Member Info for Jonfon

The “limited life” of the copper mine is 10 years. That gives them a lot of time to either acquire another asset, or have one of their exploration investments come to fruition.

An accidental benefit also occurred this year, where the lower Sasa production coincided with a slump in zinc prices. That leaves more reserves available for sunnier days. I value this at £2.50 a share minimum.

Here's an experiment: Select 5 most popular routes. Look at the current prices on Easyjet and compare to RyanAir. I just did Majorca and Alicante, EasyJet was more expensive for both. RyanAir still had tickets that look like they will just about cover the taxes. Both airlines probably sell their tickets off a similar baseline, then increase prices as more tickets are sold. We'd need a lot more evidence than this little experiment, but the small sample indicates EasyJet is getting more seats sold.

From personal experience, Ryan Air is just too Sh*t to fly with. I'll pay and extra £50 for EasyJet. Also, RyanAir has an all Boeing fleet. Do you want to fly on a plane made by manufacturers who have admitted gross negligence in their safety standards, operated by an airline who cut each and every cost they can? I think that in 3 years time, EasyJet will be the biggest low cost carrier in Europe, and RyanAir will be a struggling company encountering multiple restructures.

Take everyone’s points about the corruption on FTSE, but I actually think the price is subdued for another reason: the looming pilots strike and the high number of cancellations and delays due to weather, EU air traffic control and Friday’s IT f-up. I still think EZJ is a strong buy - the big money is just waiting for a bit more certainty. Once that clears up, this will go through the roof.

Earlier in the year the banks reported people were still spending strongly on travel, even though they were cutting back in other areas. As seen today, that statement was accurate. They just not spending on Ryanair.

So Easyjet is in a leading position, in a growing market. In my opinion, Ryan went too far in their cost cutting efforts , making flying with them just too unbearable. I travel 5 or 6 times a year and avoid Ryan Air like the plague. I found EasyJet are only tens of pounds more expensive, a price I’m willing to pay not to feel like I’m flying on one if those third overcrowded third world busses they make documentaries about.

On the other end, British Airways have become unbearable too. There you’ll pay hundreds of pounds more for worse service than Easyjet

Easyjet run an entirely Airbus fleet. Boeing , used by

Ryan Air, had the 737 Max crisis, followed by some more recent issues with its aircraft. While Boeing shouldered the bulk of the losses, its customers do take a smaller hit in lost revenue and potentially added inspections/ training/ safety measures.

There’s also the small number of people who don’t want to fly in Boeings.

The hedge funds might have brought the price down, but the bank situation offer from Gilinksi was very public, and if any banks/ Private equity companies valued it at more than his offer, they would have made a bid. We need to look at what happened before the bid was made though. Why did Frumkin give the impression all was rosy right up to the bitter end? Were he and Gilinski's daughter in cahoots? I think that one is for the FCA.

As long as there is no material writedown, the NAV is now 8 times the market value. At this price surely it is better to sell the whole business, even if only a fraction of NAV is achieved.

Not sure about your TastyTrade comment.

It was a disaster but it has, albeit accidently, become a huge asset in the wake of rising interest rates. There is now significant income through interest earned on US client money. Were we only the old outfit, we'd be seeing revenues decline.

I'll go for .009. Considering they need to raise £700k for the CLN's that don't look like they've rolled over.

No news on the CLN's. I think if they'd rolled over we would have been told about it. If the holders are demanding to be paid, we about to see the dilution of the century.

Every RRR "success" over the past 8 years has gone like this:

1. A breakthrough in a long running, high risk project is achieved. The money is imminent.

2. We encounter a "small" delay. Shares are issued to see the company through till this is rectified. It is not announced, but this money is mostly used to pay AB his six figure salary.

3. The shareholders wait patiently while AB jet sets around the world to resolve the issue.

4. Shareholders lose interest, the share price tumbles and suddenly, when it looks like all is lost, there's a new breakthrough.

Go to the companies website and read about the gold in Kenya, Australia and Columbia, Ferrosilicon in Bosnia and copper in Congo. Are we going to add Zimbabwe lithium to this list?

With commodities low and interest rates high, we can pick up bargains. No need for equity or finance. $60m is not a lot when it comes to buying a mine in ordinary times, but these are not ordinary times. Investing in suspended mine or early phase project with our existing cash pile would be very lucrative long term.

If you looking to turn a quick buck, this company is not for you. If you want a stable, long term dividend payer, it is perfect.

I am still positive about this company, but am worried about the big push they had on issuing unsecured loans after the acquisition of Ratesetter. Unsecured loans are super high risk right now. Hopefully any write downs are manageable.

Do you have a link to this?

Just being in profitability is good enough for me. The NAV is over £4 a share.

Correct me if I'm wrong, but this is the first we've heard that they will actually start producing from Serenity. It's not the gusher we had hoped for before the exploration, but it's better than writing the field off. Surely that's worth a few pence on the share price.

The PREM facility has been built over years. The crisis only escalated at the end of last year. See the link below. I was in South Africa, where my companies suppliers are based, from December 2022 - Jan 2023 and the situation was dire.

If, as Wolf says, there are private generators, it should be OK, provided the fuel can get to them. In Zimbabwe that's never guaranteed.

https://www.newzimbabwe.com/christmas-blackout-beckons-eskom-has-to-cut-off-zimbabwe-or-sas-grid-will-collapse-says-spokesperson/

Zimbabwe imports power from South Africa. South Africa's domestic energy situation has deteriorated so badly they've all but cut off electricity exports to Zimbabwe. Unless the power is coming from a private plant, we may be waiting a while.

JP Morgan don't invest to loose money. They will have been buying up in the 20-22 range. On that basis alone, these are at least 20% under valued.

Agree that June Felix should admit she made a mistake. That might expediate her exit, so she's not going to do it. I think the big money is holding off buying here because they think she'll make another big mistake. A CEO of a company like this one should know the rules around the risk of a billion dollar acquisition. If it succeeds enjoy the fruits. If it fails, accept the blame and step aside.