Member Info for Billyboy2fromiii

ICB,

No worries.

Yes, we very much on the same page.

For the record, I emailed JLP yesterday to ask about the amount outstanding and to say the date in the RNS was wrong and that the title “Issue of Equity” could be misleading as all other similar RNS have been titled “Exercise of Warrants”.
Pleased to say I got a prompt reply and then soon after the correction RNS was issued with correct date and title.

Regards, BB2.

ICB,

I actually am Billyboy2fromiii (same as here) on ADVFN.
As for being a moronic deramper. I actually own close to 4m JLP which are pure profit as I sold 1.2m at 12p to 20p to cover my entire original stake. I am actually extremely positive re JLP and very much looking forward to a few years time when hopefully I will receive a very nice dividend. So certainly NOT a moronic deramper.
I have posted the current outstanding warrant amount (have updated this over the last few months) for the purpose of accuracy as there are often incorrect figures mentioned here.
I fully agree that the remaining warrants are inconsequential in value.
However, you do make a good point regarding today’s RNS. If you look back at the original 2018 RNS, the two institutional investors taking the placing shares were Miton and Veddis. Assuming they are indeed the warrant holders exercising today then hopefully they will hold for much larger future gains rather than selling for a quick profit.
Regards, BB2.

Chester,

I have had an email reply from the Co. It is a little unclear but I think I now understand.........

Basically, the stated 921,940 (6.12p) warrants outstanding (from the 62,500 originally issued) were from the 2018 placing. However, there was an additional separate 2,777,778 (6.12p) warrants issued at the same time as the 2018 placing. These additional warrants are separate to the stated 921,940 (6.12p) warrants referenced in today's RNS. On that basis, my understanding is that there are a total of 3,699,718 (6.12p) warrants outstanding with an expiry date of 19th Jan 2023.

I do not agree with your comment regarding the 3.375 warrants. These have ALL been issued (see RNS 24/03/22, 14/09/22, 04/11/22 and 19/12/22) and none remain outstanding.

Apart from the 6.12p warrants that expire tomorrow, the only other outstanding warrants are;

750,000 at 3.40p which expire 22/06/2023
4,036,431 at 13.0p which expire 21/01/2024.

So, a total of 8,486,149 which will reduce to 4,786,431 after the 6.12p warrants are either issued or expire tomorrow (19/01/23).

BB2.

Hi,

I have emailed Co to ask why my o/s warrant figure is different to RNS o/s warrant figure.

BB2.

From my records, my research (based upon 2022 Annual Report and subsequent RNSs) shows the following warrants are outstanding.....

3,699,718 at 6.12p expiry date 19th Jan 2023, issued 19th Jan 2018. This figure does not tally with RNS o/s amount (921,940).
750,000 at 3.4p expiry date 22nd June 2023, issued 22nd June 2020.
4,036,431 at 13p expiry date 21st Jan 2024, issued 21st Jan 2021.

Total outstanding 8,486,149 (my records) 5,708,371 (using RNS o/s amount)

This research assumes that the 7,818,750 at 4p expired 19th Nov 2022 have now lapsed.

BB2

Always,

Yes, a bit odd. However, my figures are based upon info released via RNS. There has been no mention of these 4p warrants and hence why I am assuming they have now lapsed.

BB2

Heroic,

This is from a previous post of mine but it gives the current outstanding warrant info…………..

This is an update to my previous post on 24th November taking account of today's RNS. For the record, there are now circa 40m warrants outstanding the most recent of these being issued nearly two years ago on 21st Jan 2021. On that basis, I maintain that these outstanding warrants are "historic" and certainly not recently issued.

For the record, my research (based upon 2022 Annual Report and subsequent RNSs) shows the following warrants are outstanding.....

35,859,164 at 6.12p expiry date 19th Jan 2023, issued 19th Jan 2018.
750,000 at 3.4p expiry date 22nd June 2023, issued 22nd June 2020.
4,036,431 at 13p expiry date 21st Jan 2024, issued 21st Jan 2021.

Total outstanding 40,645,595

This research assumes that the 7,818,750 at 4p expired 19th Nov 2022 have now lapsed.

BB2

True,

Which Companies?

Good update imo.

BB2

19th Jan 2013 should obviously read 19th Jan 2023...

As such.....

Agi,

This is an update to my previous post on 24th November taking account of today's RNS. For the record, there are now circa 40m warrants outstanding the most recent of these being issued nearly two years ago on 21st Jan 2021. On that basis, I maintain that these outstanding warrants are "historic" and certainly not recently issued.

For the record, my research (based upon 2022 Annual Report and subsequent RNSs) shows the following warrants are outstanding.....

35,859,164 at 6.12p expiry date 19th Jan 2023, issued 19th Jan 2018.
750,000 at 3.4p expiry date 22nd June 2023, issued 22nd June 2020.
4,036,431 at 13p expiry date 21st Jan 2024, issued 21st Jan 2021.

Total outstanding 40,645,595

This research assumes that the 7,818,750 at 4p expired 19th Nov 2022 have now lapsed.

