Member Info for Kalan

NORNICKEL SIGNED A SYNDICATED LOAN FACILITY AGREEMENT FOR UP TO USD 4,150 MILLION
Moscow - On 20th of February 2020 PJSC MMC Norilsk Nickel signed an agreement to amend the terms and conditions of the existing syndicated loan facility signed in December 2017 with a group of international banks in the amount of USD 2,500 million, increasing the funding limit to USD 4,150 million, while reducing the interest rate and significantly increasing the loan maturity.
Taking advantage of the prevailing favorable market conditions, the company achieved advantageous terms for its syndicated loan, which generated significant demand from a number of American, European and Asian banks.
The funds will be used by Nornickel during the availability period until the 4th quarter of 2020 to refinance the company's current debt, as well as to finance capital expenditure and for general corporate purposes.
Sergey Malyshev, a Senior Vice President and Chief Financial Officer of Nornickel commented: "The new syndicated facility will allow to continue further optimization of the company's debt portfolio by eliminating refinancing risk and lowering the average cost of funds. One of the advantages of this loan is a structure consisting of several tranches, which allows refinancing of the existing USD 2.5 billion of debt and provides a guaranteed source of competitive funding to repay Norilsk Nickel's debt, including the issue of Eurobonds due in October 2020 and the financing of the company's investment program.

Yes it's panic selling due to the virus - the sheep are running in one direction - I have learnt the hard way not to be the sensible stoical chap who stands in the way of the sheep.
In every stock sellers are emerging - in every stock owners need to think where are the buyers going to come from to mop up the sales and buy more to lift the price. What news do we have imminently which will see my share buck the trend.
JLP chart - strong support where we are 3.7p ish - after that 3p looks a certainty.
Fundamentals - loads of cash coming in and loads going out - JLP well funded compared to most - the balance of probabilities is that they will get through to Sable copper and zinc production without needing to raise more cash. How profitable is kabwe - massive but at what prices - copper falling, zinc holding up relatively well but still down and is palladium rising? platinum has fallen - is it a safe haven metal.
The world of investment is spinning and spiralling before our eyes - funding is going to be difficult (JLP probably don't need it so that's good), demand is falling for everything except medical supplies. Movement of people globally is on the verge of being restricted. Shops are going to be raided by shoppers all over the world and then find it difficult to restock.
JLP is one of the best defensive stocks out there but the stockmarkets look like a 20% to 25% fall at least. On balance - cash is king - bargains will be around in 3 or 4 months time - sold up all my shares - lost all the profits I made on the last JLP rise. Took a 25% hit on the shares I held - will sleep well tonight. JLP high on my list when the time comes to re-invest.
p.s. Grandkids are riding it out in one share which was already down. GLA - the virus is exaggerated but still scary when you are one of the vulnerable ones health wise.

Too long Franny.

Spot on Safetyman
"That our rugged miners at la parilla would like Findus crispy pancakes. I think they would. To be fair with the automated plant we don’t need to many of them. The fact is our mine is open cast and has state of the art plant. Every possible bit of infrastructure is in place, we have water supplies as well as the lake. We have off take contracts, we have cash to hand from the recent loan, we have support of the local community politicians, we have local investors from prominent business families with a strong vested interest, we hav rising tungsten prices. We have the output from Regua to start processing at la Parilla later in the year. Yes we have a goldmine at Sao martinho. Yep the least we could do is treat our workers with pancakes and such. Looking good imho."
The only question in town now is: Do we have enough Tungsten and tin to pay all the costs and meet debt repayments plus pay back capital with enough left over for fish chips and mushy peas for us?

It's so hard to tell - one minute it looks a no brainer and then the next you use your brain and see problems with CB's narrative. We just apply for a licence, scoop it up off the ground for nowt and transport to Sable and JLP send us loads of money.
Hold on a minute - we don't own the ground we are scooping up.
Someone will probably come along now with a simple answer to this and it becomes a no brainer again.
JLP need to be transparent, GLR need to be transparent and BMR needed to be transparent. It's like looking for a mouse in the desert through an opening the size of a pin hole.

Out buying masks - no stopping the virus now. (Self isolation is the Governments new message - between the lines they know containment is over - globalisation eh - looking at what Iran is doing there's no way it's going to be contained - they are leaving it to God to decide who lives and dies.
Personally have been doing some projections for income and expenditure for JLP Brighton - will share when I have it all together.

You got it spot on wisheyedbortum - the rns says loud and clear that PIs should stop expecting this to be an overnight success. It takes time to realise the gains that we all want. They are moving to 6 monthly updates as this is a slow moving process and PIs should get used to it. Those watching every day are wasting their time. BUY at a price you think fair and put away for 5 to 10 years in a share with great potential whose day has not arrived yet.
The move from 13p to £1.80 was ridiculous.
I have long thought the share started to get a little pricey above 25p and frothy above 40p.
Anyway - it dropped back down to 40p again today as expected and bounced again. Is the bounce over? Probably and not as big a bounce as last time. When the traders have lost the potential to buy the bottom and sell the top at a decent margin then we may see the share down at 25p. Who knows. What the rns says to me is yeah there is much potential but adjust your time frames if you are remaining invested.

I think that's a large scale exploration licence that's already in place TT not mining.

Been reading the JORC report and this has caused me a little concern over the licence. Addison say that before mining GLR would need to sort out rights with landowners which may be with the local government in the area and/ or tribal chiefs. My question is would the Government grant a mining licence without these issues being resolved? Have they been resolved? Would Colin even apply for the licence without resolving these issues first? (I know he said he had applied at an investor conference off record). Can anyone enlighten me please.

Median estimate 235 (between Mbleu and Kalan - sensible chaps).
I think overall break even per month of about 140 tonnes so April could see us out of needing cash to prop us up IMO. After that it's a case of how good can it get.

