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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.
Agreed, SML need to trim some costs and he should be at the top of the list. SML should be reducing costs and building up a fund.
As I own a good amount of shares I think its only right we should be given sight of their Job descriptions and what each of the execs/board are currently undertaking and what they have delivered over the last 2 years.
I dont read every post but like i said this shows movement and its positive....why feel the need to continue the negative diatribe....
on the few days the sun comes out, enjoy it, dont continue to moan about how the weather is always bad
Prop, agreed, why are the usual negative posters spoiling the good news, not only does this provide an SP rising asset now but also shows the the BoD's have been and are still working on things.
FFS its like a primary school here at times.