Member Info for JTS13

Morning @Jaf. I get the precaution in terms of holding off for further information. But given past comm flow, waiting for full production & costings likely won't happen till we get the H2 report at beginning of next year, at which point I'd of thought the rise would be almost over and profit taking kicks in.

From an investment perspective, would it not make sense to dip in with a risk-to-reward pot (e.g. 5-10%), and then incrementally top-up the investment at higher SP levels as the project becomes progressively derisked. For example, choosing key milestone RNS's such as (i) plant commissioning, (ii) 50% capacity achieved for 30 days, (iii) confirmation of movement into positive cashflows, (iv) full capacity achieved, (v) detailed publication of revenues and costs.

TBH, I don't think we'll get a specific number on costs for LP. RNSs here have been getting more vague, and interims/FY reports will have project costs for all the other projects integrated into the calculation. Don't think it will make for transparent reading at any time

What're your thoughts, n how does this sort of thing impact ur investment decision?

Suspected as much. No worries @GIT

@Trumpton, please do ask ask him

Suggest you read my comments again @GIT as your reply currently suggests RNS'ing important information is against stock market rules, and that it is pathetic to believe otherwise!...

To suggest that shareholders are not even allowed to raise to a company's chairman that they would like an RNS providing more information is ludicrous...

I don't believe you would hold such an opinion, think you 100% mean the opposite. So perhaps misunderstood the previous comments? Anyways, no worries, misunderstanding happens....

But to reiterate my point. I do think someone should clearly raise the point at AGM that shareholders would like further clarification where the 5 mill has gone.

GIT, Re: your statement on use of funds (ref: 09:33am). If an RNS is required to say, for example, the Miton and warrant proceeds were used for Regua, whereas the loan is for Gold. Then MM should be clearly informed that shareholders want to know.
Say that info is market sensitive is a pathetic excuse, and if it weren't for LP being so near to production I'd sell out on the spot if given such a reply

I'm not going to be in country for the AGM, so unable to go... however, for one of the guys who is going, it would really be appreciated if someone could explicitly ask about where the money for the Miton, warrants and loan is being used. Given that we're supposed to be "on budget" even now, a company with an MC as small as ours should not so easily take 5 million + EUR just disappearing without explanation...esp given the back of us losing several million out on very obvious currency exchanges

On a side-track... it's beginning to appear that if we literally only had LP and no other resource, our SP would probably be 50-100% higher than it is now. We'd certainly have 10mill EUR more in the bank (almost 30% of our MC!)

About the 400k oz JORC... wasn't it already last year that MM told us it was 400k (& we were semi-disappointed cause he was originally communicating half mill to a full mill)?

Given how crazy long this has been, ya think it could be possible that he got another set of drills going on, found a few more of them dozen storey intersections, and has been waiting all this time to slap down a JORC with 'over' a million ounces? Kinda like doing several JORC upgrades all-at-once, but never telling us...

Somewhat random. But here's dreaming something good could come out of an 18 month delay for a routine operation (or however long this has been)

Just taking a wee read of the annual report and noting on p.14 that share options issued in Dec 16 ranged from .7p through to 1p. Whereas options issued almost 2 years later at Nov 18 may be exercised at .55p.

Understand that we should reward the new guys, but the fact that their share options are near half of what the other ones were issued at tells me that MM had significantly higher expectations for our SP performance...

Hi Capra, are you confident that having broken 7150 will be enough to mark the downtrend? How important do you consider the closing price / weekend news?

To be fair, flat performance is pretty good given the past couple of days turmoil. Broader market has dropped this week, whereas we've managed to gain and hold a rise of around 20%. Not too bad considering :)

Morning Vijay, if you're relatively new to shares, cautiousness over optimism is advised. A few principles I'd recommend:

a) SPREAD RISK: Dont invest only in 1 share. Too much risk if something goes wrong

b) AVOID SPIKES: Dont invest all at once. Share prices go up and down (like PDLs this past month). If you're not familiar with how share prices flow, spread out your buys over a short period. The reason is that (i) if share price is going up, you buy into a rise and are in profit, (ii) if share prices are going down, you reduce the loss that you would of incurred and have time to rethink your decision.

c) BE YOUR OWN PERSON: Easy to improve buying. Learning when to sell is the challenge! Defo read boards and get other peoples' opinions. However, don't become greedy. Generally, boards are like a football fan-base. You don't go to the game if you're not a supporter (usually). So the average person on a board may be optimistic and you may not get a truly balanced opinion...don't wait to sell until share price hits the optimistic numbers being thrown around on a board... Expanding on above, notice that people have different strategies. e.g. Some people may be buying for a 3 year hold, so are happy to wait during periods of volatility. Others want a short return in a few weeks or months. So how they comment will differ
Anyway, my point is that if you always wait to achieve the share prices given on a board, you will never sell and then you will miss your opportunity.

d) DON'T OVER-INVEST: Decide in advance about how long you are going to invest in the share. Make sure you are in a financially sound position where you don't need to sell to cover any other personal living costs... Make this a mistake and shares become a horribly emotional rollercoaster

e) LEARN WHEN ENOUGH IS ENOUGH: e.g. its good practice to "top slice" (i.e. sell a few) once you have achieved a certain level of profit... Its difficult to sell when things are going good, but profit is not a profit until it is sold. Good rises don't last forever. 5%,10%,50%, whatever. It’s your call, not anyone elses.

