Member Info for troutisout

Pleased with the numbers from Cobre this quarter and hopefully signals an increasing trend.
Cornish where do you get that baseline figure from?

Just seen Slurm post similar to the last bit of my post and in a much less long winded way.

Dillon,
You don't seem to understand that I am saying the result of these type of polls is nearly always negative to the SP, so therefore would be a sell signal. Just because I have't sold doesn't mean it isn't a sell signal, if I saw it elsewhere and had a smaller holding I would sell.
Why? Because the collective guesses tend to bolster everyone into a wave of optimism and hope that everything will be great and the SP will rise. Unfortunately you tend to only see these polls on Companies that have already sunk SP wise and where holders use it as a way of trying to ramp up more enthusiasm. SML has suffered ever since I have held it with sell offs on good RNSs, it now has suffered from a run of negative RNSs, but more importantly these downward moves seem to be exaggerated by the perpetual beliefs that things are definitely going to happen by a date in the future and when that date passes, or the likelihood of it actually happening by the date is quashed the downtrend is heavier. It is understandable for holders to try and grasp at positives and hold them dear, but it isn't reality and is mainly down to the low share price we are at (these things wouldn't be so rigid and expected, if the SP was much higher and everyone was in profit, people allow so leeway).
This doesn't help the BoD or the SP so I don't know why people think it a good idea to do so.
Even this morning a poster is saying where are Q3 figures, what about an LC update and where is the strategic review, now why should we believe we should have any of these by today or even ever? The strategic review is likely to have focussed on costs and plans for the future, I would say the mothballing of CARE was a result of that review (most companies don't announce the results of their strategic review as most of that will be commercially sensitive. We will be told of things like the halt at CARE but no more. The Q3 results will come when they do, just because of certain dates over the last few releases were earlier in the month doesn't mean this one will be. Finally Leigh Creek updates will happen when they have something to update, to keep demanding one is likely to mean when it comes people are disappointed as they have revved themselves and each other up about what possible positives could be in the update.
Some people here quote 'patience' but don't seem to have that themselves....

Stockdale,
I am not concerned with the potential delays, jeez, this is an early stage mining company on AIM. I am concerned with those that are saying there won't be any delay and that they will be at full production in Q1 2020, because at the moment, that is unlikely and will lead to disappointment to those that still think so.
So don't try and twist things around, I am the one happy to admit there is likely to be delays getting to full production in Q1 next year, you and others seem the ones frightened about talk of any slippage to timelines on these boards...Read the RNSs and look at the change in information dissemination from the BoD. They will get there, but stop holding a gun to their head and saying "you said Q1, 2020", because as I pointed out earlier they also believed they were about to receive $4m back then, that would have set them up to reach that target. They haven't had the funds since to push on at that rate, so allow for some slippage....

DGR, It wasn't trying to make my opinion more valid than anyone else's, it was an answer to Dillon and hopefully he can see that with a holding like I have, selling up isn't really an option at these levels and that I may have just done a little bit of research on the Company.
However as a point of order, the size of someone's holding does make their opinion more valid when it comes to voting at general meetings, something I have had to do too much of, recently.

Dillon, I hold roughly 1.5% of the shares in this company and have sold twice in the last 6 months both lots of 500k shares and both to pay for works on an extension for my house. I would have preferred to sell another share but I was involved in stuff that left me 'inside', so I was unable to sell them. My holding here is a strong one and I believe the Company will come good with LC and eventually Redmoor.
Why do I say I would normally think of selling when I see the poll posts, whether it is when will FDA approval come, what price will it be by Christmas or even how manys tons of magnetite have SML sold, they all tend to end up with far more optimistic answers and therefore lead to disappointment when not reached. At the present time the MMs don't need a lot to lower the SP, so why are posters giving them a chance to?

So Stockdale, you believe it is going to happen after Father Christmas visits and just before the Easter Bunny....

Stockdale,
I am sure someone complimented you for thinking outside the box and yet now you are being myopic. Your earlier post said this, "Your point about LCCM not being in full production in Q1 seems to be based on the lack of recent news. The news we have is from a month or so ago which stated Q1 for full production. "
So the newsquote you referred to was closer to 4 months ago and recent RNSs state just 2020, so the more recent news does state something slightly different. So people that keep re-iterating the older quote are likely to not just be upset but are lining others up to be upset as well.
All I am saying is stop trying to run before you can walk, it is clear there has been a change and they have tried hard to point out the change in finances and in my mind, the delays to the original programme.

