Member Info for Valuation-it-is

$0.30
0.005(1.695%)
V:1.47M
Up slightly on opening with 1.47m volume going through. Crocqman - can you see if the short position is changing? Looking at the links you posted I cannot see any movements ............

Fira "Wondering if the Bod, and indeed possibly some staff at Redmoor have got a heads up. that there is no grants, government money, tax rebate development cash etc going to be forthcoming??"

Apart from Peter Wale who is a main board director of SML, I know of no-one now who is charged with taking Redmoor forward. Brett Grist, James Blight and a graduate geologist have all left Cornish Resources ltd, so I am not aware of anyone who is left to take things forward. Were they pushed to save cash or did they all go, having heard that no further exploration would be carried out? At least we can be re-assured that what is in the ground has gone up considerably in value.
My guess is that someone else will unlock that value if SML doesn't show any signs of doing so. For SML to do so, Leigh Creek probably has to come through. The chances of financing that may have increased as Redmoor now offers more surety than before. Time will tell.

Fira

Agreed there is no bid currently. But there is growing corporate activity in the SW, and assets without any staff developing them are clearly going to be looked at by others.

Hursty, Who in their right mind is going to short this, if it is a bid target? A potential predator would mop up the short position with glee, saying thanks for helping me get to the 50% level without having to pay a premium. The shorter would then be left with a huge loss.

Fira I hope this does not offend you, but I think you are missing the point. It is not about whether the BoD sells assets, it is whether there is a bid for the company and the assets are then operated by others.

DVH
If you had bought the company you would be deciding who the BoD were to be, appointing your own people.

Lupi. Thanks for your clarification - much appreciated.
" We are trying to arrange finance against 99.98% of our total worth. "
Whilst looking at market cap is one way of assessing total worth, it is not the only way. The true and current value of the net assets on the balance sheet is probably the best way. And that does not mean taking the values as stated on the balance sheet as they will be out of date.

I expect news from CUSN drilling at Trenares and Carnkie will be coming soon.
The price momentum seems to be building, with one deal going through at 17.7p.
Looks like those sat on the short position will be increasingly uncomfortable now. If the price continues upwards the shorter may have to find 2.44m shares from somewhere. If that happens in a tight market the price will rise very sharply.

Given the market cap is only £7.56m, someone could acquire SML for £10m or so, by offering shareholders a 30% premium to the current share price. Given, I understand, the after tax npv of the Redmoor resources alone was estimated recently at over $150m this company seems to have a for sale sign over it.
Who would bid and when? The obvious candidates TUN, probably want to get up and running at Hemerdon first, but having more resource from Redmoor, to put through their processing plant must be a hugely attractive proposition for them. Other candidates further West in Cornwall are probably not ready yet, but may be soon. Then in the wider world there may be others who would find attractions in either LC or Redmoor. It seems to me best to sit this out and perhaps even top up. We may even see Leigh Creek come good in the next 6 months, although comment on this board would undoubtedly scoff at the idea. This is clearly an unstable situation. A close look at cash flow is now required, as loss of key staff, and the small raise recently, suggests the company is trying to eke out its resources.

Closed at 30 cents (17.6p) in Canada last night. A purchase of 130k+ shares went through at 8.38am this morning at 17.4p and now the spread has moved to 17-17.5. Clearly there is confidence in Canada, following through into the UK.

Major Oak 7.24 ".......nothing will be cheaper than brine production. Very interesting as the lithium in Cornwall is very much the same type and grade as Cinovec.

CL told me that not only has the brine from 5 km depth in Cornwall given very high (if not the world's highest readings of parts per million lithium in brine, but also the brine is very low in key contaminants. This suggests that the yield will be amongst the highest and the cost of getting the contaminants out will be amongst the lowest. Putting this together with your thought "...nothing will be cheaper than brine production" and I think Cornish Lithium may be an extremely low cost producer of lithium. We must await the pilot plant trials to see what happens in practice outside lab conditions, but I consider that the outlook is encouraging.

Many thanks - I will take a look.

https://www.reuters.com/business/energy/australias-vulcan-energy-signs-lithium-hydroxide-supply-deal-with-lg-energy-2021-07-18/
The demand is certainly there. CL should be able to do something similar and may be able to raise finance through take -off agreements.

Tyson Friday 7.43 "as most of these DLE guys will all effectively be doing the same thin........"

My understanding is that the DLE companies are doing it in many different ways, - of necessity perhaps as the brine in different parts of the world has very different chemical compositions. So I think there will be some winners and some losers.
One company - coming to the market in Q2 2022, Cornish Lithium- has looked into around 70 different methods of DLE, narrowed their testing down to about 20, and are now concentrating on 2 or 3 methods to decide which to use for LE from brine. As such it has not been tied to an in-house method or IP all of which may be an advantage.

https://cdn.website-editor.net/c077baaab49a4754a58400443da010c1/files/uploaded/191111%2520Redmoor%2520project%2520-%2520PDF.pdf
Recent news:-
Producing mineral company Strategic Minerals announced on Wednesday that its wholly-owned subsidiary Cornwall Resources (CRL) has identified further significant high-grade tin in four pit samples taken to the west of its main Redmoor deposit.
The AIM-traded firm said the samples were taken as part of a follow-up of positive close-spaced auger sampling, reported on 28 September.
It said it found a "significant" at- or near-surface tin result in pit CRT04, peaking at 0.68% tin, with all four pit samples showing confirmed in-situ mineralisation.
That, the company said, reinforced its previous trenching and auger results identifying attractive exploration targets.
Strategic Minerals said it had updated its internally-estimated project economics, which now showed a large uplift in its 8% discounted net present value (NPV8) to $163m, with a 33.1% internal rate of return.
"These pit samples provide an important in-situ confirmation of the mineralisation identified earlier in the year at Redmoor West," said Peter Wale, executive director of Strategic Minerals and a director of CRL.
"This bodes well for further exploration as CRL's experience to date at Redmoor suggests that grades often significantly increase at depth and when approaching the granite source."
Accordingly, to find tin grades of that tenor close to surface was described by Wale as "very encouraging", both for project economics and for the resource tin-tungsten mix.
"CRL is currently formalising its next exploration plans to explore the depth extensions of this target and of the potential for a westward continuation of the main Redmoor orebody."

Major Oak The short was put in place 15/11/21

https://uk.investing.com/commodities/tin-streaming-chart
At $38,952 as I write.

https://uk.investing.com/commodities/tin-streaming-chart

The hidden value of the resource is rising again.
Who will unlock the $163m under Redmoor? Possibly the people who are driving this share price down!

https://money.tmx.com/en/quote/CUSN now showing up 13.462%
$0.295 (=17.356p)
0.035(13.462%)
V:334.55K
Last updated: Nov 22, 2021, 8:41 AM ET

If it can be done, I am afraid I do not know how.