Strategic Minerals Share Discussion Threads

[1bluehorseshoe] 01/8/2019 11:30

Looking more and more like the Cobre major client is weighing this down

[sleveen] 01/8/2019 07:37

Remove the 3 xs.


SML looking like an interesting recovery stock at this price.

[theaviator] 31/7/2019 00:45

Looks like peeps realising was well oversold eh ;)

[yogaboy] 30/7/2019 17:02

Strong buying today. Could there be good news to come?

[theaviator] 26/7/2019 16:50

My money where mouth is. I'm a buyer here. Fundamentals intact

[theaviator] 26/7/2019 16:47

Sure is. At extended. Is what it is. I'm in and buying. Up to you. You'll never wind me Whitey. I have the dot to dot book. You keep pressing and guessing

[1bluehorseshoe] 26/7/2019 16:00

The Midas touch

[jovi1] 26/7/2019 15:28

i am out good luck you all

[theaviator] 26/7/2019 11:44

Lucky jubly

[theaviator] 26/7/2019 11:38

Hit a 1618 low extended so bought a load

[rumobejo] 25/7/2019 14:26

1p is coming...

[jovi1] 25/7/2019 13:35

dam

you can almost see it
if i sell it will get the money from the customer and will bounce a lot if i hold will have another funding with 3 months and likely to be sub 1
oh well flick a coin later

[theaviator] 25/7/2019 12:09

Target 1.19

[greatfull dead] 25/7/2019 12:06

Strategic Minerals* (SML LN) 1.35p, Mkt Cap £19.8m – Settlement of acquisition
• Strategic Minerals reports that it has now settled the acquisition of New Age Exploration’s (NAE) 50% holding in
Cornwall Resources which holds the Redmoor tin/tungsten project in Cornwall.
• Strategic Minerals has made an initial A$290,000 payment, which takes total cash paid to date to A$300,000, andagreed to make three further cash payments each of A$300,000 quarterly “before 31 October 2019, 31 January 2020 and 30 April 2020. The balance [of the A$2,700,000 currently outstanding] is then to be paid on or before26June 2020.”
• Interest on the balance of the outstanding A$2.7m is charged at “5%pa calculated on a daily balance basis, payable at the end of each calendar quarter”.
• Commenting on the revised acquisition arrangements for Cornwall Resources and the Redmoor project which he said would enable the company to build on “this potentially world class mining opportunity over the coming years”, Managing Director, John Peters, explained that “The provision of a vendor loan has assisted the Company in managing its cash flow while ensuring that any future arrangements can be planned with the knowledge that the Company has total control of Cornwall Resources Limited.”
• In our opinion, consolidating full ownership of Cornwall Resources should benefit the project through a simpler management structure while the revised schedule of payments to NAE should more closely match the expected addition of a second source of cash generation from Strategic Minerals’ Leigh Creek copper project in South Australia, where, following initial sales of copper cement which were announced in May, full production is scheduled for commencement in late 2019 / early in 2020.
Conclusion: The revised payment schedule for the acquisition of NAE’s 50% interest in Cornwall Resources should simplify the future exploration management of the Redmoor tin/tungsten project and assist Strategic Minerals in matching the staged payments to NAE with the expected build up of copper production from its Leigh Creek operation in South Australia.

[theaviator] 25/7/2019 08:25

Oh dear. Down she will go. Lower line needs hit

[jone06] 25/7/2019 07:15

CRL acquisition sorted via a vendor loan. Not ideal but with no lump payment from cobre what else can you do.

[peterbarnet] 15/7/2019 15:31

Wish I could see djryans face, bet he's busy at work pumping this hard on LSE lol

[peterbarnet] 15/7/2019 12:31

AWFUL RNS ! Sub 1p is fair value here

[jone06] 12/7/2019 15:00

Yeah, not the best advert for Cornish mining!

[troutisout] 11/7/2019 21:51

and Poldark starts again this Sunday......

[jone06] 11/7/2019 15:53

Off topic but if you are into Cornish mining then Cornish Lithium is currently crowd funding for there next phase

[sleveen] 25/6/2019 15:12

sharenotes

Prognosis good IF 4m received.

I would also like to see the large customer sort out whatever the issue is.

[sharenotes] 25/6/2019 13:29

Fair point, Plasbryn. It is posulated that the shares have been grabbed by sticky fingers (albeit, greedy ones) so they won’t find a quick route back to the market. If that 4 mill hits the coffers, the ‘bad taste’ won’t last too long. The directors give the impression that it’s a done deal. If the money does not materialise however, the ‘bad taste’ will go up by an order of magnitude. Here’s to a savoury RNS dish. I continue to hold here, assuming that will be the case.