Member Info for troutisout

Cheer up, the price has been rising nicely over the last 2 months and I expect it to do just as well over the new couple of months......

The sellers/selling has just allowed me to add a whole load more shares at under 1.5p...

Definitely in, just got some more and my holding is now above a nice round number.

Time to just sit back and watch, everyone will buy in at 2p when the Cobre recommencement news gets released, won't they?

stockdale, Oxygen is important to all our livelihoods.

We don't spend time posting on BBs about it or overly worrying where tomorrow's oxygen will come from.

It just seems that some here want to keep Cobre as a tool to bash the stock down.

Surely the agreement means that SML have visible revenues coming in from the major client for the next 6 months, if they don't start to take the magnetite within the 3 months after that they lose the right to it and the pre-payment sums are already non-refundable.

The deal is pretty much win-win for SML, which seems to show the major client is confident in getting it's permits in order and re-commencing offtakes.

It is about time people stopped worrying about something that has at least 6 months of forward visibility and started to look at all the other positives that are happening.

I am not sure that many have grasped the deal on Cobre with the major client.

If you look back you will see that the non refundable pre-payments are due quarterly in advance in June, September and December, so December's pre-payment covers us up to end of March 2019 (Which is far as they could go due to the renewal period for offtake).

So this covers money that shouldbe coming in for 2019 Q1.

I see this deal being extended on confirmation of Cobre Offtake renewal (see quote from RNS below).

Finally if the major client doesn't take the materials within 12 months of the pre-payment invoice they forfeit the right to it, so by June 2019 if they still haven't taken any magnetite then they forfeit that and the company will have 12,000 tons to re-sell. Same in September and December.

The deal made with the major client looks very good for SML, but I don't think people see that and post about having no more money coming in 2019....Well December's sum is a pre-payment covering Jan, Feb and Mar advance sales....

I am a fairly new investor here and my first purchases were around the 2p level, however as the year has gone on, I have continued to regularly add and got as low at 1.169p on some purchases. The regular investment strategy is the only way to go with shares like this as I have caught the falling knife several times as it went down through the 1p's.
I now have a decent sized holding here and bought another million yesterday. I have tried to buy more today but cannot get an online quote for even 100k shares. I am not sure the woe of Cobre is deserved, it seems it is used each year to panic and deramp as the annual renewal comes up and this year the major customer has given those that want to use it, another weapon to bash the price.
Over 2018 the BoD have been very optimistic and have backed that up with actual progress, that has pleased me as an investor and made me want to continue to add when possible. Cobre will not put me off as the stockpile is there and can be sold to others, the 'major client' has paid for stock it hasn't taken, up to the end of this year and if they break the contract I believe they will have to pay a break clause.
Cobre seems to be the 'in-thing' to bash SML with and there has definitely been some trading going on around the edges.
Maybe I am being too optimistic at the moment but I believe once environmental permits are received the major client will recommence deliveries and everything will settle down. I am happy for that to take a bit longer, for selfish reasons as I want to buy more over the next couple of months.

Just the thoughts of a newish investor, who is probably just around breakeven at these levels.

kkrriiss,
I think you are ramping up the wrong tree. The forecasts for 2018 and beyond were clearly cancelled in the 3rd August RNS, Redleaf also pojnt this out in the reply you have posted.
What they have confirmed is DA believe the sales forecast to occur in 2017 will come in during 2018 (this was stated in a previous RNS). The words 'to occur' are the clincher here, they were forecast to have $605k sales in 2017, this was missed and in an RNS they stated they expected these to occur in H1 2018, they now state these revenues are due to be reached in 2018. They have confirmed nothing more and point out all the previous forecasts have been withdrawn.
The low revenues this year are the reason that DA have to keep taking loans on board.

