Member Info for TarryBreeks

Independent has an article on one of our prospective Cornish tin mining neighbours http://www.independent.co.uk/news/long_reads/cornish-tin-mining-mines-industry-cornwall-south-crofty-mineral-start-ups-a8240601.html.

This is an excellent opportunity to buy into a cash positive junior miner with a diversified and growing portfolio of hot metals at a time of growing demand. Leigh Creek is valued at 3-3.5p on its own, add in Hanns Camp, Cobre and Redmoor and ~2p is an incredible bargain.

Boffins at Harvard have discovered a way of using nickel and graphene to catalyse CO2 into CO which if taken to industrial scale means we could, in theory at least, start to scrub the air of CO2 and turn it into useful chemicals/fuel. Handy! "Based on the results from the studies at Harvard, NSLS-II, CFN, and additional institutions, the scientists discovered single nickel atoms catalyzed the CO2 conversion reaction with a maximal of 97% efficiency. The scientists say this is a major step toward recycling CO2 for usable energy and chemicals." https://www.graphene-info.com/graphene-sheets-and-nickel-turn-co2-usable-energy https://www.sciencedaily.com/releases/2018/03/180301094857.htm

One of our 'neighbours' (400km away) Macarthur Minerals has reported a 2.6% cobalt 2.0% nickel find: https://globenewswire.com/news-release/2018/03/05/1414867/0/en/2-6-Cobalt-and-2-0-Nickel-Discovered-at-Macarthur-Minerals-Lake-Giles-Iron-Ore-Projects-in-Western-Australia.html, interesting results.

Raided the piggy bank and added another 500K just before close. Leigh Creek is worth 3p to 3.5p on it's own excluding Cobre, Redmoor and HC. The market might be slow in understanding the value here but the resources speak for themselves and value will win out in the end.

JP & PW sounded like they were on cloud nine and who could blame them?! SML ducks are lining up. Did someone mention dividends? :D

There is no doubt we are significantly undervalued given the Cobre extension and LC copper mine. Add in a Redmoor juggernaut and HC ace in the whole and the mind boggles as to why a self funding cash positive SML is sitting at 2p. Check down the back of your sofa and raid your piggy banks. We are looking very cheap at 2p.

In summary then Dodge100 you would say now is a good time to buy both from the perspective that buying now will, if enough people do buy, reduce any future dilution based on a higher march VWA and more importantly that once the LC shares are issued that you believe the sp will rise to 4p. Also we are only talking about 3% dilution in total and of course just because RMA's shares CAN be sold does not necessarily mean they will be.

Added another 500k at lunchtime, SML are a bargain now IMO whether you bought in at 0.5p or at 2.5p. I'm amazed we are still sitting at 2p with LC and Cobre, seems to be a great opportunity to top up and I've put my money where my mouth is.

So, looking again at the figures I might have been wrong on the debt for WRL. There is a credit facility of $16M (debt) and a loan of $20M (debt) adding these together we get $36M not the $26M I stated earlier. Is that right Mick? Seems quite high for a company that made a loss of $5.1M last year.

"At December 31, 2016, Wentworth has $2.16 million of trade receivables from TANESCO representing thirteen months of gas deliveries. Subsequent to year end, three months of gas deliveries were paid by TANESCO." - KPMG Very worrying.

So basically the $5.5M they raised through a private placing (plain old dilution for ordinary shareholders) will just about cover their $5.1M loss from 2016. A nightmare scenario of spiraling debt and dilution but looking back through the posts on this board it's all ramp ramp ramp from posters like mick2020. Deary me, I hope people don't put too much faith in his heavily biased opinion.

So basically the $5.5M they raised through a private placing (plain old dilution for ordinary shareholders) will just about cover their $5.1M loss from 2016. A nightmare scenario of spiraling debt and dilution but looking back through the posts on this board it's all ramp ramp ramp from posters like mick2020. Deary me, I hope people don't put too much faith in his heavily biased opinion.

To be fair to Wentworth the $26M was at December 31st 2016. However I note from their auditor (KPMG) the following: Wentworth has an accumulated deficit of $261.8 million at December 31, 2016 and incurred a net loss of $5.1 million during 2016. Cash generated from operations was $0.48 million in 2016. Working capital has decreased at December 31, 2016 compared to the prior year - doesn't sound good.

Just had a look at the WRL debt situation, $26M in debt and a recent placing diluting the company by 10% to raise $5.5M, doesn't look good, more dilution for weary shareholders. 10p by the end of the year.

Nothing positive: http://www.iol.co.za/business/international/london-mining-may-be-next-casualty-1.1765094