Member Info for troutisout

So here's the rub,
Fira is pessimistic, he claims he holds at 1.73p, if he is pessimistic why hold the share?
"Why sell at a loss" I hear people say, but why hold a share if you are pessimistic?
Remember Fira claims he has always been pessimistic and so perhaps should have sold when he was in profit.
Makes no sense, just another BB deramper.....

Fira, You cosied up to everyone when the SP was on it's knees, but now the SP is rising your true self has come to light again. You are just another BB deramper!

Slurm, I was unaware they were married to my Wife.....

I assume they are using copper (or copper cement) from another source, but further afield and our copper cement will bring savings due to lower transport costs and maybe the reduction in price for copper cement over copper.

Hawkmoon,
If they want it that badly then that would be great, as a potential upfront payment would facilitate it......

I find myself agreeing with you Antofelli,
If the scammers hadn't come up with the Alerion scam and pushed it through, then there would never have been any Alerion investigation and valuation costs and the legal fees for an EGM. So they are to blame......
Perhaps if they had concentrated on the businesses and paid their loan payments on time, there would have been no need for liquidation

dvharrison and dotcom,
So you don't feel it is worth selling at these levels, but you still want to turn up and slate the BoD
/progress/who's at fault.......
I suggest that you haven't done your research, this is an AIM miner/minor and you have to understand that.......
Enjoy Christmas and look forward to the New Year

I think you two need to re-appraise your investment here or have you already?

I wonder how many others would be happy to have their pay relate to the profitability of the company they work for?
This BB does make me laugh sometimes...
A BoD works even more when things aren't going their way, if anything the current BoD tried too hard to appease shareholders with their attitude to dilution, maybe they should have been placing away when things were going well and stacking up the cash that was always going to be needed for the start up of LC. Remember before the change of plan to start mining at Paltridge North and Rosmann East they were going to re-locate the plant to Lynda and Lorna Doone, that was always going to take several AUS$m's why did certain posters think it was going to restart for peanuts???

Prop was the Cobre income in US$ if so, it which would be higher than AUD.
I also wonder if the loan that the company received on Friday 27th September was in the 30th September figure.

Fira,
You seem to have been demoted to hanging off djryan's coat tails, I thought you were better than that.
I posted last night an episode when djryan was reading out of the rampers' book, he has put that down and picked up the bashers' book (reasons for this, probably as I posted earlier)

Well it seems you can't control yourself at the moment, now is that because there have been some positive developments and you feel the need to pour cold water on them to try and pressure the SP?? Or as I increasingly suspect, you have sold out and become one of those bitter ex-investors that then spend the rest of their days slating the Company.
I am happy with the rebate news, we didn't have £248k beforehand and now we do, that is positive. I could take issue with your guesswork on cash figures but not really worth it, you have come unstuck many times with thinking something is 'x' when it isn't and I am sure you will do so many more times......

They say not much changes but it obviously does.....

"djryan777

Posted in: SML
Posts: 5,961
Price: 1.725
No Opinion
12 Jun 2019 16:27
Majortennis
I’ve been on a journey at my beginning of my investment and did get jitters and question things. Fellow board members and my own research gave me confidence along with the board of directors and progress. I constantly evaluate my portfolio. What I can say is I’ve been accumulating for a long time now and been riding the bumps.
Times flying and I’m loving supporting this project and won’t be going anywhere. If my Easter next year we have only produced 10 tons of copper then I maybe might start to question things !
I always said I’d post when investing. I was going to leave it till July but decided to take the opportunity to increase.
I might not be everyone’s cup of tea but I am heavily invested as I believe 100% in the direction of travel here.
I shall ‘pipe down’ now :-)
The only time I’ve changed my mind in the last year is to buy more when I said I was done. Sorry for been greedy. If I’m guilty of toying with my holding in the early days then so be it.
SML is u unique in that it genuinely does things with great communication and thinks of us small PI’s
I am invested in the people as well as the projects and what a team we have of professionals."

Fira were you admitting defeat in that post?