Sorry that didn't work, however I was trying to point out the chart is now sitting on a two year rising trendline. Have a look at the 2 year chart and join the low points from Sep 2017, the Summer this year and the present.
It also appears the chart has formed a flag pattern since October last year and the top of this flag is now at just below 9p, a confirmed breakout of that would imply a rise of 7p (equal to the rise last year forming the flagpole).

So I concur that this is due a bounce and potentially a big one soon...

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Since the 8th August when Bachmann went below 4%, there have been 19m shares traded.

His holding was 7.67m back on the 8th August.

A little bit of reality when talking about his holding please....

What is more important is his apparent want to trickle his sells, this is negative on the SP, rather than get best price.
The fact that, as said, he normally reports the next day, but last time waited 3 days, suggests to me we won't get a TR1 until he has sold the lot. His selling has been disruptive and many would say deliberately.

If I am right then when the TR1 lands there will be no slack for those buyers waiting in the wings to pick up, they will be paying higher as the MMs move the price up (we all expect a trading update and most think it will come after Bachmann has fully departed).

I cannot see why so many appear to still see Bachmann as a bogeyman, he will not have many shares left and the volume of shares traded suggests that if Bachmann hasn't been selling down then there have been others (mainly I believe traders) doing so and they are the true bogeymen.

I honestly believe that rather than hope for the SP to drop back, those that want to add need to do so, before Bachmann declares he holds zero shares and any company news. But that is up to them, I am sure they are the same type of person that won't buy if the price rises (because they have missed the boat), so are really opportunistic traders....

Renewable,

I think your problem might be exaggerated by the Company using a tin equivalent metric in their reporting, thus tungsten and copper as well as tin are reported as a tin equivalent figure. They are all important and this RNS does seem very promising as the whole drill programme is to firm up further resource at a lower level to make the mine viable (look at the RNS dated 25th May 2018).

So hold on, you are now saying you are guessing it is a buy?

I don't agree that it would have caused a dip on the daily as there has been good buying to counter it.

You seem to share the same phobia as 'Mr T' in the A team.....A fear of flying.......

I personally think the Directors have plenty of skin in the game here and am impressed that they exercised options so close to the current SP. Most Directors would wait until well into the money before exercising, to reduce the risk.
I see this as the Directors pointing out again that they are with us, on this journey.

It isn't the RNS that makes the price move it is the trading and today's buys have just about covered yesterday's sells, more buying now will start to see a push up in SP, but trading is light at the moment...

How did you think they were going to sell them to you at 1.36p when the lowest buy was 1.3844p and they were paying 1.344p for sellers???

Also depending on your broker most limit trades don't start to get worked until the quoted offer has hit your limit price, so if you had 1.36p as the price, it would have needed to go 1,35p offered before they would start to work it, If you want a specific price like that then you need to try a fill or kill order, which they will work straight away (but kill it if no takers).

I actually think the price might start to creep up more and more, during these quiet times...

That is why he pointed out the spread at the time, when big trades are delayed the spread often moves and they are wrongly categorised (as per the new spread, not the actual one when it traded).

Can't buy 1k of shares online at the moment, going blue?

Well the new shares are issued on Thursday and that will mean Bachmann's holding will be closer to the 6% mark due to dilution, along with yesterday's volume and todays 4 x 100k sells he could be well on the way to 5% band by Thursday.......
I have said before, as his holding get's less and less, those on the sidelines will have to make their move for the last of the 'cheap' stock. I am making sure I get some now, but will save a bit back for any last minute sell off sale......

Just took another 100k at just below mid price, currently 450k of buys in the sell column and not sure on the 137k trade (so that isn't included)

after the 239k buy at 7.24p, the price to buy 250k went up to 7.44p, but then I tried for 50k and they were still offering at 7.215p so took them...

That's not entirely true, I have been offered 250k at below mid price 7.34p, then that has dropped again to 7.28p and was offered 50k at 7.215p. I see the bid has dropped while I am writing this.

Being offered 7.24p now, many buys ending up in the sell column, due to this......