Member Info for moneyhawk

I'm not sure what that would achieve rfarfa, I'd expect the only response DW would make is to say that information on the company's finances is a matter for regulatory announcements, which he complies with.

My thoughts as well TBTT. There's been no mention of copper tailings from LC, which leads me to the view that we're more likely to be processing fresh ROM ore. And after all, that is what Sable was set up to do, and it seems we're just using the existing plant for copper.

Since most/all large operations will likely have their own processing and refining facilities or existing agreements for processing their ore, I think we can assume that the source will be from multiple small scale mining operations. Therefore I'm not really expecting to have any RNS to tell us the source, just the same as Windsor, where they've obviously come to the view that its not RNS worthy to detail all the sources of ore being processed.

If those forecasts for materials needed for car batteries come true, there will be other knock on implications. Only a month ago large parts of england and wales had a major blackout because of a pretty minor issue with the power supply. With a big increase in demand from ev's those problems could just get more frequent, and I doubt the UK is alone with needing to upgrade power grids to cope.

Increased demand for copper to upgrade power lines could be one effect. Maybe large scale vanadium redox batteries will increase further to enable greater storage of energy to cope with the demand. Maybe there'll be a greater and faster switch to fuel cells if the power grids can't cope.

So whatever way it goes in the next couple of years, having copper, cobalt and vanadium to add to our PGM portfolio looks good for the near term future.

DW has consistently said that we have parties interested in the HRZ, but a big unknown is whether those parties would still be interested if we'd farmed out part of it with the conventional to PMO.

We'll probably never know the full details of what bids were made or the matters negotiated on. It may be possible that in the short term we could have got a slightly better deal for the conventional if the HRZ was included, but then we wouldn't be able to farm out the HRZ separately. And so longer term it may not have been a good deal that maximizes the value.

It seems to me that this is still very much a case of wait and see, which is where people get frustrated. And it does appear to me that there is a lot of new information on the HRZ that hasn't yet been released. Most notably the revised fairway and revised resource estimates.

They must have a fair degree of confidence that the revised HRZ fairway extends under Charlie 1, and have got PMO to pay for drilling to that depth as part of the deal. That would appear to be an additional cost to PMO that they will not benefit from, and so we must have a very good reason for that being part of the deal over something else that we might have been able to get from the deal.

Brom 9.23 - Re splitting WI rights on acreage, there's been a recent example of a similar thing with the proposed(rumored?) shell acquisition of Endeavor.

In that case the transaction was expected to be around $15b, but the founder of Endeavor wants to retain some rights for undeveloped oil on the acreage. So valuation reduced to $8b.

Not entirely the same situation as us, but the principle looks fairly similar. In our case, the retaining full ownership of the HRZ underneath the conventional could be comparable to the Endeavor founder retaining some rights when he sells the rest.

But I should imagine any deal of this kind would require some fairly complex clauses to clearly define what is and isn't included.

https://www.bloomberg.com/news/articles/2018-12-17/shell-is-said-to-eye-deal-for-endeavor-energy-as-price-tag-drops

Johan, yes platinum is traded on etfs, and just like all commodities it’s price moves up and down daily as it’s traded.

Share much the same thoughts for charting on small cap companies without huge volumes, but feel it’s far more relevant to commodities where there will be a lot of trading decisions based on charting and trends. Seen a few articles recently that give a similar resistance level for the platinum price, so it is possible if those levels are broken it could go on quite a bull run.

Just my thoughts of course, I’m by no means an expert on charting and don’t pretend to be!

Interesting article from earlier this year, discussing the longer term platinum price.

https://investinghaven.com/commodities-gold/platinum-price-forecast-2019/

They believe once above $900/oz for 3 consecutive months the price target becomes of $1190 USD/oz, which further down in the article they say may happen towards the end of the year. IF that happens, then very bullish on next year with $1800/oz possible.

So far its on track with what they predicted, so its worth keeping an eye on it if the price remains above $900/oz over the next few months.

Possibly very good timing for us to be bringing windsor on line, and just in time to benefit from a big price jump by the end of the year.

