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Very good update. One way or another the mining volumes will ramp up in the coming weeks to commercial production.
The grades of ore processed are now very high which combined with record high gold prices will see the company back on track. Also good to hear the other mine is performing well
As per the interview it's very important the company conserves cash now and reduces the running costs to a bare minimum. It's an investing company so it can be run on a shoestring.
If the investment rationale proves correct then there's a big opportunity from the current levels.
The liberation labs investment could be worth considerable more than the current market cap on its own
I think the slide is because people can see the cash won't last very long, as the company will want to participate in the funding rounds of companies it is invested in and avoid its stakes being diluted, and is worried about another fundraise. That's why I have been concerned about the large amounts paid to Shellbay. I think the rewards to Mellon and the other directors and employees should have been structured differently in order to preserve cash.
I think a lot of people are put off investing due to the consultancy agreement with Shellbay which results in a large regular cash outflow and dilution. The directors were clever enough to base the performance fees on Net Asset Value rather than the share price. I think this agreement needs to be amended to preserve cash and then new investors might be attracted to invest in the company
The lower the share price the more shares the Aussies get.
They will very likely sell them as quickly as they can. They only paid £28k so it's a good profit for them, especially when the licence is most likely worthless and at best just like buying a lottery ticket
I think we could be in for a decent recovery in the share price as other companies are starting to move higher from oversold levels. It would be a good time for SML to release some positive news, especially on Leigh Creek given the big rise in the copper price
RNS not showing here but Connie bought more shares in the open market
https://www.londonstockexchange.com/news-article/MYX/director-dealing/16410832