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I listened carefully to the interview. Some thoughts:
1. Remember, Leon is quoting "target production figures", not actual achieved output. He's encouraging us to delude ourselves with imaginary profits.
2. No mention is made of chrome, probably because JLP are losing money on their chrome output - certainly that from Windsor Chrome and Dilakong. A lot of money has been spent on chrome at both Windsor and Inyoni, for no appreciable earnings return yet.
3. Likewise, after two years, no earnings have yet come from the massive expense and dilution of buying the Kabwe tailings. That deal looks to me like a dead loss.
4. I can't help but suspect that Leon's recent interviews, and indeed Colin's recent share purchase, are an attempt to shore up the share price. Why? Maybe because another asset purchase is planned, such as a pile of copper tailings in Zambia. And, inevitably, that purchase will be financed by yet another equity raise.
All told, I'm not impressed by the lack of hard figures here. It's very hard to judge the true financial health of this company, and that make me inclined to avoid for now.

Extract from Simon Thompson...

Sylvania’s mind-blowing earnings upgrades

I suggested buying shares in Sylvania Platinum (SLP:54.5p), a cash-rich, fast-growing, low-cost South African producer and developer of platinum, palladium and rhodium, ahead of the £154m market capitalisation company’s interim results and earnings upgrades (‘Exploiting market anomalies’, 10 February 2020). The scale of them is mind blowing.

Liberum Capital's net profit forecast for 12 months to 30 June 2020 is US$59m (£45m), or US$40m more than the house broker was forecasting last September; its net cash estimate of US$59m (16p a share) is US$9m more than I predicted in my February article, and is almost treble the US$21m cash pile in June 2019; and dividend per share estimates of 15.3¢ (11.8p) for the 2019/20 financial year, rising to 20.8¢ (16p) the year after, equate to 56 per cent of the current share price. Strip out the cash pile, and Sylvania’s shares are valued on 2.4 times Liberum’s current year EPS forecasts of 21¢ (16p), falling to 1.2 times the broker’s 2020/21 EPS estimate of 26¢ (20p) after adjusting for June 2021 estimated net cash of $111m (30p a share).

Aim-traded shares have almost quadrupled in value since I included them, at 14.5p, in my market-beating 2018 Bargain Shares portfolio. Offering 65 per cent further upside to my new target price of 90p, last week’s pull-back is a buying opportunity.

Drill results must be about due, surely?

Hi Razors Edge!
Honestly, I do think the central banks will end up buying shares (as well as bonds) to prop up the markets - probably the ECB will move first. The authorities can't afford to let the markets collapse - it would cause a slump.
To speak of feelings, this "welfare for the wealthy" disgusts me. Better they printed the money and tossed it out of a helicopter over the poorer parts of our cities. But somehow it's "wrong" to give free money to the poor, but "OK" to give it to the rich.

Hi Sotolo!
To be honest, I'm confused and uncertain about gold and even more so about gold stocks.
I'm sure I don't want to be invested in "other" stocks right now. I think the wider market still has a long way to drop. This combination of the coronavirus PLUS bubble valuations PLUS huge debts has the potential to be really toxic.
I'm not sure that I see much safety in government bonds, as prices are already so high (and yields so low) that any reversal will be swift and painful. As for corporate bonds, I see great danger in all but the very safest (and remarkably few are safe). Most companies are in no position to cope with a "sudden stop" in their activities - like a cyclist they must keep pedalling and going forwards, if not they fall over.
I'm not confident about the other precious metals, either. Silver, platinum, palladium and rhodium are really just very expensive industrial metals, and where industry goes, they will follow.
I also lack the confidence to go short on the market. What if the central banks declare that they are going to buy stocks to support the markets? As indeed Japan and Switzerland are already doing.
I think that gold will eventually rise strongly against this backdrop, and that shares in a solid debt free gold miner like Centamin will rise with it. But I'm not sure that we're done with the "forced liquidation and margin call" phase of this slump yet. I think there may well be a second wave to come once the coronavirus gets embedded in a major city like New York or London.
Just my random thoughts. I hope that isn't too glum for a Monday morning?

Hi Mr. Tibbles!
On this subject I'm afraid that we must disagree. I first "met" the damsel Centamin at 127p in December 2016. We've had an up and down relationship since then, with many break-ups and reunions, and here we are back right where we started.
If Centamin and I hadn't regularly broken up and gotten back together I would have nothing to show for 3 years of loyalty but the dividend payments. Instead, perhaps more by luck than judgment, I've done a great deal better for myself than that.
Maybe a man is not meant to be faithful to one share all his days?

