Member Info for Chatmandu

I have owned my mistakes and been open about them.

Has Leon? Have you?

With regards to it being "the worst possible time...", that would be pretty much any time in the past 5 years - just look at the charts. The only person making any money from owning JLP are the market makers and traders, such as @Kalan.

But, I highly recommend that @SeisNav , @gotreal , @bottomsup and @shuvlin keep holding their shares. I hate for them to miss out on the future potential.

@bottomsup

"and stop any newbies from buying"

And there we have it - finally an admission that you're trying to ramp the share and sucker in new investors to prop up your failing investment.

You're the fool that invested £150k into this basket case company. Own it.

I am happy to admit that I don't want new investors to make the same mistake that I did - i.e. believing the hype from tipsters such as Simon Thompson and the demonstrably dishonest targets and spin from the massively overpaid CEO.

Oh dear. I really should have expected that to have gone over your head. It was written from the perspective of a hypothetical investor that believed the JLP announcements regarding capacities.

My apologies to anybody that's 'too stupid' to understand.

21 Nov 2025 07:00 | RNS Number : 4400I

"Roan concentrator to target an increased throughput of 40 000t per month from 30 000t per month currently (33% increase)"

33% increase? Bring it on. Buy! Buy! Buy!

19 Feb 2026 07:00 | RNS Number : 5806T

"Roan is on track for throughput of 40 000tpm by end of Q4 FY2026. Production at Roan reached 1 246t of Cu units in the first half of the financial year, up 172.8% on the previous comparable period a year earlier."

40k tonnes is on track! Buy! Buy! Buy!

6 May 2026 07:00 | RNS Number : 1341D

"The Roan concentrator continues to operate at approximately 30 000tpm. The Roan front-end upgrade offers the potential to increase the feed rate to in excess of 40 000tpm, which the Company looks to bring back into operation following the end of the seasonal rains and the completion of the commissioning and ramp-up of the new fine concentrate dewatering system."

Oh dear. Things are a bit delayed. You can't help the weather I suppose. Keep holding...

4 Jun 2026 07:00 | RNS Number : 9186G

"While May 2026 production was impacted by the planned annual maintenance shutdown at Roan, operational performance has returned to full capacity targeting a processing run rate of 30 000tpm of ROM with increased copper oxide recovery rates due to the expanded flotation circuit."

30k tonnes is now full capacity? What? I'd like to sell, but the share price has collapsed.

They were targeting 10k tonnes of copper when the processing capacity clearly didn't even exist - and still doesn't exist five years later.

Roan capacity was quietly reduced from 40k tonnes to 30k tonnes without any explanation whatsoever.

If you're still paying any attention to Leon's announcements and targets, then you're a bit of a mug.

@Happydays43

I wouldn't be shocked to learn that copper was stockpiled and then booked against that month to get the PGM vote over the line. Would the vote have passed otherwise?

@4everlong - You saved me the trouble of writing the same thing.

I'd also noticed that @JuniorLassonde has gone very quiet since the vote.

@Happydays43

"2.3p.. what the F is going on?"

Thin summer trading without any good news. We saw the same thing last year.

That's one of the reasons I'm expecting the price to slide until the August Bank Holiday.

@Iluvise68

The investment didn't gain shareholder approval and has been converted into a loan with an unknown interest rate.

@Kalan I completely agree with regards to Roan, LWP, etc.

The only thing propping up the share price is uncertainty/FOMO around Molefe. Last summer the was talk of Molefe having 5% copper grades at the surface. It was going to be a Tier 1 asset / superpit. Strangely, the narrative is now shifting to the southern ore body prior to the JORC being released.

This, to me, is a giant red flag. It suggests, to me, that the drilling results have been very underwhelming.

Management know that the only thing propping up the share price, and their jobs, is the perceived potential of Molefe. If that turns out to be a dud, they're in trouble. That's why, in my opinion, we're seeing the narrative shift. Management are getting ahead of the underwhelming results and are lining up another unknown to keep investors interested.

With regards to the current clamouring for news to help lift the share price, it might offer a temporary sugar rush (and a trading opportunity, if that's your thing), but the only thing that's going to move needle is decent production.

Given the track record, don't hold your breath.

I might be wrong, but don't the final quarter's production figures get incorporated into the Annual Report?

The spread is showing as 10% and the bid is apparently 2.30p, but there's no trades showing at a price lower than 2.40p.

Maybe the market makers are playing games?

And I value your opinion, because?

I'm actually fascinated to see how things develop. Just as Edzi came to his senses with regards to Leon, I think that I've come to the same conclusions. You can judge me against my predicted share price in September. 🤷

With regards to my input today, Shuvlin clearly wanted to get people talking and then immediately insulted me when I shared my thoughts. You and Gotreal did the same...

I wonder who actually has the agenda?

Well, exactly.

That's why I consider the company to be uninvestable at this time. When you look 12-24 months ahead, the remaining OneChrome money will have reduced further and the share price will need to adjust to reflect that.

JLP have had another abysmal year of failed production and there's zero sign of production improving - let alone reaching the previous targets of 10k tonnes.

I can't understand your meaning due to the typo.

As I've previously said, the remaining OneChrome payments are a de facto valuation for the company because last summer the entire business was valued at just the PGM deal (the copper business was completely worthless) and nothing has improved since then. If you convert the remaining OneChrome payments into GBP and divide it by the number of shares in issue, that gives, in my opinion, the fair value.

Haven't you been holding all the way up to 20p and all the way back down again Seisnav?

Your parents really should request a refund from that (obviously third rate) finishing school.

Why do you take things so personally?

We all respect your investment skills, so why the hate? You've been holding JLP since 20p and it's clear you'll still be holding them if/when they fold.

#Respect

There's not really a lot to say at the moment. I've explained why I think the share is overvalued. I'm expecting 2p or less by the August Bank Holiday. I consider the current fair value to be around 1.65p (dropping to 1.5p after the next OneChrome payment had been spent on operational costs).

You might think differently. 🤷