Member Info for Billyboy2fromiii

The power of copy and paste!!!!

Does make good reading though.....

I would think a 7 to 10 PE is very undemanding bearing in mind the (organic) growth potential, ESG, etc, etc...

Good to factor in the (hopefully) fully diluted share issue of approx 2,500m and still see lots of upside.

For pure interest, SLP (more mature than JLP but less growth potential) is currently about PE x9.5.

BB2.

Hi,

Assuming £100M NET PROFIT when copper in production (assuming 2,500m shares) gives EPS of 4.0p.
PEx7= 28p
PEx8=32p
PEx9= 36p
PEX10=40p
etc,etc...........
Regards, BB2

Hi,

Assuming £60M NET PROFIT for period to 30/06/21 divided by weighted avg share issue for 01/07/20 to 30/06/21 (assumed to be 2,200m) gives EPS of 2.72p.
PEx7= 19.04p
PEx8=21.76p
PEx9= 24.48p
PEX10=27.20P
Regards, BB2

Hi,

Assuming £50M NET PROFIT for period to 30/06/21 divided by weighted avg share issue for 01/07/20 to 30/06/21 (assumed to be 2,200m) gives EPS of 2.22p.
PEx7= 15.54p
PEx8=17.76p
PEx9= 19.98p
PEX10= 22.20P
Regards, BB2

Morning,

Having a look here after listening to JLP webinar yesterday. Their zin+ circuit is 40-45% complete. Restarting construction this quarter and completion expected Q3. Can any long termer explain how GLR fits into this. What is needed to feed the zinc circuit, what costs involved? What revenue are you expecting from this. Considering investing here so any info will be much appreciated. BB2.

https://webcasting.brrmedia.co.uk/broadcast/60008bbc59cf24171a328549/60056cca65d56b4493511614

This one, if not.

BB2

https://webcasting.brrmedia.co.uk/broadcast/60008bbc59cf24171a328549

This seems to still work for me but I did resister. Not sure it will work if you have not registered.

BB2

Hi,

A few bits from the Webcast, My line was not great but here is my understanding of what I heard....

BLUE CHIP INVESTORS

Important to establish a new platform level for valuation.
Obviously very excited about the NEW institutional investor. Very much sounded as though the "name" was too good to turn away. Leon said name will be disclosed in TR1. Colin referred to them being "small cap specialist".
Colin also referred to the other EXISTING institutional investor that has added to existing share holding as being a "recent" investor.

SOUTH AFRICA

PGM
Inyoni (our own plant) continues to increase the % of the total amount of PGM produced due to its efficiencies. Averaging 3,000 oz per month at Inyoni for Oct (I think that was stated) and Nov and Dec.
28k Oz PGM for 6 mths to 31/12/20 despite Windsor PGM being shut down (planned by JV partner) for MOST of December.

CHROME
Looking at 600k oz per annum, well ahead of target 450k oz.
The 6mths figures are distorted due to the higher than normal levels of stock held due to COVID border issues. This will be reflected in next 6 months figures.

TJATE
Discussions have been held. Interest in "acquiring, partnering, getting access" to Tjate. News will follow if discussions gain more traction.

ZAMBIA

COPPER

Another copper deal (4th) to be announced soon ???
Elephant construction starts late 2021, a 9 to 10 mth construction phase.
Lots of refining capacity in Zambia to take up our excess.

ZINC
40-45% construction complete. Recommence this quarter. Fully complete Q3. Will use historical tailings and fresh ore (approached by several Companies).

VANADIUM
Delayed due to price by can respond quickly to market conditions.

2021

Priority to consolidate existing projects. Unlikely to start new projects this year. However, Australia mentioned more than once as regards next possible location. Nickel mentioned.

COLIN

Plenty of life left in him yet, despite being 77. Will listen to the Board and JLP shareholders when the time is right to step aside.

So, all told a very positive update with lots to look forward to in 2021 and beyond. A small top up in my sons Junior ISA today.

BB2.

Morning,

Had anyone got a model on expected Chrome earnings? Year ending 06/20, earnings were £803,000 from 377,883 units so £2.12 per unit earnings. My model seemed to show earnings from Chrome going up by four to five times per unit due to the new fixed processing fees. The six months to 12/20 showed enhanced earnings of £1,005,000 from 319,834 units, so £3.14 earnings per unit. The update stated the rise in earnings was due to new fixed fees. However, the earnings are below my model. Have I misunderstood and expecting too much? Obviously fully understand Chrome is “the enabler” for the PGM but what was anyone else expecting from Chrome earnings? BB2.

