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lol. Only time will tell which one it is. We know theres plenty of news is coming soon - new broker to be announced, hernic business rescue outcome, kabwe licence appeal, kabwe JV progress (dependant on licence), next quarterly figures, and work on DCM platinum starting. Possibly further news to on other projects. All of this could be good news, but then again it might not be. That's the risk and why the SP is in the doldrums.

I'm not sure there's anything in that that would have to be an RNS. On the whole he's talking about doing what they've already told the market they are doing or planning to do. Its some figures to prove that they are doing this is what's being waited for. The Dubai mention is new I think, but they'd probably have a good case that possible future office locations isn't worthy of an RNS.

Great, don’t know why my link didn’t work. I don’t know what to make of it, he gives the impression emexgo is operating, has customers, has expansion plans and is transferring large amounts. Doesn’t make sense that they’ve gone silent and haven’t given a trading update unless it’s all made up. But then it doesn’t make sense for him to be giving presentations on it, and to change auditors to kpmg at additional expense. All of that uncertainty is reflected in the share price though!

Quite right, very good growth potential here. It does look to me like the Hernic figures are showing some very good signs that JLPs processes are highly efficient in these early stages compared to other similar companies. The problem remains though that we're not in profit yet, and that's the measure most will judge JLP on. But I think that's just a matter of time now.

Uncovered this clip of Phil Jackson talking about emexgo recently. A bit vague on what they're doing (currently I'd expect nothing less!), but indicates that they are operating. And an interesting comment about 7min30 in, he claims they looking to open an office in Dubai as part of geographical expansion. All a load of rubbish, or some potential here? https://www.facebook.com/qubevents/videos/vb.617967881685251/965967123551990/?type=3&theater

Very low volume of trades = very low demand = falling share price. Just the way it works I'm afraid. Demand and volume should pick up nicely when the Hernic & Kabwe issues are resolved, and especially if the next quarterlies show a good improvement from the last quarter.

Thanks, and certainly from a risk perspective SLP has looked more attractive than JLP for some time. Gross profit and margins are by no means a fool proof measure to gauge a company by, I accept that. But its a good indicator of how viable a business model is and where its heading. It looks unlikely to me that SLP are receiving the spot prices they quote for the pgms they produce. A simple sum of the number of ozs produced multipled by the average spot price quoted in their results gives a wildly different amount to the revenue they declare. e.g. the latest half year results say 45k ozs and an average basket price of $1057, which equals approx. $47M, but their revenue for the period was only $28M But it is very difficult comparing these two companies as similar as they are, as they report in slightly different ways and its probable that they both calculate their costs differently. However, from the headline figures of revenue and cost of sales for both companies, JLP does look to be achieving a much higher margin than SLP in the early stages of ramping up production. A big plus for JLP over SLP now is the expansion into other metals, JLP look to be well ahead in this while SLP are only just starting to look at chrome I believe.

Just wondering if anyone else has considered the gross profit and gross profit margin (GPM) from the interims. Obviously gross profit isn't a figure that's of much use if the operating costs exceed it, but in my opinion achieving a good GPM and improving it is an important step to a business achieving profitability, and I have to say it looks very encouraging to me. I've calculated the current overall GPM as approx. 40% for the 6 months. And using the pgm figures on their own, we're getting a GPM of roughly 50%. SLP is often used as a comparison - they're running a similar business model but producing a lot more pgms and making a profit. And looking at their latest full year results, their GPM is around 28%. What this means is that if we stay on track with our pgm cost, we could achieve a similar gross profit to SLP by producing less pgms. In fact, when all our current pgm projects are fully up and running (Hernic, DCM and Platcro), we'll still be behind SLP in terms of pgm oz and revenue, but our gross profit will be very similar because we're getting a better margin. (Of course dependant on DCM and platcro producing at a similar cost to Hernic). That's just for PGM, we also have chrome to add in and other metals at Kabwe to come. So overall looking promising at the moment, just need to get everything up and running, reach those targets and keep the costs down

Interesting SP for the past week or so. There's been days with lots of sells, days with lots of buys, days with no trades, and the Bid/Ask hasn't changed at all. Prior to that the slightest sign of buying or selling has been giving huge % swings. But that large buy today looks to have ticked up the SP a little. News isn't due, its long overdue now!

