Member Info for stockdale

Fira, that's another board. They are not unique and are where they are mainly due to local politics for that country.

The equity raise price is almost always below the current price and the SP then generally falls to that price or slightly below, with the momentum of a fall. The price was 1.4P. The current price is slightly less than half that. The current price therefore is not due to the equity raise price. The current price is due to the Cobre main client defaulting and SML consequently having less cash available for a while. That effects investment in Leigh Creek and the 50% purchase of Redmoor from NAE. The Cobre (previous) main client has screwed SML short term all on their own. Legal action must therefore follow as that is completely unacceptable business behaviour and has damaged SML.

I see that he invested on the equity raise. That was missed out on the record I saw. However the last time JP bought on the open market, without an equity raise, was last year. Equity raises are always at favourable rates whereas a buy now would be on the open market and, in fact, at a considerably better figure than the 1.4p he paid on the equity raise.

He hasn't put money in since last year and PW is now well ahead of him.

Don't encourage him.

I've posted quite a lot already about SML's issues. I believe I tried to put forward some useful points rather just your destructive criticism.

Or were you just previously annoying the readers of that board without being invested?

And your investment there before last Friday?

How's Sirius going NI? I'm sure readers find your posts invaluable.

Your Twitter post said 62.9p. A bit expensive.

It is supporting the SP though and that's what we want.

Your glass half empty mk? Have a top up.

Good. AIM is all about confidence.

It would be nice to think he's arranging for a rabbit to be pulled out of the hat before the call to get people enthusiastic. He's had plenty of time to get himself in place as CEO. He should have had talks with the Slovene government. He should have had time to go over the seismic survey and see exactly where gas could be reached under Petisovci. The Croatian bidding was supposed to be around June this year and so he should have some idea of any progress on that.

BoD salaries is an important issue with the finances being so tight. We also need to know:
1. What JB is doing in Slovenia to deal with the reducing output from PG10 and PG11a, with respect to his oil and gas expertise?
2. What other levels are being looked at from the seismic survey - be they shallower or deeper?
3. Are they looking to move out to Croatia either as well as mopping up what gas they can in Slovenia or instead of Slovenia?

I shall be abroad on 15th October and unable to call in unfortunately.

I have no evidence to be outraged by the BoD. If the Cobre main client had paid their owed amount the finances would be good and you would be happy with the BoD. Could they have had a better grasp of the main client's position? That we don't know. We don't even know who the main client is (was).

The situation at Leigh Creek appears to be the usual teething start up issues which are getting sorted, as far as we know. Again no evidence to be angry with the BoD, yet.

Redmoor is now wholly owned by SML and the payment of NAE's 50% is being covered properly by the BoD, unlike the Cobre main client with SML. JP could have realistically expected the Cobre main client to pay on time or soon after. To default completely with resulting legal action is not normal business.

The current communication strategy is only ensuring the SP falls or stays low. The AIM market works on confidence. The further it falls now the more it has to rise just to get back to the 1.75p it was just recently. Currently that would require a more than doubling of the SP.

Yup. So come on JP let's have a podcast with all this info.

It would seem that way dv. My understanding was that production would ramp up from low production from July / August 2019 to full production by early 2020, with the 11th April RNS targeting being the biggest copper producer by mid 2020. The chemical process would require that as full production would take time chemically but some copper cement would be produced even at the early stages. A podcast from JP would be great clearly explaining all of this.

Garuda is Indonesian and they usually fly direct to Jakarta. Bit awkward for India.