Member Info for Lupidog

duction re-commence at Leigh Creek.”

For those that struggle to understand why some here are slightly sceptical and at times emotionally involved in their investment and the collapse of the value of their investments.

RNS Number : 4362Z Strategic Minerals PLC 15 December 2017
“The outright acquisition of Leigh Creek Copper Mine for an up-front payment of AUD $3m is a significant step forward for the Company….. which in turn will add substantial shareholder value to SML.”
RNS Number : 1709R Strategic Minerals PLC 13 June 2018
“The proposed work programme is expected to lead to the commencement of copper production around mid-2019.”
RNS Number : 1101Z Strategic Minerals PLC 29 August 2018
“These activities are focused on restarting copper production around mid-2019 from the Mountain of Light processing operations.”
RNS Number : 6508J Strategic Minerals PLC 06 December 2018
“The prospect of the plant being ready ahead of schedule provides an opportunity to start copper production potentially earlier in the first half of 2019”
RNS Number : 2898Q Strategic Minerals PLC 18 February 2019
"Management and the Board look forward to restarting the Mountain of Light operations in the first half of 2019 and moving into long term, higher volume production at a later date."
RNS Number : 0937S Strategic Minerals PLC 07 March 2019
“a significant step to full scale production which is scheduled for late 2019 / early 2020”
RNS Number : 8395V Strategic Minerals PLC 11 April 2019
“is pleased to announce that its Leigh Creek Copper Mine ("LCCM") operations have recommenced copper production at the Mountain of Light processing facility”
RNS Number : 2908U Strategic Minerals PLC 22 November 2019
“the Company has been in talks with various parties to secure adequate funding to recommence sales at LCCM”
RNS Number : 5102N Strategic Minerals PLC 21 May 2020
“Generally, the process takes around three to four months from lodgement of the draft PEPR to the granting of the approval.”
RNS Number : 6532X Strategic Minerals PLC 01 September 2020
"The Company continues to move the Leigh Creek Copper Mine forward with an expectation of operations commencing early 2021, subject to finance. This is likely to lead to significant cash flows during 2021.”
RNS Number : 6411E Strategic Minerals PLC 09 November 2020
“The Board considers that LCCM's robust economics will attract the funding required to commence operations in 2021.”
RNS Number : 1458U Strategic Minerals PLC 31 March 2021
"Subject to receipt of the PEPR approval and funding, the Company expects to commence mobilisation and mining in the third quarter of 2021 with revenue commencing in the last quarter of 2021."
RNS Number : 0804D Strategic Minerals PLC 25 June 2021
“Management and the Board's confidence that LCCM will be undertaking production in the second half of 2021 subject to the receipt of required funding”
RNS Number : 5729N Strategic Minerals PLC 30 September 2021
“the Board feels confident that 2022 will see full scale prod

"subject to procuring suitable finance"

3 Months with a Financial Expert on the Board and using a company which specialises in this type of investment and we still get "subject to procuring suitable finance" 3 months later?

My guess and opinion is that they couldn't secure the finance at a reasonable level without the PEPR conditions being met, amongst other things. The "woohoo" Redmoor news was rolled out to bury the "oh poop" LCCM news. It does not take 3 months with experts to secure funding so what is the kicker? The Copper price is high now ( and maybe not next year). Why not try the angle where you actually tell us the share holding owners what the issues are?

This is the type of RNS we get every so often. It is always just around the next corner.

"next year" and then maybe the year after that and the year after that.
"With the post balance date granting of a conditional Program for Environment Protection and Rehabilitation ("PEPR") for mining of the Paltridge North deposit at the Leigh Creek Copper Mine project, the Company is looking forward to getting into operations, subject to procuring suitable finance, next year."

PW's interviews are usually very good at the time.

Bitcoiner. The way you state it, we are ripe for a take over.

You state "I think from here the only way is up as nothing in relation to the potential of our 2 100% owned projects is priced in."

I would like to agree with you but I can't. For the obvious reason that we do not have the finances to move them forward. Redmoor is using up a grant, the inability to depreciate assets at Cobre has dug another money pit and LCCM is a Liability not an asset which requires millions to get back to a point we were at already at a couple of years ago. We need Money and the Market knows that without it we are just Cobre with an additional couple of millstones tied around our neck. I do not think the only way is up. With out external funding the only options left are internal funding, selling of the liability or the asset, de-listing or being taken over. Given AB's history of selling to himself. I opine that we may well find ourselves sold at a discount back to himself in another Company.

