SML Appointment of additional UK Director, page-10

ah subs.. pretty sure you were promoting Lochinvar back then.  Particularly when they revisited the scoping study this time last year.  I tried to point out that all they were doing was refreshing the coal price and exchange rate assumptions but you assured me they weren't.  Well truth finally came out in the last quarterly

"The Scoping Study Update NPV improvement (2014 Scoping Study NPV was US$263M) has primarily been driven by depreciation of the British Pound Stirling (GBP) against the USD following the outcome of the Brexit referendum, and by high demand for high volatile coking coals in Europe resulting in reduced quality discounts (i.e higher realised price) expected for Lochinvar coal sales into Europe"

I was just highlighting in my previous post that Gary is supposedly a coal guru from BHP but he was incapable of doing sufficient technical work on Lochinvar before pulling the trigger on a cap raise to fund a drill program that was doomed to fail. Anyway...fully agree that they should focus on something else and sell Lochinvar...has been a waste of time and money.   

As for Redmoor, yes agree it has potential.  But then they sold to 50% to Strategic at a pretty low price...just happens that Allan Broome sits on the Board there.  No conflict of interest is there.

As for Top 20, I've been in it for a while, no special achievement there you need less than $50k invested to make the cut.  Where's Gary on that list...oops that's right he wouldnt dare put that sort of capital into his own company