Member Info for TarryBreeks

"Technology transfer to Abingdon Health will begin immediately with the aim of manufacturing an equivalent rapid antigen test product which therefore does not require additional clinical validation/regulatory approvals. The agreement with Abingdon Health will provide additional manufacturing capacity that could increase to several millions of tests per month."

Note the phrase "test product" - that's why it does not require any further clinical approval - the production version will. Hope this helps to clear that up.

Wonder if they got Alan Broome's drone company to do the geological reconnaissance of the area?

I'm tempted to buy some shares in the consultancy firms SML use - they must be making a fortune. In fact maybe we could get a consultant to tell us how much the consultants that SML use to consult our world renowned mining guru Alan Broome on mining are making from SML?

It could be JD but Redmoor is early stages and requires a lot of investment and development to get a decent ROI for shareholders. Much will depend on the JV agreement and the pound of flesh the JV partner will seek. Of course we should be able to look to what JV can/will be struck at Leigh Creek (which was supposed to be 100% owned & operated by SML) for insight into what the BODs experience counts for when push comes to shove in negotiations.

Cobre continues to pay the bills for now but I wonder what Freeport's take on the Brenda Smith saga is and if that has any implications for our 1 year rolling contract to sell their magnetite stockpiles. Hopefully Freeport focus on the organic growth and less at the due diligence issues that have plagued Cobre and Leigh Creek.

I am hopeful we are at the bottom and certainly many peers in this sector have no income so at least we have Cobre to cover overheads, let's just hope the BOD don't award themselves some more mega bonuses this year.

A joint venture partner will need deep pockets to help develop Redmoor - I hope the BOD can negotiate something to benefit all shareholders and with any luck ensure the JV partner manages the project development and keeps Broome out the room.

The main derampers are on the BOD and they've done a magnificent job.

Coal? That's a new one on me particularly as the world is shutting down coal plants, however I've only been here for 3 years so my knowledge isn't as extensive as yours Samroy. Can you tell us what coal projects SML are involved in Samroy?

Well I wouldn't want to be out of this over the weekend.

Wait - are you saying these posters aren't genuinely investing in SML and it's long term prospects trout? I'm shocked - they made a wee list and everything.

Almost like all these new strong buy posters have an ulterior motive.

Redmoor - it could be huge JD - a juggernaut even but to get it on track we'll need cash, some sort of big wave of cash like a tsunami - yes we need a tsunami of cash! I wonder if we could borrow it from Brenda, we could ask JP to text her.

JP: Hi Brenda, we need a tsunami of cash for our juggernaught, can you hook us up?
BS: $4m in 2 weeks
JP: gr8 thanx
BS: cheque is in the post

It is indeed Samroy and it really didn't have to be this way. Bad luck is unavoidable, poor decisions/mistakes are understandable and can be forgotten/forgiven - the problem is that the share price has fallen from ~2p to it's current 0.4p valuation and this is a wholly inappropriate backdrop remuneration to the tune of $500k.

The 'bonuses' are for me a serious issue and if the BOD listen to shareholders, as they claim, and wish to restore trust in their stewardship they should give serious consideration to returning them. I've no issue paying bonuses when shareholders benefit but the most recent round feels like asset stripping. It's a simple move - return the bonus until Leigh Creek is producing, as promised, by the BOD. When the Leigh Creek "tsunami of cash" arrives few would object to the BOD benefiting from a bonus; taking one in advance just isn't on.

There is no other forum for recourse except this forum particularly as this year they cancelled the AGM and replaced it with an Alan Broome biopic.

JD can you please clarify how much cash SML have in unrestricted funds for your "cashed up" claim?

Redmoor does indeed have a lot of potential and Cobre is bringing in much needed cashflow to cover overheads and provide a little cash to invest in the rest of the business. Leigh Creek also has potential yet the BOD have focused on the wrong areas and fallen into the same trap as all the previous owners of Leigh Creek - burning through money (our money) and now much more is required to actually turn a profit at Leigh Creek.

We have, of course, had to raise twice to buy the remaining 50% of Redmoor because the money that was raised first time round was poured into Leigh Creek.

What really grates is the self proclaimed experienced and skilled BOD were conned by Brenda Smith into thinking we'd have $4m in a few weeks and acting like the money was in the bank - the court transcripts of text messages between John Peters and Brenda Smith were devastating - I'm confident my three year old could have seen through that ruse.

Can the BOD use some of that self proclaimed experience and skill to recover some shareholder value that has been burned on the altar of Leigh Creek? I certainly hope so. However awarding themselves a bonus in the wake of a horrific 18 months for shareholders is absolutely disgusting and a tactic seen in the worst kind of AIM listed companies designed to fleece investors of their hard earned cash.

I think the real question Sammy is: why are you keeping £8k in your knicker drawer?

lol - you certainly wouldn't - if our world class BOD has any rabbits in their hats, up their sleeves or anywhere else now would be a good time to pull them out.

Well I don't know about anyone else but I'd forgotten how totally amazing Alan Broome is - we're really lucky to have him collecting bonuses from us; he's a legend in his own lunchbox.

A few food analogies there patrick7 (treacle, berried) - you'd best be careful though because John Peters loves a new adjective and berried sounds interesting. Is it berry specific (strawberry/raspberry/gooseberry)? I suppose it could perhaps be related to the famous French hat. You know I might actually be prepared to give John Peters the benefit of the doubt if he appears on a proactive interview sporting a french beret covered in soft fruits and treacle begging for forgiveness - although probably not.

:)

Looks like it's largely due to the reduced the spread which was 28% and is now down to 14%. Hopefully this wont trigger another BOD bonus as a result of the 'tsunami' of buys.

Agreed on the bonus Slurm it was the final straw, how very dare they award themselves a bonus in the face of all that has happened, ill judged doesn't even come close.

I'm angry and I'm sure that is coming across. I'll avoid posting for a while as you are also right it wont change anything. I genuinely thought SML was different from other AIM companies out there and have sadly been proven very wrong.