Member Info for Foresthomeshotm

@love that you never give up

Excellent feedback. I agree and would add

Monthly copper production targets and profits ( based on a stated copper price per mt) for 2026 and guide for 2027 and reporting against these with reasons for variation and corrective mitigation etc.

Exec pay and incentives linked to achievement and improved performance including delivery of special projects.....as you outlined. Formal market reporting quarterl.

Copper produced split by oitput source

@nevertogiveup

All view welcomed. Abuse not.

If you think anyone posting here can materially manipulate the JLP share price then I believe that's a far stretch personally.

What we all agree is we aee not getting what we deserve from JLP.

So lets focus on what we want why we want or deserve it and how we are going to best get/achieve it.

Thats a more constructive approach

Are you happy to share @ gotreal?

@Sirboring

Ok well that says it all about JLP management and Board.

Of course there will be strong resistance, that's to be expected.

That should make ALL Shareholders fight harder and smarter. I'm up for it.

If you're being paid handsomely and you are rarely held to account why would you change anything.

Can we set out what we want to see changed about how we want JLP reporting to shareholders and the market both officially and unofficially to be done in the future and the structure metrics methods/mediums and frequency of that ?

Thoughts views ideas?

Is that it @gotreal?

And therein lies the problem.....apathy. Very little get achieved via these BBs unless theres collective action to change the way JLP set targets, report, provide info to shareholders are renumeration tied to copper production profits and shareholder value.

Do we have a list of posters Holdings.

I hold just over 2mil

If we can produce a list then one of us could write and share with Mr Slater setting out our collective concerns and desired changes and collectively raise these with Leon Jonny and the BOD to encourage action and change.

Thoughts ideas?

Yes Leon took this from 1.5p to 22p but he is also guilty of the majority of the dessicated in Shareholder value and all the matters raised in that post too.

Where is the Pillar 3 update?

Why was a key strategy strand left out?

And yes Leon (and now Jonny) are guilty of providing shareholders that pay their c£600k and £450k salaries with NO Q copper targets split by processing unit for 2026 and 2027 (guide lowe and upper) and anticipated profits per mt based upon a stated copper price ( that can the be anchored and adjusted by copper price and the efficiencies they achieve by any investment programme. Which again can then show ROI.

I can answer those rhetorically.......that would hold them to account for performance.

Shock horror actual targets to meet ....clarity on profit margins......ROI stats........efficiency processing % linked to investment .

Instead what do we get ? However I blame myself and all the other PIs who don't go to AGMs meetings and Q&A sessions and force uncomfortable situations and change by not being organised and collectively strong and vocal except on here.

I'm changing that I hope the rest of you do too.

The reported improvement in EBITDA is significantly influenced by non-operational and non-cash items, limiting its usefulness as an indicator of underlying performance.

While liquidity has improved following disposal proceeds, this is partially offset by a build-up in working capital associated with the Zambia ramp-up, which may reverse.

Net debt has reduced, but reliance on external bank facilities remains, and total short-term obligations extend beyond reported net debt figures.

Critically, the copper segment has yet to demonstrate consistent, self-sustaining cash generation once central costs and adjustments are considered.

Reported EBITDA contains non-operational items that distort underlying copper performance.

EBITDA is not a reliable proxy for cash-generating performance in this period

Liquidity is adequate today but may compress as working capital normalises and capex continues

Leverage appears manageable on a net debt basis, but total short-term obligations (including payables) increase liquidity pressure.

The group remains reliant on bank funding, but leverage has reduced and is trending in the right direction.

You all may be right re buyback dividends.

Its up to shareholders like myself to get their target dates and volume of both linked to quarterly if not monthly copper output and profits achieved.

It shouldn't be a malaise of black magic to know what the margins are what the capital nvestments are returning in processing volum increases and efficiencies of cost per tonne produced.

Its as clear as mud at present and they both need holding to account.

No you are wrong......fundamentally it can be used for all these purposes too

Offset accumulated losses

Support the P&L / balance sheet

Enable future capital actions

Provide flexibility for restructuring

Improve optics of retained earnings

Converting £228m from “share premium” → “distributable reserves”does not increase the company’s value.

It’s just a reclassification within equity

no new cash

no new assets

no improvement in operations

Its just moving money from a “locked” drawer to an “unlocked” drawer

This is a technical balance sheet move

It creates optionality, not value

The outcome depends entirely on what management does next.

So your post is wrong and positively misleading. This change can also lead to value destruction as well although JLP have stated clearly why they are doing it in the RNS.

