Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

4 Pages (Click to Jump) V   1 2 3 4 >   
 
  
Reply to this topic

SUP, SUPERIOR LAKE RESOURCES LIMITED
blacksheep
post Posted: Nov 14 2019, 10:41 AM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Oct 10 2019, 12:31 PM

Late/after the market close yesterday, announcement - Departure of CEO
QUOTE
Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Company”) advises that Chief
Executive Officer (“CEO”), Mr David Woodall will be leaving the Company. Mr Woodall will continue in the
role of CEO in line with the terms of his employment contract, until a handover of responsibilities to the
Board has been completed. The Board would like to thank David for his contribution over the past number
of years and wishes him well regarding his future endeavors.


He certainly seemed well qualified for the job - what went wrong?

Release Date: 09/04/18 08:19 - Appointment of CEO - Mr David Woodall

QUOTE
Superior Lake Resources Limited (“Superior” or the “Company”) is pleased to announce
the appointment of David Woodall as its Chief Executive Officer (“CEO”) to promote and
oversee the day to day progress and development of the Pick Lake and Winston Lake
high-grade zinc mine in Ontario Canada.

David is an experienced Mining Engineer who graduated from the WA School of Mines
in 1984 and also has a MSc (Mineral Economics) and graduate Diploma in Business. He
a member of The Australasian Institute of Mining and Metallurgy as well the Australian
Institute of Company Directors. David’s Canadian experience as well as his mine
development and operational experience is key to ensuring that the Winston and Pick
Lake mine is transitioned back into production successfully.


David previously held senior corporate and executive operational roles at Newcrest
Mining, Fortescue Metals Group, the Ivanhoe Mines Group and Placer Dome. Over the
last 30 years he has been involved in mining operations in Australia, Fiji, Central Asia,
Indonesia, China, PNG and North America
.

Grant Davey, the executive director commented: “I am looking forward to working
closely with David over the coming months to develop and promote our strategy in
reviving the production from the Pick and Winston high grade zinc mines. David’s
credentials and experience ensures that we have another industry leader who is
experienced in developing and operating this world class mining opportunity
successfully”.





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 10 2019, 12:31 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Oct 10 2019, 12:08 PM

What a guy lmaosmiley.gif The SUP ramper is ramping for the good of "THEM" not him

QUOTE
No pumping here,reason I'm telling everyone about SUP is for THEM not me.

Im sick and tired of seeing those with confidential information jump in and accumulate first.

Heres a chance for anyone to make some great gains ,good money .

And a chance for me to give back.






--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 10 2019, 12:08 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Oct 2 2019, 11:37 AM

Seems someone is dumping SUP shares - 11.3m traded so far today And that's comes after media speculation/confirmation possible offtake proposals in the making and yesterday's confirmation of an extensive conductive body.

We have one very excited baggie on HC and twitter telling everyone it's a "tree shake" before the drilling announcement. Toga Kumova telling people - "He is doing it intentionally but won't hold a good thing down for long..." baggie responds - "Tolga I got some more $SUP and cheap we know we're gonna 10 bag! ". and "heres proof of tree shake ,I'm buying as much as I can" citing Tolga's post.

According to shimmer on 9/10/19 - "mine life was only problem l could see here. If results confirm, we will see a major make their move. To cheap here best zinc play on asx"
After Tolg'a post the day before - "Now this looks like it's going to increase mine life. Attractive target especially if the grades hold up. I wonder who is doing all the selling.". Great minds think a like.

Mine life - tick
Grades - tick
Major making a move at these low prices - nup. Maybe the major is waiting for SUP to 10 bag before making a move biggrin.gif like the HC crew

Whoever has been selling is not waiting for further results, nor for a major to make his move . Maybe he really is a "tree shaker" afterall biggrin.gif Although the SP hasn't got a lot of "shaking" left in it. Stay tuned.



Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 2 2019, 11:37 AM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Sep 29 2019, 07:08 PM

Shouldn't SUP clarify how The West Australian newspaper got the names of the unnamed non binding offtakers (mentioned in their July ann?

