Member Info for london_

@Propinquity - 15,000 metres of infill drilling? I believe it's more holes, but each hole is shallower than recent drilling.

I wonder if SML will have more than one rig to speed this step up as much as possible.

There's still a lot of news to come from this 'phase', culminating in the MRE.

My spider senses tell me that the last cash raise gave enough evidence to the investors that the MRE will be highly positive and that the PFS will (as said in the RNS) be fast tracked.

At that point we can have a NPV and start to re-rate properly anchored to that NPV.

On funding: for my investment time frame - they are (I'd bloody hope) fully funded through to the PFS. At that point, based on a very positive PFS and more confident resource size, I'd expect to see a solid increase on today's SP/MCAP. And that is where I would be happy to sell out at. Maybe other shares pop up for me to look at before then, and I duck out before then, but in my mind the PFS is my major goal. And hopefully that is in 12-18 months with no further dilution.

30p blimey haha

Just 10p would be amazing!

For me, it's looking at:

1) The potential of the asset (or service, whatever it is a company offers)

2) My confidence in the board (based on past performance and action vs words)

3) Cash generation - will they need to raise/dilute?

If all three seem good, then I feel more confident (you can never be certain).

And then I look at the time frame - what news is due?

Maze - TUN has a measured resource and is, I believe, closer to production.

Redmoor is still inferred. But, this will all change soon. So id expect the MCAP to jump at a positive MRE and keep moving up on a positive PFS.

I believe that TUN have an open pit mine - so it's cheaper and easier to get to the tungsten.

There's works on economy of scale. SML works on grades and recoverability.

But. They do not have any regular income. SML do.

I think if you've done your research, no, you wouldn't be looking to sell out for the next 8 weeks.

There's just too much news due in that time frame.

Yeah, it looks like TUN is getting interest.

And it's mine is only just down the road from Redmoor.

Could that provide a further positive to SML?

Back to being offered 2.3p

Opened at 1.95 to sell for me, back to 2.1 and above now. Early tree shake it seems.

TUN using the more up to date Tungsten price of $1313.

I need to be educated here.

If investors put up money, and new shares are issued, do those investors not own the shares?

Unless they sell them?

Reduced time/expenses!

Anything that does this and gets the PFS completed is a big win!

What do you believe the next two months will do to the SP?

More drill results

MRE

Twinning results between CRD036 and RM80_05B & 05C (1980s drillholes) highlight continuity of structures and reproducibility of historical results. This provides confidence for the use of the 1980s drillhole data in the deposit model and Mineral Resource estimate ("MRE") thereby reducing future prefeasibility drilling requirements.

I assume they will do all they can to get through 16,000 m of drilling as quickly as possible. Maybe 8 months or so - what do we reckon?

PFS maybe ready to go by the end of 2026?

That sounds about right IMO.

Maybe II / government involvement earlier in the process??

Let's wait and see what the MRE shows the potential NPV to be and then the PFS. That should give a better predictor of what the SP could re-rate to.

The PFS is the big goal here for me. I don't plan on holding until it makes it's way into production.

- Final drill results from 2025

- Maiden MRE

- Infill drilling (could take many months, depending on number of drill rigs) + results.

- Leading into a PFS

- LC sale