Member Info for gorsuch

DVH the board should be bothered.

Basically they have been taking our money for years as wages under false pretences.

That is akin to defrauding all SML investors, which is something no one can be allowed to get away with. I’ve never let anyone get away with it and I’m not about to start now, it’s all down to principles, you cannot take something from someone and not expect to pay a price.

It would be too depressing to drag them back up, especially for some posters on here who bought a lot of shares based on those RNS's, I can't believe we are still paying this band of Ladrones.

This week marks 10 months since we put our copy and paste PEPR application in.

I know John Peters lives in a different time zone to the majority of people on here, but usually that difference is measured in hours, not months like he seems to work too.

One principle I was always taught, is you can give away everything you have if you want, but!! you never ever let anyone get away with taking it, or stealing it from you, if you let people get away with it they will do it again and again.

The fact that we have people who don’t tell us the truth, with the single intention of lining their own pockets at our expense, I believe is covered by the above principle, I remind those people that, yes, you can take it all and run, but none of you can ever hide, modern technology should have taught you that.

A short clip from the 2022 half year results RNS, ( appears our last auditors were spot on )

As the Group is reliant on cash being generated from the Cobre asset in line with forecast, Management has performed reverse stress testing which shows that a 5% reduction in forecast sales would result in a cash deficit in June 2023, without management taking mitigating actions within their control. The Group does not currently have offtake agreements with customers, therefore there is uncertainty as to whether forecast sales will be met.

In the event that there is a reduction in forecast sales at Cobre or LCCM funding is not raised, these conditions indicate a material uncertainty which may cast significant doubt as to the Group's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.

This is a clip from this 2023 half year results RNS.

The Company forecasts that in order to have sufficient funds to meet all operating costs until March 2025, the Group is reliant on cash being generated from the Cobre asset in line with forecast and a funding by way of debt/equity or a combination of both would be required in the last quarter of 2023.

These conditions indicate a material uncertainty which may cast significant doubt as to the Group's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.

The share price is already at deaths door, throw some debt into the mix and it is finished as a going concern.

I've just had a look at the SARIG site again, bearing in mind they only started work again 20 minutes ago, but the information has been taken down, it now reads ( Validation Pending ) again.

Whether they made a mistake earlier, or something has altered the assessment process I don't know.

On the SARIG website it is actually showing some movement.

When they first receive a PEPR application it states ( Details - Deem valid for assessment ) once they believe that they have received all the relevant information needed from the applicant (SML), only then can it be validated for assessment, it now has a validation completion date of 31/08/23.

Obviously it has taken 8 months for the DEM to get all the correct paperwork from SML, if as we were told, the paperwork was just a copy & paste operation, it would have been validated within a couple of weeks.

It now states ( Assessment is pending )

Although what SML are going to do with it when it arrives god knows, I'm hoping someone might!!! want to buy the whole company and actually use the PEPR.

Long time no posts, but good to see your name again Tarry.

I can never get to any AGM’s, because I’m too far away in the southern hemisphere, if someone on here is going could they do me a favour, I would like to ask the BOD a question.

My question is:

Who did Clovis and his dad sell 36,645 tons of Brenda’s magnetite too?

Was it one of SMG’s current big customers?

If so, what impact has it had on sales to that customer?

TIA

It's worth re-reading the RNS dated 29th June 2022, we have now had our last approved PEPR for over a year.

https://www.lse.co.uk/rns/SML/pepr-approved-23ld0s615z03i9a.html

Every word JP wrote in that RNS was just fuel for the gravy train, I don't think they actually want the second PEPR approving yet, if it was, then they would have no reasons left not to start work, the only time this new PEPR will arrive is when they want to sell LCCM.

June 29th, 6 month anniversary of our copy & paste PEPR application, how time fly's :-(

I beg to differ, I can't think of anybody on this forum who would actually vote to keep AB on board, I would certainly vote to kick him out.

The major customer at Cobre has too much stock, hence they have stopped buying magnetite from us until they can run down their stockpile, could the reason be Clovis ?

That begs the question (which I have asked before) who did Clovis and his dad sell 36,645 tons of Brenda’s magnetite too; I can only think it must have been one of SMG’s big current customers, who else could they have found to buy such a vast amount. Plus they probably sold it all at a discount to get rid of it.

Bur surely the 2 mil and the 2.75 mil @ 0.1695 were sells not buys as the price was 0.175

Why did we not get an RNS about this ? maybe our BOD couldn't be ar**d to do an RNS.

Brenda goes to court June 20th.

And it looks like we will get approximately 160k

However, the Receiver has since resolved the disputed creditor claim of Southern Minerals Group. The Receiver has now confirmed the creditor claim of Southern Minerals Group in the amount of $160,000.00, which negotiated amount represents the claim amount that will be attributed to SMG for purposes of a future distribution process when the Receiver proposes a plan of distribution to the Court.

https://broadreachreceiver.com/uploads/1/3/2/9/132950887/2023-05-16_motion_of_receiver_for_approval_of_10th_interim_fee_application_271632253.1_.pdf

I’ve just read an article about hibernation, realised if you change the word bear for BOD, it is still very relevant.

During BOD hibernation, brain activity becomes undetectable, and most physiological functions slow down or stop altogether. However, BOD hibernators must undergo periodic arousals to catch some sleep and maintain their bodily functions. As super hibernators, BOD can go 100 days without periodic arousal.

Monday will be the five month anniversary of our “cut & paste” PEPR application.

No movement whatsoever on the PEPR shangrLa, in exactly the same position it was nearly 5 months ago.

Sounds good until you realise that JP's salary in 2021 was only 12k, he makes nearly all his money from billing SML for god knows what.

This is a bit from the last half year results, even the auditors had doubts about Cobre keeping us afloat.

Interim Results - Half Year to 30 June 2022
RNS Number : 0631A
Strategic Minerals PLC
21 September 2022

AUDITOR NOTES FORMING PART OF THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
As the Group is reliant on cash being generated from the Cobre asset in line with forecast, Management has performed reverse stress testing which shows that a 5% reduction in forecast sales would result in a cash deficit in June 2023, without management taking mitigating actions within their control. The Group does not currently have offtake agreements with customers, therefore there is uncertainty as to whether forecast sales will be met.

In the event that there is a reduction in forecast sales at Cobre or LCCM funding is not raised, these conditions indicate a material uncertainty which may cast significant doubt as to the Group's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.

If further funds are required, the Directors have reasonable expectation based on the ability of the Company to raise funds in the past that the Group will have access to sufficient resources by way of debt or equity markets to meet all non-discretionary expenditure. Consequently, the consolidated financial statements have been prepared on a going concern basis.

If I’m not mistaken!! There is a reduction in the forecasted sales at Cobre, and also, LCCM funding has not been raised, so the auditors knew what was probably going to happen, but the directors convinced the auditors that they could get some more mugs to cough up money if needed.

I would have thought this bit rules out SML.

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