Member Info for troutisout

Then later this week, the whole BoD will have a Board Meeting in the UK and JP is doing a Proactive interview sometime on Friday.

"Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, is pleased to inform the market that it has commenced the technical assessment of the Leigh Creek Copper Mine ("LCCM") with the formation of a highly experienced study team. The proposed work programme is expected to lead to the commencement of copper production around mid-2019.

Highlights

-- Formation of highly experienced technical team with extensive experience in South Australian copper projects

-- Drilling of existing heap leach pads due to commence in second half of June
-- Drilling of Paltridge North, Lynda and Lorna Doone deposits for metallurgical samples due to commence in July

-- Exploration drilling for potential resource extension between the Lynda and Lorna Doone deposits due to commence in July

Commenting, John Peters, Managing Director of Strategic Minerals, said:

"The SML Board is thrilled with the highly skilled and experienced technical team that has been assembled to progress this exciting copper project. The team has over 100 years' combined experience, much of which is in South Australian copper geology and processing. The quality of the team provides a superb foundation from which to review potential development and processing options and settle on a work programme that will minimise risk and maximise shareholder returns.

"The SML Management and Board are closely following the progress at LCCM and have established reporting arrangements and management policies to closely monitor developments and to ensure delivery of sustainable operations mid-2019.

"The work programme and the development of LCCM are both expected to be fully funded from the Company's existing cash flows, and we look forward to updating the market on the progress of the work programme during the September quarter."

LCCM Work Programme

As announced by SML on 26 April 2018, a work programme was committed to by the Company to assess low risk processing options for the Mountain of Light and Lyndhurst projects, which collectively form the LCCM project, as well as looking for opportunities to increase the existing resource base.

This work programme is aimed to commence sustainable production from existing heap leach pads in mid-2019.

Initial work activities include:

-- Drill testing and assaying of the existing heap leach pads
-- Volume determination of existing heap leach pads
-- Diamond drilling of Paltridge North, Lynda and Lorna Doone deposits for subsequent metallurgical testwork to determine the most appropriate metallurgical process to increase recoveries

-- Exploration drilling to test for possible copper oxide deposit extensions between the Lynda and Lorna Doone deposits"

djryan,

Not going to call you names, but you need to keep up a little, you say this is the first you heard of it, try the RNS back in June which was quite clear. I also think you will find this is covered by the current funds as stated by JP so long ago (how many hours?) and in the June RNS. Anyway RNS from June follows,

No not me, someone else must be snapping a few up, which is good to see.

Sorry you were bemoaning my opinion as mere speculation and stating it not as fact, I show my source and you have a go at me for copying and pasting.
The facts as we all know are that, if you want to go through every other possible outcome, that is up to you, but it is noticeable that you don't come up with any positive ones, only negative.

Not sure I said SML was risk free, I think you need to read my post again. I said it should be a positive that current developments are being funded from internal cashflow and not through burning through fundraises as many other companies are doing.

Finally I am glad you feel the need to make a point you are in profit, it is always reassuring to have someone need to post that in a response, especially when the SP is half what it was last year.....

All of my response is mere speculation without fact??? Let's see I got the details from RNSs and as I see your speculation is indeed just that I would rather think my response is based on far more fact than your worries....

"7 June 2018

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Temporary Amendment to Cobre Sales Contract

Ensures minimum payment of $1.125m over nine months

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, announces that it has, in conjunction with its subsidiary Southern Minerals Group ("SMG"), amended its contract (the "Contract") with SMG's major client (the "Client") at the Cobre magnetite stockpile in New Mexico, USA. The amended Contract provides the Client sufficient time to put in place the necessary environmental approvals and operating procedures to resume the offtake of magnetite material, while at the same time ensuring that SMG is in a similar after-tax cash position as per the previous contract.

SMG has agreed the following arrangements in relation to the Contract:

-- The Client is to pay, quarterly in advance, a non-refundable prepayment of US $375,000 against future deliveries (payments are due in June, September and December 2018)

-- The minimum 4,000 tons per month sales requirement, currently stipulated in the Contract, will be suspended until 1 March 2019, offset by the US $375,000 quarterly prepayment

-- A maximum of US $125,000 can be applied to sales in any month provided a minimum of 4,000 tons is taken during that month

-- Should the material not be collected by the Client within 12 months from the prepayment invoice date any prepayment amount, relating to this invoice, will be forfeited"

and

"It should be noted that this does not change, in any manner, the underlying contract with the client, which has a requirement to purchase a further circa 360,000 tons and will, after May, continue to have a minimum purchase requirement of 4,000 tons per month. SMG reports that the client is currently within its payment arrangements with SMG and has, in escrow, a US $250,000 deposit securing its contract."

The nice buy earlier was me, when the price drops I find it hard to resist........
However the MMs seem to be walking it back down again on small sells.

Certain posters here do seem to enjoy spreading the negative vibes.

But the reason the SP doesn't move is simply due to the lack of trade, very little buying and a subsequent glut of sellers.
This time last week I had completed purchasing 6.25m shares over the previous 5 working days, within a week of that those shares have been covered by sellers. Well you can see that the MMs must applaud this sort of scenario, they are quids in. The only thing that will get the SP to rise is more buying and less selling.

