Member Info for Lupidog

The following may be wrong:
I have tried to calc P/B.
I have used Book value = Total Assets – (Intangible Assets + Total Liabilities) based on the unaudited June 2020 Financial statement.
My ignorance here shows as I do not know if the financial statement is in USD or AUD.
If my calculations are anywhere near correct then our P/B may be:
USD based statement
P/B 0.89 which means the SP would be 0.48 to balance (which means we are slightly undervalued by the Market before intangible assets).
AUD based statement
P/B 1.21 which means the SP would be 0.35 to balance (which means we are slightly overpriced by the Market before intangible assets).
I am not an accountant and the above figures may be slightly or totally incorrect and may not be based on any reality. If there is someone out there who could confidently work this out, then please do so.

We value our Assets (Property, plant and equipment) at $6.9m (is that aus or us?). Most probably someone who knew what to do could easily take the Half year results and give us a book value which is then easily translated into out P/B.

If you look at the latest financials we show Intangible Assets. That is hard to related to Book Price as "An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets." (tx Google).

Don't know what the book value is, so can't work out the PB. But it is why I was surprised at JP blaming the Market (not understanding SMl) for our share price. The book value for LCCM was Zero minus cash incentive before we bought it. Now it's current value to us is 0 (+ assets), plus what someone is willing to pay for it ( any assets on sight may have some monetary value). Redmoor is pretty much the same until a proven viable economic model is produced. Hanns Camp is being written off so Zero there. We do not own Cobre so that has 0 value as a asset unless contractually tied into any agreed sale. I would guess our book price is rather less than the £7m share price and that the Market has us just about right until we come lose some liabilities or come up with a plan to show one of our owned properties has commercial worth.

Now, if we could just manage a 32 miles test hole:
dailymail.co.uk/news/article-8745815/Globally-significant-levels-lithium-spark-mining-Cornwall.html

The bod will also loose out from a further placing:
I would say that AB has just de-risked himself, rather than losing out.

The share issue was to cover the remaining debt at Redmoor:
Who did we owe this money to? Who is the chairman of the company we had to pay?
Did we just buy the remaining 50% to have 100% ownership so that we can give 50% or more away in a JV?

"crazy to raise at there prices? I suspect they will raise at any price when they need money.
Thu, 4th Jun 2020 07:00
RNS Number : 8945O
"Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, announces that the Company has raised £1,100,000 before expenses by way of a placing and subscription of 244,444,444 new ordinary shares of 0.1p each in the Company ("Placing Shares") at a price of 0.45p per share ("Placing Price") (altogether the "Placing")."

I do not have your knowledge. But from experienced sometimes it is cheaper to start from scratch, than to move/change/remove and setup new. This may not be the case, but we have a resource and a blank canvas.

We could always sell Redmoor. If Wolfe was able to get £2.8m for Drakelands/Hermerdon we could be pushing for a tad more for Redmoor.

Thu, 11th Apr 2019 07:00
RNS Number : 8395V
Strategic Minerals PLC
"The Board of SML thanks the LCCM team and our engineering contractors (PPM Global) for the excellent work they have conducted in restarting production at the Mountain of Light facility."
Thu, 10th Sep 2020 07:13
RNS Number : 5958Y
Strategic Minerals PLC
"As reported in the 1 September 2020 RNS, an independent third party has been contacted and we can now confirm that PPM Global, who have operated the Mountain of Light plant for both the Company and the previous owners, Phoenix Copper, have been engaged to update and review the likely capital cost of developing the Lynda/Lorna Doone deposit."

We have managed to redefine the term independent, when associated with Leigh Creek.? Not sure if that counts as progress or just a grammatical evolution.

Let's hope that the something that will lead to "something really big" is but a few short weeks away (Redmoor).

If we get up and running at LCCM I would have thought a minimum 12 months minimum and after costs/taxes 30% of revenue left as profit split between us and JV.
Therein lies the problem. My guess is based on my previous experiences (oil and gas) and not on the reality of a Copper Mine. We would need to know the Copper % in any cement to put a tonnage price on it (anywhere between 60% and 90%). So at least we can start with a rough baseline between $4100 - $6100 at today's prices. Let's call it $5100. That leaves $1530 to split between JV partners @50% leaves $765t.
$765 x X(tonnage per month) = $?PCM
The above figures are utter BS with a hint of reality. If anyone can bring this closer to a smaller ballpark please do so.

There are to many LTH here waiting to recoup their losses. So any blatant ramping or de ramping is shut down, because there are to many investors who know the whole history inside out and who are ready to assist in keeping the board factual.

Not bearish and neither ramping or de ramping. Just saying it like it appears. It's a gamble that may or may not pay off. There's a lot of history to get to this point. A few more weeks should show Redmoor's hand.

I know Sam, I listened many times.

"expects market to pick up on underlying value of its assets".
Nice sentiment. Now please break down how we value our assets? Because the Market is valuing them at £7m, which seems rather reasonable given our current position.

when we had Cobre and Care, then onto sniffing at Redmoor (which is always a question as to how we managed to acquire Redmoor so easily if it has the potential we allude to. Who steered us onto Redmoor and then LCCM?) We were what we were, a small AIM company with enough income to work a prospect in the hope of finding the mother lode. It was a safe bet as the costs were covered and we could afford to explore. We appear to be a much different company now with the same people. We now appear to be an overstretched company relying heavily on the kudos of income from an asset we do not own, with 2 holding which we can't afford to do anything with. Making large company decisions, with large company remuneration packages with the same relatively small income which barely keeps the lights on. This is no longer the AIM safe bet, but a distinct gamble.

They were exciting times where the possibilities were the drug of the day:

CARE
As a result of the inability to locate an economically feasible deposit on existing tenements, the exploration assets were fully written off in the 2019 financial year and the Company has begun winding up the subsidiary.