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They didn't manage anything with LCCM when copper was $10,500 Prop. Its back up to $9,750 which is way past the $7k original plan.
"Shovel ready (Oxide PEPR approved 29 June 2022)"
"Copy and Paste"
"Negotiations on planned funding of the restart of production are at an advanced stage"
"expected re-opening of operations at Mountain of Light in 2023"
"respected global bank"
"The Company is confident that 2022 will see the recommencement of production at Leigh Creek"
"mobilisation and mining in the third quarter of 2021"
"will provide significant on-going after tax cash flows from 2020"
"an opportunity to start copper production potentially earlier in the first half of 2019"
"approved the Mountain of Light Program for Environment Protection and Rehabilitation on 20 July 2018"
"(27 Feb 2018) Production rate of over 200 tonnes of copper per month expected to be reached in approximately one year"
"The outright acquisition of Leigh Creek Copper Mine for an up-front payment of AUD $3m is a significant step forward for the Company"
Prop. I would opine that the Exclusivity and Prospecting Agreement with The Duchy of Cornwall carries some significant weight in Cornwall. I would expect it to be a factor in the decision making of the grant. The council should be more favorable this time around, given their input on the reapplication.
The bond was known about. It was part of the approval process. The approved PEPR is a watered down version of what was originally applied for. We had to settle for a diet version to process our “shovel ready” oxide heaps. Which would give us income to do remedial work and afford a larger bond. That diet PEPR was approved a long time and we have done nothing with it. No promised oxide production.
The second PEPR is the main PEPR resubmitted to allow mining. This is delayed because (fill in the blanks). We have no idea if the BoD are asking for the delay or if it is being delayed by as gov. We are kept in the dark.
I would love to see the due diligence reports on LCCM and the sign offs. I always was of the opinion that it was a terrible idea and it has been a money pit. It is a current liability to the tune of millions and needs to repay us. There is no culpability for some really bad business decisions and no apologies for destruction of shareholder value. The only asset is Cobre for as long as we have a licence to remove the magnetite and customers to sell it to.
You should correct that ShS to 2x Directors with skin in the game and a Chairman with no confidence to invest. The Chairman has unlimited visibility within the company and has a token holding which certainly gives the impression that he has no faith in the company.
Trying to raise an old issue ShS. We have known about this for a long time. The bond is what it is. The mcap does not reflect LCCM as an asset, but rather a liability until such time that it becomes an asset or is proven/sold or removed from our portfolio. We do not own any land in Cornwall. Just the mining rights and deals will need to be struck with landowners, if that time comes. The income is Cobre and that has just improved greatly. We are currently and recently "in profit" thanks to Cobre and the income is what sets SML aside from small miners with zero income. There is a chance good news will send this the right way now that we have income to do something again without bleeding the already drained LTH. The BoD raised us up and then dropped us deeper than when they took over. They can do it again this time with more income or they can lifestyle it. Many of us are not here to regain losses and a light has just started shining at the end of the tunnel. Still plenty of time to get it right or wrong.
Aye, they announce increased income and throw in warrants. Show us a picture of a nice shiney Cat with the first warrant money, but show us no proof of life of the $700k equipment bought for which we were handsomely diluted. Are warrants not simply delayed dilution?
Who knows? The last alledged signal was expect increase in volume, but keep moving sideways and there was and they did. Todays 400 is an alledged move it sideways signal.
Plenty of anecdotal evidence out there. People graph and track to prove or disprove it.
This may help raise a light hearted moment and see if they come to fruition or fail to produce. No more unreliable than speculating on misinformation. https://www.reddit.com/r/Superstonk/comments/u7iox3/it_is_time_to_talk_about_market_maker_signals_i/
"The Receiver has now confirmed the creditor claim of
Southern Minerals Group in the amount of $160,000.00, which negotiated amount
represents the claim amount that will be attributed to SMG for purposes of a future
distribution process when the Receiver proposes a plan of distribution to the Court.1"
Https://broadreachreceiver.com/uploads/1/3/2/9/132950887/2024-01-29_no._289_fourteenth_quartery_status_report_275813565.1__275814851.1_.pdf
"With the resolution of Southern Minerals Group’s claim—previously asserted
in the amount of $21,929,259.00—the amount of total claims against the
Receivership Estate has been reduced to $134,526,420.40, and the total amount of
non-investor creditor claims has been reduced to $65,152,650.87."
Red that was the old application see RNS Number : 9881FAs 14 Jul 2023 07:00
"As reported last quarter, CRL submitted an application to CIoS for grant funds from CIoS's Shared Prosperity Fund to undertake the planned development of the Redmoor project. Subsequently, a request to provide additional information was received and replied to. Despite early enthusiasm showed by CIoS and others, CRL was recently informed that its application for a comprehensive grant had been unsuccessful in this form. In light of feedback from the Good Growth Team, supporting CIoS, CRL will be submitting a modified grant application for the round of applications with a 4 August 2023 deadline."
Https://www.cornwalllive.com/news/cornwall-news/prince-william-deal-cornwalls-riches-9176966
Quite an uplifting interview, without the usual spin. Larger area = more speculators = more positive sentiment. Cash for the "groundbreaking deal" seems to have been covered by Cobre. Expect increased newsflow. Any non LTH should be putting this on their radar and possibly flagged the observational interest of larger global miners. Suffering LTH may finally be able to see the light at the end of the tunnel.