Member Info for johnleslie

They did recruit Jeff Harrison as a Director on our Board to help with Redmoor, nobody ever mentions JH on here but he is part of the management board and in my view jointly accountable with the other Directors.

Jeff seems a nice chap but did come from Wolf minerals which went into liquidation, so hardly a strong recommendation. I don’t think things have speeded along with JH on the board.

An article in the Guardian today “Private hospitals profit from NHS waiting lists” gives a good write up for Spire Healthcare.

https://www.theguardian.com/society/2021/sep/18/private-hospitals-profit-from-nhs-waiting-lists-as-people-without-insurance-pay-out

Things are looking really positive for the company with profit &reducing debt . I am really pleased Ramsey Health were unsuccessful in their bid, this company has the potential for a success story on its own IMO.

The positive news on US jobs growth above expectations released on Friday is likely to be the reason why US markets moved upwards on Friday. The approval today by the Senate of Joe Bidens $1.9 trillion relief bill will hopefully have a positive impact on Monday and improve sentiment overall. Nothing is certain!
GLA

This article from last month appears to give a good account of the updated holdings for Baillie Gifford.
https://www.thisismoney.co.uk/money/investing/article-9266501/Scottish-Mortgage-Baillie-Gifford-cash-som-Tesla-shares.html

It has been a good one to be in and doesn’t disappoint. Ok it may fluctuate as with any fund, trust or share but it has always recovered well and given strong performance for me.
Although I have a fair chunk of these I do still top up from time to time if have some spare cash. I shall keep for the long term.

I am enjoying the rise, this investment doesn’t disappoint .I have invested several times and added again today.

We may all have our own view which board member we prefer, but it’s not really about that.

The company who has four board members. They meet as a board and make decisions together, JP has made a point of this in the past. In my view all four are responsible for the current abysmal decline and state of affairs of this company.

It’s a shame it’s got to this. The BOD are doing what they can but in my view their previous poor decisions have got us to where we are. It could have been so different. The Q&A came across as being in denial of the past 18 months.

I do still struggle with their role and related renumeration given both Redmoor and LC are going to be farmed out to partners and they have a competent manager for Cobre. They have even farmed out the search for a Redmoor JV partner. I am also not aware of their own experience in managing JV partners.

Those who invested in the placings at 1.4 and 0.45 are below water and we still have an overhang of the approximately 250m placing shares at 0.45 and also LTHs who have indicated they may sell.

I only have a few shares left now which may soon be gone as in my view I see little hope in recovery any time soon.

P2CR, Good points. Jeff Harrison was also bought in for Redmoor due to his knowledge of Draklelands the Tungston/Tin mine that was Subsequently a failure with Woolf Minerals.

The new owner has said it has no intention of developing the doomed Mine.

https://www.business-live.co.uk/enterprise/property-giant-begins-work-doomed-16879762

The question arises why is this guy on our payroll now given the lack of activity and funds for Redmoor.

Yes DVH, knowing JP I would expect there to be significant activity in the background. You will remember back in March 2017 there was a big Cobre sales deal with Galvin that fell through yet within a month behind the scenes JP had been working and announced a replacement being our current major customer who was signed up.
It’s been a difficult time recently as many of the loyal regulars here have pointed out, I am sure JP is doing his best to sort something.. Let’s hope we hear soon.
GLA

Not a good decision by the BOD, A short term loan would not have been too difficult to arrange. There are many LTH here who would have bought chunks of £25k to raise the capital but again and again LTH are excluded. Starting to lose patience with this approach.

As I understood it from JP the replacement customer wanted their details to remain confidential as part of the agreement.

Some 500k sells appear to have take this down. Either our regular or one of bigger investors has perhaps panicked. At these prices it will recover IMO.

As for funding the development I thought the plan was to get as far as we can with our income from Leigh Creak once it ramps up and then involve a bigger player later down the road with development. By investing as much as we can with our own funds we will retain a larger percentage of the mine through to production.

I am now at 2 million.

GLA

R

I like the confirmation today that the Cobre Stockpile has approximately 7 years life.

At the investor presentation way back in May 2017we were told the estimate to exhaust the stockpile was 2021/22 which I assume wold have been based on sales forecasts at that time.

The confirmation is significant in my view giving us a healthy income over and above Leigh Creek for many years to come even if we do end up finding new buyers for the product although I expect the existing buyer to come good after what is a minor blip. All this is of course subject to the continued annual renewal by the operator which given the excellent and longstanding relationship with SMG shouldn’t be an issue.

The SML ownership of 100% of Redmoor was inevitable at some point. The longer it was delayed the higher the cost of purchase of the remaining 50% as value was progressively added and development became closer.
However we will be responsible now for 100% of all risk and costs including the next stage of drilling and PFS. Not the end of the world given our current and future income.
The cost of mine development was also going to be a consideration whether we owned 50% or 100% of the project it is just a bigger consideration now. Our BOD will not have overlooked this and will already have potential solutions in mind for when we reach this point. We know they are regularly in London networking and meeting potential backers.
The reward of 100% of the profit is very significant and is a no brainer for this world class deposit.
Overall an excellent move although we know for many on AIM this will not bring profits soon enough. For me as a patient LTH since 2016 I am very happy with this move. All we need now is for NAE shareholders to approve.
All in my own opinion.

GLA

That’s 4m gone in large chunks. The last time this happened it was one of our regular posters who got cold feet and sold out his trading pot.

Excellent results from Redmoor. However a good RNS for traders too.

2017 !!

The sentiment has certainly changed since I last looked in. It reminds me of early 2107 when this previously took off. The change has been a long while coming but worth the wait.

GLA