Member Info for NelsontheDog

Hi Kalan,

My best wishes to you and your other half and obviously hope all turns out as well as it can do.

In terms of JLP SP entry points etc, imho, sometimes if you've identified the right bus, its better to ensure you are on it first and not worry too much in relation to what seat you take prior to that.

Wish you well,

NtD

Good Morning. I thought I would just add - even if Leon is "just an engineer" and focussing on technical envelope stretching to the detriment of anything else as suggested in the postings, this should not become visible to us.

So far the CFO seems to have enabled a structure where there are seniors very focussed on not only growth but ongoing production. The next stage of the CFO job is to maximise those streams - build a communications process that ensures the dull things to hit targets are highlighted, made visible and given owners who feel accountable in the process so they get done - each quaarter the revenue and profit challenges are addressed via this process. If you havent rolled this type of comms out, you would be amazed how effective it can be in focussing a large team and driving a business to close out elements that lead to maximisation of financial performance. This should allow Leon to focus on the horizon and where we are going - something I think we would all agree he has a knack for.

I really do think that the CFO will make the difference here - businesses are team efforts and often financially perform despite a founder / CEO alleged frailties in certain areas.

I bought in at 2p sold all the way up to 20p+ and then caught mutliple falling knoves on the way down - however they were my calls - i didnt do it because of any rampers or noise. I did it based on my belief in copper strategy and cobalt giddiness/greed - my greed, my buy, my mistake - lets not use this protecting the innocent guff here - everyone should be wearing big boy or big girl pants.

As to bullying Bushy, come off it - he may have been right in the price action for a while but he was the personification of obnoxious, took great delight in dwelling on holders pain here and to add to that he insulted the board or specific people in almost every post. A truly toxic individual indeed. There may have been some tat from some LTH but it very much followed the Teat posting first.

When folks state opinions as such and their views without laying false history and without needling others this is a great board, great knowledge, differing views levelled - I hope this can continue into the future. I think holders always tend to big up a stock - thats why they bought / hold. Non holders who regularly post - thats odd and if they post to bend to the negative, its unsurprising that holders view that cynically and dont give the benfit of the doubt.

Looiking forward to closing out my knife catching act when we fly over 20p again.

I agree SteJSteJ, If revenue was the option we would sell the existing concentrate. I had assumed that in doing so we would either break sanction or pop our head over a parapet somewhere - but maybe our hand has been forced this way anyhow.

Equally it seems odd behavior for a buyer to ask - perhaps they will only buy an asset that is already producing ie needs no development costs or time.

I don't post much here whilst we are in hideout and wait mode from our boards perspective. I do find the clearance going on v interesting.

- are we readying this in kindness to a prospective buyer, pre buy?

- are we looking to gain a revenue?

- are we producing for a local agent forcing us to do so on threat of asset expropriation?

Very unusual to have no idea, but then again this is a very unusual share position. I remain cautiously pessimistic - still holding the shares on their cost price (with a huge loss - average of 22p) but the light at the end of the tunnel seems a long long way away and is flickering at best. How long can this continue in its zombie form? I suspect not too much longer - as time goes by I feel there is more chance of losing asset and less chance of a purchase. Interested to gain other long term sufferers current view.

I will provide a marker to be lambasted - 2,000 BOE/day - on the bigger side of things.

Hi Adon,

My guess is they will hedge a majority of the non-operated cashflows. The company is reliant on this inflow to plan and drive Paradox (and any other) activity so having more certainty on this element by removing the speculative pricing element allows them to plan with more certainty their future options for Paradox and any new acquisitive goals. We will find out soon.

Heroric, I see the point you make, but I read the strategy as providing a refining service - not entering mining.

I also feel that focus and accountability/responsibility which you also raise, is where the CFO and the new country structure should become more of use. With clear lines of responsibility, the day to day on each element can be kept away from the new development ideas and as such hopefully not be a distraction - clear goals for farmers and hunters etc.

Personally I am very pleased from afar with the structural part and the increase in reporting. If the CFO is to be effective, he needs to drive these structures and the reporting within them - so far so good.

Thank you for the new broker background - very much appreciated by me, who was wondering about the significance.

Unfortunately I think Heroric is correct in that JLP layers news and timeline in such a fashion to not give a clear view of progress. Until copper is running and clearly stated, we have limited rise from any heavyweights. In terms of us holders already in the mix - most have taken positions and intend to stay put. New PI's however will look at this board or others as a final check prior to investing or not. Since the exit of BT, we haver had great discussion dialogue. Last nights distraction aside, this is a really good board at present and reading it gives a really good summary of JLP.

My summary - First Entrant lead on strategy driving an incredible growth opportunity, a good way through development with an average to poor roadmap view linked to a quite terrible style of communication.

Perfect companies dont exist (I am tempted to say like women but have not for the record) and if they did they would be priced out of our league as a result. So you have to weigh the good with the bad - Massive, massive massive enormous potential and relatively stable underlying cashflows allow us to remain solvent but a bit flaky. I dont like the flaky elements but overall there is no ay I am selling out at this price / this close to copper fruition (allegedly - lol).

