Member Info for Chatmandu

@ardbegger

So, you're sl admitting that you do have an agenda..... of respectful debate? 😉

"I certainly wouldn't like to be in a war zone with many on here."

I fear you're the sort of person that would merrily go over the top and walk slowly towards the enemy when instructed to by Leon.

@Sumoskier - I'm sure the projected copper production figures will be fantastic. Just like they were in 2019, 2020, 2021, 2022, 2023, 2024....

@bottomsuo

I think you need to work on your reading and comprehension skills.

The market clearly isn't valuing the rocks at anywhere near the value suggested by that sale.

6.75/0.04 = $168 million

There entire company including the $90 million PGM is only $150 million, so the market clearly doesn't consider these big piles of rocks to be worth much at all (if anything).

Well, based upon that sale price the rump business should be worth at least $168 million, but it's not...

The market clearly isn't valuing the rocks at that level.

Also, how much of that $60 million rump business is actually the cash profits from the PGM business and the PGM stockpile?

I've honestly no idea, but if we're currently making $13-14 million per quarter, as per Seisnav's claim, then the rump business might only be worth $30-40 million.

Post sale, should we expect the share price to fall to reflect the 3 year payment plan?

For example:

- The $90 million PGM asset leaves our ownership.

- We only receive $30 million in Year 1 to give a NET loss of -$60 million.

- The rump business would be worth $60 million + $30 million from the buyer = $90 million.

That would be a 40% reduction in NAV vs our current market cap of $150 million. Presumably the share price would follow the NAV downwards?

How do markets value promises to pay? I presume they're not valued at 100%?

"I do not believe there are parties lining up to partner with us on this large waste project."

If we strip out the PGM at $90 million, the rump business is valued at $60 million.

Some people are saying that we're trading below NAV, but does that NAV include the 'value' of the big piles of waste rock that we've purchased?

I'd suggest that our reserves of 'copper' waste rock are basically worthless. JLP have completely failed to extract any value from them and we've been operating in Zambia at a massive loss. Who else would want to purchase a massive dump of rocks that other companies have already discarded as 'not worth the hassle/expense'?

Does the 'accounting loss of 3 485 000' include Leon's wages or the overheads associated with the wider business? How long is $90 million going to last us when that's the only thing financing Leon's games in Zambia?

@Happydays

"Market still doesn't like the deal and most definitely does like the RNS."

Did you mean 'and definitely doesn't like the RNS'?

"It's disappointing that the PGM production in Q4 was the lowest of any quarter, despite rising PGM basket. I was expecting them to be somewhere close to Q3 and even exceeding it due to the JV which was announced."

Hmmm. A cynic might think that PGM production is being deliberately reduced so that the PGM business looks less profitable - but why would a CEO want to do that?

" Only one thing Moneyman wants and we all know what it is."

A well managed and transparent company that issues timely and accurate communications to maximise shareholder value?

Shuvlin today at 09:28

"Even to mention how many shares we hold as private investors ( or small fund managers) and to imagine that we can influence the outcome is hubristic ..... I am not however prejudging the contents or veracity of the circular as many are doing either to their disadvantage or (as they are scheming) supposed advantage."

Shuvlin today at 11:43

"You're not doing much to help are you? .... Plenty on here want to see further falls and if anyone thinks this board has no influence on the sp where else do you think that investors are getting their information from?"

Can anybody square that circle?

@LUFC1111

Unfortunately, JLP have a history of releasing 'optimistic' copper production figures. I would be very wary of basing any decisions upon their 'expected production'.

"You can knock off another $5m for the Rump of the remaining business & debt. Market cap now under $135m"

We're currently 4.55% down in today's trading.

That equates to $6.25 million. If we assume that's knocked off the value of the rump business, then it is now worth $42.75 million.

So, the rump business is actually down 8.7% in today's trading.

It's hardly a vote of confidence, is it?

We obviously don't know the details of the deal, but I'm assuming that the 'up to $90 million' is based upon PGM prices being above a certain level.

That's why I'm not holding out much hope of the price being renegotiated upwards, because I think PGM prices are probably already in the bid/contract.

"Can't go much lower than we already are."

Current market cap = $139 million.

(my) expected PGM sale price = $90 million.

Rump business including debt = $49 million.

If the market values the rump business down to zero, then I would expect the absolute floor to be a share price of 2.1 pence.

I think there's still plenty of potential for JLP to fall further.

Before the usual suspects start screaming about agendas, that's not a prediction.

"Current share price values the company at £100mill, the offer is £90 mill for what is currently a profitable part of the business"

Up to $90 million.

@shuvlin

"requiring answers that cannot be forthcoming at the moment due to the circumstances of the proposed sale."

Why does the sale of the PGM business prevent the release of the copper production figures? You're just making excuses for Leon.

@ActuaryBoi

I hope you're right, but it seems like an odd deal to propose if the Institutional Investors hadn't already been sounded out.

It could result in them seeking a change in management if they consider it to be a terrible, nonsensical deal.

"educate yourself" 😂😂😂

You're unbelievable. I've provided links to reputable sources with examples of break fees - including those paid by massive companies, such as AT&T, and you're still trying to claim it can't be true.

How you can have the brass neck to call people thick is beyond me.

Acknowledged - I did correct my calculation.

Oops, I forgot to carry the 1.

It would be 10k shares per person based upon 100 people. But I still think that's very unlikely.