Member Info for TarryBreeks

I don't know if you listened to the Q&A prop but Alan Broome is massively qualified, we're lucky to have him. I'm surprised he hasn't been poached to run Rio Tonto, probably only a matter of time.

John Peters is also massively qualified, he's been doing a fantastic job of maintaining and growing shareholder value, it takes a lot of effort coming up with phrases like "juggernaut" and "tsunami of cash" and he needs a rest after all those texts to Brenda.

As Peter pointed out SML is profitable, particularly for the bod, and a crack team like this is worth every penny of their bonuses. The current share price is a mistake it keeps going down in error, it's absolutely nothing to do with decisions and actions of the bod. If anything we should be paying them more.

I like the new you Fira :)

So IMO the reason this hasn't gone away is that they didn't come on and say "Ok guys, you're totally right, we f**** up and if we had our time again we'd do it differently. Mistakes were made and lessons have been learned. We'll forgo our bonuses this because while we may be in the rules to take them it's doesn't send shareholders the right message." Instead they just waffled on about how great they were and justified the bonuses with some slides.

Maybe we'll find altruistic partners for LCCM and Redmoor and we'll see 2p again, I certainly hope so, but sadly I'm no longer expecting an ROI - just hoping for my money back.

Interesting that with the immense and near immeasurable experience of Alan Broome and the supreme deal making and financial wizardry of John Peters that they were both conned by a wee wifey who kept saying "cheque's in the mail" over and over and over again. Turns out all that experience and 'skill' didn't count for anything when it might have actually been useful.

Fira, glib? Never ... ;)

Warning - an impostor has taken over Fira's account and is now posting neutral/positive posts about SML. I'm not sure what this means but be extra cautious folks.

Summary: we're brilliant so suck it up shareholders; we'll pay ourselves how we see fit.

Sorry to hear that mk, the way things have been travelling I'm sure we're all rueing not selling out at 2p+ - even 1p seems very very far away now. It would be easier to swallow if the bod hadn't taken unwanted bonuses and inflated salaries given such woeful performance. Hopefully there is something positive in the pipeline although with the dilution we've had of late B/E seems further away than ever.

Hope you make your loss back elsewhere!!

The only red you say DV? That makes SML unique and as such probably triggers a special additional extra side bonus for JP. Hope he doesn't tweet today too or the coffers will be dry in no time ;)

I don't think international flights are operating from Australia but it does beg the question in the 21st century considering we're all used to working from home why we couldn't have held a virtual AGM on zoom or similar.

:D

SML just retweeted this https://twitter.com/CornishLithium/status/1286204606528327682.

I was going to make a joke about how much bonus JP would get per tweet but then it made me actually wonder so I did a calculation. Sorry if this makes me look like DJ but I couldn't help myself once I'd started.

So in 2019 SML made 156 tweets in total. JP took $491,000 in total remuneration in 2019 with $191,000 of that as a 'bonus'.

JP
Total cost per tweet $3,147 ($491/156)
Bonus per tweet $1,224 ($191/156)

Still - good news because JP has agreed to a 25% pay cut so that means he'll only earn $143,250 in bonus this year which I'm sure you'll all agree is a total bargain.

Where's that PEPR?

He posted it in the future prop. You'll need to wait until then to see it ;)

I think it's calculated based on the number of buzzwords/phrases in any proactive interview:

SP is undervalued: 10k
Juggernaut: 25k
Tsunami of cash: 50k

Rising copper prices are good news. Despite not producing yet I wonder how much additional bonus JP will award himself for this development?

"A noticeable increase in interest in the Leigh Creek project has been observed as the copper price has recovered to above pre-pandemic levels. Not only do these higher prices support the long-term economic attractiveness of the project but they also highlight the economic potential for the project to enter into production within a year. This makes the Leigh Creek Copper Mine one of the quickest, if not the quickest, near production copper project in the world."

What makes you say JP's trying to ramp it up?

Why is there a 30% spread?

Just wondering what current investors (we all know where you stand DJ) think of the current situation. Do you think the BOD are:

A. Riding out the 'storm' because the share price doesn't affect their salaries or 'bonus' and they'll be paid either way so it doesn't really make much difference to them and chalking the whole thing down to jolly bad luck and market forces.
B. Scrambling to find a way to spin something positive out of the current situation, genuinely concerned at the performance, urgently reviewing remuneration and have a laser sharp focus on prospects for the near and medium term.
C. Working furiously behind the scenes to triumphantly produce a golden rabbit from a hat that will have us all laughing at their brilliance and celebrating a return to fortune.

I'd really love it to be C but I'm resigned to the prospect that it's most probably A.

Maybe Alan Broome could do a drone survey - that might give the BOD some perspective on bonuses in light of the performance over the last 18 months.

Unfortunately Patrick the 5 year chart doesn't agree with that statement, I've been here for 3 years and the share price has only gone one way. One by one the projects have been put on hold:

- Hans Camp
- Leigh Creek
- Redmoor

We've contracted back around Cobre which thankfully is cash accretive and revenue is increasing but I think it's perhaps a stretch to suggest investors here are deramping for a lower entry. The company isn't expanding it's been contracting and paying John Peters $500,000 per year isn't helping. Great the BOD have lots of shares but they also pay themselves lots of cash - so much in fact that the coffers are nearly empty and we can't progress any of our projects without another placing or joint venture partner.

I hope John Peters can surprise us somehow with something or perhaps that miraculously we get some money from arbitration but really you have to question some of the decisions that have led us to this point. You certainly have to question the remuneration package.

Watching a few old interviews on YouTube and it's just dawned on me that the tsunami of cash JP refers to is the one going from SML to his personal bank account.

I hope the bod have something up their sleeves (other than our cash) to start rebuilding trust and confidence from here. Some cash from Brenda would help but I suspect there isn't any.

LCCM seems to be the best hope for now and it will depend on what deal can be agreed on finance/JV.