Member Info for Lupidog

We have a PEPR and we were "shovel ready" on the 22 June last year. Funding was the issue and yet we seem to be burning through the Cobre money rather than using it to produce from oxide. 7 months of Oxide PEPR wasted. Funding is still not a given, but the copper price is once again on our side. Stop all work at Redmoor. Reduce the ridiculous salaries and use Cobre to start LCCM. If LCCM is as good as we are being told, then why are we not doing this? If LCCM will bring £xm from oxide, why not do this? We are back to waiting on a PEPR for how many more months or years? This seems like just another can kicking exercise.

Twis called 12p at half the shares in issue. Your 6p matches now versus share issue. Hi Twis2.

What is Redmoor NAV? Can an exploration licence have a NAV?

If we are having a sweep-stake, I'll go for 3 months. 8th April for the first review. Then the next RNS saying that we will respond before xmas.

This is almost like breaking political new that they don't want anyone to hear. The most quite time in the Market where hardly anyone will see it.

All that really matters is the Market and once again no real reaction and no traction. We are only hearing about one interested party. That they visited the site is good. But one from a cast of many leaves us in a precarious situation. How long have we been looking for funding with a financial expert at the helm? The Market seems to feel the same way i do wait and see. Lets hope that it isn't a long wait as we missed the last copper bubble and China is shutting down again.

if we had £13.4m in assets. We would not have an mcap of £5m. Did you read my answer to your question? It s only my opinion, but reflects the mcap.

Are you including the loss associated with whatever finance solution is agreed. A CLN would hit like a stone. We have not been told that they are reducing the amount of funding required ($10m). We are looking for funding equivalent to 100% of current mcap. That will certainly hit us hard somewhere. Be it on interest, revenue split, payback, etc. Does the Oxide even cover the funding?

Bubble, IMO Lithium will always be required as an element. But so much investment is going into finding an alternative due to many factors, including its instability, its heat range, its destructive mining, toxicity, etc. The car industry cannot afford the negative sentiment associated with Lithium. The eco warriors will soon turn their attention to Lithium which is more destructive than Oil. Lithium will fall from grace the second a viable alternative is found. For me, investment in Lithium comes with this caveat.

Justdandy
My take on your question:

Do we have assets and what value are they?
There are many definitions available on the internet. Here is but one “an item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.”

Is LCCM an asset?
It had no value and was given away with an incentive to the buyer.
It was assigned value by us when we purchased it. It has not yet proven to be the definition of an asset and the Market assigns no value that is noticeable. We are at a large financial loss. To SML LCCM is currently a book liability.

Is Redmoor an asset?
“CRL has an agreement with the mineral rights holder of the Redmoor area, providing the right to explore the area for a period of 15 years, and the further right for CRL to enter into a 25-year mining lease (renewable for a further 25 years). The mining lease permits commercial extraction of the minerals, subject to obtaining planning and other approvals.”
Certainly not a tangible asset. The SML website shows Brett Grist, Exploration Manager and James Blight, Senior Geologist. Yet the CRL website has no mention of them. This would be because they left and Redmoor is so important that SML have not updated their website for 10 months to show that the personnel structure has changed. The Market assigns minimal to no value. The only people that have assigned valued are NAE and SML. This is the one that AB sold to himself. Redmoor is currently a book liability.

Is Cobre an asset?
We have the main portion of a 5 year lease to pick up and sell magnetite, a by-product of the Cobre Copper Mine. We do not own the Mine. We simply have a lease to sell the stockpile. We do have some tangible assets if the $700k was spent on new equipment as stated. The SML website does not explain the situation, but rather talks around it. Readers may be led to believe something which is not.
The vast majority of the companies value assigned by the Market comes from the sales from this lease. Cobre for the duration of the lease. The lease through SMG is very much an asset while valid. We have access to a good revenue stream at Cobre and it is being absorbed by ridiculously high and non-proportional Wages and Bonuses. Rather than utilised to fund company activities to the full.

