Strategic Minerals Share Discussion Threads

[sleveen] 16/10/2020 11:09

Adding the quarterly sales figures the sales revenue is $2.990m to Sept 2020 an uplift of $583k from $2.407m to Sept 2019; a 24% increase. No need to "enhance" the figures with the extra $750k.

[sleveen] 15/10/2020 15:41

Trout Seen your comments on LSE Well spotted. SML normally exclude the forfeit figure for comparative operational purposes. They should have excluded and deducted the $0.75m, that would be in the same format as previous quarterly updates. As a result of poor cut and pasting something odd appears to be happening, which is not the case IMHO.

[troutisout] 13/10/2020 13:41

Spin it, is exactly what they did, the 3rd qtr was down, against June qtr and Sep last year and yet they lead with, "Sales volumes at Cobre continued to grow strongly in the September 2020 quarter, up 55% year on year" However we can see that Sales volumes at Cobre did not grow strongly in the September 2020 quarter, they were down, so it was all spin using the yr on yr comparison. As for the tax, they couldn't pay it when it was due as they didn't have the cash, luckily a deferral was available due to Covid and they took it, arranged a placing which allowed them to raise some cash for paying off NAE and also covering their tax bill for the previous period.

[aim0raider] 13/10/2020 13:29

I'm not too concerned by the quarter on quarter fluctuations but will pay closer attention to the YoY. By the same token, September Qtr was down 14% as you say, but June was up 81%, an increase of 23% across the 2 quarters YoY, so there's a few ways you can spin it and the figures don't seem too reliable in terms of a Qtr on Qtr trend.

[troutisout] 13/10/2020 09:28

aimoraider, The tax was mainly paid from the cash balance, $533k down to $264m during the period. The tax was deferred at the Company's choice and this was because they didn't have enough cash to pay it in the period owed, they paint it as good financial management, but ultimately part of the placing paid the tax bill.... Also Sept 2020 quarterly figures are down on the same period one year ago and also the Jun and Mar periods this year....

[aim0raider] 12/10/2020 20:34

Copper is 3.06 and the npv includes the capex to arrive at it. It's is not deducted from it.

[the deacon] 12/10/2020 14:21

That was a reply of mine from a few days ago to someone else. Obviously the current metals prices are slightly different today, but the point is remains valid

[the deacon] 12/10/2020 14:14

They use $3.18 copper (currently $2.96), $20k tin ($17500) and $300 Tungsten ($230). NPV for the project is $90m at the prices they used above, and at the capex to build is $85m. At today's (bracketed above) prices it's fair to say the capex required is greater than the NPV. Just think it's not quite robust enough to attract a serious partner - yet.

[aim0raider] 12/10/2020 13:28

The Deacon, the Capex is behind the NPV, so why say it's uneconomic? Apf, they've paid $0.4m in taxes during the quarter, so the $0.26m cash balance is after that. If they hadn't tackled that, it would have shown considerable improvement since June.

[the deacon] 12/10/2020 08:02

I think another placing is inevitable

[apfindley] 12/10/2020 07:54

The unrestricted cash balance remains low at $0.26m.I thought that would've improved since the last update. It doesn't allow much room.

[the deacon] 12/10/2020 07:46

Yes NPV. Apologies

[aim0raider] 11/10/2020 19:24

You mean NPV not NAV?

[rookie666] 11/10/2020 17:12

After Wolf minerals went bust, and WRES currently struggling to make their tungsten mine viable, I'm not feeling all that confident about this asset....

[the deacon] 06/10/2020 09:13

Still a very marginal asset. The prices used were still quite some way above today's copper/tin/Tungsten price, yet NAV at those prices sits at $90m, with a capex figure of $85m. Safe to say at today's prices the project is uneconomic.

[jusjusjus] 06/10/2020 08:45

I must have read a different RNS, looked good to me, obviously partners needed, but what was there that wouldn't find a partner?

[roger148] 16/9/2020 10:07

Really wow

[jpuff] 15/9/2020 16:27

If we can get through 0.75p then this could really motor!

[bean02] 15/9/2020 16:09

Finally some blue! *silent sobs :-/

[richsmithsmith] 15/9/2020 12:04

John Peters on Proactive https://youtu.be/oFswRxaht1o

[jpuff] 15/9/2020 09:47

I've upped my stake here at these bargain levels

[sleveen] 15/9/2020 08:26

Pretty fair results, $500k cash with LCCM developments not too far off...hopefully.

[sleveen] 14/9/2020 11:24

Https://www.voxmarkets.co.uk/articles/88-energy-strategic-minerals-paul-hill-russ-mould-94f68db/

[sleveen] 14/9/2020 11:24

I'd be more worried if the increase in POC reduced the likelihood of re-commencement of operations!