Member Info for JTS13

Agreed. With interims due in a week (where results will be gleaming considering that average copper price was up at $3+) and copper seeming to be bottoming, probability of a short term incline looks good. Would like to see the 243 ceiling being tested. 229 should hopefully be worth ignoring

Yes. RNS indicates that we have more money in bank than expected (i.e. under budget AND haven't touched out contingency budget). And that's with 81.3% of expenditure committed, probably of going over budget is extremely difficult now. i.e. we'd now need all expenses to be overpriced by about 70% before we have a problem!

Mining will start as soon as crusher and jig are operations (end of this year). That means that once the concentrator is operational it can start work immediately. i.e. certainly on target for production in Q1

- La Parilla fully funded till production (Q1), with commercial from Q2.
- Single project equates to (conservative) EBITDA of $15.2M, approx. half of our mcap
- Forecasts are safely achievable as 80% production is offtake agreed and forecasts based on material price significantly lower than current price levels
- Inferred JORC upgrade on Regua within 6 months (my interpretation following the 2k meter RC drilling in July)
- JORC upgrade on Tarouca expected within next 3 weeks
- JORC upgrade on San Martinho expected before year end
- Strengthening USD is hitting us hard. Has wiped off 1m of our debt (unless rates reverse) and hitting commodity prices hard. Reporting in weak GBP may help offset some of that though

Based on LP alone, strong reason to invest and expect multi-bagger within 12 month period. With Regua likely to come online within that timeframe and significant news developments elsewhere…there’s good reason to get excited

Afternoon GIT, agreed that the Gold JORC has potential to add value. Just personally questions how it will impact our MC... they don't seem to correlate well

Was much more motivated by the gold when there was talk of a near-term spin off. However, MM mentioned in an interview a few months back that Blackrock asked for the gold to be kept in the main company as part of their assurance. MM then indicated that spin-off is still on the cards, but that they can't really consider anything before 2020.

Given the hammering that gold has taken recently, the stupidly low PE's that producing gold equities are on, don't really expect much recognition to be given to a gold expo project.

Guess that our MC is so low to start off with, that even a 5 mill GBP recognition towards a 0.5 mill resource would still be a significant increase on where we're currently at...

However, markets are a bit bananas at the moment... Who knows when next crash happens and gold rerates. Would obviously rather have half mill of an appreciating asset than nothing

Haha, I do apologise.

Live in a 19th storey flat. Got a lake view... but no garden of which I can boast about. Jealous, because do enjoy a bit of gardening.
Think nuns are illegal where I live too.

Besides a bit of common sense now n again, kinda ruled out most of the other topics I'm afraid.

PS: Obv' not based in UK or would otherwise be joining y'll next week!

To be honest, not quite sure what news we can expect in short term.

Mine development is on track - as per communicated schedule. So only significant news on that front would be if we fall behind schedule or there's a problem on the mine. Regular image uploads and boring stuff is about the best "news" that we can get on that.

JORC on Tungsten and Gold will come in due course. Perhaps we get a spike, or it can help us gain awareness. But not why most of us are here and both these assets are at totally different stage in the mine development cycle

Only thing which I can really think of have substantial news in short term is our silent achiever - AKA: Regua. We'll be expecting our licence (thingy) to come through shortly, along with FID, and initial production. To be honest, I am looking forward to understanding (in detail) what's going on there. So the FID would be great to get a holds of.

Otherwise, what "news" can we expect that we don't already know?

@KEV:

"It reminds me of Mr Corbyn, being at the memorial service of a terrorist, holding a wreath, but, of course, not actually taking part in the service. Just being there, holding a wreath."

Made me laugh!

To be honest, I usually quite like reading JAFs comments because they do give an alternative perspective from the norm. However, I don't understand the request for news on gold. MM stated news in H2... we still have almost 4 months of H2 left (see RNS from 17th Apr). Preliminary findings were provided less that 2 months ago, and it typically takes a while for JORC to be officially updated. Hence why we still have 4 months left in our window. What's the problem?

Ironically, remember the time when MM announced a 10 story tower block of gold...SP dropped like a stone!! Perhaps he learned his lesson to focus news on the W?