We might not like it but this update is the reason sub-saharan Africa based business can be so frustrating. If it isnt admin issues on permits and customs (and they are usually based on the systems the UK put in there before anyone thinks we in the UK are better) there is a local official holding it till he can become a "facilitator" for you in securing a release of the product. 6 weeks is frustrating but I dont intend to sell so looking back henceforth it will be forgotten I hope.

I set up a business in Malawi in the 00's. Used to feel that I lived at the customs office and the airport at times! Once had 2 trucks of salt held at border for 3 weeks but absolute worst case was a charity I supported. An enthusiastic donor had visited and I had taken him to my factory where he had seen I had a buy a bike initiative for employees -he wanted to do this for wider economy so he arranged without my knowledge for a 40foot container of donated 2nds hand bikes to be delivered to the Charity from Australia. 8 months it took to get through clearing this. In short no matter how "on top" of things you might be, or who you know, anything like this can be a mighty mighty pain.

Apologies for over sharing.

NtD

What is each persons low threshold for a bid - not that we will be the deciding voters i am sure. I start at an unhappy 30p but wouldn't see it as anything other than an opportunity missed till we got above 50p which I don't see happening at all via takeover, but could be us in 3 years easily if it all went well.

However I would really prefer to see this grow at least 2 - 3 years more, before any sale. Remember a recovery in Cobalt pricing and quickflash we have another processing stream with melt your face profits (and if I recall correctly we already have a large amount of Cobalt riddled spoil in our name). Now if that were to happen we are 100p plus - the stuff of fantasy most likely but the levers are there to be pulled if the right market scenario hoves into view.

I agree. I would also add that if the right investors were on the list of visitors we would see an uptick in volume of buys since the visit (whilst it may not be shareable information that they visit, if Roan is running at any speed that you can observe, you should get a view of whether we will be processing more copper in the short term). I was expecting an RNS as a result today to avoid any grey area. I am guessing we will see it this week after a polite insider period for those who visited.

Such is the level playing field afforded to PI's!

I agree Happydays,

As PI's I think we tend to run ahead of the news - try and invest early. The market seems much more sage and evidence based. As a result I think (or hope) that when we announce the Roan running at capacity, the market will respond - but not before.

If we announce Roan and no reaction, then I will complain but also look to first results cycle with the cash from the copper coming through.

The copper rerate as you say, has the potential to pretty much double the share price here. Given it could come in a matter of days and not weeks - it makes for exciting times here at the moment, despite nothing happening on the RNS channel.

Been away so late replying. Currently around 9% - a 4% of PF core holding and some trade money in here also (i unfortunately added the trade money while we were declining so its currently reluctantly invested money rather than trade money).

Three key general rules for me;

- I only allow core holding to get to 9% and then i trim back to 5% - means over the years I have taken money out JLP core holding. I broke these rules for last crypto bull run to an extent and regretted it - wont do that again!

- I only "trade" in shares i think have long term good growth dynamics - hence trade on JLP. The theory being that as with JLP, if the trade collapses technically, I still have a recovery route as long term there is promise. I am finding that the key to long term promise is people as much if not more than business.

- For both slicing core portfolio and trades, the idea is to push a proportion of money into divi shares away from gains in capital gain only shares - try and grow the income off the PF this way whilst still enjoying the more exciting aspects of shares. My key investing metric is how much is my divi income increasing annually - but thats v dull hence trying to gain via capital growth shares.

The above rule has seen me slice Apple, Microsoft and Amazon a few times also leaving them as core holdings, but also funding rises in divi income.

GLA - JLP feels like its had a nice change of sentiment over the last couple of months.

NtD

Not calling anyone a moron (see original post to which i respond), or correcting their grammar, or saying you are right to be bullish or bearish. Just pointing out that there is no victory in losing your money.

Errrm...If you as a holder see us going to zero as a victory, versus the people who hold out hope (however slender) of this going up and recovering their money, then I would have to say that it seems you will be basking in a victory WITH the moron's and not against them.

If your goal or your victory is this going to zero, sell or short it - what kind of Victory sees you lose money and in your mind get one over on the others losing money.....a moronic one maybe? Still, of all the people who were wrong, you will have been the most right amongst them - fair play!??!

Hi Ragnarr,

Thanks for checking in - nice to hear from you. I agree the Dynasty news was a low blow but there you go. Hope the crypto space being kind to you - I have an allocation to crypto also - exciting times over there. Good luck!

AtB

NtD

I am in broad agreement on most of the items on this board.

However in terms of surmising horse-trading strategies - I am guessing, so please correct or giv a view if I am off target, that it isnt a simple horse trade (though certainly relevant. Arent the auctions being held by GoR, whereas under the treaty we have a claim against the GoI - ie two entities who may not be as joined at the hip as we would like.

I do think that there will be dialogue and the possibility of a settlement pre-auction, but only as GoI want to save face, I am not sure they will be linked to the auctions.

Its a wrinkle in the fabric to bear in mind when looking at this and projecting - GoI and GoR - two entities - one facing a big upside in selling an asset, the other holding the liability of a potential claim.

Politics and greed may be big factors in how well they play nice together.

I think the next key step is for Nabla to launch a DEX product as the forex front end to the current IT elements. At that point I think there is a skeleton of usable product - I am optimistic that this can happen soon. whether that subsequently converts into usage on that infrastructure is well beyond my knowledge.