Member Info for NelsontheDog

Hi Gallmat

I mentioned the GoR element as you rightly raised the impact of stalling - would the GoI be responsible for any delays prior to the formalisation of the claim process as until then the negotiations and communication would have been led by a different entity - I would assume no, but Im no expert. From your reply, did Mark intimate that GoI were responsible for the actions of another prior to the formalisation of the arbitration process?

In terms of actions and strategic moves, there is a nuance in that it is the GoR (Rajasthan) who forced the dispute. GoI is left holding the baby as the trade agreement is with them. I am not sure how that would fall into delays Gallmat but I would certainly be interested in the view of Mark as to how easy it is to correlate the actions of both the entities together.

Whilst i mention high figures (i think its important to view the possibility, my personal targets are much more modest - I am fortunate to be in profit on all but one of my tranches bought here and dreaming of being propelled to the stars is okay for me on the basis that I have my feet firmly planted on the ground.

My own investment rules will force me to slice much earlier, but I still intend to keep a good holding till settlement - hopefully the coming SoC allows de-risking for those who like to trade that way.

Apart from the greed fueled excitement, I (and I think a lot here) am genuinely curious at a technical level to see how the SoC is approached - so many options but only 1 will be put forward - its whether we get to see the full details on this that I am unsure of.

Gallmat, looks like you've been infected by the starts with a 4 or more optimism now too! I dont recommend it - its not good for the nerves.

Blatant speculation off a wobbly foundation here but if it transpires the claim is $4bn+ (maybe even start with a 6 - my infection is now raging) it will cause a stir the general investment world which could not only drive demand for the shares and a good rise, but those big numbers and the subsequent scrutiny on GoI could also break their stance. Generally the worst possible position for a public servant or elected official is to be under scrutiny for something that could cost a fortune due to past decisions - that could potentially move the GoI to look to mitigate the worst case via a settlement in a quick manner to make this go away. Public sector careers are easily ruined by being caught up in a big costly mistake and the tribuneral means there is no more kicking the can to the next persons watch.

I know we have a month potentially to wait still but gold price looks more likely to rise further than decline and thats not a long time to wait in the scale of things.

I haven't paid much attention to this Chester - thanks for raising. A possible reason for the delta could be in relation to the surface rock purchase. If we have made payments but as yet do not have title, they may have been described as capital spend in comments - as they will in the future become that, but for accounts would need to be classed as pre-payment as without title to the asset, they can't as yet be capitalised. Just a thought -I haven't ratified this with any research myself.

Im very happy to see the FD made permanent - I am guessing that he is the hand steering the decisions to find alternate funding approaches rather than raises - its welcome and along with near term improvements should at last put an end to the constant raises for any project - a real boon for sentiment.

I am optimistic in the near and mid-term - fruits of a very very troublesome labour will hopefully be a bouncing lift to profitability daily run rate.

*I like the odds and will wait.

Roughly 10p - 50p.

The claim size is the whole knows element - other shares have been around 3-5% of claim size for mcap but who knows?

We are still under the radar so I think the bigger the claim, the more publicity leading to a higher share price. But who knows and in this illiquid market it’s very hard to tell. If we rise I will slice, but I’m in for the long haul personally - unlike the odds and will wait.

Razza,

In a world of increasingly authoritarian governmenrs, the opportunity for people to have a governmentless, neutral payment and financial system that cant be controlled by any such entity, is a good long-term bet. Therefore those decentralized platforms upon which unregulated exchange occurs may be a very good buy.

Which tokens win - thats another matter but the concept of decentralized internet makes more sense today than it ever has imho.

GL

NtD

If the deal is for $18m and we haver already paid $6-7m then presumably the deal is done on the wider terms anyhow but not entirely clear.

Large entity processing seems good business to me and fairplay to Leon on this.

Our results are now past and there is the chance to lead comms from here on an upward trend - good for GR's oft cited SENTIMENT but that sentiment will take a while to bear fruit - I just hope JLP can sustain a controlled period of positive comms only for the next 12 months or so - its within their gift to do so.

Look forwards and this is a great opportunity, so, lets do that.

GLA

NtD

Looks really positive to me.

On face value I thought he is trying really hard not to need to raise for this deal - 6.75m off of tailings (though I didnt spot the "valued at" rather than sold at) and if i read correctly a 12 month period in which to pay - that would smooth the profile to allow uptick in cash from copper to fill the gap - hopefully Leon will address this on the call - just trying to avoid the dilution effect is positive compared to prior shoot from the hip share issuance imo.

It would be good to know the costs required to get it producing in addition to the purchase but small steps and all that.

The 24 month development plan is now full and top marks for Leon for this - now we need the wider team to execute all this expansion well and not expose him to further job risk - the copper forecast driven by the projects is now key to aligning JLP to the big task still at hand.

Share price may rise a little on this RNS but if JLP can confirm they are trying not to raise for the deal and a copper forecast that isnt pathetic (that is based on Roan high grade feed), the share price could actually bounce a little imo.

I would prefer JLP to gain a loan based on the value of the SA business and use that to secure the OpenPit project itself whilst also focussing on Copper expansion. Not too many projects though - finish some before you start too many more.

