Member Info for Kalan

Colin states quite late on in the discussion that the company has a very low value which is a problem at the moment unless you want to buy shares.
He intends and needs to raise more money. £2 million came from estimates on bb's - JLP and here.

Moneyhawk - good points.
IF JLP are in a position to say thanks but no thanks to GLR - where do you think that leaves GLR?

This placing has cost shareholders almost 40% of their share value in a month. The sp looks ridiculously low given all of the assets that GLR have - monetisation of one of the assets is paramount and becoming urgent - GLR need a deal with JLP desperately IMO. If it comes off .8p to 1pcould be possible. Fingers crossed chaps - in Colin you trust - he did get JLP through almost impossible times with much dilution and wheeler dealering so you never know.

Hi Moneyhawk - I have posted on GLR site and ii JLP site.
In short - GLR have no where to go - they managed to get a placement away (well done Colin Bird) to get JORC and licence for Star - but do not have the money or fund raising capacity to get Zinc to sable without JLP help - JLP don't need to help - if the assets are worth having at Star and Kashitu (once GLR have paid for them) just buy them at distressed values - GLR will be desperate for the cash to keep the company alive. GLR have 3 assets and they need to monetise one within the next 6 months - this is the obvious one and JLP should drive a very hard bargain.

Colin states quite late on in the discussion that the company has a very low value which is a problem at the moment unless you want to buy shares. Why would it be a problem? Well quite simply it is difficult to get a 2 million quid placing away when the company is worth less than 1.5 million. He will have to dilute to over with new shares equivalent to 100 to 150 percent of existing shares. Also he says he needs the wherewithal to get on with it. He needs to raise cash us drill holes plus get JORC compliant estimate plus get crushed facilities and excavators and transporters and drilling and bkasti g equipment plus get a mine licence in about 6 to 7 months to meet Sable start up time. Then he says he can supply hopefully 12 to 14 months of high grade stuff to JLP. Revenue of 10 million plus. Less all costs and profit sharing. For could make a couple of million from this. Let's hope they can. From a JLP investors point of view then long may GLR prosper. They can prove up star and kishuto for JLP.

They can update whenever they want Northman but they said they would do regular quarterly updates and now this month/last month it is irregular. It doesn't matter in the real world as the company progress is unimpeded. However, it does matter in the world of investing as investors need to have confidence in what the directors are telling them. The momentum behind this share has been lost and the sp is rolling over down purely and simply to not doing what they said they would. There is a reason behind this delay other than being too busy - it has gone on too long now. The market is becoming unimpressed.

Glad you corrected that GIT - was just wondering who the nine were and how they know lol.
Yes I agree that based on all we know of the company and owner that we have great potential from .42p. Happy to be back in here with my allocation fully invested again.
I wonder what a top 35 lowest average price paid chart would look like. Anybody got an average of over 1p or 2p? Don't think my .35p average is going to make the top 35 on that chart either! Always the bridesmaid.

Was below 2 million myself but by selling 40% at .53p and buying back around .43p I have now crossed the 2 million threshold - don't think I will double up just to get on the leader board though. Only got 20% of my portfolio invested here - which I think is sensible or is it a missed opportunity? Who knows - not me.

I know nothing. Good luck with your investments
I have posted my honest opinion. I am on the JLP board and I am invested in JLP. Not going to argue for the sake of it. I don't know enough to invest in GLR based on the two areas close to Kabwe to justify buying GLR shares. For me it would be a speculative punt. Until Coli and Leon thrash out the economics I can't see how anyone can say how much cash will be needed and what any profit margin might be after mining and transportation.. Colin has 'done the figures' at 9 through to 20 percent and apparently got the same outcome at whichever percentage he uses. Amazing. Fingers crossed GLR shareholders make a packet and JLP enhances their earnings. Good luck minorminer.

Nope.
All back of far packet / 10 years of JLP knowledge and following Colins actions. He is quite open about needing to raise cash at GLR. Sticking with JLP. Not ruling out holding some GLR when things become clearer.

Colin snapped up the Star Zinc and Kashito resources as they were 'opportunities'. He hopes he can make money out of them and he 'knew' that JLP were going for Kabwe. he says that neither Kabwe or Star Zinc / kashito were viable without sable but they went ahead anyway. Now they have Sable (JLP or Colin or Leon) all resources become viable.
Colin will now need Leon to weigh up the various feed options accurately to find if both GLR and JLP can benefit. leon will have his arm put up his back by Colin to make GLR viable. It may be win win but I would guess it will be 25% of the win bonus to JLP and 75% to GLR to make GLRs purchases worth exploiting.

