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Agree with you on the BOD but the assets will more than carry them through. Let's see the fruits of the Cobre marketing campaign which comes to a close on Tuesday. Cash of $600,000 in Bank, no debt and 3 super assets. A takeover is not out of the question now IMO. An easy integration for a buyer who can slip Cobre into their current infrastructure and offload the Board which would give the new Buyer nearly $700,000 of PBT just by offloading the BOD. I'm pretty positive FIRA despite the obvious.
A positive week coming up me thinks. Current cash at bank is $600,000. CASH SITUATIONFinancials and OperationsAt 31 March 2022, the Company's non-restricted cash balance was US$0.615m (31 December 2021: US$0.611m).News overdue on a windfall bonus for the company following the receivership process.NEWS ON WINDFALL CASH SOONCV Investments LLCOn 22 February 2022, the Receiver for CV Investments LLC was successful in getting the United States District Court, for the Financials and OperationsAt 31 March 2022, the Company's non-restricted cash balance was US$0.615m (31 December 2021: US$0.611m).District of New Jersey, to enter an Order Establishing Claims Procedure and Setting Claims with a Bar Date of 25 April 2022. This will involve the Company's wholly owned subsidiary, Southern Minerals Group ("SMG"), lodging a claim for US$21.9m as per its recent arbitration. This development is encouraging and may indicate some sort of financial result for SMG before the end of the year, although there is no guarantee as to timing or amount.NEW 5 YEAR COBRE DEAL - MARKETING CAMPAIGN COMING TO A CLOSE THIS WEEKENDA marketing campaign comes to a close this weekend to explore long term contracts for COBRE now we have a 5 year rolling contract in place. This could be very fruitful for the co.Given that, historically, March and early April are the busiest times for operations at Cobre, a concerted marketing program is being planned for May of this year.I also believe our PEPR approval will come through next week. Current cash is good, windfall cash imminent, Long term Cobre contracts to be announced following marketing campaign, PEPR approval next week. Redmoor no idea.
Its Just more JP hot talk when being interviewed. I would rather see a full takeover with fresh management that know how to realise value from our assets. Cash and Paper deal would allow us to share in that upside potential and benefit from the skillset of a good Board. We all know the 0.35p share price is absolutely ridiculous and true value is closer to 1.3p. Lets get LC over the line first.
Despite the volatility in markets , Small cap miners have been performing well. SML has yet to many any kind of a move but thats about to change. Leigh Creek approval gets this moving , cash inflow from Receiver will be useful. JP advised proactive he is considering listing LC on Australian stock exchange. Meantime housekeeping issues have been addressed - 5 year rolling deal at COBRE, Extension of Redmoor. I think those attending the AGM should be pushing for.a sale of the group. The current assets are worth considerably more than our market cap but thats more to do with poor management rather than the 3 assets we hold. They only way to fully realise full value is to press for a sale of the group - this needs to be high on the Agenda at the AGM not some comment that is brushed under the carpet. If the Board cant realise value then let the open market realise it for us. You cant say they've not had enough time to crate value.
8 weeks until the end of the first half never mind Q1. You would honestly hope some cost saving measures are WELL ADVANCED and this BOD will update those cost saving plans to the market next week. We have good assets on the balance sheet but we need a Team to realise them. I still don’t understand why we raised money to increase our stake in Cornwall, F madness. I wonder who’s decision that was? Anyhow, we could go on and on about the mistakes, poor decisions and execution. Hopefully they can start to be honest with themselves for once and stand down immediately to save company funds and pave the way for a value enhancing Board who can realise value from the assets.
Bubble £21m would be worth around 3p alone. We never going to get that so be real. We will head bar to 2p that I’m sure of but had we a better management team we would already be there. Making out the 21m is some kind of deal they’ve pulled off is again arrogant. They exposed themselves with no risk management procedures and have wasted valuable management time trying to get their money back They lost. Nonetheless the company has great assets and they are worth 2p IMO. Worth possibly 5p with the right management team. It’s important that once PEPR comes through this board is changed for the good of the co and it’s shareholders.
Small cap miners have performed very well during the firs quarter of 2022. Investment Interest has been brisk with some miners up over 100% in the 3 month period (MILA for example). Meanwhile over here at SML the key focus will be to close the office at 12 noon today ahead of the bank holiday weekend. Arrogance springs to mind.