Member Info for hurstyJ

Yep, I have added. Hard not to now!

You should be focusing on the annual cashflows, makes this enterprise value looking daft especially when the payback is only 1 year

Its' already deeply undervalued, imagine if that NPV and c$1BN post tax cashflows actually rise further

Yep it's based on knowns not something new

the pricing conditions though have radically changed and SML are now reporting "exceptional" grades

You're probably referring to John Meyer and yes he has a very good reputation in the city

Great comments MetalMania. Really does demonstrate just how major the upside is here. And agree with DeBreWotNot, let's hope Zeus are about to do the same (i'm sure they realise they need to catch up now!)

Fantastic day, great to read that SP Angel report. Makes the magnitude of the upside even clearer now

Mms are really bidding so would be surprised if we didn't tick up from 1.4-1.5 spread into close

Will be keeping a close eye on what SP Angel have to say from hereon in. A 25% rise today is nice but relative to the NPV and the desperate moves by the US (to secure supply) this remains ridiculously cheap.

Huge volumes, up to 108m printed now. Imagine what that is with all the delayed stuff - 130m+?

For anyone just tuning in:

For anyone just looking in, SP Angel have totally revised the economics here:

“ In the intervening period commodity prices have strengthened to a current APT price of ~US$630/mtu, US$ 10,700/t for copper and US$35,600/t for tin”

“Using current commodity prices and escalating capital and operating costs by 30% to accommodate inflation, we estimate that, using the same discount rate as the company’s October 2020 update, the after tax NPV8% rises to ~US$400m, the IRR is 53% and payback is achievable within 1.1 years“

The previous NPV8% was $128m and and IRR of 29%!!

Some other stocks i'm aware of have materially lower NPVS and materially higher market caps so my view is this will be head to a £75m-£100m market cap in the short term now.

Indeed that's the case. The results to come could indeed build on the $400m.

I also don't think the market is really thinking about the Tin too much either. Have you seen the chart recently? It's not far off multi year highs (which again would be a material boost to the economics).

Bet some of those who sold at 0.20 etc are so sick right now. Gosh this game can be horrible and all rockets.

After this day of revelations i bet i'm not the only one who's looking forward to where these go tomorrow and Friday lol. Feels like a huge cat out of the bag moment.

For anyone just looking in, SP Angel have totally revised the economics here:

“ In the intervening period commodity prices have strengthened to a current APT price of ~US$630/mtu, US$ 10,700/t for copper and US$35,600/t for tin”

“Using current commodity prices and escalating capital and operating costs by 30% to accommodate inflation, we estimate that, using the same discount rate as the company’s October 2020 update, the after tax NPV8% rises to ~US$400m, the IRR is 53% and payback is achievable within 1.1 years“

The previous NPV8% was $128m and and IRR of 29%!!

Yep it's a strategic asset so major.

Agree with previous comments that this won't be trading below 2p for much longer. Well done everyone and thanks to likes of Anna, Prop, stocks, Jane etc for the daily comments.

Gamechanger for SML and the UK

Yeah my targets here have just rocketed.

That's ridiculous, wait until the market see's that adjustment.

I have just added more and wish I had more funds. Thanks a million for the heads up!