Member Info for Kalan

Platinum has always been the better metal for catalytic converters but they used palladium because it was cheaper.
palladium now down about 18% from the peak - if it falls below 2300 it will be technically in a bear market. Platinum strengthening a little in response to the 'news'.
I would definitely get out of SLP now. Well I would have done a couple of weeks back, but there has been a second and third chance to sell into strength there. Not posting on SLP board as it would not be appreciated.
JLP still generating a lot of pgm cash and zinc a bit stronger today - still out for the foreseeable though.

Reminded me of the first time I experienced a blast underground. Was crawling along the coal face (about 1.2m high but about 0.9m under the hydraulic chocks when we stopped by the deputy and told to sit tight as they were blasting in the tailgate. Next thing boom and couldn't see the person squatted next to me for thick dust. No ear defenders and no dust mask. Then we crawled out into the tailgate with a warning from the shotfirer to watch out as it was bitting (i.e. lumps of stone were likely to fall on our heads from the edge of the face where it met the tailgate. we took every precaution i.e. we ran like chimpanzees scampering on all fours further up the gate to get out of danger. Quite frightening at the time but funny how quickly you get used to a daily dice with death working in a coal mine.
The Regua adit looks quite small and so could advance at a decent rate - they need two of them minimum. This blast looks quite small in order to avoid damaging the portal, but they may be able to fire out a couple of meters at a time as they get further in.

Good points by Craig and TBT - looks to me as though JLP are a good defensive stock. If the payments are complete then they can suspend Kabwe if metal prices make it unprofitable and just rake in the cash from profitable pgm's and a small loss on the chrome. They can survive and hoard some cash.
Not as defensive as holding cash but a god defensive stock non the less.

Found it - three points:
The step down of the director has been well managed. Whether he keeps his shares we will never know.
The production from January and February must have been carp to have eaten up all the money. A material step up looks promising though although we don't know from what level to what level and we don't know what the schedule says about production but good that we are now meeting it, whatever it is. The new investors have been convinced anyway.
The blasting at Regua was to clear away the surface rock so that a portal (tunnel entrance) can now be constructed and then a 122m tunnel can be mined (looks like they are planning on 15m to 20m advance per week which is ambitious with blasting). So it is at the very, very early stages of start of development.
GLA - enjoy the bounce.

Just got up and tried to read the two rns but one seems to have disappeared but read all your excellent posts and I get the gist.
*Once again MM has worked his magic and got people to invest above the ask price (he did it at .5p not too long ago). Well done him - where does he find these naïve people? Or does he?
*The blasting at Regua is a fop to the money raise. The blasting is not to mine mineral but to start off the addits - the last cash raise was supposed to be for this. He is trying to hide the cash raise away with a feel good factor. The start up is old news and is the start of a cost not an income.
*An experienced director leaving at this point cannot be construed as good news. Neutral news at best.
*I am working blind on this one but no-one is mentioning actual tonnages or sales. I take it this news was not forthcoming. So we are not at break even yet and we have spent all the cash raised before to fund the gap - not good news.
*The potential is still great (thanks for the calculations) but delivery is not happening or he would be shouting about it. They have 3 weeks to turn a profit for the month of March or they will need more cash. The situation hasn't changed in that they need x amount of tonnage at y selling price but the evidence is that they are not achieving that yet and we are closer to the reporting deadline than we were before.
For clarity I own no shares in WRES at this time - can anyone who has read the rns that has gone awol tell me what it said about La Parilla production - I will try to find it elsewhere in the meantime - my guess is it says 'La Parilla ramp up continues' possibly with 'apace' added in there.

Was expecting a pull back up to nearly 9p this morning and hoped to buy at 6.5p and sell at 8.5p. even predicting the move hasn't helped - it proved impossible to trade unless I had taken an overnight risk. I may as well just walk away and leave it as the market makers are too clever for me.

FTSE 4500 (40% fall in line with the last 2 bear markets of the last 20 years).
Lloyds sub 17p - how far below I couldn't say but I might buy some at 12p.
GLA

Firstly - thanks Olderandwiser for judging my symptoms and character - wish I was as wise as you. For your peace of mind - my son in law had a headache and bit of a temperature for a day. mt grand daughter had a high temperature for a day. I had a high temperature for 12 hours and a bit of wheezing. None of us had the symptoms outlined for getting tested. My point was that we do not know what caused these mild reactions whether ot be a virus of bacteria - we don't know - many people have these symptoms all of the time and some of them will have been mild Covid-19 but will not be counted in the denominator as not everyone is tested.
Secondly - you are right mcb77 this share price performance is awful - how can it be justified on what we know? Share buy backs would help as it would indicate to the market that cash is available to do so. SLP did a share buy back today and hardly fell as a result - it was down markedly but recovered nearly all losses on the share buy back.
It looks extraordinarily cheap at this price but I am sitting on my hands. Too early unless there is news from the company (p.s. Blackrock spokeswoman indicating that sub $20 oil is in the offing in Bloomberg interview).

They are just starting to drive the adits (2 or 3?) so production will be a while - the CEO described the production as helping to de-risk the La Parilla mine - in other words if La Parilla comes up short on production numbers then the much smaller Regua numbers may help tip the balance. 120T monthly at current Tungsten prices will be enough IMO - any fall in Tungsten prices obviously means we need larger amounts of Tungsten recovered. Watching and waiting for another 2 or 3 weeks to see what happens.

