Member Info for Lupidog

out of this, by hosting an online shareholder question and answer session. I would certainly be objective as the only outcome any of us want is for the company to be successful. That is relatively simple to arrange and may placate those of us who digest each RNS and are left with more questions than answers. There is always a mute option for the hosts in the unlikely event that emotions run a little high, which is not available in a face to face environment.

And yet all it takes is for the PEPR to drop and we suddenly add value.

This is about the business, not the individual. We are all part owners of a business that has been consistently reducing shareholder value, or to put it correctly 'our money'. We have been diluting to cover errors and mistakes, while those in charge have been rewarding themselves while we dilute. I want the business to succeed, we all do or why invest? We have 2 board members who do not have 100% focus on SML and it shows. I would rather a Chairman who is not so distracted. People with focus make things happen, jugglers just run around trying keep all of the balls in the air.

It would be difficult for Mr Broome to justify his re-election, if the AGM was Public.
Mr Broome, having sold us your own asset of Redmoor and having done your own Due Diligence to LCCM which failed to notice that the Leaching process would not actually work. Apart from taking our money and then destroying our value, what did you bring to the benefit of the company and what will you bring if re-elected? I can no longer afford to subsidise your visible failures. As a shareholder I live by my own rules that demolishing shareholder value should neither be rewarded or that those responsible should be trusted with "another go". In most businesses positions would become untenable after such financial losses.

Agree DVH. Someone needs to explain what they have achieved in their time in office. No one should be rewarded for failing the sharehoilders. "Under the Company’s Articles of Association, I will be retiring by rotation this year and, being eligible, I am offering myself for re-appointment as a Director of the Company. Shareholders are asked to re-
appoint me as a Director."

DVH. I still have faith in the PEPR for Paltridge North. For the latest time frame to be so short, must be an indication that they no longer need breathing room. I do believe that the PEPR will shake things up and that if a $10m aud loan is forth coming that will also nudge the mcap in the right direction. It opens the door to production and exploration. I fail to understand how they could not pitch this to a JV at the correct level, given their stated expertise. I also fail to see their explanation of the reasoning for $10m AUD. It doesn't ring correctly. We have been given part of a very large story yet again. Why we could not wait for production at the figures given, to pay for the exploration as I don't see why listing on ASX is important for SML if funding by way of loan goes ahead. It certainly does not favour shareholder value to borrow against an asset and then dilute that asset when in a short time frame the money would come from production. One or the other but not both. This is for their pockets not ours.

I gave you the benefit of the doubt Fira and unfiltered you. Cut the crap. Stop with the jaded insults of people. You appear to be here just to poke and goad. I look forward to meeting you more than the BoD at the AGM, as I am more than happy to discuss nearly 2 years of continual antagonism. Back to the filter list permenantly.

and I still believe it will be a game changer when it arrives.

They obviously can't spin the PEPR out much more and that is the game changer. I can wait another month. The rest may then fall into place, or not. That is why we speculate.

No. I am staying for the 1.5p Party.

From A Present perspective as a new investor:
The loan would back up the asset value and allow exciting exploration possibilities.
The possible rewards in a reasonable time frame of exploration discoveries are good.
ASX listing would bring free shares and an uplift in shareholder value.
An exciting 18 months to 2 years to look forward too.

From a past perspective as a historical investor:
Could not present a favorable case for a JV either because they were pitching to the wrong companies or that the right companies dismissed the proposal.
Another 18 months to 2 years to spin this out.
Goalposts move yet again.
Another RNS, (RNS Number : 6411E Strategic Minerals PLC 09 November 2020) is now not quite “new” way forward.
We are at this point because of past “expert” failures and once again the expertise is shown to be wanting.
More of the same for the next few years.
A few impressive mine names thrown in for effect.
Stay with us for the Redmoor Juggernaut, carrot is dangled.

"The Board has elected to seek additional funding to conduct both production at Partridge North and exploration simultaneously".

One has to question why?

100t produced copper pcm = $940000
200t produced copper PCM = $1800000
300t produced copper pcm = $2820000

Why not just wait for the first months production to start exploration?

1 + 1 is not making business sense with the information provided.

The current BoD bought Redmoor and they were totally correct in at least one thing. The rising demand for the commodities they invested our money in. I stayed for Hanns Camp and look where that got me, so I left for a while. Now I see value in Redmoor and a bargain buy in price. None of us have to agree with each other and opinions are just that, a non factual personal idea. I hope you make your money on Redmoor, but the key to Redmoor is LCCM. If we don't have a key we can't open the box. We may as well just finalise a proven resource and sell it.

So we are back to why are you staying? If you see no chance of getting any improvement on the current sp?

Correct there BS, my bad £5.5m, although the sentiment is the same.

P2CR. If we have an mcap of £10m and borrow £10m what do we have? An mcap of £0m because the asset is worthless? An mcap of £10m because we have a £10m loan against LCCM? An mcap of £20m because the lender sees viable collateral in LCCM? An mcap exceeding £25m because of the last, plus the asset of Redmoor and circa £3m pa income from Cobre?

If someone is going to loan £10m against an asset, the collateral must be there. If LCCM is only worth £10m (100% collateral), then lenders do not loan against 100% collateral. The ability to raise £10m against LCCM (if achieved) will be very telling.

Put emotions aside and do the Math. Numbers (if correct) have no ability to lie.

Now about these free shares...

Not sure who you guys are angry at. The Bod for the decline in SP or yourselves for staying so long when you have 0 faith? If a partner had cheated on you so many times, when would you leave them? Even if you were heavily emotionally invested. Are you staying even longer to keep being disappointed and venting it publicly or will you finally make a decision to stay and support your investment or leave and cut your losses and improve your mental health? Venting in public when most of you (there are exceptions) do not even bother to contact the BoD or associated entities, shows a lack of willingness yourselves to work with the company you part own.
We are trying to raise more than our current mcap. What does that tell you about LCCM? We are looking to list LCCM on the ASX (free shares). We are so close now, but you let emotions rule over business.
If you are even just staying to break even and jump ship, you are going about it in a strange and self-defeating way.
I get back in my box now and enjoy watching my investment while interacting with all parties involved.

blacksheep, thank you. DEM did state that once the drafts were checked for adequacy, the formal submission would follow. It is all falling into place nicely. I am sticking with Q2 as well.

gorsuch,

I concur, "likely to occur in the second quarter of 2021".

Prop,

Based on the publicly available information, oh yes.

My mistake that should have read "formal submission has been received", as SARIG has been updated (as stated by SARIG "SARIG will be updated once the formal PEPR submission is received".).