However just to be balanced it could also be used for

Covering losses

→ masks weak profitability

Supporting further dilution → makes it easier to issue more shares later

Financial engineering optics → improves appearance without improving fundamentals

Thats not what JLP said to be clear. They said

Share buyback

Dividends

Sorting the accounts and reporting or words to that effect.

If its signed off its signed off, that's the facts.

So that means they had to demonstrate cashflow going concern for the next 12 months. Fact.

Centrifugal water is for additional copper recovery....again fact.

Weather damage to JLP has been stated again fact. Damage to roads and bridge under repair not sure if its completed or not.

Anything else is opinion which I suggest you take a balanced view validated against RNSs wider info and use AI to accelerate knowledge gathering and analysis but always triangulate.

There was an X post suggesting the RNS update would be today. Are they really that bad at even short term planning? Or are they worried there will be such a backlash if they don't get out some encouraging positive news and accurate facts

Reduction Process:

Under Section 610(4) of the Companies Act 2006 JLP

must reduce its capital either by obtaining a court order or, for private companies, by a special resolution supported by a directors’ solvency statement. Solvency Statement: Directors must declare that the company can pay its debts for the next 12 months after the reduction.Special Resolution: Shareholders must approve the reduction within 15 days of the solvency statement.Filing: The paperwork must be filed with Companies House

Assume this has been done. Jonny wouldn't miss this.

As for the additional water centrifuge its to increase copper output by concentrating the finer oxide materials the existing processing doesn't deal with.

And yes of course they know the weather in Zambia causes issues hence the road Bridge and other strengthening and prep work.

Theres definitely a few poster on here that cleverly (yes they are clever) create doubt and worry) to create sellers hopefully.

Always look at the facts, validating info with AI is fine but try triangulate data and facts. Not always easy I accept.

Depending upon the AI its giving a buy signal at 2.7 to 3p and a hold at 3.2 to 3.4p.

As I said its only a guide and depends whether Leon has lied, been incompetent or will pleasantly surprise shareholders?

The next info should further help investment decisions in JLP.

Nice number analysis and sticks to facts.

One can do the same with promised production targets and promises made by Leon.

Of course its about the shareprice......it relect sentiment confidence and reality and yes we deserve as shareholders to see promises delivered and value for our investments created by someone taking £600k out of the business and have almost zero personal skin in the game except that given to him.

So is it Leon the Liar or Leon the incompetent then?

Either way on £600k as a shareholder its unacceptable and he has to go.

However let's judge him fairly on what is delivered in an official form and not just some podcast spin to his friends who consequently don't interview and question him with any real conviction or rigour.

Leon has to put up or P155 off. He's had all the chances anyone would reasonably give on £600k a year.

Deliver your promises or go. No more chances no more excuses.

And he doesn't deliver and doesn't walk Slater will deliver the blow with other major shareholders.

Yes the war has had an impact but so far minimal.

Production production production and thats going to be tough with limited Acid supply and works at Molefe.

They need cash to enact any buybacks or dividends and they also need to approve any buyback or dividend policies voted by shareholders. But its good there is some progress.

Thats at least 12 months if not 2 years away.

AI is just another useful tool in the box. It's fast thought provoking but like mose equipment its how you use it. Used badly damage....used well great things can be created. Just apply logic and balance.

Unfortunately I've been here for a long while and Jubs have often missed deadlines been sidetracked by new shiney things and also been unlucky.

Hopefully this is changing now and at least they've set out a rough plan and started to implement.

The Iran situation is just terrible timing with a likely 3 to 6 month impact lag.

That said copper should rise based on demand v supply to if they can sort the Acid issue and move fast it should pay dividends.....literally

They need cash to enact any of this and they also need to approve any buyback or dividend policies voted by shareholders. But its good there is some progress.

Let us hope Leons presentation covers the great list provided by an earlier poster.

Looks like a few have taken the opportunity to sell 750k plus chunks at 2.88p.

Where are we with production now and 2026 targets?

What's happened to the LWP update?

When roughly what month will the 2nd drill results be shared ?

How long will it take to prepare and implement the mining plan? Who will fund that? God resources or split how?

What's Sables max capacity and can it be increased how at what cost and how long?

Will they add a lower grade recovery circuit at Sable to extract the lower grade material and max copper?

Problem is there just no info from the company to shareholder and I don't like to keep emailing.

I hope Leon does as good a job as you have set out here.......if not can I suggest you volunteer

No major disclosed exit or large reduction recently

For a sale of that size:

It would likely trigger a TR-1 notification (major holding change)

Or at least show up as a material % change in owner

There is No recent public filing confirming that scale of disposal