Member Info for moneyhawk

GG, I think that there will be many (inc myself) that have considered selling at a loss at some point over the past couple of years, its not been an easy ride! If it had all been completely certain, the mcap would have been a lot higher long ago. I'd say its still a bit of a gamble here, but now the gamble is whether or not the market will give us a fair value based on earnings (and future earnings potential), and not whether the strategy is going to work.

Looks like the slow motion re-rate is back on track

Some nice info in there, its a pity the RNS didn't contain some more figures to help investors understand the deal better. I appreciate that they're a little restricted in what they can and can't say, but I would have thought some simple statements would be ok, along the lines of "this deal will contribute estimated additional earnings of $800k a month and an overall NPV of $85m based on current chrome prices and operating margins"

Thanks for sharing, all good stuff. What they seem to be saying is that the hernic purchase will pay for itself within 2 years, since the majority of revenue will be profit (as we’re already incurring the costs in the pgm process) So although the price was high, it is a very good deal and adds a lot to the bottom line.

Yes an interview might help. What LC really needs to get across is that what we’re going to make from this is a lot more than it’s costing. I can see why there’s not been a stampede coming in today, as it requires quite a bit of joining the dots to understand its earnings potential.

I think what would help here would also be a bit more info on the future earnings for us as a result, along with the funding.

Looking at our 2 chrome acquisitions this year, platcro/Windsor cost us £8.6m with 75k tonnes a month processing capacity. Hernic with its 50-55k capacity has cost $16.4m to take full ownership. The two aren’t directly comparable, but you’d be forgiven for thinking we’ve either overpaid for hernic OR platcro was an absolute bargain.

I don’t really expect more clarity from JLP. But the revised assessment from shard that’s expected may throw some light on how much it’s worth in terms of future earnings.

But this is a huge step forward, in the past few weeks we’ve committed to acquisition expenditure of about £20m, and no mention of placings to fund it.

The bit in today’s RNS that refers to PGMs is just a repeat of what has already been announced. You need to look at the headings.

The ‘tailings agreement’ is what has already been announced. The ‘exclusive agreement’ is the new part for today.

Great news!

This bit I liked most of all:

" The total consideration for all the chrome contained in the historical tailings is approximately US$16.39 million (at current conversion rates), which will be majority funded from Jubilee's existing cash and operating cash flows, together with project funding as necessary. The total consideration will be settled in three tranches, each 30 business days apart. As previously announced, operations at Hernic are now known as Inyoni Operations."

BB, it depends what someones expectations are. If they're expecting to see £10's millions profits for the past year, then yes the results may not be impressive.

I'd hope that following the last interim's we have finished the year also in profit (by a modest amount). But a lot does depend on what has been accounted for, and when/what costs have been incurred. However, I wouldn't be surprised if we see a very healthy cash surplus in the results, the funding for kabwe/sable was raised prior to year end with the placing and debt, but with little expenditure until after year end.

Main news that is definitely expected shortly is the audited annual accounts. Perhaps it’s the auditors ‘friends’ buying in?

Bb, a large majority of our outstanding warrants are at 6.1p, so there’d have to big a pretty big rise to see those exercised. Be nice if we could get there before Christmas! But happy enough for a slow steady rise though.

I wouldn’t be surprised if hernic are trying to drive a hard bargain on the chrome. The problem we have is that they now know the chrome tailings are worth more to us than to them, as we can apply our fine chrome process to extract a lot more. But it’s a nice problem to have.

Completely missed the news yesterday, I wish they'd stop with the late afternoon RNS's!

But is indeed great news. I wasn't that worried about Hernic's PGMs earnings dropping to 30%, as we have other earnings streams coming in to more than compensate for that drop. But to now keep 100% going forward adds a good amount to the bottom line, and above what was expected. I should think a deal involving the hernic chrome will be coming up shortly, but perhaps some haggling going on over the price and/or future earnings split.

Brom 14.45, its the same on most bb's, few seem to understand (or choose not to) that its not intended to be an update with filled with new information . Although I've found this one useful, have tuned out a little bit, so its handy to have the quarterly report summarising the last 3 months, which i guess is the intention of the reporting requirements. Same thing happens with annual accounts, bb's get filled with comments complaining that its last years financial information and nothing new

I don't think that Icewine 2 was ever given a 50% CoS in terms of the industry standard calculation. DW referred to icewine as a 50/50 chance, which isn't the same thing as a 50% chance of success.

Ivans, said poster has been on here ramping GLR all the way down from about 10p, and is now trying to tell us all is great because they've risen 0.1p above their last placing price. Maybe a good time to invest in there now/soon, but still a few too many unanswered questions about star zinc for me. In the meantime, we continue to increase production, revenue and earnings, and we'll continue to do so with or without the extra ore from star zinc.

That's looking ok, A$10.1m cash and estimated cash needed for this quarter A$1.6m. Leaves A$8.5m going into Q1 when we have a fully funded drill.

Still holding here btw. A bit less enthusiastic now, but purely because I think DW's limited in what he can do until after charlie 1 next year in order to preserve funds. Seems to me from the quarterly he's doing that.

P14, don’t think we’ve ever been promised monthly updates. Although they’d be welcomed, I’m doubtful that we’ll get much of a separate performance update for Windsor PGMs now we’ve got confirmation it’s all up and running. More likely production there will be combined with hernic for group pgm production going by the approach for chrome production reporting.

Audited accounts due in the next month, so would be surprised to see much of an update on anything before then, unless something significant occurs.

Interesting coincidence, would be great if after all this time some progress is being made to unlock tjates value. And at a time when we’re no longer dependent on it for our future prospects.

Thought it was likely GLR would have another placing before star zinc is up and running supplying ore for Kabwe, but didn't expect as low as 0.4p. Or for the funds to be for licence application costs, as that's what they raised funds for last time and still don't seem to have made the application. They do mention both star zinc and ka****u, although I'm not sure how far the £500k they've raised will stretch for both those projects