Member Info for troutisout

From Twitter, sums it up well, apart from missing out on the disingenuous growth numbers and cover ups of certain material happenings in the past.
"#SML One that I’ve nearly pressed the button on a few times but just bring myself to. They seem to release seemingly good updates without actually getting anywhere. Raised $880k on 3rd Dec, cash on 31st Dec $830k, so fooked without issuing equity every so often, thoughts?"

Everyone has to make their own decisions when investing, the problem is they tend to be taken too late.
I have had my fair share of nightmares over the years and yet still got hoodwinked here, we all believed in the BoD, we all fell into love with the story they portrayed, however the Brenda Smith escapade was unforgivable and an eye opener and when your eyes are open you see it has been this way for a long time.

The Jackanory stories have moved to Twitter today with the Company tweeting.
They added the prepayment figures last quarter to make a strong growth statement, then take them out this quarter to hide the drop and make a strong growth statement. No wonder the CFO went...

Bitcoin,
Can you give me the name of the suppliers of your rose tinted glasses, I would like to invest in them as they will be far more successful than this Company.

To be fair they did get a PEPR in 2019 for the trial treatment of the heap leach pads, however they only produced 5 tons from that at a cost of ???

I see the 5,063,289 trader has had to rollover again (last rolled over on 22nd Dec), will struggle to get out of that trade in that volume over the next 20 days.

Will it bitcoin, will it?

Sammybow, simple logic would say that if they had responded to the SA Authorities, then they wouldn't have stated the timeframe to respond as Q!, they would have just said they have recently responded. I admire loyalty and long term intentions but infatuation will be costly in the stock markets

1. Cash balance - $833k at end of quarter. However the balance was $264k at end of Sept and they received net $885k (£651k) from the placing, so it is clear all of Cobre's cashflow from Q4 and some of the placing from last month have been used to keep the lights on. Are Cobre sales enough for that now or is this why we are seeing placings to cover the Company's costs?
2. Cobre figures - Well they roll out the year on year rise of 20% headline, but note they haven't included the Brenda Smith payments as they did last quarter to positively affect the growth, this time by not including them it shows a rise (if the figures were added as last quarter there would be a drop in volume and sales year on year), duplicitous act and one I have called out and everyone should do also.
3. Cobre figures - The quarterly figures are about average, the Q2/20 figures were higher and Q3/20 lower, no real sign of growth though, Q3 and Q4 2019, also Q1 2020 were all around 12.5k tonnage and $740k.
4. As for the yearly figures we know the Brenda Smith prepayments cloud the reality, so let's take the last year on year figures that didn't include these. Q2 2020. Q2 2020 year on year figures showed annual tonnage of 52,593 and sales of $3,114k, so these latest year on year figures are slightly down on 6 months ago.
5. The LCCM wording changed last quarter, rather than early in 2021 the line is now 'in 2021' , I pointed it out last few communiications from the Company, it has been clear for a while now. However the delay on the PEPR seems even longer than I even thought it would be, forget Australia Day, this might not receive the PEPR until late Spring/early Summer.
6. Change in CFO, wonder why that really is? Someone has been changing the goalposts on these RNSs and wonder if that has upset others?
7. Can anyone find the SML can??? I can't see that far down the road.....

You are joking bitcoin, had internet problems this morning so only just seen the RNS.
Where do we start, well we can look back at some of the previous RNSs and posts about them and learn or we could ignore all of that and grasp the forlorn hope, that Leopards can change their spots.

Capt Robert Falcon Scott was my Great, Great Uncle, not sure I ever expected his mention to arrive on the SML BB though.

This will be interesting, how will they frame the figures this time? After putting in the forfeited payments into the yearly figures in the last one, what will they do this time?
Have all the figures ready from the last 3 years, including the last cash balance, which was $264k plus the $885k from the subsequent placing, so let's see where they have got to???
Will we get more detail on the costs of new equipment for Cobre and are they now done or still to come in Seasonal lockdown?

DVH,
Having added substantially to get your average down, will you be divesting some at breakeven to lessen the risk?

This from 2 months ago, still all on track and a placing since as well, looking forward to Cobre figures....
troutisout
Posted in: SML
Posts: 1,351
Price: 0.40
RE: Re: Blue Days Ahead11 Nov 2020 21:01
I would strongly recommend you all read the RNSs about LC from the last 2 years, in fact read all the RNSs from the last couple of years and you will see the pattern SML has followed. It is one of timeframe slippage, false hope and constant changes in tack.
So what are the chances of,
1. the PEPR being delayed into next year and with the Australia Day excuse coming out again?
2. Not having a single JV partner prepared to fund it alone, hence the idea of a listing for LCCM?
3. That mining at Paltridge North is used towards developing an idea for LD/L which will change as time goes on and with many changes, all frittering the revenues away. How much free cash from PN (over how many years?) How much will be left surplus after spending to get Lorna Doone/Lynda close to production in how many years time?
4. The same posters are saying the same things in 2 years time?

Has he still got his bear ;o)

Wow LSE is normally slow, but they seem minutes ahead today, perhaps we can use that to arbitrage?

Angel,
Go back through the Company's timelines for this PEPR and each different one showed the PEPR to take less than it has, so why is that?
The SA authorities are granting PEPR's each week....

Prop you know that is incorrect, they never stated any such timelines, you and others on this BB did...I picked up on it after you posted,

troutisout
Posted in: SML
Posts: 1,348
Price: 0.375

RE: Re: Blue days ahead 09 Nov 2020 10:25
Prop,
"The RNS states that funding will be received after the PEPR - if not before;"
and that means what? You have read what other RNSs have stated and they have been proven to be far from reality, so why do you believe what that says?
You are a wordsmith, so what did the RNS actually state?
"the Board and Management are confident that funding will be sourced after the Paltridge North PEPR has been confirmed, if not before".
You know what the inclusion of terms like 'confident' and 'if' give them all the leeway they need or don't need if you look back at the last Cobre RNSs.

Prop, your timelines are slipping...

"Propinquity
Posted in: SML
Price: 0.40
RE: Re: Blue days ahead 09 Nov 2020 10:01
The RNS states that funding will be received after the PEPR - if not before; any time between now and mid-December - about four weeks.

Think it was very clear 'the major client' was using it for a fraudulent scheme.