To give e.g., I'll be happy with 26.5p next month. We clear 26.5 we'll probs gap up to 29.3p. TBH, don't like rising too quickly, as it becomes too volatile and invites in the shorters, so happy with either of these... 2019 H1 also sees PDL needing to make several interest payments, so not sure how well we'll be paying down debt these months. We'll learn more about this during the July trading update – a key milestone! I envisage a more stable rise through to 35-45p during end of H2.
I try to be conservative in my targets so as to minimise disappointment if things don't work out. Equally, if global economy picks up, diamond prices fully stablise, we find another few nice sized diamonds, and yeh, it could return back to 50p+…but safer to invest in the known than the uncertainties

G’luck with your investments.

PS: In different time zone, not a weirdo on here at

Noted, thanks Kev.

Re: Gold spin off, MM stated in an interview (although I forget specifically which one) that part of the financing agreement with Blackrock was contingent upon using the gold resource as a guarantee (I also forget the specific financial word...brains not fully with it this morning)

But this suggests to me that LP would need to be fully de-risked (i.e. say, in production with first half year results out) prior to the spin off being a feasible option again. At least publicly. I suppose nothing is preventing MM from planning in advance...apart from our questionable cashflow situation pre-production

Now that you mention it Kev, I do remember recommending a US friend to check out WRES and he said the same. He was using Interactive Brokers... perhaps related to our MCAP? Unsure how it works, maybe when stocks clear a certain size they get access to more online brokers

I was thinking more about small institutions though. Even a few 100g stirling purchases would be nice

TBH @Lives & @ffc, struggling to understand why arguing that being satisfied with a small %age of a request to an OO would be a good investment strategy. LTH should not be investing in single amounts, but spreading investments incrementally. Growing a position through combining an Open Offer opportunity with picking up shares at an inevitable bottom of a downtrend is not trading, it is a fundamentally sound investing strategy... So for many of the PIs caught out here, yeh, I feel for them. It doesn't feel fair when it happens. That's why it's important to learn and re-risk from chance of being caught out again. Wtf is "mischief making" about that?

What distinguishes trading from investing is not about critiquing when a person buys, but about when they sell (i.e. timeframe that the position is held).

For transparency, I typically aim to de-risk following a rise of around 25-50% to entrance point. I don't like holding too much of any individual stock as it creates vulnerabilities in the portfolio...but again, this is generally sound and accepted "investment" advice.

Suggest putting comments into context prior to insinuating

Put it also in light of MM stating in latest Proactive interview that our anonymous US customer was onsite mid-May, this does indeed have potential to be positive for us.

With regards to apt of new brokers, I am personally favourable - provided that they have fixed focus on attracting IIs and that IIs either buy on market or at a placing premium to market.

Tbh, would of thoughts our american friends would of been suggesting some of their buddies to get in line for a few shares.

For all we know, there are 20 IIs sitting on the sidelines waiting for this to come through and then all come crashing in on the party. Nice price hike towards end of year and bam, 2p!

Doubt it...but highly unlikely is not impossible :S

Indeed @Bigsmoke. Somewhat coincidental in timing, but there we go. Ask now at 21.2, so you've got your 21p.

FYI: You can generally tell when a new range is entered because there is a sudden break higher in SP. In this case, went from 20.4-21.2 in less than 5 mins

Equally, it's good to bear in mind that not all bursts are due to this. Could also be due to shorts closing (usually on a reverse down-trend), or perhaps cause a spike prior to reversing an up-trend, like we had on the Monday when we cleared 26.3p a couple of weeks back.

Anyway, another good day ahead it seems

Open Offers aren't always a good thing. Got stung pretty badly a couple of years back when put in for a chunk, got 10% of what I'd asked for, then share price had risen over 50% on open market before my funds got returned....swore never again.
SP usually drops towards the OO price (shorter action, traders trading to take benefit of foreseeable, etc). It's worth taking a few when you can, but don't put all your eggs in one basket. Usually a high chance you'd be able to pick up the shares at no more than 5% premium to the OO price via open market anyway....and get however many you want.

This is what I've learnt and do... might not work for everybody / every situation, but worth bearing in mind for future reference

We'll be going through the same hurdles on this rise as we did previously.... from memory, 20.5p was previous ceiling and we needed a close above 19.9p.
We've had the high close, now we need to break the ceiling

Posted a few weeks back on various ranges. Can't remember them all, but we'll take them out in turn

Looks like the shorters aren't satisfied... notice all those crappy wee few hundred quid trades going through in quick succession

Let's see if we hold or slide

Morning Colonel. I'm not so sure on the shorters average. Note that GSA started accumulating their short position since Sep 17, when PDL was trading over 70p, and arguably reduced their short below 1% from 50p onwards. This still gives them a v good average where they can afford to take a bit more risk.

Millenium on the other hand are much more recent. Still is it not typically around 48hrs to notify positions? If Mill' notify on 15th, they could still have shorted from 26p on the 13th, no?

Enjoy reading your informed posts!

PS: Notice that we seem to have topped out for the day at the former ceiling level. If we can cool down and close above 19.9 that'd be good enough and then we can break the ceiling to mark the new rise tomorrow...here's hoping at least.

Wasn't paying attention when we dropped down to 18.2 last Friday. Was especially harsh, and a degree of rebound was expected this morning. Equally, I wouldn't be entirely surprised if we do touch down a little lower, just to hit the absolute bottom of the range.
Regardless, positive buying pressure this morning and I participated by picking up another 50k.
Whatever happens, bottom has to be close. The shorters don't have much wind left before they need to start buying back, and we "could" see a sharp reversal when this does happen.