Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Ironically some people pay for his wisdom, John Peters has been a part Time Lecturer at Macquarie University in Sydney since July 2016, apparently he teaches Investment Management courses to Actuarial Students, so not long now before the Australian education system crashes and burns.
Croutom.
Whether you are Peter Wale or not it doesn’t really matter, because most people couldn’t give a toss, but you are definitely linked somehow with SML, because you seem to know too much about things we haven’t been told about.
For instance where did you get all these bits of information from? they all appear in your posts but not in any RNS’s that we have been given.
1) PEPR4735539 (( Where did you find this reference in the public domain ))
2) With a few outcomes (5) left to address on the PEPR (( Where does it state 5 conditions still to be rectified ))
3) if approved will start to generate some revenue which can be used to process the remaining part of the PEPR (( Who has said £400,000 is not enough to get the full PEPR ))
4) continue to engage with ATLA in a consistent, meaningful, and respectful way (aboriginal heritage) (( This is the correct wording, but not what was said in the RNS ))
5) DEM took just under a month to check the last resub (( Where does it state that ))
6) I hope that a PEPR resub is pretty easy bearing in mind that the Aus government have told them the issues and how to resolve (( Where did it state they have been told how to resolve them ))
I belive all the above are possibly correct, but have never appeared in an RNS.
I can't fault your sums on any of the scenarios Lupidog.
My thoughts about the scenarios.
1. We get finance and PEPR.------ That’s what dreams are made of, hopefully!!
2. We don't get finance but get PEPR.------ At least that would make it easier to sell LCCM.
3. We get finance and don't get PEPR.--- I can’t see this scenario is actually possible.
4. We don't get finance or PEPR.--- We are all doomed Mr Mannering, doomed I tell you.
"apparently part of the $400k will be used for the first few months production - so we don't have to wait for payment of the loan to get the wheels in motion"
Either JP is not keeping you up to speed, or someone is lying to us?
(RNS 25th Oct) The proceeds of the Placing will be used primarily to complete work required to satisfy conditions placed on the current PEPR associated with the Paltridge North deposit at the LCCM. In addition, the funds raised will be used to assist in the working capital requirements associated with funding Cornwall Resources Limited's ("CRL") portion of the DDC project, where the funding rebate process is taking longer than expected.
Croutom, Go back and re-read the email you posted from JP, you will notice what you have just posted is a total contradiction as stated below.
"The major funding requirement is paying for the three to four months of mining before revenues commence"
Dotcom that’s a big ask, I could try find out which bank it is/was, but I could just end up chasing ghosts and figments of JP’s imagination.
Looking back at a couple of the latest RNS’s, it reminded me of an old saying, banks will only lend you money, if you can prove you don’t need it.
RNS Fri, 8th Oct 2021 07:00
(JP) US $10m loan facility to LCCM, guaranteed by the Company, are being progressed with a top global bank.
With a market cap of only £8m (US$10.8m) what is the company going to use to guarantee the loan, bearing in mind we won’t have any production, because we can’t start work until someone gives us some money, anybody know the answer.
(JP) The bank has been undertaking due diligence
Should this not be ( is ) instead of ( has been ) the past tense makes it sound like they have already finished.
(JP) the Board is confident funding will not further impact the revised timetable to production.
RNS Tue, 26th Oct 2021 07:00
(JP) production at Leigh Creek which, subject to finance, is expected to commence in the first quarter of 2022.
Two weeks earlier JP said funding would not impact production.
Whenever JP puts anything into print, it always ends up contradicting the last thing he said.
I don't think AB would want to revisit the site of his abject failure, the fact he managed to find some gullible people to buy his half, that's what helps him sleep at night but if that doesn't work, he probably counts the 000's in his bank account and goes to sleep contented.
This is what CRL has to say about Brett.
Brett is a southwest based Geologist with more than 20 years’ experience in exploration and mining project development.
He has played a leading role in projects in Europe, the Middle East, and Africa, including in taking projects from early exploration through feasibility and into development.
That doesn't sound like someone who is not proactive, so what insider information do you have to come to that conclusion, all his recent interviews and talks don't give that impression. Sounds more like he got fed up of working for a non proactive set up, if as you say he was useless at his job, why has Kavango so eagerly employed him.
It's very rare you see the words "SML and Proactive" in the same sentence.
Jam2morrow,
Brenda did indeed pay for more magnetite than she actually collected, so what is the problem you ask, the problem is, our inept BoD spent all the money put aside for buying 50% of Redmoor on LCCM, because they stupidly thought Brenda was going to give them another $4 mil, since then we have been in a death spiral.
She didn't sell it on, I believe she had it stored on a ranch? but when she stopped paying for the storage, the ranch owner sold it to cover his losses.
It can't ever be SML's again even if it were still there, because she paid for all she received, in fact she paid for more than she actually got.
Thanks for the link Prop, there’s some interesting information on pages 36 & 37 of the receivers report, it concerns Richard Galvin and all his associated companies, this is the guy who I first thought was our major client, but then after I found Brenda I never gave him another thought.
Galvin has always been a crook in the business world, twice that I know off he’s been found guilty of blatant breach of contracts, even so, someone at SMG or SML still signed a contract with him for 350,000 tons of magnetite over several years, at a minimum of 2,000 tons per month.
That deal fell through, because he couldn’t supply a letter of credit for a mere $100k, so he then put forward Brenda to do the deal instead, by doubling the monthly amount to a minimum 4,000 tons per month, SML couldn’t sign up fast enough.
Nobody to my knowledge has ever explained what Brenda and Galvin had to gain; she bought the magnetite by paying up front, then paid for the storage but never actually used it, so for an experienced con woman that doesn’t make much sense.
If somebody had done some due diligence, or even just Googled Brenda and Galvin, they probably would never have signed these contracts, or taken their word about paying up, although the real crime here is our BoD spending the money we never had, or were ever likely to get.
SMG filed a Petition for an Order Confirming the Arbitration Award in the District Court, but the Receiver filed a Notice of Stay in that action.
Until the receiver removes the "Stay" our $22mil is null and void, without a courts decision to confirm the arbitration award, it's worthless, hence I don't think we are even in the line for a pay out.
Dilution of 1.2bn shares to 2.1bn shares doesn’t look or sound much different, but when you break it down to an extra 900 million more shares been issued, then ask the question what have they actually achieved, apart from lowering the share price to make it look like a multi bagger in reverse.
Quote: one doesn't need a global bank for SML level finance....................
I quite agree, I have bank accounts with HSBC and Barclay's in the UK, they are both classed as " Top Global Banks" and yet I could go to either of them for a 50k loan, but even that amount would require them to do a modicum of due diligence.
JP said, "loan facility being progressed with a top global bank"
Basically he said that to make it sound more like some worldwide mega bank deal, just to make it look like he had done something useful with his time.
There’s a problem with that scenario Lupidog, if the bank comes back with a big fat NO, the BoD are never likely to tell us the truth.
Can you see the BoD putting out an RNS that’s negative against themselves? I can just see it now.
Dear investors, we inform you that the bank has said no, the reasons are they say that the mine is a dud, also they thought the BoD were a group of money grabbing fairies living in cuckoo land, but the good news is we can keep the Due Diligence report, which might come in handy and they won't charge us for it.