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A chance to watch the investor presentation from August if you didn't catch it live at the time, wet your appetite for what's to come.
https://youtu.be/sCLyX0Rre6I

Nice to see the sp following the gold price back up from its drop down to around $1650 now back above $1700 and we have bounced with it, hopefully the gold price will continue to head north and we will move with it.

Hi Ken, pleased to read the next move will entail less risk, a quick look at market screener has 2022 down for the best revenue, decreasing slightly 2023 and again in 2024 with the company going from net cash to debt in 2024, I assume this is there estimate on assumed commodity prices and capex.
If it turns out as you say then perhaps we will not be in a net debt situation after the move, that would be nice.

Are they tidying things up for a takeover cause if it doesn't happen shorty it is not happening until 2025 nobody in their right mind would risk a takeover with he WCP move imminent and lumber themselves with the risk what if we **** it up, better to wait for a successful outcome imo.

What I am suggesting is next year will be the peak in sp after that it is downhill due to capex for the WCP resiting and until it is successfully concluded, so for people looking for an exit its next year or a gamble/risk hoping that nothing will go wrong during the move and that costs are kept under control, risk increases significantly in 2024 I am hoping to be out by then watching from the sidelines.
What they achieved in moving the WCP was a remarkable feat of engineering and to do so without any hitches unbelievable with hindsight.

The biggest crime in my eyes was frittering away a stash of cash which could of had the company debt free and in my eyes deliberately avoided as this would draw unwanted attention to a world class asset debt free with cash in the bank and an increasing dividend policy which would have followed.
Over the years we always seem on the cusp, like now what's the betting something unforseen will turn up, we have had the slimes, maybe it will be weather or the like but something usually turns up to put a dampener on things.

The problem here is at present we are generating the most earnings ever, due to good commodity prices and good mining production, however looming on the horizon in 2024 is the next WCP move which will cost a bob or two and will probably send us back into a significant debt position having just made a cash pile.
My issue is sp performance which has been poor, however management haven't helped the situation by the tender offer which was pointless, and kept us in a debt position longer than necessary, then we have a skewing of recent results by the vessel being in dry dock so revenues look worse than they could of been, add in the slimes issue although being addressed, all in all it gives the impression that they are not doing as good as they should be, I could accuse our board of doing this deliberately to conceal what is an exceptional asset from hitting the headlines.
I know markets are being hit however this stock should be a safe haven taking into account the cash generation, and hopefully a net cash position in the near future.
Should prices fall next year which is likely it looks as though another opportunity to shine will have passed us by, that is unless the the much talked about take over emerges.

Yes I am sure they have a shortlist, although I would favour another acquisition in their neck of the woods there are distressed miners out there looking for financial support in good jurisdictions.
We watch and wait.

Hindsight is a wonderful thing, going back a few years, so Lance Batchelor with net debt around £250m decided the two cruise ships had to go he wanted bigger and better so lumbered the comp with an extra £550m or so of debt to pay for them, why didn't he lease them?
Of course he never dreamt of the shut downs which followed and that couldn't of been foreseen, but if you look at Saga history they had spent nearly a decade reducing debt from near £1b down to very manageable levels only to push them back up again.
That was the defining moment.

New broker note out WH Ireland
i3 Energy announced that it recently reached a production rate of 22,000 boe/d (52% natural gas, 30% of natural gas liquids and 18% oil). The company stated that production levels are in-line with pre-drill forecasts and on track to reach 24,000 boe/d by year end.

Just remind me how on earth are they going to pay down that debt pile, considering its two years since the deferrals and as stated June when they resumed again approx extra £50m a year needed for that .........

Net debt reduced to £721.3m which is £7.7m lower than at 31 January 2022.

· We resumed repayment of our ocean cruise ship facilities in June 2022, following two years of agreed deferrals.

With zero payments they managed a reduction of £7.7m, with inflation and market conditions looking bumpy they have a tall order on just to stay solvent.

