Member Info for Chatmandu

@SeisNav - why do you only take issue with people posting negatively about JLP and never intervene when people, such as Bottomsup, post inaccurate ramping information? He recently asserted that 100% of any copper price increases would accrue to JLP as additional profits. You said nothing and then had a pop at me for questioning the profitability of Roan.

Even if your accusations against @nevertogiveup are accurate (I don't think they are), you are far worse, in my opinion, because your ramping could result in new investors losing serious sums on this hapless company.

I'm not seeing any screenshots from these posters that offer nothing but abuse on a day-to-day basis...

I think we can all draw the obvious conclusions regarding why they're here and who's paying them to be here shutting down fair criticism and bullying dissenters into silence.

He repeatedly accused me of not holding any shares. Why should he not be held to the same scrutiny?

@gotreal can post a screenshot of his trading account to prove that he has a financial interest - or he can simply STFU and leave everybody alone.

I'm happy to put my money where my mouth is. He won't, because he can't...

https://i.postimg.cc/jdJ1VJhJ/image.png

I don't believe that @gotreal even holds any shares in JLP. I suspect that he is a paid shill / bulletin board 'influencer' (they aren't getting good value for money).

He throws around insults and accusations that others have hidden agendas / no financial interest in the company as a smokescreen.

He's not wrong, though, is he?

”targeting 8,500 tpm high-grade ore from Molefe by Q4 FY2026).”

If the ore is 2% copper, then it only equates to 2k tonnes per annum.

8500 x 0.02 = 170 tonnes of copper per month = 2,040 tonnes of copper per annum.

14k tonnes of copper would require 8500tpm ore with 14% copper content, which seems unlikely.

@nevertogiveup

But.... But... The Sable capacity already exists or Leon wouldn't have had protection targets of 10k tonnes way back in 2021 and 2022....

@Jonah58

Leon previously stated that the Zambian operation was fully capitalised. According to @Sirboring 's analysis of the accounts, the PGM proceeds are required to cover operational costs. If more capex is required, where's the money coming from?

@JuniorLassonde

Regarding the JORC resource, an independent third-party will compile a JORC-compliant resource following completion of the Phase 2 drilling programme. Assay results from the first drilling campaign, together with initial samples from the second campaign have been submitted to an independent laboratory for analysis. The competent person's report is currently expected by Q4 CY2026, subject to the timely receipt of assay results. Further drill campaigns will be considered following the completion

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@Sirboring is correct in his assertion and knowing JLP it's bound to be delayed.

@sumoskier

i can't help but wonder if today's rns was pulled because it was too 'classic leon' and they've realised that people are now holding them to account for the jam statements that always seem to come to nothing. i'm expecting the same or worse production than last year. leon's track record is only delivering ~30% of his copper targets, so that's something to bear in mind when reading about how the problems are now behind us and things can really ramp up...

@happydays43

i think it will be a dog**** sandwich. the painful reality of yet another year of pathetic copper production will be obscured by the smoke and mirrors of the zambian dream™ - molefe, lwp partnership is almost, almost, ready to sign, dewatering centrifuge, etc, etc, etc.

that's just my cynical take on things, as a former long term holder of jlp that's heard it all before...

"Just the LWP is worth more than the company presently...."

@gotreal - what a ridiculous statement.

Are you saying that everything else, such as Sable, Roan and Molefe all have a negative value that's detracting from the value of the sacred waste dumps?

If that's the case, why not shut them all down to maximise shareholder value? There can't be much overhead associated with the ownership of big piles of rock.

To be honest, given the track record of failure and cash burn rate, I think there's a strong argument for ceasing trading and having an orderly sale of assets to return cash to shareholders.

@edzi - how would that work? Presumably, somebody would need to buy the company before taking it private?

@Sirboring - you post interesting analysis of the accounts. Are you currently invested in JLP? Based upon your knowledge, do you consider the company to be investable? What would you consider to be a fair share price?

You're braver than me. I'm expecting dismal production figures tomorrow - but who knows what the usual promises of jam tomorrow will do to the share price?

Good luck. I might be tempted if the price drops to 2p (although I still consider that to be overpriced for anything except short-term trading. 🤣)

@Frogboy

I think that's a bit of a circular argument - i.e. 'it is because it is'.

I think it might be more accurate to say that 'the people signing the document considered JLP to be a going concern at the point in time when they signed the document.'

This delay to the RNS is reminiscent of the time their auditor was beyond standard carrier pigeon range and they had to send a man on a zebra to obtain his mark upon the paperwork.

I can only assume that the wording will have been polished to perfection by the time it finally arrives.

🤣

Very droll @Happydays43 , very droll.

Wasn't there supposed to be an RNS released this morning?

@HarmProf

I think people should ask themselves whether they _should_ buy JLP shares, rather than _when to_ buy JLP shares.

From where I'm sitting, the only thing that's likely to have changed by FY Q1 2027 is the quantity of remaining PGM cash and the share price.

Thanks @Sirboring

I'm not an accountant, but I'll try and get my head around the numbers this evening.

@Sirboring

Do you have a link to that document? The JLP website contains 'Unaudited Interim Financial Report for the Six Months Ended 31 December 2024', but I can't find the 2025 version.

I'm sorry that you're struggling to reconcile the reality of the share price and (lack of) company performance with your hopes and dreams.

Various people have sounded the alarm during the past 18 months, but you seem to be incapable of changing your mindset and persist with a head in the sand response to all non-ramping comments.

How deep in the hole are you? Have you considered cutting your losses?

Do you honestly think that JLP is going to become profitable within the next 12 months? Where's the share price going to be, once they've received and spent another installment of the PGM proceeds? What about the year after that?

Slater are selling down their holdings. Other institutional investors have already sold out. What do you know, that they don't?

When I sold out at 3.22p, I said that I was confident that there would be the opportunity to buy back into the company at a much cheaper price point. We're now at 2.75p and I'm not buying back in because I consider the downside risk to be too great.