20 years ago at the turn of the century the FTSE was at 6900 i.e. higher than now. It dropped to 3600 on the dotcom bubble bursting.
It rose to 6500 before falling again to 3500 on the credit driven bad debt crisis.
It rose to 7700 and fell to ……. on the coronavirus lockdown.
It appears we can't have a sustained addition of value in stock markets until the artificial intelligence revolution takes place. Buying at the bottom of the last two bear markets has been a good move though.

Hi Michu - just going off the last 2 bear markets which were both over 40%.
Agreed on the mortality rate there will be large variance. South Korea has a fairly young population and quite good testing and have a mortality rate of 0.48%. Well below the 3.4% average quoted so far. 3 of us in my close family have had a virus with temperature and a bit of wheeziness but haven't been tested because it was next to nothing - have we had it? Maybe but we won't be in the denominator for the % calculation.
If we follow Italy's example we know that the economic effect is going to be drastic. Trump may just put the economy first which would be a big help to the world economy - his main priority is a robust stock market come the time of the election so it may not be as bad as 40% as you say.

Good point wasarunner - just saying in the current market |I think a potential buyer would wait.

Funny that - when I valued the company on a five year average and not the current price I was shouted down as a de-ramper - amazing how it changes.

Agreed Etocwen - can't see any update until the crisis is over - palladium is down 15% so far from the peak and is in a decline now - so can't see anyone potentially wanting to takeover being willing to show their hands until they know where the bottom is. The only way I can see it opening for business again is if they need to raise cash - production should be starting in the alluvium soon but it's mainly platinum (about 85% to 90% platinum by value I would estimate at the moment) and we don't know if it's enough to keep the company afloat and how long it will be before any revenue comes in. They can't play the warrant game again to get in money. I suppose a loan may be in the offing from a potential buyer but with a share option attached - no much better the quieter it is - long reign silence. It could be months.

Markets might quieten down a bit for a while. I sold every share I had when the 7000 level was breached on the FTSE. I expected 6000 but it has taken quite a while to get there - far longer than I thought. A 40% bear market (we have already had two in this century) would take us to 4500 on the FTSE - I would buy just about anything then.
As for WRES - well now we have hit 6000 on the FTSE we may see some ambitious folk buying what they see as the bottom and this gives investors here thinking time - but not much. It's all about the Tungsten price and the production numbers (it always was) - we won't get production numbers until some time in April - that's a long time in these markets - if you have decided to hold as nothing has changed - then there is nothing to do. If you sold up then it's a bit trickier to choose if and when to buy back in. It's not now IMO but when it is I am not sure as yet. GLA.

Nice chart master RSI - had a look myself and it is easy to put the bottom tramline more parallel to the top and that means the sp fell below the trend line quite a while ago. At this moment it is just below where you have drawn the trend line but we aren't at the close yet.
All metals that JLP are producing or are going to produce are falling. That's the bottom line IMO.
Still a good defensive stock for those determined to hold - palladium looks like it's going to be one of the last bubbles to burst and the longer it stays up there (down about 15% so not yet in a bear market unlike the oil and mining sector as a whole which is now in a bear market) the better chance that JLP can meet payments and complete the Sable makeover - at that point JLP should be in a good position to weather the storm and survive and make profits as the metal prices start to rise in the second half of the year (possibly).

Brave TREK.
Oil and mining sectors down 285 since peak i.e. now in a bear market.
look at Italy - 25% in lockdown. Milan empty. No-one travelling from North to South. Stock market down another 10%.
Still people say this is just temporary - this is THE correction that this tired out bull market needed based on fundamentals.
The world is going into recession - nearly all financial commentators are in denial - waiting for the worst to pass but with fear in their eyes.
It is fairly simple - hospitals and morgues can't cope with the massive increase in business - so the Government has to slow the spread of the disease - it won't affect the final totals but they are spreading out the duration so that they can cope with the rate of infection. This is going to crush demand for EVERYTHING. It will lower the price of everything.
there will be one or two niche investments that will hold value in the headwinds of a global recession - everyone is hoping it is what they hold - only a very few will be right.
Not even in gold myself - unless silver gets above $19 then there will be no bull run of any size in gold IMO.
Car sales in China down 8% - spread that to the world market and that's a big cut off for metal demand - so even palladium and rhodium will see headwinds - cash for me all the way - not bargain time yet IMO - only when everyone is a seller and no-one sees a bargain anywhere will it be time to buy.

regie72. I use Hargreaves Lansdown - they may not be the rock bottom for cost but they are reasonable and excellent for pensions. You can open straight share investing, ISA and pension and manage them all yourself on line.
been on this morning (couldn't log in when the big falls were happening - they all seem to be tardy at letting you sell when the proverbial has hit the fan) and transferred all the cash from my share account into my ISA account ready for when I go back into the market - it was simple to do and took less than a minute - worth a look.

Still bewildered that SAVP has fallen more than probably any other oily in the past 6 months or so despite it being better protected from the oil fall than most. FTSE hit first target of 6000 as expected (took longer than I thought) - will it go all the way to 4500 for a 40% fall as with the other large pull backs this century?

I'm with you Safetyman - can't watch 'Call the Midwife' without seeing jenny Agutter naked in that Aus film - the un's habit only makes it worse.
As for WRES - IF the Tungsten price doesn't fall then I may buy some back at the end of March on the gamble that they are hitting production that will show a profit. GLA.