Member Info for gorsuch

By their own admission, both Peters and Broome have been having regular talks with the DEM, I cannot believe that nobody ever mentioned the AUD $3.7M. I wonder if they actually did know about it, hence we have hired someone to help raise $10M.

The last PEPR for mountain of light was started by Pheonix in 2015, it was still in process when SML bought LCCM, when it was granted in July 2018 it also had an attached condition.

6.1 Page 3.
https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/image/DDD/PEPRA2810434.pdf

Basically they had to revise the “Plans for post completion of surface water management structures” which obviously they didn’t do because it now appears on the new PEPR, they have known about this problem for nearly four years, so why wasn’t it sorted out.

I've seen more signs of life at a seance.

Although some would say it's the quiet before the storm.

We have all been playing the SML roulette game for the past two years, whenever the BOD have promised shareholders something good is about to happen, have you bet on a positive outcome and possibly bought more, or bet on it being a negative outcome and hence sat tight until something positive turns up. Unfortunately those who backed the positive outcome, have yet to see any return on their bets, but think just maybe!! Next time the wheel spins we will be lucky.

I think you will find that the BOD are the reason it looks discounted.

It's OK having tons of flour, but if you haven't got anybody who is capable of making bread with it, then it's not worth much.

"I could not careless if others do not believe in the board..... Proof is in the pudding"

And we certainly have plenty of puddings on the board.

Evolution is a wonderful thing, they used to use leaches to draw blood, now they use them to draw vast salaries as directors.

It’s all positive now but why is that?

Is it because JP, who has only ever had a fleeting relationship with the truth, tells us so again.
This is the guy that seems to have been on furlough, since long before Covid ever turned up.

This RNS is no different to the fantasy JP has been giving us for years; again it’s just full of words like
Intention, should, subject to, expectation, likely, anticipating.

So far nothing has changed it’s just all words, no concrete substance to it whatsoever.
Why haven’t I sold up and moved on, because I’m just waiting for 0.55 then out the door, probably not unlike a good few more investors.

DVH, this is my post from Oct 2019, do we know if it is the same sort of arrangement JP has now?

""Ironically JP only took $7,000 salary in 2018, most of his remuneration in 2018 came from charging SML consultancy fees of $206,000, a bonus of $133,000 and share based payments of $120,000, so if he gave up his salary it wouldn't do us much good.""

It's basically saying we have no financing in place of any kind, so they have employed another company to find some, also if the DEM like what we have told them they might grant the PEPR in July. It just reads like a list of excuses, plus adding more people to the payroll, what has JP been doing for the past 2 years??

John Mayer obviously doesn't have a text facility on his mobile phone, so it's his own fault he didn't receive JP's detailed time sensitive planning and development information :-)))

Lupi,

According to RNS 1st Sept 2020, Draft submission was delayed because they wanted to make it into a full application.
RNS 10th Sept 2020 states they have submitted a full PEPR.

"Their response was "Strategic Minerals have provided updated documents/reports in response to the government’s request for further information. These documents are in draft format and are currently being revised by the government for adequacy, with the formal MPEPER 2020/032 submission to follow".

Required information requests are classed as formal submissions, I took this as meaning because SML had only given them a few documents at the end of March, that, until they received all the documents, it was a draft not a formal submission of the required further info, SARIG was actually updated immediately they received all the missing documents on the 9th April.

I have a gut feeling the PEPR will be granted tomorrow or early next week, if not then they will probably miss their flexible target.

Hi gorsuch,
You have a new private message from *******.
Kind regards,
London South East
To the well regarded poster who sent me a private message, unfortunately I don't have the premium service so can't access your message.

Blacksheep,

I was made aware that there was some movement in the application, so I went in and took the info from the South Australian Resources Information Geoserver.

As per the schedule published on 31 March.

"It is the Board's view that this is likely to be the final submission required for approval and that this is likely to occur in the second quarter of 2021.

The South Australian Department of Energy and Mining actually requested further information again on the 18th May, SML have submitted their response this morning.

That won't be easy DVH I'm sat in Barcelona.

I’m still invested and luckily sitting at almost break even, plus I do believe the PEPR will eventually be granted, although I have a hunch, knowing how SML seems to operate and the S.A. Dept of Energy and Mining operates, then it’s probably more of an educated guess.

Just maybe it’s SML who are controlling the timing of the PEPR authorisation, not, the S.A. Dept of Energy and Mining, there are various ways of doing that, the request for further information dated 10/12/2020 is still outstanding on the SARIG site, or they could stall the bond payments which have to be covered before authorisation can be granted.

If what the BOD told us was correct (RNS 31 March), normally it would have been authorised within a minimum 2 weeks, maximum 6 weeks, JP’s statement that it is “likely” to be granted in the 2nd quarter has never made any sense, what he was actually saying was that it would probably be at least another 3 months, that just doesn’t stack up because he couldn’t possibly know that.

Why would SML want to stall the authorisation? It’s possible they needed the time to get the bond finance in place, or, even worse still they didn’t want the PEPR just yet, because they hadn’t sorted out any finance for LCCM. But if they are controlling it, that would mean they now know it’s a done deal which should make negotiating the finance a lot easier.

These are just my rambling thoughts while sat having a coffee in the sun. DYOR

When you looked back over all the RNS’s, did you notice whether they have actually ever hit a target, I can’t think of one.

I don't think they are going to do anything to enhance Redmoor profile, if they were then JP would have been crowing about it weeks ago, par for the course.

I don’t have the answer, but how did JP know that it would be hopefully only another 3 months before the PEPR was granted? When normally after any “required info” is fully submitted, it takes on average two weeks for approval, one thought is the bond.

In the past, PEPR’s granted for the mountain of light required a big bond, they amounted to several hundreds of thousands of dollars, obviously until the bond is in place you don’t get the PEPR, just maybe!! JP needed the second quarter to get the money together, because we are not exactly rolling in money are we, but the chances are we will never be told.

Can't beat Gods own country Fira, apart from the rain that is, ironically great minds think alike, I'm going to Sevilla on Sunday for a few days.