Hi Mr Tibbles!
I'd agree with every word of that. Right now it's all about margin calls and "sell what you can for what you can get" out there, and the good gets sold along with the bad (in fact, the good often gets sold first as it is more liquid).
For Centamin this should be a sharp "V" shaped dip, IMO. I'm just looking for the bottom of that "V"!

Hi Kadavul!
A price monitoring RNS is not that important in the grand scheme of things.
One is issued when the share goes into auction at an unplanned time, normally because of turbulence, and because the market-makers themselves aren't sure where to set the price.
However, by the regulations, a RNS must be issued each time this happens.

Hi Padmaster!
Thanks for sharing your research.
I tried looking for "other" zinc miners in Zambia as well, and couldn't find any.
I don't know if anybody knows any better?

This share is now pretty binary.
Either JC and team find what they are looking for at Marsfontein / Thorny River and the share price rockets upwards, or they don't, and the share price drops.
I don't think outside markets really matter here. It's all down to the drill bit.

Hi Rosewall!
Let's assume that what BMR has written is true, and that JLP owe BMR money and have done so for a long time.
The question I then ask is, why?
JLP have cash and they could pay BMR if they wanted to, of course. So it's not that they're skint.
Rather, I infer that JLP are withholding the money because something is wrong with the Kabwe deal. That chimes with the increased emphasis they are placing in processing "outside" 3rd party material at Sable. And it would explain their total news blackout about Kabwe recently.
I'd suggest that either the Kabwe licence is in question again, or there is some legal challenge to the whole deal, or an injunction, or something like that.
I'm not sure yet, but I have an inkling this whole Kabwe business is turning into an unholy mess - for both companies.
Certainly, if JLP can't process the Kabwe tailings then the royalty is worth nothing.

I did get some at less than 47p. But I think the window was only open for a moment, as when I tried for some more seconds later, it went NT on me.
Needless to say, this is a crazy price for SLP. Even now.

Yes, those results should have baked in to the share price already.
I assume most of today's drop is due to the wider market meltdown. This should come back quickly once the market has found a bottom. But not today.

No debts, $300m in cash, no huge capex requirements, profitable and highly cash generative, medium cost AISC, massive reserves, gold price at $1600+...
None of this matters today.
But it will later. Very much.

Hi Razor!
And a happy Friday to you!
But I'm afraid today is going to be a painful one financially. I had a minor epiphany last Friday and sold almost all the stocks I own, so I'm 85% in cash, but I do still have a few Centamin.
I'm looking to buy more, of course. But patience, patience...

I think right now we're in the panicky "sell everything" phase of this correction / developing stock market crash.
At this point it barely matters if a stock is good or bad fundamentally, all that matters is to generate enough liquidity to meet margin calls. It's a case of sell what you can for what you can get for it.
I think we still have a way to go with this deleveraging. But as soon as we're through this phase, gold stocks should turn round sharply and start to soar, even as the rest of the market continues to stumble downwards. (That is, as long as the POG holds at these levels).
All IMO and please DYOR!

A rather strange interview, IMO arranged at short notice to counter the falling share price.
Lots of emphasis on the soaring PGM basket price, which is fair enough. Nothing said about chrome production or the horrendous chrome price, naturally.
At the end Leon addresses Sable, emphasising how it is producing grade A copper and the cobalt line is in cold commissioning. The zinc line is mentioned, but total silence about Kabwe.
Obviously, I'm reading between the lines, but I infer that there is some serious bureaucratic / legal issue which means the Kabwe tailings project is subject to indefinite delay. Just my opinion, but there it is.

I think Kabwe (i.e. the dump material of the old mine, rather than the Sable plant) will turn out to be the reason for this drop - when all is revealed.
More than the drop in metal prices, I fear some legal or bureaucratic problems with BMR or the Zambian authorities mean that the project is effectively frozen. The silence from JLP on this subject has become deafening.

Hi DropInMonkey!
I can't disagree with a word you've written. A disgusting, shameful RNS - it seems that Dan even expects to be handsomely rewarded (at shareholders' expense) simply because the gold price is high.
Thank God I had a moment of clarity and sold out on Friday. Good luck to all who hold here, but can I mention that over at PAF the (honest and very able) CEO and two other directors have been buying shares on the open market?
Hummingbird is cheap. That much is true. But it's cheap because its management is beneath contempt. So I will avoid again.

Hi Punter!
I think Cora are probably closer to production than you realise. The ore is suitable for a simple heap leach process on site, thus avoiding building a full-scale CiL plaint. And they have already outlined an initial pit shell.
Such an operation still requires some capex, but Cora could easily be in production in a couple of years.
They won't truck the ore to Hummingbird's plant at Yanfolila. It's never economic to truck 2g/t ore that far.
Today's drill results are a bit of a "meh", but the market is being harsh marking Cora down on the basis of them. But then, the market is feeling pretty mean all round so far this week.