Member Info for Metalhead25

Thanks, that’s helpful. You can say it’s semantics if you want, but he’s not saying weak magnetite is a good thing (as you have repeatedly asserted); he’s saying an increase in magnetite is a good thing, even though it is only a weak increase. But I agree based on his email DP sees what was found as a positive. I do, however, stand by my other point that it’s manifestly not as positive as loads of copper!

If you’re willing to copy and paste his email then of course I’d like to see it

It’s not semantics, it’s accuracy, and it’s crucial.

Here is an example set of normalised magnetite readings, over increasing depth:

10, 10, 10, 10, 11, 12, 13

The above numbers are “weakly increasing”.

In contrast, if you had this:

10, 10, 10, 10, 6, 6, 6

Then you might say you had a “weak” magnetite reading at depth.

Do you really not see the difference?

It doesn’t say “weak”, it says “weak increase”

I don’t think we know it’s going to $10k ish, will have to wait and see. It’s $14k at the moment. Could go to $13k then up again. Could go lower. Will be back up at some point anyway - the drop being mostly a result of the chip shortage which will be resolved

You’re a big fan of telling people they know nothing, aren’t you? Very endearing quality of yours

Thanks Ilja. I’ve said it before but the ability to get quick answers to questions direct from the company adds greatly to the positive experience that is investing in Tharisa

Does anyone understand Ilja’s statement: “We will be presenting this to the board where we might either take the project in-house or develop it through Karo”?

Is the project really Tharisa’s and it can take more of Karo Platinum whenever it wants? Or are there real other owners? If the latter, are those other owners paying 74% of the costs of the feasibility study etc?

The RNS says there is a “weak increase” in magnetite alteration at the bottom of the hole. A weak increase is still an increase. So if “weaker magnetite alteration is a good thing”, the RNS is reporting a bad thing. Got to read the words guys.

For myself, I don’t claim to know whether magnetite is particularly encouraging or discouraging. But I do know it’s much less encouraging than huge amounts of copper, which is what the rampers said would be there. And I do know that the company hit it and stopped drilling

Whenever I see a cross ramp I always know what I will see if I look at the company’s chart: a price which has already spiked and is looking a bit toppish. Certainly true for JKX. Also, had a quick look at half year report:

- cash is 35m dollars, not pounds
- profit / cash increase of c $10m in the half, not quarter
- the main message is that production is declining

Looks like a pure punt on an already high gas price to me. All the downside risk of THS three months ago when rhodium peaked, but without the glorious fundamentals underneath!

Looking on track to replicate 1972 results, subject to assays.

But seriously, all that hype about the high mag zone below the previous drilling range: “At the bottom of hole BCH001, a weak increase in alteration magnetite is observed and is likely to be the cause of a weakly elevated magnetic response at depth”. Ooooh…

I agree we can’t know where it will go in the future, but I wonder to what extent concepts such as technical bounce and trend apply to rhodium, for which there’s no futures market. I would have thought the price was largely driven by industrial supply and demand?

In my opinion there was nothing much in this UBS episode, since:

1. They can’t have bought that many shares on 21 September without us noticing, so they must have acquired the shares through some sort of shuffling around of existing interests (probably something to do with Sinom changing custodian or something); and
2. Even if you imagine there was a big buy on 21 Sep, it would seem to have been followed by a big sell on 22 Sep.

So it’s a “meh” from me. I did see that Align were trying to drum up some interest it, but I’ve made my views on Align clear.

In any case, nice to see the SP rise a bit, even if on a slightly bemusing basis!

Hi all

Apologies if it has been posted before but here is a nice Kitco piece about the silver price: https://www.kitco.com/news/2021-09-24/Silver-price-to-hit-high-ranges-of-triple-digits-Not-enough-on-planet-to-meet-demands-Neumeyer.html

Re the underwhelming market response to the Han**** JORC, my theory is that the likelihood of a good resource here has been known for a while and that what is needed to get the market to attribute more value to it is a specific plan to monetise it. If we can show that we not just could but actually will make a lot money from it then we’ll be off to the races. This is why the planning work for a small standalone DSO operation is so important.

Things are going well, it’s just a case of patience required

Yes, that bit is very interesting.

Got to say, Ben is really producing some excellent media and comms. It makes it a very nice experience being invested here - a far cry from lots of companies where shareholders have no idea what’s going on for months on end. This board is nice too :-)

If Sinom’s shareholding is the same as that mentioned in the TR1 then I strongly suspect that what has happened is that Sinom has moved its shares into custody with UBS for one day and then moved them out again, or briefly pledged them to UBS as security for some borrowing, or something like that. Surely can’t be a coincidence that the percentage is the same? Of course, at the end of the day we don’t know

Have you guys scrolled to the bottom of the RNS? There are two TR1s and I think the second one shows a sale/disposal, doesn’t it? I think if you read the two together it shows that UBS passed the notification threshold on 21 Sep and went under it again on 22 Sep? Not sure what to make of that

Another nice rise in the Rhodium price this morning: up $400 on JMAT.

Also, if anyone on this board doesn’t currently follow Tharisa on Twitter, I really recommend doing so. Their tweets give a nice impression of the great care the company has for its employees and of the contribution it makes to the community - makes me feel happy to invested in a company trying to do things right.

Also, see this tweet showing that Tharisa’s 4E basket price is significantly higher than many competitors and a whopping 27% higher than Impala’s:

https://twitter.com/tharisa_sa/status/1441005906557378565?s=21

Page 12*

Trying to learn a bit more about the techniques we’re using. Found this interesting:

https://pubs.usgs.gov/sir/2010/5070/c/Chapter7SIR10-5070-C-3.pdf

I noticed that on page 2 the massive sulphide deposit appears to be located at the edge of the pink/red spot rather than in the centre, which seems to match up with the analysis in the recent Alan Green interview. I’m an amateur at this, obviously…