Member Info for Lupidog

You may wish to reappraise getting shot of Redmoor to push LCCM forward. Bredagate and LCCM are why we are where we are. Did you research the asset value of LCCM when it changed hands in 2013. Did you noticed how much it cost Resilience? Do you know why PNX paid to get rid of LCCM? Do you know who did our DD for LCCM? Did you read the statements from JT when MD of Resilience when they were trying to sell it to us? Did you ask why JT became our PM for LCCM after selling it to us? Were all parties involved as independent as stated? Do you know what we were told as to why we purchased LCCM and how much it has cost us in financial and also shareholder value? How long were we told Cobre have left to produce when we purchased LCCM and yet years later we laud a 5-year contract renewal at Cobre? Why would LCCM have any more value now than when we bought it, or worse when Resilience procured it?
Just my opinion, but you may want to reappraise selling Redmoor to fund LCCM.

I notice that a new 50 year mortgage has been approved in the UK. That would suit us down to the ground. 50 years to sort out production get the sp back to 0.45p

It was already prepared when we bought it Prop. That is easy reading history. Quite interesting if you read back on what was said at the time by Resilience.

if any of you still haven't grasped one. Waxed paper, of course.

"three interested parties who have signed the Company's Confidentiality Agreement and have been in our data room for a month or more"
So how about an update 3 months down the line?

Going by our current share price. I would hazard a guess at less than what we paid NAE for it. Maybe AB could sell it on to Mustang this time, as he likes to keep it in his portfolio.

Lol gorsuch

Contains or inferred?

$7500t may help, but $10,000t didn't.

We had the same asset when copper was high. We had the same asset when copper was low. Our problem is we only have inferred copper. Not real copper. Until we have production and proven resources we have what the market is pricing us at.

What is our borrowing position for either finance or a JV? Are we trying to borrow £8m (1.4x our total mcap) against one of our assets,LCCM. LCCM is a fraction of our total mcap. Venture capital is usually for a minor stake in an asset or company. We are looking for 1.4x the company as a whole, for one asset. A standard loan would require more collateral than we have. A CLN should be possible, but many have seen what that brings.
Or are we trying to get a JV with a partner who will have to fund £xm to try to bring LCCM to production. The £xm is very important. Because I would have thought they will want their £xm back plus a share of LCCM (asset or profit). IMO at least 50% of the return plus their original money back. Because why wouldn't they? They take all of the risk financially.
So lets have some sensible responses please. We are all seeing the same information. We should be all adult enough to visualise the position we are in. I would like my money back.

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to RNS Number : 2908U Fri, 22nd Nov 2019
Feasibility study updates for LCCM

This was done on a copper price of 6,614. Copper is currently 7,212.

Nearly 3 years later and copper has been above that feasibility study price the whole time. Why are we still waiting on finance?

Today's RNS read like a script for a Biden speech about how inflation is everybody and everything else's fault except him.

We are not here because of the Market. We are not here because of the commodity price and we are not here because of Covid. We are here because of the BoD and no one or nothing else. If we has a buck left, it should stop with the CEO. Other opinions are available.

£5m mcap. Cobre income underpins this. Nothing else is taken into account IMO. Somebody please buy us. Can we also adjust the renumeration packages to suit a very small £5 company and base any bonus in performance.

Are you saying that this RNS IS"honest" and the others are not?
IMO they just ran out of polish.
The lack of any mention of LCCM finance stands out.

anything positive in the RNS?

LCCM: "fall in copper prices have impacted sentiment" and no mention of finance at all. Or is “impacted sentiment” telling us all we need to know about finance?
Redmoor: " At this time CRL's drilling plans may be deferred until this situation changes". Really? This is the real reason? Nothing to do with little money left in the bank?
Cobre: "June quarter and annual sales of US$0.7m and US$2.4m respectively, slightly weaker than in previous years" and "the current increase in transportation costs and recession concerns have moderated expectations accordingly."
CV claim: Generally prepping us for no pay out as they can't spin a pay out any longer IMO "Receiver has indicated they are likely to prioritise, in this case, equity claims over creditors".

After the wee incident at Stevie the bookies...
Captain Dandy is BACK!!
Friday 15th July, 11am, Co-op 190 Crown Street G5 9ZR
Ford and Greg will also be there signing yer bottles!!

Let's hope that the indicated (estimate) becomes a reality.

redcardave. I was of the understanding that we have approx 12 months of Oxide at PN and Historical drill results giving good sulphide at depth. Don't we need a new PEPR to operate outside of PN at LCCM?

Which is why we discuss Croutom to learn, be informed and also corrected.
From a previous RNS, it states that we appear to have a layer of copper oxide. Do we have a defined amount or an inferred amout?
"From LCCM's previous drilling results, the PN deposit appears to have a layer of waste material that needs to be removed (approximately 6 weeks mining) followed by a layer of copper oxide material and then descending into transitional sulphide ore."
Another RNS then states that we should have 12+ months of production. Again inferring and not confirming:
"The Company expects to receive DEM's approval for the oxide only case, which should cover the first 12+ months of production and then follow up with revision 10 of the PEPR, which will address only the additional mining of the transitional ore."
I want the SP to rise. I want all of us to recoup and possibly turn a profit. But I am no longer willing to go with the spin. I will keep questioning to try and determine exactly what we have and not what we may have.
You mention 5.100 tonnes of Oxide. Is this inferred or quantified?

Because it is only possibly £5m for 1 year, until we can prove and get permission for sulphide.