If and when copper starts to ship, the loan could be paid off pretty sharpish.

There is a monster of a business lurking here and I dont therefore see the need to sell the steady bit, rather take a loan on it to create more.

I am surprised however that we arent coming under scrutiny for a takeover - as you say, what value SA alone and the removal of future copper potential from the share price - for a quite long period of time now is creating conditions for a corporate raider / hedge fund to fill their boots imho.

If Leon loses the obstinate bull headed gene and gives up copper, what has he got left! - and its one aspect of Leon for which even I am thankful. After we have dropped nigh on $100m into copper project, giving up because the first few batches are teething, before we even crank it up properly just seems the maddest of mad - why would you propose dropping copper now?

Rodney Atkins song - If you're goin' through hell keep on going, Don't slow down if you're scared don't show it, You might get out before the devil even knows you're there.

At this stage all JLP can do is keep going, dont slow down and try not to show youre scared - although Leon was off his game (and little wonder) on the last Roast interview - I think h knows the devil knows exactly where he is.

But if he does get the push, someone could be gaining the exact opposite of a hospital pass - If we compartmentalise the business - South Africa is in a really good position. Massive Chrome expansion was delivered seemingly without hiccup or issue (not quite true but looking back is always rosier).

Copper - we are led to believe we are so close - Feed ratio almost all on the good stuff for Roan and Sable able to produce - yes expansion needs to keep coming but there is a platform that should be visible in the forecast for copper.

I agree Dorfan the Chair and others seem weak in supporting, but maybe they were selected or have survived in post due to their meek approach?

Yes - I am guessing the two large new bits of business being pursued may lead to additional capital /working capital spend if won, or there is another acquisition being brewed. However a token 5% rise could have avoided the negative - surely a price worth paying?

Meantime this share is now cheap - very cheap. Just probably not the market to realise this at present. Give it 9 months and hopefully money returns to markets and a better backdrop will be in place.

I dont like this demanding an apology - its crass and on a Trumpian level in terms of neediness and also showing you were bruised by a little heat towards you in my view. I try to act on the board as I would expect others to act towards me, not reacting to others energy - negative or positive (cant resist a Mikie post though). I dont expect any acknowledgement for my future predictions coming true - they are assumptions and woolly at best in terms of guessing the outcomes of deals etc and really just my sharing is good for my state of mind and I appreciate the wider views.

Even in that reposted GotReal post he points out the RNS line - thats good contribution to the discussion - its not his failure - its JLP's.

The purpose of the board for me is to gain info but also a bellweather on the sentiment of holders - GotReal may be a bit fruity in his wording to others but the content is often useful to me. He doesnt need my consent to continue posting and probably scorns this touchy feely waffle in this post but everyone has a poison and is exposed to it now and then - lol.

AtB

NtD

Next years Copper outlook needs to be in the region of 10-12000t from Sable and Roan as a starter I think with more to come as Sable expands and other projects (Leaching) add to forecast?

I say next year as only 3 months remaining in this full year.

He didnt sound as bulletproof today I thought. He didnt fully answer but it hosts said its JLP throwing money into the rock project - each time we have an announcement the number is lower - I think $11m this time. I really hope he doesnt raise to get the rest and go it alone. Surely there must be other options rather than share issuance by now? The South africa business is fully capitalised and running great guns - could we loan for the remainder rather than raise?

So it turns out the delay to results if caused by anything was to allow them to drop IRH (on about page 40!) without any much ado. I recall on this board there were excerpts from Leon chatter at the AGM that IRH were asking for loads of DD and its from there that my view that IRH was not going to happen. It could be that they were an absolute swine and slippery, or it could just be that in order to protect their investment they require clear comms, information on the JLP business and an expectation of professional standards. How many of us in business have had tricky. slippery customers / partners - you suck it up and get the right people in place to make it routine.

Outside of that, I am not concerned by the copper "margin" - it needs to hit a prolonged period of steady state before anything wirthy will come - and unless the sky falls in, metal eating locusts attack or some ohter as yet unknown occurs - this will come good now - we need what will be a low copper forecast to add to this (I will take the need to wait for this at face value - seems reasonable). South Africa - Steady and good.

As ever the reporting is delivered with a churlish timeline, an unclear report of what happenned - especially in the areas that went wrong and a lack of much on which an investor can truly assess the future.

IRH kicked to touch does not bode well for our status in Zambia (which is pretty good anyhow but wont be enhanced) and also I believe when added to a chaotic picture, or lack of a icture from Zambia probably puts Leon at peril from more than just the lowly likes of myself. We will see in the next month or so. A change at the top would probably add 50% to this share price imo.

3Card, JLP RNS history would say both, plus a confusing good news message that doesnt land well first time.

I would always prefer news to be seperated - ie give the result, and then add any good news, or indeed any news as it is ready to be distributed.

I suspect the delay is to do with the IRH deal but thats a guess and I am fairly relaxed about all news other than the Copper expansion news and associated copper forecast. Hopefully not long to wait - for results an update on IRH and guidance on leach capital costs.