Member Info for troutisout

Patrick,
Also Leigh Creek was meant to cost AUS$1.8m to restart and that included the moving of the plant to another site, they have got the plant back up and running and will now not be moving it, yet they require another US$5m to get mining. Even the pre feasibility study from November last year had US$1.77m start up costs, so why are these costs growing so much and after we have pumped in a lot of money already.

Patrick, the Company is not in debt, but it's income is not great enough to actually move forward. The sad thing is that just some of the large shareholders here on this BB have paper losses from the last 14 months that could fund a drilling campaign at Redmoor or even going a long way to restarting LCCM. However rather than being upfront with it's shareholders and pulling the plug early on Brenda, they prevaricated and spun the situation while the SP plummeted.
Shareholders worth has dropped immensely which on turn affected the value that funds could be raised at and most importantly the type of people they would get finance from. These large sellers and the overhang are due to the type of 'investors' they had to go with to raise the last tranche of funds.

The 'buys' were gradually going down in price which generally means there is a larger sell being worked and they are trying to encourage more buys to fill it.
The higher closing price was due to the auction at the close, which is something unheard of for SML, and the UT trade that uncrossed that forms the closing price. will go back to 0.375p on opening if the spread remains the same tomorrow.
Large volume going through, although not large amounts of money nowadays.....

Prop, you morphed into yoda at the end of that last post....

.....and I suppose even more so, now delayed elective surgeries and the reported 10m backlog, now need to be worked through.

IHC, retweeting this post from 3 months ago, looks like demand is still soaring.

https://www.clinicalservicesjournal.com/story/32782/demand-for-air-free-patient-warming-technology-soars-in-response-to-covid-19

Slurm,
Trout baiting you, that surely is just for fisherman.....

Leigh Creek Copper Mine Pty Ltd is a registered company in Australia, if someone JV's with SML for LCCM do you not think that they will want Leigh Creek Copper Mine Pty Ltd shares to prove their part ownership of that project? So is SML's share holding diluted if they issue more shares for this?
Finally you seem to want everyone to desist in negativity to try and get new investors to buy in, not really looking very 'moral high ground' that, especially when it is clear many current holders are looking to sell into any rise to leave the newbies holding the baby.... Not sure if that is your plan....
Surely it is up to the Company to actually deliver something, rather than it's shareholders to stop mentioning their rather poor performance of late.

This was in the Genedrive placing RNS, note the projected revenues for this test.

"Antibiotic-Induced Hearing Loss ("AIHL")
Around one in 500 infants carry a genetic mutation that's puts them at risk of suffering lifelong profound hearing loss after exposure to gentamycin, a commonly used antibiotic. genedrive has developed world's first rapid point-of-care genetic test for neonatal intensive care. There are no other point-of-care tests commercially available for AIHL and the Directors believe genedrive's test could support a new standard of care for all urgent case infants.

genedrive's AIHL test has a high clinical accuracy with 100% sensitivity and 100% specificity. Implementation trials for the test are progressing at Manchester and Liverpool but, as announced on 25 March 2020, have not been able to continue at the same pace as previous months as a result of NHS resources being diverted to address COVID-19.

On 24 April 2020, genedrive announced that it had entered into a distribution agreement with Inspiration Healthcare Group plc for the distribution of genedrive's AIHL test in the UK and Ireland. The Directors estimate the UK and global markets for this test to be worth up to £3.5 million and £35 million per year, respectively, to genedrive based on a price of £2,000 per Genedrive® unit and £35 per test."

Safy, I couldn't find it but I am sure there was an interview where it was mentioned that IHC would work towards getting a recommendation from NICE to use the test as gold standard, this would be done in line with the studies ongoing at the moment. I can only think that Genedrive are using IHC as they do have a good network of contacts/distributors that they already sell equipment to, the acquisition of SLE adds even more Global spread, so after the UK and Ireland, the rest of the World beckons....

Slurm,
I do know when the last PEPR was submitted, what it was for and which areas were affected and it was the 7th revision and anyone can read them all with a little research.
I knew the dilution thing would get you going, you seem more interested in semantics than actually losing your investment. The recent placing indeed brought share dilution, but the same thing could happen here with the Company's share of it's projects if JVs want more share of the project and it's revenues then there will be dilution in the project for the Company (if a proposed 50%/50% JV ends up going 60%/40% in favour of the JV partner because SML has no other options then SML's position is diluted and therefore as shareholders that affects our investments).
I have tried to be quiet, but I am absolutely livid with the way the Company handled Brenda and therefore presided over a massive loss in value and then paid themselves handsomely for it.

