Member Info for troutisout

Seems to me that everyone here follows the noise demanding more information from the BoD and when they get it, they don't like it and the price drops. Make your minds up people! There have been plenty here that have talked everything up and yet as seasoned investors should know that AIM miners never go in a positive straight line. I can understand their communications strategy at the moment and have some sympathy with the BoD. It seems no-one remembers the fact that we always dropped on positive RNS releases. You see there are far more traders here than let on, they work to build up people's hopes and then once they have sold they are quick to damn. Recently the downward spiral has allowed them to come back and repeat their woe and yet they say they still hold. How can any investor worth their salt, hold a company they are so vehemently aggrieved by? Perhaps they like stomach ulcers.
My own view is that this will come good and likely via a one off bit of news the SP will jump back up. Therefore my holding in the Company remains and I can wait, yes I could have done better elsewhere with some of the funds but I could have lost even more. My only regret is that another share suspension and an extension on my house have left me unable to add to my holding at these levels, although I hope the situation changes because I would happily buy lots more shares here to add to my holding.

Freaky Zebra,
I know Fira does it to wind us up, but you and Toze surely have sold out by now and therefore is your outrage for our benefit or yours?

Fira
and if it gets to 0.5p, will you then say you expect it to go to 0.4p, etc, etc?
You seem to be the archetypal deramper and yes they often claim to have a small holding as they predict and watch a rapidly falling SP.
The alternative is that they are awful investors watching their capital go down the drain....

On the subject of Cobre, we seem to have got our knickers in a twist about the 'main'client, but we have been given far more information this time and can see that the difference between last H1 revenue and this one is $723k, also as I said earlier the cost of sales has dropped and increased margin so after that the difference is $561k.
Now in the small print below it gives us some breakdowns, as follows,
"Revenues from Customer A totalled $351,140 (2018: $362,051), which represented 25% (2018: 17%) of total domestic sales in the United States, Customer B totalled $563,945 (2018: $627,977) which represented 40% (2018: 30%) of total sales and Customer C totalled $375,000 (2018: $506,186) which represented 27% (2018: 24%). There were no export sales in the year (2018: Nil)."
Not sure if customer C is the 'main' customer? Only as the revenue is $375k and could be that recognised payment made by them, but then their revenue is smaller than customer B, but they started to have problems and suspend delivery in H1 2018 and so it could be the case that customer C is the main client. Get another customer B on board and the difference above is covered, get two customer B's on board and the main client is forgotten totally.
The main story is the other clients revenues were down as explained and they apparently have been back to previous levels again recently.

and the Elephant in the room is out....
I have to agree this should have been out at 7am with the other RNS.
However some of the rubbish I am reading is hilarious, mainly from one notable source (he would probably have said sauce).
So I am not that worried about the Interims, in fact I think they have underlined a lot of 'issues' and put some to bed. Hanns Camp and Care tenements have been well down the priority list and that in itself suggested they weren't up to much. So they are looking to exit and have written down the asset to zero and incurred an impairment cost of $760k. That isn't a cash loss for this period, this will be money invested in the project over the years that sat on the accounts as the carrying value of the asset.
Take that away from the figures and the loss this period is really quite small and manageable, this in a period where lots of money has been spent on the other projects. The spend at Leigh Creek was $1.834m for the half and yet cash has gone dropped $1.67m in the period, so LC was funded by Cobre to some extent.
Plus points,
- bit the bullet with Hanns Camp and so can concentrate on the other projects.
- although revenues at Cobre were lower cost of sales were lower still increasing the %margin.
- corporate overheads down 12.5% with more cost reduction measures enacted.
- majority of the placing funds not in these accounts
- these accounts are in US$ our payments to NAE and costs at LC are in AUS$ (nearly 1/1.5)
On the face of it, they seem to have enough cash to keep them going and are actively looking to add to that with a structured deal to push Leigh Creek along. I think they will get someone wanting to be part of that.

Can't get a quote to buy at 0.8p, so don't think the drop will be for long, MMs trying a knee jerk reaction, but I think a lot of it is in the price. Let's see if we see some big buyers now...

dvh, they had to release the Interims today or be suspended tomorrow....Aim rules...Must publish Interims within 3 months of half year end and 6 months for full year results.

57 posts today and every one of them ignoring the Elephant in the room.....Where are the Interims???

Previous Interims were 28th September 2018 (again the last trading day to post them).

Interims on Monday, not sure why they had to wait until the last day to release them? Is there going to be anything else with them?

So just a quick look back at the cash situation, working on Aus$1 = US0.68c and £1 = US$1.25 = Aus$1.84.
So we had cash of US$320k at 30th June 2019 (Cobre and cash situation RNS),
we then received in early July £820k (US$1,025k) after expenses from the placing in June.
Cobre Sales for the June quarter were US$841k but that included the recognition of the US$375k payment, so US$466k net of that payment. Corporate overheads were US$297k for that quarter.
We received a research grant of Aus$296k and paid NAE Aus$290k.
So if we cancel out the research grant against the NAE payment, we are left with,
$320k+$1,025k+ say $400k of Cobre sales (more likely to be $450k+)=$1,745k
From that we have to deduct corporate overheads of say $300k, leaving $1,445k.

We don't know what they have spent out on the projects and know they have Aus$300k (US$$204k) to pay at the end of next month to NAE. But these are all the figures we have had since the end of June 2019, which is the period the Interims will go up to.

I really think they have enough to continue for quite a while and still believe we will see an offtake royalty agreement or a JV at Leigh Creek to get that really motoring. That is likely to take some time to broker, but they have enough of a cash cushion for that to happen.

Sammybow,
I think it would be a little more disappointing if you were a shorter term holder.....

I think this still might have more in it today, the bid is still rising, not sure on the size of the online offer....

Well they have until Monday week to publish the Interim Results, just 7 more working days.....

Trading looking positive again, another positive buying day and stock looking harder to buy now..I can see this ticking up a bit as more sense a roll forward with the SP.

They will be posting the Interims before the end of September so we will hear what is going on then, it would be very weird to publish an RNS with the Interim Results and not to mention progress since that date....

Do you mean the 'bid'? If they had a stranglehold on the bid it wouldn't have gone down....

Well it looks to me that if the two trades just over 600k each were a transfer (looks likely) then yesterday's trading especially the strong end to the day bodes well for more positive movement of the SP.

Looks to me like the two trades at 10am were a transfer, it would be odd for the second sell to get a higher price and the price and number of shares equal the same amount of money £5k transferred into a SIPP or ISA?

4 x £5k sells reducing the price as they go.....Or are they transfers??? The spread on the last two suggests all were sells....

I see that as saying they will be bringing forward some of the work to this year to bring forward a portion of the R&D credit to this year as well. As mentioned earlier, I think they are looking at an upfront payment, loan against future offtake or a JV as the funding alternatives, not sure that if they were thinking of a placing to mention funding alternatives in an RNS when they don't need to, would be very clever, especially after the Cobre major client.
As with the above, nothing can be set in stone, so we will just have to wait and see.....