Member Info for Mikiesunday

Kalan,

With pockets as deep as IRH have, combined with a move into SA. Who knows? They might be looking at the PGM industry and thinking this is bargain city. Whilst a long shot, Nothing is impossible.

I believe the issue of shares for Project G, very likely to be the last issuance of shares, for relatively small projects. Cash flow is increasing as we speak. Circa 400 tonnes of copper from the new front end. Circa 75 rising to 150 tonnes from M. Circa 200 plus tonnes from the original Roan, which i recall having a new feed supply. Further tonnes to be added from Project G, which have the potential to be bigger with an onsite plant. All before the new modules arrive. Then Thutse 2 will add to the cash flow. Cash flow rising rapidly.

Seis, lets hope Fidelity are done. I am guessing they sold the majority of their Christmas placing shares which they got at 5.5p. If they sold down from 8 to 5p they probably banked a tidy profit.

I believe Leon has stated on several occasions one of the biggest benefits of the IRH deal, is the access to the processing capacity at Mopani. The waste rock deal, may form a considerable part of the increased green production at Mopani planned by IRH. If so, i think it would be very likely Leon is at the heart of their plans in SA. Especially taking into account Jubilee’s expertise. There may be some mileage in Tjate and the surrounding mines? Combined would make an incredible mine. Just wild speculation, but who knows? They would certainly be cheap ATM!

Typical fund manager behaviour JLP. They try and disguise their actions best they can. Understandable as they dont want to crash the price when selling or spike the price when buying. They appear to be content around 4.9p. Volume has increased and will hopefully increase further over the coming months with falling rates, burning them out rapidly. China seem to be coordinating their stimulus with falling US interest rates. Alternatively they decide to hold soon as commodities come into vogue and Jubilee come good on the copper front.

End of years next week. Most interestingly the chrome margin for the last year will become evident. 3 good quarters of Thutse influencing matters.

Agree LUFC, there is investor fatigue for sure. It can be seen amongst private investors and certainly within the institutional investors. The only cure will be to see profits rise and i dont think we are far away from seeing that happen quarter on quarter.

Whilst we are seeing some chunky buys often disguised as sells, i am anticipating volume increasing steadily going forward as investors see more and more value here.

This is clearly oversold. With an improving macro ( interest rates falling, more stimulus and demand in China to come. )Improving production of copper and chrome. Improving commodity prices as the macro improves. Its not going to be that long before volume goes through the roof here. I remember days of immense volume. The fundamentals are improving by the day in and out of the company. The share price is way, way oversold and we all know the reasons why. Its just a matter of time now.

Fishy,

Yes indeed, they have their own platform of which customers will have direct holdings, not part of funds. Its impossible to work out how deep their cull is going to go. With interest rates reducing, commodities will come into vogue, hopefully they are just having a hair cut.

Kalan, Looks like its the Fidelity Sustainable Emerging Markets Equity Fund. Which absorbed the Fidelity Emerging Europe Middle East and Africa Fund.

Thats even better Seis.

What a lovely time for copper prices to start bouncing. Just as we start producing meaningful amounts of copper. Even rumours starting of another outsize cut from the fed.

https://uk.investing.com/news/commodities-news/gold-prices-hit-record-high-on-rate-cut-cheer-copper-rallies-on-china-stimulus-3704234

Come on Leon, lets see M sending the 5,000 tons to Sable. At a grade of 3% and a recovery rate of 65% thats another circa 100 tonnes per month. Wonder how long it will take to refurb the condenser at Project G? That would certainly create another jump in production.

What a pleasant RNS today. Confirmation the new front end is fully ramped up. That means 416 tonnes of copper more per month than last year. Assuming this will all be sent to Sable and a margin of $3,500. Thats circa $1.5M dollars more per month through the front door. Or $4.5M per quarter more. Nice. Whilst M & G ramp up, although it does sound like M is now adding to the party as well, im looking for confirmation Thutse 2 is up and running. The combination of Thutse 2 and the new front end will certainly fund a few small scale mines and modules. Well done Leon & Co, finally progress is being made and the bottom line is rising. Just need the share price to follow.

JLP, thats a great post and puts all into perspective. The AIM index is still over 40% down, which also brings some reality to the situation.

https://www.google.com/finance/quote/AIM1:INDEXFTSE?sa=X&ved=2ahUKEwivrsajxdOIAxWZYEEAHW6LDcgQ3ecFegQIHxAb

The wider macro and our seller controlling matters here. However, reducing interest rates should reverse the macro. The seller cant go on forever! Our time is coming.

Edzi,

I believe the main reason for separating the company is purely for safety and no other reasons. If one goes south, it doesnt affect the other. Plus it will be easier to administrate..There is no way Leon will sell any of his babies.

Absolutely gutted Neal is leaving. He’s done a fab job. Taken a big part in changing the company structure, reporting quality and timelines. Like Northern, i would guess he’s been offered a much more lucrative position. He’s on the way up and will keep changing jobs. This is typical of small company CFO’s. Just par the course. At least we know the accounts will be out week beginning the 30th. So before the quarterly’s.

Edzi,

You’ve been doing so well over the last week or so! I almost came to the conclusion you might actually have some shares now!!!!!!! Although probably got more chance of finding Red Rum on the moon!!!!

Frog, thats not the case with Thutse. Originally August was forecast late last year, but that has subsequently been updated to the current quarter. Updates are regular now. You cannot expect daily updates.

Couldnt agree more Dorf. People need to realise, as near as dammit, this company was a one man show! For many years and that one nan got us to this stage. The last year has seen a great transition. With Neal and Ricus taking leading roles. Both seem to be excelling so far. Now we need to give them some space to deliver. If the chrome plant is one or two months late, so be it, but in comparison to the circa $15-20M that could bring, whats a month or two. Remember this plant is much bigger than Thutse1. I get people are time conscious like Edzi, but the end result is building and a great increase in income is not far away. Which means a great re- valuation is not far away. My point is, years of not a lot and now we’re getting real progress in a much more structured manner. Let the new team sparkle and the rest will follow.

Agreed Jonah, my assumption was minimal disruption, especially to the processing of material from Roan. Which admittedly wont be a lot yet, but every little helps as the old lady said crouching over the sea!!

Gray, think the subtleness and potential importance of that comment may have just slipped Frog. Sentiment is thin and they need to play every RNS correct ATM. Copper should have improved as M is clearly ramping up, plus Roan front end will be adding some. I’m expecting copper to rise every quarter. Think i’d rather demonstrate copper is rising before issuing last years finals.

Nelson, i believe Leon was intimating there is plenty of spare processing capacity at Mopani, for the joint venture. I believe Sable has been reserved for the SSM’s for some time now. A credit facility would be great news, this would certainly be a game changer for sentiment.

That’s nice to know Frog!