Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Dont forget the BoDs ran a exploring company not a producing company. Their skills were not in the later, they should have replaced someone with more experience in production.
No urgency in anything they appear to do, they over promise/commit. Any strategy relies on luck.
Imagine setting targets of 5-10p when during the timescale window the SP drops to less than 0.5p, in most companies people would be sacked for either mismanagement or just to bring in new skills.
Imagine the roasting he will get if nothing has turned around by the time the AGM happens.
Trim some fat and start saving cash i say, just because SML have SMG doesnt mean they can squander £$£$
Make some hard choices to improve SMLs position.
I dont think it is possible to lay claim to a deposit from an unfulfilled contract unless its more than the outstanding and even then it would only be the residual, otherwise there is little point in deposits, its these types in instances why they are used.
One could argue that its not about money but about magnetite.
I dont see a deposit/security for a contract that was not complete being able to be claimed by a receiver or whom paid it, otherwise it would null the reason for a deposit in most cases.
I would offer a more accurate definition on "shortly"
Whatever the board say then double the number of days they state, add 3 months, round to the nearest year and then just ignore and keep waiting.
Sorry JP, but even one of your supporters is wearing thin on patience
I wish you would get it right.
Care got mothballed as there was no significant finds in the unsold tenements with the limited exploration/drilling undertaken and was written off to help with the tax bill at that time.
LCCM was bought 4 yrs ago (WTF) and had previously been "mothballed" a while prior to that due to the previous company/ies not making it work yet assay results are significant and since then copper price has flown up and should continue.
New mexico (Cobre) is profitable but due to the extensive wage bill for the execs supposedly running other projects it seem to not meet the total costs.
Redmoor could be huge but its gonna take money, work and time.
Brendagate wouldnt have been so bad if her chqs hadnt been counted on and seen as a bonus, it my reap something but who knows.
The bottom line is SML need to cut costs one way or another and the BoDs need to concentrate on SML or not get paid whilst they undertake other activities.
Ok hurtsy, I will spell out my last comment so you can understand it.
SML had a tax bill, SML had limited available cash, SML could offset the recent costs of exploration at CARE if they wrote off the venture. SML wrote off CARE and reduced their tax bill by claiming the costs against any revenue.
So yes i do know, the difference is I actually understand the practice.
Granted I am not sure how CARE could in theory be picked up again, i would assume 2 things,
A certain amount of time would need to pass
Possibly the offset tax would need to be repaid
In my mind its very likely some of those tenements would be mineral rich, some were sold off as they contained a reasonable amount of gold.