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i do wonder that if SML cant get LCCM off the ground whats the point in holding Redmoor, its like Tesco's land policy of the 90's which was buy up land so no one else can develop it with no intention of developing it yourself.
It is getting a bit rediculous right now, why are they not cutting costs if they cant make more profit, its a simple equation either make more money or reduce costs, I dont understand why nothing has happened here.
Either there is a big piece of news coming, or the board need a huge kick up backside.
I have previously not been a fan of the share holders getting together, but we "only" need to get around 10% of holders to be taken seriously.
in all my trading history I have never seen such quietness from the board during such a low SP from a company that had such high regard and good profit.
Talking about dilution is the complete opposite to ramping.
As i said a bit down, nothing new here.
Im sure JP is well aware that he either needs to reduce costs or make some progress on LCCM.
The only thing which I find a bit odd but that i already knew about was the 20% rise in the sale of the magnetite price, I am surprised this has been done at a fixed price in the past.
Was any of the info in the RNS new to people? no, we knew sales would be slight down, we know costs for everything are up, anything new is in flux and will be RNS'd if worthy.
MM's playing the profit game here IMO
Lithium does have quite a few years left if there is no disruption, but if lithium supply is disrupted, then alternatives will be driven through, whether thats metal fuel cells or alternative material batteries we will find out.
Nyobolt has created a new battery that requires Tungsten, whilst it aims to start to produce over 1 million batteries over the next year, it will later move into car batteries, and is going to set up a materials manufacturing plant in the UK.
Nyobolt just raised £50mil investment.
An exciting further use for Tungsten and their batteries can charge to 90% in 5mins and have a longer life so if this takes off, tungsten will be very sort after.
with £5m a year why would it only go to 0.5s?
Usually the value is 4-5yrs profit minimum if it a relevant (ie not a one off)
So its an easy over £20mil MC, add cobre a few more mil and we would be a little closer to a true MC
So how do you know whats over borrowing?
SML needs trucks, excavator/s, loader/s, pumps, chemicals, fuel for first 4 items in my list for 6 months minimum, wages and then other cash for cap ex and op ex costs. Add to that £1.5mil in reclamation bond.
Some of those items are significant big ticket items, and fuel is as high as its ever been.......
I dont really understand what your point is, but i dont see whats been removed whether abusive or not.
What I will say is I dont think this is the best place to constantly be negative about SML, if your in SML its a bit like self harming and if your not in jog on (not aimed at anyone in particular).
Might be a better approach to email JP/SML than bring up the same negative past on SML, Bonus payments, very slow LC progress.....etc.......
Yes im down, possibly more than most, but no one forced me to invest.