Member Info for Jonah58

Good post as usual. I have been thinking that Kabwe start-up costs would be covered by the draw-down, so I'm a bit depressed to hear your view. Despite this I got back in today with my trading tranch (still long with 70% of my investmrnt here.)

I am with you on this one, Bbelly. It is very much in JLP's interest for BMR to relist and thrive. We are a major BMR shareholder with a seat on the board. If BMR cannot afford the capital payments for the JV, the agreement allows for JLP to increase its upfront investment (which would fall within the terms of the drawdown agreement, I reckon) and earn itself an increased share of Kabwe revenue. I also appreciate the undercurrent of comments that JLP's ulterior motive is further projects in Zambia involving recovery of Cu and Co.

I've been following this thread with interest. But there is one point, summed up by Yazz's comment '... JLP are pretty much insulated from BMR's awful situation...' which I don't think this is true. JLP have been falling over themselves backwards to try and stop BMR going under. After all, they own nearly 30% of it.

Well, not quite. After all, we own 30% of BMR. By the way, thanks Rosewall for your research efforts on Blue Square. Much appreciated.

Worth checking Rosewall's research on BMR board. Interesting reading.

Yes, TbT. I had just noticed this too. It looks as though JLP have waived the 'lockinh in' clause to enable this payment to be made. I suppose JLP will have to issue their own RNS as this is market sensitive. It will be interesting to see LC's take on it.

You make a fair point. I invested here because I had made some poor choices in commoditites and wanted a professional to do it for me. Following on from this, Mr T bought Celamin just before it lost control of the asset, Blackham just before a boardroom spat, Weatherley just before the water ingress crisis and sp tank never to recover, and the Indonesian coal fiasco. Compared to this performance, the other dogs in my portfolio are absolute crackers! I do accept that Hib was a good investment, GCM may go somewhere at the expense of crippling dilution and what used to be Ironstone remains of moderate interest.

Not sure that this is a takeover target with more than 60% of the shares in the hands of a single individual, and only 12% in free float, unless someone is negotiating a private deal.

Interesting that the increase in production was attributed to workovers, swabbing etc and not to waterflood. With added waterflood production, perhaps that elusive 1000 bpd is within reach.

Unless something is happening on another board, you can hardly call today's activity a pump. The sudden increase in volume came 'out of the blue'. I dipped a toe in here in february. The annuals suggested a bit of a turnaround, and there are clues that the interims will be even better. There is very limited liquidity here, with over 60% of the shares held by a single individual. It doesn't take much buying to shift the sp. I have a modest target exit price of 2.9p. That would be a nice 4 bagger.

Three points from RNS. 1. Delay in final decision to go ahead till June. Maybe we want to go for a bigger plant. Maybe clarify time lines with Zambian government. Any other ideas? 2. JLP have 40% interest in Kabwe operations. Together with their 30% interest in BMR this amounts to a 60% interest in the project. 3. We have been quite circumspect and negotiated suitable indemnity to any previous issues with the management at Kabwe. This appears in the BMR RNS. Good idea!

Out on BMR Board as usual. JV going ahead. Need to read the revised terms carefully.

Tripo, you make a good point, and one many people grumble about. When a trade goes through the computer works out the mid price between the bid and the ask at the time and designates it as a sale, if below, and a buy if above, The transaction will appear in black (undecided) if it matches the mid price. It is very easy for sales to be reported as buys and vice versa. It should be easy enough to inform us whether a transaction is actually a buy or a sell, but I guess it suits the market makers to have this fog of uncertainty. With regard to your own transaction, POLO resources shares also trade on the alternative platform NEX exchange. Perhaps that is where your purchase went through.

Don't usually get involved with banter, but I reckon Twiddler's posts yesterday were just about spot on!

All good points, ItsaD. Also, I note, we are enhancing our chrome recovery there, or at least refining the process, and this involves some construction. From the RNS: "Phase 1 of the fine chrome recovery circuit has been completed with the design and construction underway of an enlarged fine chrome recovery circuit to enhance the recovery of chrome prior to the recovery of the PGMs."

Eland is 8 km from Hernic. If Platchro is in Rustenburg, then the distance is 74 km.

The placebo response is interesting, and something I've seen before. Part of the reason may be how closely trial patients are supervised, in effect they all get better care. In particular, the co-ordinators would have ensured that everyone took their 'standard' medication correctly. If Lupuzor has a future, it lies in the science. Conversion of 7 patients to sero-negative is unlikely to be an accident.

Nice post. As far as I can tell from Google maps, Eland is about 8 km from Hernic.

I am also interested in this comment: 'Jubilee looking to expand its strategic relationship with Northam '. There has been talk in the past of Northam and Conroast. I suspect this is not going to happen, so what is LC referring to? Do Northam have dumps?

Agree MH, looks very interesting. There is a comment about delivering the material after removal of chrome. Are we going to have to build a chrome recovery circuit here?