Member Info for troutisout

Prop have you been in stocks that have gone under after bottom hugging and repeat fundraisings?

Below from the May RNS, as I understood it they submitted a draft PEPR then, it would be reviewed and any further info would be requested, then when that was submitted there would be an answer. We know they were asked for more information on water, which they were going to respond to. Yet now they say they will be a delay and then they will put in a full PEPR application. Not sure if it is just me but they seem to be bamboozling us again with their confusing guidance. It does seem that they are using delaying tactics (which isn't a surprise to LTHs).
As for the rest of the RNS they seem to have realised that the LD/L part on the PFS didn't have real costings (go back and look at them and see the confusion in the PFS), so they are having to do that again. They are doing a workover of the whole PFS to see if they can make it more attractive and they are looking at a different way to extract copper (is that an admission the existing method is still untested to the levels of production they want to do.
All in all more of the same and quite scary that they think this will suffice, definitely need new blood on the BoD. The scary thing is delay only favours the BoD, as they continue to milk their lifestyle from the Company coffers....
"The lodgement of the draft PEPR is an important step to full re-opening of operations and producing copper at Leigh Creek. The general regulatory process for a licence to operate is for companies to lodge a draft proposal which is circulated to relevant departments within the South Australian state government. This process normally takes around two months and feedback is then addressed/incorporated into a final PEPR lodgement. Generally, the process takes around three to four months from lodgement of the draft PEPR to the granting of the approval."

A couple of the sells this morning were buyers from last Friday selling at a loss....

It's more nuanced than that Ian, DKE bring together the financiers and the long term users, they do project manage the job, but they use other builders/developers (they are the ones who will have the margins that you are talking about).
DKE take stage payments for the Project Management, but their profit on the project is also based on the financial deal they have secured.
Wavertree RNS this morning states practical completion of the project and handover due on the 4th September, I am sure we will hear more from the CEO on the future shortly, suffice to say there will be more of these smaller assisted living projects but also much bigger projects in the Care, Education and Distribution sectors....Watch this space....

Patrick,
I do own stock in the Company and once held nearly 2% of the stock, so not sure where you get the idea I don't have stock, someone else asked me and I answered. Does it upset the narrative if actual holders aren't going to hype it so some traders can try and make a quick buck?
From these levels every rise will see not just the traders try and take some profit, but longtermers try and escape at breakeven or at a reduced loss. Having held here for some time, the spikes don't come around that often and without them the SP drifts. So will we see a change in the fundamentals? I suspect not for a while yet....I think many of us have lost faith with the current BoD and personally I think the court documents noting the contact with Brenda Smith was damning....

Patrick, I am amazed by the amount of people that call someone else "a looser" on these BBs, yet you have come from a different angle and talk about my loses and that I sold out for a lose. Incredible, you have made me chuckle....
The current SP may look cheap, but that is for a very good reason.
You say, 'if you get something for nothing you are taking it away from someone', so think about this SML have nothing in the bank, they have a project in Australia, that they have managed to book 5 tonnes of copper cement from, the previous mining there managed 425 tonnes in 2 years before they offloaded it, to someone that then didn't bother to try and mine but offloaded it again. In short they need someone to take a large leap of faith to believe they can produce at the numbers they suggest, when they have no evidence of such. That potential JV partner will have to foot all the finance to get the project started and that has gone up hugely from $1.8mAUS to $5mUS (note the change in currency). So are they going to give SML something for nothing, or are they going to extract the best deal possible to take on those risks??? The people who have been forced to give away something for this finance will be us, the shareholders, the BoD will always draw their salaries and bonuses, shareholders will watch as more and more of our company is traded away to keep the dream going.

Not sure he was telling you to sell up and move on, maybe you are being a little bit defensive.....
I think your reaction to such posts belies your stated confidence in your investment. Fira will be here far longer than any of us, unfortunately we have the BoD to thank for that.....

Hi Ian B
DKE are not a house builder or a construction company. Try their website http://dukemountcapitalplc.com/

I also think your margin for GFRD is for their construction side, the other two sides have far higher margins, their construction side has lower margins but high regular cashflow, that helps the group keep all the areas working

Actually it is a review of a previous report, to make it more attractive...

Not sure that much has changed, they say there is demand then employ consultants to increase the demand??? Great to see that they can#'t do it on their own, even with such esteemed Directors.
Pay the same company to look again at their last report, tweak it so all the good stuff is concentrated on first and increase the numbers to make it more attractive, yes looks like the interest is really good, that's why they are having to pay to sugarcoat it.

That same poster I referred to earlier hasn't posted at all about SML anywhere since the large sell this morning and to think British Bulls said 'Stay Long'

I thought I asked a couple of sensible questions, only I wondered if you knew something that I didn't. Your response was rather off, but I suppose it just showed that your sentiment was more hollow than factual.....

Yes and I have an in depth knowledge of the Company and it's projects, You?

What do you call 'the very near future'? Why do you think we will see a rise without something meaningful to back it up?

Now who started posting on twitter, advfn and LSE soon after that trade on the 19th August???
Watch out, you don't want to be the ones holding as those that engineered the p&d sell out.....

'Easy to tell'
Those that have already started to dump the shares, when they go missing from this BB.
3,359.483, bought 9.25am 19/8/20 £13,438
3,349,483 sold this morning £13,522
A grand profit of £84 less dealing costs, seems a lot of capital to risk for a meagre return....

;o)

Strangely the stock has been bashed by the BoD, however the LTHs know how damaging a pump and dump can be, so don't want the gang dragging in newbies under false pretences, as when the gang have sold up and then the newbies sell at a loss, the SP hits new lows and any subsequent newsflow is treated with disbelief. Really doesn't help LTHs.
Now if some new posters posted credible information then a debate can ensue.

That requires lots more work to get just to a PFS, estimates were £89m to get into production....What sort of % are SML going to get from a JV, when they haven't got anything to put into the pot.
There is a pump and dump going on and a few investors seem to have jumped on this share because of the copper and tin, but that is firm;y in the ground and will remain so until the Company has got a JV partner in, but there is going to be a Worldwide recession of the magnitude we haven't seen for decades and so I don't see those with the cash to invest being very generous with their offers when it comes to a JV. I would wait for SML to get desperate and then offer to buy the whole lot for what SML have spent on it, which is about £4m....

patrick, what hurdle are they crossing at the end of the month? Giving the SA Authority more info on the PEPR that they required?