Jammer,

Taking my last post step further....

ACAM shares received following conversion “placed” with two institutions but JLP were willing to pay part of the broker (WH Ireland) commission for the placing and issued warrants for this. So JLP
seem very keen to have got these two institutions (one new, one existing) on board. ???

BB2

Jammer,

I am probably well off the mark here but could this possibly be linked to something else. Either funding for the existing copper deals (accelerate the projects) or a completely new deal.....

As a say, probably reading too much into it but two institutions wanted in and JLP wanted them in (the RNS says to bolster up the share register). The RNS says the institutions had minimum requirements in order to proceed with the “placing” and JLP were obviously keen to facilitate this with CB and LC making up the shortfall in the amount of shares required by the institutions by selling shares that they were owed from previous year’s owed salaries.

Clearly this “placing” does bolster the share register, it does repay some expensive previous debt and it does tidy up salaries previously owed to CB and LC. But I just wonder, if there is more to this..... and more news to come???

Just a few thoughts. BB2.

Jammer,

It is quite possible that the new institution buying the ACAM shares made it a condition that monies/shares owing to Directors were “tidied up” in order for the purchase to go ahead. If JLP are “maturing” as a Company, monies owing from previous years are better to be “tidied up” ???

Just a thought. BB2

Smose,

This is separate from the warrants/options previously discussed.

Basically IN 2019 JLP took out a loan from ACAB. The term of this loan stated that ACAB could convert it to shares. Today's RNS is saying they have converted part of the loan (JLP now do not owe this converted amount) and been issued shares 9as per loan agreement) and sold these shares to institutions at 13p.

It is pretty clear the remaining loan will be converted at some stage. I will have a look later and try to calculate the amount of shares this would be converted to and post later.

This really is no big deal.

BB2.

gkb,

The insti has not got in at a preferred rate, they paid 13p.

ACAM were always going to convert (and will convert the remaining part as well). They would never be a long term holder (not what they do) so it is far better they go to an institution in one/two transaction(s).

BB2

Gray,

You clearly do not understand the RNS. This is NOT a placing in the normal sense. It is a loan conversion and share conversation of salary previous owed. If you understand convertible loan notes then you will know they will be converted if the shares price goes up enough to provide a profit. It is all in the original RNS from 2019. At the time JLP needed the money and a convertible loan was taken to provide it. That money has helped JLP get to where we are today. You cannot now quibble about the terms of the loan. Same with salary, at the time JLP needed to defer salary to save £.

The important part here is that two institutions have bought in at 13p (no doubt after much due diligence) and obviously see the sp going higher while they hold these shares.

Please take time to understand what the RNS is telling you.

BB2

Gkb,

The new institutional investors are paying 13p (no discount).

My understanding is that ACAM are converting part of their loan into shares (JLP now owe a lower loan amount) at the original conversion price and then selling these to the institutions at 13p. So ACAM have done well and made a nice gain (which they are entitled to from loaning JLP £ in 2019). The institutions (one existing, one new) are NOT getting in at a discount. The fact that they want to invest at 13p is good news for l9ng term holders. The dilution of this was always going to happen (at some stage) as ACAM would be mad not to convert at the conversion price as they can then sell at current sp.

Again, my understanding is that this will not provide funds for expansion as the existing loan will be reduced rather than JLP actually receiving the £. ????????

BB2

There is a webcast tomorrow regarding PGMs.

https://www.brighttalk.com/webcast/17849/457026?utm_campaign=communication_reminder_24hr_registrants&utm_medium=email&utm_source=brighttalk-transact&utm_content=title

BB2

The two sells at 12.30 ish on 31st could well have been a bit of year end profit taking?

BB2.

gshivers,

have a chat with bullster on the other site. He has a good barometer that he updates monthly.

BB2.

Jammer,

Good points.

A conservative view would be to look at PGM/Chrome for period to 30/06/21 (any copper would be a bonus). Hopefully add copper/cobalt for Roan for period to 30/06/22 and hopefully add copper/cobalt for Elephant for period to 30/06/23.

BB2.