It is up to the Company to promote itself to the Market. Opinions posted here with a few factual bites carefully selected are still just opinions. The only truth is the current mcap and that it can and will go up and down based on the MM's ability to create a Market around what the company does or does not do. PI's will jump on and off to their own agenda. Those that lose money generally complain, those that make money generally stay and lose it again. Those waiting to make money argue with those that are complaining. Those with a loss or profit cut off just accept when it is hit, take their loss or profit and move on. Those waiting to change their lifestyle often find it changed for the worse but still play the game in the hope of picking the next "big one". The next "big one" is out there and there is more chance of finding it than winning the lottery, but you still have to hold tickets. I found it once and hope to do so again. BZT is a just another ticket that I hold at 0.2. I will be out at 0.1 or 0.4, whichever (if ever) is reached first. This forum is more like a Disney series, the same protagonists and antagonists every episode. Each trying to sing their song over the other. Fun to watch, when there is nothing else to do.

Ignoring of course the consolidation and subsequent placings.

that the Market does not care about the latest news which is meaningless unless there is funding to pursue further or Redmoor is sold "as is". The only thing that will move the mcap in the right direction is the long overdue LCCM update and only then if it is positive. It has to be full funding and good progression to meeting the PEPR conditions. If it is not then I put forward that we try and sell LCCM to recoup the initial purchase price, plus all to date expenditure (with little hope that we would). I would also call into question the positions of personnel within the company who continually fail to produce results which benefit the shareholders. We have no additional funds to carry deadwood.

I do look forward to the Proactive Video from our illustrious cosmic chairman Alan "Shepherd". Maybe our stars are aligning in the Mustang constellation. Or one from Mr "Undervalued" just to reaffirm (over to you DVH)) or even an appearance from the "Juggernaut" himself to reiterate shareholder value. Perhaps after they discuss these results, they could hint at which calendar SML are using because it appears not to be the Gregorian one.

An optimist would think that these are excellent results worthy of a re rate just requiring LCCM to wholly fund the project.
A cynic would think that this may well be released with the intention to raise the mcap. Either prior to a placing due to the inability to secure total or partial funding for LCCM or to de-risk the funding to achieve better terms.
My opinion is that this is promising but needs more work which can only continue until DDC's grant runs out and we find more money to further the encouraging progress.

And yet the mcap stays firmly routed in reality not fantasy.

They should have done correct due diligence. They would have known about the fines issues if they had used "experts".

The only thing we have to look at is the current company performance. Why should this not fall back to the 0.06 of 17 months ago? We currently have no reason to stop this decline and we need to be given one. Not by posts on this chat board, but by information flow from the BoD.

Don't you mean before this makes 0.1. This does not look good at all. Something is needed to reverse the decline before it gathers more momentum.

does a funding deal take? Any reason the Ateas website has not updates it's track record since April 2020?

RNS Number : 0804D Strategic Minerals PLC 25 June 2021

“Mr Speck will commence his position in the first week of July and the timing of Mr Speck's appointment reflects;
1. Management and the Board's confidence that LCCM will be undertaking production in the second half of 2021 subject to the receipt of required funding”

“Aetas Global Capital Pte Ltd ("Aetas") has been appointed to assist the Company in its endeavours to raise, preferably by way of debt at the LCCM level, AUD $10m to fund production at Paltridge North, exploration work and pre-listing costs.”

The above was 3 months ago. How long does a company that specializes in debt, with all of the right contacts take to find a loan. I hope it is not the 18 months that it took to not be able to find a JV partner.

Time to start pinning the tail on the donkey.

A lot of use of the word "asset".

Asset: An item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.

Redmoor may well be on its way to becoming an asset, but LCCM does not meet the definition. Something that has cost us so much can not be described as an asset until such time that all financial outlay has been returned. Currently LCCM is a 100% owned liability.

Next RNS , probably about not being able to get finance and a 75% dilution.

"I must’ve missed all the board selling that dropped the share price"

If you go back to the kitchen saga, you will find that this is the sale that started to show the rot. This is when the business acumen started to be questionable. Many more questionable decisions and statements followed, leading us to this point. We are here due to our BoD. They make the decisions and do not seem to be able to put their hands up when mistakes are made. I have no doubt that the work at Cobre and Redmoor is carried out by hard working, dedicated and intelligent people who are doing a sterling job. But our leadership has fallen over to many times and the reappointment of AB was a to be expected as much as the next 2 years delays. I will reiterate that few of us would have survived in our positions if we had presided over the month-on-month destruction of the shareholders’ value. You are correct in part that it is shareholders who have sold in the main. But the BoD take ultimate responsibility for the mcap/share price through actions which create performance and sentiment. All business can suffer unexpected occurrences, no matter how good the planning. But this seems more like Duck Soup on repeat. The lack of interaction between the BoD and PI’s once the going got a bit rough incubates and magnifies the mistrust and terrible sentiment. This is also of their own making and is the easiest thing to rectify, at zero financial outlay. The total lack of culpability is the clotted cream on top.
I was also surprised by Crutoms' claim to have received a response from JP via email. Reasonable questions politely presented, which required no detail of price sensitive information have been ignored.