Member Info for Lupidog

Sammy, perspective is everything.
When PW was appointed, we had 1.05b shares in issue an SP of 0.255p, mcap £2.7mm. So given our current mcap you should say his appointment was an unmitigated success given our current mcap of £10m
To accurately see the decline in shareholder how far back do you go with this Management? 1,376,193,127 shares in issue After LCCM was purchased when the SP was 1.6 giving an mcap of £22m. On this alone we can see that LCCM carries no value within the Market, making us set for a rather stunning rerate once we get the PEPR.
Our “high point”. April 2017 to Jan 2018 we averaged an SP of 2.3p with an mcap of £55m with only 2/3 of our current Cobre income.
So back to that perspective. Was the Market wrong in 2017-2018? Is the Market wrong now? I am standing by my opinion that we are currently seriously undervalued and should easily see an mcap circa £35m on getting the PEPR and whatever we need to start production. On production I can see this doubling again.

"Boris Johnson bringing the leaders of the industrialised world together on Cornish soil will no doubt be a temporary shot in the arm for the local economy, and present an opportunity for local businesses to sign banner deals.

But it’ll be the longer-term work put in by the likes of Cornish Lithium and Strategic Minerals that will make a deep and lasting impact."

For those that like to read:
https://oca.sa.gov.au/LeighCreekTransformation

They do communicate well, my Australian friends are the same. It is a shame we are not quite getting the same interaction from within the company. Everything I have had is leading towards a positive outcome.

As to the housing, the coal mine was vast and operated for 70 years. The some of the associated accommodation must run back to that date and asbestos. https://www.mcmservices.com.au/projects/leigh-creek-housing-demolition/

Wed, 14th Apr 2021 07:00 RNS Number : 3486V

Chips and rice DVH, chips and rice.

"The Board considers that the current copper price, of circa US $4/lb, is likely to endure and is also encouraged by feedback from the Company's recent meeting with the South Australian Minister for Energy and Mining on the Leigh Creek Copper Mine project. Accordingly, the Company is confident that 2021 will begin to unlock the substantial value inherent in the Leigh Creek Copper Mine project and provide a valuable, significant second income stream before the end of the year."

I don't see much downside as the mcap is below that when we purchased LCCM, circa £25m. On PEPR will this be recalculated into our mcap? On Production can we add another $35m? Are we on the cusp of one of those legendary 10 baggers? The information is all out there for people to do there own calculations and summaries .

Whatever the plans are, they must be ready to implement which ever one is most suitable or available at whatever SP we will be on when the PEPR is signed off. We have had long enough to line the ducks up in the background. The must have an SP target which would make a fund raise via a share issue the most favorable option, as they must also have a loan option, a listing option, a JV option, a sell LCCM option and anything else I can't bring to mind right now. In business you should always look at all of the options, disregard the unobtainable and unwanted and choose the most favorable of the remainder based on conditions on the day. That day is almost upon us. GLA.

Unless most of the footwork has been done.

I would prefer the "free" asx shares option.

I believe that SA, Energy and Mining have all of the information and unless they ask for more, then we are totally dependent on their timescale and not ours. I look forward to their response sooner rather than later. Copper is refusing to drop back below $10k and SP is still stagnant. Is this a failure of the Market to understand what we have, a failure of the BoD for not promoting what we have with sufficient explanation or a failure of those of us who are investing to see what the Market sees? I would like to believe that SA, Energy and Mining would have put a halt to proceedings a long time ago if the intention was to not grant the PEPR. So I invest in expectation that they will. The mcap is below that of when we purchased LCCM and our revenue from Cobre is up to circa $3m per annum. LCCM is not even factored into the mcap. What happens when $35m per annum is suddenly added? £50m mcap? £75m mcap? . As a speculative investor, I see a massive upside to little downside. Only my opinion, but these days opinions seem to carry more weight than facts.

Most of us may not run to institutional holding quantities, but Pi sentiment can also have an effect on the SP. A positive sentiment makes for greater PI interaction. We went to 3p+ on PI investment and sentiment.

It makes a difference. Every PI who uses this website reads the chat rooms. Look at your holding, and others. Were you first introduced to SML on here or another site? For me it was here. I did my DD elsewhere, but this is the main introduction for AIM shares for many of us.

The PEPR is in the hands of SA, Mining and Energy. They work to their own deadline.

The BoD are doing their bit this quarter. This is when we can expect to see a significant turn around of SML's fortunes. We could do our bit by supporting and promoting SML on this essentially public forum. At this crossroad, we could stop making SML look like the worst investment choice for the speculator and casual investor who has no time to check the worth of Cobre and the fantastic job the team there are doing. Has no time to calculate the potential value of LCCM given the increase in the price of copper (given some of the comments here it looks like some of our dear posters have also not done so) and has no time to read the Cornwall Resources website and the potential of Redmoor.

To quote many a dear departed female relative "If you can't say anything nice, don't say anything at all." and "You catch more flies with honey than with vinegar.".

Mustang is in suspension and I suspect that the focus there by two of our BoD is taking a large chunk of their time. I hope there is enough focus left for SML, with two pivotal moments occurring in the same quarter. We need 100% focus on SML for both the way forward for LCCM and to promote Redmoor to the World at the G7.
I fully disagree with “the BOD are totally incompetent” as they are successfully making themselves a very reasonable living off the back of our investments. Perhaps we should look inwardly before pointing outwards. This has been stagnant for some time and yet here we still are.
I look forward to seeing a very healthy return on my investment in the not-too-distant future. The perfect storm in almost upon us. LCCM may well turn out to be a very shrewd choice. Feel free to sell Redmoor for £200m at any time.

Google translate: Business Speak "at this time" to English "at this SP".

'close to material progress' - I would agree
'various counterparties' - I have to accept his word as he is the one dealing with them
'severe undervaluation' - I will go for undervalued now and severely if we are not 1.5p+ after PEPR and way forward.
'understand frustrations' - Not sure how many of those share he bought with his own money outwith SML, but I am sure this hasn't gone to plan to date.
'business end...' - How about more public visibility?
'key focus on shareholder value' - I would focus on shareholder communication, positive sentiment will follow and the value will come.

Hard to tell if anyone is out there. They are all very quiet.

If it helps, in June 2017 we had 1,245,825,560 shares in issue (notified voting rights). So we have roughly 75% more shares. I still think I am being conservative with my prediction of circa £30mcap on PEPR and funding (1.5p - 1.8p). Things will happen fast once we get the PEPR IMO. If you don't have a ticket, you can't ride the train.