focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
agreed. at this price point its an aim diamond. i get it if you bought you've had a rough ride.
But im in at the 0.4s and at this price you get a lot of value for what your are paying.
I added a small slither this morning and am very pleased. The comments on leigh creek are excellent, it sounds like they plan a bigger mine due to higher copper prices this ties in with some other posters reaserch of granting of an expo license so I guess a bigger project This is so heavily levarged to the upside at these prices im happy to hold and wait till H2 FY22
Absolute legs on this breakout - anyone see much resistance up to 18? I dont
Im pretty sure that's exactly what Tungsten west wants to do. Obvisuly for a wash of the face. Tungsten west seems to me critical. If they get into production then the read across here is clearly immediate and upwards
These are great results that show the prospectively of our Cornwall holdings. The board have to be given credit for managing to do this on the cheap too with that grant from local Cornish government; In my mind though we need the IPO of Tungsten West underwritten by VSA to really go off and stick a pin in the area for Cornish mining, If that goes well and we start seeing cashflows quickly from Tungsten West then SML's Cornish holdings look much more attractive short term. Currently they look years away from production. Tungsten West were eyeing £100m market cap, they already have a mine and a production facility but clearly the appetite for mining in Britain in returning.
I totally disagree with the majority of this BB and thing that the directors have done very well to do most of this on a shoe string. My primary concern is Leigh creek, its new term production or at least approval is why I invested as the upside on the project compared to the current share price was just/ and is just to large to ignore. However, we are now at the end of September and the board have given poor direction to shareholders to expect an update in Augusts and its now the end of September. Clearly it has not been as straight forward as hoped (although nothing ever is) and I am happy to hold on the basis that combre pays (and underpins the current sp) and leaves us with essentially free options on (1) Leigh creek (2) Arbitration claim (3) Redmoor all of which can easily add multiples to the current share price. So a mixed bag for me but happy to hold and depedning on leigh creek possible add
giddy up
Hi All lost track of this a bit but can someone tell me what we were expecting to hear from and how late it is?
And does anyone have any further exceptionalness on news flow I noticed a PI was meeting mgmt. to discuss red moor on twitter which surely must indicate some news flow . This company is so astonishingly cheap I cant not hold it but then it goes and give crap forwarded guidance which is totally unnecessary
Id have thought production this year is astonishingly unlikely - that doesn't preclude there being significant risk-based reward here. This business at its current price with the cashflow from Magentie is essentially an option on the copper market (Leigh Creek) with an exercise value of £0 - the cash at risk being the current spread
Not entirely sure why the negativity if you are a new purchaser of the stock here. This is a binary bet with a very limited downside and very large upside in the near future. Ill be looking to pick up more around here after RDSB goes ex divi. Pleased to see the board have gone for debt funding, clearly expecting future cashflows to fund leigh creek. Also I noticed the quartz tweet re cornwall. Lets not speculate but lets speculate that we have gold!
Little bit of action quietly going on here.... Snagged a few last week
Finance is cheap at the moment but prices everywhere are rising in primary products. Itd 5mill sterling they will def be able to raise this. Clearly there is a reluctance on equity but I would expect a debt discussion to be pretty hard without the approval
Is that gross cashflow on sales? and in AUD? Cant get anywhere near 940,000 on USD and net cash . I note of the -2m upfront capital almost a mill was earmarked for the PEER - so spent already. So if they can get the $AUD 10m for Leigh this wall all be spent on capex for Lynda/Lorna
I couldn't help my elf this morning and so tried to make a high level NPV for Leigh Creek based of the project finance details in the 9 November 2020 RNS. Flat iing the income from Paltridge North I'm working out a cashflow after Paltridge opex of about 3.1m a year. If they manage to accelerate the cashflow so 65% of the copper falls into the 1st18 months net cashflows are in the region of 5-8mill in year 1 and year 2 . No idea who to but happy to share workings if someone knows how share a link. Anyway 3m USD cashflow is pretty strong at todays FX rate that's a price to cashflow of 3.65. i,e cash from the Paltridge north projects pays for the market cap in 3.65 years....
Clear con is that there is clearly a complex strategy of utilising cashflows from one project to develop the other - im not a stupid guy and it took me about 4 hours to work out what they are doing. I still, don't fully understand what the operation in Cobre is actually doing . I'd be bit worried about this but the board are clearly transparent. This looks to be a clear buy and basically a binary bet with almost zero downside with profits paying for current opex and lots of upside on Leigh creek. Not interested in Conrwall enough on in Australia i think to support a speculative buy here with a near term catalyst