8.07 - That has really hit a new low, and in case anyone was in any doubt about you, that has just settled any doubts. Its one thing to fabricate nonsense arguments to try (unsuccessfully) to discredit progress being made at this company. But to discredit charity fundraising and launch a personal attack on the character of someone who is doing a good thing is completely unacceptable imo.

Just done some rough sums on Milton's holding, I reckon their average is going to be around 2.6p for their investments made in Jan 2018 and March 2019.

So currently they'll be around 10% up, and have been around that range or higher since April, and not selling. They'd only need to sell around 180k shares to drop below the 6% threshold and trigger a tr1.

Milton manage numerous funds and have approx £5b of assets under management. To suggest their share price has fallen because they bought some JLP shares is one of the more ridiculous statements made so far.

Milton substantially increased their holding in March 2019 to 111m shares (6.01%), up from 34m shares. It looks like they are confident too me and can see a good opportunity here. Why else increase their holding by so much?

Miloh 9.27, yes I do agree with that, a cash raise is likely being factored in to the price now. So when/if it comes, we may not see much of an impact, and we may also see one of those rare occasions of the SP increasing as a result. It should result in us being fully funded to both drill and meet other cost commitments until well after the drill results, and it will answer the big unknowns hanging over us of how much to be raised and how many shares.

But the appeal outcome for the tax credits on 12th Sep could impact heavily on what needs to be raised. If the State wins and moves quickly to settle what they owe then we may not have to raise very much at all, and a chance we not not have to raise anything.

According to the RNS, it may not matter to us what the processing cost is. It appears we've agreed a fixed cost, so the onus is on Northam to maximize efficiency. If they do then they can make more profit, if its an inefficient and costly process they shoulder the burden since they've agreed a fixed cost.

"The JV structure and terms, which incorporate a fixed processing cost with associated earnings share, ensures that both parties are incentivised to maximise PGM recoveries and operational efficiencies"

Yes they must have been! As I said last night, its a good time to be investing in a platinum producer that is about to double pgm production.

The RNS says "The positive pricing environment for PGMs further increases the economics of this low cost PGM Project"

charttopper, initially it looked like it was only a few years life for this project. But the tailings containing PGMs that we purchased for this pgm project were the byproduct of the Platcro chrome plant which we now own (renamed to Windsor). Its now clear that we are adding to the material, and its not a one off fixed amount of pgm containing tailings.

Possibly more to come it seems. One for the chartists, if the price goes through a resistance level around $1030 we could be seeing a rapid rise to $1200+

Good time to be investing in a platinum producer that is about to double pgm production.

https://www.kitco.com/news/2019-09-04/Platinum-hits-1-5-yr-high-much-more-upside-room-to-run.html

Nice find Brom, seems a positive sign to me. Far from the company/staff being wound down to a skeleton crew that can only put out an occasional presentation, we're bringing in more skills and expertise to move forward with exploration.

Maybe not the most experienced and accomplished geologist in the industry, but how much would we have to pay such a person to prise them away from a major and persuade them to come to a junior explorer that's had a few setbacks in the past few years? Don't know the answer to that, but I'm guessing more than we could afford. This is an ideal situation for someone young, talented and ambitious to make a name for themselves.

Kalan, I do agree with that and will try harder :)

The objective of the said poster appears to be a simple, unsettle a few investors into selling so that he/she/they can accumulate more shares without pushing the price up until they've reached their target. Once they have, will go quiet again, very predictable pattern.

Working through the checklist? lol

https://messageboardfools.com/bashers.htm

And what consultancy fees are increasing? That's not what the accounts show.

From the last accounts
FY 2018 Consulting fees £518k
FY 2017 Consulting fees £847k

And do we think a strike would last indefinitely? The drivers don't get paid if they don't work. We've got plenty of material to process, chrome will continue to be produced, the worst impact will stockpiling material to be sold and a delay in receiving some revenue. Reporting is being done 6 monthly now, if it is affecting us (which is unknown) we probably won't see any impact at all in the figures.