Member Info for Gray1

· For general working capital purposes.

Taken from the last placing RNS so some of that money was expected to be used as they anticipated a potential cash flow issue.

This would suggest there was a potential short term cash flow issue which Kalan highlighted and according to JLP there was whilst they advanced the module process which they also raised money for.

There was a temporary working capital cash flow issue JLP said so why deny it? Hopefully we have seen the last of it and cash from the chrome process will offset any possible further short term issues whilst we wait for the Copper ramp up.

Ardbeggar yes they have a binding agreement. We don't know the exact terms of that agreement and any good company will have a get out of jail clause in it if the terms turn out not to their satisfaction it's just good business sense. It is nice to have though. Until they physically but some money in only then will that be a green light for me and all systems are go.

That's not strictly true Shuvlin they poured a ton of money into the tailings process and that hasn't really worked.

Have IRH actually put any money into this or do you think they are waiting to see what the figures are when this gets up and running?

The difference between you and others like you are absolutely certain this will work and that is your opinion and it is fine. Whereas I and some others because of JLP past history on Copper output want to see the proof of the concept turned into actual production numbers. What is wrong with that?

I have 1 million shares here at an average of 8.2p my biggest regret is I didn't sell half at 21p but I believed the copper tailings strategy and greed played a part. Having said that if I had sold half I would have bought them all back when they were at 5p purely on the Chrome success and would then hope the new Copper strategy would be successful to give me an even better return.

There is no conspiracy here on my part Shuvlin. I have also worked out what I think the chrome and pgms financials will look like next year to support what I believe will underpin the sp if anyone is interested.

The last one is just your personal fantasy Jolly1

Actually gotreal thought you would have corrected me with the delay I got that wrong. There was a 9 week delay then a 6 week delay and now a further 6 week delay so 21 weeks altogether waiting for an electrical component and you wonder why I am cautious about copper 5 months waiting for an electrical component that is poor by any standard.

I suppose that is my fault as well because what you don't know is I have it hidden at my house and I am holding JLP to ransom £1 million or they never see the chipboard again oops can't say that as they haven't seen it at all yet.

You have got to have a joke in life gotreal and not take a different opinion as a personal attack. Enjoy the rest of your Sunday.

Nothing is certain gotreal only death and taxes. I want to see numbers materialize and until they do I am perfectly entitled to say maybe particularly with all the previous copper false dawns and 4k copper is not the 25k we should be at now as originally planned.

I will be just as happy as you if and when we hit 1k per month but we haven't yet and we are already 2 months behind that schedule.

Thanks for your support Edzi. I was beginning to wonder if I had ventured into an alternate universe.

No animosity to you gotreal. Like you I want the company to do well we will just have to agree to disagree sometimes.

I have no motive. If JLPs copper strategy had been successful over the last 2 years do you think the share price would have dropped from 21p to 5p now back to 7p. That wasn't my fault. Whose fault do you think it was?

I don't come on often usually when we have an RNS and there is something to comment about. Thought the Chrome was interesting and an improvement copper still crap but once it gets going maybe that will all turnaround.

You need to see someone about the paranoid gotreal I am in no position to determine JLP's future only they can do that. I just don't accept your view that everything is all hunky dory at JLP. Business isn't like that. Don't worry I will go back into my shell so you can command the board with your everything is good nothing to see here attitude.

I have noticed with you gotreal if anyone says anything negative about JLP they have an agenda. I want JLP to be successful it makes me money and that is why we are all here doesn't mean I have to accept everything has gone to plan at JLP it clearly hasn't with Copper.

Not negative just realistic. I do hold other shares but that is personal to me and none of your business. The previous copper strategy failed gotreal you need to accept it I have . So have JLP they have moved onto modules away from the tailings maybe they will come back to it and with a higher copper price maybe it becomes more attractive.

I have been positive about chrome and pgms I am not negative about everything they do just have got roes tinted specs on like you.

That should be 25k tons of copper although 25 tons of copper is closer to the actual copper production.

It maybe viable gotreal but JLP haven't managed it yet certainly not in the quantities they originally claimed when this all started out otherwise we would be on 25 tons of Copper a year by now. Sometimes you have to accept failure it looks like JLP have and have moved onto copper modules.

I am not making an assumption it didn't work. They had plenty of time trying to extract copper in decent commercial quantities and they couldn't do it just look at how much they have produced over the last 2 years hardly any that says to me it didn't work certainly not as they expected yes they made a little bit of money on it.

They have since changed direction fair enough. I don't expect updates every five minutes. Draslovka has been months without anything said hardly 5 minutes.

Hello again. Thank you for the kind words Kalan.

Mikie this is where I disagree with you. I think the tailings weren't commercially viable that is why JLP changed direction to the module process and also involved Draslovka in improving the recovery and cost of recovery for the tailings.

Nothing wrong with either strategy it is what company's do when faced with problems.

There is also nothing wrong with the module process for copper now being the main focus what I take issue with is what decisions have been taken with the tailings process from the Draslovka findings and how will this be taken forward or not at all. They simply don't tell us and that isn't good enough.

What they fail to realise is everything good or bad comes out in the end so if it is bad report it. Report what you are doing about it so you look in control and get ahead of the bad news.

That may well be the case Seisnav regarding Draslovka but the problem is they don't tell us. If they are doing more work on it fine tells us if they are putting it on the back burner for now then again fine tell us even if they have decided it is not commercially viable then tell us. A lot of money was spent on tailings and this process mainly through share issues so we have a right to know what is happening with it whether good or bad don't just forget about it and hope it will go away. It just breeds mistrust and lack of confidence.

Thanks for all your input interesting for me anyway.

Absolutely Mikie I have held on for copper more in hope that faith and the only thing that has kept me interested is the chrome success (pgms was also can't help low prices).

I don't like JLP communications still too much guesswork. What happened to Draslovka? Trouble with JLP when something doesn't quite go to plan they go quiet or conveniently forget about it. Much better to be open about things same with the electronics at Roan they knew about this delay again awhile ago and only communicate it at the last minute.

Things go wrong in business nothing wrong in saying so or being a bit more flexible with timelines manages expectations better. JLP are rubbish at this unfortunately and yet they do some things well it is a shame they continuously shoot themselves in the foot with poor comms.

You are always positive Mikie. The 20k doesn't excite me too much as we couldn't process that ourselves at the moment and the margin is probably not there at today's prices for someone else to do it. Can always stockpile it though for when it is I suppose or acquire facilities to do it ourselves but not a priority at the moment.

Yes Chrome could be more than 2 million tonnes also which is a bonus. I will be looking closely at the 3rd quarter margin for chrome that could be revealing.

I get that seisnav but I am more interested in the numbers first quarter 10 dollar margin, 2nd quarter 23 dollar margin (net 17 dollars). When they put some numbers on for the 3rd quarter I can work out what the 3rd quarter margin is and if I am seeing margins of 30 dollars or more for the 3rd quarter then maybe 50 becomes more realistic until then it is just words and whilst that is nice I am more interested in actual numbers with JLP.

I am just looking to be realistic. I hope 50 dollars plus margin is reality but at the moment that seems some way off but I am happy with anything over 30.

I accept your figure Mikie as the margin will have improved as we sell more of our own processing and I accept it will improve some more as the new module comes on line later. Even at 30 dollars a ton it is 60 million dollars gross. I think that is pretty good and the chrome process has been a real success story.

Shame copper hasn't been so far and has cost a ton of money more and is 2 years behind where we should be but when the world champion seeker is brought on board and can find the electronic components then hopefully that will turn the corner.