Member Info for charles432

When JLP entered Zambia the company purchased North of 300 million tons of copper sulphide waste tails, some of which contains recoverable cobalt in the form of cobalt hydroxide. JLP established Roan in Zambia as a large centralised copper concentrator using sulphuric acid to leach out copper sulphide from part of this waste mountain , and Roan was expected to produce 10000 tons copper sulphide concentrate per year.

Todate Roan has been an expensive failure. Sulphuric acid is expensive, difficult to use, dangerous and destroys the environment. Result the company gets a poor ESG rating. Also copper sulphide tails which have had one historic acid leach are not that responsive to a second acid leaching .

However in Aussie (Perth) it was realised that the use of cyanide , sulphuric acid etc, by the mining industry was totally detrimental to environment. Thus research was conducted into alternative leaching agents, of which Glycine proved successful. Glycine is readily available, cheap to use and aids the environment. This Aussie process was acquiured by the Czeck company Draslovaka for $ 30 m. The company is now offering Gly - leach to the mining industry. It is now expected that Gly - leach will successfully replace sulphuric acid at Roan as the leaching agent, saving LC from falling off the cliff.

In the interim JLP needs a cash flow from copper in Zambia. When one discovers a copper ore body, typically the outmost layer is weathered down to low grade copper oxide , with the massif of the ore body high grade copper sulphide. Historically when mining for Copper in Zambia the outmost layer of low grade copper oxide was abandoned as rock, uneconomic for processing, with a copper concentration of 1.5 = 2.5% . Now JLP drawing on its experience of recovering chrome (and PGMs) from waste mine material in S.A. has come up with a small concentrator, cabable of producing a copper oxide concentrate of + 5% copper oxide (proviso that starting concentration is at least 1.5% copper oxide ). Sable can process this coper oxide concentrate to copper cathode. This small concentrator costs about $3 m and one such enables Sable to produce 3000 tons copper per year. The first of these small concentrators is being installed in the front end of Roan, with a second one going in at project M (location a LC secret). I assume for logistical reasons project M is a JV close to Sable.

The above situations are in reality a point for LC such that the proof of the pudding is in the eating. For share holders recently with LC it is like the " Charge of the Light Brigade " membership.

I track PGMs continually at Kitco.com. My current take on PGMs is that there maybe more pain ahead , Palladium appears to be reversing back to its old levels about $600/oz, whilst Platinum appears to be slowly gaining and moving above $1000/oz. Traditionally Pt was always worth more than Pd , but the catyalytic converter manufacturers juggle ratios of Pt, Pd and Rh according to price, and they are the major consumers of PGMs.

BT go home and wash out your nappy as you were shown by your mother.

The UK pays Bailey's salary, yet he appears to think the UK is rubbish. If I went to work and voiced negative views (similar to Bailey's approach) about the company the Boss would show myself the door out.

One reason UK inflation remains so high is that Bailey was slow to raise interest rates. Bailey seems to believe the era of low interest rates can last forever. Whereas interest rates in the UK have always been around 5% ; and it is only since the financial crash of 2008 that the UK has been addicted to low interest rates.

The problem with ultra low interest rates is that they do not encourage savings , also remove an area of competion between Banks as to which will offer most beneficial savings rate. These ultra low rates result in less savings and hence less capital in country for investment. Thus growth falls in the UK , which appears to be a problem for Bailey. But Bailey fails to recognise that low interest rates just maybe have led to low investment and hence low growth in the UK , one of his major moans about the UK.

Shatner thanks for link to midweek takeaway with LC , enlarges what said at presentation. Charles.

Cameron has gone to Gazza and promised them £30m in extra aid, more UK tax wasted on extreme Islamic fanatics. They murdered women and children and now we reward them; we must be cuckoo. The Islamics parade through London and violate our War Memorials , these people will never assimulate into our culture. The looney left must understand they only wish to impose their way of life on Anglo Saxon Brits , I say we already have enough; no more Mosques, try and build a Church in an Islam country.

The Dutch have had enough of Islam, and they used to be one of the most Liberal Countries in Europe , a founder member of the E.U. The UK is coming up behind.

