Member Info for Jonah58

When Zak asked about dividends, LC was quick to talk about capitalising copper projects in Zambia, so I don't think we will be getting a dividend soon. But at least they are talking about it. Interesting that LC also spoke of a dividend OR some other way of rewarding shareholders, so maybe a buy back is also on the table.

I'm with you on this, MH. Disappointed that there is no time line for Zn and Pb. It's all copper. I'd like to know where the additional feed is coming from to get 400 tonnes. Also, do we know where this second copper deal is (the one which is projected to come online well before the Elephant. It's not the project Roan mentioned in the WHI report is it?)

The move of the fine chrome circuit seems more advanced than I had anticipated. I note the basket price of PGMs has started the week well.

Having said all that, it's a great set of results at a tricky time. Well done.

Just to add to Monethawk's comment, I think you are being excessively gloomy, Fellow. I agree that the Covid situation is threatening in SA, though JLP wethered the first wave well. There were about 700 new cases in Northwest province yesterday where the total death toll to date is just 36. I think local, rather than toal lockdowns are the likely response. Inyoni is still generatin cash flow and the basket price of PGMs has been remarkably resilient. Inyoni is a limited resource, and any slowdown in production will increase the length of the project!

The WHI note indicates a pojected time line for Kabwe which should go far to placate the mining authorities. I got no incling of impatience or antagonism from reading this note. Do you have another source of information to share on this board.

The proposed copper resource is low grade, I agree, but the quoted cost of extraction still makes the project viable financially, and the assumptions are conservative.

Finally, we will have to see how Zambia copes with the increasingly sever Covid situation in sub Saharan Africa. So far they have done remarkably well.

Your use of the word 'bleak' strikes me as being unjustified.

Good point, Bluebelly. I suspect concerns about the Covid situation in SA are responsible for the recent price drift rather than anything more fundamental.

There is a truly massive amount of information in the WHI note, and I am only just beginning to digest it. Hope to post some thoughts when I've done that. Interesting that they raise the prospect of trucking DCM PGM concentrate, presumably to Inyoni. Economics will depend on PGM basket price, but may be feasible.

Not sure your right about Luanshiya, fellow. BMR walked away, but they had (have) very low skills when it comes to processing. It seems unlikely that JLP would have bought the dam unless they had worked out the economics. It's the one thing we are good at. I believe the fine chrome process adapts to fine copper. We might be able to achieve a very high extraction ratio.

This is an important discussion. JLP have set their store on becoming the 'go to' company for clearing up legacy waste. If we are to realise Colin's oft-quoted midcap ambition we will need all the credibility we can get and failure on Kabwe is simply unthinkable. We are in a unique position to make a real human difference in a disastrous situation. Even if the economic payback is minimal, the less easily quantifiable benefits will be huge.

If anyone from our company sees this post, I urge you to include in the next appropriate RNS a statement of intent re Kabwe, a detailed plan and a conservative time frame to achieve it. I want to see progress in my lifetime and I'm no spring chicken.

CW. There is quite a bit of news that could come our way, but the thing I am most anticipating is the details of the proposed Phase 3 trial of Lupuzor, to be financed by Avion. We were told that this would be finalised in consultation with the FDA in H1 2020 which ends tomorrow! No doubt the pandemic will be blamed for any delay, though I have had no problem conducting complex discussions over the last few months.

I will be looking closely at the inclusion criteria, the primary and secondary endpoints, tho proposed number of centres and their location, the number of patients to be recruited and the estimated recruitment rate and the duration of the trial. The devil will be in the detail.

Of our other interests, I would think advancement of the Sol project might be the next thing we hear about.

OliveOily sorry. My computer seems to cut off the end of the URL.
Google evelo press release
NB My investment record is poor, so dyor. Disclaimer. My wife has a small amount invested here.

Will do, Ontarget. Also you may care to have a look at Evelo (I've tipped it twice before). Today's pres release is very exciting and the sp is still way down. http://ir.evelobio.com/news-releases/news-release-details/evelo-biosciences-announces-edp1815-advance-phase-23-tactic-e.

Apologies for off topic. This is the last time I will mention this share - pinky promise.

Good points, MH. I agree that all the talk is now about copper. Zinc prices are sure to be involved, but I am inclined to give LC the benefit of the doubt and accept that ovid induced border restrictions are also involved with our failure to progress Kabwe, convenient though that excuse might be. Processing Kabwe may not prove very profitable, at least initially, but there is Karma involved and our relationship with the Zambian mining authorities. I don't think these issues will be going over LC's head!

