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Biglad6 and Gecko - spot on . Good luck to those that bought in so low as you rightly say Ndn71 it could have changed peoples lives . However , unless we are being lied to , the sale of this company remains a strong probability and even if that fails to materialise whats in the ground does not vanish . Rose tinted glasses ? No ! Just comfortable with why I chose to invest -and add after the totally unwarranted panic.
Really positive RNS showing potential for some significant qrowth in the SP . Looking good on a number of fronts and it will be interesting to see how the BOD take this forward .
Excellent idea to follow this RNS up with some PR / webinars which will presumably hinge on how quickly they can bottom out the optimisation and conclude the PFS .
Any views on this and whether we can expect a Broker update after the PFS ?
Thanks for the comment and insight on the RNS , Right On .
Today's announcement is a game changer in my opinion and I cannot understand why the SP has reacted in the way it has - its a little irritating to see your profit diminish during the day but that should be temporary.
It is an exceptional deal and at these sp levels presents a very good buying opportunity before the share price gains momentum through greater news flow and the significance of this deal manifests itself. Better than MTR's deal with Sandfire when they sold their share of MOD ( namely T3 and A4 domes ) although A4 was not as prolific as now discovered when MTR did that deal . Check out MTR's mixed progress since - undervalued like GLR but it also spreads itself too thinly over numerous little investments and has a habit of " pawning " its Sandfire shares to raise cash. Hopefully GLR wont go the same route.
Added some today but do not expect to see it remain at these levels for too long as I think CB has structured a very good deal for shareholders with a well respected and capable miner in Sandfire.
Ella10 who is Joakin Chewe Chelelwa ?
If I remember correctly , the Directors only sold those shares that they were awarded in lieu of salary and also sold to a new major shareholder . Notwithstanding that , they deserve to reap some reward . Once we get some stability and news this will recover. Does anyone know when we can expect some news ?
Also , I have seen comments about Colin Bird which are not that complimentary , not in relation to JLP but other companies .
Not sure whether it is warranted or not but I have just listened to him talk about the deal he has done for GLR which is pretty shrewd and he appears to have been good for JLP although I accept LC has been the driver and leader .
Will the Star Zinc licence grant for GLR be materially beneficial to JLP ?
Thanks .
First looked at this when it was struggling but lacked the courage to risk it . Wrong call.
Got in at 5p and been adding since , including today on what seems an unwarranted pull back .
Not only are the fundamentals good here , including the management , the growth opportunity is excellent - think of all the tailings ( waste ) from mining that could be processed and it will be as the natural supply runs down . Exploration , discovery , proving , financing , building and operating are all huge hurdles to overcome . JLP dispense with so much of that .
Cant understand the drop here today but then a lot of PMG stocks are down by a similar amount.
Encouraging words Right On . Thanks .
At least we now have some firm indication of timing and dialogue. It will be interesting to learn of the Navarre Creek assays , although that is not the main prize in the portfolio . As it happens I bought back in today !
I am anticipating a decent , not spectacular , RNS , based on previous recent announcements . However , I am still concerned that the Company are not communicating effectively , as I have posted before . In this respect Stanley’s posts are spot on .
I just cannot understand why RO has to be the ambassador for the Company . It is to his credit that not only does he do that but does so in the face of some unfair criticism that is borne out of frustration by other shareholders .
On the recent rise I sold out completely . I had got to the point of put up or shut up , so decided to exit . I have deployed the money elsewhere
which is showing a very small loss but I am sure it will come good .
PXC is still a very good potential investment , albeit medium to long term for substantial returns .
In that respect I will continue to monitor with a view to coming back in .
The BOD are fortunate to have RO on this board , as I am sure without his input a lot more Pi’s would have sold up . GLA.
Not totally agreeing with either 2Daman or MTS but both have some very valid points . Below is the opening part of my post of the 3 Jan regarding when the PEA was due .
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Thank you for your reply Right On . Notwithstanding what you say about precise communication I still feel that the situation is vague . At this point in time no one knows when this PEA will come . I had not missed anything because in definitive terms there was nothing to miss !
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Since then the situation has not improved as all that we have had is the explanation from RO regarding the layers of complexity and thinking that are going into the PEA . I am not going to criticise or judge RO for that . It is the BOD who need to grasp that they do need to communicate and in a clear and effective ( simple )manner . Commit to something and know you can deliver .
MTS is spot on with his questioning of the failure to deliver the PEA on time.
