Member Info for troutisout

Well there is a lesson learnt, never tip your shares to friends....

As 1 and 3 are tied together in other ventures, surely they nullify each other out and therefore you end up with the mean of the 3 which is 'tolerate' them, which is all they need shareholders to do to keep the status quo. They are doing fine out of this at the expense of the other shareholders.

~You have read their Interim Report and the change in parameters for businesses they want to invest in?

There is bound to be the churn of Placing shares that has always been a feature, this is likely to keep us at these levels for a lot longer and actually after the last placing we saw the SP dip lower still and hold there for weeks.

Obviously not got an answer then....

Bitcoin, It is you that needs to take a deep breath and stop the ramping, by the way where is your 3.33m buy?

Bitcoin, how long has Leigh Creek been open to mining? Do you not think that if there were gold they would have found some and shouted about it.
Your ramping has got to extreme measures if this is what you are coming out with, you do realise the BoD have history in changing tack at the drop of a hat, don't give them a chance to do so again...I can just see it now, Copper at Leigh Creek mothballed so the company can take the opportunity to explore for gold in them thar hills....Rather than we haven't actually managed to attract any JV partners at LC due to lack of feasible operations and proven yields.

Bitcoin, anyone can say I am going to invest £133,333 and if the SP 7.5 bags I will be a millionaire. They can say that on any share, the important thing is whether it is actually going to happen.
Also what is going to happen in the meantime that could dilute the value of my holding and make it harder to get to the final SP. Each placing adds shares and dilutes current holders, your additional 3.3m will only bring your holding back to pre dilution levels from just this last placing, but the value the Company now needs to hold a 3p SP is now higher.
Currently that would mean a £57.3m valuation, but of course if the price was anywhere near that the warrants would be exercised so another 175m shares and it is inconceivable that this will be the last dilution of holders or reduction in assets due to JVs...

Less than we were. Equipment wise, I cannot see how they need that much money for new equipment and not known about it previously,I suspect they thought a JV might have been signed and the cash from that could have been diverted to cover these costs.
My other thought is that the equipment for Cobre is a bit of a masquerade and they just need 'more keep the lights on' money, but 'equipment' for Cobre sounds more acceptable for PIs

No response to my last email, surprise, surprise, Red Flag....
"Thank you for your reply John,
Having kept the $750k out of all previous RNS sales figures, to add it here in the RNS was very confusing, I am glad that you have made a change to the RNS to make this clearer.
The new RNS still includes the statement "Sales volumes at Cobre continued to grow strongly in the September 2020 quarter".. Can you please tell me how you can see a growth in sales volume in the September 2020 quarter? Both tonnage and revenue were down in the quarter against all of the previous 4 quarterly figures, so how can there be quarterly growth??
Finally the RNS states tonnage for the year is 60,250, when the four quarters show Dec'19 12,202 - Mar'20 12,953 - Jun'20 14,733 and Sep'20 10,987, which total 50,875.
So it seems you could be using the tonnage that wasn't delivered to the main client in the recent September 2020 annual figure. If you are, then why wasn't this pointed out with an asterisk? Especially when the note below mentions sales figures (which has an asterisk), but not the sales volumes. If this is the case the the Company need to be very clear about this fact.
My understanding is that the $750k amount includes a deposit and 3 x payments of $125k made quarterly by the main client, these were forfeited when delivery was not taken 3 months after the payment date. If I am correct then should these figures not be added in over the quarterly periods when they became forfeited? Can you really add these to the tonnage figure?
Can you please explain the above to me, because it really doesn't look very clear?"

You may remember the posts and emails with JP I had over the last Cobre RNS and it's replacement.
The reason for it was that they had added in $750k of income for Cobre in those figures, however the cash was received and spent ages ago. It was enough for the BoD to rather disingenuously claim the last quarter saw a rise in Cobre sales, it didn't they were lower than the year on year figure and the previous 3 quarters, it was the worst in the last 5 quarters. Yet they claimed that sales were going up and some accepted that.
Please open your eyes and realise the sort of things that have been going on. Your investment is yours but Caveat Emptor, there is enough history to be wary.

Well lots of the rose tinted posters have missed what was staring people in their face. Another placing was on the cards, the cash position was too low. The concern should be that they didn't raise more as they are going to need more going forward.
I certainly don't think this heralds an imminent PEPR and stand by my thoughts that will not come to 2021, it also suggests a JV for LCCM is not currently in massive demand, as they could have agreed that to get funds for Cobre in any JV.
As for the warrants nothing positive there, they do not have to take them up and so they are a one way bet and are often only agreed as Placees want them or a lower placing price.
DVH you should have cut your holding a little while at breakeven as you said you would.

Bitcoin, 'nice buys'?
They look exactly like two £5k Bed and ISA/SIPP transactions.

Surely that's a rollover...
LSE trades are delayed and been getting worse at glitching and being stuck, before unwinding later. Good for dates of trade/cancelled trades, but other BBs have better reporting of trades as they happen.

Hey mate,
Sure they can do some things from home, but they can't do everything from home and this lockdown is immediate, no time to plan. As for Summer, they have very few cases in SA but as per previous outbreaks their response is severe, however as we know here a couple of weeks lockdown is not enough to stop the growth in cases of people that have been infected before they show symptoms.
Try reading my previous post about the potential workload of the SA mining authorities at the moment, anyone would think they only exist to do SML's bidding. Check out the interview again from 4.30 in, don't tell me that is an answer to the question about timeframe for the PEPR, he points out that in a couple of weeks from then the SA authorities will be coming back with feedback, they then have to respond and the process goes from there. Watch him squirm and look at the response when he tries to explain when work at PN might start, I am sorry that is not someone who is very convincing and with the historic lessons we have learnt from holding here, it would be a brave person to think that a PEPR is anywhere near happening before Christmas (that is before this news of lockdown there). Anyway hear for yourself 4mins30secs in,
tinyurl.com/y22kdbsc

I sense a few old investors re-entering and others needing to try and make everything sound positive (unfortunately we need more than a few rampy posts to make this re-rate, we can't do it, the Company has to prove itself)
In the real world South Australia has gone into a lockdown initially a 6 day strict lockdown (followed by another 8 days of lesser rules), in their lockdown people can't even leave their homes for exercise. That would seem to signal the PEPR will not be happening this side of Christmas, especially if the Company need to feedback more information.

Morning Geeforce,
MMs shut up shop on the offer, need someone to fill or kill or limit buy the NMS, to move them up.
Tuckman, I reckon we will see more than one deal in the near term, hopefully one very soon. I reckon another Liverpool based project along the lines of the other two and something out of the box for Investors to get really excited about

Looks like it....

ebygum,
How about you looking back at the previous guidance on this PEPR over the last year plus, you can then answer your own question.

Didn't he say in the last interview that more feedback was going to be needed, the SA govt would be asking for this around now? They will have to get their skates on to get it done by Christmas. Everyone seems to forget the commodities boom has probably meant lots of PEPRs have been submitted all over South Australia, so all sorts of resources will be stretched, consultants, local government will all be very busy.
Patience....