020, hence the application number MPEPR2020/032, it would have had a 2019 prefix for the trial works.
The only tenement covered by the current PEPR (MPEPR2020/032) is tenement ML5467 (Mountain of light)
https://www.strategicminerals.net/projects/leigh-creek-copper-mine.html
Is that Australian dollars? if so, at todays exchange rate that works out at approx 3.58mil pounds a year over 9 years, if that is also pre tax, then obviously it's even less per year. So based on the price of copper when we bought it, it wasn't really much of a viable economic venture to start with was it?
It took me a while, but here is the status for the Mountain of light PEPR.
https://map.sarig.sa.gov.au/MapViewer/StartUp/?siteParams=ApplicationStatusWidget
Here are the instructions on how to access it.
Click on menu (3 horizontal white bars at the top)
Click on “Mineral tenements”
Click on “Mining tenements view” this takes you to “Administration eTools”
“View mining program assessment status” click start
Zoom right into Leigh Creek (Right of centre), click on ML5467 (Mountain of light)
All the current information appears on the left-hand side.
Unfortunately Sammybow SML never give us much information, so all we can do is gleem snippets of information from around the world and try make sense of it, sometimes the context is obvious like (Brenda gate) other times you just have to add a bit of logic and guesswork, give it a stir and see what comes out.
Not that it really matters, but I just need to rectify an error in my previous research.
The new exploration licence application is to replace EL6278, for some strange reason SML let it expire on the 8th July 2020, then 12 weeks later on the 5th October started the process of applying for it all over again, why pay to start the process all over again? they could have just renewed it for another year, smacks of incompetence.
I answer to your question Lupidog.
""Are these areas new to SML (as I cannot see them mentioned anywhere else but I may be missing something obvious)?""
The exploration application I found yesterday already has licences for it?? LCCM hold three tenement licences for that area, EL6377 and EL6378 both of which run out on 25/7/21 unless renewed, also EL6279 which runs out 6/6/21 but has already been renewed for 1 year. I don't understand the mechanics of it, but it looks like they are dumping the old licences and trying to get new ones.
EL6279 had these notes attached to it, which looks like someone wants money that we haven't got by the end of March.
EL6279
1 year renewal. The conditions contained in the
Exploration Licence with the following variation of
Schedule B, 'The amount of $80,000 is to be
spent on exploration during the period
07/06/2020 to 06/06/2021', all previous
exploration expenditure commitment being
deemed to have been met.
The expenditure shortfall of $111,000 from the
previous licence term is deferred, and will be
required to be addressed on renewal of the
exploration licence.
EXEMPT the tenement holders from the
obligation to comply with the expenditure
commitment set out in Schedule B of their
respective exploration licence conditions from the
date of this memorandum for a period expiring
on 31 March 2021.
There are some interesting snippets in the PEPR granted to the mountain of light in July 2018, surface water would appear to have been a problem, plus it shows just how much information is required to get a PEPR.
https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/image/DDD/PEPRA2810434.pdf
Below the messages on here there appears a link to SML's website, along with what should!! be a short factual statement.
"Strategic Minerals Profitable Mining and Exploration" >>> Debateable
"Production of Copper Tin Tungsten Nickel Laterite Sulphide Cobalt" >>> Not producing anything
"Listed on London AIM" >>> Yes it's true
"Mining in Cornwall, New Mexico, Australia" >>> Not physically mining anywhere
Obviously doesn't come under the trades description act :-))
https://www.legislation.sa.gov.au/LZ/C/A/MINING%20ACT%201971/CURRENT/1971.109.AUTH.PDF
Page 59 gives you the details about section 28 (5)
It basically looks like it refers to land that is open and available.
https://www.southaustralianhistory.com.au/light.htm
It's the last paragraph that gives the killer blow.
""The Mountain of Light is still full of copper, as are the mountains of the Northern Flinders Ranges. Unfortunately, no matter how complicated the methods used, or the state of technology, it can not be mined economically, which means at a profit, if it is not there in sufficiently concentrated quantity AND quality. The Northern Flinders Ranges may not provide work for copperminers anymore, but they still are a mineral paradise for geology lecturers, geology students, history students and rockhounds alike.""
Bitcoiner, the dates you are referring to are the "Target completion dates" which mean nothing, if you look at the target date for the assessment completion process it states 23rd December 2020, yet we are in February and it's not completed.
Bitcoiner, I read it differently, if you click on the blue reference number (2020/00171) on the left-hand side, it brings up a pdf which states that it was sent to the Aboriganal affairs on the 13th January, but it was only received today 9th February, maybe just a very bad postal system.
https://map.sarig.sa.gov.au/MapViewer/StartUp/?siteParams=ApplicationStatusWidget
Firstly zoom into the map right of centre, look underneath Lyndhurst you will see Leigh Creek, underneath Leigh Creek click on the number 2020/00171.
On the left-hand side, it will then give you the dates and timings for the PEPR application.
Personally I'm not sure that we can actually produce anything from LCCM, even if a fairy godmother gave us 2m, we have never seen any proof that they can make it work, let alone make money out of it. There are probably pi's on this board that given a month could actually borrow 2m, so I don't think that is what's stopping us moving forward.