Star Zinc needs equipment and transportation by road - the dilution will mean that the company value may double in the short term but so will the shares leaving shareholders no better off at best. Kashito would be more profitable ('1 tonne of Zinc at Kashito is worth 2 tonnes at Star Zinc' - Colin) and may contain vanadium - but needs drilling - also needs dilution to get that job done. Whichever way Colin goes with GLR it will mean dilution as the company value increases.

For JLP the positive is more feed = more life and possibly more efficient processing and possibly enhanced earnings. The downside as others have posted is the possible conflict of interests which may mean JLP not getting the best value they could if GLR were not a 'sister' company that is 'not a sister company' - Colin.

The company has great assets that potentially can make large profits. On the flip side the Chaiman like most always looks to line his own nest first. Can't blame him and neither can you trust him.
On balance the market says the shares are worth about .45p each. If you paid more than This you paid too much because you misjudged the risk and reward at the time. If you bought for less than This well done you got yourself a bargain. It is as simple as that. In a year's time No one knows what the value of a share will be. We are all balanci g the pros and cons and some will make profits and most will not. Highlight the pros or cons or both but don't slag off those who come to different value judgements. They might be right and you might be wrong.
I expected .8p short term and 1.6p medium term. Adjusted that to .7p and 1.3p due to recent events.

This quarter for gold Bob. Mid year for La Parilla up and running. So we need - La Parilla running and cash flow positive, then the grant which then supply the funding of trial mine.
MM will be thinking Gold results, placing to fund it, then La Parilla up and running and then grant received - why - because he can.

All valid points - the speculation is caused by not being consistent.
They are so busy that the report took a back burner.
The results would be poor and cause a fall in sp when they are preparing a placing.
They have delayed to include a deal that they are arranging and it's dragged on longer than expected.
the fine chrome results are so good they want to keep them under wraps whilst they negotiate deals.
They don't care about PI's and the institutions have had a good update.
The results for March are disappointing and they want to supply jam tomorrow to cover the disappointment.
Just publish the ops update on the 17th as before - good or bad and then another rns if anything significant happens - dithering only leads to speculation which harms the sp.
Going to get a few more if it drops 10% though.

Agreed - got an automated response to my first e-mail saying out of office until mid May so contact a colleague - done that - no reply. I took it to mean they would be issuing the ops update now and so didn't want to reply (understandably) - if they don't then it is plain rude. ToT on ii made contact with Schard Capital who said it was imminent about 8 days ago and that Leon was really busy - totally agree - it doesn't look good.

Due this quarter though?
Nice to know that the gold trial mine will further increase return to shareholders - they must be developing this for free as it doesn't say how they are going to fund it. from La Parilla profits we all shout - just one more placing comes MM's reply.
I added at .43p but still don't trust the man in charge to overcome his placing addiction so won't be buying more if and when it goes higher.

p.s. santock why would anyone pay 22p when they can buy in the placing at say 15.5p or thereabouts. Once the new shares are issued and you buy some - if the sp goes to 22p many would be keen to sell as that would represent a profit of about 40% - this will depress the share price for months to come IMO.

Hi santok - in my experience on many shares - no it will not go back to 22p this week or for several more weeks. The likeliehood is that the sp will fall (it has) then rally (it has) and then weave it's way gently down to where the placing price will be - I would not be at all surprised to see sub 15p at some point and would be amazed if it didn't touch the placing price on or about the date of the submission of the new shares.
Hope this helps - p.s. I don't hold, have never held and don't plan to hold these shares, just popped in as a mate of mine holds the shares cos his mate said to buy em. Just offering my opinion and will depart before the LTHs round on my opinion.

The implementation agreement was signed in February 2019 Kalahari - we are awaiting transaction completion which is dependent upon various 'workstreams' and Ministerial approval.

When I am at a football match and my team is playing well and having opportunities to score but the ball just won't go in - the fans are behind the team and all is well. The other team have one shot and it deflects in off a post - the whole atmosphere changes - the fans turn on the team and everything they have done has been rubbish and the manager needs to change it. they lose their heads due to lack of intelligence and self control. they aren't getting what they want right now so someone must be to blame.
Fortunately with JLP those people have always been on ADVFN and the rational people who realise that this is just a blip in a good performance have been on ii and now on LSE - be thankful that the company is in a good place and it's just a delayed report. Annoying, like the goal that got deflected in off a post but it's just one event in hundreds of events in the life of JLP. Put the teddy back in the pram and have a little nap. The team are playing well, have faith.