Member Info for Lupidog

As you can see below, if you look at the jigsaw long enough you an find a few pieces that fit together:

We need to find $2,829,035AUD to be able to start with the existing Oxide (we have had the PEPR for 2 years. How long are they valid?)

The latest and continued small update is that we continue to seek the capital to do so.

Q1 obviously did not happen.

The main PEPR application is not “time critical” for reasons explained.

From: 29 Jun 2022 13:57 RNS Number : 6761Q

“As part of the negotiations with DEM in relation to the original conditional PEPR issued in July 2021, LCCM were able to reduce the rehabilitation bond by approximately AUD 800,000 from AUD 3,700,000 to AUD 2,890,000 reflecting reasoned proposals from the Company's mine manager John Speck. As LCCM currently has a AUD 200,000 deposit with DEM, this represents a net funding requirement of AUD 2,690,000.While reviewing further information supplied by LCCM in relation to the conditional requirements, DEM have increased the required contribution to the Native Vegetation Fund from AUD 81,398.52 to AUD 139,035.”

From: 10 Apr 2024 07:00 RNS Number : 9183J

“The Company continues seeking capital to commence operations.”

From: 28 Sep 2023 07:00 RNS Number : 8682N

“It is the intention of the group that the LCCM asset will be developed during Q1 2024 and management are actively pursuing such funding and envisage that this will be sourced at the asset level.”

From: 14 Jul 2023 07:00 RNS Number : 9881F

“The Company's enquiries of DEM have indicated 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. Again, it is noted that this PEPR, for the treatment of transitional ores, is not time critical.”

The claim is confirmed at 160k. The receiver does not say at what cents to the dollar it will be paid at or even if it will be paid.

Https://broadreachreceiver.com/uploads/1/3/2/9/132950887/2024-04-30_no._310_15th_quarterly_status_report_277145695.1_.pdf

"The SMG claim has now been confirmed in the amount of $160,000.00"

Sam

The extract below is from RNS Number : 9529E, Strategic Minerals PLC, 12 July 2021 - Todays price is $4.76/lb with an exchange rate AUD/USD 0.67%. Copper has gone up and that has been balanced out by the exchange rate doing us no favours. The margins are there, but are they there if shared? The BoD say they (to a large extent) expected the associated conditions and that the bond was higher than expected, but managable. 3 years later and we have not really moved at all. We had 1.9bn shares in issue with an sp of 0.5. Our current mcap is less than half of what it was back then. Information is not forthcoming and lessons do not appear to have been learnt. If LCCM was commercially viable it would be producing IMO.

"As part of the approval, the DEM requires:

· An environmental security deposit of AUD $3.7M.

· Native Vegetation Fund contribution via a Significant Environmental Benefit payment of $81,398.52 to offset for native vegetation clearing.

To a large extent, the conditions associated with the approval were expected and reflected on LCCM's PEPR application. Whilst the bond requirement is larger than catered for in the Company's financial modelling of the project, the Company is comfortable with this level given the current overall amount of funding being sought.

The Company considers that the cost of funding the additional environmental security deposit will have a negligible effect on the profitability of its planned accessing and processing of material at both Paltridge North and Lynda/Lorna Doone (the "Project"). This impact will be more than offset as current market parameters indicate an increase of around 20% in the LCCM's Project profitability, reflecting the current copper prices and the AUD/USD exchange rate (US $4-28/lb and 0.7500 respectively) compared to the previous levels employed (US $4-00/lb and 0.7800) and the Project's 50% operating margin."

I think "recapping" is helpful. These are company news releases. These are the statements by the Board of Directors about the company, its health and intentions. Recapping shows exactly what we were told versus reality, giving a historical context. It reminds us of why we invested and why we are where we are today. If we are not given the expected updates "Accordingly, the Company is hopeful it can deliver positive news on both projects during Q1 2024" (LCCM), we can see it is business as usual and have to "chat amongst ourselves".

Amazing how far we have progressed in 4 and a half years. People reading that RNS (22 Nov 2019 07:00

RNS Number : 2908U) could be forgiven for investing. An interesting read or recap for those who invested on it. The question is should the BoD be angry at the shareholders or should the shareholders be angry with the BoD? I guess that is down to the individual.

