Member Info for stockdale

I recall he didn't mention Leigh Creek in his last podcast. It's about time he did.

If anyone can raise credibility dv then JP is more likely than most. He's usually ebullient and confident but would need to provide facts and evidence as defined in the RNS getting Leigh Creek moving to production.

I see someone has invested £1k first thing this morning. It's slightly less but looks an HL commission taken off £1k. Someone has some confidence.

I've never been concerned about investing in SML - up till now. Four projects on the go, all at different phases , one creating income and another to do so shortly. Yesterday's second RNS seems to have created considerable concern now. The company seems to be dealing with the issues but we're getting a potential snowball effect from the Cobre main client default through Leigh Creek concerns. Maybe we need a podcast from JP providing detailed facts about what is actually happening at Leigh Creek as the inference from the RNS is that it is still progressing as expected but with minor technical issues.

Prop, I'm sure your civility in thanking us trumps any spelling mistakes. :-)

It's nice to have some civility when we have not so good news.

The main issue seems to stem from the Cobre main client. If they had paid what they owed the finances would be in good shape. Hans Camp has essentially been on hold in any case. And Redmoor looks reasonable so far. The market may be less enthusiastic even about Redmoor because of the general malaise that appears to have descended over the company.

Leigh Creek is disappointing so far compared to what we had hoped for. However that is more a case of the usual teething issues when a project is starting up. I still believe SML has good control over that project. The market may be looking at the previous ownership and thinking SML are having similar problems. I don't believe that is the case and they may just be having the usual start up issues.

The SP fell to 0.71p after the second RNS but closed at that figure with some rises between 12;55 and 16:30. Tomorrow may not be as bad as some may think as there was some confidence in buys in the afternoon. However I am a poor forecaster of such things. After all I am invested here.

The case for SML:
1. Cobre: still producing income for SML. If the arbitration against the main client produces even a fraction of the $21.3 million plus claim it will bring in many millions.
2. Leigh Creek: ramping up production right now with full production by early 2020.
3. Redmoor: a world class tin mine now wholly owned by SML and looking to produce in the near to medium future.
4. Hans Camp: Future nickel and cobalt possibilities and still being investigated.

The company is sustained currently by existing Cobre income and with Leigh Creek to come in to full production for added income in early 2020.

What's not to like? Even the Cobre main client stopping should mean an arbitration result of several million dollars. The main client would be well advised to settle early as JP is willing to accept less than the $21.3 million claimed. The only issue would be if the arbitration found against SML for something we are not aware of or the main client goes bankrupt with no money to pay a fine.

What's happening over on Sirius is truly tragic. Some nasty posters on the board there as well.

SML is a much more stable investment, despite the issues with the Cobre main client. This is currently a very good price to buy in at.

The advantage now is having a CEO who knows about oil and gas. Colin was just an accountant. Who, in government, would believe what he would have to say?

Be that as it may it's been clear for some time that the Slovene government has just placed obstacles in the way of AST. Not saying 'no' but also not saying 'yes'. JB will hopefully sway the balance in favour of getting permits sorted as he can deal with any problems with knowledge of the subject in the way that Colin couldn't.

They had previously been told it wasn't necessary by the government as well. All of this has been just a way for the Slovene government to kick the can down the road. Now when have we heard that again recently?

Scapegoat? What are you on about? The Slovene government have placed successive obstacles in the way of AST. One minister was removed some months ago and openly stated he didn't want AST producing gas in Petisovci. They either don't want the gas as Russia would be displeased or they're too concerned about the environmentalists or both. It's all politics and Colin had no success in dealing with it. Hopefully JB has better success or can produce more gas with his experience in doing so elsewhere.

I think the years of issues and intentional delays from the Slovene government is not a 'bump in the road'. JB needs to do what he can in Slovenia with what permissions he has and look to moving on, possibly to Croatia. AST's issues are entirely due to the Slovene government with Colin having not found a way through or around their intransigence.

https://shorttracker.co.uk/company/GB00B0DG3H29/

Down a bit to 5.96%, but still high.

That's TPT as the enigma, with her responses. AST is fairly straight forward. A known gas resource and wells in place. Just the local politics needing sorting.

I'm a little surprised it's not higher. The map shows a country wide interest. Around 1200 jobs are at risk in the local area. The numbers are concentrated in the local area but it hasn't reached the 1200 minimum in just the local area that should be expected.

As you say TPT ... ???

Enigma as always.

Nickel, Strange how you're so anti SML, a very stable company, and yet pro Sirius Minerals, a company with severe funding issues.

Sorry I missed the number of zeros in point 2.. That is a lot.

Yeah, but not $21.3 million.

$2.3 million surely?