Member Info for Lupidog

I can say with certainty that they are not mine.

11th April 2019
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, is pleased to announce that its Leigh Creek Copper Mine ("LCCM") operations have recommenced copper production at the Mountain of Light processing facility and has, as a result of drilling, upgraded the estimated JORC copper resource at Paltridge North by 46% to 10,800 copper metal tonnes. The recommencement of production has been achieved with the completion of the plant refurbishment and the trial reactivation of the existing processing plant and heap leach pads.

https://www.youtube.com/watch?v=vjD3EVC1-zU

I would question their motives and their competency simply going by past performance. If I or my peers had made one of the many mistakes they had made, there would have been penalties and not rewards. To continue to make mistakes which costs so much to the company (financial and reputation) and which degrades the company value to sitting on it's asset value, is a question of competence. We are not talking about "bad luck". They can turn it around as everyone is "only as good as their last job". If we can believe what we are being presented about our assets, then there is a margin for recovery. But their have been to many statements and to many RNS's which turn out to not quite come to fruition. Many people have great vision and fantastic personalities. It does not mean they can steer a business even if they can draw a crowd.
The BoD need to stop with the Daily Mail headlines, no one is listening anymore (as proven by the mcap). Start providing results or sell the assets and move on.

Mustang has an mcap of £2m. It has 2 of the same BoD as us, circa £400k in the bank (as far as I read the RNS's) and running at circa £100k annual operating loss, nothing else except the LSE Shell.

SML Has an mcap of £8m. It has assets inc. LCCM, Redmoor (Cornwall Res), Cobre Magnatite (rolling lease access) £3m income, circa £800k in the bank and showing an operating profit in the last half yearly report.

Which should be the better investment? Which should be the safer speculation?

We need Wolves of Reddit.

We had a two-year decline on nothing but "good" news. It seems that the market understood what was going on better than the PI's. Now we have twice the shares which were never going to be added unless they brought "shareholder value" and still we PI's didn't learn. So now we have to question the asset value as other financials have been opined as to be not quite as correct as first presented. The market does not agree with our asset value and income, giving an mcap below that of both stated. As the income is presented quarterly, that leaves the asset "value" to be questioned. Either we are seriously undervalued or our assets are overvalued. All IMO of course.

So, "what does it take for SML to rise??"

Proven results and finance/turnover that covers part time wages for part time work in a small mcap company, no bonuses for under achieving (would anyone care to calculate the percentage of salary and bonus taken against mcap?) and penalties (not rewards) for company harming mistakes, also we need continual information flow. I think trust has already been covered. The we need to either produce from or just stop throwing away money at LCCM. We need "independent" input to actually be independent. We need a show of confident leadership and accountability and we need to stop refusing to acknowledge mistakes have even been made.
If good work is being done, then let us know about it with a steady flow of information. As to the outside observer (the Market), they just see a wall of silence, breached occasionally with news that is either to placate due to fundraising, placate due to delays, placate due to failure, exaggerate prospects or explain progress in a way which has been heard so many times as to no longer be fully believed. If you what “the Market” and PI’s to respect SML then you need to start respecting the people who fund your company and the prospective new investors. Otherwise all this screams is “Lifestyle”.

What do I think? I think that we need better communication from the BoD. I can see no reason as to why we cannot be informed when they have submitted their response and also no reason as to not explain if it is a minor issue or a major one? The 31 March (expectation) does give an rise to speculate that the response required is not trivial, otherwise why take 3 months. But I am sick of having to guess, when there is no regulatory reason not to keep shareholders as informed as possible.

"In late December 2020, the Company received official feedback from the South Australian government in relation to the PEPR application for the deposit and the Company is currently preparing a response, and expects to submit this to the South Australian government during the quarter ended 31 March."

Please let us know when our response has been submitted, also let us know if this is a trivial response that requires just a confirmation so that the PEPR can be approved straight after a satisfactory response. Or if this will require another 6 months of stagnation.

At least the BoD are "confident".

It is as if we either do not have assets or we do not have income from Cobre.

to sitting below audited asset value.

But did those others have the money, then pay it out in bonuses? Did they have the money, then find out they were in bed with a con artist? Did they do Due Diligence to find out that they missed the part about fines?

Trout it was the 10 Sept RNS that gave rise to the idea of the PEPR being approved by Xmas.

10 September 2020
“Given the level of detail reviewed in the draft submission and the encouragement received to date by the South Australian government, the Company feels confident that an approval will be forthcoming before the year end, paving the way for full scale operations to commence in 2021, subject to finance.”

It seems “confident” is just another buzz word and we shouldn’t be to confident about “confident”.

09 November 2020
“The reduced capital requirements, increased profitability and the market's bullish sentiment on copper prices, have strongly improved the attractiveness of the LCCM project and the Board and Management are confident that funding will be sourced after the Paltridge North PEPR has been confirmed, if not before.”

Sammy. It is not quite as simple as that. The Bod have stated they will put it to the shareholders and not admit their own (the BoD's) ordinary shares to the vote. So it is up to the PI's.
"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).
The Board's recommendation will then be put to a Shareholder vote (from which the Directors holding Ordinary Shares will abstain). "

If you say nothing, you give the impression you have nothing to say. I see no publicity campaign, no promotion and no update on Redmoor. It doesn't require an RNS to keep up a positive engagement with your backers. If you leave shareholders to talk amongst themselves, they will dissect the information they have to the 'nth degree and then some. Continual information flow is important. If you have nothing to say, then say you have nothing to say.

Waiting for the BoD to start communicating , rather than just constant silence between requests for money.

Happy Burns Night. It appears he also knew about Redmoor:
"Some hae meat and canna eat, And some wad eat that want it, But we hae meat and we can eat, And sae the Lord be thankit."

That's good.

Is trucking viable during Grockle season?

for an interesting day tomorrow.