Member Info for Kalan

Agreed Tiger - only a couple of sells today, rest are all buys. Are you hoping for a lower price Capehake as you have been more negative than usual on JLP over recent days (ok if you are waiting to buy lower, it's your choice).
Interims better than expected IMO- alround positive with the exception of DCM IMO - still stockpiling pgm rich material with no material plan. The chrome was hit and miss throughout the project. The silver lining which could compenaste for all that and more is the Fine Chrome development - keenly awaiting news of that in the next operations update which should be a couple of weeks away. Could dwarf Herinic in value to the company - if the figures are good and the interest from Majors is followed through.

Assuming the sp stays where it is until Thursday (day placing shares are admitted) then those taking part in the placing can only sell at a loss. We know that two of the institutions taking part are in for the long term. Sell side pressure should be minimal IMO. The question is how far will it rise and in what time frame. Putting in the bottom draw and looking in 2 years could be a good idea - double or treble the current sp by then is on the cards. In the short term we have interims which won't do much to spike interest from those who don't know the company well. The 1st quarter results will be interesting for the DCM finances and could increase speculation. News of more fine chrome plants from revenue will be positive as would news of tie ups with 3rd parties for fine chrome. Platcro pgms will have to wait until the second quarter to make an impact in terms of finances as will DCM pgm permission hopefully.

Have to agree with everything you have posted OneDayRodders. Yes we were in dire straights last year (anyone saying so on these bb's would have been given short shrift back then though wouldn't they). Also the potential for an outcome other than us getting rich is quite high (I reckon 5% chance that it comes back and then makes us rich). Also agree that ZaZA will re-list if at all possible (SN and ZaZA have managed to mug folks for half a billion dollars through AIM over the years and lived a luxury lifestyle as a result - why wouldn't he want to relist and get the gravy train going again).
But most importantly I agree that we can all hope that holders (not just LTH) get some of their money back - not banking on it myself - put it down a £0 on my spreadsheet as soon as it was suspended. I appreciate that it's difficult to come to terms with losing large amounts of money on an ill advised gamble on a really awful company - but folks seem to be gradually coming to terms with it - what we need to do is learn from it - we have been at loggerheads before when we should have been talking constructively about the pro's and con's of this share, the risks and rewards. The LTHs who persuade people that a share is all reward and no risk need to take a close look at themselves and change their ways. Anyway - here's to a good outcome (not hopeful of anything decisive tomorrow, the solicitors will want more fees) and a prosperous future for FRR on the FTSE 100 (if you are going to dream then dream big).

Got to be happy with that - got a 2 year and two month investment timeframe before I sell up and pay my mortgage off - expecting to get 3x what I just paid in that timeframe, maybe more.
Endorse everything Weeble just said.

Moneyhawk - this is from Tot on ii - he has taken part in placings before through Schard Capital:
"Am advised that the two main II’s who participated in the placing are there for the longer term gains which are clearly coming into sight now, as am I.
More soon hopefully,
Tot"

Having posted two broadly positive posts I would say that the one place that JLP need to take a look at themselves is at DCM.
In for pgms initially which we still don't have permission for or a plant. Went to chrome and made money, expanded to 3rd party material and the two didn't work and ended up with no production. Then the fine chrome plant afterthought which has cost money and delayed production. Not a great track record. However, Leon's genius may well have provided a really lucrative silver lining in the development of the ultra fine chrome recovery system which is attracting the attention of (currently) much larger companies as well as offering the prospect of further income at both Hernic and Platcro. We await the figures before we can say that DCM is a phoenix from the fire.

Someone mentioned earlier that conversion of the Sable plant for zinc and lead should be ok as these circuits are commonplace but that the vanadium circuit would be more problematic as they are not so common. Leon has answered this as he states that the piolt plant which is already successfully up and running for vanadium and zinc can be incorporated into the Sable plant - it's already tride and tested 'in situ' with the actual material at Kabwe.
Also to debunk another myth - the Sable plant is immediately adjacent the Kabwe site and not many miles away as some were suggesting a week or two ago.
Is everything rosey - no - are the problems and Jubilee perceived failures exaggerated - yes.

Hold and add, hold and add.

