Member Info for Sumoskier

The sad thing is if you exclude the cash coming in the total assets of JLP are worth, according to the market, £40m. I wonder whether it would be better to stop trading and sell everything for scrap? Couldn’t do much worse?

True

Iluvise, one point to remember re Slater. It’s not his personal wealth just his funds! If it all disappears it’s just a rounding on the performance report.

The roast is a complete waste of time! Positive news in an RNS is the only thing that is going to save this Titanic!

Just want to point out that JLP has grown from £35m in 2016 to £80m now or 9% compounded. Not much better than having the money in the bank ! Not exceptional growth considering all the plans given out. Leon’s earnings £5m+options+bonuses. Who’s the winner? Happy to be negative until he provides a presentation that doesn’t tank the share price again!

Based on the SP reaction to the last presentation I’m absolutely not looking forward to the Roan presentation! If this is another lemming then it will be sub 2p!

Just trying to put across the point about fixed costs. My really rough maths was break even quoted at 350tpm when copper was st $8kpt. Assuming 25% margin then net revenue would be about $8m (350x12x25%). As this is break even then central costs are $8m. Do you need to deduct this kind of number on profitability?

Just wondering whether that margin looks a bit strong?

Harmprof, have you accounted for fixed costs (Leon’s/JMK’s massive salaries) this will reduce your numbers quite considerably!

If there is, as promised, a presentation on Roan at least the question could be asked. Whether an answer is given is a different thing!

Not looking for issues, just a question. It is also a point re poor communication from JLP not stating that the 65% includes these second processes rather than being in addition to the basic?

Seis, thanks for the explanation. One point … if you exclude the dewatering process it seems that the underlying recovery rate of the original process is as low as 40%? Seems very poor? Sumo

Does anyone understand where the feed for the dewatering process comes from? Is this about simply reprocessing what has already been processed and discarded?

Harmprof, at the moment there is little clarity of a) production or b) margin/profitability. Until JLP actually prove they are producing at a more than break even point the SP is at risk of going lower due to a) cash drain and b) further dilution risk. Individuals may well sell to take what they have to avoid further downside risk?

Harmprof, just responding to one of your previous posts. As you will know companies are normally valued on the basis of future earnings. With Leon refusing to provide any form of production forecast what else will investors do but value JLP on a cash basis which effectively means the value of the SA deal less operating expenses it’s not meeting? The longer this situation continues the lower the SP will potentially go?

BU, Just to be facetious if anyone was buying millions before an RNS at least it would provide some element of support to the SP which is surely missing at the moment!

Depends on how people interpret the word “shortly “?

The real question is whether it really an asset. The failure to sign partners with Copper close to its highs you would think the answer is more not?

You might get production after a few months but margin won’t be known until next year? Long time to languish!

Harm, asset values are irrelevant here. At the moment you have a CEO who is not willing to provide a production forecast due to past failures. This simply means that the company does not appear to be running at a break even or better level and is spending money without a surety on what that spend is going to produce? This means a slowly decreasing value as it runs down its cash? Not what was promised? A fully funded adult capex plan as far as I remember?