Surely with the dialogue that RO has had with the BOD ,who you would think see these posts, they would announce a delay or new date , not let things drift with the attendant speculation and uncertainty . Particularly in a share with very little institutional shareholding and liquidity and where the retail shareholder can make an impact !
Lets hope the BOD and RO prove us all wrong .
I have been invested and disinvested over a period of time , having been unconvinced that a sale would happen . However , following the recent RNS ,updating the FSP, I am reinvested as I feel more confident that a deal will eventually take place and having read recent posts wanted to express a view.
The Directors have a vested interest in maximising value , which will be to our benefit . From the RNS they are clearly doing all they can to achieve the right deal . It is obviously complex and may be too big for one purchaser . Nothing can be certain but the BOD are giving it their best and my view is that there is a greater degree of probability of a deal being pulled off than some months ago.
Perhaps I should have held onto my original , cheaper holdings ? Not one for looking back and I made the decision for what I believed to be the right reasons at the time. If this stays at its current SP levels I will add using funds from a gold explorer touted as the next GGP ( I have been and still am invested in GGP ). The trouble with the GGP pretender has been poor communication , lack of director investment and slippage on delivery of key milestones . Not seen evidence of these with EUA.
So , in spite of the Mr Negative , I am for the first time comfortably positive that investor patience will eventually be rewarded here . Having said that, please DYOR and make your own decision to suit your circumstances and objective.
Added a few more today . Some good positive posts here and an understandable small pull back in SP presents an opportunity . GLA.
Bought my initial holding today . A little higher than I wanted but that will seem cheap in the coming months and will look to add as appropriate.
Hopefully the news flow will continue to some degree over the rainy season . Money will be required in the near term to advance some of the potentially large projects.
GLA.
Thanks ooahcantona . I did take that from the lse video and yes suspect there will be a call for cash ( from somewhere ) in the near term . That won’t deter me as I think the prospects here are very good .
Hi , considering investing here as it looks an exciting prospect . Done some research but would anyone know how much financial resource / available cash the company currently has ? CCZ seem to have an extensive amount of potential to explore in mostly mine friendly Australia and it seems they may need to raise some more cash at some point . Not a real issue if as appears there is a lot to be added as shareholder value . Any guidance / comment would be appreciated . Thanks .
I am a holder here and in GGP . Not posted before as just observed the comments .
Having read the lively debate today I think ART123 makes some valid points , irrespective of his motive, and he has a right to express his opinions. That does not make me want to sell as a knee jerk reaction to those points, as the fundamentals of the project and funding remain . Unfortunately, at the moment ,the BOD are not making the best of those fundamentals -they have not made enough commitment to investing themselves and the drill programme in my view has not been properly explained to investors. Just be upfront about timings ( some of the delay must have been known about before the latest announcement ) and explain what you are trying to achieve and why . I do not think that is clear to many people . That is my take on it.
There are two posts from MarksNewNorm at 12:18 and 12:32 , the first of which is for me slightly optimistic in terms of no risk dream deal and the second hits the nail on the head in terms of how different GGP's situation is with OMI. So much fell into place for GGP in a unique situation. I only selected those two as a contrast and both having some balance to them.
As with 90% of these boards they should not alter your fundamental reasons for investing , that can only come from the actions of the BOD, major shareholders and drill results. Opinions on here may of course add to how people interpret those actions and information so it is good to have a challenge or endorsement .
As annoying as the delay is along with the debatable performance of the BOD , it does not warrant in my view abandoning the investment . Yes I would say that ,with the prospect of a small loss at todays SP but even if I were lucky enough to have bought in single figures there is too much potential upside to throw in the towel , even with some of the reservations I have and others have expressed . GLA.
An interesting article by Goldman Sachs on a copper bull market is available at Mining.Com , Jan 6th edition .
Nice to see a rise today .
Good to see some positive SP movement.
MTS, FallingKnife and yv00 all valid comments regarding funding . My guess ( it can only be that ) is the BOD are putting a lot of work into the PEA to ensure funding is not an issue and any share placing , SHOULD there be one , has minimal impact in terms of dillution. Yes , this is AIM and we probably all have our experiences suggesting that we are told one thing for something different to happen , even the next day ! However, there are some strong differences here , potentially large resource , mining friendly territory, possible clean and economic method of extraction , targeted revenue generation and experienced seasoned BOD. Whilst none of that gives any guarantee they are factors influencing the investment case and whether it is AIM or the FTSE 350 there are risks : for example , Carillion , Cobham , Petrofac , Sirius Minerals , Individor ....all mostly management failiure.
