Member Info for Jonah58

Interesting post, K_B, but would it be economical. No one is talking about transporting our PGM rich material from Dilokong to Hernic for processing and it's a much shorter distance. Having said that, Sable originall processed copper from DRC.

Hi MCCO. I think the answer lies in the spread. For some reason (can anybody explain) POL shares are quoted on LSE with the "mid" price often equating to the Bid or Ask, giving the impression of huge swings in Sp when, in fact, absolutely bu**er all is happening. I've just done a dummy buy for £500 worth and was quoted 3.99p. So the Ask of 4.48 in the banner above is a joke. Some of those sells over the last few days will have been buys.

In all other respects, I heartily agree with your post.

I agree, Moneyhawk. The copper is very interesting. Sable was originally a zinc refinery, which Glencore converted to process copper from DRCongo. I don't suppose that source of ore is still on the table. I presume they plan to sell the sulphuric acid.

Overall a great RNS but, as usual, lacking in detail. I'd love to know what sort of price we are getting for the chrome concentrate we produce at DCM. And how much palladium we expect to find in the PlatCro tailings!

Hi Nolupus. Just dropped by after a period away and noticed your post. I actually agree with much of what you say and it is always helpful to have a contrarian view, but I think this post is misleading.

1. The initial phase 3 trial was not underpowered. It was powered to detect a significant difference in the end points. The problem being that Lupus pursues a variable course, the end-points were hyper-rigorous ( a fact the regulatory bodies are coming to recognise) and the increased effectiveness of managed optimal care favours the placebo group.

2. The identification of a subgroup who are sero-positive and are more likely to respond means that a second trial, targeting these individuals, would probably need less, and certainly not more, participants. Unfortunately it would not be possible to tap into the original recruits as they are likely to be excluded from a second trial.

3. The designers of a second trial will need to think very carefully about end-points. I would like to see reduction in steroid dose as a primary end-point.

Thanks for this TbT. Actually, it seems pretty accurate to me. Their 28% uplift seems modest, but perhaps fair considering the imponderables. Should get something from Eland soon, I reckon.

Looking forward to your figures, TbT. Another point, which should not be overlooked, is that by removing fine chrome the PGM content of the residue is correspondingly increased. It's a win win situation.

What a fascinating interview. Thanks for posting it Troajan. Highly recommended viewing.

Just read the post from Dmitribollakov you are referring to. Struck me as mischievous, ill-informed, and with a redolence of sour grapes. I share concerns that the lifetime of JLP projects may be just long enough to repay debt and maintain salaries (with little left for the shareholders), but the recent acquisitions should have much longer projected lifetimes, and I believe LC is totally committed to the success of this company. Also, despite your generous caveats, I find your reference to this post here to be mildly disingenuous, but perhaps that is being unfair and you genuinely want to warn us all of the risks we are taking.

In addition to Northam, the companies mentioned in their presentation last Novemeber were Anglo-American, Vedanta and ERG. There was a good discussion here at that time, particularly with regard to ERG, so worth scrolling back.

Good point TbT. The RNS also seems to answer a point raised previously. The agreement is with Jubilee Metals, not our 'joint Kabwe venture' company. However Galileo pay for the processing, the money will accrue in its entirety the Jubilee.

no. It was a mistake. He/she bought at midprice immediately after.

I got an e-mail this morning from Phronimos asking me to confirm details of my shareholding as they are proposing a shareholder meeting to discuss their proposals, given Polo's unhelpful responses. I'd be happy to share details here if anyone is interested.

Hi MB. Nice to see you posting. I suppose it all depends on whether TMS actually has $4 M! I suspect it will just go bust and that will be the end of it.

Yes, Asaika. Compared to this time last year Pt is now down a mere 1.5%, with Palladium still up 45% and Rhodium up about 60%. Our basket price is much healthier year on year. Yes, Hernic will be affected by the outages, but so will every other miner in SA with whom we compete very succesfully on unit production costs.

Yes. I think that's where Celamin's new Tunisian chum cuts in.

You're probably right p14. I just threw it in as a left field suggestion. There is, however, a problem in monetising the pgms at DCM. The economics of building a PGM plant from scratch there must be marginal without a guarantee of more material. I estimate the cost of transport (fuel plus drivers wages) would increase our unit cost by about $120 per ounce, maybe less bearing in mind that there is more Pt in the DCM stuff. That is a lot, but at least we would be making some profit from it at current prices. The value of the PGMs at DCM is vast now, but monetising it is another story.

And, as a highly speculative addendum to my last post, at what point does it become economically viable to transport DCM material to Eland? We are already loading, driving and unloading trucks from PlatCro - a short distance I accept - but the PlatCro material currently contains fine chrome (so less PGMs than the DCM concentrate) and the transport costs are acceptable.

You are right 34 to pick up on this. I was concerned that the fine chrome recovery plant was an effort just to keep DCM going whilst, at the same time, window dressing our technical abilities to the industry as a whole. The fact that we are hitting targetted comercial production is hugely impressive.

And another thing. The removal of the fine chrome leaves the residue even richer in PGMs. At one point, Jubilee was trying to sell off this concentrate as it stood, rather than investing in a PGM beneficiation plant for a limited resource (assuming third party ore processing does not fill that gap). Maybe we will reconsider sale of this super-concentrate to break the impasse over PGM production at Dilokong.

for the weekend.

Nice to think that we are definitely going to make a difference here.

https://www.theguardian.com/environment/2017/may/28/the-worlds-most-toxic-town-the-terrible-legacy-of-zambias-lead-mines

Thanks for doing the calculation, TbT. I think the price for lead concentrate depends on how much lead there is in it! If you bought a ton of it in India yesterday it would have cost you about $900, but even at this conservative figure your figures add up pretty well. I assume govt royalties are included in LC's 30% profit margin figure which is at the bottom end of the range he quoted.