Member Info for TarryBreeks

FUD has an entirely different meaning in Glasgow, however given the context I assumed it was the more conventional meaning: Fear, Uncertainty, Doubt :D

I'm happy with the pace. Prudent and adroit management of assets and funds is the way to reach our �100m m/c and attract ii's along the way. Adding a 100% owned mine to our mix of assets is an extremely important step in protecting our income and insuring against future placements/dilution. Ringfencing all the cash we may need (with contingency) to restart Leigh Creek is the primary consideration. We can and will continue to prove up Hanns Camp and Redmoor but this should not be done at the expense of LC until after the mine is producing IMO.

In the world of politics there is no question saying something and doing the other is commonplace LD. Personally I find it refreshing that the BOD are frank, open and honest and this is conveyed in body language, tone and actions. I understand the point was of the use of honest/honesty in interviews but our past record and the relaxed nature of interviews does not suggest anything untoward or shifty. You sense that many interviews JP appears on that the interviewer often has a really good rapport with JP and that is quite unusual and instills confidence IMO.

Thanks for posting cperkin! JP doing the rounds "Leigh Creek is transformation". Leigh Creek - $1.2m / month with 40% profit margin. "Full production in a year ... some production in the interim". 100% offtake agreement of the Leigh Creek copper we produce. "We believe we can fund everything we are doing and still have money in the bank at the end of this period". "We will probably pick up additional resources around it ..... I'm trying to build it up to a 100,000 resource which then becomes a 20 year mine and unlike Cobre we own it outright". BOOM. Show me the money JP!

�I find your lack of faith ... disturbing.� - Darth Vader :D

It's possible stockdale but if it is then anyone selling on that basis haven't done their homework. Total dilution is ~3% with restrictions on how many and when these shares can be sold on the open market. The earliest Resilliance could sell their shares is July and even then they can only sell 1/3 of their shares and that all assumes that they'll sell any at all, it's very likely IMO they'll hold them all only selling some once we're producing copper from Leigh Creek and we have more results from Hanns Camp.

Copper miners (that's now us!) are upbeat http://www.mining-journal.com/capital-markets/news/1316342/markets-copper-miners-upbeat: "Markets were upbeat in the wake of positive jobs data out of the US on Friday and copper miners rose around the globe as the bellwether metal closed up 2% on the London Metal Exchange."

Not sure what happened to my last message. Mine are spit across a SIPP and an ISA and I'm waiting for my Hanns Camp SIPP-R-ISA :D

Good morning everyone, hope you all had a great weekend! Keep those golden SML tickets safe we're in for an epic journey to £100m. Get your tickets while theyr

Yes WRB it appears so https://mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10087992 although what stockpiles (if any) Freeport has/wish to outsource at Chino isn't clear and whether we would get a look in is open for debate. However we have a proven record and a good relationship with Freeport. We have an offtake agreement for 400K of the 750K stockpile at Cobre so still have stockpile at Cobre to sell first. Trumps steel import tariffs should help with this though ;)

Institutional Investors normally like to "cut a deal" with companies who are struggling for cash. They provide an injection of cash for a discounted share price. We don't need cash. There are 19,000,000 shares from rarus (we believe) and there will be additional shares coming from resilience so perhaps IIs will cut a deal to buy those shares in a direct agreement or perhaps the meetings JP has had we may find an ii waiting to buy shares off the open market. However the bottom line here is that SML shares represent a spectacular deal at the moment for PIs and IIs alike.

I can't see the market being flooded with the first tranche of shares from LC at this so. That benefits no-one including Resilience Mining who may very well want the sp to be as low as possible this month but come April they will want it to be above the vwa for March. Bulk selling into a depressed market could mean they lose money in April, and no-one like losing money. When they do sell its likely to be off the back of a significant announcement and I expect them to sell into a rising market. All IMO.

Interesting, tariffs take effect in 15 days. Our big customer is an 'unnamed private company' taking 400,000 tonnes at market prices over several years http://www.proactiveinvestors.co.uk/companies/news/176203/strategic-minerals-tees-up-new-cobre-contract-as-galvin-deal-falls-through-176203.html We may have significantly more interest in the remainder of the stockpile with this trade development.

aandi, unless I'm missing something is a 5-7x increase in sp not equivalent to a 400-600% ROI? Or perhaps a ~60% annualised ROI. JP hinted at a £100m m/c which is ~10p per share and with the portfolio of assets I'm quite sure we'll do it. In fact that may very well be conservative so your 14p/share could very well be on the cards :)

Rarus had 19,000,000 shares; so even if they were offloading them all that's a finite number of shares and even they will run out of shares to drip into the market. Meanwhile I'll be happy to hoover up more as funds allow as I really cannot see much/any downside from 2p. Nope it's all up from here IMO. Did someone mention dividends?? Wait, it was SML? And we're on AIM?? 500% target in 5 years you say? Stick that in your 3% cash ISA and smoke it ;)

Ideally we want to attract ii's to reduce the number of shares in pi hands for the very reason that (generally) they will take a longer view of the company and it's prospects and as such hold and accumulate shares. We currently: - have a forward plan and targets - are cash accretive - have assets at various stages of production - self fund development - have low overheads - have exciting and diversified assets - have a BOD with significant personal investment in the company One of the most important aspects is that we are cash accretive, cash is king and it opens up a world of opportunities without having to do a placing each time the BOD identify an opportunity. AIM has a shoddy reputation for manipulation. Just look at the recent scandal with Beaufort Securities, AIM is 'self regulated' and that 'regulation' is clearly not up to scratch. I hope the impending US investigation shines a light into the dark corners of AIM. That all said, SML is IMO a diamond in the rough and value will win out. If PI's don't appreciate/recognise the value (and profits) here sooner than later an institutional investor will do and/or we are likely to find ourselves a target for takeover.

SP Angel value SML at 3.9p just now and Leigh Creek could add up to 3p per share when we're producing next year so compare that to the 2p we are at right now and to me the significance is clear. While the sp has been depressed in stark contrast to the news it seems that it may be due to someone offloading their shares. At some point they will run out of shares and we'll rise to reflect the prospects we have. This disconnect between our valuation and current sp is not abnormal in AIM but It does raise an interesting point; we are largely a retail investment stock. If the BOD can attract a cornerstone investor/ii it would help reduce the free float and bring some stability. I expect JP is also hinting at this in the "great meetings & solid interest in this deal". All IMO of course :)

JP aluded to corporate actvity which could very well be in relation to HC, any source of Cobalt outside of unstable DRC would be welcome news to the likes of Glencoe etc al. Redmoor may be a while off from production but there are plenty of stages to cycle through on the way and each stage helps quantify the value of the asset. As far as being 'rampy' I think it's perfectly normal to be excited at the company prospects especially in the extremely rare position of a being cash generative AIM miner. Most other miners have no cashflow and perform placings to keep the lights on. We now own a mine that will be used to make wire to keep those very lights on! ;)

Add in a little Hanns Camp magic and even at 7p might be cheap! And then there is the juggernaut ;)

Let's put dilution into perspective Fira. Total dilution only amounts to 3% of the shares in issue. And there are 3 month and 6 month lock-in periods. sp fell 2.4% today: roughly equivalent to the dilution. If Resilience Mining just wanted their cash why settle for a part cash part shares deal? I think the shares have a good chance of being sticky. Dilution is a red herring. I can't imagine anyone who currently has a position here is waiting until the LC shares are issued before topping up: that would be cutting off their nose to spite their face as March vwa will dictate the strike price. I agree it defies logic that the sp has dropped after updates on Cobre and Leigh Creek; however I will be topping up as funds allow ... before the herd arrive :)