Member Info for Martin68

I would like the opinion of any oiler. With ICW2 not being in the sweet spot, would that mean ICW2h isn't worth doing and we would need to go for ICW3h?
I can't image DW hasn't negotiated for cash to be included, its what we need. He would get what he needs to go after the unconventional on his own and not have to FO for that as well. I don't think there would have been any FO if WINX came off.
IMH

Hi Cornish
Thanks for you input. It's good to have someone with a work based knowledge on what is involved. By now you must know I'm not in your trade. I understand your points of what needs to be done and when but will have to research some of your technical terms to get a better understanding of what is involved.
I'm glad the local community will have a good reason to support the project given the estimated numbers of workers you said would be required. If it's anywhere near your estimated workforce this should support other business/employment in the area catering for their needs during their working day in their effort to build and keep the mine operating over its 10+ year life span.
That amount of employment wouldn't be sniffed at in any part of the country, especially the north of England which is largely a wasteland these days.
Your reply is appreciated.
ATB

Richyptamworth. Thanks for just describing me as a dampener and not the usual de-ramper. You say "The mine will still create a lot of jobs for workers in the other aspects" but I noticed you didn't expand in any way where they would be? I'm here to make money and realise the benefit of getting machines to do the job for us will be a lot cheaper than employing people, so it is a big cost saving for us. I feel it's important to keep the people in the local area on our side, as with so many companies especially in the UK, some of which I'm invested in UJO for one where 1 or 2 people can make a big difference to a project going ahead or just sat there doing nothing. I live in Blackpool and there is a fracking site about 4 miles from my house which has been delayed for at least 3 years. It has been plagued by delays and stoppages as a minority of people are against it, the police are often called in to break up small crowds, in our country I feel the minority rule and I don't want that to happen to us.. Maybe it's best the locals don't know until it's too late to act on it. The replies from my post of Thursday at 19.56 covered many subjects but the machines were the only reply commented on, so I replied. I'm heavily researched and this is my top share by far. BB members are constantly on a downer that the SP won't move on a share that is clearly a LTH and you will find the recommendation by the market overall is a hold on this share. After the 13th of April RNS comments were all about can we pay by the end of May, our bod must think so or wouldn't have agreed to the contract and they are anti-dilution (hopefully still). Part 3 and 4 of the contract were the bits that I found most interesting. NAE (who now only care about their payment) are happy to sit and wait for 40% of their pay off to be made when smelter revenue hits A$50,000,000 and then A$100,000,000. They clearly have confidence in what we are capable of and I don't think they plan on getting their payment in 5 years time and the sums they want payment at are rather large. Pi's can ignore this share for short/medium term gains elsewhere, that's why they don't invest here but that for me this can't last forever, I fully believe I will rewarded big time by my patience and I can also top up when funds are available. All good in my view. I'm sure when the first part of Redmoor finance has been revealed it will be back to the Combre main client. IMHO, ATB

I don't want to put a downer on what might happen when Redmoor goes into production but watching the pod cast again, the machine are autonomous, not only that they have AI built in as well and they learn how much to scoop, which direction to head and where to dig. I expected at least a bloke in the underground hauling truck but that is the same with AI so it would learn to drive itself to the smelter. You can see the truck set off straight away as it knew it was full. I assume the digger just goes into stand by waiting for the next truck to fill. The only time humans would be involved would be during a breakdown of the equipment. The locals are happy because they see extra jobs in the area, as it would have been in the past days of mining, more working men/women, shops needed to feed them and I know what my reaction would be it I found out how the site would operate and my attitude if it provided very little extra employment for the area and trucks leaving site clogging their narrow lanes to boot. There must be jobs created at the top workings of the mine including truck drivers to take product off site. I doubt the locals will have been told how the mine will be operated. I guess it's just the way of the world these days.

I found this part of the RNS interesting. Significant and increasing competition exists for mineral acquisition opportunities throughout the world. As a result of this competition, the Group may be unable to acquire rights to exploit additional revenue generative assets such as Cobre and attractive mining development properties such as CARE, CRL and LCCM on terms it considers acceptable. Accordingly, there can be no assurance that the Group will acquire any interest in additional operations that would yield reserves or result in commercial mining operations. The Group expects to undertake sufficient due diligence where warranted to help ensure opportunities are subjected to proper evaluation. I think this is good for us as opportunities aren't drying up for no reason.
I feel this shows the Bod feel they're capable of funding all current assets and at some point adding more Leigh Creek has a possible 3rd stage in the future. They don't appear interested in drilling potential other targets on our own acreage at the moment and as they've done in the past opted for projects that are near ready to go.
Over a number of pod casts WOLF minerals has been talked about, our Bod know what went wrong and have a board member who know exactly why but from what has been said in pod casts it would take £20m-£30m to put things right so I think it would be out of our league but why has it been mentioned so often.
The US are already stockpiling the metals we're involved in and China has the same plan. That leaves the rest of the world in a bit of bad place. Rio Tinto are into Solg gold/copper but it involves very deep mines which I understand cost $billions to get into production. Maybe a bit of panic going on with the big boys.
I also wonder how local acceptance of the Redmoor project will be knowing it will be virtually fully automated underground.
The company is also looking at potential future off takers for Cobre so they're covering themselves for any event.
Why do people bother with posters like Nickel, he does a few posts per day and lots of people take the bait. Just filter him/her if you don't like what they have to say.
GLA

