Member Info for troutisout

Yes the shake has been a bit extreme now, 64.4p to buy. I suspect some will be buying into that drop...

Unfortunately looking at the new RNS and the figures within, I am afraid another email has been sent to ask more guidance on certain things which seem incorrect.
Will await reply before commenting further....

I have received an email from JP (after the RNS). I have been working outside today so haven't had a chance to look at the new figures, but I still feel they are still trying to pull the wool rather than be honest to the market. I am down a small fortune here and always felt that the BoD could be trusted and were honest to shareholders, but they have lost that trust now...

Gorsuch, I was trying to say on a Sep qtr year on year basis, qtr v last qtr, qtr v ave of the last 4 qtrs, in fact any basis apart from saying this Sep qtr's sales showed strong growth on the Jun 2019 figures (that was the last time they were lower....)
The statement was not true and they still made it, couple it with the added $751k sales for the year that weren't sales in that year then you can see how outrageous the claims in the RNS were....

I think that is exactly what JP used to say about Brenda....So while we await that what are your thoughts on the comment in the RNS that states
"Sales volumes at Cobre continued to grow strongly in the September 2020 quarter,"
When it clearly is below the figures for Sep '19, Dec '19, Mar '20 and Jun '20, the above statement is not true on any metric...

Bitcoin, just add up the figures. They don't add up! There is a difference of $751k and that according to JP who will look at it more tomorrow, is that it is the Main Client money. So they don't make that clear in the RNS in fact the bit I posted earlier almost makes us think (it obviously still does you) that they is no major client money in the latest figures yet it seems it is all in there to inflate the Sep year on year figure and grab a headline.

DVH,
It does seem that is what they have done, a quick look at the last 4 quarterly RNSs to Sep 2020 will show the sales of $713k, $764k, $881k and $632k, which totals $2,990k, they have added on the Main Client Cobre deposit and the 3 payments of $125k they received to make the sales figure look much higher at $3,741k and laud it with a 55% growth year on year headline to the RNS.
The truth is the real growth in that period, for real sales in that period, is much lower and that September's figures were lower than all the previous 4 quarters so could not have shown strong growth.....

Bitcoin you don't understand, they have always taken out the prepayment figures to allow comparison, but the yr on yr Sep figure of $3,741k may include the $750k deferred payment as it was recognised as income in 2019, however the money should have been recognised each quarter as the requirement to deliver Magnetite lapsed, so it shouldn't all be lumped into the Sep income year on year figures. The growth in sales that everyone has taken as like for like are nowhere near 55% if you take out the $751k that SML have had added to that year for previous prepayments/deposits.

I have already done so and received a reply, he will look into it more tomorrow, but suggests it could be the $750k from Brenda.
So money they were given in a previous year and has been removed from previous figures for comparison purposes has been added to give a 55% sales growth figure for the last 12 months, that has not been made clear and the RNS actually states "* For comparison purposes, US$0.75m forfeited by CV Investments LLC ("CV Investments") has been excluded from sales figures." for the 2019 12 month figure.
I have been around long enough to see some financial chicanery but this really concerns me, they seem to count this money and remove at will to massage the figures and give them a headline.

Thank you for the email addresses...
What do you think about the figures in my post? I have gone back through the last 4 quarterly Cobre RNSs and written down all the figures, the total for the last 4 quarterly sales does not add up to the 12 month sales figure given, the figure lauded in the RNS seems $751k more than the actual figures totalled. What do you think about that?

Has anyone got an email address for Peter Wale?

Have they mistakenly added Brenda's $750k to the totals, having taken them off previous quarters for reference???

For me the latest Cobre RNS stated two things that are red flags,
1. that they deferred paying the US tax as a deferral was made available due to Covid, however the truth is with cash of $351k at the end of March, they did not have the cash at the time to pay that bill. That is not how they tried to spin it and they were being disingenuous about minimising the placing for acquisition from NAE, as it is clear that the placing also paid some of that tax liability.
2. They claimed "Sales volumes at Cobre continued to grow strongly in the September 2020 quarter," when it is also clear the sales were down on Sep 2019 and also from Jun 2020, so they didn't grow strongly in the Sep quarter, yes they say year on year figures are up 55%, but the Sep quarter saw a reduction in sales. RED FLAG!
So go back to the figures they have given us, please all check this,
Dec 2019 - $713k
Mar 2020 - $764k
Jun 2020 - $881k
Sep 2020 - $632
Total = $2,990k
So where did they get $3,741k from and that rise in year or year Cobre sales? Going back through the last 3 years the totals always roughly add up to the 4 quarters, all except this one???

Into the close as well....

what many good news?

If you were treated in a Nightingale hospital, then surely you will already be infected...

tinyurl.com/yyjpd9lg

https://www.inspiration-healthcare.com/news/articles/inspiration-healthcare-will-be-presenting-via-the-shares-and-aj-bell-investor-evening-webinar--8th-october-2020-98

Sorry just realised they were from yesterday...

The sells at 62p are below the recent placing price, so if it is Miton they are not selling for a quick profit.