QUOTE
Clarification of newspaper report
Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Company”) wishes to clarify a report in
the edition of The West Australian newspaper published on Saturday 28 September 2019.

As announced by the Company on 5 July 2019 (see ASX announcement “Update on status of BFS, financing
process and offtake”) the Company has received non-binding indicative proposals relating to offtake for
its Superior Lake Zinc Project. The Company confirms that proposals have been received from the parties
named in the above-mentioned newspaper report, Glencore, Trafigura and IXM.
While the Company
continues to hold discussions with these parties, there is no agreement, no formal offer has been received
and there has been no material change since the announcement of 5 July 2019.


As announced by the Company on 5 July 2019
QUOTE
Finally, the Company continues to receive strong interest from global metal traders regarding the zinc and
copper concentrates expected to be produced at the Project. This interest has resulted in two indicative
proposals being received by the Company to date. These proposals provide guidance on pricing,
treatment and refining charges and production specification. Receiving such indicative proposals from
leading international metal traders highlights the quality of the concentrate to be produced at the Project,
with favourable grades and minimal deleterious elements.

These proposals are the first step towards securing binding offtake agreements in the future.


Attached thumbnail(s)
Attached Image



 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 30 2019, 02:20 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Sep 29 2019, 07:08 PM

Did SUP get a please explain?

QUOTE
SUPERIOR LAKE RESOURCES LIMITED (ASX:SUP) – REQUEST FOR TRADING HALT
Superior Lake Resources Limited (ASX: SUP) (the “Company”) requests an immediate trading halt on its
securities pending an announcement clarifying media speculation.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 29 2019, 07:08 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Aug 27 2019, 10:54 AM

OK - word on the street is, according to HC love heart and Tolga Kumova supporter shimmer, the explorer, with a MC of just $16million, has just signed MOU's with metal trading giants Glencore, Trafigura and Swiss Group IXM. Shades of Glencore take over rumours of SYR for $2 billion back in the day

Of course MOU's don't really mean much - and this news comes before SUP has released results of their drilling campaign which they announced commenced 19 September 2019 - you'd think these big A-lister players would at least wait for results? Or do they already know?

QUOTE
Drilling commences to test the first major near mine target at Superior Lake
Highlights
• The Company has commenced a drilling and Down Hole Transient Electromagnetic (DHTEM)
exploration program to test three geophysical targets at its Superior Lake Project
• The first hole will test the Pick North target which is located 500m from the Pick Lake deposit
Results of the drilling and the DHTEM survey of the first target are expected during October


QUOTE
A memorandum of understanding (MoU) is a type of agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used either in cases where parties do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement. It is a more formal alternative to a gentlemen's agreement


QUOTE
See my tweet @hudgeman1977 for the A listers coming for SUP

Attached thumbnail(s)
Attached Image

Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


blacksheep
post Posted: Aug 28 2019, 01:26 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Aug 27 2019, 10:54 AM

Bankable Feasibility Study confirms Superior Lake as a High Margin Asset
QUOTE
Detailed Highlights
• Bankable Feasibility Study (BFS) results demonstrate a highly economic and robust Project:
o C1 Cost – US$ 0.35/lb Zn
o AISC Cost – US$ 0.47/ lb Zn
o NPV8 pre-tax US$157M (A$224M)
o IRR 31% (pre-tax)
• Key Feasibility Study results include:
o EBITDA at full production – US$59M pa
o Life of Mine average EBITDA of US$36M (A$50M) per annum
o[b] Initial capital expenditure of US$86M (A$106M) excluding owners and pre-production[/b]
o Life of Mine of 9 years
o Annual production (after ramp-up) of 38ktpa contained Zinc and 1.4ktpa contained
Copper
• Key production figures:
o Plant throughput 325,000 tonnes per annum
o Total 2.2 million tonnes treated
o Average grade: 13.7% Zn
o Average zinc recovery: 96%


Yesterday's ann suggested indicative project finance proposals received in the range of US$50 - US$70 m for the development of Superior Lake. According to below extract from today's ann that leaves a shortfall between US$30 - US$50 m to be raised via equity - that's of course if capex estimates do not overrun - which is rare, IMHO

QUOTE
To achieve the range of outcomes indicated in the Study, funding in
the order of US$100 million will likely be required for capital works, preproduction capital costs, contingency and working capita
l. It is
anticipated that the finance will be sourced from a combination of
equity and debt instruments from existing shareholders, new equity
investment and debt providers from Australia and overseas.


