Member Info for moneyhawk

I would guess 2 reasons: 1. Up to now there's been no confirmation the BMR deal has actually gone through, and 2. The lack of more significant RNSs to update on how the various projects are progressing. Hopefully that should change soon though, over the next couple of weeks and months we should be getting at the very least updated earnings from the Hernic and DCM projects, the due diligence of the Kabwe project, and at the end of March the outcome Hernic mine business rescue process which will hopefully give some clarity for the future of our Hernic tailings project.

LOL! I'm not invested in BMR at the moment, but have looked in on the board and lots of posters do seem to be rather upset. The general gist of the problems looks to be the management of BMR have failed to get any projects off the ground, and that we (JLP) have robbed them (BMR) as a result. However, it looks to be a good deal to me for all parties if, (big if), we can get the Kabwe Project up and running. Potentially a very significant source of income for both companies, and far more realistic than developing Tjate at this stage. It will be very interesting to see how much objection JLP (as the biggest shareholder) will put up to any proposals that result in shareholder dilution at BMR in future.

Yes that's right, JLP now own 29% of BMR and there should be another RNS floating around or appearing soon to say BMR have 63M shares in JLP (as part of the same deal).

Good find, although the RNS is only confirming the 97M shares JLP have acquired in BMR as part of the deal previously announced, and the total number of shares in BMR is 335M

Agree with comments about Tjate. At the moment I would say it’s of zero value, because there is no plan (that we know of), the cost of developing it will be too great for JLP, and there’s no sign of any JV partner. Perhaps a strategy of leasing the land to someone else is the way forward, say for 10% of PGMs they mine plus rights over tailings? 10% of something is a lot more than 100% of nothing. But the current projects do appear to have started delivering in my view, albeit slowly. I’m hopeful of seeing an increase in PGMs per tonne of tailings and reduction in cost per oz in the next figures. And just as important, action is needed on getting the next projects started with firm timescales. We need a project pipeline that shows a good income stream for the next 10+ years is achievable to have the best chance of getting a decent P/E ratio

Thanks for the welcome! I get your point on recording the sales figures when invoiced, and I think that lies at the heart of the issue. I recall it being mentioned (I think in a web cast) a while back that JLP don't receive money from the amount of concentrate they deliver, but instead its based on the PGM content in that concentrate, which isn't know until its processed. Therefore they don't fully know how much PGM there is until the refiner has told them. Its this part I suspect there may be a delay with if the refiner has shut down for a week or 2 over Christmas.

Does seem to be a bit strange. The 63m shares issued to BMR (4.8%) don't show either. However the total number of shares does tally with the RNS on 15th Jan. Neither of these large blocks could have been sold quickly enough so not to appear on the list, the volume just hasn't been high enough. Two possible options I can think of; 1. the list is inaccurate, or 2. Both of these blocks are being held by multiple people/entities with holdings of less than 3% each. The JLP shares in BMR do show on the BMR website btw

Thanks, and fair point on the November figures. Can't see any reason why we don't have those yet. If they are going back to only giving quarterly updates it would be nice to be told! There's been several recent RNSs where a line could have been put in to say a monthly update is not going to be made going forwards.

Hello, first time post here, but I�ve been holding JLP and following the board for quite a while now so I thought its about time I shared some thoughts. Firstly, I�m not overly concerned with the lack of a quarterly update so far. Previous updates have typically been 3 to 4 weeks after the end of the quarter and have included figures of revenue received for period. Due to Christmas being at the end of the quarter I think its reasonable to assume JLP will have a delay of at least 1-2 weeks in receiving some revenue so I wouldn�t expect quarterly results to be out for another week or 2 at least. (fingers crossed they�ll be sooner though). Secondly, I have some thoughts others might be able to help with filling in the blanks and improving my assumptions. To state the obvious, the DCM platinum (or lack of) is getting very frustrating . However, I�ve relooked at all the info available and my thoughts on this are: 1. Hernic appears to be producing approx 0.03oz PGM per tonne of tailings on average each month (e.g. October was stated as 45500 tonnes of tailings and 1427oz of PGMs) 2. The processing capacity at DCM increased to 75000 tonnes per month during the BR process 3. DCM is producing around 15k-17k tonnes of chrome concentrate per quarter in Q2 and Q3 2017 (or approx. 5.5k tonnes per month) What I can�t find is any recent mention of the throughput of tailings at DCM. But working an assumption it�s running somewhere in the region of 50K tonnes of tailings per month (i.e. 2/3 capacity), it means JLP are getting are getting 1 tonne of chrome concentrate for every 10 tonnes of tailings. This seems very high, and not being an expert in chrome recovery I�ve no idea if that�s a realistic figure. But if JLP are processing 50k tailings per month and the PGM content is similar to Hernic (only an assumption), then that means JLP are potentially stockpiling material with about 1,500oz of PGMs a month. As the project has been running for over 20 months now, that could equate to around 30,000oz of PGMs. From the Hernic figures so far JLP are receiving about $760 per oz of PGM concentrate with a cost price down to about $400 oz, giving $360 per oz profit. Applying that to possible DCM PGMs, that gives a stockpile worth a possible $10.8M profit (�7.7M) However, many unknowns in this. It may be possible the recovery rates of PGM are not as good as at Hernic or the costs are much higher, hence the board are in no particular hurry because there isn�t much profit there. But its also fair to say that the Hernic recovery rates and profit margins are not that impressive yet and will hopefully improve. DCM may be better, or may benefit greatly from experience gained at Hernic, so there could be a lot more PGM�s and/or profit than I�ve guessed at. Anyway, just my thoughts on the DCM project, grateful for any other insights/opinions to improve the assumpt