Stockdale, Can you show me the news from a month or so ago that states that please? In fact can you show me that in an RNS after it became clear they were not going to receive the $4m? The last RNS to mention full production restart in Q1 2020 was the placing RNS back in June and that also said the board expected the $4m payment imminently and could be received at any time.
I have more reasons than most here on this BB to want full production, but am happy to wait for it, rather than to try and will it to happen, like some are here.
Or are they just setting it up for the next leg down of their trading?

That is always the answer 'it is just a bit of fun', but with a lot of bits of fun, have you thought out the consequences of it for others, I would normally sell when seeing these type of polls being posted as they generally lead to more upset and negativity and I had hoped we had done with that here and were ready to move on.

I am against sweepstake polls, they always lead to disappointment and can unwittingly affect others' opinions (anyone from outside will read that and a figure to the low end of the scale will seem disappointing compared with some of the predictions, however those are from people that are well under water and hoping for an SP re-rate, where as a new investor is buying in at a level that has taken in a poor outlook already. We don't need to discourage them more).
Also I think it is quite clear that LCCM will not be in full production in Q1 2020, I am hopeful they will be ramping up production in that time, but the mood music from the Company is trying to move away from the Q1 2020 timeframe. So again rather than perpetuate an unachievable timeline by keep on referring to full production in Q1 2020, why don't we be a little more realistic and wait for news from the Company to confirm any new timelines....Q1 2020 was a date set when they believed they were going to receive $4m, they haven't and so adjustments need to be made by everyone.....

Think he may have overpaid though.....

There seems to be at least 2m buys in the sell or ? columns today, take that away and add to the buys and you see the true picture

I can't give you an answer but if the second $0.9m was after the expected receipt of $4m, then perhaps somewhere between $4m and $0.9m, less anything spent this quarter and anything from the $4m that was not needed for LC start up. Of course costs can go up as well as things move on, I don't expect it to run smoothly in the early stages.....
It amazes me that people just focussed on the $6m profit per year and hadn't allowed for costs to restart and mine and process new prospects. What did they think it would cost???

Wide quoted spread meaning mainly buy trades going in under mid price this afternoon, MMs needed to take the steam out of the situation.

Is that tongue on cheek as well? 8o)

I am somewhat surprised that none of the investors here seemed to think it was going to cost anything to get a mothballed plant up and running again and to start mining and processing again. Did they really think it was going to come from sales and wash it's face from the off??
I think the only way to get a capital injection into LC is a JV or some other clever royalty offtake. I do think this will take time but when it comes things could change quickly, let's face it, the $4m seems to have been what they felt would get it into full production in 9 months, they have spent roughly $0.9m in both the previous quarters, we don't know how much this quarter.

troutisout

Today 12:29

Posts: 971

Price: 0.70

No Opinion

His buys are the 700k, 1m, 1m and 814,942 at around 9.50am

If only to keep in the race with PW for the biggest Director holding......

mk, I suspect that your statement was tongue in cheek, but it is oft brought up as soon as a Director purchases and strangely sometimes by the people originally asking for Directors to buy.
However your sells yesterday and today's fall gives you a chance to jump back aboard if you so wished.
On your original point, the Directors have been in a 60 day period where they cannot buy shares before the release of results, the results have been published and so the only reason they could not now buy, would be, if they were in receipt of material information which the market does not know.
The Interims told us about the arbitration with the main Cobre client, that they were seeking more offtake clients for Cobre, that they were looking into ways funding LC through structured deals, whether that be offtake royalty or JV. So although Directors can buy, that doesn't stop one of those events coming to fruition, the main client could pay up a substantial amount, a new Cobre client could come forward and a partner could come forward with some sort of structured deal to finance LC. The Directors don't know this will happen today and that allows them to purchase shares, it doesn't mean it couldn't happen in the short term.

His buys are the 700k, 1m, 1m and 814,942 at around 9.50am