Member Info for mkwarriors

Well you've got quite a longer wait if your negativity on lccm turns out to be correct

Fira give it a rest, it seems like you take great pleasure in trying to make people feel bad.
Yes lccm hasn't come on line as quick as we would have liked but the plant does work and prior to the copper price slump of recent years produced 425t of copper cement. Sml have this year proven that it can still produce a very high quality product by selling its first 5tons of product to our customer. Now yes I agree its frustrating that we are now waiting to get permits to mine Rosmsn east ( as this copper wasn't in the original jorc ) rather than relocating the plant to the area that we do currently have permits for, but if that's what they think is best then who am I to argue otherwise..... I'm not a qualified mining engineer are you? All I can do is decide with my best judgement if i believe this company will come good and decide whether to sell or not........ I suggest you do the same as it's not good for your sanity if you dont believe in what you are invested in.

Doing so well this week and then knocked down again

https://www.kitco.com/news/2019-10-22/Gold-s-rally-is-over-Copper-to-be-the-star-of-2020-says-Capital-Economics.html#.Xei7BaxkNp0.twitter

Looking like the general consensus is to jog on, we understand the negative views,but with you it seems to be whatever suits your mood.
And no I cant see your recent posts as your filtered

Must give you 100% for becoming a highly rated poster to very low imo

I'm glad I've got my filter on

Bloody hell fira are you long or short? We are all not happy but it is what it is, they have made a decision to change plan in what we can only hope a better direction. If you are long then a change of posting is needed

Why is lse putting stars in place of my link

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where stars are

A must listen! Most questions have been answered
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https://drive.google.com/file/d/1HVbCZRrmBqi9v54xbDxtCO7_cbYtLdiY/view

More in depth lccm study

Used A$ instead of us$ to convert the £248k
Should be 968k + 319k + 319k = US$1,606,000 less anything spent since june

In June 2019, the Company undertook an equity fundraising that saw it issue 63,571,425 shares at 1.40 pence per share and netting US$1,059,000. Only US$91,000 of this amount was received prior to 30 June 2019 with the balance, US$968,000, received post 30 June 2019.

· Unrestricted cash and cash equivalents at 30 June 2019 were US$319,000 (31 Dec 2018: US$1,988,000). The reduction in cash balances reflects the lower than expected cash flows from Cobre and the cost of re-commencing operations at Leigh Creek

So cash is A$968,000 + A$319,000 + A$468,000 (£248k) = A$1,755,000 less any thing spent since june 30th + cobre

Thanks for the reply redroy, this is from the July rns which seems to imply we are only paying a total of A$3m ........
SML has settled the acquisition of NAE's 50% holding in CRL on the basis that, in lieu of the original structured cash components, SML made an initial A$290,000 payment, taking total cash paid to A$300,000 and agreeing an 11 month payment schedule for the balance of A$2,700,000

You receive an rns stating receipt of £248k and then comes a flurry of trades showing as sells. Go figure

Didn't the equity raise money get received after the interim results so will not show till full year

How much did we end up agreeing to pay nae? May rns says a$5m but July rns says updated payment structure, A$300k paid with balance of A$2,700,000 by june 2020. If this money today is used for nae early payment, based on the july rns we now only owe ££1.1m. Or am I missing something?

Exactly, there is the next nae payment

Exactly slurm, wouldn't it be sensible for them to strike a deal to help us with the initial required costs involved. They know we can produce a high quality product containing 70% cu compared to the typical 34% product, they already have a deal to take all we can produce, want more and the bonus is we are in a safe country just down the road from them in ausi terms. Seems to be a no brainer imo

Adchem (lccm off take customer ) currently purchasing Cu cement from Korea (estimated to be A$20 million per annum). Can see a deal being done with them to get us into production so they can purchase copper cement locally.