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Kitco.com reports BMW is investing in the Jetti process. I just hope our new very expensive Chairman is out selling the JLP process for leaching Copper sulphides.
In my ignorance I always thought a JLP strength according to W.H.Ireland was their ability to design, build and commission their own plants. Now I begin to worry about what is happening at JLP. The company refuses to issue standard quarterly reports. Thus share holders do not know how Inyoni is actually performing, it could be on hold due to power cuts. Roan is also a mystery as to performance, with the company lowering its estimates for copper production, and Sable appears to operate as development centre.
In Aug. 2021 there was a MOU with Mopani, where JLP set out how it was going to arrive at Leopard refinery with Kitwe and Elephant concentrators. Here JLP engineers are on site, according to RNS and all copper sulphide ore is to be smelted at Mopani (a process which at the time I thought was of interest to Glencore).
Now I confess I do not understand what route LC maybe persuing, I accept he is number one technically. But I remember the PGM enriched tailings JLP had to leave behind at DCM and that these tailings now belong to Cheetah mining. At times I do not believe LC accepts the financial results of some of his actions.
I just hope I am proved totally wrong.
My understanding, and I may be totally wrong, is that Sable is currently recovering Cobalt from concentrate supplied from Roan. Now the waste dumps supplying Roan have decent Copper concentrations but very low Cobalt concentrations. But when the Northern Strategy is established in Zambia, the next group of waste dumps to be processed have vastly more Cobalt than the Roan group of dumps. Also since JLP has now solved . the problem of smelting copper concentrates, the production of Copper cathode will possibly double (25 = 50).
Thus I see the ultimate output of metals by JLP as 50 MT copper cathode, 10000 tons cobalt final product as well as 100000 plus ozs PGM metals and 5000 tons Cr concetrate.
I just hope LC gets a move on with his next step in the companies growth strategy, as at 85 I do not expect to be around for ever.
On Fri 18/11/2022 share price JLP was down 8% whilst SLP up 2%. Here JLP refuses to keep the market regularly informed with up to date informative quarterly reports, but SLP regards such reports as a must. I do not know what our very expensive New Chairman is working on for the benefit of JLP, probably nothing. But Sir surely even you have noticed the collapse in JLP share price, and with all your past vast experience must know that it is bad for a company to see its share holders bleed to death, whilst doing nothing.
I do not think the Russian missile hitting Poland was deliberate. There are a lot of Western support functions close to the Ukraine/Polish border, and it is most likely that Russia tried to stop Western arms delivery to Ukraine with a missile attack. But Ukraine shot down a Russian missile close to its border, and this crashed in Poland. But the problem of unintended escalation of Ukraine war always exists, and currently Russian copper is banned from the London metals market which must indirectly be beneficial for JLP.
IMO the cobalt slime shown on the JLP twitter feed is cobalt hydroxide, ie battery material. This is a big plus for the company. Also now with Pt at $1000 an oz. Pd at $2000 an oz. and Rh at $13000 an oz. my ball park figures tell myself that JLP is currently looking at revenue of about $2500 an oz. A very respectable return on PGMs to which can be added Cr earnings.
But in my opinion any further major rise in PGM prices will just lead to demand destruction. As LC stated JLP can not control metal prices, but it can control its costs. JLP does not require sky high metal prices, just profitable metal prices, were the company's metals processing and recovery skills can shine to a maximum.
Hopefully LC will announce current metal recovery rates, prices achieved due to sales, and situations regarding developments in Zambian copper belt, along with progress on the South African Eastern limb of the PGM bushveldt complex ; all to info arrive at the upcoming AGM.
I listened to LC recent chat on the company, twice. Whenever LC gets a technical question that is manna from heaven for himself. But if LC gets a question involving the company's share price, he kicks such questions into the long grass. For LC the company's share price is a mystery, like "The Riddle of the Sands".
LC needs to devote his efforts to the technical side of JLP. The cost to recover a ton of copper is still far too high. And it is unacceptable to bring Cobalt credits into the copper recovery costs, as these just hide how badly JLP is performing when it comes to recovery of copper.
I thought once the company got a new chairman, comms with the market would improve. IMHO JLP has more than enough work for the next at least 100 years in South Africa, Zambia and maybe adjacent DRC. I just hate the thought that our new chairman may try and drag the company into South America and or Australia.
If only our new very expensive chairman could arrange that the company produced quarterly reports, similar to those produce by Sylvania Dump Operations. But no doubt he feels such an activity is below somebody on his pay grade.
I listened to LC's lunch time chat, and he is an excellent sales man, but I have heard it all before. He trots out the same mantra time after time. Many of us have heard and understand the company business model explained over the years, and we do not require continual booster jabs. We have been promised quarterly info updates so often, that some of us regard such statements as pie in the sky. As to what our new Expensive Chairman is working on that remains a mystery.
