Member Info for Gray1

Look identical to me too. I don't see copper having much affect at the moment Seisnav the delays probably having too much drag on it so probably want to see numbers improve or just Roan in full flight but the market definitely hasn't picked up on Chrome yet.

That explains it thanks Seisnav.

RNS in March so not relevant.

Just noticed on the Chrome figures Seisnav published the second quarter price was down and yet the gross margin increased from $10 to $23. I wonder if they got a better margin for the 40% toll processing. Forgot when it was renegotiated.

Give it a rest gotreal or the board will end up in another slanging match with multiple posts being deleted like last night. It disrupts good discussion.

Seisnav post was interesting with the figures he posted.

Why do you let buttermilk wind you up so much?

Back behind the sofa for me:)

Thanks Seisnav for the figures.

The chrome does look good Mikie and a $30 gross margin is a distinct possibility for the 4th quarter.

We don't quite realise the full price for copper in the accounts. First half average 6.7k on an average copper price of around 8.2k. Now at 10k so there will undoubtedly be an uplift on the price JLP publish. I assumed 8k in my prediction for next year so it will be interesting to see what JLP show in their accounts for the last 6 months.

pgms moving up. I worked out what the gross margin was for the second quarter and it was only $96. I was looking at between $100-$200 for next year. Good signs.

Put your tin hat on Charles after that post. I've hidden behind the sofa:)

Northern

On the link Seisnav posted he said there was corruption but they are working on it to eliminate as much as possible and they have only been in power for 2 years. It will take time and there will always be some. Difficult to eliminate it all. Even western governments have some corruption.

That explains it. Helps you don't need the subtitles the translation was a bit iffy.

Seisnav,

I watched the majority of it. It was a hard watch but interesting about Mopani and how the bidders were scored eventually picking IRH as they were the best fit for the Zambian government.

Also the comments about fighting corruption.

Picking Jubilee to work with IRH on the "tellings and slugs" their translation:)

Not sure whether he said the technology wasn't quite there yet but they were working on it. It was translated so I might have got that wrong.

2 years to build and commission and another year to get copper out of it previous management didn't exactly cover themselves in glory there. Is there any wonder there was a reverse takeover looks like they have got their act together now though.

Profitable and less than 700 mill shares in issue. Looks promising for them.

Is it 5 years Gotreal? Says it was a reverse takeover of Green Tree and formed in Nov 22. No idea how long it has taken them from deciding on this process to getting there though. Never heard of them until today.

It does actually say concentrate in the quote they aren't claiming it is copper.

"The plant is forecast to produce in excess of 1,000 tonnes of concentrate per month within 3 months – 2 months

ahead of planned production."

Took this from Moneyweb site happydays that is a pretty impressive start ahead of schedule as well.

Gotreal I am not getting into a slanging match with you. It didn't materialize when it was supposed they have changed strategy.

Whether it materializes at what they promised I have no idea lot of work still to be done.

I am also a LTH Dorfan and I had great faith in the tailings process which didn't materialize.

All I want to see now is Roan running at 1k/month as promised until that happens I am cautiously optimistic.

Also earlier in previous posts I predicted an sp of between 13.5p-18p for the next financial year based on Roan producing 12k next year, Chrome etc. Of course this is aim and Roan producing maybe well received and the sp could spike above that. Then again I could be miles out.

Mikie explained it to me Frogkid. Looks positive let's see what happens. Sorry about the sp.

I posted previously Heroric the mistake I made was not selling half of my holding when it was 21p as I believed the copper tailings strategy partly my fault I was greedy and partly JLP as they failed to deliver on it.

Having said that when it dropped to 5p or a little higher. I would definitely have bought it all back purely on the success of the chrome and then would consider the new copper strategy to be a real bonus.

It is investing everyone is different. Kalan clearly stated his strategy in a previous post. I think frogkid buys and sells but has a large holding that he is in for the long term (correct me if I am wrong frogkid).

There will be many long term holders both in profit and underwater. Whether I lost all my stake here doesn't material affect me but I would like to see a substantial profit just like everyone does whatever their investment strategy.

No big deal to me you are out at the moment. If you are happy to let it drift to look for an opportunity to get in your choice but if they announce Roan is up and running and you miss out on a rise your loss but if that makes you and more people more confident of investing then that's fine. Nothing wrong with being cautious on aim I have both benefitted and been burnt on aim shares in the past. No-one gets it right all the time.

Frogkid,

You have far more skin in the game than I and are perfectly entitled to your opinion. No company in history has got it right and it is important to learn from their errors.

One example with JLP that gotreal posted yesterday regarding how they have anticipated water and electric shortages in Zambia. They learned this from not having it in place for Inyoni in South Africa.

Chupapie,

You are right the constant accusations of lying etc does the board no good. I would never call anyone a liar mainly because they may be mistaken, misunderstood or I maybe and in the future they may turn out to be right and I am wrong. No one is infallible.

I want to hear others opinion whether I agree or not and no-one should be discouraged from posting theirs. if abuse is in a post I tend to not take that post as being too meaningful and ignore it.

I believe JLP anticipated a potential cash flow problem when they did the raise for the extra cash they needed for the new project. They probably expected a potential issue in Feb, Mar or Apr when the bulk of the cash was needed. We will never know it is sensitive information to the company and rightfully so.

I think they knew this but also knew in the 4th quarter that Chrome was starting to really pile in the cash. The delay actually helps them as they are probably now stockpiling cash particularly from Chrome for the ramp up in May.

It was good business. They needed it quick to take advantage of the opportunity presented with IRH. All my opinion of course.

I have worked for a FTSE 100 company directly reporting to Operations and Finance directors different for them as they usually have plenty of cash flow or an easy access to loans. JLP didn't have that so did a book build for quick cash. The response to that was very good.

We are where we are just waiting for the Copper ramp up. Then I will have more figures to play with.

Actually this is where I disagree with Kalan. I don't think they are surviving until the end of June. I think the improved Chrome output Kalan has it covered.