Just an opinion, but recon that October will be the month where potential starts to be realised.

Interims should be published last week of September. Whilst we kinda already know what's in them, HUM (a) wrote a terrible Q2 update. RNS's should state financials and not give a maths exam. Our interims will do that nicely. (b) they should also contain a section updating what's happened since H2 is over. Whilst this won't be complete, it should paint a rosy picture and create some expectations towards the Q3 update.

Q3 update should be in around 3 weeks into October. As per above, hopefully HUM recognise that they're not a multi-billion dollar company with huge II's in them, but a small cap with loads of investors who are too lazy to calculate sell price multiply by sales volume = "screw it, lets invest somewhere else". Assuming they realise this, (a) state the revenues, (b) state the %age growth in production volumes since start of production, and (c) give a smashing comment about being close to debt free or able to do something with their money... and then there is a chance that people will finally start to realise potential here

Ironically, would almost be happy to pay to write the RNS for them. The return on SP would make the time investment worth while

1. Golden rule in biz is ‘never assume’. If businesses assumed that everybody thought they were awesome, marketing, branding, promotion, etc etc would seize to exist. However, these are fundamental parts of business. To be clear: WRES is doing this as a fundamental part of any biz start-up.
Folks going on this will obviously post about it. This positive word of mouth may generate a change of tone on this board as well as attract new investors.

2. II’s: Linked to promotion, but II’s regularly send scouts out on these visits. The observations shape investment decisions and/or investment reports which they pass on to their respective investor network

3. Some investors care about their investment. i.e. they either want peace of mind, and/or have lots of curiosities about how things are done.

Positive energy in a start-up is absolutely essential. Especially for a company like ours where MC is quite pitifully low for the value that is held. As investors looking for return, a higher share price is absolutely in our favour. Therefore, a productive strategy that literally puts the biz on display and attracts more shareholders is a no brainer.

PS: I’m just gutted to be away in Asia on biz all of Sep!

Got it, thanks Kev

Morning Kev, would you mind clarifying a sentence:

"The MM who was selling for Mr 3m has been on the ask for weeks, but moved off it last night."

How do you research into something like this?
I'd "guessed" that the selling might end with the end of the month, but it was very much a guess. I've genuinely no idea about how to know if a particular MM is on the ask, so would be good to learn from you

Who knows, but there is a chance that tomorrow could be last of the 3m sells.. could be wanting to clear before end of the month for internal reports.i.e start off new month w/clean slate. Can only hope!

That raise early April definitely killed off enthusiasm...but this is taking the malarkey! 0.42p hasn't always been the strongest floor, so may see this return to the former 0.38-0.42 trading range... disaster! Equally. Anyone selling now must have real "footballs" to take the risk on getting back in lower. Considering that we started mining our "silent achiever" at Regua this month and can expect a summary of our gold find within the next month, that's a real short window! Honestly, I don't expect a proper rise to happen until post-investor visit in September. i.e. October at the earliest in my expectations. However, any RNS on either of above should test our ceiling.... problem is that we've now dropped to a crappy 0.45 ceiling, which was always a pain to break through. Really want this back into mid 0.5's before the real rise begins in Q4

Core detail is in the last paragraph. We should expect the prospectus in 2 weeks. Upon issue of the prospectus and having also held an EGM, then we should be eligible for staying on AIM. Hoping that we do come back. First day will be interesting. Either a mass sell-off of people taking anything they can get, or a high SP rise due to the reverse takeover.

Core detail is in the last paragraph. We should expect the prospectus in 2 weeks. Upon issue of the prospectus and having also held an EGM, then we should be eligible for staying on AIM. Hoping that we do come back. First day will be interesting. Either a mass sell-off of people taking anything they can get, or a high SP rise due to the reverse takeover.

I'm with Hargreaves and just noticed that RHM is no longer listed. Anyone got any heads up on this? Thought this suspension was supposed to be temporary

No discussion on last 2 RNS's?? Q2 results and last weeks reorganisation?

