Member Info for Gray1

Northern the numbers are the numbers I didn't make them up JLP reported them. The copper side of the business is loss making there is no question of it. It is you that are cherry picking numbers by just quoting gross profit now you are trying to dig yourself out of it by flying off on a tangent with depreciation.

You still have to pay tax they won't get rebates forever. Depreciation and amortisation are accounting procedures to allow a business to offset the capex they have spent previously against tax. Shall we not bother including interest then?

The copper side of the business is currently loss making end of. By the way the operation was shut down for part of H2 and testing for another part of it and they don't receive all the money from the sale upfront. So it still maybe loss making over the year.

You got it wrong Northern better to move on than keep digging.

Gross profit yes but that doesn't include all costs only sales and cost of sales what about overheads etc. You can't exclude them and say you are making a profit.

Wrong northern net profit was a loss of $1 million dollars and they had a tax rebate of $2.4 mill otherwise the loss would have been $3.4 mill. The sale they don't receive it all at once it is spread over 14 months sorry mate you need to go back and read the accounts again.

First 6 months of this year copper was loss making so until the full year's figures come in copper is currently loss making.

Me included Happydays.

I was trawling over all the RNS Seis took me ages just to find the 95 and 51 one lol

Don't they own 95% of M and 51% of G? Does not having ownership of mines even part ownership make you a miner as well?

They changed strategy Gotreal to buy more mines and therefore they are making mining a core activity so would have to bring in specialist help. I am fine with it works for me. How that impacts on overall cost and profitability down the line we don't know.

I took Nelson's comments to mean it all feels a bit rushed and desperate and why would Leon change his opinion on chrome and pgms so quickly after singing its praises a few months ago? He speculates maybe Leon is coming under pressure from other factions (and so he should). What has changed?

You assume correct Sumo. Not much point putting a time line on it as they will probably miss it anyway. No point spoiling a 100% record:)

Gotreal you have absolutely no credibiility you blindly support everything the company has failed to deliver on only come on to abuse posters and try and suppress any reasonable debate and abuse posters. How on earth you can believe copper has been anything other than a disaster so far is beyond any sane person.

Chatmandu,

Either copper can deliver at a reasonable profitable level in volume or it can't. Like you say Slater aren't going to wait forever. Leon is still talking the same game he did 6 years ago this time it will have to work out because if they sell Chrome and pgms and it carries on failing to deliver on a good commercial basis there will be nothing left to support it.

6 years Shuvlin!!! and we are delivering less than was promised then. I get what you are saying but that record is indefensible by any stretch of the imagination. They should be criticised for it and deserve to be and don't forget the 1p options as a reward.

They must be laughing all the way to the bank to collect it. It is impressive how Leon can keep a straight face still spouting the same stuff after 6 years. Nevermind next year we will be millionaires.

6 years we have been waiting for copper to deliver good grief didn't realise it had been as long as that Happydays. How have they got away with promising to deliver and failed for that long?

Had it not been for issuing tons of shares, Chrome and pgms company would more than likely have gone to the wall beggars belief how inept they have been with copper delivery.

Just to add hope the person writing it isn't the one who writes the RNS or none of us will have a clue:)

Don't know HD hopefully they will explain it in the circular.

I am hoping it takes as long as the electrical part took for Roan then we will know results:)

At the moment Kalan I can't get excited about Leon's predictions regarding copper time frame, cost and delivery wise he has been miles off so far. Need to deliver until he does I take anything he says with a pinch of salt.

Take the debt with it and I would be happy with the repayment schedules as well. I live in hope now:)

Hello Mikie good to hear from you. I would be a lot more comfortable with it if we were a bit further down the road with copper instead of still bumbling around 2.5k. Wait for the circular.