Member Info for Moneyman64

Lloyd’s has not performed well for at least the last 16 years -still waiting for the dividends that were suspended during Covid although profits not materially impacted.

Now we have years to come of “the car finance scandal” compensating people who couldn’t be bother to shop around for a decent car finance deal

Thanks Mike -very clear that Karo’s viability is totally dependent on the recovery in PGM basket price and that the feasibility calculations used a high PGM basket price compared to historic norms

Something cooking here -let’s hope this time it is more than Colin’s steak and kidney pudding

Bushy loves to state how the shareprice here has fallen.

In the interest of clarity HUM was 41.5p in July 2020 -now under 9p —pretty much exactly the same performance as Jubilee-

Fingers crossed for some share price boasting news

The “Bushy’s” are very strange -all they do is ramp HUM and trash Jubilee -guess everyone needs a hobby

My main concern is the profitability calculations for Karo were done on the basis of a PGM bubble price of $2160 for Karo -historically very high-now virtually halved and the cash Pgm price of production at Karo exceeds $1000 per PGM ounce which seems very high.

What can be done to reduce this cost by a significant amount per PGM ounce to make Karo viable if there is no material recovery in the PGM basket price

One big question remains -why did Bmn carry out suitable due diligence to ensure SPR were good for the funds they pledged -day one lesson in corporate financing-schoolboy error by Craig and the BOD

The share premium account can normally be used to wipe out/reduce an accumulated profit and loss defecit

Agree -Tharisa have been totally stitched up on Karo -all the risks and only a cut (which could be cut further ) of any rewards -it was very short sighted to commit shareholders funds to this project based on an highly inflated PGM prices -why didn’t they pay some decent dividends to shareholders/buy Bach shares instead of destroying the shareprice by this foolish high risk venture- cash PGM production costs circa $1000 per ounce is very expensive for open pit operation

If I was a Glencore shareholder I would want to know why for years they could not care less about a very significant interest in a huge World class asset.-it makes no sense commercially to sit on this asset for another few years

Perhaps Glen needs to do some deals to boast their shareprice-any ideas?

Thanks Mike

Quick question -last year gross profit percentage was adversely affected by large amounts of chrome material purchases due to problems processing own material.

Has this continued this financial year or has the company reverted to mostly processing its own material -big impact on profit?

Sticking to my 12.5p end of year price target -we shall see.

Was 100% correct-Bushy bot deramping mchine in full swing-so boring and predictable every time RNs published

Bushy and co will not be happy!

The WPIC have been “Bigging up” huge platinium deficits for months yet no sign of the price moving up.significantly-in fact in free fall today -palladium too!

Tharisa CEO on you tube today (see JLP board)

Worth a listen too but does seem to state future of PGMs prices reliant on hydrogen economy taking off and defiantly not positive on palladium..interest rates need to fall and economies recover

All this debate has achieved is to wipe another £12 million off the desperately low shareprice -now an obvious bid target or to be taken private .

Common on Bod it must be time to spend a few millions on share buybacks -£10 million is a very small number in relation to the overall financial position of the company and would do wonders for the shareprice -and please don’t say this is not possible due to Karo -it clearly is

Strange the company are not responding to these points.-they usually address shareholders concerns

Perhaps they realise they have completely messed things up committing to Karo on the basis of a “inflated bubble” PGM price of $2160.

Shame they appear determined to continue to flush shareholders funds away on Karo -surely they should.have diversified into another metal with a more certain future -copper perhaps