More balance and less spin in this RNS. If it happens it happens. You are only as good as your last job.

Our year.... to wake up that we were all taken in by the spin? Their conduct has shown we mean nothing other than a paycheck.

Certainly not in the best of places at the moment https://simplywall.st/stocks/ca/materials/tsx-bki/black-iron-shares?blueprint=2264965&utm_medium=finance_user&utm_campaign=conclusion&utm_source=yahoo.

Black Iron's project is in Ukraine. It's sp tanked on the invasion and as the Shymanivske Iron Ore Project is on the western side of the Dnieper River. I would guess it is pretty stuck. Did RAB want the Magnatite for something else and if so were they banking on Black Iron providing it? Are RAB just investing in Magnatite per se? Is the Magnetite just a coincidence? Black Iron 100% owned their project where as we just have (albeit an extended) lease access.
Extending the lease did not really do anything for the company visibly in the Market, although if managed correctly does secure income for a lot longer. The Market reaction to the extension was strange. RAB's investment did not hold the Market gain when it was announced and here we are, back at £5m mcap which is underwritten by Cobre IMO. So the Market has no value or confidence in either LCCM or Redmoor. The silence from the BoD is deafening and the Xmas dead period is upon us.
RAB appear to be down on their investment in Black Iron and here. Please let me know if I am incorrect in my assumption.

Have you researched RAB capital? I a struggling to find info about their other investments and portfolio performances.

Whose money the directors use to buy shares would be down to perspective. You can easily see which directors bought when and at what price/discount and you can see their remuneration from the company. I think you may find that by %, remuneration far outweighs share purchase.
You could for example pay yourself £20 from your own company, buy £2 of your own stock and then with hand on heart state you bought £2 of stock with your own money. Perspective is a marvellous thing. Is your business perpetuated to pay you a salary rather than grow the company for the benefit of all and therefore ensuring your own benefit. Either way you benefit. If say you were a director or chairman of a few "small" alternative market companies, none of which actually became successful for the shareholders but continued to pay you a good wage and bonus. Would you personally be able to live comfortably on a high income, off the backs of the shareholders. Would it do any good for the shareholders to look at their BoD members a bit more closely and see exactly how many alternative market companies they belong or are running and how successfully they are performing or have been performing? Would you get the impression that some may simply be doing this for a good living rather that actually producing successful companies? Possibly. Why not take a look at our BoD as an example and try to see how those that may have multiple directorships or chairmanships perform as leaders and how their companies perform and to whose benefit?
Communication is the key to good sentiment, if there is no communication, there is something not being said.

At least we all have this Turkey for Xmas.

I am not trying to be pedantic. There is a reason it is called Redmoor Project and not Redmoor Mine. What 3 words will show you CRL in Kelly Brae (listings.composes.harp).
A land registry search (£3 a pop) will show you who owns the titles to the land we have been exploring under and who is the "mineral lord".
Your question is only half asked and should be "Who owns the land (which we need permission to work on for a price) and also "who owns the mineral rights (the mineral lord), who we have to pay 3% royalty to".
I see nothing on the CRL website and nothing on the SML website to suggest we bought or own any land or mineral rights. I see references in RNS's to drilling on farmers land.
If we do own land or mineral rights in cornwall, could someone please correct me.
This is taken from the SML website (note -royalty payable to the mineral right owner.):
Redmoor has an exploration licence which provides the rights to explore over the entire licence area for a period of 15 years and the mining lease option provides the right for Redmoor to enter into a 25-year mining lease (renewable for a further 25 years) over any part of the licence area. The mining lease permits commercial extraction of the minerals, subject to obtaining planning and other approvals, and is subject to a 3% net smelter return royalty payable to the mineral right owner once commercial production has commenced. Surface land access for exploration drilling and mining over part of the Redmoor deposit is also included in these agreements.

What land?

We do not have any land at Redmoor.