As for the point that has yet again been misrepresented, the last pre-payment for Cobre offtake is due at the end of December 2018, covering through to the end of March 2019. That is how they know they will have a cashpile at the end of 2018. So can people please stop posting that the payments only go up to December, they are pre-payments! The one from September will help cover this quarter's costs of the portfolio.
There is also one very simple reason this can't go further than that and that is the contract renewal at Cobre means they can't have an agreement going any further with the major client until they get the renewal agreed.

I would hope that the newsflow will be attracting new blood here, investors not traders, but at the same time I just hope the stale holders hang off with their selling to allow the SP to rise and re-rate.

Not sure how you managed to buy at that price on October 1st as you say. The low was 14.44p and the high 16.688p from the trades screen I am looking at

Thinking along the same lines, looking forward to finding out more.....

That would be huge, as it not only increases the value of the resource but makes that resource far more profitable to mine.

Look at the difference this increase in resource and grade could mean,

The key results of the financial assessment were that, despite the project being expected to deliver excellent operating margins (estimated net margin of US$63/tonne), the existing High Grade Mineral Resource of 4.5Mt is insufficient to meet the Joint Venture partners' investment hurdles. This indicates that, with an in-situ grade of 1.0% Sn Eq., an excellent project could be developed at Redmoor provided additional resource tonnes can be defined and added to the mining inventory.

The following table demonstrates the potential expected returns on investment ("IRR") at varying mining inventories**.

Table: Estimated IRR of the Project based on varying mining inventories**


Mining Inventory (Mt)........ 10.7 9.4 8.7 8.0 7.3 6.6 5.9 5.2 4.5
High Grade Option IRR%... 28.0 27.4 27.0 26.4 25.6 25.0 23.5 21.5 16.0
Average Grade Option IRR% 24.5 24.2 23.9 23.4 22.8 22.4 21.1 19.3 16.0
----- ----- ----- ----- ----- ----- ----- ----- -----

**The estimated IRR valuations are not based on a Scoping Study. The mining inventory figures in excess of 4.5 Mt are only conceptual in nature and supported only by the Exploration Target. Therefore, these valuations are only illustrative of the potential value of the Project based on the early stage information available to the Company and should not be relied upon for investment purposes.

DVH,<br />I have been invested in AIM shares for many, many years and been on financial BBs for over 15 years, so I know this is AIM. <br />In that time I have seen many unloved shares and many stale holders. Some have been holding for years and others caught in the last spike and waiting to get back to breakeven. It would seem this share suffers from a bit of both. There is an accidental negativity posted after each RNS as 'long termers' joke about 'another RNS, another down day', stating we need traders or just saying nothing will happen until another bit of news is released (constantly kicking the can down the road).<br />That affects new investors looking in, if anything, it will make them wait and see what happens with the SP before buying in. They will be nervous that any buying will be sold into by those stale holders (there certainly seems a pattern of this).So the comments made after every RNS by some may be unwittingly affecting what they say they want, more people buying into the company.<br />There is a lack of buyers and as I have said, we cannot lay that at the BoD who have updated us regularly, have done the accompanying PR interviews and importantly, they have progressed all the projects. So perhaps time to look at ourselves, buyers attract more buyers, it's a bandwagon. if no-one buys then it takes a brave investor to buy. <br /><br />A little more positivity from LTH's may be needed, if that is possible.

Cornishknocker,
Thank you for your posts here, you add much to the discussion and are a great conduit between the layman (myself) and the geology experts.
Unfortunately if everyone waits to buy some more, they tend to then wait and see if the price drops and then they don't buy and the cycle continues.
I am amazed by the lack of buyers in this share, but put it down to some stale holders selling, many waiting to see before buying (as above) and a lack of new investors coming aboard.
The PR and RNSs from the Company seem very good, so why no new investors?
I don't buy the Cobre argument, they are selling more and more magnetite from Cobre and the major client is paying up until March 2019, so revenues will be moving up without the re-start of deliveries. If the major client doesn't come back for deliveries then the company take the payments and the escrow deposit and have lots of magnetite to sell to other clients.
There seems to be a negativity around this share on these boards and that can often be a signal to buy, the newsflow is good and we keep getting told there is more to come, so for me the buy signals were there and I have.I am sure if no-one else buys then the price could drop back a little, but when the RNS drops (that apparently everyone else is waiting for) then the SP isn't going to open down at these levels.
Good Luck and keep up the good postings.
Trout.

DVH,
Who needs to interest traders? We could do with some more investors....Believe it or not the timelines for the projects aren't that far away and each RNS like today is clearly signalling a higher value for our assets.
An under the radar share that is expanding on all fronts should be a no brainer for investors....

1.54p to buy and yet only one person has taken the opportunity.

Very happy with that and backs up my optimism of late. Redmoor is going to be valued far higher than forecasts, even before any mining takes place. The asset value of the resource will be multiplying.

Well just got home to see the drop and got another 2 lots of 500k....

The Sun is shining over Redmoor,

https://twitter.com/SML_Minerals/status/1047035827828789249

dotcom999,
Buyers aren't any good without some funds to buy, holders that just want the SP to go higher, end up sounding negative because it isn't higher and thus make it less attractive to new buyers looking in.
We cannot complain the Company aren't moving forward, or that they aren't RNSing news as it happens or for that matter that they aren't doing the extra PR that goes with it. They are doing well, if buyers aren't about then they will come when the value disconnect starts to become more apparent, in the meaqn time the buyers that are here are able to continue to buy up shares.