So for me , I see more positive outcomes than negative ones . If there is some dillution ,which is not certain , we may be given the chance to participate and it will in any event be worthwhile in bringing our investment to fruition. Furthermore, whilst I am critical of the BOD's communication ( or lack of it ) they know far more than I do about mining , resource evaluation and related funding costs . I am sitting tight pending the PEA and taking the radio silence and delay as a good sign . PEA day will however, be judgement day.
Right On , I was not aware of the cash input at a premium and of course he can choose to sell what he wants , when he wants and for whatever reason , as all of us can . I presume he fully recovered his premium !
As for letting it go , I have never done anything other than state what I see as an important fact ( historical as it is ). You cannot get away from the fact that it had an influence on the SP and it could happen again , as could a PEA that blasts the SP into orbit ! Its an opinion ,which is what I understand these boards to be about .
You mention that it has been a quiet period but we have had very positive announcements upgrading the resource which unfortunately have not broken the share price out of a range , something that I find baffling with , gold , silver and copper prices on sustained increases . I am sure the BOD are confident that it will all come good shortly and lets hope that transpires but it does appear to be an unloved share . Something I find hard to understand given the many positives that exist concerning the resource.
All that I am doing is looking at the facts and placing my interpretation / opinion for comment or not . Some comment may influence my view or show me a different perspective , hence my willingness to participate . I have no wish to influence anyone and I expect shareholders to make their own decisions based upon what they know and believe.
I do not think this thread will take either of us anywhere productive so suggest closing it and I will post anything I feel relevant at a future date .
The article on copper should give us all confidence that we are right to remain invested in PXC , particularly with the other PMs discovered .
Right On . All noted .
However , just to be clear that the only major shareholder I know of to have sold is MrHughes and my comment was in the context of his having sold and for all we know could continue to be selling - we would not know unless he breaches the TR 1 percentages . Beyond that ( being what has happened and may or may not be continuing , which hopefully it isn’t ) I have no other knowledge and nor am I speculating that anyone else other than Mr Hughes may be selling .
CEO of Glencore , quote below :
"Turning specifically to copper, he noted that mining companies are going to have to go farther afield to find it. “There’s limited shovel-ready projects around the world for new copper mines,” he said. “The world has a challenging task to meet this new demand and it’s going to have to go to new geographies, it’s going to have to go to new locations where they lack infrastructure, and you don’t have the mining expertise in those new areas.”
Commodity analysts have already been forecasting shortages of the red metal. In a Dec. 20 research note, analysts at Bank of America Merrill Lynch warned that “copper mine supply has been virtually unchanged since 2017” and said they expect “a global copper market deficit in 2021.” The analysts noted that mine supply growth “has been low in recent years, as miners had cut back capex since 2012/2013,” and the situation has been exacerbated by slowdowns in production in major copper producing countries Chile and Peru.
Copper metal for three-month delivery on the LME in mid-December reached a seven-year high at US$3.62 per lb. (US$8,000 per tonne). “Copper has in our view the strongest fundamentals going into 2021,”
Copper has, in their view, "the strongest fundamentals going into 2021,”
Thank you for your reply Right On . Notwithstanding what you say about precise communication I still feel that the situation is vague . At this point in time no one knows when this PEA will come . I had not missed anything because in definitive terms there was nothing to miss !
I don’t think it is bitterness on the part of MTSparky , just a combination of frustration and not being able to properly assess what we have invested in , given the context of major shareholder selling , visibility of financing ( aside from a reluctance to dilute shareholders ) and apparent lack of investor interest in a valued mining asset . I share such concerns.
That doesn’t make me right or you wrong .
Sentiment plays a big part on AIM and markets generally and to some degree wherever you invest on AIM you will get some or all of these concerns .
In the case of this share , I am generally more relaxed because of what I believe to be in the ground and I know by comparison to some AIM companies PXC appears to be one of the better ones . I will still remain vigilant - I would prefer to be a fraction of a genius than a total mug - and make enquiry of this board . It’s a sensible balanced forum not frequented by too much hype or doom.
For your part Right On , I think it unfair for your insight and efforts to become a target as you are only stating your opinion based upon the facts and information that you have taken the time and trouble to put together . Not everyone though , myself included , will see things in exactly the same way . For the most part I am reassured by your views .My holding is not huge but it is meaningful and something I want to see build over time . As with most AIM shares the fall can be swift and brutal and based upon very little logic or substance , hence the caution . So I am holding , rather than adding , for the time being but with a watchful eye on news , shareholding movements or informed opinion .