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£300 million cost to a buyer when a billion is expected overall would be reasonable with mining, processing and political risk costs.

8p to 12p would be an MCap of £200 million to £300 million. With a valuation over a billon that would be sensible Rob.

We can't expect the full valuation. Any buyer would be looking at mining and processing costs and profit margin. They will be looking at political risk as well, it is in Russia. We may only get less than half the valuation. That would still be several times higher than the current SP.

Dangerous with EUA. 1p currently is around £24.8 million. That's a tiny fraction of the asset value.

Take a look at EUA. Palladium.

Woodford is showing even the managed funds aren't safe. With low bank interest rates and untrustworthy managed funds more people are investing directly in companies like SML.

The asset is there. They just need a large company, like Glencore, to be able to buy it.

That would equate to an SP of over 12p.

Looks like the asset value is in excess of £100 million. So undervalued at an SP of 1p.

Actual spread is quite narrow. That should increase trading. But this share has stalled with confidence lacking.

JB has said the seismic is not going to be revealed publicly. It's sensitive information and can not be revealed. The actions taken because of the seismic data will be revealed.

God knows Prop. I'm probably not the right person to ask. Clearly I'm useless at this game. It's clearly at rock bottom and also waiting for news.

Prop, Stop being so pedantic. It was just a figure of speech. JP always came across as confident and bubbly.

Prop, We haven't forgotten. The market has.

Now you're being silly Prop. We've heard nothing for weeks. There would be something new to say now on progress.

The BoD had said the existing heaps were not properly checked for mineral content and that SML would check for mineral content from then on. They also said that copper cement had been produced and the customer was satisfied with it. And that was from the original heaps. Things should only get better from now on.

It's unfair to say some are wanting constant reassurance. We've had no news for an inordinate period of time. We've had no assurance, let alone constant.

Trout, it would be very strange if JP hadn't visited Leigh Creek recently and kept up to date with the progress there by other means as well. The problem for shareholders is we have no information on that at all. He used to be happy to provide such information in podcasts as well as with RNSes. I don't believe a very few derampers on here should stop him from doing that. Hopefully you are correct in that news will be coming soon. It hasn't yet and there's been a relatively long silence which has resulted in the SP more than halving and therefore the MCap more than halving in value. That can't be good.

Propinquity: '... they probably possess no materially important, new information'.

Probably? Why not JP go to Leigh Creek to check and get back to us with actual information? Why not sugar coat stuff if it's going to come good? In the meantime the SP and MCap sinks to new recent lows.

Trout, I can't see any downside in a positive report from JP in the current situation. The current situation is that of pessimism with the company. Any good information now would only be positive to the SP.

I agree with Toze. You only have to look at the actual evidence of the SP to see the result of no information at all. If JP looks at the SP he should see the benefit of visiting the site and checking with the management there. He lives in Australia after all and frequently flies to the UK or the USA to look at Cobre. Currently the SP is sinking and needs some update to bolster it. Already we need a triple bagger just to get back to the 1.82p in February.