Member Info for Lupidog

briefly indeed.

Which would have given us 1.5p to 1.8p before the last dilution. Tiredness creeping in.

But the my main concern is that "if" we can secure a cln for US$10m and we only need (for example) £700k to restart production. We should only take that and dilute 10% and use the money from production to further the exploration and sulphate PEPR. I feel they would spend, spend, spend and dilute us to a far greater level. JP touted the £30m mcap idea on PEPR and production ( I wonder where or who he got that from), which was always my stated opinion. Which would have given us 1.5 to 1.8m mcap before the last dilution. It will now give us an mcap just below 1.5p. If we dilute 100% to get there then we are looking at 0.74p. All that glitters is not gold and any return slips further and further away from the long suffering share holders. All we can do now is hope that cln is not the finance route we are forced to take, due to mis management, over promising and under achieving.

Because it is also possible to repay rather than convert, depending on the t's & c's.

Therein lies the questions with regards to finance Croutom we need 200% of our current mcap. If we go down the cln route, does anyone actually trust this BoD to make any repayments and not just end up diluting us 200%?

It would be hard to imagine selling LCCM for enough to recoup the money it has cost us in total. It is also hard to imagine that our BoD are either this continually unlucky or this incompetent. Is there a plan that we do not know about? Or are the other companies just other rolls of the dice as eventually one roll will give a seven. AB has a history of selling his own asset to himself via another of his companies. You have to question why Mustang was setup (That in itself smacks of either total lack of confidence in LCCM from both AB and PW)? Or as another vessel to transfer assets to another of his companies. Juggling money and assets to give the appearance of wealth. Drawing down on those in terms of wages and bonuses while not investing in them is a massive red flag to any investor. Passengers eventually fall off or get off the Gravy Train, all the while it continues to move from station to station picking up new passengers, following a loop rather than coming to a final destination. There is no "pep talk" or RNS that will give any confidence to the Market on this share, other than one which announces a stated material aim has been achieved. To much water has passed under the bridge for any shareholder to have trust of confidence in what we hear. Action is the only language left. Action in the form of an approved PEPR, approved finance (with the exception of the death spiral cln), sale of one or more assets (although LCCM is to date a liability rather than an asset) or a T/O offer (which is becoming more likely at this mcap level). No more "spin", just get some results.

CLN would be the final nail in the coffin.

I think or last "most exciting year" saw the sp collapse from 1.5p to 0.45p

Thank you mick for posting that. It all sounds very familiar.

Just Wow. At 06:03 we have "Without doubt, the most exciting time for us." and I couldn't help getting a twinge of Deja Vu. It is almostt like I have heard that somewhere before for that very person. Strange. He then goes on to insult the shareholders intelligence (which I must admit he does have reasonable grounds to do so given that we are all still here).

I would be interested to hear the BoD's take on continuous trading this afternoon below 0.3 (sub £6m mcap). If all they say is true, why is this?

I can and do use SARIG. I have never been able to access the full PEPR whilst it is under application. I have only ever been able to access the full PEPR once approved. I am getting my usual "you may not have sufficient rights to access this resource" when inputting the PEPR number.

If "LCCM is currently seeking US$10m (£7.4m) by either a convertible note or equity investment" and the whole of SML including LCCM Redmoor and what is left on our annual Cobre contract, has a mcap of £6m. How can LCCM raise more than the whole company is valued at? Why would any investor pay £7.4m for part of a whole worth £6m. If they had enough faith in LCCM to invest £7.4m then they would just buy the whole company and take all of the profits from LCCM. I understand that this in not quite how things work in practice, but something is wrong here. Company worth £6m, LCCM seeking £7.4m, LCCM earning before interest and tax £50.1m. Why would you invest for part of that when you could have the whole thing for say a £15m offer for SML rising to £20m. This smells so bad even the dogs wont roll on it.

And your response in Q2 when nothing materialises in Q1? Or your response in Q3 or Q4? You see we have been witness to a management failure to protect or ensure shareholder value, which gives partial information, which routinely misses deadlines and which has "confidence" in every aspect prior to nothing actually coming to fruition? Taking no blame or culpability and issuing not even the slightest apology for destroying people’s finances. They make the same bold statements month after month, year after year and ignore us as if we are not meant to notice the deterioration. Many are just staying in the hope of recouping their losses. Some stay because they still believe there is a chance of “the dream”. The only constant here for years has been the terrible share performance which is the responsibility of the BoD. There is no one else responsible, no one else who takes blame and they refuse to accept that their decisions have led us here. I take responsibility on my investment on the information available. They refuse to take responsibility for proving that information which ultimately always seems to not be as accurate as stated.

That just mean this years RNS is cancelled.

Mustang Energy PLC is a Special Purpose Acquisition Company. Mustangs purported aim is “To invest together in manufacturing assets involved in the energy transition process with a relative focus on the energy storage/battery value chain and to invest in the development of renewable energy projects where there is scope to include stationary energy storage.
Mustang has an mcap of £3m with 10m shares in issue. They are currently extracting themselves from a deal which gives the outside appearance of a failure of Due Diligence (I can’t seem to throw the Laurel and Hardy theme tune from my head). Once extracted from the deal and if any legal costs and losses are to be deducted. There will be a better idea of their funding potential.
Is there any legal reason why a company set up to acquire (part of or whole) such a company as SML through equity, debt or mezzanine funding, would not be able to do so?
The reason for this question is simple. If the words coming out of AB and PW’s mouths on behalf of SML are true. SML and LCCM are in fact very undervalued. LCCM being so undervalued would be a perfect funding target (as stated by Mustang in their target aims) for such a company as Mustang.
Where I am going with this is that if there is no legal reason why Mustang cannot assist to fund LCCM and AB and PW decide not to do so, then they are shouting from the rooftops that LCCM is not what they say it is when making statements on behalf of SML and LCCM.
So, which is it?

https://www.linkedin.com/in/arthur-hunt-b3a725b/?originalSubdomain=au

Is 0.5p your out? It seems quite a sad target after all we have been through. Did JP read what I have been saying for a very long time with regards to the mcap after finance and PEPR? £30m. I hope this is his own reckoning and not just parroting what we "need" to hear. If he agrees with my guesstimate with all of the extra information that he has, I can take some small confidence in my own calculations. Now has anyone seen our sheperd? Is he planning to sell himself a portion of LCCM via Mustang? He has form with NAE and SML.

Still sounded like the same BS we have been getting for so long. One more quarter, one more year, same old ****e.

Just wait for Mustang to unravel itself from it's legal problem. Then voila Mustang funds LCCM as if it was a new idea and not planned all along.