Member Info for Gray1

Ask them at the Q & A how much actual cash they received for it.

The third party will process the material deduct costs after sales and JLP will get a retainer from the profits which will be a lot less than $6.75 mill or something similar.

The good thing about this is the large scale trial results which will give them a reasonable expectation of what they can make out of it and JLP will get some cash from it. It also frees up Roan to concentrate on their own material. It is a good deal Gotreal just be careful with how JLP word their RNS.

We'll see Gotreal as it should be in the accounts:)

Absolutely because if it had been sold for that then they would have said it. Value and sold are not the same.

I agree with El value at $6.75 mill not sold for that but looks promising as ever with Leon let's see what comes from it.

I understand what you are saying Kalan if JLP had not invested in Copper and just remained in Chrome and pgms would the sp be higher undoubtedly it would but there isn't that much growth it that side of the business now especially with the low pgms price so JLP would have to be looking around at other prospects.

Jlp need to stop chasing rainbows and concentrate on monetizing the existing asset base of Copper they have built up. Next year capital projects should just come out of cash generated i.e upgrade sable, 1 module at Monkoyo possibly 2 if cash allow. Purchase more 1.6% material and aggressively drive these assets for the next 12 months.

Put OB1 on the back burner until they generate enough cash for 1 module and then develop the rest from the proceeds of that module slowly build it up.

Drive costs down on Chrome and pgms. Even possibly run the stockpile of pgms at the 3rd party generate extra cash which they could use to buy limited amount of shares back and cancel them at these low prices.

All the above sends a strong signal to the market that JLP are in control and making money. Once all the upgrades are done and this side of the business is generating cash then explore other avenues of investment and revenue.

They can't keep buying assets that they have to issue more shares for and than need extra cash to try and get a return on. It reminds me of retail company's that used to borrow and open more and more stores until they run out of cash and then go bankrupt. Hamster on a wheel.

JLP have good assets time to turn them into money and shareholder value. They need a much stronger chairman to keep Leon and the rest of the board in check to deliver on existing assets.

Hope so Mikie we need some good news long way still to go but let's hope all the bad news is behind us.

Not sure they have the numbers yet as they probably haven't got Roan running full speed on the bought in material and might not be sure when they will achieve that as what Leon says and what he does never seem to match up.

We shall see expecting a downgrade in copper to 3.5-4.5k now. Even if I am wrong I will be a lot closer than Zeus 8.4k. Leon must be writing their notes for them.

Maybe they haven't quite got it working to capacity yet Sumo. Who knows. After those financials the market clearly thought we are overvalued at 3.7p. How low will it go before it starts to recover. Kalan what do you think you are the chart guru.

Seriously. Sorry guys but the sp is where it because the blame is solely at JLPs door nothing else.

Looking at the financials again. Cash down $11 mill and debt increased by $9 mill. They really need to start turning this around. Over the 6 months they generated around $10 mill cash from operations.

Around $30 mill cash spent. Plus all the shares issued. No wonder the sp is nearly in the 2s they really need to generate more cash to finance Copper strategy in the second half with Sable and Munkoyo modules to pay for plus more if they buy in more 1.6% copper. See what the second half brings in.

Just as an aside I would really like to see them quantify what the actual leaching trials did not the vague comment they put in the RNS. I also wonder whether they couldn't demonstrate the viability of the OB1 to IRH considering the capital outlay and return IRH expected.

"At least that will look good ;-)"

I like it Shuvlin at least you put a smile on my face with that.

We'll see bottoms up. 3rd quarter will be poor so it is all on the last quarter and no matter how good that is there won't be much net profit in copper this financial year. They still don't know how much they will make and there is only 3 months left. Guidance to issue with 2 months left JLP can hardly miss any new target they forecast with only 2 months to go.

No mention of 8.4k tonnes of Copper from Zeus Gotreal?

Shuvlin,

No good being twice the size if it doesn't make any money and they continually issue shares to keep growing it. Let's see what the final quarter will do as the third quarter will be poor also where copper is concerned.

There is snippets of good stuff concerning Chrome and pgms Nice but where is the bottom line profit? Even going forward current net profit is less than 2%. They are a long way from being at least 10% which is where they should be. There isn't much good to take from that RNS and yes forward looking should be better but investors have been saying that on here for the last 2 to 3 years.

Yes Summit and we will get fleeced again when they have to raise more money. At the moment I will be highly delighted if I just get my money back. Slater cannot be happy with this.

The only good side is Chrome and pgms held their own in the gross margin and should improve in the second half. They will have to do as the increase in costs are extremely worrying.

Copper made nothing and unlikely to contribute that much to the net profit this FY. Sable still on track to complete by end of this year. Pressure is really on Leon this quarter.

Wow virtually no net profit on $141 mill sales a lot worse than I expected. They really need to get a grip on costs. No good crowing about increasing sales if it doesn't translate to the bottom line. They just look like busy fools.

No profit on Copper. IRH deal dead no surprise there been treading water with this for 12 months. You called it Frogkid. Gotreal owes you an apology. They knew Leon been stringing us along. You don't go from deal expected to be concluded in March to we haven't had time shocking.

Looks like another $13 mill capex needed for modules at Monkoyo so another raise highly likely as the business is generating very little cash at the moment.

Sp on the back burner for another 6-12 months. Dreadful RNS is there any wonder they left it until the last minute.

Copper guidance put back another month year will be nearly up by the time that comes out prepare to be disappointed. Have they spent more cash as well to buy the 200k will have to reread that.

Is JLP just another aim lifestyle company beginning to look like it. They must be due to issue some more 1p share options. Anyone remember Pete Landau? Leon must come from the same stable.

General consensus is we will all be pretty happy if we are hitting around 1k/tonnes per month for the last quarter and from Siesnav's figures that doesn't look beyond JLP to deliver. Not long to wait now.

We shall see how accurate Zeus capital are:

Almost 1 mill tons of Chrome for the first 6 months and Zeus are saying only another 700k in the second half with Thutse 2 & 3 up and running for the full 6 months to hit only 1.7 mill tonnes they should easily beat that and will be close to 2 mill.

pgms 36k easy to predict.

Copper 8.4K so they are saying JLP will do 7k in the second half. That is very ambitious considering Roan was shutdown at the start of the third quarte and probably taken a while to ramp up. Sable maybe producing more but 7k is highly unlikely.