Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Thanks, LJS
There are a lot of excellent posts on this thread. While, as I said, Colin did an excellent job getting JLP where it is today I also believe that he had taken it as far as he could and a change was overdue by the time he left. The company, under the new management team have taken it to new levels as stated by NTF, gotreal and MS.
NTS - just for clarification. In my previous post I agreed with Charles432 that Leon is an engineer who enjoys solving technical problem. At no time have I stated that he was " Just an engineer". I invested in this company because of Leon many years ago when he was running Braemore.
If I have have given you that impression, I apologise.
Totally agree NTD, Its becoming very apparent Neal is doing an amazing job. I get the feeling of restraint on Leon for the first time. A discipline that was much needed. He will have a thirst for income, not just potential. But we also have to commend Ollie. There is a real structure to the company and i cant help but feel his influence is reflecting in the company status. Hob nobbing with the like of RBC and IRH. Now its up to Ricus to really earn his stripes. 2 small licence agreements in the bag! A target of 50! His influence is already showing with the success so far. But still a long way short of 50! Come on Ricus its challenge 50 time!
Agree NTD and I wouldn't discount the hand of Ollie on the tiller, either....
Good Morning. I thought I would just add - even if Leon is "just an engineer" and focussing on technical envelope stretching to the detriment of anything else as suggested in the postings, this should not become visible to us.
So far the CFO seems to have enabled a structure where there are seniors very focussed on not only growth but ongoing production. The next stage of the CFO job is to maximise those streams - build a communications process that ensures the dull things to hit targets are highlighted, made visible and given owners who feel accountable in the process so they get done - each quaarter the revenue and profit challenges are addressed via this process. If you havent rolled this type of comms out, you would be amazed how effective it can be in focussing a large team and driving a business to close out elements that lead to maximisation of financial performance. This should allow Leon to focus on the horizon and where we are going - something I think we would all agree he has a knack for.
I really do think that the CFO will make the difference here - businesses are team efforts and often financially perform despite a founder / CEO alleged frailties in certain areas.
If only - excellent post, sums up exactly what i feel. I have been holding/building for 20+ years. I believe its all coming together soon, IRH, RBC, Zambia and the coming Copper price boom. Excellent BOD with vast experience. The low volume really surprises me, perhaps we are just so well ahead of the game. 5-10 bagger within the next 5 years if allowed to grow
Northern
I agree with the statement that Leon (I got the spelling right this time! 😂) is an engineer who likes solving problems. However, as someone said recently " Africa is an extremely difficult place to operate in."
I personally believe Leon ,and Colin, have done a fantastic job getting is where we are now. Like many long term holders, I would have been much happier if copper had been produced much earlier but when you invest in small companies you have to expect many bumps along the road to success!
Recent events should move things along much quicker now. As the saying goes "patience is a virtue".
If Only,
If that is the case then I would politely disagree and venture a different opinion. Some people forget or ignore what has been built over the last few years - I don't.
I understand frustrations and as Leon has admitted they made quite a serious error when getting copper started in Zambia.
I recognise the past but also look to the immediate future which has a whole host of opportunities - some as the Mining Minister for Zambia commented is because Leon and the team are very good at what they do.
I believe Charles's last paragraph is basically saying that lion is an engineer who's interested is designing solutions to resolve problems. After the problem is resolved he moves on to the next problem rather than concentration on producing the goods!
Gotreal, I don't understand what the last sentence refers to unfortunately so not in a position to comment. If Charles would like to provide some detail then happy to venture an opinion.
ATB
Northern
What about the last scurrilous comment, Northern?
Charles, you could be right or it could be a function of a particular batch of the particular feedstock in the period. I don't know for sure either way.
I remember discussion at the AGM regarding the feedstock as with the new modules they should have a lot of excess PGM material from the processing of the new chrome sources. My personal view is they will switch the third party processing on in Q4 to go through some of this.
ATB
Northern
Not worth commenting on that....
Put your tin hat on Charles after that post. I've hidden behind the sofa:)
The Ftsee 100 is at record levels but JLP continues to weaken. As long as I can remember when Chrome prices are up so PGM prices are down, and the reverse is true. Thus one would expect JLP to concentrate its efforts on recovering the most profitable mineral in SA, as sound business practice, and not as new wisdom as some attribute to LC.
For Q1 FY 2024 Inyoni PGM production increased to 10113 ozs from Q4 FY 2023 9350 ozs due to increased feed from the Thutse new module. And the RNS states this process is expected to continue as the Thutse Processing Module operates at design capacity.
But for Q2 FY 2024 PGM production fell back to 8339 ozs, due the RNS states to reduction in available stock of lower grade PGM feed material being available. Yet I remember Inyoni as built on the site of the old Hernic PGM recovery plant, where there are literally millions of tons of historic low grade PGM tails waiting to be processed by Inyoni. Thus the above is maybe another LC hidden problem, he never admits to any problems.
For myself in Zambia JLP operates strictly according to Murphy's law: If it can go wrong, it will go wrong : And this situation will continue until the salaries of LC and the BOD are linked to share price performance.
LC built built his private test centre in SA in record time, and this is where his major interest lies; not in ensuring after some five years Roan produces copper concentrates.
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