Just spotted this post about dexamethasone. The finding that it reduces mortality in the sickest group is great news but will not impact on attempts to find other therapies (though it will impact on the current trial as it will now be unethical to exclude dexamethasone from sick patients assigned to the other drugs, eg Interferon). However, a 30% reduction in mortality is no comfort to the other 70% and other therapies will target the earlier stages of the disease before it gets to the dexamethasone time. Lots of potential for research and development, but I agree that the timescale is a longish one.

Thanks for these interesting links Game. So, if this is the resource, it is JORC compliant with an average grade at about one half of the ore mined in Chile. No mining costs involved here and we have the expertise to separate, concentrate and refine the stuff.
I assume JLP (Sable) will 'buy' the concentrate from the JV, though the effective cost will only be 25% of the actual cost until all capex repaid *1.5, and at 40% thereafter. !))
100% of the income from the sale of cathode will accrue to JLP.

Looks a good deal. My only worry is time scale and my advancing years. Would love to see this company flourish before the grim reaper intervenes!

Thanks Jupiter. Quite a bit in this interview, including an estimate of up-front costs (higher than I thought), and some hints on time scales. He mentions at least 15 years life for the project which is great.

Two questions spring to mind. What is the grade of Cu in the dam. Has it been proven up/drilled? And where is it?! Could it be the resource mentioned in this article: https://zambianeye.com/government-preventing-us-from-commencing-operations-star-tanganyika/ ??? If so, the dam is 180km from Kabwe, 3 hours by toll road in good conditions. No doubt more will be forthcoming in due course.

not sure there's any lithium in Tjate...

Nice posts Photo. I'm another flagging survivor from those years. I've read posts from decent people on this board - many thanks to them. So here's a challenge to the current bod. Can you prove your worth and make something of this company? There are a lot of private individuals who have supported you. What have you got to offer?

I appreciate your thinking, TT. As an aside, did anyone on here think of buying some rhodium when it was $2000 recently? I was tempted but didn't buy. Got it wrong again (as usual). More seriously, the tripling of rhodium prices over the last few weeks is extremely encouraging.

MD.J You are right to highlight the huge spectrum of autoimmune diseases and the overlaps between them. Indeed, the thinking is moving away from pigeon holing these conditions towards trying to understand the unique situation for each patient (an approach which is revolutionising cancer therapy). The devil, however, is in the detail and an immuno-modulator which works in one condition may fail in a related one whose pathways differ slightly. So, as far as the regulators are concerned, we are stuck with double blind trials - anecdotes just don't cut the mustard. And, as Lupus points out, doing trials in all the conditions you have mentioned is not feasible for reasons of finance and time.
I too am disappointed not to see Avion flag waving on their site, and am keen to hear details of discussions with the FDA. The longer this information is in coming, the more anxious I will be. This second trial really is 'make or break'.

MD.J. There were several top quality academic units involved with the last P3 trial. I agree that subgroup analysis (sometimes unkindlyreferred to as data dredging) suggests that a further study of sero-positive patients might be revealing and I also agree that there is a good chance that this will turn out to be the case. I can't wait to see the entry criteria and pre-defined end points of the next study and see no reason why this information should not be coming soon.

The problem with these studies, imho, lies not in the academic credentials of the participating centres, but in the fluctuating nature of the disease and the difficulty of establishing meaningful end points. In this respect, I think the first study was over-ambitious and I am sure this crucial lesson has been learnt.

By way of illustration, any study will have to compare Lupuzor with standard care, which frequently involves treatment with steroids - a horrid therapy if given long term. If a patient in the Lupuzor wing completes the trial with no improvement in symptoms, but with a significant reduction in steroid dose this will constitute a huge benefit. I am sure these subleties will emerge in the design of the forthcoming study.

Perfect response, Positive. On a more serious note, I've been gradually shifting from commodities to pharmas, about which I know minimally more. You could look at Poxel (pretty safe bet IMHO) or, much more risky but potentially explosive, Evelo. Please note that my performance on AIM is dire, to put it mildly so this is definitely not advice. Please also excuse the off-topic. Poxel is French and Evelo is American, so neither have a board on LSE. I have a few sgares in both.