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There is no denying, SML has very strong fundamentals, is well positioned with outstanding resources.
https://www.proactiveinvestors.co.uk/companies/news/213174/strategic-minerals-makes-big-strides-in-advancing-key-projects-213174.html
DGR,
yes, my dream come true. Today bought at 1.44
Now I can buy at 1.3999 Very tempted. If I just knew what is round the corner.
I just have a gut feeling that the major client issue will be resolved.
Another scenario, which is possible, just does not add up. I which I was JP’s Chief Negotiator, in the scheme of things as major global corporations go, 4 mil is nothing, so if general people (which I know many) CAN negotiate deals of billions of dollars, I am certain that the 4 mil will be resolved.
What do you really think ?
If I get a chance to buy at 1.40, I will buy my last large chunk and it would be my last buy.
I am well loaded here. Like someone said, fast forward 6 months and as LTH, SML is still an excellent investment, short, medium, long term. ATB to all LTHs.
Fully agree with Slurm and Stockdale comments, I have been saying this all along as well.
This what it’ called Negotiation. We want a Win / Win for both, major client and SML. Both want to avoid a Loose / Loose scenario. Let Negotiations continue.......
I did not expect the current issues we have with major client to be resolved with one RNS for Q2.
Investments being made in the right project, Redmoor updates towards end July,
Everything going in the right direction. Looking forward to next RNS.
I received a response to my 2nd email from JP. My interpretation is that JP is pulling all stops and negotiating with the major client, trying to avoid litigation (probably an understatement).
I think the sp reflects the us$4m. I truly believe an agreement will be made between the major client and SML where both sides benefit. These are my views.
I must say I am extremely impressed with the turn around response from JP to my emails. JP replied within hours of me sending the emails. Just shows how good the BOD really is.
Happy to share the initial response I had from JP.
Well afterwards, I sent the following to JP because I felt it was important, my message was:
Dear John,
Thanks for taking the time to answer my queries.
Regarding Major Client I feel SML / We should serve them with legal action
so they know we are serious and mean business. They would not want their
name to be out, because litigation could affect their
other deals, but we need to be firm with the client. I think we have been
pushed around and they have been taking advantage of us.
Could you kindly, please let me know what is the final date which they must
pay ?
End of my email
What do you think ?
Reply from JP below:
As you can appreciate, I can only respond with items that are already in the
public domain.
MAJOR CLIENT - The amounts referred to in the recent RNS, of just over US
$4m, have not been reflected in the accounts to date and therefore would not
need to be written off. Any concrete news on the major client will be
disclosed to the market via an RNS. The name of the client is protected
under confidentiality and if we were to disclose it to the market
prematurely, this may open the way for a countersuit. As previously
disclosed, we are preparing paper work for a claim of lost profits should
payment not be forthcoming. Having successfully sued in the US, in relation
to the rail contract, I understand the process can be lengthy and needs to
be well thought out to minimise the potential of a countersuit.
NAE REDMOOR - As recently advised, we are working with NAE on the settlement
and expect to make an announcement once documentation has been signed off.
Once this has been settled, Cornwall Resources will be 100% SML owned.
Currently, there are no outstanding results to be published in this area.
COBRE - The results will be published in line with our standard procedure
which is usually the middle of the month following the end of the quarter.
LCCM -
a) Current production is a treatment of existing heaps and will not
continue for long but demonstrates the ability of the plant to
process the major supply expected from Rosmann East and Paltridge North,
probably commencing Q1 2020.
b) There is no capacity to increase production here at present.
SML General - The company is run in the best interest of all
shareholders. As you are aware, Peter Wale and I are the second and third largest shareholders in
SML and have no desire to see a lower share price.
Regards
John Peters
Managing Director
Strategic Minerals plc