Member Info for Basscadet

We're in for a very bumpy road here I think. Hopefully trade can re-organise to bypass the US quickly. It's being energetically worked on but no doubt a massive challenge.

He said on The Roast that it would be very detailed and clear guidance at the end of April.

Intriguing.

The copper figures need looking into (by someone with a greater ability to see the wood for the trees than me). It looks like the practicaly zero profit was due to one off events and costs and that it is actually set up to contribute significantly in H2.

Has this been delayed 6 months? Previous statement, "Expected to complete and be integrated within 10 months," From Sep 2024. New statement, "Completed Q2 FY 2026," Approx Dec 2025.

This is a strange one. JLP says the decision has been put back to mid-May because they have been concentrating on other priorities but that their due diligence studies have progressed well but then further that the deal has lapsed. I doubt all those positions can be true. I suspect it's that IRH were an absolute nightmare to work with, tried to screw JLP financially and they've consciously let the deal lapse.

I think that's right. Next generation of battery tech reportedly doesn't need cobalt. Dead duck for the foreseeable.

The lower recovery rate will mean less has been lost as well if-only. If one multiplies the source numbers by 0.6 it comes out at 283.5 lost with roughly an extra 163 a month recovered on higher grades (including 15,000 tonnes on lower grade). So, what, about 6 weeks to recover the lost 6 weeks. Caveat, might have missed something obvious / not spent a lot of time thinking about this.

They're not going to the market. They are using shares as part payment for a product for whatever contractual reason.

They tend to throw fairly random numbers in terms of forecast profit on that show. I've noticed Leon always has a moment's pause and replies along the lines of, "You can certainly expect something or other."

Full year results in the next couple of weeks.

It's not necessarily the case JLP doesn't have the cash Gray1. The current owner may have insisted on shares for part payment.

Don't be silly Gotreal. It's a genuine question.

Glad to see the company accelerating copper production and making up for lost ground. I don't mind paying for new feedstock with shares as the improved material will be worth far more than £2.7M in profit. Would be nice to see a new forecast now though and wonder who they will sell lower grade material to when presumably it's not worth anything to other companies?

Very true. JLP has so many advantages over mining companies that it should really trade at higher multiples than those traditional businesses. The market is sentiment but there will be points in time when that reality is reflected. Recent hiccups with copper ramp up and malicious geopolitcal forces creating havoc are supressing investment. At least the first factor should be revesred in the near to medium term depending on how long it takes to convince investors. The rest is just going to be a wild ride.

No chance of Apple being interested. They go after small specialist companies for specific purposes or because they're about to get caught infringing patents. Higher chance that Global Foundries or TSMC take an interest as compound semis start taking more of the market.

I wouldn't want to see it. I'd like for once Britain to look after it's IP and keep IQE here. Even if it means government support during tricky times.

I've no doubt IRH are incredibly difficult to deal with. If JLP went it alone a small delay to get past the next set of results might be beneficial to confirm and show the impact of chrome going over 2MT a year. Would provide more clout to raise in the financial markets.

He definitely did it but was so far off his face on dr*gs it's not clear whether he knew he did.

Hope it sticks.

True.