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As you know from my other shares snaffleman I am not infallible - still tend to buy too soon and sell too early. I think I am more in tune with JLP due to 10 years of experience. Sold between 4.55p and 4.7p. Those were bought at prices ranging down from 4.5p to 2.3p with an average of 3p. Don't know if it is hard work making profits or if I just make hard work of it. Still profits better than loss. Waiting for SAVP and WRES to come good now - would settle for one of them to break out - can't win them all.
Looking at GLR and EUA but too pricey for me at the levels they are at. Bulk of my money coming back here in due course.
Well called again Kalan you recognised that a retrace was highly likely and got out (was it about 4.3p) in anticipation of the retrace which you predicted. I know your are watching closely to get back in at the optimal time. The market will have bought you more shares. I should have done the same.
Hi arry - I agree as to the reason for the fall - the support at the placing price was there and as I expected but couldn't be sure of - it proved to be temporary. We can now buy below the placing price which is at least some justice. Not bought any yet myself. No further comments - my previous post to Craig said what I wanted to say in direct response to his question.
My question was more directed at Kalan to be honest, I would have guessed your input before you posted if I knew you were going to.
I’m actually in profit on jlp with my sipp and normal trading account average price at about 2.5 p so thinking Leon has done quite well for me.
But thanks for playing
"Hi Craig - the share has been supported at the placing price by institutions mopping up shares"
..This is not true....
The value of the company has been assessed by the JLP board (i.e. Leon our very good CEO) at a value of 4p per share. They once again crippled the company value with a 9% placement. It's that simple...it's not been "supported" it's returned to what Leon instructed......Leon is a liability as CEO...about time people woke up and smelled the coffer
normally get an ops update mid to late jan - so expect interest to build in advance of that.
Good luck averaging in TT - always the best way as hitting the bottom isn't easy (as the Bishop said to the Actress) - hope to be starting buying in late January myself.
I have been buying from 4.10 down and will continue to do so - almost back to my previous full strength. Managed to buy some today at 4.01 & 4.0. Anything circa 4p is a good buying opportunity IMO and below that - how many can I get !!
News is probably quiet until Mid January so not expecting any fireworks soon.
Cheers Kalan.
I know Kabwe is going to produce but see the price dropping and the continuous hi volume sells is very depressing.
Ignore what I said about ii's not buying - it isn't very clear when I have just looked at the trades.
Hi Craig - the share has been supported at the placing price by institutions mopping up shares (I believe) - PI's have been regular sellers looking at the trade sizes.
The chart doesn't look pretty - I have 3.7p as a historical support value but 3.5p is looking increasingly likely - below that then 3.0p should hold it - there is no way that JLP should get down to 3.0p on fundamentals. Still cheap at any price below 5p IMO but of course when it's cheap it can get cheaper.
What has caused the sp to break below 4.0p - well I haven't looked but I think the ii may have stopped hoovering up - will check trade sizes in a mo. In addition the news of PGM possibility at DCM is a long awaited announcement - but it's 6 months+ before we see any revenue after the go ahead is given and the $6 million to $6.5 million price tag will have got some thinking about how they will finance it. So increased PI selling and reduced ii buying is in tune with the charts - all IMO of course and could be way off.
As for the upside - resistance will be at 3.7p if we drop below and then 4.5p and on up to 7p with a 1 year target of 9.6p+ according to my basic charting skills. What will cause a turn around - a new unexpected deal or 6 months results knocking the socks off or Kabwe running on two production streams.
Not expecting any of those before March to June.
Just for absolute clarity - I currently own no shares in JLP - first time in many years - but can't wait to get back in - forcing myself to sit on my hands.
Anyone know where the next support for this share is according to the charts.
How far is it going down and at what point do you think the next good news will fail to break the upper resistance?