Member Info for Lupidog

We have been told things before which turned out not to be quite so accurate.

I disagree Bitcoin. We do need all options available to be discussed. Nickle may have his own agenda, as do we all. But dismissing a cash call when we have no cash to move our projects forward, would be denying a possibility and recent historical events. All possibilities are just that, possibilities. We have a history of denying, then raising cash. I doubt many of us want that to happen, but simply disliking it, doesn't discount it.

than trade insults. Ask questions based on the information we have. We can all see the cash in bank. We can all see the income from Cobre. We know we own two assets which we cannot afford to move forward without a JV or a massive cash injection. We know we could probably sell Redmoor and avoid a cash raise, allowing the BoD to try once again to bring LCCM to production. Which would allow us to be in a better position to peruse another project. We know doing nothing will see us stagnate so something has to be done. So what do we do?
Find a JV? Our position is not the best for negotiating a JV and we would give away a substantial part of either holding which would drastically reduce our returns.
Sell Redmoor? My preferred option. Giving us a financial break to sort ourselves out during the pandemic.
Raise Cash? Well, it cannot be dismissed. We can't move forward without our own or someone else's money.

You forgot Troajan sitting at number 7.

I am afraid I wont be laughing quietly at either of you. mcadder and Singhwhenyouwin Filtered. Inane childish drivel from both of you.

The World is a Circle is now stuck in my head, tx.

We have had a lot of statements "in black and white" which never quite materialised.

"subject to finance" What does LCCM already owe us and then what will be the payback time on the original purchase outlay + the investment since we purchased and now the extra finance we will require to "commence operations"? "Significant cash flows" sounds just as realistic as "tsunami of cash" right now.
Expecting operations to commence is not as definite as operations commencing. Operations commencing is not production commencing and "lead to significant cash flows", has no time frame given and could be years away. Redmoor needs 10's of millions and we don't have it. Sell Redmoor again AB so we can move on as a company, just like NAE.

Surely if AB's expert opinion was to sell Redmoor and use the cash to advance NAE. He must now have the same opinion here as he is now in the same boat when he sold it. LCCM will probably not starting to pay us back within the next couple of years so we are in limbo stuck with an asset that is only good to be sold. Probably along the same vein as he sold it to himself last time. 50% JV to another company then they buy it out (hopefully we can break even). All in my humble opinion of course.

So a mining expert decided Redmoor was not viable to pursue, for a small globally diversified minerals and metals exploration and development company with minimal cash in the bank? What does that same mining expert think SML should do with Redmoor now?

NAE, a globally diversified minerals and metals exploration and development company with AB as the chairman.
Nothing in this we don't already know, apart from why was it sold, and why did we buy it. AB must know the answer as he has great interest in both companies. What was wrong for NAE, but right for SML Alan?
https://www.nae.net.au/wp-content/uploads/2020/09/Annual-Report-to-Shareholders.pdf

I had forgotten the thrill of AIM. Down to 1m bottom draw. Off to play the market and have fun again.

DVH I reduced my holding on the way down then fully when I gave up on some of the posters, so I made a fair bit but not as much as when it was at the peak. I bought back in at 0.4 but reduced down to 1m yesterday, to buy more here. Swings and roundabouts.

I bought on the drop as AIM is a gamble. You can make informed "bets" with as much google research as possible. Many tricks are used by both those wishing a lower buy in price and those trying to hype the price. The rewards are greater, for greater the risk. I have only ever had one 10 bag (SML) and this IMO has the potential to be my second. Potential is not is nothing more than "best guess" based on available information and market trends. If you treat AIM like a Casino, then you can't go far wrong. The house always wins, but so do enough individuals to keep the dreams alive and the house open.

I ignored and took the opp to top up yesterday. This is fun.

Just the 0.2p sell orders triggered. It will bounce up again.

Please remember that we are currently sitting below our audited asset value. Nothing we do should negatively impact the mcap unless we devalue our assets.

What was the reasoning behind NAE selling Redmoor to SML? Alan Broom sold Redmoor to us so that we could do something with it? Now that he still has it what is he going to do with it again? Our mcap is roughly comparable with that of NAE at the time of sale. So how can we do, what they couldn't do with the same expert and the same finance?

Sorry Sammy I don't give financial advice. I look at available information and make educated assumptions for myself. We have few choices with regards to Redmoor:

Keep it - Just don't see a compelling business reason to do so
Sell it - Get some money in the bank for something we can afford to progress (Favorite of mine)
Grow it- Keep pecking away at it. Increasing annual expenditure for hopefully increasing value (financially ouch, as it stops us funding anything else)
Produce it - Do something we haven't done before with our team of experts (don;t even go there)
JV - IMO We would end up giving away more than we are worth and being taken over

We need a JV with a company large enough to cover the costs plus some. From experience, IMO the costs would grow and a financial plan for at least double to cover unexpected eventualities would be prudent. How much of Redmoor would we have to give away to cover all costs as, the costs are more than our companies current value? We certainly don't want to more than double the shares in issue to cover this. A sale is looking more favorable than a JV with a company who is not large enough to absorb the full financial requirements.
The Market (those many hundreds of thousands of informed investors) can see what we have and choose not to invest on today's news and i can understand why. Our current mcap is the result of the historical performance of our BoD. Quite simply, we will have to raise more than our current value to proceed and that leaves us ripe for a sale or a buyout.