Just my observation & opinion, but CB does look to be more likely to take stakes in smaller companies than JLP (often through a placing), and where do those companies may possibly be struggling to get other investors on board. The fact that CB hasn't been taking part in the placings for JLP indicates to me that JLP is in a better position to attract investors than some of his other ventures.

A good set of results and largely what we have already been told through the last 2 quarterly figures. Not setting the world alight, but showing solid progress. Some of the key plus points for me are: 1. Revenue up 2. Costs down 3. Gross profit up 4. 77M warrants outstanding, not great in itself, but the bulk of these are at 6.12p (more than double todays SP) and the lowest at 4.725p (more than 50% higher than todays SP) 5. Indication that another project may be close which will involve cobalt and/or copper A few not so good points though 1. 2949 pgm oz for Jan and Feb. Looks like the current quarter at Hernic will be the best yet, but not great and still a lot of room for improvement to reach the original targets. They say there was down time in Jan (already known about) but no indication how much this affected output. Could be that Feb was nearer to 2000 oz, which would be great, but could be a lot lower. At least we'll be able to work out how much is produced in March knowing the Jan & Feb figures. 2. No decision on how to proceed with Platcro until H2, which sounds to me like there won't be any income from this until 2019. 3. No mention at all on Tjate. Not such a bad thing, its not something we can progress by ourselves. But with its large potential I would have thought at least a mention would be appropriate, even if its to confirm no JV partners have been found yet.

Thanks all. I think what bandit is saying is that NOMAD approval/advice may be needed on the appointment of a new broker, which could add in a slight delay? I see that a few of the other companies involved have started to appoint new brokers, but mainly where their existing NOMAD can also act as a broker or where they had a joint broker so now just have one.

Does anyone know how long companies have to appoint a new broker? The AIM requirement is that companies must retain a broker at all times. Obviously we're not meeting this, and many other companies are in the same position because of the beaufort problem through no fault of their own. I assume some leeway is being given due to the circumstances, but is there a risk that the companies involved could get suspended until they appoint a new broker?

Weeble, spot on, we've got a lot at stake in Hernic, and at the moment its now our biggest cash generator which has been several years in the making. The business rescue could result in no change, may be a better deal, worse deal or even no deal for the tailings. Its very uncertain, and markets don't like uncertainty. Duster, yes we need to get going with DCM platinum, there's been too many delays and it doesn't look good. But the update gave us a few clues for what to expect, and its not really a game changer project to pin our hopes on. Planning for 10000oz per annum, and assuming costs similar to Hernic that could give earnings in the region of �3m per annum. A useful addition to the bottom line, but not going to push JLP forward significantly. Don't underestimate Kabwe though, even at a 40% share the scale is such that the earnings could eclipse Hernic and DCM combined, and over a longer period. Not recognised at all in our market cap in my view, but its hardly surprising since we're in a JV with a company that has failed to make much progress there in several years.

Yes could be a lot more to come, clearly enough information was given to the FCA to cause them to shut down Beaufort immediately. Unlikely the fraud was just limited to US companies, and could open up a wider investigation into other brokers and AIM. Taking the positives on it though, JLP will have a new broker as a result with a new set of private and corporate investors. I don't think that there could be a better time for this just as JLP look to be turning the corner to become profitable and growing fast.

Looks like not long to wait to find out what's happening at Hernic, business rescue plan to be published on or before 14th March which will contain relevant details of the proposed transaction. http://www.hernic.co.za/business-rescue/

So beaufort have gone bust, and a new broker is now needed. Are JLP involved with any companies that aren't in trouble? lol

“BMR also confirms that its appeal against the notice of cancellation of its Mining Right No. 7081-HQ-SML, in respect of its Kabwe asset, will be submitted today.” So just a waiting game now on how long the appeal will take.

Thanks troajan, I do occasional try that from time to time but much prefer to buy and hold with a longer term target price, or selling some into a rise for a free ride up if possible. I just find its an easier strategy to work with and stops me getting worked up about daily price movements. Providing you pick the right ones to hold to start with, that's the tricky part!

Interesting thoughts, thanks. Not holding any in GLR. Bought a small amount in XTR a while back, and two of CB's little ventures with falling share prices is enough for me at the moment, but may look again at GLR when things start to change here.