Member Info for Slurm

I think LC is being looked at for only the value yet it will provide so much more than just £££. The potential to learn and apply the learnings on Redmoor are huge. So even if SML only make 20% profit there is so much more value in bringing this mine online. There is no rush, there is more than enough in the bank to cover current commitments and more still coming in. GL all

lets have a little recap on SML Have Cobre operation which will make a minimum of $4mil profit this year - magnetite removal operation 23x 100% owned Tenements in western Australia operated under CARE, rare earth, strategic metals and precious metals - some of the tenements(or groups of tenements) are known as Hanns Camp, Mt Weld, Mt Margaret 50% of Cornish mine - Redmoor - large Nickel and Tin deposits, some copper Will be completing on LCCM mine, 24k tonnes of copper very shortly. Good cash reserves and it continues to come in and this pays for the drilling programs and getting LCCM to production. Granted the SP has drifted down a little of late, but still cant see the negatives to holding this share. A Q1 update should be out shortly on Cobre. DYOR and GL all

08:58 is a bed and isa before anyone thinks its a double sell

imagine that someone on this board saying the same thing they have already said.......

Hadn't used my isa allowance- stupid Samsung phone....

I nearly choked on my lunch with your comment TB. Made me laugh. I wish I tend used my isa allowance

Agreed. Let's just hope whatever our thoughts are that in a number of months lccm is another viable revenue stream. Or the CARE tenements strike strong.... GL all

Being given something and an interest free loan for said something is still not a freebie. It still costs just offset....a freebie is something given for free with NO conditions... There are many possible reasons why it was sold by them. I have never denied anything about SML but simply stated patience is required....bringing up the same not good deal or over paid or market doesn't like lccm(not my thoughts) doesn't really achieve much...we are where we are. I personally think the options given were way too generous I stated it once or twice and moved on. Give the BODs space and I am quite confident this will be just like Cobre where a few worrying investors managed to consistently raise the likelihood of no renewal or reduced terms.

You cannot call something a freebie when it's a conditional sale requiring x% on sale of the output. Add to that the money spent on readying the site and its ok. Granted due to the drop in SP we likely paid 25% more than we would of liked. That doesn't really matter if we bring it online and make money. In relative terms it's such a small % dilution especially compared to the companies senior team options set last October. I am not wholly sure what is the cause but I would not put it down to just market not liking lccm. I think the current wave of pessimism from many posters has not helped. I am not saying it's anyone in particular or if it is founded or not, but just that negativity breeds and will put off any newcomers looking for their next trade. Let's hope it's stays around here until 6th where it then recovers to it's happy 2p base before moving on and up. I'm sticking put. GL all.

Just to note there are still other tenements that care have the rights to, so not all in play now there are still more to explore later...

Mount weld drilling....mmmmm

I would rather this one hadn't come....

I do think this update was and update due to it being promised rather than an update to provide an update. They do deliver the updates as promised but

I think when sing became the 6th MM for SML they were at around 3.2p meaning a lot closer to �50mil, no more than that

Totally agree about the negativity...the negativity for LC was the same people that said Cobre would not renew or the terms would be changed detrimentally at best... I have stated time and again patience is all that's needed, that and maybe a little faith rather than second guessing everything the mining professionals (bods) do. Some people's money would be better off without them sometimes.... GL all

Does that include the 5.3g of gold per tonne according to the nae presentation?....

that's not insignificant either.....

LC is of little concern to my holding, if it does become a good revenue stream then that's great, but if in the unlikely (my belief) event it doesn't work out then I'm sure SML will move on. Business at times demands risk and that is why you undertake due diligence. What is the risk? 3.4% dilution, $1.7mil AUS and bit of time and effort....doesn't concern my holding.... JP and others may be mystified about the SP, I know of CEO's of huge companies that find the SP of their companies frustrating, but I am very confident in the abilities of JP/PW/AB when it comes to mining I'm sure if they think they can turn LC into a revenue stream them that's good enough for me.... I don't need answers straight away like some others....happy to let this run its course, there is little loss imo at the worst. I am also way more confident of Cobre continuing for a number of years, Redmoor being a world class mine and the CARE tenements providing than when I first invested. Why focus on the downsides, when their is so much upside?

Might just have to use my new ISA allowance if it's still here in 2 weeks time..... No worries at all. Good time to top up in my opinion, like others have said nothings changed. Patience...

Patience is key....I have no worries waiting for the next rerate and even then will likely stay LTH FTW