Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Cc temporary increase in costs to transport this material to our Western Limb Inyoni facility is offset by the strategic investment to secure the material for the Eastern Limb strategy and the long-term growth it offers."......... I didn't understand what this meant
Sounds like good progress. I would like to know what the opex costs were given that we received 30m from the placement, spent 10m more and yet cash stayed still....implies only 10m of cash received in first 6 months..... Would have expected cash to be much greater?
I agree with you JLPpositive. ...think I will change my name to JLPnegative lol......I have been in JLP coming up for 15 years and have a 34p price in mind before I sell....
01 Mar 2007 BUY JLP LSE 12,000 81.70p
my point was that if the BOD thought the results equated to a 25p share price then they would have taken a loan not undertaken a placement.
why is the price what it is? The answer is that the BOD decided that 16.03p was a fair price despite knowing all the figures in the year end results.
"September 2021
A total of 187 149 096 new ordinary shares in the capital of the Company ("New Ordinary Shares") have been placed by WH Ireland Limited with new and existing investors (the "Placing") at a price of 16.03 pence"
...and I mistakenly thought it had gone steadily down over the last six months
well said -CB is a contributor to a low share price as he cant be trusted.....again today he repeats that he has no interest in the share price!
goreal - -Anyone who thinks JLP will not issue a significant amount of new shares over the next 5 years is just ignoring reality sorry
I don't know where you spend 160m (I made it up) but can easily see the project list continuing to expand over the next 5 years. There is already of mention of Cyprus, more elephant phases, expansion into the western Limb of the Bushveld Complex. Roan cost $20m without the additional OPEX required to run it until profitable.
So my question would be this, if they needed to issued 350m shares in the last two years then on a pro-rata basis that's another 525m over the next 5 years.
Easily see a billion. A 350k shares were issued in the last 2 year.......anyone bet that won't continue to rise over the next 5 years?
Kaiser_B -
Leon/Colin are addicted to issuing shares to raise capital and Colin recently lied through his teeth when he declared "why would we issue when are gearing is so strong" only to issue more shares the same week. This not only further dilutes the share price but also worsens the already poor reputation in the market. The price is very much related to the price of metals but equally the complete and utter disregard the board has to the share price. I can easy see another billion shares being issued given the gap between future costs and revenue
... Waiting for the next placement.....
Basically they bought the remaining 20% of the tailings.
.....please help me understand why on earth would you make such a strongly worded point in an interview knowing it to be rubbish.....what damage has it done to JLP's reputation?
Jonah58...and then he says "but our gearing is so fantastic we have lined up some excellent loan facilities so we will never need to issue shares".......oh I forget that's exactly what he did says!
Colin Bird blatantly lied to us all and the market. You might find that acceptable but I don't. I don't mind further investment but I do mind about the way they treat the shareholders like dirt. We have all lost about 10% of our investment today.
I have written to JLP today to ask for Bird to be sacked for lying.
...................AS POSTED ON AUG 11th
"There may be a funding gap in the next year. JLP, despite having excellent gearing, have never borrowed significantly to fund project capital. They do however have a long history (some say addiction) of raising capital through share placements. It is a fact that Leon historically stated shares wouldnt be issued to fund a project, then immediately issued shares to raise capital therefore there is a natural reluctance to believe a recent statement saying similar!
History keeps repeating itself with JLP and they have no disregard for the share price impact. They also think lying to the market is an acceptable way to manage communication. ...............I await your humble response user Gotreal as it has now been proved without doubt the Colin Bird was lying through his teeth in his last interview when he denied a placement was coming....."why would we do a placement....why would we.
Precursor for leaving AIM and moving to Main market IMHO
The question is why might it be considered junk.
One reason... In a company that has no declared strategy about delivering share holder value then the share price is an irrevence. Everything is about expansion even if it tanks the share price
...but expenditure is much greater...
Here IMHO opinion is why the share price is lower than hoped:-
1 -We are still on AIM therefore somewhat under the radar and considered a risk - -Why is there not more talk about leaving AIM? Surely it would help.
2-There may be a funding gap in the next year. JLP, despite having excellent gearing, have never borrowed significantly to fund project capital. They do however have a long history (some say addiction) of raising capital through share placements. It is a fact that Leon historically stated shares wouldnt be issued to fund a project, then immediately issued shares to raise capital therefore there is a natural reluctance to believe a recent statement saying similar.
3- The overall strategy of the company is to "spend all the cash on expansion" therefore the long term prospect of a dividend is very small and the share price will always be restricted by 2 above. Colin Bird said in 2019 in "you cant continue forever without issuing a dividend" but shareholder return seems to have been forgotten in the boards drive to expand. A clearer statement of strategy with the shareholder more in the forefront may help
As previously stated Leon famously said similarly befors issuing more shares... It doesnt help when he uses phrases like 'we will continue to spend every penny we earn'... Why does that help?. T.. here is still alot of mistrust with Mr Bird and he remains a liability who needs to be sacked