BB2

Agi,

This is an update to my previous post on 24th November taking account of today's RNS. For the record, there are now circa 40m warrants outstanding the most recent of these being issued nearly two years ago on 21st Jan 2021. On that basis, I maintain that these outstanding warrants are "historic" and certainly not recently issued.

For the record, my research (based upon 2022 Annual Report and subsequent RNSs) shows the following warrants are outstanding.....

35,859,164 at 6.12p expiry date 19th Jan 2013, issued 19th Jan 2018.
750,000 at 3.4p expiry date 22nd June 2023, issued 22nd June 2020.
4,036,431 at 13p expiry date 21st Jan 2024, issued 21st Jan 2021.

Total outstanding 40,645,595

This research assumes that the 7,818,750 at 4p expired 19th Nov 2022 have now lapsed.

BB2

3card,

Clearly you do not understand the warrants are historic. I generally find that if I do not understand something then it is best not to comment about it and rather research it further until I do understand and are able to comment on it.
I will update my previous remaining inc warrant list a bit later and this will show you that the current warrants outstanding are historic and JLP do NOT “keep issuing…”
If you do not understand why these are historic warrants, please ask and I will explain why they are historic.
BB2

Hi,

Sorry about this being off topic.

Does anyone here know the value of gold sovereigns and half sovereigns. My parents have been left a bag of them, apparently including a “Black Guinea”. Are they just values at their weight in gold etc.

I seem to remember some on here have mentioned these previously, so wanted to ask.

For the records I am a holder of 750k Hum, massively underwater. Hoping that Q4 is the turning point for us and waiting (very) patiently for Kou to be delivered by end Q2 on time and on budget…..

Sorry again for off topic.

Good luck to all holders here…

BB2

Ok, thanks for that.

Hopefully, the JLP slice will be quite a bit bigger in a couple of years or so, especially if the Northern Strategy takes off as referenced in the podcast.

Hi Seis,

Is that pie chart on Cobalt your own work ? Just wondering where you sourced your figures from.
On a side matter, I have just listened to the Sunday Roast podcast from late October. Would seriously recommend a listen to all.
BB2.

https://www.mining.com/copper-rises-while-goldman-predicts-prices-reaching-11000-in-a-year/

https://www.forexlive.com/news/goldman-sachs-boosts-copper-price-forecasts-to-record-20221208/

https://oilprice.com/Latest-Energy-News/World-News/Mining-Giant-Glencore-Sees-Huge-Deficit-In-Copper-Coming.html

https://www.mining.com/web/column-copper-mine-supply-wave-arrives-but-will-it-be-the-last/

BB2

Hi Dorfan,

You've got me doing some maths this morning (just to check my understanding).......

To achieve 0.6 SA cent EPS....
0.6 SA cents currently equates to 2.9 GB pence ( using google conversion this am at £1 = 20.9 Rand).
Current share issue 2,689,854,150 (obviously a few more pending warrants will increase this soon).
So to achieve that EPS (based upon current share issuance) , net profit after tax would need to be (net profit/share issuance) £78m for year to 30th June 2023.
In my opinion, for what is it worth, even if we were to hit the magic "earnings" of $100m which currently equates to £82m then the net profit after tax would be (substantially) below £82m, thus making EPS of 2.9p way too optimistic........
Personally, I would be delighted with EPS initially getting to 30 June 2021 figure of 1.81p (38 SA cent) which would (assuming current share issuance) mean a net profit after tax of approx £49m. This would put us currently on a PE of 6.24 (using last nights closing mid price of 11.3p).
Happy to discuss this with you or others....
BB2.

Hi Dorfan,
Thank you for reply and for backing up your thoughts with your reasoning. Obviously the $100m to (30th June 23) is debatable and largely dependent on commodity prices for the next six months....
However, one point to consider. You are basing your EPS (and thus PE) on the magic $100m figure. However, EPS is calculated upon Net Profit after Tax which is (very) different to Earnings/Gross Profit/EBITDA. On that basis, even if $100m of earnings are achieved that figure will not translate into EPS/PE. I am not am expert on this and happy to be corrected. However, just wanted to discuss this and add balance to your thoughts/reasoning to avoid any unnecessary resulting disappointment.
For the record, I hold a few million JLP, and (very) positive on the future and very much looking forward to future dividends in (hopefully) three years (imo) or so.
Thank you (and others) for your continued input here.
BB2.

Hi Dorian,
Don’t understand your 60 cents, please elaborate. What are you expecting H1 23 and FY 23 to show.
In my opinion, I really do not think we will see a dividend no matter how much profit this year (or even next). Hopefully, after that……..
However, I do think the dividend, when appropriate, will be well worth the wait.
BB2.

Claire,

What about the debt? How will this be repaid? Very small reduction in this period......

BB2

I am watching this with interest. I believe 50% revenue is Financial Services and 50% Property (of this 50% Property, 80% is Lettings and 20% Est Agents). I believe 60% gross profit is from Lettings. Happy to be corrected should others have input. The Lettings profit should be resilient….
However, I believe there is £8.2m loan to be repaid, £445k in Dec22 and £7.8m in March 23. Cash at 30th June of £5.7m stating to be repaid from cash but may possibly need to refinance?
Any input from others?
BB2