RE: The rampers who were here when i called this short at 1.80 have gone a little quiet30 Oct 2019 20:18
I still think there is a problem at LCCM, I don’t think it has produced the desired grade results, hence no updates since May (6 months !!!!) There is no communication from the BOD because there are no good news to tell investors, hence the delay from Q1 2020 to now a general 2020. It’s delaying tactics, trying to work out, what the hell to say in next RNS. No doubt more obscure, ambiguous and cryptic messages. This is a dog of a share.
Trout, I disagree. They need to update the market. The reason why you say “SML RNSs have been met with selling and a negative SP” is because the RNS’s are ambiguous and open to interpretation, and that’s why you also say people “read so many different things into updates” because they are never cristal clear, as if if they have hidden meaning.
I have been right with my predictions this year and I formed the opinion there is an issue at LCCM - it has not produced the desired grade results, it has not been proven, hence no updates since May. There are no comms because there are no good news. It’s value cannot be established by the market.
IMO they are hoping Paltridge North is a winner, so they can mask the issue at LCCM and have some good news to tell investors, hence the reason for the delay from Q1 2020 to now a general 2020. Delaying tactics.
Paltridge North is a long way away, awaiting results, due a feasibility study and I believe waiting for license.
BOD can’t find a new client (I wonder why), BOD can’t find a JV Partner (because they cannot see a viable proposition) and then there will be more placing and further dilution into next year. If you think buying at 0.5999 is good, why not wait when it gets to 0.40. All in my own opinion
djryan is correct. You need to read the (very short) RNS again and again to see what jp is really saying. It’s just that many of you don’t want to accept reality and never take on board people’s views different to yours so you only thrive with people of your same opinion.
RE: Closing Sentence of Today’s Second RNS01 Oct 2019 07:57
I also would like to say Thank You to Fira and djRyan for your HONEST contribution and for putting up with negativity from other posters. If you don’t listen to people’s opinions contrary to your own and you always listen and thrive with people of your SAME opinion, you have your head buried in the sand and you never learn anything - you might even miss investment opportunities.
Many here don’t have a clue what “a loan recourse” really is. This is a “loan” of the potential, anticipated payment !! The RNS in written in legal jargon and many here “think” they understand it. Go and find out what type of loan is “a recourse loan” and what happens if the “borrower” fails to pay the liability. Bear in mind the value of the asset. If the “loan” is not paid, what options does the “lender” have in converting other assets for the payment.
Extracts from interview: JP don’t expect to get the full amount they claiming. Not facturing the number, Not feeling optimistic, don’t expect to get a lot out of this, but basically we going for it. Process takes 1, 2 years (my view is will take longer) Not pushing the button on legal fees, unless we are certain we can get it, but, cannot be certain, because nothing is certain, so fairly certain we can get it back. No clients. Been trying new clients. New Projects , impact operation, loss of potential profit potentially impacting the amount of cash available to advance other projects. No equity raise (impact on cash, no equity raise) Project timing to cash flow, but now it’s not the time. Rate of development may slow down on 100% owned projects imv JP should have never mentioned SIRIUS on the interview, it is NOT ethical to mention other companies, specially when he knows he cannot mention legally the Cobre client.
RE: Another placing will be needed ahead23 Sep 2019 13:02
I don’t think Nickel is being anti SML is his post at all. He is saying what could likely happen and the fact that people get emotionally attached, is very true. Many are buying the downward SP spiral and will be disappointed, because inevitably there are most likely further news which negatively impact the SP. Surprised could not see today’s SP diving in his/her charts.