Member Info for Gray1

They predicting 500/tonnes a month by October (their words not mine)so I suspect they haven't hit that target yet Gotreal so less than that a month at the moment.

Not much point worrying about the copper price until we start producing more than the small amount they are producing at present.

Only on cathode bottoms up not on concentrate it is much less:)

Thanks Seis I knew the recovery rate just wondered if they ever posted what they actually processed. The tailings are 0.7% and a 70% recovery only gives 0.5%/tonne of waste. It means you have to process an awful lot of tailings to get a reasonable amount out that was why I questioned the commercial value of it must be quite costly to process overall. We will have to wait on that a bit longer.

It makes sense why they have dropped it down the priority order as there is value there but not a huge amount it looks like there is more in bought in ROM and Project M & G when they start delivering later on.

You would have thought the 15k trial was material and should have been reported as the IRH deal was dependant on the due diligence from it and they just allowed it to lapse. Hopefully the circular will have a clear and comprehensive copper update.

There is a concern over the tailings Seis and how commercial they are. They seem to have been talking about Draslovka forever. Plus they never published what the trial of the LWP was and IRH walked away after a year of testing the stuff. It is worrying. Circular shouldn't be long now probably last week of August or then again tomorrow maybe:)

The good thing about the LWP is the third party take up but we don't know how that is going at the moment whether good, indifferent or bad. Everything seems to be up in the air at the moment.

Ouch:)

"Remaining lower grade material (0.7% Cu) is stockpiled at surface for future processing at site. The extended large pilot trials are currently be completed for the implementation of two 30 000tpm modular processing units."

One for you Seis,

Do you know where they are doing these trials and what equipment are they using for them?

With 70% recovery rate that is around 0.5% so 300 tonnes/month for two modules. Or are they upgraded first before going through the modules the copper input percentage is higher and therefore a higher recovery percentage of copper?

I am interested in how the third party who purchased part of OB1 to process and hope it is significantly commercial for them then they could buy the lot or partner.

If it doesn't realise much profitability and they walk away that would be huge concern. They must have a good idea by now so would expect a mention in the circular as this could be massive either way.

Credit where it is due Gotreal that is a decent post. Agree with some of it still a lot of questions to be answered as they are still a long way from the much vaunted 25k.

If your interested I give it a 4/10.

Positives.

Buying the OB1

Roan operating.

Part ownership of M & G

Securing ROM contract .

Sable

Negatives

Poor communications.

Missed timelines

Is the tailings commercial we still don't really know? How much is it really worth?

How long before we get the Gly leaching up and running to a commercial scale?

How much Capex still required if we need to purchase more mines, infrastructure and modules so they can supply ROM etc. Won't be cheap.

Roan nowhere near the original capacity at the moment and we still don't know what they are producing at.

Unjustified 1p options.

Management leaving so continuity lacking

Leon far too optimistic and continuously changes strategy (could call it a positive if it produces a better effect it just hasn't happened yet).

I am sure I have forgotten some on both sides of the argument. I disregard Covid it was over 4 years ago. Zambia is difficult but surely they must have expected some of the problems they encountered and how they would overcome them before investing there?

If they get it right then that would be great. I just don't see the tens of billions of value for copper as you do that is far too optimistic but if they can get to 18 to 25k in the next 2 years then we might make a few quid from this level. I don't see this company anywhere near the 30p plus mark for a long time yet if ever but we can always hope this is AIM after all.

Pizzagate,

Accusations of multiple id's and agendas. Hmmm now where have I heard that before?

I will answer your question when your mate Gotreal answers mine?

Whose Gary?

I have a genuine question for you Gotreal unlikely you will answer as you don't tend to.

How well on a scale of 1 to 10 do you think the copper performance and strategy has done and why?

I haven't stated anything of the sort. Have you actually read what I wrote?

Who knows what goes on behind the scenes. What they say and what happens is not always the same thing with JLP. Maybe they signed a disclosure agreement who knows. They didn't even tell us Ricus had left.

Whether they did or didn't it wouldn't be published by Leon and someone one leaving aren't going to publicly trash their previous employee if they still want a responsible position elsewhere so you don't know they didn't move because of Leon and no-one knows if they didn't. Both are plausible you toss a coin and take your choice. There have been a few leavers though there isn't usually smoke without fire.

Just another missed timeline in a long string of missed timelines and forecasts regarding Copper at least they are consistently crap at it. Still time though as Happy says.

The giveaway for me was when they said copper wouldn't be updated until August difficult to publish a circular with no updated Copper so I am not surprised although I have got to the point where it is best to ignore any timelines JLP publish.

With the increase in Chrome/pgms the later the better Gotreal. Hope they can push it back to July 2026:)

Why bother putting a timeline in then Gotreal? May as well have said the cicular will be out when it is ready and we have no idea when that will be:)

I did it was a joke but not sure about Gary:)

Don't think it does Pizzagate it is still July:)

well we have 1 day to go maybe....

the problem with it arriving tomorrow is they have said copper will be updated in august and they can't publish the circular without including the current performance of copper. if they start going on about future copper and how it is going to exponentially rise with very little capital expenditure then it will have no credibility with me.

there should be a comprehensive stepped programme how copper will increase timelines and how much it is expected to cost not the usual crap forecasts they put in an rns like 25k in 2 years with no prospect of reaching it. if they are considering selling chrome/pgms then they must have this plan not back of *** packet calculations especially as we will be going all in on copper.

still think it is a crap deal.