Member Info for Snaffleman

Hell we did not even know the licence would be cancelled the following day

Looks like things could be getting nasty and the end game is close. My main hope for a positive outcome is that the Zambian authorities will not want to lose JLP expertise

Agreed Strontium I am not a holder and just look in occasionally. Nothing of value to add so I will follow your advice and wont post again

Its a question of balance in my opinion and I do tend to set the stop loss fairly wide on Aim shares (sometimes I use a manual not an automatic stop loss) so I agree what you are saying is correct MMs see the book and pick up shares cheap. However I have found that historically it was not applying stop loses at all that cost me dearly. My balanced approach has protected me from making the same mistakes as before to some degree but it is not a perfect art and I still make mistakes like everyone else. I believe it is a mistake to consider everyone who posts a negative view as a deramper with an agenda I have no intention in buying into AFC again so why would I not wish remaining investors well. Life is too short to wish others ill and it is self defeating

Your view is as valid as anyone else IWTO and I hope you turn out to be correct and me wrong. Personally I prefer to use the approach used by the Naked Trader Robbie Burns and apply stop losses to investments. I have found his book trade like a shark very useful in avoiding sitting on a share too long whilst the sp reduces drastically. I recall some poor fellow on GKP see his investment reduce from £800k to just a few thousand and he always found a reason not to sell on the way down. Robbie Burns sets a stop loss and always sells without emotion if the loss is exceeded. Regards to all long term AFCs some who may have came over here from iii. I wonder if Desert Wolf and others will join you here

I was invested very heavily in the early days particularly when Ian Balchin stated that a commercial deal with A Nobel would very likely be concluded by the end of 2011. The drift down from 80p to 20p was a very painful leason for me about not falling in love with a share and I eventually sold a few years later and I think I just about broke even. I continued to follow AFC with a view to possibly getting back in but in recent time 2 things convinced me that it was probably game over. Firstly when Dr Gene Lewis left I thought why leave a lifetimes work on the brink of commercial success. We never got a truthful explanation why he left. Also when AB promise a commercial contract by the end of 2016 (or was it 2015?) failed to deliver and months wen by without even an acknowledgement losing all credibility in my eyes. I supported and wanted AFC to succeed for years but now think it is a bad investment. Even if De Nora help drag this product to commercial reality I believe that AFC will be diluted to hell in the meanwhile and with No Cash left will be bought out very cheaply at best. There are so many other worthy and compelling alternative investments I cant see the case for remaining invested. Hope I am wrong and genuinely wish you all the best if you see it differently

In my opinion if they do a fund raise the placing price will be brutal. Remember the 10p raise when the SP had been circa 20p for a long period. I cannot personally see the case for remaining invested

If that was the case and JLP are well connected and know the situation on the ground then one could logically conclude that they must have known about the risk and ultimate withdrawal of the licence. if that is the case Leon has blatantly lied to sharholders when he directly stated that JLP knew nothing about it and it was a complete shock which they found very embarrassing

In response to why the SP is where it is in case you are new to JLP Record of regular dilutions Advertising projects which then do not go forward- Smokey Hills and Nickel project in Australia Failure to meet production targets at Hernic Failure to deliver PCMs at DCM despite promise (over 3 years)s Failure to explain how depreciation is accounted as part of profit/loss calculations. Advertising Kabwe project 1 day before licence is removed (making them a laughing stock). Projects have limited life making forward P/E projections difficult Despite eveying I remain invested and think the SP will increase but expect further diltions for new projects. However they are in the last chance saloon with me

Yes a lot people lost a lot of money believing that the deal was in the bag for it to fail at the last minute. One bitten twice shy hence market sentiment they wont believe that these boys will deliver anything until the cash is in the bank and audited results published

I would not say odd I would say it has got corruption written all over it

Is making my toenails ache

I will be toppng up tomorrow I believe the investment case is the best on aim that I am aware of That is just my personal view

I can hear the cries from the terraces You don't know what your doing

or perhaps 3.8pwhen the next Zambia cobalt JV is announced. Who can say

Any views on the Chance of success at Kelvin? Must be pretty good I believe

Are the figure accurate- No they are a joke

I could see a strong case for BMR holders reducing their investment risk by splitting their stake across both BMR and JLP. The stumbling block will be if the relisting price is disappointing because it is like swallowing poison selling at well below your average even if there is a case to derisk. Anyway the truth is that the best result for everyone makes money from a successful Kabwe Project. The other important thing is to be dispassionate about your investments. I must admit that Mr Borrellis reputation would put me off investing in BMR but that being said Mr Bird can be considered as the dilution meister so as a JLP holder I am not being consistent.. Actually I have not averaged down on JLP because it would be like swallowing poison - there is a bit of hypocrisy for you

What makes you think something is stirring with Tjate I don't personally think that removing the photos is of any significance

I assume is JLP acquired ENVIRO it would be seen as increasing their BMR holding albeit indirectly that may ruffle feathers and be outside of current agreement