Member Info for Gray1

It's a nice thing to see Gotreal but until JLP confirm they getting a consistent 6% then it is only speculation. Ardbeggar and Kalan are right and just being realistic. There is no need to be so agressive.

Kalan,

My optimist head hopes for 6k copper but my pessimist head says 5k.

However the production of copper in the last quarter will be a good indicator for next FY. If they can hit 2.5k/3k then 10k to 12k is possible but this does include the waste at 1.6% and that comes at an extra cost.

Time to deliver Leon no more excuses.

Dgh,

They didn't pay anything for the shares in terms of cash they swapped shares for waste. The value of the waste was deemed to be 2,17 mill plus whatever they get from production of copper. However if they sell them for less than this value i.e. 51 million shares for 3.3p around 1.7 mill (can't be bothered to work the exact amount out) that is up to them.

I haven't sold Edzi bought more at 4.7 not looking good with that purchase at the moment. The institutional selling has killed the share on top of JLPs frustrating habit of not delivering copper. Hopefully they will turn that around in the next few months.

Looks like a good decision that Seisnav.

The half year should be similar to last year and the 3rd quarter probably won't be great unless they get Roan cracking and have a good March. Pretty much everything is on the last quarter to turn it around. Chrome may help if the margin is better. All down to Roan ramp up and increased copper delivery now to turn sentiment.

If the share distribution was similar to the mines deal where they only had to hold around 10% then maybe the sales are part of the 51 mill shares issued as they only have to hold a small percentage it did say up to 180 days but what do I know drip, drip, drip this is like chinese water torture.

Loot,

It is fair to say JLP were going to miss their copper target for this year due to the impact on production due to the power issues.

To mitigate this they have seen an opportunity to buy in higher grade copper and it is fair to say we don't know the actual cost of this material so whilst I don't believe the profit on this material will be as high as for example copper processed at Sable there will still be a profit in it.

If this enables JLP to hit their target that is a good message to send to the market even if it is at the low end also if they can hit a production of 1k/month even if it is only for a couple of months this financial year again another good message to the market showing JLP have turned a corner.

They haven't changed strategy Roan gives them this flexibility to do this.

Nice Bubsy good news. I like to see them use twitter for things like this it does help sentiment and it is an easy way to keep stakeholders informed when an RNS is not needed.

Yes the IRH deal is a real grey zone when it was first mentioned to fast track back in Nov 23 ( long long ago now) whilst I never liked the 30% part to JLP I could see it as a fair deal if it was going to be fast tracked and by now JLP should have had pretty much 4 modules up and running or close to it.

In reality we have none so the deal is not as good as it was also the OB1 price has come down from $30 mill to $18 so it becomes more and more feasible for JLP to do it themselves and take their time and get 100% of it. Why give any away as they have already paid around half off and paid for all the research, testing and development they only need 1 module to kick start it and the rest all falls into place from the output of that one module plus Sable and Roan.

Before I get picked up on not a lot of profit I am referring to the 200k tons bought in as the cost of buying it will reduce the net profit from it even though there maybe some economy of scale to offset some of it.

Edzi,

Until we get a TR1 confirming xy or z fund has past certain thresholds or are out it is all speculation.

The only thing that will change the sentiment here is JLP hitting their copper targets with the strategy to buy in and accelerate a higher copper content then they maybe able to get close to the lower end of the target for this year (5950 tons).

I don't think there is a lot of profit in it but achieving the target will go a long way to kick starting a change in sentiment until that happens I am afraid we will languish around where we are at present.

They don't recover 100%. If memory serves me right is is around 60% plus leaching may add a little more. Whilst it is good news be careful with overall copper production expectations. Seisnav you are a bit more clued up on recovery rates is this about right? Without me trolling through RNS.

No thanks. Troll it somewhere else.

Looks good.

Won't get anywhere near 40p for a long time yet Kalan if it ever does. 10 to 15p in the next 18 months would be decent. I will take half off anywhere in between there.

If they go it alone on OB1 then that could be different as long as the grades are what they say they are. As it stands they probably owe around $9 mill to purchase it. Add in the cost of 1 50k/month module with inflation cost around $7 mill. The $9 mill they can continue to pay down until December. So they only need $7 mill immediately.

For an initial outlay of $7 mill they could get a module up and running in say 6 months that 1 module over 12 months could potentially deliver about 6k tons of copper even at only 4k gross margin it is $24 mill over 12 months easily purchase 3 more. In 18 months they could own it all and have 4 modules running. If I were their FD I would be all over it.

That would be good Mikie 1k/month for a few months would give them a chance to crack 6k for the year which would come in at the lower end of the current forecast considering all the energy issues they have had that would be a decent result.

Also it would give a 12k plus for the next financial year if that was to continue which would be even better and not factoring anything in for what happens with OB1.

I was happy with the original forecast when it came out at the time. A number were disappointed but considering what has gone off it may turn out to have been fairy realistic even if they downgrade the forecast and it comes in at 6k they can still claim to have been within the original parameters. Delivering on expectations.

Looked obvious to me but as long as you are happy now we can move on.

You are nit picking again Shuvlin. I put theirs in quotes and I said it was a ambitious don't you think. What are you try to prove? Don't you think it is ambitious I never said they said it. Read it again.

I did Zeus capital look back at my previous post agree not the broker.