Member Info for Lupidog

Some of the BoD produce some value from Redmoor. By selling it from one of their other companies to us.

If a 10 year extension of Redmoor's exploration licence (and associated mining lease option) brings zero interest from investors and zero response from the Market. It stands (by deductive reasoning) that there is zero value attributed to Redmoor in our mcap.

The same could be said for Cobre (which is highly illogical) given the market response to the 5 year guarantee of access to an income providing stockpile.

Would the BoD care to give their reasoning for the SP to be stagnant for 2 years (regardless of good news) and only reacting to drops when diluting?

BoD it is your job and therefore your responsibility. The mcap is a direct result of your management decisions. Please explain why the Market does not trust you and what you intend to do to rectify this.

of good news in a row. Which should increase intrinsic value of SML by attaching the asset for a longer period.
That is Cobre and Redmoor extended so far this year. Both credible enhancements. Will the SP still remain static? I still consider us currently £3m undervalue based purely on the Cobre extension.
I hope the Market starts to take notice. Just LCCM to go.

They are doing plenty of other things. With other companies.

I'll just leave this here:

18 months ago we formally lodged an application for a PEPR (Thu, 10th Sep 2020 07:13 RNS Number : 5958Y) in a Country and also a State which actively promotes mining.

I would have to agree in part Bubble. The Cobre 5 year lease alone should have pushed us to around £10m. The plus side of the 5 year extension is that it underwrites the current mcap and that the BoD can pull rabbits. Other factors are in play. The fact we were unable to secure finance points a big finger at either the two owned “assets” or the historical Managerial actions of the company as a whole. A PEPR would give LCCM attributable asset status and finance other than a CLN would give some credence to the inherent value of LCCM. Here’s hoping, as it has been a long few years and it can still go either way. Failure to secure a JV without a PEPR was understandable. Failure to secure a bank loan agreement (even with a proviso that the PEPR is forthcoming) after their DD was a sign all is not well. The PEPR “lite” would be a good stepping stone and that may give us a boost if approved and we must be on the cusp of an assessment response. I would like to see a return on this investment before people start throwing nukes around.

Within the next 2 weeks was up yesterday. Should we expect an RNS stating we have done so?

"In line with the court order obtained by the Receiver for CV Investments LLC on 22 February 2022, SMG expects to formally lodge its claim for US$21.9m, as per its recent arbitration, within the next two weeks, well ahead of the Bar Date of 25 April 2022."

Mr Broome has also done this with NAE (Chair) and SML on Redmoor. There only appears to be one winner. Perhaps Mr Broome would like to discuss his links to all companies involved with SML, including Drilling and Due Diligence. A motion at the AGM should receive an answer. Then we could also question the BoD's involvement and remuneration with other companies / projects outside of SML. Including a breakdown of time allocated versus reward. Perhaps share a few anecdotes on the commercial successes and highlights of each company / project?

Rather than ranting which seems at times to border on libelous, Hursty. If you have evidence of wrong doing within the rules of the FCA then report your concerns to them . If you have evidence of criminality which you seem to infer, then report this to the police. Or are you really just an angrily ranting to an audience for effect?

The problem with percentages:

We maybe around 80% down but we need an increase of around 400% just to recover to that point in SP due to continued dilution. Which must be coming again soon as our financial expert can't arrange finance for the riches our mining expert says we have.

I doubt if it is "granted" as we would have been informed as that would be price sensitive. I expect that it cannot be approved until all parties involved (including where it is currently being assessed) have agreed to the approval.

An assessment only. For all we know they have already done so and the BoD are under no obligation to inform us unless it is price sensitive information. If for example the assessment was "we are still looking at it" or as we can clearly see on SARIG "we have passed it to "aboriginal Affairs". Then this would not be considered "price sensitive".

Only 87 days until the end of Q2 and they have managed to drag this out and draw wages for another half year.

P2CR. The statutory response time is for an assessment (not approval), irrespective of any implied comments. I am of the opinion that the body language of JP (constant hand wringing, etc.) says more than the words he is speaking.
If there is any solace to be taken, it is that as PW confirmed that we do not yet have finance, he is also confirming that we have not yet taken the self destructive CLN route. PW stated (ref the PEPR) "that doesn't help with concluding funding discussions".
My opinion is that the DEM have assessed the PEPR. This is based purely on the evidence that it was circulated to "Aboriginal Affairs" and noted as "Started" on the 25th March.

We were only ever waiting on the initial assessment from DEM on the January submission. Whether that assessment is an immediate approval, a requirement for more information or more work to be undertaken to meet conditions, we have yet to find out. The only thing I took from the Podcast was PW's confirmation that we do not have any finance arranged as of yet.

https://www.collinsdictionary.com/dictionary/english/wring-ones-hands#:~:text=phrase,are%20unable%20to%20change%20it.

There does not appear to be a current Native Title claim at Leigh Creek. http://www.nntt.gov.au/Maps/SA_NTDA_Schedule.pdf
However
https://www.energymining.sa.gov.au/__data/assets/pdf_file/0007/373840/DEM_Reconciliation_Action_Plan.pdf

There is a difference between Land Rights which are granted by the government and Native Title. Hence the PEPR being passed to the Aboriginal Affairs and Reconciliation Division.

It is all aboriginal land.

It is not about "deserving" of payout. There may well be a set legal order of precedence, as there is in the UK.

https://map.sarig.sa.gov.au/MapViewer/StartUp/?siteParams=ApplicationStatusWidget the just click on the map (just below Lyndhurst and beside Copely)