Moram analysis of JSE, positive review bang up to date expecting more m&a
before year end, worth a read, nothing new if you follow JSE but a good overview of the company if you want it all in one place.
https://moram.eu/jadestone-1h22/

After listening the update today JSE were following the recommended guidelines which are accepted by Lloyds as the standard levels of maintenance required for the FPSO, it seems just unfortunate that although this corrosion would ultimately of been detected during the maintenance schedule we just didn't reach that point in time.
It seems the incident occurred due engineering errors at the shipbuilders when conversion of the vessel was taking place.
No exact date given for when the repairs will be completed due to that depending on the third party inspection, however it seems as though what and how to rectify the situation is in hand, plus going further on maintenance than would be necessary due regulations which given our situation seem prudent.

Share price going bonkers over the pond up over 20%
Below is the Crux interview with Segun before he was off to the States to spread the word at a mining conference, perhaps some are taking notice.

https://m.youtube.com/watch?v=UtbI5ot0OoU

Not sure you can state JSE took a gamble, during the pandemic in the Southern Hemisphere they had Draconian measures travel very much restricted it is only now that some of these measures are being lifted, the damage they have done to their economies is unmeasurable, this event is possibly a result of those measures.
In Australia many miners could explore due to travel restrictions from one state to another meaning equipment couldn't be transported from A-B.
I will wait for a full statement from management before I pass judgement, this management's reputation is or was first class I feel sure there must be more to this than winging it to save a few bob.

Although the unfolding event is disappointing as it turns out they were previously warned about corrosion and for whatever reason perhaps difficulties during the pandemic chose to postpone their actions they are now in the spotlight and operations regime under scrutiny.
However there has been no recommendations for the FSPO to be dry docked which I assume they could of stated, this suggests that repairs can be undertaken with it in situ, there is definitely no information out in the open demand to suggest scrapping.
I am sure we will find out shortly the full extent of what is required, but from now on the inspection authorities will be watching JSE like a hawk, and if they had their act together it could of been avoided.

Yes good news that RNS we seem to heading back in the fit direction considering we have only had good news regarding operations for some time, and this gives us more confidence that we will have more ore to process.
Read the RNS again on the London Stock Exchange not here, and it comes with pictures which are now allowed in releases, which didn't show up here, I don't know if that is my browser not showing or lse issuing without the pics.

Surprised by today's RNS because I thought the NOPSEMA would be doing all what is listed below.

NOPSEMA fulfils its legislated functions by undertaking assessment, inspection, investigation, enforcement, promotion and advisory activities.

We know we have had an incident and what needs to be done to put it right, it seems however that the inspection will now be done by some third party, NOPSEMA will then read his report and decide whether or not their conditions for safe operations have or have not been met.
Do they not have the manpower to undertake what clearly comes under control and therefore contact it out to others?.
Disappointing as I could see the timeline for this repair extending our into the future, hopefully this will get fast tracked and back into production sooner rather than later.
The company update due later this month will clarify in more detail what all this means.

Although I have never posted here I have been watching and reading the RMM board for months.
I find it odd if you look at the cu price 5 yr chart the current price $3.5 is good well above the $3 in early part of 2020, if they have been basing the viability of the mine against the highs of above $4.5 spike then that is odd, a bonus but not figure that should be used as a reference for a profitable mine.
Inflationary pressures would be a worry going forwards, but should of been manageable up to now.

They have also had the opportunity to hedge at those higher prices to safeguard themselves against a severe drop in cu prices.

I also find it odd to continue drilling finding more areas to mine, and prove up cu reserves, and developing additional stopes it all costs money which they obviously don't have.
Reducing spend on these items concentrating on production to generate some cash flow should of been the way forward, drilling at a reduced rate as necessary could of been the mode of operation, conserving as much cash as possible.

The stopping of monthly production figures with lack of costing shows that with hindsight the management were left with time frame in which they have to report nothing and nothing is expected, so no inkling is apparent to this bombshell.

The trust of shareholders has been destroyed, it will take a long time to recover if ever with those who are left looking to jump ship at the first opportunity would not be a surprise.
Very disappointing RNS, and why release it half through a session anyway.

Spotted this on Radio 4 Crossing Continents, Nigeria's Oil Thieves, thought it might be worth a listen, released on Sept 1st so current, if you can't listen on the sounds app it's tonight at 8.30 R4
https://www.bbc.co.uk/sounds/play/m001bkr1?partner=uk.co.bbc&origin=share-mobile