I stayed in Gerrard's Cross last week which is a stone's throw from Slough and toured the Thames area. Had a virus since I came back (not suggesting it's covid-19) but it's that easy to move a virus from one part of the country to the other - when it lands it will get out everywhere - it's a race to see if a vaccine can help before it gets to too many of the world's population. If we carried on as normal then it wouldn't impact too greatly on economy etc but since preserving life is the top priority then it surely must.

40+80+120 = 240 for quarter.
April onwards operational profit kicks in?

From the JORC report produced by Addison Mining.
"The Star Zinc deposit resides within valid exploration licence 19653-HQ-LEL, known as the Star Zinc
licence. The licence is currently registered under Enviro Processing Ltd, a subsidiary of previously
Alternative Investment Market (“AIM”) listed BMR Group Plc. As the licence is an exploration
licence, no extraction is permitted.
The licence was granted on 14th August 2014 and has recently been renewed with a mandatory 50%
reduction in licence area. The licence is now within its second grant period and is valid until 13th
August 2021
On the 24th of June 2019, pursuant to a Binding Heads of Terms 12 September 2018, Galileo
announced it had increased its beneficial stake in the Star Zinc project from 80.75% to 95% (Galileo,
2019: RNS: 0926D). The Zambian government owning the remaining 5%. The transfer of the licence holder from BMR wholly owned subsidiary Enviro Processing Limited to
subsidiary Enviro Processing Zambia Limited (Galileo 95%, Zambian Government 5%) remains
outstanding. Under the terms of the Binding Heads of Terms September 2018, EPL is required to
apply for transfer of the Star Zinc Large Scale Exploration Licence to EPZL. The transfer application
to be funded by Enviro Zambia Limited, a wholly owned subsidiary of Galileo. "

So EPL are bound to transfer the exploration licence to EZL (effectively 95% GLR and 5% the Zambian Government) and GLR will pay for the transfer.

The great thing about the JLP board is the balanced view - folks see the company warts and all. also we get incite from folks who know what they are talking about (e.g. sharpshooter's post below). There are many helpful posts and not just folks hyping or ****ging off continuously. maybe that's as much a reason for the share being a steady investment base as it is the nature of the assets.
An interesting development today in that a disconnect has occurred, maybe briefly, between gold and palladium. Gold has been marked up and palladium down - too early to see if this is a move by punters to move profits from palladium to gold or just knee jerk reaction to the inevitable news that Covid-19 is spreading.

Some good posts on here now. It is a risky buy but a potentially very lucrative one. I think there may be a need for more cash this year but only if we have positive news. With no progress the cash burn will be very slow.
As for the situation regarding BMR, JLP, GLR and the various assets and licenses. The god news is that Colin is across it all with interests all round. The bad news is it's Colin we are relying on - usually a massive winner or a slow burn loser. Got a fairly small amount in and hoping it will turn into a substantial amount.

Rosewall - I didn't read PGMB's post as saying Bird will sell shares - rather he buys a relatively small amount for him to get the sp up ready for a placing which will dump more shares on the market (the confetti) and sting the people who bought in Colin's wake.
Whether he's right or not remains to be seen. Either the purchase is a great sign of good news to come from someone who knows what's really going off or it's all part of the financing game that |Colin plays so well - you pays your money and you makes your choice.
as usual with AIM we don't know enough to make a judgement and have to trust our instincts.

Hi Craig I take your point - was thinking of the operating profit not just the income - which I thought would be tiny compared to pgm operating profit. Until we see some figures - anyway a good day for JLP on the back of a decent couple of days before - good for all holders and there seems to be some renewed interest in the JLP story.

Hi sumoskier - they raised £6.49 and stated "The proceeds of the Placing will be used towards the completion of the chrome and PGM transaction at the Company's Inyoni Operations as announced on 24 October and 5 November 2019 and to implement the Company's targeted expansion plans which includes the Kabwe zinc, lead and vanadium refinery project in Zambia, and the roll-out of the Company's successful fine chrome solution at its DCM Fine Chrome Operations to all of its operations, including Inyoni and Windsor. "
The question I was putting forward was whether this plus pgm income would be enough to pay for all of the above. Rising pgm prices and Colin's latest purchase tip the balance towards the affirmative.

I think JLP produce less than 30% palladium.
I still think we may see pgm earnings almost double that of the last half year but we will need to wait until July for that.
JLP needs to meet the $16 million payments for chrome and pgm rights + costs of fine chrome plants + Kabwe set up costs.
They have pgm income + tiny amounts from copper and chrome + the placing money.
Is this enough? Have they drawn down loans? Will they raise more in the market.
IF JLP get to Kabwe production from waste with pgm prices where they are then it will be a cash cow in the second half of this year and we could see 9p+ on the share price (7p+ at the minimum).
If JLP have to raise cash and change the strategy to 3rd party materials at Sable due to Kabwe problems then 3p is on the cards. 3.7p to 4.1p seems reasonable at the time being but the sp will go much higher in the future IMO - It may just go lower first that's all.

Agreed Lockesboy it should quadruple on a licence. The agreement with JLP will follow swiftly and then we are into contractors to start delivering to Sable. The time frame is short and the events should come thick and fast. As Tiger says - it is a bit of a gamble as no licence would leave the company back in limbo again.
The muted information from JLP is promising for GLR but not so much for JLP. Have they needed to switch strategy to 3rd party copper and Zinc instead of Kabwe waste due to issues with rights and licenses?
Perhaps JLP are waiting so that they can announce bad news good news rather than just bad news? Bad news we can't put Kabwe stuff through sable yet - good news Star Zinc has a licence and we will put it all through sable in a year whilst they drill and prove up kash'tu.
Fantasy or reality - who knows.