Member Info for TigerByTheTail

I don't think anybody has posted this link here, so I will. This is Dr. Forster on Cora's recent exploration activities. As always, he is very impressive:

https://audioboom.com/posts/6968217-cora-gold-cora-and-malcy-covers-a-selection-of-oil-gas-stocks

(For those puzzled by this link, Hummingbird own 34% of Cora, and one of Cora's discoveries, Tekeledougou, is only 8km from the Yanfolila gold plant).

Yes and no, Johnpwh.
Yes, local labour costs may fall in $ terms.
But, no, it's not that simple. The fear will be that Erdogan imposes currency controls, meaning that the company can only sell its gold for rapidly devaluing Turkish lira rather than US dollars. That would be crippling for Ariana. There is also a good chance that a fair chunk of the Turkish banking sector will collapse under the current stress, and that can't be good news, either.
All in all, it's very hard to value Ariana fairly until the current turmoil resolves itself.

The way I see it is that this will be a quiet week for Vast.
Romania is on holiday, and I don't see how the licence can be issued when nobody is at their desk.
And, IMO, not much will happen in Zimbabwe until the new government is officially installed.
So perhaps we should all just take the week off as well?

Turkey's lira literally collapsing as I write this. Possible full-scale emerging markets crisis developing.
I'm not quite sure how this plays out re: gold, but things are changing quickly out there!

Hi PensionDeficit!
This is an interesting question and I don't know the answer. I would be grateful for clarification from RBW as to how the TechMet beneficiation plant and the existing ThyssenKrupp offtake deal will mesh together.

Well, if the impatient want to sell up, I'm happy to buy as the price drops, and to keep buying. FWIW, 56p is my next "buy" price.
And, yes, of course, the BP licence will turn up in the next few weeks.

Yep, I'd also mark TheWeeble's post down as blatant deramping in search of a lower entry price.
Kabwe, of course, is far larger than Hernic. The potential profits from it are measured in the hundreds of millions of dollars, not the tens of millions. JLP now own a minimum of 87.5% of Kabwe (actually, effectively more), and in the last interview Leon Coetzer was very specific about having Zambian government support.

Yeah, I'd like a few pictures of the big new yellow trucks and excavators as well. I think it comes from playing with Tonka toys when I was a boy...

There is some serious buying going on this morning, but so far it's not enough to move the price.

Hi Frank!
I agree with your analysis.
But I also wonder if many of the "sells" aren't the result of Price Waterhouse liquidating the holdings in the defunct Beaufort P.I. share accounts (there were some 15,000 of them - the process should be complete by September).
Has the price has been pulled down for an institutional investor to take advantage of these forced sales?
If so, it stinks. But there's nothing we can do about it.

Placing complete at 12p.
5 directors bought shares, including the CEO and the Chairman.

Hi m@Aim!
I'd put a far more positive spin on these developments.
Downstream processing would add considerable value to the business. This is a good deal for Rainbow.
The change from Gashirwe to Murambi (for the second mining area) was an upgrade (Murambi has twice the narrow vein strike length). Presumably, RBW have explored further since then, and they believe Gomvyi is also a good prospect, and better than Gashirwe as well.
There wasn't a lopolith at Kiyenzi, but the breccia is a find in itself, if less valuable. I'm looking forward to further drill results from that.
Finally, the directors are putting in another 0.6m quid into the business. Hardly a bad sign.
Anyway, I've added a few at 12.1p, because I think this news may start off another upward trend in the SP.

So spoke the company's PR agency.
A complete joke given the share price decimation here, and an insult to all shareholders who have lost money.
Larry Johnson a man without a reputation. Why do you think he left Kemet?!?

I'd highly recommend listening to the call once it is posted on the website. For now, here's my quick summary:
1. Leon Coetzer very impressive, especially in the section where he laid out the broad company strategy for Jubilee Metals. The end game would appear to be a metals recovery partnership with a large global diversified mining major - possibly that would involve a buyout. (BTW, copper recovery again received a couple of mentions.)
2. On Kabwe, LC was very clear that the Zambian Government are giving them "full support" and that they have approved the revised project timelines. At one point he made it sound like the Zambian Government may have insisted that Jubilee take full control of the Kabwe project. Jubilee have also set up a technical centre in Lusaka and are involved in training university PhD students.
3. Zinc circuit at Kabwe should be complete by April 2019, and then the lead circuit should be complete 3-4 months after that. Vanadium will come last.
4. Zinc ore from Star Zinc will be processed at Kabwe when it becomes available (good news for GLR!)
5. LC didn't answer questions about throughput at the new Kabwe plant, but he made it clear that it will be much larger than BMR's planned plant. No profit estimates or anything like that.
6. LC also made it clear that Tjate was either up for sale or that JLP were seeking a JV partner (presumably with a free carry for JLP).
7. There was also a good deal of useful info on the platinum / chrome projects.
8. Finally, LC made it clear that JLP was following a rapid growth strategy, and that there would be no dividend payouts in the near future (that's fine with me!)

"It will be harder to develop new lithium mines than people think" - indeed! I think Bacanora's own financing struggles prove the truth of this.
Bacanora is almost a binary play now. If you believe that they will get the mine built, by hook or by crook, then it's a stonking buy at this price. If you don't, then it's way overpriced. For myself, I'll wait for the conference call and decide after that.
(As for EMH, if BCN are having these difficulties, they've got no chance!)

Hi Rosewall!
I can't agree with that. It's like saying that the stock market isn't forward looking.
We're talking about potential profits from Kabwe which are roughly a magnitude greater than those due from Jubilee's current operations; the market will inevitably start to anticipate that and factor them in, even at a heavy discount.
At least, that's my opinion!

Hi Jibbo!
It's best to ignore Lurker - he's a fantasist with a grudge against Hummingbird. He's already been "exploded" on ADVFN so now he's come here. Let's call the move "the reverse Border Terrier".
I can think of things to worry about re: Hummingbird, but Lurker's posts and claims fall somewhere between "ridiculous" and "malicious".

Questions submitted for call tomorrow - let's hope we get answers to as many as possible.
Frankly, I expected more of a share price lift today - at least back to 3p! Perhaps we'll get that tomorrow as well. BMR / Kabwe has been a long and messy saga, and maybe it will take some time for the market to realise that JLP are now well on their way to being a much more valuable company than before.

Yes, I'll try (or let's try) to ask about Star Zinc as well.
One more question of my own as well:
6. As BMR have no other source of income, we can expect their 4% shareholding of JLP to come onto the market in stages in the future. Have you made, or can you make, arrangements for these shares to be taken up by an institution, or otherwise make sure that the disposal is orderly?

Sidebar - I think you just hit the nail square on the head.