Member Info for moneyhawk

Strange how someone who is trying to tell others this is a disaster and heading for 2p would keep holding. If I believed I’d see the current sp halve, I’d sell. But each to their own.

Ok, don’t really follow the glr board that closely and guess we’ll just have to wait and see what the situation is. I just remember the amount of times CB told us the tjate licence was about to be granted before it actually was, so always take his comments about licences and time scales with a pinch of salt.

Hi topcatz, I was under the impression GLR haven’t applied for the licence. Their last couple of placings have been to pay for the licence application, but so far there hasn’t been any news on it. Would be very unlike CB not to announce an application has been made.

Always looks a bit suspicious when share prices jump that much for no apparent reason. Possibly good news has leaked, maybe that they have actually applied for the mining licence, or maybe we have agreed an off take agreement prior to the licence being applied for.

On the other hand, may just be a pump and dump pre placing. Has been a while now since the last one, and they don’t seem to have done much since then.

Been a while since we've seen this thread title used. Often a sign that good news is about to be released and its a good time buy. lol

I’d assume BP left it after finding the oil as it was remote from other sites, they didn’t have the benefit of modern seismic to see what was there, and they had enough going on with other discoveries.

And didn’t I read this morning someone saying there was no interest here? 10% up on a day when no ones interested isn’t too bad :)

Looked at SLPs revenue figures, and the actual basket price they’re receiving for 6E PGMs is more like $1,025 per oz.

So not that different to JLP, just need to do a bit of working out to compare the two.

But is a good update from them, and looks like great timing for our increased pgm production through Windsor.

SLP report on the full value of the basket price for pure PGMs, not pgm concentrate, JLP report on what they actually receive for the concentrate.

I haven’t looked at SLPs update today, but normally the SLP basket price quoted is wildly different to what they have received per oz when you divide revenue by ozs produced.

PMO will earn 60% of the western block of acreage, and the block is about 40% of our total acreage. Plus PMO have the option for 50% of one of the two remaining blocks if they pay for 3D across the remaining acreage that doesn't have it.

But only for conventional oil, excluding the HRZ which we retain.

Tjate probably is viable on today’s basket price. But the problem remains that it’s far too expensive for us to develop, and anyone in the market for a platinum mine could no doubt buy an existing producing or mothballed mine for less than tjates development cost. Add to that, the current basket price is only so good because of recent rises in palladium, while platinum itself remains quite low, which is a risk for developing a new mine that would take years.

So until those factors change tjate remains of little value to us imo. That could change, but don’t think it’ll be this year.

Just noticed some new pictures for Kabwe on the JLP website. The 3rd one looks rather like a copper cathode plate, dated Nov 19.

Keefy, depends how you look at it. We've been told its applied for, we've never been refused a permit to drill (as far as a know), its just much a routine matter for every drill that takes place. So it'll be significant and price sensitive if we were refused the permit, but receiving it was pretty much a foregone conclusion.

Probably because it only confirms everything is on track, which is nice to know, but it doesn’t give us any significant news.

Seems an ambitious target to stop sales of all petrol/diesels and hybrids by 2035. Just 15 years away.

Electric cars are undoubtedly gaining market share and improving all the time. But the problem does remain on how practical they’ll be for the majority. It’s ok if you have a driveway to park on and charge up over night, but a very significant number of houses/flats in towns and cities won’t have that. Can you imagine the problems if you arrive home at night to find someone else parked on the road outside your house, how are you going to charge the car up? Not to mention the amount of cables there’ll be running across pavements!

Maybe we’ll see much faster charging in the next 15 years? But cells seem the simple answer to those problems, although aren’t as widespread at the moment.

Personally I doubt a placing would be required for Kabwe funding. End of year accounts to June 2019 showed £18.8m cash which should be enough to cover the costs coming up for Kabwe that will exceed our earnings. Would be wrong to completely rule out the possibility though, circumstances are changing all the time. The work for the copper/cobalt wouldn't have been budgeted for originally, and then implementing fine chrome recovery at Windsor and Inyoni will need cash. That doesn't have to be done now, but this could be the right time to do if chrome prices are at the bottom of the cycle.

Then of course we've always got the possibility of another acquisition....

I don’t see there is a particular problem with comms or the BoD in general anymore. Comms have improved (now more consistent), and placings that have happened have been used directly to buy assets and add earnings.

Net result - SP is up about 100% on this time last year and mcap up about 150%. Not bad growth in 12 months.

So it’s down a little intra day, only a problem for someone looking to day trade big rises and falls. The BoD have been pretty clear they want to attract large investors, and longer term growth than just one day rises.

Everything looking good, with the headline figure of £8m earnings for H2. So at the current rate we're at £16m earnings a year, and still ramping up current projects with Kabwe yet to come on stream.

Also first real news that we are producing copper, and cobalt definitely being added into our basket in the next few months

Seems to be someone very upset with BMR watch more than anything else. Sure there’ll be a reason for that, probably not contained in the posts though.

The last time we were given the chance to take part in fundraising, most turned it down and DW had to do a placing anyway.

We’d need to add some pretty significant projects to get to that kind of mcap. Currently best case scenario from all our projects combined (and fully developed/operational) is probably about £40m a year profit. So on a conservative/realistic pe we’re talking about a mcap of £250-300m.

But we do know the intention is to add more projects and grow, we just don’t know how big those projects are and how fast the growth will be.