Leon states that Platcro chrome is almost as high a margin as Hernic and has come to profitability 3 months early. He also states that Hernic has margins of 25% to 35% depending on production and basket price received. Furthermore he says that Kabwe will have similar margins to the existing projects.
Based on previous figures posted today then this should give profit of $26 million to $36 million from Kabwe alone. Plus Platcro Chrome, Platcro pgm, DCM chrome, DCM pgms.
Remember that current profits have been re-invested in the new fine chrome plant and the Platcro chrome plant ($8 million).
We will have further news on fine chrome roll out to our and other's operations.

An earlier calculation of 80p a share based on turn over rather than profit still comes in at 20p to 28p depending on the actual margin achieved at Kabwe. Always thought it would be worth over 9p and that conservative share price is beginning to look like it allows for all the things to go wrong that the doom mongers predict.

Now we know more - going to purchase my next tranche, target buying price was 2.4p to 2.45p, got the first lot at 2.35p and may get the next lot at the same price if we touch the placing price on the sell. At that price it should be a 4 bagger and potentially a 10 bagger. GLA DYOR.
p.s. disappointed with ramp up speed at Hernic but this turned out to be due to feed rates which were outside Leon's control. Also disappointed with Platcro pgm first smelt being delayed from Feb/April to May but JLP have more than met their delivery schedule so it looks like this is down to Northam, again outside of Leon's control.

Hernic Jan and Feb 1.1
Hernic March 0.7
Platform chrome 1.35
DCM?
Platcro Pgm 0
Total of 3.15 plus DCM.
Earnings up approx 50% quarter on quarter.
Platcro Pgm to be added albeit later than originally planned. Kane still puzzle. Timing also a puzzle

https://www.kitco.com/news/2019-03-19/Record-Setting-Palladium-Outshines-Gold-Other-Precious-Metals.html
Expectation of a million ounces shortfall in palladium in 2019 to drive prices to $2000 per ounce. Surely petrol catalytic convertors will switch to platinum instead at some point???
Never the less $1600 palladium means that the palladium is now, what, 45%+ of JLP's income from pgms?

Agree with everything you say 34degSouth - just go on Kitco and read the predictions for gold - it's always going to go up because of x,y and z. They will be right one day.Over the past few weeks the platinum movement has continued to be synchronised with the precious metals but upward moves have been bigger than gold and silver and re-traces haven't gone back as far so, hopefully, interest in platinum is on the rise. the crucial part is when the speculative investors start to hoard it in ETF's just as the supply and demand become tight - this is what has happened in palladium.
As for JLP - what will create a re-rate - Kabwe, PGM projects showing through to bottom line, fine chrome plant demand from larger companies, platinum price taking off (at $1400 platinum and palladium Tjate alone would be worth multiples of the current market cap). So the opportunities for that re-rate exist - what if all come to fruition in the next 1 month to two years? The current market cap appears to be expecting that none of the opportunities will come to fruition IMO.

Hi woody126 - the answer is that the 20% owned by PI's will change hands. Some of the 80% owned by ii's will also change hands.
At 25p I am not going to sell - if new buyers come along then they will have to be prepared to offer more than 25p. The market makers want shares to be bought and sold so if good news comes out and they leave the price at 25p then no-one (or very few will sell) and the market makers won't make much money. Therefore the market makers will lift the sp on a positive rns even before the market opens. So good news comes out and the market makers lift the sp to 30p sell and 31p buy for example. The market makers know there are lots of buyers and few sellers at those new prices and so raise the sp again to get some more people to sell and so forth until the number of buyers are diminished by purchases and some are put off as the share price gets too high and then the market makers will drop the price to entice new buyers into the market and some holders will still sell at a lower price because they fear that the sp will drop further. Ideally a saw tooth action in the share price is established as the sp works it's way up.
p.s. don't belive the long term holders who appear to be always topping up and adding more - they rarely say when they sold - they just go quiet.
p.s.2 the long term holders also continually blame market makers for playing games when actually they are just doing their job in trying to stimulate buys and sells. they do occasionally play mind games, such as in quiet times where they lift the offer price to give the illusion of a break upwards to panic some into buying because they think the sp is leaving the station. They are just widening their margins in thin trade as they aren't making much.
ps3 - you will get little or no help from other 'investors' on these boards - they are mainly males who think they are in a competition that they have to win. There are lots of egos around as well - people who think explaining anything other than the share price is going to go up because they say so is beneath them. Overall the pi's on these boards are not that good at buying and selling shares as 90% of them lose money.
p.s. 4 on these boards there is usually an 'in crowd' who know lots about the share but round on any 'newbie' who has the temerity to offer a different opinion to the generally accepted one in their little gang. A pity because we could all help each other out big time by just being honest and open.
If the deal is signed off then there should be no reason that the sp doesn't double, as far as I know and with continued good results from Niger drilling we could see the sp treble at which point I will sell as my objectives in investing here will have been met, belatedly. Long term who knows where the sp might end up?

