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Valuation, SML would never need £200 million-plus for processing facilities - the previous MRE (2020) declared it well below £100 million; and, now, with the latest results - still seven more incoming between now and early Q1 - the grades are better and bigger, as well as polymetallic; if you add for inflation, say, 30% to the 2020 build-cost, then it’s not much over £100 million - and payback for the cost is about one year - pretty spectacular, in my opinion.

Thanks.

Bluegrass, Who are you referring to?

I envy those who have had the funds to hoover up the bargain-prices over the Black Friday and Cyber Monday sales.😩

Hi Valuation, I don’t think you’re wrong; however, Mark Burnett comes across as a rational optimist, leading me to believe that he would not casually throw a statement such as Redmoor’s description as a tier-1 resource without comprehending its meaning - and its ramifications post-publicising it. Of course, it would still need to be formalised and approved via, and in, the usual official mining-related processes to comply with industry-standards - but it’s nonetheless a confident indicator of the direction of where Redmoor’s headed.

Yep, Mark Burnett’s stated Redmoor’s a tier-1 resource - https://discoveryalert.com.au/mineral-deposit-tiers-guide-2025/

Https://x.com/robert_ivanhoe/status/1996301458426228907?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

Https://www.mining.com/tin-market-deficit-to-tighten-report/

May thought on Tun west has always been a merger or partnership for economies of scale - it’s worth nothing that SML’s Mark Burnett mentioned that that they have conversations with Tun West.

HMG will make a decision only after the EU, US, and China have made the decision for them - I’m quite happy for the Chinese to buy SML for a minimum of 10p - even if it means the UK govt is left scrambling for those metals from other countries, in which it ironically would invest more than it would in the UK.

Tun West is a low-grade tungsten outfit - grade is king.

Valuation, That completely misled me - I thought it would be an insightful interview with a tungsten expert - LOL.

UK govt’s modus operandi: ‘We’ll keep an eye on how it goes, then we’ll be the last ones - as usual - to react rather than endeavour to be brave by leading with ideas in the fast-moving critical-minerals’ space.’

https://www.mining.com/web/uk-has-no-immediate-plans-for-critical-minerals-price-floor-minister-says/

Share-price drop entirely attributable to the lead-up to Black Friday, finished off with a final reduction in today’s Cyber Monday sales.

Jaffjoon, No problem, at all - trying to keep up spirits after this offensive share-price drop.

Https://resourcingtomorrow.com/news/industry/cornwall-on-the-cusp-of-major-rebirth?utm_campaign=4117830-Resourcing%20Tomorrow%202025&utm_content=359785651&utm_medium=social&utm_source=linkedin&hss_channel=lcp-92463158

Https://resourcingtomorrow.com/news/industry/cornwall-on-the-cusp-of-major-rebirth?utm_campaign=4117830-Resourcing%20Tomorrow%202025&utm_content=359785651&utm_medium=social&utm_source=linkedin&hss_channel=lcp-92463158

Https://www.lse.co.uk/rns/MARU.PL/independent-report-on-tonto-tshipi-0tz177jab87pqn2.html

Https://www.mining.com/web/us-moves-to-deepen-critical-minerals-supply-chain-in-ai-race-with-china/

Https://www.mining.com/web/us-moves-to-deepen-critical-minerals-supply-chain-in-ai-race-with-china/