Member Info for Shedulike

One thing we can thank LR for is that he has always prudently modelled the economics of Toral against challenging markets. I have always found the Shares Magazine presentation from 2018 interesting. It's worth a watch and you'll hear how he stresses that the project has to be viable against tough markets not just when zinc was flying (particularly from 11:40). Also interesting that even way back then he talks about the pointlessness of 'drilling, drilling and drilling', all about the economics. Tough audience for the gags though, really felt for him :)

Oil I wouldn't advocate salary cuts to push them into the realms of hardship. The Non-Exec's are traditionally supposed to push the shareholder's case in these sort of situations but small AIM companies being so intimate that is rarely the case. I suspect like myself being a Ltd company they would have to furlough themselves to get any government support as individuals and we wouldn't want that as there is desk work that can be undertaken during the crisis. I would advocate paying them a living wage with any accumulated deficit paid on achieving a successful outcome. Not holding my breath though!

Nige - I agree it would make sense that surely they won't run it into ground. I just want to see evidence of the cost cutting rather than vague statements. Unfortunately AIM is awash with companies whose Directors have looked after themselves before their duties to shareholders. I'm certain that we can't pay these guys at the current rates into Q3 so want it RNS'd that wages have been moderated, I'm definitely not happy to sit around hoping they'll do the right thing.

I'm happy to admit that you called it right that there would be a delay, I was wrong it turns out. However the facts I put you right on were correct last week - that WA had confirmed to me that they were operating normally and that Spain is continuing to operate where business can be conducted safely in uncrowded situations. My angry reaction to you last week was because of the jibe that suggested I didn't think CV had reached Cornwall and that it was inappropiate to suggest that a drilling team could safely operate on a remote hillside. I don't take that back and as ever your point scoring goes too far.

Manicman that is an admirable sentiment but I won't apologise for being concerned about my investment. We cannot continue paying the Exec salaries indefinitely, if they run out of cash and can't pay the bills, listing fees etc we're done. Unless they cut everything back immediately there will be no company, the asset is only ours as a solvent company - the mine could go is the bitter truth.

While my first reaction was cynical, after all I contacted WA last week and they confirmed that they were operating as normal, CV matters have escalated since. I think we have to accept that there is no way that WA would take lightly to being included in an RNS that was concocting a convenient delay. I think details of cost-cutting measures are required urgently.

....... very much in the 'boring' bracket that LR often bangs on about, but critical to getting a mining licence. There's a bit on tailings in the Oct 9th presentation. Interesting to see how much of the work talked about in that has now been ticked off in less than six months. Plus anyone new watching that don't forget we now have much more resource and some in the indicated category.

Interesting that Brikz spotted that LR ticked up a mining / cement manufacturing post on LinkedIn. Who knew that the Toral cement works could take our waste limestone? I don't know if that's a potential revenue stream or just a big help with tailings management but it's little synergies like that that make our project so viable. GLA genuine posters.

Bit strange as they were 'imminent' on the 11th March. Give them the benefit of the doubt I suppose, maybe everything is taking longer to get signed off with no companies operating normally. Need to hear the plan on cost reductions as well, might be a bit more inertia on that one :) I won't be happy if they drag that into April and then we hear something along the lines of "From May the Director's will accept reduced salaries of.....". EUZ your shareholders are watching!

Maybe it won't be such a bad time to release our metallurgy. I notice silver is running ahead of gold for once (though it was harder hit in the first place). Not sure if there are any silver components in these Coronavirus kits or associated apparatus but silver does have medical applications. Tomorrow does seem likely, just hope our crisis strategy allows the mets to be showcased without funding uncertainty dragging us down. Full Exec salaries as inappropriate as mass participation games of Twister at the moment.

I think a lot of people will have earmarked tomorrow for the 2nd phase mets. I really hope they come with an additional RNS with the detailed cost reductions and onward plan or I think however much they move on the de-risking process we won't hold any rise in the current climate unfortunately. Better week for silver though.

Yes I think when it's 75% of the company it has to have shareholder approval under AIM rules. Toral is all of the company apart from the stash of those rather natty EUZ fleeces that Luis and Jésus always wear in the pictures. If we do get out of this in profit I want to order one.

