Member Info for moneyhawk

It would be nice if production starts early, but just getting it started by the end of December is going to be an achievement. Any sooner will be a bonus.

Paddwha, has it occurred to you that if JLP do try and take over BMR it most probably won't be a cash offer. Its far more likely to be in JLP shares. So if someone is shorting JLP to keep the price low, it just means BMR holders will get a better deal and JLP holders will be diluted more than necessary?

I would say JLP have the better side of the deal in this in the short term, possibly for a few years with the debt repayments and contractor fees. But once fully operational and profit making, then BMR have the better side of the deal. I think that’s a fair situation given BMR need JLP to develop it, but it’s BMRs asset. Also have doubts about the BoD, so will see how the set up changes. If it all works out looks promising for the future, but that’s why I’m out for now, and will be keeping an eye on it to try and guess a good entry point.

Does everyone posting here actually hold BMR shares? Just to declare, I don't, I think I've previously said that. My interest stems from being a JLP holder and the JV. Will possibly buy into BMR at some point in the future because of kabwe. But will wait a while because I think there's a good chance the SP is going to be pretty volatile for a while after suspension, and I want to see what the longer term plan and time scales will be for developing kabwe. Might be the wrong decision, might be right, just how I'm approaching it.

Been about 10days since the licence was restored, although deadline is end of April to finalise the JV. But my hunch is both companies will be wanting to get it done ASAP, and they must have thought 10 days was sufficient time to do it for the 10 day clause to have been put in. JLP will be wanting to crack on with works required, and would be preferable for a positive update to go in the quarterlies due soon. Meanwhile it’s looking more and likely that BMR need the JV finalised in order to get their placing sorted out and come out of suspension. Just my hunch, may be wrong!

Lol duster, don’t hold back there! I agree probably not in our interests at the moment to merge with glr. The star zinc project looks promising, but going to require some investment to switch from drilling holes to actually mining the ore. Best outcome for us is that glr tie up with someone else who has the finance and mining expertise, and the material is processed at Kabwe. That way there’s no risk for us and extends the life and earnings at kabwe

Thanks, it looks like a placing had been expected although perhaps not at that level. But all looks encouraging with the test results they’ve been getting. Hopefully one day there’ll be some good material from it coming to Kabwe for processing.

I don’t really see how that benefits us to be honest. There’s no indication that BMR will be selling the JLP shares they hold. But if they did, in line with the limits agreed, and despite JLP being their largest shareholder and despite JLP having appointed a board member, they’d only be doing so to raise funds. So it’d be far better if JLPs SP was higher so that they wouldn’t have to sell as many shares. Volumes on JLP are pretty low at the moment, and there’s been days recently when around 3m being sold have caused drops of approx 10%. BMR hold 63m.

Well it looks like lots of different views being expressed today. No bad thing, its better investing somewhere where no one else is at all interested! And I would say that there is one thing that both JLP and BMR holders all seem to agree on, which is we need a bigger plant to deal with amount of tailings and resources. If the 5t/ph plant is built, then hopefully that can be turned into a positive in the long run by enabling the team to optimise designs for future plants/expansions. In terms of the SP, I think that there are multiple factors. Kabwe certainly one which hasn't helped in the short term, but then another big factor is that accounts still show a loss, and many other factors as well. To push this forward, that's going to have to change to be showing profits, and I do think we're on the right track for that. GLA!

Don't mean to correct you but you must be reading different info to me. But I've read it as the resource estimates at kabwe are JORC compliant for about half of the tailings. No reason to assume the other half don't contain decent grades, and not having all of the resources fully JORC compliant isn't any different to many other mines and tailings dumps out there. But even if they don't, over 3m tonnes at JORC compliant estimates is still very good. Overall it looks a very good prospect to me for both companies. But I don't see it as providing instant high earnings, its going to take a bit of time to build up.

Yes 30th April is the date we're working to, the 10 days doesn't apply in this case now as the deadline extension was made with two scenarios and for it to be the later of the two. Hopefully we're hear before that though. I should imagine BMR want it formalised to get their placing sorted out and come out of suspension, while JLP will no doubt want to have a clear message to put out in the quarterlies due soon.

Bring, producing both chrome and PGMs, and at a low cost per oz (sub $400). Quarterly update due sometime in the next couple of weeks should show some progress with the ramping up the pgm production at Hernic and possibly a further drop in the cost per oz. Also expecting news on two further platinum projects being progressed at DCM and platcro.

