Member Info for TarryBreeks

I would be careful with what you are posting DJ this is defamatory/libelous territory: "They knew she was a fraud but mislead investors. Shocking."

Mistakes have been made and the sp will take a battering today. I'm very disappointed with the performance and transparency of the bod. More speed less haste should have been the mantra but it seems JP spread our resources too thin. Overstretched at LC, buying out Redmoor before funds in place and shareholders have paid the price.

Materially though not much has changed since last week. We knew the client was under investigation by the SEC. Brenda Smith fooled a lot of people, I won't be selling right now and I think the drop has been overdone.

Alan Broome needs to consider his position though. He either needs to move on or show faith buy buying a substantial amount of shares.

Speaking of Alan Broome Dv the final statement in that RNS seems to miss out that Alan Broome has not continued to invest in the company in this period despite being the very person who flew out to meet Brenda Smith. What exactly did that meeting entail?

"CV Investments has caused the Company considerable angst but has also contributed meaningful funds. While the Board has been restrained until now in naming the counterparty, it should be noted that they have full confidence in the value of the Company and have continued to invest in the Company's shares throughout this period."

I'd also like to see the letter of intent. Decisions were made by the bod and pi's based on the RNS and interview relating to that letter yet only the bod had the means to run DD on it.

This really doesn't look good if it's all solely based on the text's we see in the transcript.

The transcripts don't look great, it's clear knowing what we do now, that more DD and greater scrutiny was needed. However it's easy to look back in hindsight and say how it should have been done. JP was taken in but a so we're a huge number of companies and individuals. We had been paid in advance for magnetite so this didn't seem hollow words and many on here, myself included, wanted to give the client more time.

Yet with this new information I think we'll be lucky to get much if anything from the wreckage.

Mistakes happen but no-one invested here to lose money and many, myself included, are well underwater with nearly twice the number of shares in issue it's a long way to b/e for me.

The bod now need to focus on rebuilding trust and I hope this fiasco has not negatively impacted upon our relationship with Freeport. We need LC producing ASAP.

The HL holding will comprised of individual Pi/ nominee holdings.

And of course the BOD also have options at a 10p strike price. We've had some bad luck with the Cobre client and Leigh Creek hasn't quite panned out as anticipated. I'd like to see a concerted effort by the BOD to get things back on track. Perhaps to start Alan Broome could buy some more shares.

I think it'll need some news to move it. Arbitration update (assuming positive) or LC PEPR award/update/JV maybe. Perhaps securing a new client contract at Cobre. We don't have much cash for a great deal else.

Oh lol - got you now. It was the extra 7 that threw me - honest guv. Think I prefer the "supernatural success will follow you" definition ;)

I googled 7777 because I wasn't sure what you meant and now I'm even less sure but apparently angel number 7777 means supernatural success will follow you. Which sounds great to me! We could use a little success supernatural or otherwise ;)

"Client's assets seized as part of a US Securities and Exchange Commission's investigation with the Court likely to appoint a receiver to manage the assets of the client mid-June 2020"

Is this likely to be posted here: https://www.sec.gov/news/pressreleases or here: https://www.sec.gov/litigation/admin.shtml?

Fira:
- JV at Leigh Creek
- Full or partial settlement of Arbitration
- Replacement major client at Cobre
- JV with major at Redmoor

All possible.

Thought I'd just re-post this in part to change the topic :)

- Producing ~$3m per annum at ~ 50% profit from our magnetite operations at Cobre in the USA. Sales up 8.8% year on year with sales of ~ 40,000 tonnes pa and 700,000 tonnes stockpile
- 100% ownership of UK based Redmoor Tin/Tungsten/Copper license in Cornwall with over 11.7 million tonnes at a tin equivalent grade of 1.17% (open at depth)
- Working on securing a JV to re-commission our 100% owned copper mine and tenements at Leigh Creek in Australia with a 100% offtake agreement in place.
- Awarded US$21,929,259 plus additional interest for breech of contract by one of our major clients on June 1st 2020 - payment pending will we get all/some/none
- heavily invested BOD with ~8% shares in director hands
- Exploring nickel prospects at our CARE licenses in Australia

Either that or step down - we can't afford dead weight on the BOD.

This time next year Rodney ;)

In terms of production at LC I'd suggest early 2021 but there should be some so catalysts in the meantime. Once we have government approvals that should reduce the risk and boost so and if the BOD have arranged for a deal contingent on approvals then we should get a further boost once JV is announced.

Any funds from arbitration should be a nice bonus and we can plough profits from Cobre into additional work at Redmoor in preparation for an MRE.

I did Prop although JP was quick to play it down reiterating the need for a PFS at Redmoor. We should really be directing resources towards PFS and MRE at Redmoor. If LC gets us there with increased income/revenue then perfect. Certainly hasn't accelerated plans quite as anticipated but you have to speculate to accumulate.

Fira - anyone betting the farm on posts from a BB without doing some due diligence and reading RNS statements probably shouldn't be betting the farm on it. That said I think anyone who bought in at 0.9 and particularly at 0.45 will do very well.

Wonder when we'll hear how many took part in the shareholder offer.

A moment's silence Fira; don't you think that's a little dramatic?

I don't imagine there are many LTHs with averages lower than the placing price. Sp was 0.9 for mere moments. I think it will recover now Redmoor is settled and there is a plan for Leigh Creek. Any whiff of payment from arbitration or confirmation of a deal at Leigh Creek should get us back to a more sensible sp.

Thanks both - great minds.

So JP gives a bit more detail on the JV option for Cobre although it was a little muddled on delivery. I believe he said a 25-30% pre-tax IRR on investment into 50% of Cobre to fund it through and bring a little investment back to SML presumably subject to PEPR.

Copper demand and price up as a result of increasing demand from China: https://www.mining.com/copper-price-rally-builds-as-chinas-spending-balloons/