Member Info for Lupidog

The Red 1 or the Blue 1? Which do you take. Do you desire the willingness to learn a potentially unsettling or life-changing truth by taking the red 1 RNS or do you remain in contented ignorance with the blue 1 RNS???

I have read all of the RNS's many times. I don't quite take what they say as gospel. If we had an RNS stating Xmas on the 25th Dec, I would worry for xmas.

I see the main protagonists are all up and posting early.

Where is this loan? You have had more than long enough for financial DD and we deserve to be treated to an explanation of the current mcap, which is lower that the amount you are trying to get a loan agreement for.

They could buy us 2x over and still have cash to operate with.

The due diligence for our purchase of LCCM was carried out at some time during the period 16 Oct 2017 to 15 Dec 2017 (60 days).
The due diligence for the $10m usd draw-down facility was already being “undertaken” as of 08 Oct 2021 (47 days, plus whenever it actually started).
There can be no comparison to the timeline, but I would expect that the current DD is either complete or nearing completion. I would expect news before the end of November, but we don’t always get what we expect. Here, we rarely get what we expect.
I was re-reading the Hanns Camp and then the LCCM purchase period RNS’s. It is hard not to laugh looking back over all of the “believes and expects”. They certainly raised a wry smile for me.

Valuation-it-is. It is hard to accept LCCM as an asset when it has cost us so much in real terms. It only become an asset if the PEPR allows for production and then that production is commercially viable. It was a liability that was given away with "free" cash to the people who sold it to us. We have been here before with LCCM and so have other companies. We could not secure a JV and the people who oversaw the DD and the failed production still hold the reins. Yes copper is holding above $9500 and yet we still wait for finance to try again. I agree that if what we are being told is 100% and we get the PEPR and finance, LCCM can start to pay us back. What I am unsure about is the "what we are being told".

Exactly Bitcoin and we have pretty much zero perceived asset value, or Redmoor's value is cancelled out by the current multi million dollar liability LCCM. Exactly how much money has been sunk into LCCM and how much shareholder value has been wiped out by it?

I am re-posting, as this was removed at my request this morning due to copy and paste trouble doubling up the paragraphs.

I would like to apologise for a mistake in calculations that I made in a couple of posts back in October this year with regard to how much we were trying to borrow against mcap. I believe that I stated “We are now trying to borrow 77% of our mcap”, “There is no mention of any further attempts to secure funding or a partner. What options are left? 67.5% dilution?” and “what is effectively a medium Business loan of £5.4m”.

The error I made was that (for some reason) I was calculating the $10m funding in AUD rather than USD. Whereas RNS Number: 4190O Strategic Minerals PLC 08 October 2021 clearly states "minimum US $10m loan facility to LCCM".
The minimum funding facility is for circa £7.5m (current exchange rate) against our mcap of £7.6m.

We are trying to arrange finance against 99.98% of our total worth.

A hostile take over would want to go ahead before anything that would increase the value.

When you can buy the whole company for £7.6m +, then we are ripe for a takeover. Which would hopefully see an end to the shepherding. A nice offer of £20m for the lot would secure my shares.

The Shepherd is losing his flock, after losing our money.

Not a problem we will face Value. We do not have any mining operations nor do we have permits to carry them out. We do shovel someone else's waste product for a profit (at their convenience).

Sammy 2019 was transformational. We went from a high of 1.725p to a low of 0.54p. Total shareholder devastation and no one held accountable.

Did he mention that he is taking responsibility for the destruction of shareholder value?

with critical materials, is twofold.
1. Companies rush to heavily invest to take advantage of the high prices while they are high and the "over-investment" reduces the criticality and increases supply, dropping prices.
2. Companies invest in finding alternatives which may be more expensive, but not as expensive as the price of the critical material. This is already happening with aluminium based alternatives to tin.

I know we accept that Prop. But until those in charge accept it we will continue strolling down the same path. Not a single ounce of culpability has been shown for the mismanagement that has destroyed shareholder value. I would like to hear it from the people that caused it.

Unverified financial assumption Project After Tax NPV at 8%pa increase of £53.6m to £121.3m and the Market reaction says "No". Would anyone on the BoD care to comment as to why there is zero faith left in the company from a Market perspective?

the Exploration Manager have to add to this? Will Brett be doing a proactive video to give a full update?

Encouraging news, if we had an income stream to pay for further exploration. If I recall, originally we went for LCCM as COBRE was finite. Just how much money have we spent on LCCM (in total), which could have been used on Redmoor?

May as well speculate. There are a few options. What is the expected SP on all of these scenarios? We are all invested so we must base our investment on speculating an SP in a scenario.
1. We get finance and PEPR.
2. We don't get finance but get PEPR.
3. We get finance and don't get PEPR.
4. We don't get finance or PEPR.

1. Still going for around 1.5p, as this give a reasonable mcap to asset of £30m. This is prior to production.
2. No lower than 0.35p. We have had so many kicks in the guts, this will not fall much as the BoD scramble to achieve different finance via Aetas, as already stated.
3. Around 0.3pp to 0.325p as we have to finance extra conditions to try and salvage PEPR.
4. Around 0.25p to 0.3p as we wallow around trying to sell LCCM to someone. There are plenty of AIM SML's out there. Everything once again rests on COBRE's shoulders.