When Labour come to power we are sure to get a Bank Levy, as Reeves will be desparate for cash as taxation will not provide enough for her dreams. Now it is quite obvious that the UK tax payer can not go on providing vast sums of tax to support illegal migrants, millions a day leads to billions a year spent on illegals (about Bn £3.5 current year).

One solution I have seen proposed to handle illegal migrants is to send them to a Scottish Island. There are a considerable number of Scottish Islands, once inhabited now abandoned, but with an outline of infrastructure still in place. The illegals could build their own accommadation on an Island, and would need no security, as that wouild be provided by rough sea. These Islands are part of the UK.

Now the left wing politicians talk continuously about an inclusive society, and Blair was the God of Multiculturism for the UK, but what all these people === Fail to Understand === is that their policies exclude Poor White UK Youth. The result is violent riots as recently seen in Dublin , where white youth voice their frustration at being left out of society, excluded by migrants.

People need to remember Charity begins at Home.

Gotreal, well at 86 I have just had another hospital visit, so not up to speed like yourself. But an issue on this board for myself is that Gotreal , you are 100 % positive about JLP, conversly Bushy Tailed is 100 % negative about JLP. Whereas experience tells myself that the true situation for JLP , at this stage of its development, lies probably towards the mid point of your two view points. Company development takes time and is difficult, but with clear vision can be achieved.

I hope the Fri. presentation is not going to be another talkie/talkie by LC, where he repeats so much of what he has said in the past. Also JLP appears to be getting more and more top management, a great cash job if you can get one. When things go wrong, "Not my fault Guv. we was trying something entirely new. "

Only earnings accruing to the bottom line can save the company share price, which appears to be no concern of the B.O.D. Please LC no more expansion, just get the established plant to operate correctly. For myself Sable and Roan have turned into mirages in the desert.

Now I note from the 17 Nov RNS that all the PGMs recovered were sold, but the situation with chrome concentrate is different. The company produced 1289890 tons chrome concentrate, with capacity north of 1450000 tons chrome conc. per yr. But silence as to how much chrome conc. sold, or committed to contract. I remenber CSM where the company stock piled enriched PGM tails. Share holders were assured in RNS that this stock pile would remain JLP property. Not true, JLP never owned the freehold where enriched tails stored; consequence this asset passed for free to Cheetah mining, a Chineese company..

There is no future in JLP becoming the number one producer of Chrome conc. if the company does not have guaranteed off take agreements for Chrome conc. Debeers is the number one producer of diamonds, but also in order to stabalise the market acts as the purchaser of last resort, when diamond supplies flood the market. LC and his team are very much engineers, and I querry their capacity currently for managing the Chrome conc. market. The problem is that with so many of JLP's activities, is that they remain a mystery tour for company share holders.

I think it is time the B.O.E. reduced interest rates, or the UK will be in danger of a nasty recession, leading to yet more firms going bust.

Great post CG, plenty of detail.

My problem is can JLP actually keep its plants operatuing 24/7 for 52 weeks , and I feel the figures put out by LC sometimes are more aspirational than achievable. I hope you are correct and thanks for your effort.

For myself LC is totally addicted to solving technical problems, and is a Reactive CEO. Having lived his life in South africa; he is totally aware of Load Shedding and the need to have a reliable Service Suite (power, water, transport etc) present when establishing plant to recover metals from mine waste Then he forgets what he has learnt.

JLP establishes Roan in Zambia, but fails to ensure reliable service suite present. Hence considerable amount of Roan plant destroyed; and JLP has to rebuild Roan and establish service suite. Next in South Africa, JLP chrome plants close down due to load shedding. Result reactively LC rushes to ensure back up power supplies for Chrome plants.

No doubt LC and his team will expect ever increased cash salaries for the current year. Failure to react in a proactive manner, I suppose will be blamed on the Company " Tea Girl" .

As an old fashioned investor; I believe the first duty of a CEO and his team is to reward Shareholders , for their investment in the company. Shareholder rewards maybe as Dividends and or, share buy backs and or, share price appreciation. JLP achieves none of the above. Thus my only hope going forward is that Slater has LC's nuts in a vice, to ensure rewards in the future. Talky Talky prtesentations, which repeat past mantra do not cut it for myself.

