Member Info for Jonah58

Wholeheartedly agree, Kalan. It's very difficult to see the whole picture so they try and oversimplify it for us. Take the marine wind turbine pylon, whose concrete footing is the home of millions of new mussels producing methane at a rate which more than negates the carbon sparing value of the turbine! Still, the race is on and hydrogen cars will feature strongly in my opinion. They will eventually find better catalysts for the cells than platinum, but not for a while. Meanwhile the batteries will need cobalt.

"A ban on selling new petrol, diesel or hybrid cars in the UK will be brought forward from 2040 to 2035 at the latest, under government plans....
...At a launch event in London the prime minister will say the ban could come even earlier than 2035 for new petrol and diesel cars, if possible.
...Hybrid vehicles are also now being included in the proposals, which were originally announced in July 2017.

People will only be able to buy electric or hydrogen cars and vans, once the ban comes into effect."

Still no news re AGM. Amazing. GCM RNS today, Polo lending them more money to stay afloat. Can elect to be repaid in GCM shares at small discount to current SP. GCM AGM postponed: no reason given. Any views?

This was the point about the source of our ore. The material from DRC is rich in cobalt. But do we know if we are buying in third party material or toll processing? I am assuming the 'historic tailings' are ours.

cobalt comes with the copper from whatever source.

Watching this discussion from the sidelines. It's news to me that JLP have stopped work on the zinc processing circuit at Sable - can you tell me where that came from Fellow? I know they were thinking of having a system by which they could switch metals fairly easily to make the best of prevailing commodity prices.

PS. How about 'they're about to lose their investments?' Picky I know.

I was typing exactly the same point, Kalan, when you beat me to it. The projects do not compile. In future deals, I will be looking closely into their longevity whilst adjusting my position in this company. Licensing our fine chrome intellectual property might be a way forward, but at current chrome prices it must be only marginally profitable, if at all. Extending it to fine copper however looks a lot more interesting. It may not be irrelevant that the current price of copper features in Jubilee's most recent tweet:-

"Palladium has climbed 20% so far in 2020 with Copper hitting a healthy $6300/t

The broad basket of metals we extract provides considerable resilience for earnings in the face of varying conditions "

You may be right, Kaiser. The interesting point is that with Rhodium blasting through £9000 and Palladium sky high, the miners have to produce more PGMs and platinum comes out almost as a by-product, yet, despite this, Pt has risen by 17% in the last six months. It may be too early to attribute value to Tjate, and the palladium bubble may burst as auto manufacturers look to switching back to platinum, but I can see some business (probably Chinese) taking a long term view on PGMs and looking to 'bank' a resource. Not all the majors are cutting back. Northam, for instance, has ambitions to expand and, as I have posted before, Quartzhill might start to look interesting again. Watch this space.

Good post, Oddbod. If the current boom in PGM prices is maintained (and it's a big IF) then we need to think about Tjate and assigning it some value.
However, when the price of Pt slumped, the majors have cut back on production and moth-balled some shafts. In the short term it would be easier for them to re-open them rather than get involved in a whole new, fabulously expensive, mine. That's not to say that Quartzhill might not start to look appealing again though.

One point about your maths. The percentages of metals you give add up to 100%. This means that the percentage of Osmium, Iridium and Ruthenium combined is zero. That is ok if you are referring specifically to 4E I suppose, but sometimes JLP is not entirely specific on this point! It comes into play when we talk about tailings, where ruthenium is sometimes quite plentiful.

The job losses are at smelting operations and offices so I guess Hernic, with its huge furnaces will be affected. I presume we will be at liberty to put our chrome concentrate on the market, but prices are pretty low. Good that all our eggs are in different baskets!

I read it too LUFC. Your points are well made.

Yes Sumo. The new pattern continues. Modest rise on fair volume. Probably driven by the increasing basket price of PGMs.

It's interesting that the Bloomberg article, referenced on this board a week or two ago, predicted a break out in the price of platinum consequent on a switch over from palladium to platinum in the auto industry. Obviously this will take time. No doubt this will lead eventually to a retrace for palladium and rhodium, but there is absolutley no sign of that yet.

Speedy, you're observation is true. A gradual rise on fair volume is meaningful. This pattern of trading is new to JLP and I suspect it reflects a shift of perception about our company.

I agree your cautious approach is timely, Mog, and we should not get carried away. There is also a significant lag between production and getting the current basket price so the current boom will not be reflected in the 6 month update. Nevertheless, your figure is not peanuts by any stretch of the imagination and we know we are getting more than 50% from Northam, so there will be a nice contribution from that quarter, whatever the precise split. I am anticipating a very decent increase in income and profit.

Just broached $1000 TopC. I know it's not that useful keeping on posting the PoP which anyone can look up, but it is a milestone of sorts! Must be reflected in the bottom line.

I suspect the truth will lie somewhere between the two. Let us say, for the purpose of argument, that the trial design is finalised in H2 2020. I suspect we will need to recruit a similar number to the first trial, but on a more selective basis. If this takes a year then we will have to wait another year for the last patient to be followed up (assuming a similar duration to the original trial). This makes 30 months to completion. Multiple guesses here, but sounds about right to me.

One of the striking features of trading in these shares has been a consistent increase in volume compared to, say, eight months ago. These small increases on fair volume are more significant than the wilder fluctuations of last year, though not so good for traders.

I agree with the gist of your post, TopC. Fixed costs plus increased basket price equals disproportionate increase in profits, (though not exponential!). The ADVFN bloke has missed out ruthenium (his figures add up to 100%). There is quite a bit of this in chrome tailings, and it doesn't sell for much, so that's another caveat to add to Moneyhawks helpful post. But yes, the bottom line should be looking very very good this year.

Does anyone have a hanndle on the price of chrome concentrate? It seems to be enormously variable, yet has suddenly become very important to us. I don't even know how concentrated our concentrate is!

Hi LUFC. This was the thrust of the interesting link posted by Troajan: wednesday; 22.30.

Not to mention Rhodium, currently up $250 an ounce. I would dearly like to know how many ounces of rhodium (concentrate) we produce a month.