Member Info for Jonah58

Shorty, NavSeis was drawn our attention to the MUO between the UAS, Zabmia and the DCR as a potential source of funding for an enhanced colbat processing operation. There have been clues and hints in JPL’s tweets, for instance.
I do recall an RSN indicating news of a decision re processing capacity for the northern strategy in January too. That will need to come on Monday but I’m not betting on it.

I can't help it, Bushy! I'm a mathematician, and mistakes give wrong answers.

You are right, Bushy, to raise the issue of DCM about which, as owners of this company, we are entitled to ask questions. The asset is far from trivial and the silence does not inspire confidence. Of course the matter is still sub judice and hugely complicated (https://www.miningweekly.com/article/legal-tug-of-war-shutters-one-of-sas-richest-chrome-mines-2020-12-18/rep_id:3650 and https://www.news24.com/citypress/Business/limpopo-economic-development-agency-fights-to-retain-mining-stake-after-chinese-failure-20200126)

However, I don't see how you can expect to be taken seriously when you get basic facts so demonstrably wrong. ASA ( a chinese consortium) not Samancor, stopped mining because of strikes, debt and diminshed chrome prices. There was no legal dispute at that time. The dispute arose when the business rescue agency sold the business piecemeal to Cheetah (the mining license) and Tubatse (the smelter. Samancor peripherally involved here). The Limpopo Economic Develop council claim that their previous stake in Dilokong entitles them to a stake in the new vehicle. Now at the highest court of appeal, I think. Meanwhile Cheetah have won an injunction against the sale or use of the tailings dump.
Jubilee developed its fine chrome processor there in partership with Dilokong and subsequently ASA. It was very successful and attracted much industry interest. When the biological waste encountered the ventilatory apparatus, they wisely moved the whole caboodle to Inyoni - at least Cheetah haven't got their predatory claws on that.
All this shenanigans can, and does, occur in all sorts of businesses. It is not unique to mining.

I agree it's frustrating, Short, but history does not support your thesis. I remember when this share languished at around 3p for a lot longer than it has been at this level, and when news came, it was good and the share multibagged. I simply do not accept that the lack of Sp movement implies doom and gloom.

So Slater has crossed a threshold and has to notify, but the number of shares disposed of is minimal. Indeed I wonder if the reduction in voting rights below 10% is simply due to the recent exercise of warrants in creasing the total number of voting rights. Good to see Slater investments holding faith with JLP!

I like your reasoning Seis! I have just one quibble. The MOU goes out of its way to talk about ethical sourcing of materials, transparency and, quite overtly, corruption. So my view would be that the US are throwing out a warning to DRC, rather than China, that the cobalt must be ethically sourced to attract 'private funding'. Whoever the target of this caveat is, It didn't take long for Jubilee to tweet a picture of 'responsibly sourced' cobalt oxide, (as you have so pertinently pointed out) !

Was 1m but had to sell a lot last year as I needed cash fast. Now 350K.

Bushy is right. Sable is configured so that it can produce either copper or zinc but cannot do both at the same time. It can, however, switch quite easily. We should also remeber that the Roan concentrator is much nearer the proposed Northern processing facilities than it is to Sable. In the long run, therefore, if commodity prices are favourable, Sable could switch to zinc/Pb/Vanadium with all our Cu/Co production centred on Kitwe. I am looking forward to clues in our decision about the capacity of the Northern Cu/Co processing facilities which, by my reckoning, we should hear about fairly soon.

Well, that's virtually all the warrants out in the open then. Lets see if the 2 shareholders hang onto them. I would!

Thanks, Chester, for answering my question.

I take your point, gotreal. Just asking to be educated! But what is to stop me shorting JLP today and then exercising my warrants tomorrow and using the shares to cover my short?

gotreal - I have a poor understanding of day to day trading on AIM, but I note nigh on 2 million shares disposed of in big tranches. Could someone be forward selling warrant shares to fund their purchase before they expire on the 19th? If so, we could have a way to go, but that will the largest batch done and dusted.

Seis, I have shares in ARCM and visit the board regularly but tend not to post as a) I am not too knowledgeable about the company, and b) the board sometimes gets a bit toxic!

As a PS to my recent response to E10, suppose we do process some ROM material at Sable and that may be impacted by shedding. However, we have plenty of tailings with good Cu grades to tide us over. Maybe cobalt could be impacted if ROM decreases since the tailings have little cobalt, but overall it looks like E10 is 'flying a kite' here.

The RNS was 19th December E10. Worth a read. I'm not too sure about about how relevant a discussion about guaranteed/non-guaranteed power supply to mines, is to a company which does not have a mine!

Sothern strategy is now at nameplate production, Ella. It's in the RNS that power supply issues have been dealt with. This does not, of course, apply to SA where there is no recent news about the effects of power shedding as far as I know.

Thanks for posting the copper price figures, Homey. I have just plotted them against avergage Sp for the corresponding months. The Sp plot looks remarkably like the copper price plot, but shifted to the right by about one month. I'm sure Seis would make a much better job of it, but the correlation is striking.

Northman. I think we are now out of Cyprus. https://www.lse.co.uk/rns/CMRS/cyprus-joint-venture-termination-huz4edhv4begnx0.html

Northern. Very good point. Hope you're right. I'll light a fire and pour myself a Tequila sunset [sic] to celebrate todays rise!

You may be right, NShark. Alternatively, investors could just be looking at the price of copper which is recovering fast from its 2022 decline. Since, say, mid October the price of copper has gone up $1500 per tonne. With our fixed costs, this goes straight to the bottom line. Taking a conservative nameplate capacity at Sable of 12,000 tonnes, that equates (if price maintained) to an increment in earnings of $18 M per annum. As Seis has nicely shown, as a metal producer with good (not wafer thin) margins, the main driver for our Sp will be commodity prices.

BB2 Tue 1703

Good thing we’re not a miner.