Member Info for Jonah58

You sold at a profit, Fuzz. Better than the majority of investors in AIM. Keep doing that and you're a rich man/woman. I've regretted holding far more often than selling.

Patrick. Copper tailings processing has alrey happened. Some tailings came alongside the purchase of Sable and, to the apparent surprise of Glencore, we processedtop grade copper. As Moneyhawk pointed out, however, this was probably more a proof of concept as there was probably not that much material. It's nice to know that our process works, though, and that it can be appliedprofitably.

Nice to see tha current hike in price consolidate on the basis of reasonable volume. I think the steady gains now are being driven by the recovery in the basket price of pgm. Today's rise, so far, more than covers LCs salary for the next year! No need for ramping on this board.

I agree with the figures Jam/Billy though calculating the income is not feasible as some of the chrome concentrate will be 'ours' (the stuff that comes from our tailings) but the rest will be 'theirs', the stuff they''ve paid for us to process.

No Sumo, it has just started. I'm on it for the next ten minutes.

I have posted a question abou t Kabwe. I have to go to the quack this morning so will miss the webcast. I would be extremely grateful if some kind person could take notes and post the salient points here later.

Yes Happy, the market caps of JLP and SLP are comparable, but I think our diversity and intellectual property is now giving us the edge.

I agree Sumo, though I suppose we shouldn't be surprised. People are just beginning to see the real value here. A steady business, ready to break out; profitable despite adverse market conditions; low debt; very low P:E ratio; good management and strong fundamentals. Increasing cash flow raises prospect of a dividend. Steady increase in Sp on decent volume and absolutely no P&D hype. People getting in now won't be disappointed - a lot more to ome.

So, according to the article, a fair current price per share is 10.7p. This excludes future copper income, as far as I can see, though the analysis is somewhat generic being based on technical indicators rather than fundamentals.

Problem with expansion into Oz or Chile is the difficulty for a small company to keep its eye on the ball. We will have our work cut out bringing the current raft of projects to fruition. But yes, if a vast pile of dirt crops up somewhere looking for a benefactor, our BoD will surely get itchy fingers.

Mr Einstein: I bought in at 17p initially. Have traded a bit since. I reckon this share still has some way to go. As a company we are behind SLP, but are catching up and I believe the copper prospects are huge. My initial 17p looks a long way off, but not impossible. (PS I suspect we all have similar hard luck stories. I still have a sackful of worthless shares in what used to be Range Resources. At least you got out with something!)

Yes, Market, this looks good. I'll need to read more carefully, but at first sight it looks like the model is the same as our other copper projects. A joint venture with shared profits after we have recovered our upfront costs. Like the new developments in SA, the emphasis seems to be on extending the longevity of our copper production in Zambia. I like the frequent references to co-operation with the Zambian authorities, the lack of dilution, the projected time frame (quick) and the upbeat attitude generally. I also liked the reminders of our commitment to rehabilitation of environmentally damaging tails. Well done Leon.

Gotreal. Cut and paste from article: Anglo American (LON:AAL) – Class action launched against Anglo as a historical partner over alleged mass lead poisoning of children in Zambia.

I suppose because, in the light of threatened legal proceedings, they might wish to be seen to contributing towards rectifying historic wrongs.

Thanks Mogli and Jammer. That all makes sense. My slightly lower basket price probably reflects the small retreat in the price of rhodium.

So that makes our basket price on current valuations about $1700 per oz before processing costs which, I believe, are about 20% of the PGM price. ie, as a very approximate estimate, we should be earning about $1350 per oz. There is also a considerable delay in being paid, so what we receive today reflects the basket price in the past. Is that right?

I've given up trying to read anything into 'share trades' tab. Just not enough accurate information. The only thing I attribute significance to is the volume, which has been good recently whilst the Sp is maintained. The market, such as it is, appears confident.

Yes, Busby. Thanks. It looks like we are still planning to build a PGM recovery circuit at Dilakong. Not sure of the lifetime of that project. Could they be eyeing up any other sources of material in the area? Also, he did not answer the question about when the fine chrome circuit is coming on-line at Inyoni, but I presume it's soon.
Good to know that we have started work on the zinc circuit again. I'd love to see that operating before they recycle me.

The comments about the size of our operations compared to other miners (chrome, top 4, PGMs, top 6, copper, top 10) are frankly mind-boggling. Exciting times - the recent hike in Sp looks highly sustainable. I paid 17p for my first share in this company. I am beginning to believe that Sp is not out of reach.

Jammer. Thanks for sharing all of that with us. An extremely helpful and encouraging post.

Interesting that Leon mentioned the bouyant price of ruhenium in the interview. This is not one of the metals I keep an eye on.
I thought he sounded very up beat, especially about copper. Do his commets about our exceptional chrome recovery indicate that the fine chrome circuit is operational now?