Also from today's ann - no Measured? I would have thought any financier of any project would require at least a portion of the resource to be Measured /Proved Resource - providing greater certainty?.
QUOTE
sThe Bankable Feasibility Study referred to in this announcement is
based on Probable Ore Reserve and minor amounts of Inferred
Resources. The Probable Ore Reserve is based on Indicated material
only, which makes up 93% of the total milled tonnage
(7% Inferred
material) and 90% of the total contained zinc metal (10% Inferred).
There is a low level of geological confidence associated with Inferred
Mineral Resources and there is no certainty that further exploration
work will result in the conversion of Inferred Mineral Resources to
Indicated or Measured Mineral Resources or that the production
targets reported in this announcement will be realised
.

The Study has been prepared with accuracy of +/- 15%. There is no
certainty that the conclusions of the Study will be realised.





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 27 2019, 10:54 AM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Aug 9 2019, 02:28 PM

Mixed messages?. AFR names the firms that are interested in funding the project and suggests these firms have been spotted at SUP - Sprott, SocGen spotted at Superior Lake Resources. AFR also mentioned "no comment" from SUP - so where did they get the info from? https://www.afr.com/street-talk/sprott-socg...20190826-p52kq9

Official announcement suggests - "The Company expects to select a short list of preferred financiers, after which it is anticipated that the process will involve site visits, legal and technical due diligence and documentation"

QUOTE
Superior Lake Resources Limited (ASX: SUP) (“Superior Lake” or the “Company”) is pleased to announce
that pursuant to the financing process that commenced in May 2019, it has received multiple non-binding
indicative proposals for financing the development of its Superior Lake Zinc Project (“Project”) in Ontario,
Canada. These proposals range between US$50m and US$70m.

The financing process has been managed by Orimco Resource Investment Advisers (“Orimco”), an
independent advisory firm, specialised in funding solutions for emerging producers in the resources sector.
The Company continues to work with Orimco in evaluating the merit of each proposal.

The Company expects to select a short list of preferred financiers, after which it is anticipated that the
process will involve site visits, legal and technical due diligence and documentation


This "speculation" is of course helping the SP which is up 13.33% currently @ 1.7c



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 9 2019, 02:28 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: blacksheep's post @ Jul 9 2019, 02:53 PM

SP up 13.33% @ 1.7c - volume 1.3mil.

Last cash flow indicates they held- $1.6m in kitty with $1.8m estimated outflows, with some proceeds from recent CR received in current quarter which gave a cash balance as at 3 july of $4.1m of which they'll probably have half in kitty at the end of this quarter.

They took a bunch of stakeholders/investors on a site trip last month, so stands to reason further funds required in the not too distant future. Will need the SP to go a little higher first, no doubt

Forgot to mention - BWEquities bought out a "research note" with a target of 6.5c - a sure sign another CR on the horizon and also who is undertaking

https://gallery.mailchimp.com/b7e7c318ec8f2...ties_290719.pdf
Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 9 2019, 02:53 PM
  Quote Post


Posts: 6,783
Thanks: 2303


In Reply To: nipper's post @ Jul 9 2019, 01:36 PM

QUOTE
but what do they mine? - ah, nothing yet; perhaps, one day


Haha - the problem might be that these tenements were already mined some time ago - see previous page where I posted some research on the previous owners/miners. According to that data Winston Lake was shut back in 1998 due to it being uneconomic/largely mined out and the other project, Pick Lake, due to geotechnical issues.

Question is - can the new owners magically overcome these issues. I'm guessing the market currently is not convinced they can. Will be interesting to watch



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


4 Pages (Click to Jump) V   1 2 3 4 >

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING