Member Info for thelearner

For years they were unable to raise the finance required to build the mine. I have been a LTH in CNR, but not so long as many others here.

Jim Mellon had full control of the company, majority SH. No mining experience. Chairman was MC - again finance was hie background, not mining.

I watched CNR the last 5-7 years mostly regurgitate the same info in presentations, almost like they were looking for a partner who knew how to build a mine.

There was some additional drilling done in this period, to help with determining where to extract ore first, but no real further exploration drilling.

At one point they had a Canadian mining expert well invested - can't recall his name now, but he bailed, don't know why but suspect JM did not agree with what he wanted to do.

Cannot understand the big drop today in SP. But from what I have read about MTL - they know what they are doing and have a very good CEO. There is always risk with a small producer with a single asset that plant problems - even outwith their control - can severely impact the SP.

I have never sold any of my CNR holding, had small profit at time of sale, and have reinvested the cash portion here and added. Tempted to add some more, but I'd have to sell some of my other stocks, and I am always a bit cautious as La India is in Nicaragua, but other companies have grown to mid tier after starting there and making a lot of cash, some using the cash to diversify to other lower risk mining jurisdictions..

Surrey, the original FS financial also assumed paying interest on loans and loan capital repayment, while now mine build is financed from Runruno profits.

I also do not know in FS how much the capital cost of the mine processing plant was, but potentially this cost has been reduced by buying a used plant for $10 mill, with very little operating hours. This has also decreased mine build time and earlier production.

There are also funds available to go drilling and hopefully increase resource and reserves much earlier.

I know many of us ex CNR LTH thought the asset was sold too cheaply, but getting bought by MTL was the best thing that ever happened to us.

For years CNR was burning cash, preventing the same information year on year and making very little progress. More progress this year than CNR achieved in the last 5 years or more.

HL will take 500,000 at 1.475p, that's how much I have in a SIPP. I never tried a sell quote for more from ISA. I declined the quote.

The markets are having a red day. Every investor knows there are peaks and troughs.

Ralph sold at 0.7p and from being very positive about SML, and even saying considering buying back in at 1.2p, world class tungsten asset, has only posted negative things about SML.

Does not hold any shares, says he sold them all, that's even if he ever held any.

I checked all through his SML posting history and posted it, but it was taken down, dont know why. Has zero credibility here.

Prop - many different industries have to carry out very small scale tests to facilitate large plant design. Does it always translate perfectly on large scale - no - processes can be very difficult, but generally you can fix things.

While it looks like Wolf Minerals were prevented from fixing things due to a combination of no funds and a falling product price, the information gained will be known to the wider industry and it's all lessons learned.

What will be very interesting here is the exploration potential to expand the resource. "CRD039 and CRD041 were designed to test the Redmoor JORC (2012) Exploration Target." The Redmoor 2012 JORC MRE had 11.7mt of ore. From RNS today "Redmoor has a JORC (2012) Exploration Target of 4-8Mt @ 1.0-1.4% Sn.eq." Potential to increase resource size by 30-65% - but nothing is a given until we have Assay results from the lab, it could equally find much less if an exploration target, but the geologists have seen the cores and compared to known cores, and seem to be very happy with what they have seen. But the best place to find more minerals is where you have already found some. And then there is new exploration ground as well.

Yes we are still very early in the discovery process, but as an LTH I am delighted with the highly competent management we have seen to date since the new BOD got rid of the old lot. us LTH certainly have a lot to thank RAB capital and Charles Manners for.

I note my post on 12th November showing 1 of the more negative posters posting history has been taken down - very disappointed with this - been here a long time and don't ramp or deramp, try to stick to facts. But not losing any sleep over this. Will only see green ticks from them in future anyway.

My preference would be to grow the company through further acquisitions. MTL strengths seem to be mine building and processing, they will hopefully further enhance this reputation at La India. Look for other juniors with an economic resource with exploration upside, but who have no mine building or operating experience. CNR 2 is what we should be looking for.

The 66K shown as unknown was mine and a buy at 19.355 (posted earlier before trade was posted), the 980K transaction was at 18.512 - so if that's a buy and was posted at 14.16 good price and SP was a little lower then. Could have been a sell maybe?

The 100k, 75k and 253k transactions likely buys I would say - who knows - in this world should not be hard to definitively post everything as buy or sell

No problem buying on HL - just topped up 66329 @ 19.355p - hoping for more good news. I am not expecting good news from the first drills in Argentina - exploration is very tough and it's highly unusual to strike with early drills. But let's hope we are lucky.

Bluegrass thanks, I did not know Blacksheep's holding, Blacksheep you have done great averaging down like DVH did.

I bought 2.5million more shares for about £8 .1K on 1st Sept, whish I had bought more. Now holding 7.2 million, at average 1.04 - my first buy was 1.99 in March 18, my average was 1.4 prior to my purchase in Sept this year. Now holding and hoping for big things. I almost bought more around 0.8 but missed the boat. Was too hesitant.

I did not realise how much belief JP had in Redmoor asset Blacksheep, but he had a lot in LC as well! Brendagate and the Bonus and justification did it for me with the old BOD.

2.5 million shares would not get you on the significant shareholders list - there are 2,349,297,949 shares in issue - so 2.5 million is .106%. A significant shareholder is considered to hold >25%, more than 5% gives you some rights to call for a vote, and you only need to declare TR1 once above 3% or dropping below 3%, and every % gain above 3% unless you are still acquiring.

I've seen some companies list large shareholders below 3% but that must be with SH agreement.

10p Target - I hope you are correct but not holding my breath. TBH I never thought we would see 1p again and am delighted with the work done by Charles manners and RAB Capital. Shows how bad the former BOD were - the worst lifestyle BOD I ever came across.

Have not had time yet to watch investor presentation, weekend job.

The current drilling programme and MRE works are fully funded. We still have a cash balance of $0.83m and there will be income every quarter from Cobre.

There is also the potential sale of the Leigh Creek Asset - but we should not take this as a done deal.

One of the other big positives here is the amount of exploration ground we have, and the single drilled new explorations hole has encountered mineralisation similar to the historic holes (visual from cores) - but again do not take anything for granted until we have lab assay results.

If all the results from the current drilling programme are very good, and the exploration hole is also good, I'd expect to see a new drilling exploration programme planned next year, and this will have to be funded. If there is no Leigh Creek sale, then there will need to be a placing for this, as new discovery or more resource has the most potential for SP and company market value growth. However any potential placing would not happen until after all drill results are published and MRE update completed.

If there is a placing, hopefully our BOD will let existing shareholders participate, and on same conditions as everyone else - but this would be very unusual. There are many LT holders here with a high number of shares, some still underwater, be interesting to know the Manners family average price. Historically they have injected more of their money into the company at placings, in bad times.

Blacksheep, I like many others was taken in by JP. Although I said DJRyan ramped SML I always thought it was his genuine belief in what the BOD were saying, and I enjoyed his posts and interacting with him. Col80, he led me to the GGP board for which I am very grateful. Glad to hear he is OK and well.

DJRyan I think it was who pointed me at GGP, not 100% sure but was someone on this board, went through highs there, never sold, then lows but back to highs and still holding strong there, where there is I am sure more to come.

Sorry it was bitcoinbuyer. They were still posting here June this year. In Oct 24 claimed still to have £50k invested here and at the prices they were buying would be huge volume of shares. Still posting on COBR.

Blacksheep very impressive holding, I think from memory DVH had very large holding too. I have not reached break even yet, but not far away. Glad I bought another 2.5m a few weeks ago. Should have bought more but hard to shake off the memories of JP/AB. Very impressed with what the new team have done so far but it's early days. Think they are moving in right direction, and possibly readying for a sell of Redmoor.

RAB Capital may have sold some, but they probably operate with guidelines for risk management not to have over a certain % of their portfolio in a single stock. They also may have spotted similar opportunities in other companies they think are undervalued with potential.

I first bought here in the days when DJRyan I think it was, who used to ramp this all the time and was taken in by him. Also thought bitcoin investor would reappear.

DVH thanks for the note and really glad you have been able to exit at a much higher price then you ever thought, you were incredibly brave averaging down while the old BOD were still in charge - that had been a very considerable number of shares sold - from my recall DVH had one of the largest PI holdings on here.

I hope and think this is going to go a good bit higher, pity you could not hold on, but newbies should realise that manly LTH here have a lot of shares, as well as ex BOD, so there will be selling into the rises as people take some profit for years of pain.

As previously posted been here for years and had given up until CM and Rab Capotal ejected the old BOD.

Presentation is professional and very good, better than anything I have previously seen from SML.

Encouraged to see the new exploration licences obtained for Cornwall in 2024. SML wasted tons of the Cobre profits on Leigh Creek, we're clueless how to monetise the asset, may here will remember JP telling SH they would be drowning in a tsunami of cash. Was really a hurricane force blast of hot air.

Now hopefully will be sold to a company who can monetise it, and we will retain 20% of the newco so if there are profits more income here, but balanced by if more cash is needed we need to stump up or divest thr 20%.

I think more than that prop. I have 7.5 million. Others like DVH who i have not seen posting for a while must have loads more than that.

What happened to Richard Corsie?

Also remember the old BOD used to get pesters here, saying John Peters only bought Redmoor to help one of the other lifestyle DOD directors, can't remember which one who was on the board of company we bought it from and had large holding.

The old BOD will also have a huge number of shares they awarded themselves with over the years. If they are currently still unemployed could easily be selling now.

While the plant wasshutdow, I assne the mining operation extracting the earth was still ongoing and being stockpiled - I don't know if the plant was at 100% capacity before the SD but with stockpiled raw feed it shpuld be now? Alos the gold production has just been deferred - not lost - and either ongoing production will be higher until the stockpiled raw feed is used, or the EOL of mine will be pushed out by a couple of months.

Would have liked to seen some news about what the 2 drill rigs at La India are doing, with some results would be good, although I think they are infill drilling on known resource. I also expect we should start extracting raw feed for the plant in 2026 and stockpiling before the plant is up and running - well hopefully. We will need enough raw fedd to get the plant ramped up to 100% for a period for commissioning.

I am 6 hrs behind UK on holiday - what a fantastic surprise to get up to this morning. Been here a long time and with the old Lefestyle BOD had given up on my substantail investment here, and now just below break even, and I had always said if I had got to 50% loss I would take the money and run after sitting on about 80% loss after SP tanked.

Changed my mind when saw the new BOD come on board and bought another £8K at 0.3 not too long ago. After that RNS today will be holding.

Really glad for alll LTH, especially the ones like DVH who kept buying and averaging down. Lets hope for more outstanding results.

I was in CNR for a long time, was going nowhere and got bought earlier this year by MTL, again once I looked at MTL I changed my mind about taking the money and running, has gone from 5.7p to 13-14p presently with more to come, so even if we get bought out by somebody who will actually mine this, may be worthwhile sticking in for the whole journey.

This is what Johnstoneo posted on the MTL board 6th Oct 10.53

"Came out of Omi few weeks back and thinking of dumping 100k here. Whats the next big news and when’s it likely to drop"

So despite all the negativity here, claims to have done well here maybe. I am waiting to see if same negativity appears over there. So far they have not said they have bought MTL.