DVH Not sure I am defending the BoD, just don't think that people here are able to make assertions if they haven't got all the facts themselves.
I agree the major client default has created a knock on effect, that has affected all of the Company's projects. Although I think it was the possibility of a $4m payment affected all of our judgements (BoD included). Clearly receipt of that payment would have paid for Redmoor and got LC off the ground (to a certain extent).
However LC has seen several things happen that have meant the timescales have changed. In February the Company submitted a PEPR, that was a further revision to a previous PEPRs from the year before. As they have carried out more work on the drilling results they have moved from going with Lynda and Lorna Doone first to Paltridge North and Rosmann East. This is a business decision they have taken and should be advantageous for all shareholders, but requires a shift in the timescales as can be seen below in April's PEPR
.
2.2 Care and Maintenance
• Will occur immediately post the operational phase.
• The offices, workshop and laboratories plus the processing plant will be moved to ML 5498
(Lorna Doone).
• Will monitor and maintain constructed surface water management structures.
• Will monitor and maintain remediated areas.
• Progressive rehabilitation activities will be to conduct rehabilitation trials on the leach
pads:
I. To determine if mine waste armoring is required to provide a stable landform.
II. To determine if the spent leach pad ore will revegetate without the addition of
mine waste.
2.3 Final Rehabilitation and Closure
There is a potentially recoverable resource on the lease (Paltridge North) which maybe economically feasible (depending on Copper price) in the future. Closure activities will only occur after this resource has been mined (which will require a revised PEPR) or the company has
decided to not mine this resource.
Mountain of Light ML5467 – Bulk Sample Heap Leaching Trial, Care and Maintenance, Closure
Rehabilitation of the leach pads, waste dumps and previously disturbed areas other than the access roads on the lease (these will be made available to the owner of the area on relinquishment of the lease) and post rehabilitation monitoring will occur before mine closure and lease surrender.
If based on results from the proposed exploration drilling and copper prices a decision is made to mine the site in the future, a revised PEPR will be submitted for approval.

The clue is in the name, but I am still here swimming in the murky waters of AIM. I learnt a long time ago if you are going to take the bait and then spit it out before getting landed....
Quite clear who is talking piffle if you don't concede that they must have been producing during the testing they have done and continue to do.

Fira,
It seems your only reason for posting is to bait people on this BB. Perhaps it's your age or a predicament.....

So they did produce some copper cement almost immediately after the start f the process and we got an RNS stating they had sold the first 5t to the offtake company. They have not given any further figures.
However the recent RNS explains a problem they found with the heap leach process that led to poorer recovery rates, it then goes on to describe the results of an alternative method which led to a much better recovery rate and at a cheaper cost. It also states leaching tests of the transitional ore continue.
So to think they haven't produced anything during all this testing or that they haven't sold it or stockpiled it for sale in the future is rather blinkered.

Fira,
The relevance of my post is simple, certain posters on here just seem to want to moan and yet have not done any research apart from reading this board.
Gorsuch says they should have been doing a PEPR 6 or 9 months ago, they did!
Sammybow states that they said they would be producing by Q3 2019, they did!
Dotcom worries about a vast bond, they paid $50kAUS bond for phase 1 - the restart of the heaps.

They submitted a PEPR in February 2019 and that was approved on 3rd April 2019, that PEPR was for the restart and processing of the heaps at MoL (within 2 years), moving the processing plant then to start mining and production at Lorna Doone and Lynda (within 3 years), finally to move the processing plant back to MoL to trial mine Paltridge North ( within 4 years).
This changed and they are submitting another PEPR to start mining at Paltridge North and Rosmann East first, the current PEPR does not cover this, but a lot of the data is the same and relevant as the start up of the MoL plant uses it.

Seems to me that some of you are more intent on putting up hurdles, than listening to the company and doing your own research.
This from the Company submission dated February 2019 regarding work to the heap leach pads,
"Once an area has been “turned over” irrigation will be replaced and irrigation with dilute sulphuric acid will commence.
It is expected that the excavator work will take 60 days and the irrigation and copper recovery will take 3.5 to 4 months. "
So up to 6 months, please note approval wasn't actually given until April 2019.
Now had we known that, would the moaning Minnies been able to moan so much throughout the last few months???

Gorsuch, The PEPR needed the Feasibilty Study and I am sure they would have also needed to know which direction they were going to produce. It looks like they have bow decided that Paltridge North and Rosmann East are the preferred first areas. That was the intention after the drilling but the problems with the extra waste at these areas and the problem with fines in the leaching process will have led to extra investigations and preparations. You can't just do these things overnight.
I felt that he explained the delays with the labs and decisions on starting and PN and RE. I also envisaged some delays as they try and remedy the problems of previous owners and now we know what they have encountered and concluded, I am happy.
Only one thing that I don't understand is why they day in the RNS the PEPR is ready to submit and in the interview he says they will wait until early Feb to submit it.