Member Info for TarryBreeks

Agreed cperkin - blue is always my favourite colour on here.

Whatever happens with Ruvuma in the next few months it's clear our priority needs to independent income via Kiliwani - this must be resolved ASAP. I cannot understand why it's taken this long to remediate, its a lose lose situation for the TPDC and especially for Aminex. I think I'm right in saying that the cash the TPDC claim we owe is similar to the cash we are owed by the TPDC - can we not just let them cancel themselves out and move on? Even if it means forgoing some of that cash we could at least begin production again!

Great debate on here today folks! I've been hunting down the back of the sofa and raiding piggy banks to average down a little before we get an update on Cobre / LCCM / HC / CARE / Redmoor - what other micro cap miner has this many self-funded projects on the go all with transformational potential? Not many.

Get them while they're cheap!

If we don't hurry up and sort out some income soon you might be right Crusty :-/

Bhattacherjee has frequently claimed he is not interested in the day-to-day share price. If he was really concerned he would buy some more shares and a significant amount at that and also postpone the salary increases until post Kiliwani remediation/Ruvuma EPS.

"overworked hero Drewky"?

It takes two people to have a disagreement Tanzania. Drewky is extremely quick to launch personal attacks at those he disagrees with; is that the behaviour of a "hero"? The mud-slinging from all sides is very far from heroic.

This board seems to have descended into a mud slinging match and I'm quite sure we're all fed up of it.

I accept that some decisions have been outwith the BOD's hands yet ultimately the BOD are responsible for the share price and here we are having fallen from 7p+ to 1.7p after finding the largest onshore gas field in Tanzanian history.

We have no income
We have very little cash (based on December's figures)
We have high costs (salaries)
We have vague, some may say unrealistic, timescales on CH1 spud

I cannot imagine there are many LTH's who are happy or content with the current share price.

It's very possible we have no money to remediate Kiliwani without the $5m from the ARA farm-out. So why, if that is the case, would the BOD think it appropriate to increase their salaries?

I suggest the BOD hurry up and set an EGM date to move this forward ASAP; we have waited for an extremely long time for the BOD to bumble along to this point and I am quite sure many LTH's are now fed up waiting.

lol - I'd settle for £19.99 ;)

Strategic Minerals pleased with progress at Cornwall tungsten development https://t.co/pBSKpGTpMO via @proactive_uk @SML_Minerals #SML

Just in case anyone missed the tweet this avo: Drilling continues successfully at #SML's Redmoor Joint venture in Cornwall #tin #tungsten https://t.co/SNJGofXuqb Drill baby drill :)

No there weren't GL but back then the BOD had low (compared to other listed companies) salaries and the share price was heading up. Unfortunately the BOD chose to increase their salaries as the sp was/is heading towards 1p after farming out 50% of Ruvuma for $5m and a carry of up to $35m. Would it have been that much of a hardship for Bhattacherjee to wait until the EPS was in place which, according to his timescales, will be 2020. All shareholders have to wait so why can't they?

Performance based pay - show us some performance and we'll not gripe about the pay. Show us stagnation and award yourselves massive payrises and expect unrest.

If the TPDC debt stands and this is added to our other costs including massive massive salaries Aminex could very well be near or at the point of insolvency.

Is it possible the BOD are trying to suck us dry leaving the company at the point of insolvency where we have to sell of the other 25% of Ruvuma to you-know-who for tuppence to keep the BOD on their fat-cat salaries?

Haha, sorry, definitely a typo :)

Do my eyes deceive me or has the (unwarranted IMO) slide abated? Looks like a big blue triangle to me!

I'm looking forward to when Dr Goole tells us he's found a massive nickel sulphide deposit right next to a pile of gold and cobalt ;)

Most financial results have been released at the end of August Crusty, surely it's possible for them to announce an EGM with enough leeway to complete the financial report. After all they've not had much else to do with Kiliwani on ice and AST now in charge of Ruvuma.

Even if they announce it for the 3rd week in September that's a month away - surely enough time to dot the i's and cross the t's?

I don't see many buyers feelinlucky.

Perhaps the BOD could dip into their own well lined pockets and buy some more shares. Apparently the II's are happy so perhaps Majadee could also buy some? Or are they not THAT happy?

Where is that EGM announcement??

The only things I can see that would help improve the sp short term are: - resumption of activities at Kiliwani - BOD buying a significant amount of shares (not pocket change) - BOD releasing more details about transfer of staff etc to ARA/AST - Announcement of new opportunity - Announcement of sale of Solo's share of Ruvuma to AST Not sure how likely any of these are before the EGM.

The bod probably can't do very much right now until the EGM which it would seem is awaiting financials. And ironically after the EGM they'll be able to do even less. However they could buy some states in the open market especially given their new massive, undeserved, salaries.

"Sun shining on one of our active rigs in Cornwall at Redmoor drilling for #tin & #tungsten
Meanwhile Met test drills continue at #SML's Leigh Creek #copper project in South Australia"

https://twitter.com/SML_Minerals/status/1030431808457007104

I am deeply saddened to hear about Webmoor; he was a huge personality here on these boards. The archetypal captain: at times cantankerous and at times jolly he held no prisoners and shot from the hip with a fantastic sense of humour. He will be sorely missed :(

Crusty - I will send you an email to pass on.

Valid points Crusty; financial results and forward plan are, of course, extremely important.

My understanding of the EGM is that it is a mechanism to ratify the farm-out deal I would suspect there will be few who will vote it down given the stakes.

If we assume the farm-out is a forgone conclusion and that it is possible (likely) that Kiliwani remediation is being held up for some unknown reason which just so happens to have forced us to a farm-out. If we also assume that we will have little cash available to do little other than remediation at Kiliwani and pay our BOD their spectacular salaries until the EPS kicks in it seems to me that we should just get on with it.

What I don't understand is why the EGM has not been called yet. Let's just get on with it. The only discussion worth having at the EGM will be the farmout. Financial results are bound to look poor given we've had no income and large salary costs from our expanded (and now largely redundant) BOD so I hope that's not the hold up.

The other possibility is ARA in discussion with SOLO to buy out (or farm out) their share. Any deal negotiated would provide a mechanism to value to our remaining 25%.

I hope SOLO get a great deal; however if they do and it's considerably better than ours ($1m per 18.7BCF GIIP) it will reflect poorly on our own 'transformational' deal. If SOLO get a poor deal it will reflect poorly on our sp.

Either way I hope this phase is over soon and hope we can start looking towards a 2018 spud date for CH1.