When metal prices are weak . it is most important that all plant should run at maximum capacity 24/7, to help spread costs. Some on this BB will question why I remain invested in JLP. Well I have close family in South Africa, and I want Southern Africa to be a success story. I do not wish Southern Africa to become a de facto mineral colony for the benefit of China.

At RNS on 5 Aug 2019 Board Decided, JLP would produce consolidated operational and financial review on a six month period. And for following six months intervals JLP produced RNS for Six monthly Operations Update; 28 Jan 2020; 13 Jy 2020; 14 Jan 2021; 6 Aug 2021; 8 Feb 2022; 10 Aug 2022; 15 Feb 2023; but no more ======= as next update RNS 21 Aug 2023 ; read " South Africa and Zambia Project Expansion Update." For this most recent RNS the six monthly update was mixed in with the latest Chrome information from the JLP. It appeared just two much effort for JLP to put out two RNS, first listing six monthly report, with second listing latest info on Chrome from the company.

For myself a resolution by Board is cast in stone until reversed, and the Chrome info put out by the company was muc h too important to be mixed in with six monthly report. Please can sombody ensure that JLP issue simple short factual statements without mixing up info.

Historic RNS quotes

25 Oct 2022 (1 year ago) RNS

CEO states JLP company on course for next level after transfornational year. My comment is result of transformational year has seen share price collapse , although I still rate the company a buy.

5 Sep 2022 RNS

Roan achieves Nameplate capoacity of 10000 tons Copper as stated by LC.

17 Nov 2001 RNS

Inyoni completed upgrade, target of 50000 PGM ozs. with solid foundation of achieving its 55000 PGM ozs as target on a sustainable basis.

Now gotreal, at 86 I maybe gaga* , but I can still read and my quotes for Nameplate capacity for Inyoni and Roan this morniing were not that wrong.(10000 and 60000 ).

I believe LC and his team should be held to figures placed in Public Domain in RNS , not just paid cash salaries independent of Share Price performance.

Gotreal since you know I am wrong, please let myself know the true Nameplate capacity for Inyoni and Roan. Also why are you convinced JLP are about to issue regular quarterly reports. Thank you, Charles.

I believe JLP is one of the few companies on the market where annually : the CEO and his team are paid annual cash salaries divorced from share prioce performance. By my reckonning JLP has invested some $60 m in South Africa, plus some $60m in Zambia; and these investments are yet to show meaningful earnings to the companies bottom line. Some on this BB think the new CFO will shortly propduce quarterly results; I must inform these persons that pigs have a greater chance of flying, than JLP producing regular quarterly results.

I just hope I am proved wrong in this life.

Now I could be totally wrong but, I seem to remember Inyoni name plate capacity was historically stated as 60000 PGM ozs. per year; and Roan as 10000 tons copper per year. JLP is far removed from these figures, so obviously I am totally wrong. Alternatively some of the historic information put out by JLP is in error.

Earnings , the hard yards to quarterly reports can only be achieved, once LC and his team learn how to keep the metals recovery plants constructed operating , 24/7 for 52 weeks of the year. Then ever increasing earnings will accrue to JLP's bottom line, and the market will regard JLP as a fully profitable company. Not a company that continually moves the goal posts forward, as it seeks earnings. Even at current low metal prices JLP recovery plants are profitable, but not always in continuous operation.

Regretably LC and his team appear to be totally addicted to solving technical problems, with their cash salaries geared to implemented investment programme. (No link to JLP share price). Where these investments are supposed to diversify and expand current operations in Chrome, PGM , Copper and Cobalt.

The Market will not raise JLP's share price until it sees positive Earnings , flowing continuously from its investment programme. The above is my personnal perception of the reason for JLP's share price collase.

Moneyman64 the only certainties in life are death and taxes with BT busy washing his nappies, as he does not know what else to do with his time. But this is not the only BB wrecked by a lunatic, although with time they all pas on, unlike death and taxes which remain with us all.

Frogkid ; A Bush Baby is a delicate little animal, whereas Bushy Tail comes across like Plat Hunter of the past, a total idiot. But over time they all expire, and only those who see this BB as a source of info for the benefit of all continue.