Slurm,
If people want to vent their anger here, is that not the same as those who have asked questions here knowing the BoD do look in?
There are enough people clutching at straws, either way. The reality, in my view, is current history is important as a guide to the neartime future. So has LCCM actually become a proven producer for SML? There are several previous PEPRs for the areas around the prospective sites that have been approved, so why has this one taken so long and needs more info? Will the Company need to raise again, prior to JV being signed (I don't see a JV for quite a while yet)? If everything was so rosy then why didn't we see new large investors come in on the placing and why the sell off post placing (bucketshops)?
Did we finally see dilution in your eyes? Because it seems to me there will be a lot of 'dilution' in my eyes with possibly more shares being issued and certainly with JVs that in effect are reliant on all funds coming from the JV partner. This will surely mean SML aren't in the best position to get top dollar in the JV agreement further diluting our position as shareholders....

Dvh, I was going to mention that earlier but too hot to worry about 17 minute traders, but WHY? Fish and Chips I suppose, but always risky to trade this one and as you say stamp duty as well to pay as well.
Trout.

I have always took it as IHC would distribute the test to UK and Ireland. They would both market the product at launch and IHC's contacts would be able to help this test become the 'Gold Standard' and I also remember seeing something about IHC would work towards NICE guidance to use the product. Obviously there was mention of further distribution through IHC's International network and this has just got much bigger with the SLE acquisition. This from a month ago from Genedrive,
"
Despite some initial concerns around the impact of lockdown on the Antibiotic Induced Hearing Loss (AIHL) project, the NHS evaluation programme has continued to run during the past few months. After a slow period, the programme pace has increased somewhat as lock-down measures have eased and the Company remains optimistic of completing the project and achieving the Autumn 2020 timeframe for commercial launch with Inspiration Healthcare Plc."

Interview with CEO here, all sounding very positive, the 30% rise was LFL and doesn't include the NHS ventilator contracts of which £2m have been delivered in H1 with £3m to follow.

https://t.co/9P2uGnB7Me?amp=1

I hope you got a few more, as it looks like others are after them now.
I think the ambiguity of the statements and lack of understanding of what market expectations are led to a panic sell off yesterday, now the dust has settled I see more investors buying in to the IHC story.

It's not the results that are expected, but a trading statement post H1.
The figures will be interesting as they have said there were good sales prior to and during the C19 outbreak. Not heard anymore about the last NHS ventilators to be delivered, so looks like the £5.25m sales figure will be split between H1 and H2.
Going forward looking very positive and well worth building on any investment here.

I think they have been busy integrating the new acquisition.
I expect to hear more about receipt of the outstanding NHS ventilators and we should get a Trading Update for H1 in the next fortnight. I have used the drop in SP to add a couple of times this week, I am happy to keep accruing as the BoD seem very capable and the Company's products will always be in demand.

Indeed and today seems a day of rollovers and transfers.
Today's RNS is odd as well, why did Miton buy in the placing and then sell some of them yesterday at a loss?

So what Slurm?
They were taken in on investment scams, SML were taken in on an offtake contract, where it was obvious they weren't taking the product or paying for it, then the financial expert , did nothing but believe calls and texts saying' it will be with you tomorrow'. My major concern was that by waiting and waiting and not standing up to her, the damage done to the Company was far worse than would have been if we just severed ties with her.....

Have to say I watched the Q&A last night and was far from impressed, there seems to be no contrition, just a doubling down on why they deserve what they got. To hear them talk about shareholder value again is beyond belief, they have presided over a fall of 75% in SP over the last 14 months, which has wiped out any shareholder value, especially as they have had to recently raise at 0.45p and diluted all LTHs into a position they are never likely to recover from.
Any JV partner will play hardball when they know SML doesn't have the funds to go it alone, LCCM under SML still hasn't produced from the areas of the PEPR and so there is still a large risk for any JV partner.
Not one word of remorse about being held hanging on a thread by the Main Cobre Client, how they handled that and how gullible they seem to have been throughout the process. Any businessman (especially one lauded for their financial nous) should have realised very early on their was a deeper problem and sorted the situation earlier. The mishandling of that situation has cost shareholders dear, yet they ignore it.