PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Gray, it is a coverall for any excess generated in the raise.
The items listed come to $12.7m from a proposed raise of $12m.
Beginning to think you and Kalan are one and the same flipping between logins but pure speculation on my part.
ATB
Northern
kalan,
i am always willing to discuss the facts and happy to be proven wrong if that is the case. the placing didn't push forward roan - this is the actual use of the cash (unless you have evidence to the contrary)
"the company is seeking to raise approximately £10 million (approximately us$12 million), before expenses, specifically targeting its zambian copper operations, in order to:
· pay the initial payment of us$1.75 million, due under the agreement for the acquisition of the copper waste rock dump announced on 12 december 2023 detailed above and progress resource and process design (a total of c.us$4.5m).
· expand the sulphide recovery circuits at the company's sable refinery to accommodate increased sulphide concentrate production from newly acquired projects (c.us$5.7m).
· progress the project development phase of the mufulira **** project, with early-stage bulk trial and processing (c.us$2.5m).
· for general working capital purposes."
how you bought and sold is up to you and probably of no relevance to anyone on this board. the facts are important however!
atb
northern
Kalan, there you go again insinuating JLP have cash flow problems.
Even with PGMs at historically low prices JLP are profitable and cash generative at an operating level as you have previously acknowledged.
The recent raise was to accelerate future capital investments and not to keep the operations running.
Your constant inaccuracy on cashflow is either a deliberate ploy to try and undermine the share or you are struggling to grasp the facts (in which case I would suggest looking at the 1H financial report)
Kalan, still peddling the narrative about running out of cash I see!
This may have been posted before but a very useful article for those like myself who are not experts on Copper!
https://www.cruxinvestor.com/posts/understanding-copper-oxides-sulfides
The presenters mentioned they would be seeing Leon at Roan so I think that section of the trips has been embargoed until the appropriate RNS gets released
Nelson, I agree the market is awaiting the module to be in and functioning at Roan.
Not sure investors will need further evidence from Munkoyo (albeit that will be August so not long to wait).
I say this because the modular approach is working in SA on chrome with different materials being processed and will soon be up to 10+ modules.
Further catalysts for me will be in the tailings processing which becomes much more interesting at the higher copper prices as well as the Mopani dump, OB1, further small scale operators...
Not one for SP predictions but can see substantial growth from here off the back of a successful implementation at Roan.
ATB
Northern
I think the Roast boys seemed to confuse/conflate a couple of the JLP projects during their brief discussions on the Sunday episode. Certainly sounds like they went to the s**g project at Mufulira which is good as we should be expecting some news on the development plan shortly!
Looking forward to the Zambia special as well as should give some broader context to the region and mining activities.
ATB
Northern
Jonah, I agree on your payback synopsis. I would also think that development costs prior to the SPV being formed will be chargeable.
Charles, what comms are you looking at? There are at least a dozen projects ongoing. I suggest you do a little more research prior to further enlightenment of the board.
Gray, I think within a couple of years JLP will be in the position to do share buybacks which should support a higher upward curve in terms of the SP.
Possibly the holy trinity of growth, buybacks and a dividend (over time!) but all things in due course.
ATB
Northern
HD,
I am not sure Neal needs to give a running commentary on what has been paid to what suppliers. My point was that there is no evidence in the public domain to suggest the project is not going to plan - unless you can provide some which is what I am interested to understand.
Frog - the OB1 project was originally talked about as 12m from agreement which would make it Dec-24 production.
So my opinion/conclusion is all is going according to plan unless there is evidence in the public domain to the contrary.
ATB
Northern
HD43,
If you listen to the recent podcasts and comments from Leon the IRH OB1 project is moving at pace.
Just because there hasn't been a specific announcement on this doesn't imply it has been delayed or there are issues as you imply unless you have any information in the public domain which states differently? If there is I would be interested if you could share them.
ATB
Northern
Edzi, I did go to the AGM and did meet and speak to Mikie and others on this board adn enjoyed meeting them all. Mikie doesn't hide his optimism for the share and there is nothing wrong with that - in some cases it is nice to temper some of the doom merchants.
We also spoke at length to the NED's to first hand understand the initial issues with the copper.
What I will say is they have a plan which could manifest itself in short order. I don't go for SP predictions as anyone who thinks they can predict the market is often wholly wrong.
Do I think Leon will get this right like he has with Chrome - yes.
Do I think we are in for a steep rise in the valuation of the company - yes.
Everyone is entitled to their own opinions and long may that continue!
ATB
Northern
Frog -
From the latest Operational RNS - "IRH has elected to exercise its right to form the dedicated joint venture through which the project will be implemented."
Not sure you will get a seperate RNS to say the paperwork has been completed but sounds a done deal to me. Leon on the Roast also mentioned IRH are pushing for this to be implemented asap.
ATB
Northern
More potential re-structuring in the PGM space.
reuters.com/markets/commodities/implats-weighs-3900-job-cuts-south-africa-price-rout-takes-toll-2024-04-26/
If Only,
If that is the case then I would politely disagree and venture a different opinion. Some people forget or ignore what has been built over the last few years - I don't.
I understand frustrations and as Leon has admitted they made quite a serious error when getting copper started in Zambia.
I recognise the past but also look to the immediate future which has a whole host of opportunities - some as the Mining Minister for Zambia commented is because Leon and the team are very good at what they do.
Gotreal, I don't understand what the last sentence refers to unfortunately so not in a position to comment. If Charles would like to provide some detail then happy to venture an opinion.
ATB
Northern
Charles, you could be right or it could be a function of a particular batch of the particular feedstock in the period. I don't know for sure either way.
I remember discussion at the AGM regarding the feedstock as with the new modules they should have a lot of excess PGM material from the processing of the new chrome sources. My personal view is they will switch the third party processing on in Q4 to go through some of this.
ATB
Northern
I agree Gray that it is WIP. Just reporting what I have seen on TV at lunchtime