Member Info for Lupidog

Were they?

Company Update
Mon, 2nd Mar 2020

We should find out soon about this year’s rollover as:

“As no notification has been received by the end of February 2020, access to the magnetite stockpile at Cobre in New Mexico, USA, by Southern Minerals Group (SMG) has been rolled over until 31 March 2021.”

How long is “medium term”?

“Board confirms its desire for strategic, medium term, exposure to copper production and longer-term tin and tungsten”

11 months later?

“SML is preparing a draft PEPR application to be submitted by the end of March 2020. The usual procedure is for the draft to be circulated to relevant government departments for feedback prior to formal submission. Accordingly, approval is expected late June quarter/early September quarter.”

Is the candle still on at Hanns Camp?

“In light of cash requirements associated with both the Leigh Creek and Redmoor projects, the Company has curtailed expenditure on the projects of Central Australian Rare Earths Pty Ltd ("CARE") and this is expected to be the case throughout 2020.”

Positive words, not reflected by positivity from “the Market”:

“SML has full control over three exceptional projects, one of which provides sufficient cashflow to cover the Company's fixed corporate overheads and minimum commitments. This provides the Company considerable optionality to monetise each at the most appropriate time in commodity price cycles. The Board considers this sustainable flexibility an enviable position to be in with a solid platform for future growth”

Morning DVH. RNS logged perhaps? Or just the usual daily seesaw? This is my wildcard so it is like putting my money on green because it hasn't come up in the last 70 spins.

The Market took the news of our new significant shareholder well. We almost hit 10 trades.

would be good if we could hit 0.666p today.

My opinion is that they made a statement of intent and that they have yet to abide by it and that as an LSE Main company they are bound by LSE regulations. I do not know if they have breached those regulations or if making statements in RNS's or that not sticking to them is acceptable under those regulations, or what period of time is acceptable after a given end date to notify shareholders. It may well be that the notification is "in the post". It clearly states "if an acquisition has not been announced" and does not say "if negotiations are ongoing we will not notify". My opinion is othat they have to make a statement to retain any credibility.
"The Directors note that as disclosed in the prospectus dated 17 July 2019, if an acquisition has not been announced by the end of January 2021, the Board will recommend to Shareholders either that the Company continue to pursue an acquisition for a further 12 months or that the Company be wound up (in order to return capital to Shareholders, to the extent assets are available)."

It may mean they see the potential for the rise they wish to sell into.

I would rather work with experts and due diligence to achieve positive results. We appear to have experts because they told us they were. I have not seen the Due Diligence, so I can't see if the production issues were highlighted or missed. It is hard to see where the error lies, is it with the DD or the person interpreting the DD? Either way without identifying the errors, we can't hope to rectify the mistakes of the past. Which does not bring great confidence this time around.

“This calls for wisdom.”
We could use some wisdom in the form of new experts, as our old ones appear to have missed all of the problems that led to non-production.

“Let the person who has insight calculate the number of the beast”
16 Oct 2017 “The Board believe the Project represents a near-term low-capex copper production opportunity with early cashflow generation pot”

“for it is the number of a man.”
Which one? Who made the mistakes? Who pushed for LCCM? Who did the DD? Who is taking the responsibility for the multi million-dollar decline?

“That number is 666.”
666 days, 505m shares, £14m mcap decline later and we are waiting on news of submission of a response to feedback on a PEPR for planned copper mining.

Happy Number of the Beast Day. 666 days since we "started production" at LCCM.

"This calls for wisdom. Let the person who has insight calculate the number of the beast, for it is the number of a man. That number is 666."

Sammy, MUST is not an AIM stock.

Alan Broome? Who is that? Does he work here?

As you used his name in response, he must have posted. I have had a better week since filtering him. Each to their own, but he is someone with an agenda. He must have lost a lot of money here or has personal issues with one or more of the BoD. We can all be negative, but his negativity is bordering on stalking. I will no longer give him the benefit myself as his audience.

April 2019
Cusp of production at LCCM. The mcap was £22.816m and we had 1,404m shares in issue at an SP of 1.625p 50% ownership Redmoor
Feb 2021
We now have 505m more share in issue at 1909m with a required comparable SP of 1.196p to hit the same mcap of £22.816m.
What’s changed in 665 days?
(Major client at LCCM was already not paying us so this is removed from my equation)
We are on the cusp of production at LCCM again
Copper much higher and global stock levels are very low and continuing to drop
We own 100% of Redmoor
Tin/Copper prices surging and Tungsten is in high demand

Only another 110% to go to see us at the mcap we were at pre LCCM production the first time round when we only owned 50% of Redmoor. 1.5 to 1.8p target on PEPR and funding IMO.

oooooooh indeed.

The plan was to produce at LCCM to fund Redmoor. Instead we seem to be selling at Cobre to pay bonuses and raising funds to keep the lights on. Then raising more funds to cover what should have been depreciated against the books over a set time period. 665 days since we "started production" at LCCM. 665 days is a long time to kick the can down the street.

"The reasonable expectation on anything materially progressing for SML would be the end of the second quarter"
Prop, that would fly in the face of the statements made by PW in his last interview. We have to have credible interviews from our BoD so we must give PW the benefit of the doubt.
To quote DVH quoting PW:
'close to material progress'
'various counterparties'
'severe undervaluation'
'understand frustrations'
'business end...'
'key focus on shareholder value'

there is mass publicity, a funding deal, tweets to influencers, posts to WolvesOfReddit or other Reddit posts extolling the below (helpful idea for tweeters and redditers?), we probably have another few months of nothing happening. As once we have responded to the SA Gov regarding the PEPR ("expects to submit this to the South Australian government during the quarter ended 31 March"), we then need to await their response in turn.

Strategic Minerals London based AIM Market SML ticker.
This is awaiting a PEPR to start producing copper from its Leigh Creek, South Australia holding. It also owns a world class Tungsten/Tin/Copper Mine in Redmoor, Cornwall. It is currently valued below its asset holdings @£8m and also has $3m/usd annual income from its Cobre Magnetite operation.
On award of the PEPR (delayed into Q1 of this year) it should announce a way forward to start producing copper/copper cement, which is currently only extremely low global stock levels and riding a high of nearly $8k/t. This should push the Market Cap into the tens of millions once production starts. It has had a few hiccups along the way, but we are looking at H1 2021 for revival of fortunes.
This second income stream leads the way to further finance Redmoor (A Cornish Mine of Global Significance), 100% owned by SML and operated by Cornwall Resources Ltd, the operating company for the Redmoor tin – tungsten – copper project.
Worth some research? An AIM company with a revenue stream and on the cusp of securing a second revenue stream to upgrade and pursue a new globally significant resource of 11.7 Mt@1.17% Sn Eq inferred resource in Cornwall.

They always sounded like Genesis to me, but with more screaming.

There is some conjecture as to the Number of the Beast, as in relation to the Beast of Revelation in chapter 13, verse 18 of Book of Revelation. 666 is a translation from the original Latin texts using Latin (Greek) numerals. However the translation using Arabic numerals as used in English is 616.
Using Latin as the base; This Wednesday 03 Feb is the Number of the Beast 666 for LCCM as it will be 666 days since we "started production". My astrological calculator indicates there may be only 584 more days of production left as L+C+C+M (50+100+100+1000) =1250 - 666 = 584.

No Sheep were harmed (much) in this divination by haruspicy.