No if you were a trend follower you'd have been pilling into bitcoins at $15,000 and would now be nursing a spectacular loss. lol

I think we all know here that platinum prices have been pretty poor for a long time now, and aren't showing much signs of improvement anytime soon. But our current platinum projects are very low cost, and we can produce at a big margin even with the low prices. And the low pgm prices are why JLP have been refocusing to move into other metals as well, and all the recent hints have been the next project involving cooper/cobalt. But of course, if and when the platinum market goes back up, or long term investors start investing more in mines for the future, then we have tjate with 65m oz.

From what we’ve experienced of the current BoD at BMR during this deal so far, I think it’s reasonable not to believe anything they say until it actually happens. So when they say they anticipate announcing a placing at 3p, I wouldn’t be surprised if it doesn’t turn out that way. They might even genuinely be trying to get that placing, doesn’t mean they’ve got it though. But if they do, then good for us, the value of our investment goes up, and our JV partner won’t need bailing out.

Yes, different metals, plant and processes involved than at Hernic. But I look at hernic as a good example of the costs involved, and to get to a plant big enough to tackle the resource at Kabwe its going to require some big expenditure. It doesn't look like the initial plant will generate enough earnings to pay for that in the short term, so it'll either be several years away or some more debt funding involved. BringMyReward suggests that the vanadium circuit is going to be fairly straight forward and sounds like not much extra expenditure, so that might generate the earnings to fund a bigger plant? If that's the case, then it'll be very good.

My guess for this quarter is somewhere between 4800-5000oz pgm, so big improvement from the last quarter, and cost per oz down. But platinum price has fallen a bit in the last few months, so we might not really see much of an improvement with what we actually make per oz. And of course the critics out there will point to the original targets which we'll still be short from.

Thanks Bring, good info there on the zinc, didn't know that was the case. And yes Vanadium looks like its where this project is going to start getting really good. LC talked about lead and zinc first, vanadium to follow. Some concern though, probably with quite a few JLP holders, is that we've had a similar scenario at our DCM project. It was up and running pretty quickly and covering costs with chrome, but the most valuable part of it (the pgms) still isn't up and running. I suspect the DCM scenario has occurred because the PGMs it can produce wasn't enough to make it worthwhile to pursue over other opportunities. The sheer scale of kabwe and the value of what's there is in a different league to that project, and will hopefully mean we don't end up in the same position.

Absolutely sumo, very good prospects here and worth all the risk. Just won’t be straight away. Imagine if we built something with similar capacity to Hernic (55,000 tonnes a month instead of 3,600). Although I think we’ll need to assume lower recovery rates than the maximums I’ve highlighted.

Thought I'd have a look at the numbers, just my calculations, may or may not be right. A short summary - It looks very promising even from a small plant, and good for a start, but there's going to be a few disappointed people when the revenue starts coming in. From the 5tph plant, absolute maximum revenue appears to be �1.1m per month and will probably be much less. See below for how I arrived at that. Subtract from that costs (inc JLP contractor changes), which are unknown, and suddenly we might be in a position of not much left over for profit sharing. What is left then has to pay our finance off, plus 30%, before any profit share. To increase the throughput, a bigger plant is needed, and Hernic cost us �13m Taking the absolute best case scenario I could find, using the following assumptions from the information we have at the moment: 1. Plant can actually run at 5tp/h 24/4, gives 3600 tonnes per month; 2. Wash plant tailings look to be the best grades - approx. 10.66% zinc, 7.21% lead; 3. Recovery rates BMR claim to have achieved in testing are 79% Zinc, 90% lead; 4. Max Totals per month - 303 tonnes Zinc, 233 tonnes lead 5. We will produce pure lead/zinc than needs no further refinement and we receive the full spot price (unlikely, but just for the assumption). 6. Revenue = $999k zinc at $3,300 per tonne, $559k lead at $2400 per tonne. 7. Total revenue per month $1.6m, or �1.1m BUT - The plant probably won't be able run 24/7, these appear to be best grades, other tailings pilings aren't as good, the same recovery rates achieved during testing may not be achieved when scaled up. Overall, huge potential here, but only with a bigger plant and adding the vanadium circuit in.