As I said last night, I've emailed them for an update on HC. I will post it when I get a reply. There is a contact address on the SML web page which you can use to ask them yourselves if you have questions. JP seems a friendly bloke and I'm sure he would take the time to reply.
For me the main 2 points of interest are Cobre and the main client. What happens if they don't resume payment? What if the main client doesn't start their own production again, as in if they went bust would the receiver try to sell what they bought to another party or would we be left with it to sell ourselves. I'm sure our Bod will have gone into the options for both the main client not restarting payment and finding other buyers for the Magnetite. Comparing 2018/2019 sales they have dropped by nearly 60% but JP's last interview he didn't appear concerned by this and we still have income coming in and lots more in our copper production.
Point 2 how quickly will our LCCM tonnage increase over the coming months considering we are expected to produce 100 tns in about 6 months with expectations of producing 200 tns and up to 300 tns which is the off take partners current limit but is subject to discussions on an increase for more..
The more cash we generate the less third party funds/ dilution we will suffer in getting Redmoor into production. There are so many AIM companies out there just drilling holes but we have a company already working on mine design for Redmoor which shows intent to me. IMHO

Fair enough.
I've emailed them to ask the question you wanted an answer to Mutley.
Will post if/when a reply is received.

Hi Envision
As I understand it any buy below the mid line price shows up as a sell and any on or above the mid line price as a buy.

In a podcast from late last year JP states HC is an experiment so will be bottom of the ventures to spend money on. As recently stated Cobre funds LCCM and Redmoor. Then Cobre and LCCM fund Redmooor. That is the strategy as far as they have indicated.

Thanks for your reply RedRoy, appreciated and very informative. JP also said there could be other potential targets in the North Flinders Ranges on our leases so even more possibilities for us, although probably looking to far ahead but it just looks better and better the more I research. Maybe juggernaut's are like buses, you wait ages for one then 2 come along at once. Here's hoping.
ATB

I've watched the podcast twice. JP says Rosman East and Paltridge North are already planned to be operated by us. He then goes on to mention ii's money and what we would do with it, then mentioning Lynda, Mount Coffin and Lorna Doone which we don't currently have plans to operate. Is it me or have I got this wrong? I thought he was saying the ii's would allow us to bring forward plans to bring Lynda, Mount Coffin and Lorna Doone into operation. We would still produce and fully own what we already operate RE, PN and LC, there's no point giving anyone else a slice of the pie when we're 6 month away from producing in these areas, we don't need the funding. He appears even more excited than normal and kept hitting himself. I also read somewhere last year China who produces a large part of the worlds minerals is cutting back on production and not just that, supplying less to the rest of the world and keeping it in country. Maybe the major's are looking ahead and beginning to panic.

Nickel
I don't think you meant to but you hit the nail on the head.
SML is eating into its cash reserves as it "advances its projects", don't all companies. Companies that just keeping the lights on still eat into their cash reserves or have to borrow more money in most AIM cases. We have cash reserves to eat into, we have on going and increasing future revenue.
I'm buying when ever I can, have been here 3 years, sold some and bought back in lower. I don't expect the big return until 2021/2022 as Redmoor will be the project that fills peoples pockets.
IMO

MKWarriors 12.23 yesterday. Yes they were a bed in ISA - mine
Getting as many of these beauties out of the TAX mans hands as possible. Looking forward to the ride. LC may not be in full production until year end but there will be some production before then, Cobre looks good to me as well, Bod well invested, do what they say they will do and 100% ownership of Redmore on top. Don't like the usual touts on shares but long and strong in this one. Just need a few more years to get all my shares in my ISA but think the SP will be a lot higher next TAX year.
16-Apr-1911:13:221.55231,287,576Sell* 1.551.7019.99k
16-Apr-1911:13:011.551,290,388Sell* 1.551.7020.00k

I hope it stays at this price so as I can get as many shares in my ISA as possible, I need a few years to get them all in but think the SP will be far higher by then. For me the SP is always held down as Cobre is always on a permanent roll over each year which I don't think investors like. Once LC is on line things will change, we won't have to rely on anyone else to keep a revenue stream going, we produce on our own, then people will start to believe. I'm just going to keep on buying at these prices. IMO

Hay Brantabernicla
I take everything on BB's with a pinch of salt, the only reason I look at them is to expand my knowledge and I stay away from the bickering that takes place. I do my own research and trust in that for better or worse.
Down again today, guess it's time to let this one sleep for a while until the next RNS.
GLA

Cheers Pokerchips. I'm happy to hold and was pleased with the RNS only to see the result on the SP. Thought I would see a blue day today. Never mind, I've got lots of patience.

Operating costs will go up if you bring in more staff.

Cash in the bank, how many AIM companies can say that. The Company is debt-free with cash of £5,032,087 as at 31 December 2018 (as at 31 December 2017: £1,752,349) +£3.25m better off. Gaining more contracts and extending existing ones.

SP drops over 10%. Makes no sense to me.

I bought more of these this morning which show as a sell but other buys around me are better value. I'm with H&L. Could anyone tell me if you are better off phoning a broker rather than just buying on their system to get more share for your money?

Green Light

DW is in head scratching mode at the moment and SB is sorely missed. As DW has lots of work to do on other project's we have, if he thought IW2 was a bust he would have capped it off (even if only temporary) and moved on. I would like the opinion of any oil tech person on whether the nitrogen injection rate could be reduced further, or would they know they're at the optimal rate? Part of the reason they stopped work last September was "winterized equipment deemed suitable for executing efficient artificial lift of the frac fluid is currently unavailable", is it now in place and could we carry on trying through winter this year? yet again this is going on longer than planned and also it clearly says in the RNS return of frac fluid needs to be "at least 30%", "a projected minimum target of 30% to gain connectivity to the source rock reservoir", so even if we hit 30% we probably will have to remove more before oil shows. I have lots of patience but another lock in fills me with dread.