Strategic Minerals Share Discussion Threads

[troutisout] 25/6/2019 13:28

Plasybryn,

Have you seen the Proactive Interview with JP as he says it was mainly taken up with a cornerstone investor who would only take part if the other placees were limited to Major Holders and Directors/Staff, as they are holding all of their shares and wanted to know the other placees would also do the same. Seems reasonable to me, the discount is 20% which is reasonable compared to many placings, especially as the share price had gone up before the placing, rather than be shorted down so placees could than demand a further discount.
If the Directors didn't take part we would have some saying why didn't they take part, they can't win and the whinging will happen whatever....

For me they now have enough money to purchase the other 50% of Redmoor on Thursday and they are still expected the $4m at any time from the Cobre client, so the placing was relatively small, you and others had a chance to purchase shares at 1.5p on the opening and even now there are share being offered.

[plasybryn] 25/6/2019 12:21

Leaves a bad taste which lingers. Why was it so heavily discounted given directors benefited? The Board keep telling us how aligned with shareholders they are. Really!

[sharenotes] 25/6/2019 11:12

Good call, sleveen. But from your apparent stance, were you also expecting a greater share price fall? If(and I know it is an ‘if’) the monies expected hit the company account, what is your prognosis?

[bigglesbingham] 25/6/2019 11:07

Putting glasses on?

[troutisout] 25/6/2019 10:00

Ha Ha... You seem a little confused Jaknife.....

[troutisout] 25/6/2019 08:56

THe share price is recovering quickly and the MMs must be rather short of stock now, the recent 1m buy at nearly 1.7p shows that. I can see this going blue today as the other 50% of Redmoor purchase is now in the bag.

[vatnabrekk] 25/6/2019 08:26

I don't think this is so bad. This is a very small percentage of the total shares in issue so the dilution factor is minimal, and it seems that they have been taken up by shareholders who are likely to hold them as investments rather than dump them on the market for a small profit. So I would expect the share price to recover fairly quickly.

[plasybryn] 25/6/2019 07:45

Terrible decision- poorly executed. Reputation damaged.

[sleveen] 25/6/2019 07:40

"sleveen 16 May '19 - 12:11 - 200 of 269

Doesn't matter if they're running out of Aussie or US dollars and need to raise funds.

If a placing is needed it'll be in GB pence and below the current share price "

[sleveen] 25/6/2019 07:36

Told ya'll!

SML... announces that the Company has raised GBP890,000 before expenses by way of a placing and subscription of 63,571,425 new ordinary shares of 0.1p each in the Company ("New Ordinary Shares") at a price of 1.4p per share (the "Placing").

[plasybryn] 25/6/2019 07:25

Well the Director's will like the price!! I suspect it won't say low for long. Shareholders at the AGM indicated they wanted it done & dusted so we could move on.
The $4m IF it comes, will be a very nice bunch payment.
But the Co. should have got tougher with them earlier for non payment imo. They have been too tolerant and this has now damaged their reputation.
Let's see a Court action for recovery of funds and compensation.

[the deacon] 25/6/2019 07:13

IF being the operative word..

[the deacon] 25/6/2019 07:12

Suspected there'd be a raise, but 1.4p is a very poor show.

[plasybryn] 25/6/2019 07:12

If the $4m is paid imminently anyone buying today near 1.4p will / should be getting an unexpected bargain.

[plasybryn] 21/6/2019 19:34

For a brief second I feature in the video!

[meanreverter] 21/6/2019 09:12

Plasbryn: Your link doesn't work.

[plasybryn] 14/6/2019 17:35

Anyone going to the shareholder meeting on Tuesday?
I bet they hope they can secure the $4m before then.
If they do everyone will be in celebratory mood for sure!

[troutisout] 10/6/2019 16:48

JakNife,
They were a sort of forced seller and SML could be expected to resell the asset at a much higher price, why? Well because they have got the plant up and running and have increased the JORC resource, as well as highlighting further upside with their drilling programme.....

"Leigh Creek Copper Mine Recommences Heap Leach Operations at the Mountain of Light

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, is pleased to announce that its Leigh Creek Copper Mine ("LCCM") operations have recommenced copper production at the Mountain of Light processing facility and has, as a result of drilling, upgraded the estimated JORC copper resource at Paltridge North by 46% to 10,800 copper metal tonnes."