It should be and yet we have had 2 loans and 20 million warrants since the Cobre uplift.

Surely the Bond would have come under the planning of the project before purchase.

Copper going up to over $5lb ($10,300t) and the market reaction is to drop our SP. I guess if we were a copper producer it would be different. If only we had shovel ready oxide.

Half way through Q2 and no update on LCCM other than the January hope of delivering positive news during Q1. When is enough, enough? 2263 days since setlement "We believe that we will resume copper production in approximately one year." . Copper was only $7023t back then, currently (as DVH pointed out) $10220t. New has to be very soon either for a deal, a sale or mothballing.

The world top 4 tungsten producers are China 75% globally, Vietnam, Russia then North Korea. Anyone see an issue here?

Sam. The reasons for their drop appear are reasonably clear. Higher fuel, energy, labour, etc costs since assessment. 40 miles away from Redmoor. Some extraction/production costs could be shared and therefore reduced with a JV, with for example CRL. If we ever got to that point. But the inflationary costs could not be mitigated in the same way and the top end is at the whim of the prevailing market conditions. We are on the cusp of requiring a lot of tungsten for military applications, not least vast quantities of penetrating ammunition. If a hostile environment. This war critical material will need to be sourced as locally as possible. Watch this space for CRL.

Is back over $10k. Come on BoD either make a deal or make an exit. If you can't do it now, it will never be done.

I would laugh but I just calculated what you said casper...

Not a dog of a company. It is an AIM company with (at the moment) good income. The current SP is reflecting the sentiment and not the possibilities. It is not impossible given past performance and directors remuneration, to come to the opinion that this is a "Lifestyle company" and not one going anywhere. Since taking over in 2015 they have managed to double the shares in circulation (apart from a brief rise on excellent spin), return to roughly the same sp as when they took over and paid and rewarded themselves vastly over the odds for a small "miner". There has been no show of penalty, culpability or apology for the performance. There has been no indication that we are not in for more of the same over the next 9 years. Due diligence has been questionable, some statements have been questionable, some actions have been questionable. The non investment by the chairman is showing a lack of faith. The shareholders are publicly insulted. The outcome of all this is that the same BoD are still running the show.

Yet it is still not a dog of a company.

Any of the below may happen:

If we have what we are told we have, we must be ripe for a TO.

Cobre is good (with the customers intact) for a couple more years of income.

CRL could probably go it alone with the right buyer.

LCCM can be mothballed or sold, to stop bleeding us dry.

LCCM could actually deliver (I doubt in my lifetime).

Spin could outlive memory and deliver another short spike.

Someone could put their hand up take responsibility.

The Chairman could buy a couple of shares and show that he actually has some faith in one of his many companies.

All of this and still not the worst on AIM by a long way.

We don't need to mine. We need to get to "Measured Mineral Rescource" rather than "Inferred Mineral Rescource". Then if economically viable we can sell or fund or JV.

We should get to a point soon where the BoD will either prove many of us wrong and state that we have a PEPR and funding for LCCM, given the high copper price. Or they should have the balls to say "we made the mistake many of you thought this was" and mothball or sell the money pit. The focus and Cobre money could then turn to CRL.

LCCM is the gift that keeps on taking and 6 years is more than enough time to enough. Put up or shut down.

Looks like the Market has given its response. It will only accept results, not spin.

Depends if there are any speculators left to speculate. This RNS takes me back to the boom days of Hanns Camp. Pictures of cores, and wording to match. It "boomed" back then so why not now. Let us hope that lessons have been learned. They certainly weren't by those of us still here.

We have a years worth of Oxide out of the ground. We have a PEPR to process it. We are shovel ready. Sounds like a good investment. I wonder who would invest on positive news like that. When it doesnt happen.... well, just don't be a heretic about it.

I think the BoD knows exactly what it is doing, otherwise it would be incompetent. Therefore the only reasonable understandingmust be that most things are happening by design. How long can you drag out a meal ticket?