Member Info for Lupidog

Aye, I had a similar interaction with them during the same period. They were quite forthcoming (within limits of what was regarded as non confidential) and gave a well explained response. They have an auto reply, saying they will respond within 2 - 5 days.

Thank you gorsuch. I have queried the delay with DEM.

Does anyone have the PEPR application number please re: RNS Number : 0731L Strategic Minerals PLC 29 December 2022?

I do not have the number to hand and I cannot get the SARIG map to open on my machine.

I want to ask DEM about the delay and if (as we have been told) the reason is "that the Department was focussed on the clearance of a large project and that LCCM's PEPR application was not prioritised, especially as it related to works that would not be undertaken until at least one year after re-commencement of operations at Leigh Creek."

I would like to keep them onside with the correct PEPR application number rather than have them searching just dates and names if possible.

It is up to them to persuade us and new investors differently. Looks like too many directors are focused on Cykel rather than SML. They took our money and gave us limited focus.

Redmoor is no plot of land. It is a mineral exploration licence area. We own no land.

There is plenty for new investors, if Redmoor pans out and the Cobre income is not wasted on over-inflated salaries and bonuses for pitiful performance. They need to make a decision on LCCM. Mothball or sell, but no more can kicking.

For us "old" investors, well we were drawn in with what turned out to be sewer gas rather than nickle sulphide, rare earths and copper.

The annual accounts wrote off LCCM and were closed off 31 Dec 2023.

We were told via RNS on the 18th Jan 2024 "Accordingly, the Company is hopeful it can deliver positive news on both projects during Q1 2024". The "both" refering to Redmoor and LCCM. This would indicate that although LCCM has been relegated to fully impaired against the book, talks are still ongoing. I do believe that it is about time we had an honest and straight anwser with regards to the current (to date) position of LCCM. It is unacceptable to treat the shareholders with such partial and sometimes IMO misinformation. Copper is still $2000 above the price that the financial viability assessment was done and we still cannot get funding. Something is not right.

I see MUST relisted. Is that another amazing shareholder value deal by PW and AB?

We may or may not have a copper asset DVH. The current issue appears to be funding for the bond. It is possible that LCCM may be commercially viable of one company with the bond funds. Just not for one company +finance or two companies in a JV. It may still be of value if it is sold. It is unlikely that we would be told either way as it seems that silence if preferred to owing mistakes.

Can somone with better accounting knowledge than me please explain how LCCM can have had a book value of $8.898m when the total company market value is $3.8m? Is this another way of saying we have spent and lost $8.898m on LCCM to date? Can the BoD please explain how they have got it so wrong with LCCM and what penalties will be involved with those making such company destructive decisions?

Not yet

We knew most of this and guessed most of the rest. There is nothing new here. We knew the finances were bad last year and many indications were that LCCM was a dubious purchase from the beginning. If we can rid ourselves of the millstone, we would be in a good place to move forward with a decent income stream from Cobre. Somone needs to to take responsibility for the $9m hit of shareholders money and fall on their sword over LCCM. The BoD need to reduce their ridiculous salaries (not just defer them) to ones suitable for a very small explorer company. If we can unecessary financial drain of reward for failure, we would actually be in quite a good place to grow.

We should be getting the end of year results within the next 10 days. They should be bolstered by the uplift in Cobre take off. As our mcap is purely justified by Cobre, it should make interesting reading with regards to Redmoor and LCCM. This years results should be positive and should also have a positive effect on out abysmal share price IMO. As LCCM was meant to be a second income stream at least 5 years ago and has failed miserably at that to date, what is the way ahead that does not involve another 6 years of money out rather than money in. Eventually we have to run out of road to kick the can down. We stopped being a speculative minerals explorer, with the risk rewards associated and have become a chuck wagon stuck in the mire of LCCM.

The deal must still be under discussion Prop, but no harm in advertising. If it were not the directors would be buying at such a low price and with such an amazing asset, to show the Market the confidence they have in the project.

But back in the real world, with the Millstone of LCCM hanging around our neck, we are just in for many more years of more of the same. Can we please get a decision on LCCM .

Certainly with the monetary sums being talked about, it would required an experiencedand well funded team to take on. One of the larger and more established mining companies. Ripe for a T/O if deposits proved.

Thank you AIM. PW spinning the record. Are we getting close to the AGM? The results should be interesting when published. So we have these results possibly this month and also the end of year results. 2 RNS's due soon. Just the one explaining wtf is going on with LCCM which is adrift and we are still waiting on. As DVH mentioned, transformational news is one of a few possibilities. More of the same being another. "Holding up well" is not a term I would use. Being underpinned up by Cobre is the reality, with no value assigned to LCCM or Redmoor.

He may be a very good financial expert. It is us loosing value while he is racking up deferred salary.

I would rather we just sell it to try and recoup what we have spent on it and move on. It has been a financial liability from moment we purchased it 6 years ago, when our mcap was £26m. Given our BoD's reluctance to admit to any mistake, they will probably drag LCCM out for many more years to come. Everythng about the purchase rang alarm bells. From the point that the company we bought it from were given LCCM and a cash incentive to take it, all the way through to the due diligence. We had permissions to operate it at the time when we had the money to do so. Yet here we are.

It appears to indicate that it will not be funding when PEPR approved, but rather PEPR approved at some time after funding is found. An update as we have passed an expected timeframe would help.