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Is JLP next on the shopping list? IRH are making moves. This feels like the last time, when I bought BRR for 7p and Jubilee bought them out at 2p. Tooke ten years to get my money back. I'd be all for it if we weren't languishing in the 5s. π¬
Simple, Gotreal. It's possible to hoodwink investors. Petrofac pretended to be making profit when they weren't. Theranos managed to build a $4 billion dollar company by hoodwinking investors, including Henry Kissinger and Rupert Murdoch. I've believed in this company for many years, but with every passing year of broken promises, (see claim of "no more placings" followed by "oh, maybe one more," diluting everyone's investment permanently, my faith has lessened somewhat.
Yes, I could sell up at a 50pc loss because you think I should, or I can carry on waiting, which I've chosen to do. If you think my musings are bordering on libellous, I suggest you get back to bickering like a child, month in, month out. Dignity doesn't just lose itself, you know. See, we can all give unwelcome advice. ππ
Yeah, same. I've been here since Braemore. I'm aware that I don't contribute to the board insofar as technical analysis is concerned. I look in every day though and appreciate that the knowledge and efforts of the regular contributors with their insightful input. It helps less informed people such as myself. I'm encouraged by the rollout of modules though. Relatively affordable and fast. My feeling is that if copper recovers a bit this year and we roll out a few of these modules, by the end of this year, we'll know if we were being hoodwinked all along, because we'll see the results on the balance sheet. Or we won't. Surely???
Even Bushy thinks this company will get there in the end, I feel. If he was a shorter, he'd ramp from down here, to short from higher. He doesn't. Heslams the company, hoping it'll go lower. So he can buy. He secretly believes....
I often hear that we're massively undervalued. We have a PE of 11 or twelve. That's about right, isn't it? For a company who hasn't produced meaningful amounts of anything and made so little money that they had to issue hundreds of millions of new shares last month to keep doing what they're doing for now. Until this expansion appears as tens of millions of pounds on our balance sheet, year in, year out, we're just a company of unfulfilled potential with an enthusiastic chairman. I'm 51. If I was eighty, I'd be desperate. As it is, I'm just perpetually disappointed with the progress. Fingers crossed that this is our year. I mean, it might be. I, like everyone else, have big plans for the huge profits.
It seems like the ever further away destination is getting closer. Hope so.
I will, however, kick off like a screaming toddler if this sudden open mine approach requires lots of mining kit, requiring another placing.
For now though, the stars seem to be aligning. π
I'll play.
I hope and think, like most invested, that JLP will get there eventually. Things can take longer than you expect. With metals prices dropping to the point where mines become inviable, and JLP still making a profit, despite investing tens of millions in expansion and upgrades in a single year, I feel quite justified in optimistically expecting the expansion Capex to begin bearing fruit this year and next.
A previously predicted excess of global copper reserves now seems to be quite the opposite, just as we ramp up our copper output.
So, to summarise, higher metals prices, increased copper and chrome output and the end of large Capex points to a jump in profitability. BT has been right up til now, so well done to him. But, when things turn around, he'll disappear. They always do. We all consider the downside potential, but he never acknowledged and possibility of upside. I don't think we'll rise meteorically this year, but I think this year it'll begin. Imagine, more profit, less Bushy. That'll be sweet
End of this year: 9.75p
All good points Northern. I do try to remind myself of the potential, year after year. π
Truth is, my expectations were of a much shorter timeframe, but acknowledge that water, power, supply strains and metals prices are all factors out of the board's control. That's why I say that this year has to be borderline meteoric. Power is sorted, albeit at a premium. Water is sorted. Copper shortage predicted. Large Capex period nearly done. Huge resources secured and the refinery capacity to cope. There really shouldn't be any legitimate reasons left as to why we shouldn't start harvesting profits. I checked again this morning. I actually have Β£96k invested in this. It causes me sleepless nights, as it's currently worth around Β£50k. I feel like I'll make money eventually, but it's embarrassing when my ma asks how my investing is going and I don't like to tell her that I haven't exactly played a blinder here!π
Yeah, I also invested in PFCπ
- again sounding like a man with a plan...
In the QnA, I expressed my annoyance at having to give away another 8% of our company for a mere Β£13m. When we're not making any decent profits, it's a high price. I asked for assurance that it's the last time.
For me, if the next twelve months are as fruitful as he predicts, all will be forgiven, as the SP should be three times what it is now. If it's more disappointing results, I think we'll be baying for Leon's replacement. I hope it's the former. He is likeable. Whether he remains believable will play out in the coming months. π€
It's yet another dilution though. Leon says the deal is good, at 30%.
The trouble I have with this, is that for years and years now, Leon has excitedly promised transformational and eye watering uplift/doubling of production. We seem to produce less and less, year on year.
Leon- 'We get 30% of the latest deal because we 'don't have to put a cent of the costs.'
Also Leon- 'can someone lend us Β£10m? We're on to another sure thing here.'
The only way I would support this latest scrounge, is a promise to buy the shares back at the earliest opportunity.
Are we all being taken for mugs?
- suggested by a broker last week, was that an RI could give shareholders a serious haircut. Anyone have an idea as to what that might look like, in terms of post RI share price? I mean, I'm pretty much scalped anyway, so not selling. But, if the company survives, as I believe it will, being re-financed surely means the massive order book again becomes an influence on the future SP, right? Even diluted, with the legacy contracts played out and the many new ones yielding profits (π€), eventually we'll be at multiples if the current SP once more. Anyone more mathsy than me care to speculate? Maybe not Snapper. His thoughts are already in the public domain and well over-documented. π
Well, in the interests of balance, I did say I was cautiously optimistic π.
I have Β£80k in this. I'm not a rich man. I'm dreaming too. I'm also getting old!
I would just add that I sincerely hope this is the turning point, because 'the market' remains as unimpressed with actual fruition as Homey and I.
I'm inclined to agree with Homeys cynicism. Contrast was supposed to be transformational, if I remember rightly. Over a decade later, after many many positive updates on the company's progress, here we languish at just under half my average. I hope we get there in the end, as I have hoped for roughly a quarter of my thus-far life.
Only the money will quell my cynicism now. Nothing else. Not promises, deals, expansion plans or the overused term' transformational '
Wake me up when these dreams come true. Then I'll hastily cash out. I don't fancy another decade wait. Also, does the 30% minimum thing mean that's the share of the profits?
Sorry to dampen the mood.
The fruits of the expansions and efficiencies in black and white on the balance sheet is the only thing remaining that will convince the markets. All our pleas regarding transparency and openness are ineffectual. Even if we enjoyed full clarity on progress, and the market believed Leon's optimism, we'd maybe see the price rise speculatively a few months ahead of the curve. Ultimately, even if we had daily podcasts by Ollie or Leon, the eventual sp will be the same, IE a multiple of our ACTUAL earnings. I think the next time we see the SP at 22p is when our EPs has quadrupled. Probably. I reckon