focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Nobody with so many ties to various companies and institutions can give his best to just one company, as Prop said, he is basically a wage sweeper.
https://www.marketscreener.com/business-leaders/Alan-John-Broome-077Y74-E/biography/
According to John Peters Broome was brought in for his coal expertise!!!
It's not often you see the words Broome and Expertise in the same sentence :-)
https://www.youtube.com/watch?v=pg6OOvct0fY
""values $2m below book have 3 assets , one producing and earning and no debt""
I think we actually only have two assets, neither of which is near producing anything.
Cobre is someone's asset but it certainly is not ours, we just get to use it until we are told otherwise.
The vast majority of the magnetite that Brenda took was never used, it was delivered to a storage facility and will now be classed as part of her overall assets, I can't see anybody else wanting to buy it, hence the administrators may well tell us we can have it all back as part payment, although the last thing we need right now is more piles of black rock.
Taken from full year 2019 results.
"The Company and the Group's reporting currency is US dollars reflecting that, previously, the Group's revenues, expenses, assets and liabilities were predominately in US currency and, currently, the bulk of revenues continue to be sourced in US" dollars.
Obviously the BOD would be crazy to do a raise at these prices, but if they put a lot of effort and spin into it and used every tip and trick in the book, then they could well get the share price up at a level that makes sense to do a raise, unfortunately none of that scenario is based on any solid foundation, hence after the raise the share price would just tumble again, whilst the BOD spent the next 6 months spending the money.
"" the end of this year seems a reasonable time for me to assess their effectiveness - they have around four months.""
The problem with that is we cannot get a PEPR licence for at least four months, so there won't be any significant change to the status quo before your assessment time is up.
I found this snippet about the mountain of light when looking for who we used to drilled it.
( Two years later in 1972 it was Bridge Minerals Pty. Ltd. and Aurora Oil N.L. who did a geological reconnaissance of the area. They drilled forty holes at the Mountain of Light. Samples were collected every five feet from each of the drill holes, and sent to McPhar Geophysics Laboratory in Adelaide for analysis by the atomic absorption spectroscopy method, but the results did not seem to warrant any further work.
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 cannot 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 copper miners anymore, but they still are a mineral paradise for geology lecturers, geology students, history students and rock hounds alike.
Trout, ""As for the rest of the RNS they seem to have realised that the LD/L part on the PFS didn't have real costings""
This is what they gave us regarding the PFS.
""A Feasibility Study (“FS”) for the Leigh Creek Copper Mine was completed by Terra Consulting in November 2016
and compiled geology, resources, mining, processing and marketing relating to the project. The FS focussed on
treating oxide copper initially from two open pits (Lorna Doone and Lynda). This processing plant has a nominal
capacity to produce 2,200 tonnes of copper per annum, but the feasibility study identified a very low capital cost
option to increase capacity to 4,000 tonnes of copper per annum. Additional resources from the Paltridge North
deposit were not included in this FS and will be assessed by SML for potential upside. The FS has demonstrated
a robust economic return using conservative price assumptions""
At least I can sleep at nights knowing what they told us many moons ago :-)
""In October 2017, the Company signed a term sheet in relation to the acquisition of LCCM which held the mining rights to a copper mine in the Flinders Ranges of South Australia which was subject to a number of conditions precedent including "due diligence". The mine had not been operated since 2011 and the "Company UNDERTOOK EXTENSIVE due diligence" which resulted in it finalising the terms of the agreement and exchanging contracts in January 2018""
Whilst the BOD are sat on their backsides for the next four months waiting for the PEPR, they might consider going back and reading all the RNS's they have given us over the past four years, any normal person would feel ashamed.
Lupidog for your info.
Strategic Minerals PLC (LON:SML) is ready to go with its first drilling programme at its tin and tungsten project at Redmoor in Cornwall.
Energold Drilling will drill 13 holes drilled in the first phase to be followed by a second phase of 10 additional holes. There is provision for a further six holes subject to additional planning and land owner approvals.
Council approval has come through and the first exploration hole is expected to be drilled at the end of the month.
Peter Wale, a director at Strategic Minerals and Cornwall Resources Limited, said: "The early commencement of the drilling programme is a key milestone in our plans to develop Redmoor into a producing mine.
DVH
I'm in the same position as you regards exit at 0.60+, I originally bought in @ 1.95, then sold out completely when the RNS about letter of intent came out, luckily I sold @ 1.70 so no real loss, but I decided if it ever went down to 0.60 I would buy back in, which like a mug I did, so I'm now sat at 0.59 which is a lot lower than most, so I can't complain.
""I guess we will have good news regarding the License early next month too""
For LCCM to be at all viable, BOD said they need approval to mine the larger Paltridge North deposit, so until the government actually says we can dig a hole LCCM is dead in the water. Regardless of the amount of words from the BOD about progressing a JV, who in their right mind would consider a JV with SML who has no mining licence yet.