Member Info for troutisout

I would really like to see someone take over SML, just to deliver the assets that are there. SML current BoD seem unable to do anything but eek out their own existence and pay....

https://www.afr.com/policy/foreign-affairs/australia-funds-tungsten-mine-to-break-china-s-grip-20210201-p56ykv

I suggest the timeline sounds like they might need to provide some more info that needs more surveying, studies done.

Lupi,
I think the timeframe (late December - quarter ended 31 March) suggests it isn't a trivial response. What do you think?

One persons positive is not always a positive to another person.
To be honest, the only positive things that posters have been going on about were volumes and buying, when it was clear a twitter pump and dump was on the go.
Now if LTHs want to use that to sell out brilliant, but to sit there telling everyone to only be positive, just helps spike unsuspecting investors on the P&D and we end up with more underwater holders...
If people are truly positive then why should someone having a different view upset them? Only over the past couple of years positive views (some of which are rose tinted) have just cost us all dear...

Sammybow,
I am really sorry you are underwater here and that you seem to have put the lot into SML.
However you are coming across as completely blinkered, it isn't Fira's fault the SP has dropped so much, that progress has been so poor, that we were conned and the BoD didn't deal with it, explain it to us and ended up costing us far more than if they had just pulled the plug straight away. He hasn't enjoyed bonuses and pay outs as they buy each others Companies from each other. I wish I had seen the light earlier, listened to the bear points, I didn't and I am down bundles and I am not going to forget that, I have witnessed completely false statements, numbers and chicanery and I won't forgive that.
You might desperately want to portray positivity to try and ramp the price up, but please tell me exactly what has changed recently to make this a better investment? Everything happening now, was happening this time last year, they may have paid consultants to come up with ideas to make the projects more attractive by concentrating on all the good bits first , but there is still no more assets to make the projects any bigger or better. It's just window dressing.
There are massive caveats here and you know that.

Wow that was nearly 3 months ago, how well they are doing on bringing this forward. They state that investment/funding for LCCM could be received before the PEPR, where is it?
Nearly everyone took this RNS to mean the PEPR would be approved before Christmas, yet they have now said they will be answering the SA Govt sometime in Q1 2021 now...

She was a Director at Godolphin mining 5 years ago and became Director of Cornwall Tin in 2015 (previously called Cornwall Drilling ltd - name change in November 2020). She has the significant holding in the Company between 50 and 75%.

Well another excuse out the way for the PEPR, 'nothing happens in Australia between Christmas and Australia Day'.
Well that was what JP told us in 2019 about the PEPR, he must have meant it for both years and we didn't realise?

So a video from Alan Broome, hmmm, how about the studies they have published especially the last one which changed the plan for LCCM.
LCCM will be producing Copper cement from PN and so don't get the full copper price, Isn't it 85% they will get from the offtake?

Troajan,
You will note that I posted the other day the Company ought to place to raise that amount, it is such a small amount why give away a large slice of LCCM to a JV partner.
LCCM, not sure they will be selling 2k t per year initially, they reckon 5k t in total at PN and although mined in 18 months will take nearly 5 years to process. Where do you get $7,900 from?
As for Redmoor I thought Capex was reduced from $89m to $86m in the 2020 report.

8 months revenue at the moment, without any production from anything but Cobre.

Early Bird, You said this,
"3 solid assets in hot commodities, funded and chucking out revenues that can wash their face with"
What exactly are they funded for? Director's lifestyle, they certainly haven't got enough to start any projects or even for more drilling at Redmoor.

Pump and dumpers are desperately trying to get it u so they can exit, they got caught.
Remember they placing shares are sitting somewhere, they didn't all go into safe LT hands.

DVH, You did take the opportunity this time, didn't you?

As most of the recent communication has been at best sketchy and at worst deliberately misleading, they probably feel it is best to be quiet.
There are far too many on this BB who are too emotionally attached to see the reality. Those outside see it, hence not yet invested, others see it as a Pump and Dump target and no more.
I

Lupi, if those sources of income are only there to keep the lights on and will need to go towards building the next project at LCCM , then it stays a lifestyle Company for many years. If they get PN up and running it is going to take 2 years and lots of $m's to get Lorna Doone and Lyndhurst up and running. That is if they can, as I pointed out previously the BoD have a habit of changing tack halfway through a project. This serves to boost the LTHs flagging morale*, but they haven't yet managed to come up with a successful plan that yields profitable production at LCCM. The proof is in the pudding.
*Most recent example is the new plan for copper sulphate at LD/L

Prop,
We are sitting on inferred resources that can be valued at that, but we need to finance more drilling to prove that up and to complete feasibility studies. Then we will need to find $89m to start the mine.
Quite obvious that SML can't afford the former let alone $89m, so they will need to sell or JV, however a JV partner would want SML to put in to their % or they would want to take more. I just can't see SML ever getting round to doing any of this, so I can only see a sell out as a viable option.
Then the question is what for? Only it is public knowledge what SML paid for it and, that they clearly will never be able to go it alone or even pay a large chunk of the costs, so what would another Company offer?

Would all of those stages come into the Capex figure or are they costs before and Capex figure is from/for start of mine?

Lupi,
Inferred Sn is 0.16%, that is what I was trying to get at, the Sn equivalent isn't all Sn, in fact majority is Tungsten and then Copper.
So although your $400m figure was close to the tin element your method of calculating it was adrift, as you used all of the metals as they quote a Sn equivalent on a value basis.
However for all these large numbers the NPV of the project is still $94m.
In other words when all Capex, Opex and Recovery is paid for the project will make $94m to the investor/s who back it (Not sure if that is pre tax?).
I like Redmoor, but it is rather out of the BoD's league and so suspect SML will sell out to a bigger entity, take the cash and maybe with a small ongoing royalty. What price would a big entity pay?
If they JV, what share would an investor require to stump up the $89m Capex, what would be left for SML 10%, 20%?