Member Info for Lupidog

Your close enough DVH. $62USD. that's a bit short of the current $168 Market price for 64% Magnetite.

Mon, 12th Oct 2020 07:00
RNS Number : 6875B

2020
Tonnage 60250 Sales USD 3,741,000 = $62T

Yes, another door for us to open. AB must be looking into this.

Going on the Cobre sales figures for last year, we appear to have been receiving around $16T for the Magnetite. Can someone please confirm by reviewing the financial RNS. I must be mistaken.

Yes Cornish. My mistake was thinking that the Magnetite was not viable commercially, as it had only ever been sold as HDM during my holding shares. I had not looked into possibility that Iron pricing would bring us back into the realms of redirecting sale focus.

I will revise my last statement and stand corrected. It was well before my time investing here.
We have access to a stockpile of "treated" Magnetite "at an average grade of 61.7%".
The Market was at $180T when Cobre Magnetite was economically viable enough for SML to sell as Iron Ore. At circa $110T the price was considered not as attractive as selling the Magnetite as Heavy Dense Media to industry, instead of Iron ore. The current price of $168T and rising may well open new opportunities for a return to selling the Magnetite as economically viable Iron Ore. I am sure our resident part time mining expert is looking into this for us.

We do not have Iron Ore.

Must be due the Q4 update very soon. It will be interesting to see the their financial update versus trouts financial dissection.

We just need a reconnect with the BoD. They need to be more active on communication and more open about where we are and what is happening. This constant "heads above the parapet" only when money is needed, discredits even the most hardened advocate.

Simply looking at what I see. Any buying ticks us up. The PEPR is due. We are in Make or break time for SML and if we see the PEPR and go straight in with a funded plan for LCCM we will re-rate IMO to around £30m mcap. The downside is where we are right now. If the company has to sell it's two tangible assets, we more than cover the current SP so nothing to lose. This SP is here to stay on no news, so less of a gamble than most AIM shares.

Dare I say "last chance to get in this side of 0.5p"?

It appears that any buying pressure will shift this upwards. So we need the PEPR to start the upwards trend.

That is probably the main reason we have 0 sentiment. Our trading statistics have been dire with no interest shown from the market for far too long. We don't even have 100% focus from our leaders as AB and PW have their fingers in many pies. If they need to cast a wide net in the hope of catching one fish, it does not show any real faith in one single project. Unless MUST is a cash cow for SML to milk as they are only £1m short of the we need to have another go at LCCM and "the Company's preference that the target is generating cashflow or has the capability of generating cash flow within 12-18 months of acquisition". "as a result of COVID-19, we are now also considering opportunities across the energy & resources space as well as possibly beyond it "

"The imparting or exchanging of information by speaking, writing, or using some other medium."

Is there any AIM rule reason why we cannot receive an update on our PEPR application? Something needs to be done to improve communication and raise sentiment. The small, free, simple, easy things go a long way when heads are down.

Not that much of a secret.
"Smith was arrested on August 27, 2019, and was indicted for securities fraud and other charges on June 2, 2020 in U.S. District Court for the District of New Jersey."
https://www.sec.gov/litigation/litreleases/2020/lr24850.htm

"The price of magnetite product sold to these markets is not linked to iron ore prices."

We don't have Iron Ore. We just have an annual rolling contract to sell the mill processed byproduct Magnetite from Cobres copper mining operation.

As we are sitting with an mcap below our stated asset value, I guess it's a reasonable gamble. PEPR for LCCM due, which should then be followed by a means of funding to get LCCM producing. Looking good for a reasonable rise IMO.

Yes

You need to inform the Company that you wish to be notified of any future placings, if you wish to take part in any share issue. If they do not know your intent, they will not offer them to you. As Options are a performance/investment based incentive, many companies only offer to those within the company or significant holders / major investors. If they cannot raise this way, then you may see them come to the Market offering a reduced price at point of sale with no Option option.

Looks like it.