Member Info for nb_riley

I feel thew board have to now react and put out some strong news to the lift the share price. Stuck in the same trading range for so long and all the progression prior to the last month has been completely undone due to cobre and a poor fund raise in my opinion. Really hoping BOD deliver on their beliefs.

Overall I'm still very much confident in this company and JPs ability they have skin in the game and if they can deliver big LC gains then the share price will reflect that - come on JP

I don't agree with you spike in saying that john didn't want people selling the shares . As even though they might have sold the shares i believe that he has enough interest from current shareholders to raise at a far better price then he got, especially considering the sum he raised, and if he wouldn't have been able to get a better price then 1.4 p , i would be worried.

I feel the board really do need to get LC into full production buy the end of this year whereas it was mentioned that it would be in the first quarter of 2020 in the fundraiser RNS.

Leigh creek into full production...

Not deramping but who is going to provide the necessary funding of 89 m dollars for Redmoor. I understand that when it comes into production that we wont hold as much as we do now and therefore wont have to cover all costs. But 89m is a very large sum and would require a large company to contribute.

I also want to note that the main customer is still very important. Many people are saying that if we lose them we can just get another when it isn't that easy. It is hard to get customers willing to take large amounts of magnetite and so it wouldn't be a quick process and so far better to keep the main customer.

I think the board will be very happy with the share price movement today as they were able to offset some not so good news with very good news. Well done to BOD

By building a good company with a very strong balance sheet. We need to get Leigh creek fully into production and get the main client to resume deliveries at Cobre, by doing this are profit will be hugely dis - proportionate in comparison to the market cap and so the share price will have to rise to gain a fair evaluation. We aren't like other AIM companies where we can simply rise on rumours. We are building a good company involving a solid investor base where true value should shine through eventually.

Why not tomorrow?

I think it’s important to note a few months ago when John Peters has mentioned the potenital need for funding. This caused a drop in the share price but this was just John being as honest and transparent as possible. Then forward to later where he released the update on cash balances and Cobre sales which was a major surprise to the market as they had actually increased even with all the exploration will had undertaken in a very busy period. The board are strong and them mentioning the potential for dilution shouldn’t be taking literally as we are not like other standard AIM companies IMO.

Wouldn't want to be out of this over the weekend...

more good news...

Don’t think it’s fair to give a P/E ratio of 10 for an AIM company when most companies trade at premium due to the potenital for growth , even though sml is a bit dofffetent from the standard AIM company a P/E ratio of 10 is low for any company should be closer to 20 and so a far higher price for sml in the future.

Tried that before and only really gives a boost for about an hour and then people sell into the rise. This company only ever really produces good news but may take some big news on Cobre client to shift the share price

Great analysis Cornishknocker, appreciate your work. Have you allowed for an interest charge on the 150 million set up costs. Assuming we would have to borrow this money as it may be difficult to raise in pure equity. Also do you have an exit value of the project after a certain number of years?

The whole board together have around 7%

Wouldn't want to be out of this over the weekend!

large buy just gone through...

As frustrating as today is, the thing that is gonna get the share price moving is through getting Leigh creek into production and delivering strong numbers so that the market and MM's cant do anything but raise the price. It is extremely rare to see an AIM company with the P/E ratio like ours... imagine what it could be like with Leigh creek in production.