Member Info for Gray1

Until they actually prove it in sustainable production and healthy financial figures for copper Gotreal then I am afraid it is nice words and sounds promising but now they have to do it simple as that which they haven't been able to do so far.

If the third party come back and want to buy more waste at a better or same price then yes it will be good or we partner with them or someone else then again it will be good but that hasn't happened yet so until it does the jury is out.

If some of what Seis and Happy have said materialises then JLP will be in a lot more happier place before any prospective sale of the SA business.

Possibly Seis. regarding results although JLP have a habit of going quiet when the results aren't so good. We shall just have to wait a little longer. I wonder how the third party are going with it?

That's all nice to know Gotreal but until we actually see how that translates into actual production and profit we don't really know how good (or bad) it is.

Beat me to it Shuvlin. Did JLP ever publish the results of the trial?

Higher the gross margin bottoms up the more chance we have of making some money on the bottom line and increasing the eps and hopefully the sp can't disagree with that:)

Bottom line Gotreal we'll soon see:)

They have received $600k so far not $600k every 2 weeks it is payable over around 14 months I believe around 500k a month. It will help with working capital whilst Roan and Sable get up to 500k/month and then project G comes online.

The other will pay for OB1. Selling parts of the business doesn't make it operationally profitable Gotreal. The FD is buying time shrewd man.

Absolutely Seis making more oxide will definitely impact the selling price. Buying the feed in will impact the cost per tonne of processing. We won't get a proper angle on this until Roan is running for 6 months in the first half of next year.

Ardbeggar hopefully he will start to understand.

Pizzagate hmmmmm?

If they can produce 500 tonnes per month from October Gotreal then they will be in a better place next year than they are in this year. The FD has done a good job buying the copper business time to get to 500/month with the sales they have already done.

They produced around 240 tonnes per month in the first 6 months and lost 1 mill dollars.

So they need around 300/350 tonnes a month to break even assuming they get a tax write back of $2.4 mill every 6 months. Unlikely that is going to happen so they need a bit more than that to break even if they don't get a tax write back. It's all in the accounts. A better Oxide split will help.

Selling OB1 waste and waste they don't intend to use helps but you can't rely on selling things like that. The operation has to be profitable.

They never gave a revised forecast out. Why do you think they didn't? Producing stuff that fast they couldn't count it or they didn't know how much they would make because they wasn't sure as they were still unsure of the trials they were doing?

Roan has been a horror show and it has materially impacted their copper performance. Why do you think they are selling what they can and want to sell SA? They are having to buy waste in at a higher copper content than the tailings they have just to get 4k a year out of Roan. How much profit do thing that will actually make?

They haven't been producing 300 tonnes/ month at Roan for the last 6 months only for maybe a month. The 12.3mill is over 12 months. Project M hasn't been suppling that much if it wasn't for a $2.4 mill claw back of tax they would have been $3.4 mill in the hole for the first 6 months. You can't rely on that every 6 months.

Until they publish profitable accounts then it is a loss making business can't say it any clearer than that. You just keep digging though and making yourself look a fool.

How am I lying? So you are saying the last accounts are a pack of lies that JLP produced?

Gotreal you are talking rubbish you need help mate

Stop digging Gotreal you are doing it again. It is loss making and until the next accounts are published it is currently loss making.

True Seis we will have to wait and see how much is left if it gets sold.

Gotreal cheerleading again. I do know the first 6 months of this financial year copper is loss making it is the most recent accounts. What it is doing in the second half only JLP know but it is currently loss making there is no getting away from it however you want to dress it up.

What it will do in the future we will just have to see. How much do you think Sable was producing whilst Roan was shutdown? Project G supplying nothing and Sable not expected to get up to around 200 tonnes a month until October so not a lot.

They have debts of $40 mill which most of it would apply to the SA operations because of the revolving credit. If they sell that and clear the debt. How much they could borrow on a currently non- profitable copper business I don't know probably nowhere near $40 mill.

That would be nice Gotreal but all we know is the third party was willing to pay $6.75 mill for the first 10 mill tons what we don't know is:

Input grade

Output grade

Cost of extraction

Overheads and profitability

Until we know those we don't know what it is worth but here's hoping for good news on that front.

Gotreal I never said there was going to be one.

In the main on aim Gotreal it is how most of them raise money hence the reason we have over 3 billion shares.

Minimum CU grade 35k targeted CU grade for 40k whatever those are