Courtesy of Juxtapose on JLP4 Jul 2018 18:59
Today 11:22 Price: 2.30
Juxtapose 314 posts
RE: Kabwe
The LC chat on Directors Talk quite interesting.
Along with all the technical improvements/simplification of processes, the comments re the interface with the Zambian Govt. are quite telling: keep them in the loop, fully updated re progress and deliver what the region needs, jobs and environmental clean up.
It is quite ridiculous that BMR have had this project for so long ( I invested back in 2010/2011 on the back of Kabwe expectations and sold out when MA made no progress!) and it is still not in production. The Zambian Govt. had more patience than me!
LC and his technical team clearly have the ability to turn this round: lab boffins who have experience of scaling chemical and mechanical tests up into production facilities. Of course, it is far less of a challenge to extract %s per ton of lead zinc and vanadium than grams per ton of the platinum group: should be a walk in the park and they do have the chrome experience to draw on, as well.
Kabwe is a big pie and as JLP gets on with the job, it may be that some credibility comes back to BMR and both companies and the country, finally get some benefit out of this debacle: JLP may well choose to treat their JV partner well, as it is part of building a brand and getting a foot in the door on other projects. It was noticeable that LC was quite careful about marketing his processing improvements, without totally trashing his precursors.
As far as JLP is concerned, I have watched, bemused, over the last couple of years as value was attributed to the white elephant, Tjate and am equally amazed that anyone could fail to see that Kabwe is a superb acquisition, progressing professionally.
For those here who were "Emed" holders, LC is playing the brilliant "Alberto" to Borrelli's "Hopeless Harry" and that turnaround is clear for all to see: the engineer replaces the dreamer.
I finally did buy in yesterday, as JLP fits neatly into the investing criteria: a company already producing successfully (Hernic) with substantial expansion (Kabwe) and 2.2p ish looked a reasonable entry price, even if there is further short term turmoil from the BMR disposal of JPL shares