If platinum gets a tow upwards from palladium we need to watch 875, 1000 and 1200 for resistance points. IF.

From memory I think we had interims or an operations update where Leon gave us a bang up to the minute estimate for the current month. He could give interims on the day of the conference with an estimation of the operational figures for the current quarter and follow this up with interviews.

Had a look at an electric car. 30000 with a limit of 144 miles claimed so that will be 100 miles after 5 years. Would need to charge up 4 or 5 times to get to Cornwall from Yorkshire. For 35000 I could get one that does 230 miles to a charge in theory. I think my next car may be diesel as the running costs are similar to electric but much greater distance and cheaper.

|Interims normally end of March for 2nd half of 2018 but last year they were early.
Operations update should be around 17th April - this is when we may get a full update across all operations and potential operations?

Supportive at current sp level with upside much more likely than downside. Hoping for bare financials (small loss) at end of March and humdinger of operations update Mid April followed by fine chrome projects news and Kabwe plan in reasonably quick succession.

A sense of reality now on here with some excellent posts in the last 24 hours. The company was desperate for cash and it would not be forthcoming with Foo in charge - he tried the West Med re-incarnation as an act of desperation and the insurance claim to raise folks hopes - never the less he was advised that he had to go to keep the ship afloat with a new cash injection. He is still around though, they need his votes to get things through don't they. As others have pointed out the 13 million won't be enough to achieve their aims - double that is needed and even then it is all pointless without increasing sales. Place your bets - double or halves - will the sp be 6p or 26p a year from now? One for the traders methinks.

Years of beating the drum - only gas on land, customers queueing up, power supply to two power stations, condensate etc etc.
Been in and out of VOG for many years - when will they drill that anomaly - good chance of oil IMO. West Med - re-surfaced again eh - Bob Hope chance there. One thing has been consistent - MR Foo took his royalties and his enormous salary - why the change now - quite simply the company was about to go under - no-one was going to stump up more money whilst he took out a huge chunk of the cash they put in and wasted much of the rest on poor drill performance and under achieving in terms of gas customers and selling price. He had to go.
So FOO goes and they cut the salaries but they still plan to drill - complete 108, then Matanda all to fullfil the existing and new(?) contracts - they aim to be cash flow positive in the near term. That's within 18 months in investment speak. How?

Spend quickly to get 108 complete and drill and connect Matanda - but will they be cash flow positive after this initial big spend period? They have to sell more and cut overheads - they can do it on paper. can they do it on the ground? The old VOG management never could - good luck to those holding because I think it will be a bumpy ride and as the ride goes on - the new owner gets to own more and more of the company - delist down the line? We will see. Sitting on the sidelines since my sells at 60p to 80p - continuing to do that for now - need some serious proof in this pudding before I invest my cash.

Agree on the reporting 34degsth - regular updates didn't break us out but a blockbuster update will. I don't think agreement has been made with regard to Sable otherwise they would have to tell us - it's big news IMO (but I could be wrong). They may just be keeping quiet whilst they negotiate and make a final decision on what to do and get on with the very busy program of works underway across 3 projects and don't forget the Fine Chrome will be attracting interest from other parties so a lot for Leon to be working on - I think weeble said something similar last week.

Market cap 31 million. Cheap - bought some more slightly below my target price at 2.34p - keep talking toobs - the next lot may be even cheaper - but not much if you look at all the indicators - buying sub 3p and selling above 9p. Ignore all 'noise'.