Member Info for moneyhawk

It looks like that’s still the case, chrome being removed by platcro. No mention of us building anything, and tailings being transported post chrome removal.

Yes probably unlikely and a bit of wishful thinking involved. But not completely out of the question at some point over the next few years. Could depend on how long their current mines have left to remain economical, and tjate will take years to develop. So if they were looking at what they want to be mining 10years from now, its not out of the question that tjate could be at least on their radar.

That would be a nice surprise! Maybe the issue of shares for the tjate licence yesterday was more than just going through the motions they need to follow, perhaps something might be happening?

Yep, I don’t get it either. Looked like a flood of sells yesterday, news yesterday wasn’t great, wasn’t bad, was just pretty much what most expected with the pgm figures. But the SP went up. Today it does look like great news, another project moving without much cost involved and will be producing in less than a year. But the SP is going down?

Just what I was thinking. They have some deep mines, one looks pretty similar to tjate, would follow they’ve also got some tailings that could be reprocessed. Perhaps this is effectively a trial run, where we put our own material through, before a bigger longer term project is agreed with their material? Just speculation of course.

I’m I reading that right? Platcro to be producing more pgm than Hernic? We don’t have to build anything, just refurb a plant all ready there. Great stuff.

Fair comment, and I think you're right, LC is technically very good. But I also think managing expectations is something that they could improve on. The way I see it is that these projects are being 'sold' to shareholders as quick projects to develop, and that sets an expectation that profits will be seen almost straight away. What they don't convey very well is that in mining terms, a couple of years from signing deals to getting a new plant commissioned, optimised and into full production is quick. This leads to people buying in on that expectation of it being 'quick', and then the share price suffers when those expectations aren't met even if the project is actually going very well. But I accept that its a difficult balance to strike, if they're too pessimistic with the expectations then It could spook investors.

Certainly makes a nice change that lots of trades being reported as sells aren’t causing a big drop. Could be a good few weeks with more news coming. The Kabwe JV is dragging on, perhaps the finer details being haggled over, perhaps board changes at bmr were made a requirement by jlp in response to the licence fiasco? Also news on platcro, and perhaps work on DCM coming soon.

Good question snaffleman, hopefully they’ll learn from this for future projects and set expections for ramping up. It’s taken a year since commissioning for the targets to start looking possible, and that might have been the plan all along. But since they never gave a ramping up plan/target, it’s just been looking like it’s performing below expectations even though it’s been performing well with the unit cost.

Checked the numbers and it looks better than first appears. 4896 oz for 110k tonnes of tailings works out to 0.0445 oz per tonne. Multiply that by plant capacity of 55k tonnes per month and we’re at 2448 oz per month. So not quite there yet, but looking like the original targets may be possible after all. Now the question is whether we can keep getting the same recovery rate with increasing the throughput to the plant capacity. If we can, then 2500 oz per month, or 30,000oz per year is within reach.

Some good signs, and a few bits that give some interesting clues about Hernic. Tonnes processed has fallen since the last quarter by 10000 tonnes, but 1000oz more of pgm produced at a slightly higher cost. Also compared to Q3, only 5000 more tonnes processed but almost double the pgm ozs. Looks like maybe they’re still optimising the plant to try and get the best mix of production vs cost. Also tjate being mentioned, perhaps starting to gear up for something happening there.

Don't know much about FCR. A brief glance at their website and it looks like they've got a lead/zinc/silver mining project in Spain. Can't see a mention of tailing dumps. As with many AIM explorers/miners, its a "potential world class" project.

Some big sells showing today, but the SP is creeping up. Good sign I'd say, perhaps some late trades are going to pop up at some point? Hopefully we can get back to near where we were before the kabwe mess, and prior to the volume ramping up with lots of good news flow.

CB appointed to the BMR board, news on JV to follow shortly. Hopefully that will be this week, but they do have until the end of the month.

No Jlp don’t own a share of the tailings as such. My take is that a JV company has/is being established that JLP have 40% in, and that company is assigned intellectual property and right to operate the project etc, and that company is subcontracting Jlp to be the operator. Profits that company makes are to be split in line with the ownership (Jlp 40, bmr 60%) So far it appears the licence and physical tailings remain solely in bmr ownership, and the JV company operates the project on behalf of bmr. I guess you could also take the view that jlp indirectly owns 29% of the tailings as it owns 29% of bmr

Interesting, thanks again for the tip (or ramp as some would say!) And worthy of looking into a bit further, could be quite a few bargins out there at the moment if things are about to change. Been a few mergers and acquisitions since I last looked at the gamblers, so need to read up a bit on what’s been going on.

The right to gamble on line isn’t in their constitution, so it must be bad. Lol

Good info troajan, thanks. Dabbled in and out of the gambling sector a while back, made some good gains. But then made some loses when the Americans clamped down on the online gambling and haven’t really looked at it since. Could be a good time to start looking again.

Possible yes, and if BMR started selling assets to raise funds or went into admistration JLP would be in prime position. Doesn’t mean it will happen though, at lot depends on the competency of the bmr BoD to keep it going until cash starts to come in, and then what they do with that cash. JLP are appointing a board member (CB), and proposals already announced to split the chairman/ceo role, so things may change with regards to their competency. Either way, it’s good for JLP in my view. It’d be good to have a large stake in a well run profitable company, likewise it’s good to be in a position to be able to pick up the best bits if it goes wrong.

Good point bring. None of us really know how much JLP will earn from the sub-contract element. Will no doubt have to wait for some financial figures to be released, and even then it might not be entirely clear!.