Member Info for Gray1

I don't think they are Shuvlin. I think a lot are disappointed in this deal and are unhappy about it. I'm on the fence personally. Wait for more details.

To be fair Gotreal has Zeus ever got a copper prediction right where JLP are concerned?

Edzi,

I have always been one who has been castigated by certain members on here on being too negative on this share turns out most of the time many of the negative posters have been right whilst I don't quite subscribe to all you have written most of it I agree with.

My opinion as to how this sp can grow has certainly been tempered over the last 2 years as more and more predictions and forecasts turn out to be inaccurate more and more finance and dilution required and still not arrive at the things being said. More changes of focus.

My expectations have been lowered drastically and 10p now seems a fair bit away. It just gets more and more like an aim lifestyle company for Leon and his mates. Still haven't got over the 1p options:)

Keep posting always good to have contrary opinions regardless. Maybe the sole focus on Copper will pay off or maybe not. We don't know the full picture yet it is still being painted (sorry that was Roan module 12 months ago).

The company made $6.3 mill net profit last year a small portion of that from copper so chrome and pgms whilst profitable are hardly blowing the doors off.

$90 mill for a net profit of $6 mill. Could be more profit this year could be less who knows. That isn't going to pay back $90 mill in 3 years. Of course depreciation adds back to the cash and this side of the business will carry some debt. Will that be transferred to the new entity as well? Still lots of unknowns we will just have to wait and see what it all entails before making a decision.

Made me chuckle that Shuvlin:)

Personally I would be happy with this deal if copper had produced 6 to 8k this FY looks to be 12 months too early for me at the moment but then in 12 months maybe the deal isn't there and chrome price collapses again who knows we roll the dice Edzi will we get a 1 or a 6.

The value of it is what someone is prepared to pay for it. Looks like they have accepted it. If you don't think it is acceptable then vote against it. Wonder what the main shareholders think?

This is a difficult one. The price seems about right for the sale as the chrome and pgms are high volume but low profitability at the moment. The $90 mill could turn out to be lower in the end and also it is staggered payments it isn't as though they are getting it all in one go. Selling at a time when the copper profitability isn't there is risky at least chrome and pgms underpin the sp. More shares issued as well don't they have any cash?

The pressure would now be on copper to really perform and take off and make money as we still have over 3 billion shares with what would be less profitability at the moment.

I am not convinced by a dividend in the near future no matter what they write in an RNS this seems to me to try and make the deal more attractive to shareholders as the cash will be needed to expand the copper production fast to offset the loss of the contribution of chrome and pgms but there are opportunities we just know JLP have a habit of spending money for little return. The FD needs to make sure they don't waste it and deliver on projects.

Copper is the way to go for the future am 50/50 on this. Would be a lot happier if JLP had hit their targets for copper this year instead of being 12 months behind you can't ever say this share isn't interesting:)

Quite possible. They could also pull the waste from different parts of the site and build up a pretty accurate profile of the site processing 10 mill tons. That would be invaluable information for JLP and future processing.

My take on it as well Seis regarding the cash raised. The third party will have an initial rough expectation of how much money they will expect to make per tonne of waste processed and will revise and fine tune it as they process more of the waste depending on this may well determine what happens in future with them and how any possible joint venture may be negotiated.

The unknowns are how much initial copper is in the waste. How much can they extract and what profit they can make after all costs subtracted from sales. When they can put accurate figures on these then a more accurate valuation of the OB1 can be arrived at and how viable it is.

Unlikely we will see that kind of information possibly grade processed/grade recovered and maybe oxide/sulphide split. Who knows will look forward to any updates on it. Hope the third party write their part in it in our RNS might be able to understand it then:)

Why the insults I haven't insulted you? Not my fault you fail to interpret what is written and then go off on one to try and support the argument that is in your head regarding "copper sales" and "it was all down to copper why the sp is lower than NAV". Never said either of those two things you got it wrong.

I have corrected you on both your erroneous statements but no reply you just then go hunting round to save face starting with "sentiment" and then insults. It is the kind of thing children do when they can't get their own way.

Anyway if you have nothing constructive to say let's leave it at that I'm sure the rest of the board have been entertained enough for one day.

The one who loses an argument usually ends up resorting to insults

Curious and curiouser.

Do you actually read what I have written Gotreal or are you so blinkered to try and score points to back up your non-existent argument? I didn't say sales I said about copper which means everything about its performance not just sales. Unbelievable.

Sentiment is an opinion. How do you think opinions are formed? Do you think they use information available to form that opinion? If the information is bad do you think that will affect said opinion and then sentiment? Or do you just look at shares before you invest and think ooh that has good sentiment or would you look at the financials, assets etc and form an opinion before you invest.

Good luck with your sentiment investments you will need it.

Keep digging lol

For example once the sellers had cleared off the sp had a nice little rebound up to 4.5p or thereabouts then JLP put out their latest RNS about copper and the sp has now dropped back to 3.5/3.8p still think it has no effect underperformance of copper?

Or was it just bad luck and some of the posters on here being negative? Or all the traders selling out? We are where we are Gotreal hopefully JLP will turn it around over the next 12 months. A good indicator for you keep an eye on the bottom line net profit 10% of turnover and above will help. Last FY it was a little over 3%.

With the sale of assets the FD is trying to drive that up for FY26. If Seis figures are close and he isn't usually far out with his gross profit then net profit may increase from last year and the percentage of net profit to turnover may creep up. Net profit is always much harder to work out than gross too many variables. I am hoping for 5% of sales this year still poor but going in the right direction. No good having massive sales if it doesn't translate into the bottom line.

I still think there is money to be made here from this level Gotreal (feel for those who bought in at 15p or above they may have a while to wait for that) see not always negative.

I never claimed it was all down to copper other factors play a part also but just saying NAV is 6p and that is where the sp should be isn't right

I have had that as well Shuvlin yes splitting the assets was a good idea Chrome and pgms have done well in a difficult time for pgms.

Gotreal they made a loss on copper for the first 6 months see what the second half does therefore your assets are not being used effectively and efficiently your assets are then not worth as much as you think until they start performing to expectations that is why the sp isn't 6p. Vultures pick up asset rich poorly performing companies cheaply and asset strip them by the way not saying that would happen.

Nelson you are right. Selling shares not Leon's fault agree Shuvlin. The management and failures of the copper process absolutely Leon and constant failures drives the sentiment. They have never hit a copper target. Now if he were to start delivering and achieving constant targets and improve the bottom line over a sustained period of time then sentiment would change for the better. Thank goodness for Chrome and pgms. The recent sales will help next FY.

The RNS was appallingly written not much change there. I said a few weeks ago thought Leon looked very subdued and careful with what he was saying when Slater's FD was sat next to him watching and listening.

Just hope Slater don't decide they have had enough.

$42 million would be good Seis and you are not usually far out. Thought $17/ton maybe a little ambitious but I wouldn't argue. I think Copper will be loss making as they haven't made much in the second half and costs will still be relative compared to the first half. Might have saved a bit on electric with Roan not running.

Looks like we are looking at 6-8k copper for next year which is pretty much what they forecast this year. See how it goes couple of months or so we will know. Would be good if they start to monetize the build up of pgms via the third party.