Thanks P - right what now, mets this week probably? I think we can expect.....
- A modest improvement on zinc recoveries, not expecting anything spectacular though happy to be proved wrong.
- The deleterious elements - there will be some so don't panic. We are analogous to Rubiales so likely to be low levels of Cadmium, hopefully no smelter penalties though.
- By-products - bit of a mystery this one and I haven't got far with enquiries.
- The great copper mystery have we unlocked it?
- News on the precise purpose of third phase mets - more on 'spacial representivity' which seems to be about proving that the mine won't underperform, more de-risking really - developing the process flowsheet and improving the economics even more.
- Also will 3rd phase mets look into the copper at last?
- Finally the grim stuff - the market needs to know that the team can operate the company until markets stabilise. I would hope for a suspension of Exec only salaries perhaps with reparations paid when financing or sale is sorted. I strongly believe (with good 2nd phase mets) they could virtually give this mine away and get most out in profit. That would be a great pity as we are worth so much more so everything has to be done to give us time, come on LR shareholders interests first please!

Yeah I agree with the hindsight comment Teaye but these people put themselves up there with great claims to be the best so deserve the severest scrutiny. Unfortunately we have a buffoon pretending to be a statesman, not great. Silver up 10% though :)

I think Coronavirus is relevant to everything now so I'll say what I want. Johnson was always a bad joke that has just gone even more sour - there will be a full enquiry after this and it won't be a comfortable experience for Johnson or particularly Cummings. Even as it was raging in China and taking hold in Italy he was still using the bluster tactics that seem to have got him through the Jennifer Acuri scandal. There are witnesses to the comments outlined in the Sunday Times which I won't repeat on here because they might be distressing to older people. One little glimpse of sunshine is that silver is recovering slightly today.

Bit off topic and this might divide the board somewhat but I think the UK is paying heavily for voting in a joke PM. We had an eternity to study the science with evidence from the Far East but it is now leaking that early policies were dreamt up by Dominic Cummings. I hope if nothing else comes of this that there is no place for snakes like him in politics whose remit has nothing to do with the good of the country but to market a political party. B Johnson has zero credibility, look at their refusal to help the self-employed, we're a massive part of the economy and many sole trading individuals have to make ends meet. Absolutely wonderful to hear Rowan Williams making the point on Newsnight that he is priviliged, employed and paid before commenting unlike all these F'in celebs saying stay at home when they have no financial pressure. See Stephen Fry talking about relieving anxiety, easy if you're loaded - another wise comment from Rowan Williams, 'there has to be justice for all' at times like this.

Okay where to start? Let's do it one at a time. Overhyped?? Amongst the least rampy Directors on AIM. World economy? Most economists are predicting a short sharp shock to economies with stimulus driven recoveries, still huge challenges I admit and much uncertainty. Not sold? because until the deleterious elements are ticked off we're not completely de-risked, yes we're carrying the risk for someone else. Worst investment for you in 2020? Hmmm not sure how you managed to sell around 0.3 in 2020, banana skin on that one - someone's off their rocker.

Promising signs in Germany Oil, but without saying the obvious, they are traditionally more likely to be obedient to authority. I'm very optimistic that they'll have learnt lessons and the fiscal stimulus won't disappear into the banks again across Europe, partly because it isn't a banking led crisis but last time round it just led to endless near flat growth. It will be infrastructure and direct investment this time and that's where the supportive local jurisdiction will become increasingly significant. Mines are built on long term projections of metal prices not short term spikes up or down.

If anyone can bear more gallows humour I remember on the 11th March Laurence saying that the mets were 'imminent' and now today they're expected 'shortly', metaphysically at least are they becoming more distant? Think that makes sense though having serious doubts now :)

While I would rather it was soaring, the upside for me in the current situation is the chance to bring my ISA average down to more in line with my trading account, new ISA year soon. I'm not risking more cash in the current climate but am planning to switch a small punt I had in one of the pharmas. Timing that is going to be difficult but I'm aiming for the new ISA year.