Please LC if you are not going to give S/H's some positive info then say nothing, because your talks only hammer the Share Price.
Every time I turn on the TV the Media is having a feeding frenzy about The Market and so called Government mistakes. I am literally amazed at the number of financial experts who spout forth on TV about Government failings. I have yet to meet a financial expert who could do better in Government than an UK politician. The Media need to understand that they have a responsibility to report facts in a measured manner, not hyped as if the world would end tomorrow.
And A. Bailey is getting away with murder at present; but I believe the B O E will have to raise interest rates by at least 1.75 % by end of 2022, if inflation in the UK is to be constrained and then reduced. Bailey will not be able to put blame for interest rate hikes on Government.
As I see drill results currently, it is a matter of no news is good news, be patient. Also I invested in Eco because at times one has to speculate to accumulate. Yet the current drill in the Orange River basin for myself is well thought out, and will I believe be successful.
I am not certain all problems in the market can be blamed on the mini budget. I have a feeling A. Bailey did not raise rates high enough, nor fast enough, to choke out inflation. And we all know there is a maniac in the Kremlin. But now the B.O.E. can hide behind so called Government short comings, and themselves come out smelling of roses.
Thanks Nelson, now I understand how Petra can consider paying dividends.
I do not fully understand Petra Diamonds' efforts to reduce its debt, it looks a temporary move by myself, with debts I think returning by 2025. But if the company remains highly profitable in the mean time, it could no doubt pay off a large portion of its debts. But if PDL should find a major very rare pink diamond at Williamson then debt problems would be solved. Also I think Williamson is now the only diamond mine where one might find a very rare pink diamond of size, since Argyle shut.
From past experience I think pigs have a greater chance of flying, than S/Hs have of JLP issuing quarterly reports.
I spent more than 30 years in South Africa, and as a chem. eng. was always convinced oil/gas would be found off the mouth of the Orange River. Now I believe the current drill will strike oil/gas. And as a S/H the chances of striking condensate big time are much greater than winning the Euro Millions Lottery. So don't gamble on outside chances, take a punt on Eco Atlantic oil.
Thanks Sumoskier for Info on Mopani. Obviously the JLP team has a lot to get their teeth into in Northern Zambia ; and there is a vast amount of high quality waste in the Mopani area. Also thankfully JLP appears to have given up on CB's dream in Cyprus.
What I appreciate most about this BB is the info provided by other interested parties of JLP, thank you.
For Gotreal,
there is no need to make this BB into personal issue. Everybody has their own point of view, and you failed to observe that besides mentioning LC, I suggested that our new chairman should help out. I also have family living in South Africa, so I am more than aware of the power outages in South Africa. Hence I struggle to understand how JLP at Inyoni will perform satisfactory with the power cuts. I must also remind yourself that when Covid got going in South Africa, the comp[any regularly kept share holders updated as to how Covid was or was not affecting company operations.
Apologies all my previous post should have read JLP and not SLP.
As usual JLP is suffering from lack of communication with the market. SLP has a vast number in issue, thus whenever even small sell orders are to be executed, there are insufficient counter buy orders supporting share price.
Currently South Africa is suffering major electrical load shedding, with even mobile phone networks going down. Inyoni is currently JLP's major source of funds, but of course is in South Africa. Until LC or our new chairman fills in share holders as to effects on current SA operations, this situation remains a large negative.
The major advantage to purchasing a brown field site, as opposed to building a complete new refinery, is that a brown field site comes with a complete suite of services (electricity, water and roads). Of course currently with transport costs now difficult to control, the refinery needs to be near the concentrators upgrading copper waste. At Inyoni the plant both concentrates waste for PGMs by removing Chrome, but it also has the capacity to accept PGM concentrated tails (Windsor PGM or Windsor 8) supply.
Now Mopani I thought was the original site for the upgraded Leopard refinery, advantage it had services already present, also it was close to site proposed for Kitwe concentrator. Mopani I also believe can start on first establishment with a refinery capacity of some 19000 tons copper cathode per year, with provision to upgrade to 35000 tons copper capacity per year. But most Cobalt rich tails(owned by company) are currently in the Mopani region and the refinery needs to be constructed with a Cobalt recovery circuit. Sable can of course recover Cobalt, but the cost of transporting concentrate from North to South must be considered.
Next it became obvious over time, that the final establishment of Roan was delayed by supply chain restrictions. Thankfully LC has chosen to weigh up all options before proceeding with next major capex by JLP, subsequently the company can collect current earnings ready for expansion, and the possibility of a CB cannon exploding with a further issue of shares to fund capex can be avoided.
IMHO the company needs a share consolidation before it issues any further shares onto the market.