The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
P2CR - I can't take any credit for the Cobre sales figures debacle, that was Troutisout who ploughed through all the figures, thereby getting them altered.
On the SARIG site, apart from the "Further info required" notices for the 10th & 22nd December, it has always stated "The application has not required re-submission" but now it states "last re-submit date 8/4/2021" it's quite possible the info required in December made the PEPR unworkable, hence they may have re-submitted the whole thing again, that would account for it taking 3 months to do, it's anybody's guess what's happening.
Like I have said before, they didn't lie on the RNS, it was the way it was worded, people just read into it what they wanted to see and hear, for instance it states "has lodged a response" which appears to be a few documents, had it said " lodged THE response" that would mean the whole thing.
Have I checked with JP definitely not, that's a bit like Trump asking Putin did you rig my election, not likely to get an honest answer.
I don't know about anyone else, but to me the following statements give a false impression, to put it in a nutshell, they seem to imply that they HAVE submitted ALL the information requested, also they DON'T need to submit anymore information.
"The submission of the further information sought reflects the on-going dialogue that LCCM has maintained with the DEM and reflects the prudent policies the South Australian government follows in ensuring mining projects are environmentally robust.
"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.
I don't put out information that hasn't been checked, this is a snippet of an information request I made on the 1st April, I received this answer dated the 7th April, although it may take them a day or so to update the SARIG site, you cannot dispute the information on it.
"I understand that a number of documents have been lodged with more to follow.
The PEPR previously lodged remains under assessment."
So much for them telling us they had submitted all the requested PEPR information on time.
According to the SARIG governmental site, the information requested by the DEM on the 22/12/2020 for the PEPR, was only submitted yesterday 8/4/2021 and received by the DEM today 9/4/2021.
The information requested on the 10/12/2020 for the PEPR, which we were never told about, has not yet been submitted to the DEM, so until they get their finger out and give in all the requested paperwork, our PEPR application will just sit on a shelf collecting dust, I knew the RNS was a bag of s****
They are very clever when writing RNS's they never actually commit to anything, that way they can't be held to account, always use a pinch of cynicism when reading anything that comes out of SML.
Here we have two prime examples by their use of the words "Likely" & "Expects"
"this is likely to be the final submission"
"this is likely to occur in the second quarter"
"that he expects PEPR approval, in Q2"
They used all the same words when we got the spurious "letter of intent"
Don't forget there were ( 2 ) requests for information made to SML, one on the 22/12/2020 that we were told about in an RNS, but there was another request made before that on the 10/12/2020 that we were not told about, like I said It's not over until the fat lady has all the paperwork!!
There were a few things about the last RNS that didn’t seem right to me, firstly the time it was released 12.05pm, only 2 other RNS’s have been released around lunchtime in the past 12 months, not counting any of the Price Monitoring Extension or notifiable shareholding ones, they both appeared after they had time to read the forum that morning, i.e. Brendagate, and “Trout’s” Cobre manipulation figures, all damage limitation exercises.
They stated the requested information would be submitted before 1st period end, to tell us it was done on the very last day is just too convenient, also we were told that it would take around another 12 weeks to have it approved, if you give the Department for Energy and Mining “ALL” and I mean “ALL” the information they have asked for, it could be approved within 5 days, to say 12 weeks means they know something they haven’t told us.
After reading it again and doing some more research, I believe the RNS was very cleverly worded to give a slightly false impression.
“Leigh Creek Copper Mine ("LCCM"), has lodged (( a )) response to the request for further information”
It's not over until the fat lady has all the paperwork!!
Not seen any communication from the BOD today, although I’m not on twitter, a simple “yes we have” or “no we haven’t” submitted it would have sufficed.
According to the SARIG site, as of close of business Wednesday 31st March, they have not received any further information from SML.
SML have mentioned several times about responding before this period end, but they haven't actually ever said they “would or could” definitely submit it before a specific date and time.
(The company EXPECTS to submit this to the South Australian government during the quarter ended 31 March)
I have been in contact with the Department for Energy and Mining for a while, I queried why the SARIG page didn't show any mention about wanting more info from SML, they have now rectified that part and also put it on automatic update, although we still can't be 100% certain that what the site is showing is accurate, the reason being what they outlined in this email snippet.
(( SARIG gets its information from other DEM systems which if not updated will not be reflected in SARIG.
With COVID and a large proportion of staff working from home there have been issues in updating some systems.
I’m advised that this information will be updated when staff are back in the office. ))
Sorry to dampen your hopes Lupi, the target date moves automatically every day, it is always 5 days in front of the current day, it's already Tuesday in Australia hence 5 days makes it Sunday, if you check it again tomorrow around 3pm to 4pm it will say target date Monday 5th.
It’s like being sat on a long distance train journey, where I am being gently rocked between optimism and realism, I would like to get off but feel I can’t until it reaches its destination, I know if I jump off beforehand it’s going to be very painful, I’ve paid good money for my trip on this gravy train, on the plus side the other passengers seem friendly.
The trouble with this BOD is that they either won't or can't give a straight answer.
For instance:
We EXPECT to submit it before the end of March
It SHOULD be submitted before the end of the month
It's LIKELY to be confirmed via RNS
Don't they have any positive words in their vocabulary, like "It will" or "We will"
I don't think they will put out an RNS just for that, all they are doing is giving the government the additional info they have requested, it's not really price sensitive information, besides, they would probably have to have a whip round to pay for the RNS.
Fira.
The money to buy the 50% of Redmoor we already had before the 4mil raised it's head, the problem was some stupid pr*t thought she was going to pay us the money, so they spent the Redmoor purchase money at LCCM, hence when the magical 4mil didn't turn up they had to defer the purchase.
That just about sums it all up Lupi.
People being positive about SML are always considered to be good, but people who are negative about the company are deemed to be bad, why!!
Positivity here is based on nothing more than hope, purely because that’s all the company has really left us with, whereas the negativity is usually based on historical facts, which is what brought us to where we are today.
My old boss used to complain that I was negative, my reply was always the same, I’m not negative, I’m just not telling you what you want to hear.
Cornish, I don't know what else I can tell you, I've tried going into various different options, but I can't get it to give me the answers you are getting, can someone else on here try following my instructions, just so I know I'm not going round the bend.
Cornish, this is a link to the web page that you start from.
https://map.sarig.sa.gov.au/MapViewer/StartUp/?siteParams=ApplicationStatusWidget
The following instructions won’t work on mobile phones.
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”
Choose “View mining program assessment status” click start
On the map (Right of centre) zoom into “MARREE”
then into “LYNDHURST” then into “COPLEY”
click on ML5467 (Mountain of light)
All the current information appears on the left-hand side.