Indeed. Revenue generation is key. The RNS states that there's an agreement under FiT rates for 21 years. The SEDA (http://seda.gov.my/) indicates that provision above 24kW can generate 0.7222RM per kW (about 12p). However, we're providing 1MW, so let's be simple and say that we receive 0.5RM per kW (approx 8.5p). 1MW = 1000kW/h = 24,000 kW/day, or 8,670,000 kW/year ('IF' running throughout the year). If we suppose the above, then one 1MW plant can generate up to £750,000 per annum. Not bad...especially when there's talk of having 50MWp. However, note 2 things further. 1) FiT prices have been in decline. Dropping around 10% since last year. This may be because there's increased competition from low oil prices or other other reasons, but it does raise a question about future prices. Hopefully improving though... 2) Maintenance and performance. How good are the panels used here? How many hours per day can they operate - certainly not 100%. How much maintenance is required? Revenue is generated by supply, so think that the ultimate question is not how big is our plant, but how much will it actually supply? PS: Anybody an expert / familiar in this area?

Loosely, I'm of the opinion that sustainable energy is a great market, and demand for energy in Malaysia (& other SE ASian markets) is growing fast. Organic growth and regular incomes sound good for a long time investor, so I'm generally positive. Equally, AIM isn't generous to long term strategies. So not sure how well this will be taken. I'm also not enthused by the lack of diversification by RHM. PUCF seems to be diversifying well. But we're stuck too much to PUCF for my liking. I was hoping that the cash from shares sales were going to be injected into other projects external to PUCF. A bit of a ramble, but that's my first impression

Well, PUCF RNS states: "Proposed diversification of the existing business of PUCF and its subsidiaries to include the provision of energy utility services (“Proposed Diversification”)". So they're obviously looking to provide an investment into some decent sized project, an investment ranging from £6-20M by the sounds of it into the energy sector. Suspension is never welcomed news, but we shouldn't be surprised. See the below extracts from our Annual Report just issued 1 month ago: During FYE 2014, the Company's wholly-owned subsidiary, MaxGreen Energy Sdn Bhd ("MESB") (formerly known as Ausscar Group Sdn. Bhd.) submitted an application for a Feed-in Tariff ("FiT") quota to Malaysia's Sustainable Energy Development Authority in January 2015. On 12 March 2015, MESB was granted FiT Approval Holder ("FiAH") status, to develop and operate a one Megawatt Power ("MWp") capacity solar photovoltaic ("PV") power plant, which will be stationed in Sungai Petani, Kedah, Malaysia. On 22 June 2015, MESB entered into a renewable energy power purchase agreement ("REPPA") with Tenaga Nasional Berhad ("TNB") for the supply and delivery of the renewable energy from solar PV for a FiT concession period of 21 years. Investments in Stable and Recurring Income Businesses Renewable Energy In order to diversify risk, the board of PUCF believes that businesses that generate stable and recurring income ought to be taken into account for investment purposes. In line with this, the board of PUCF has selected the renewable energy industry as a sector for potential investment, as this is seen as a sunrise industry with a considerable potential for growth. On 22 June 2015, MESB entered into the REPPA with TNB for the supply and delivery of the renewable energy from solar PV for a FiT concession period of 21 years. The solar PV plant of MESB is scheduled to come into operation by the fourth quarter of 2015. Pursuant to the REPPA, TNB has agreed to purchase the electricity generated by MESB for a period of 21 years. PUCF continues to explore the promising renewable energy industry, with the intention and goal of developing and expanding the solar PV plant with the capacity of up to fifty (50) MW in the future but also seeking to widen our scope to include other renewable energy sources. We understand that PUCF will consider acquisitions of businesses in this sector that deliver recurring income and enlarge its market share, alongside ongoing investment. On 16 March 2015, the group's subsidiary MaxGreen Energy Sdn Bhd been awarded as a Feed-in-Tariff ("FiT") Approval Holder by the Sustainable Energy Development Authority Malaysia ("SEDA") to develop and operate a solar photovoltaic ("PV") plant with 1 megawatt power ("MWp") capacity to produce electricity to be supplied to Tenaga Nasional Berhad ("TNB").