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With that amount of money clear they won’t need to do another raise any time soon . Good update , shows things are progressing even if LC is taking longer than originally expected, financing for that type of project always takes time .

I’m very happy with the BOD . Fantastic progress resulting in an unbelievable MRE . They can’t control the SP but the key thing to give comfort is the market cap . This is way undervalued and will correct . Good luck to those who sell and make a a good profit , if you believe in in the project a bit of patience will be rewarded . IMHO

You may be right but I don’t agree . I’d be very surprised if it isn’t 1 investor and as speculated previously it is Coffey . I’d expect a TR-1 today or Monday . I hope I’m right as he has very big backing behind him .

My view is a lot of PI’s taking profit due to large rise over last month keeping the SP down but I believe patience will pay off for those who are bought in to the story . This will get onto the institutions radar and also investors with deep pockets over the coming weeks .

The MRE will show how much metal there is in the ground , how concentrated it is and how recoverable it is . We can then all compare that with GMET and TUN to see what the market cap should be . Also need to bear in mind we have other income and assets . I’m confident SML will stand up well against the comparison. DYOR

At last

Based on previous takes a few days to incorporate new shares so expect a TR1 some time next week .

Think we will get an RNS on recovery rates and possibly LC before the MRE so expect MRE w/c 23rd or 30th .

Remember these guys only pay themselves a very small salary unlike the previous BOD and have taken the SP from 0.15p to where it is today . They deserve this and we need them to continue focussing on shareholder value !

I’d be very happy if we consolidate around the 1.6-1.7 point , drift up slightly on next drill results and re rate on the new MRE and completion of LCCM sale . Those with patience will be well rewarded IMHO

Need the new Material Resource estimate due within next 2 months , if this is in line with the drilling results and latest metal prices I’d expect a significant increase in the fair value .

With money in the bank much easier to look for matched funding from the government.

Getting to PFS with no debt in the company would be a fantastic achievement. Guardian metal is at that stage with lower grades than we have and is valued at £250m v our £30m . Mark Burnett involved in both companies so assume following the same path .

1. Next drill results overdue

2. Further drill results from the rest of the holes

3. Sale completion or not of LCCM

4. The big one - new MRE due by end Q1

Next news due IMO so tomorrow or Thursday .

Sale not essential as valued at zero on the books . Injection of cash from a sale would be great and would speed up progress at Redmoor . However as stated by the BOD numerous times profit from Cobre is sufficient to keep things going through 2026 and no placing required . I would expect an RNS though either later today or Monday .

My limited understanding for the mining industry as a rule of thumb is the market cap at the inferred stage should be around 1% of the inferred value of the deposit moving up as drilling improves understanding . This moves to ~ 5% at the indicated stage . So we are probably about right for where we are now excluding Cobre and LCCM which make a big difference , the key is to keep drilling to get to the indicated stage . Anyone got a better explanation ? Obviously what someone was willing to buy it for is based on how much they want it . IMO though shows it’s a good time to be in here and a bit of patience will pay off .

Two key conferences on mining and critical minerals next week - investors , government , mining companies all attending so sure we will be sharing the potential of Redmoor and looking for some commitment.

I’m still confident we have everything we need to be very successful at SML . Hoping we’ve bottomed out and added 2m this morning.

I have a suspicion whoever exercised those 20m warrants is selling them off for a quick profit . Hopefully they are nearly through them .