Member Info for moneyhawk

if they are selling we'll get a holdings RNS soon. But looks unlikely, the trading volume is too low in my view. Even on the recent days with 10% falls there's only been around 3m sold, and BMR hold 63m.

Perhaps LC has included this in response to speculation that they might have known about a problem with the licence and went ahead anyway. BMR still aren't rebutting JLPs version, so I'm inclined to think JLP are telling the truth on it as I would have thought that there could be some pretty serious consequences BMR or maybe directors as individuals for not disclosing important facts they knew about if JLP decide to take matters further. The last sentence is very promising though: "We are in active discussions to potentially expand our project pipeline to include copper and cobalt in the short term"

Year end 31st jan, so audited accounts required to be published by 31st July. Box have given trading updates in previous years shortly after the year end, so the absence of an update this year doesn’t look promising, which is of course reflected in the sp and mcap

Interesting, perhaps investors with long term planning may start returning to the platinum market. Could be hope after all for Tjate.

Could just be a mistake by whoever wrote the article, and they didn't know there is a difference between what's on the site and what's part of the business being sold. Wouldn't be the first time an article doesn't have the right facts in it!

My view is that we don't own the dumps at Hernic. Not going back through all the RNS's, but thinking about it some more, whenever Platcro is mentioned they're very keen to tell us that we own the material and all the PGMs in it with no profit share with anyone. Hernic is never talked about in the same way, and its often mentioned we have a profit sharing agreement for the PGMs once our costs plus a % is covered from earnings.

Yes I’m guessing at those kind of figures too. Should be fairly easy to see what’s been produced in March even if they don’t break it down, as we’ve already been told the combined jan/feb production. This should put the quarter around 5000 oz(or just short) which will be very good progress. How the market takes it though is another matter.

Happy to hold as well. It does look like its just a matter of time before the downward trend here reverses. The business is growing quarter on quarter, with realistic prospects for further growth in DCM platinum and platcro, plus kabwe if it comes together. We've seen big price swings in the past few days on little volume. A few million sold and we lose 10%, a few million bought and we gain 10%. Could go up fast if some serious buying starts when the numbers start to show beyond doubt that a profit is being made and there's more to come. How long that will take is anyone's guess though, but the momentum is in the right direction in my view.

My guess is (based on recent updates and sp movements) is that the next production update will be good, and be the best yet. But it will be taken as below expectation as we're not going to be at 2500 oz a month, and so the SP will fall. I hope I'm wrong though!

Possibly that's the case duster, I don't know. But in the webcast LC was talking about JLP having a contract with hernic which will carry on with the new owner.

lol, maybe they're building up a cash reserve to pay the legal bills ready for when JLP deal with the licence problem

ITs frustrating that its taken so long, but it now looks to be progressing. Just taking some of the key points from the webcast - 10000 to 15000 oz per annum for a min 10 years, that's a minimum 100k-150k oz pgm overall. Assuming costs/revenue will be similar to hernic, with a profit per oz of $342 oz from the last quarter, that's a minimum of $34M profit over the project life, and with the group costs now being covered, surely that's enough by itself to support the current MCAP, and DCM platinum is now only a small part of the overall plan. All looks very good.

Had a chance to see webcast now. All seems good to me. Looks like LC scheduled in the webcast at short notice with nothing new to say in response to the falling share price, which emphasises how undervalued he now sees JLP and that he sees it as a problem he needs to address. Some key points I've picked out: 1. Quarterly updates to continue, there won't be monthly updates. 2. Hernic - business rescue going ahead. JLP contract is with Hernic, and will carry forward to new owner. February saw highest production so far, around 1680-1700oz. However, although LC says that there's no need to be concerned, obviously there was because if the Hernic Business shut down rather than being rescued, then we wouldn't have a contract with anyone to continue our operation there. 3. DCM platinum - design for plant submitted for approval. Looking at 7 month construction phase to first PGM produced. Minimum 10 year life, targeting 10000 to 15000 oz per year. Possible scope for expansion. 4. Platcro - more news shortly, probable in next quarterly update. 5. Kabwe - Interesting comments, 1st that project is exceptionally attractive and 2nd that priority is to work with BMR in the "short term" to get the licence reinstated rather than enter into a dispute with them, with a strong impression given that it is JLP working to satisfy the Zambian government rather than BMR. Seems to be leaving scope to deal with any misrepresentation about the licence further down the line. 6. Finances - Group as a whole is now operating in profit, with operating expenses being covered from revenue. He responded to lots of the comments that have been made here and other bb's about what the accounts should include, and said that their auditors are happy with what they include.

Yes looking good so far, on paper a few hundred up from my Monday top up. But still at a loss overall here after the recent falls. Fingers crossed this has finally bottomed out!

‘‘Tis indeed. But need quite a few more days of this just to bring us back to the levels at the start of the month. So there’s still plenty of upside here.

The one part of that that I do see as a problem, and one that the BoD is at fault for is missing the targets for Hernic. Setting the targets is entirely in their hands, so when they've missed their own targets with only an explanation of ramping up production, it looks bad. It be better in my view it'd have been better to set clearer targets that they were expecting in the first year. The way they put the project across gave the impression it would be running at full capacity from the start, and they've been failing to meet their own targets ever since. The other deals I don't see as bad in the long term, as it gives realistic growth prospects. But in the short term it hasn't helped the share price.

Looks like Samancor have agreed to buy Hernic in full as a going concern for R500m page 50 - 16.5 "The Sale of Business Agreement provides for the purchase by Samancor of the Business of Hernic, as one indivisible transaction as a going concern, with effect from the Closing Date, including (without limitation) the cession of the Mining Rights held by Hernic and the transfer of the Immovable Property."

Whatever caused the big drop this morning has at least generated a little bit more volume and interest. Going to need bigger daily volumes to see this rise significantly, so at least a step in the right direction, just a pity the SP is down!

Strange timing, I thought they might do the next webcast after the next quarterly figures. I hope the timing is because there’ll be some good news beforehand, and it’s not just going to be a repeat of the latest vox interview!

I don’t really get that, there haven’t been recent placings where it looks like Beaufort would have had a holding. The last couple have been shares issued to BMR, and the shares for named institutional investors. Have to go back more than a year for the last warrants exercised that don’t have details of who was getting the shares. Would Beaufort have exercised the warrants and then held for so long?