Member Info for Jonah58

I agree that licensing is not the way forward. I don’t think we use any process that is not generally available. Our IP lies in our ability to design flow sheets that optimise efficiencies for each individual dump. I guess we could act as consultants for other companies but the joint venture model seems to be preferred.

Interesting to note that our head of Zambian operations was the chief processing officer at Mopani under Glencore. He should know it well.

Can't even start to answer that, Divoc until we know what sort of split the joint venture entails. We are providing (most)of the material, we are building the physical separation units and we are upgrading their facility. They are providing the site, the sulphuric acid, Mufilura tailings (maybe) and presumably services such as water and electricity. My guess is that we will earn a better than 50:50 split, but who knows.

Lechwe is a kind of antelope with long horns. In Zulu, Inyoni lechwe translates as bird of prey! Looks like we are going all out in Zambia. There is yet another dump buried in the RNS. I also like the proximity of Mopani's facility to our tailings projects and the talk of acceleration.
Finally, I note Sable will now not be fully committed unles more surace material/ROM ore becomes available. Hopefully we can use this capacity to make a start on zinc and lead.

In my humble opinion you have a very good invrstment decision, Tiger. The best of luck - I think this will go big.

Edzi. In the judgement handed down in the case of Cheetah vs Jubilee the value of the tailings was estimated as SA Rand 150 million. So that was where my figure came from.

Thanks JLPos for the reference. Great information. It reads like a thriller! What is truly amazing is that this judgement was enacted in November last year and we have not heard a peep about it from our company's BoD. As owners of the company us shareholders should certainly have been told about this. I can remember the days when the tailings at DCM were our biggest asset and the subject of numerous RNSs. OK, they now contain material which is worth a 'mere' £8 million and Cheetah can't process them without our help. Maybe they will sell them to us?! No wonder we dismantled our fine chrome facility and moved it to Inyoni pdq. Hope Cheetah don't raid our property to get it back!

One further point, Homey, about your figure for 'yield' per tonne. From the latest RNS it looks like the western limb yield is 0.045 to 0.048 pgm oz per tonne, but I don't think that takes into account the added beneficiation from the fine chrome circuit which should measurably increase the concentration of pgms in the feed. In summary, I think your fiures are a bit too low.

Helpful post, Charles. I have been batting on about DCM for some time. Do you have any info on the legal wrangling that has been going on, or has it all stalled, leaving us in limbo?

Spot on, Sumo. There is a trade off between realising the full value the PGMs and the benefit of accessing increased capacity via Eland. As we do not know the details of the Northam deal we can only speculate how it will pan out.
For me it is more important that the whole low cost Inyoni set up is now on schedule to generate huge profits for years to come and I am less bothered if one year it is slightly less huge than the previous one.

Yes

Yes, Homey, but when did it cease? How much of last years 50,000 + ounces were attributable to Eland?

Poker: it all depends on the trial design. Just how many patients with the agreed selection criteria will we need to show just what efficacy in just what outcome measures at just what confidence intervals! As Nolupus says, you can throw money at this by enlisting more recruitment centres. For the previous Phase 3 study there was an exclusion criterium "The patient (is excluded if he/she)has previously participated in a ImmuPharma- or ImmuPharma-sponsored clinical study with IPP-201101." This would effectively exclude a whole cohort of patients who might be suitable in every other way. So I would be in agreement with others, 2 years start to finish would be optimistic. However we saw with the last trial plenty of Sp action during the recruitment period.

It is difficult to comment, Homey, constructively or otherwise, without knowing the precise situation at Eland. How many ounces of PGM did Eland contribute last year? How many ounces do we expect it to contribute next year? Without these figures the calculation is very hard to interpret.

You could tell from some of the fatuous comments posted earlier that this was being pumped for a quick 10%. Traders now running for the hills.

Truth is that this is a small step in the right direction. The PK study should be cheap and easy (not too bothered by the males, Nolupus). As a latecomer to this party I am surprised it was not done ages ago. I would be horrified if it turns out that we have got the pharmokinetics all wrong.
Meanwhile book your late Mediterranean holiday, buy shares in PCR companies and, oh, don’t forget the sun cream.

Yes, great RNS. PD seems at pains not to raise expectations too much for H2 2021 but it looks like things will take off next year. I am not sure to what extent COVID has affected our order book and/or operations as opposed the the problems with shipping and distribution. If the latter is the major problem, then there should be a backlog of orders just waiting to be shipped which should be reflected in next FYs figures.

Agree, Sumo. I would prefer not to pick an argument about the reprocessing of chrome tailings with the ex chairman of 'SA Chrome'! However, I would defend anyone's rights to make a negative suggestion here. We are not a bunch of cheerleaders and in researching my occasional response to some gloomy prediction, I find I am getting a better understanding of the company. It is a historical truth that the contents of CB's interviews is best viewed with a degree of scepticism, though the recent I found very encouraging. I would be massively surprised if there was another call for cash unless some fabulous unexpected opportunity presented itself. This happened with Platchro - we were not there was no immediate need for cash but then Platchro came up and we nabbed it (with a lacing). This turned out very well for investors in the long run.

I thought the upgraded capacity of Inyoni PGM is going to be 75,000 oz per annum, Dorf. As the expanded facility is due for completion in Q3 2021, this would give us a projected PGM production July2021 - 2022 of somewhere between 68,000 and 70,0000 oz PGM.

North, I think we are trucking the tailings. The deal is with a chrome miner, so they will have had most of the chrome removed already. That this is deemed economically viable speaks volumes about the situation at ASA (Dilokong). We have a whole heap of beneficiated stuff there, and I really think the RNS should have bought us up to date about that, even if it is only to outline the legal situation and what is being done to resolve it.

We have been told that the zinc circuit is planned to advance in H2 2021, so technically there was no need to mention this in an operations update which does not cover this period. I will certainly be asking questions if there is nothing forthcoming by Novemeber.

The problem with tailings, Hoke (and mines for that matter) is they eventually run out. Our original tailings project at 'Hernic' had a projected lifespan of about 6 years, that is to say it would be running out any time now. We have increased the chrome processing facilities specifically to avoid this and keep the cash coming in while we develop further projects.
I am pretty sure, however, that Leon wants to repeat the Inyoni success story on the Eastern limb. Once he has secured a viable long term supply of material he will want to build Inyoni 2 over there. It will require a lot of capex, but as we have seen, becomes hugely profitable after as little as three years. I suspect we will be getting news of further eastern limb deals in the not too distant future!

Yes, that was always the intention. Even with the enhanced processing capacity for PFMs at Inyoni we will be producing more feed than it cope with (assuming all chrome processors plus trucked in stuff from eastern limb are included). The desired effect is hugely to increase the life of the project beyond its original 6 years. Our cash cow has now a long life expectancy!