Member Info for welloilbeefooked

Bought my previous tranche sold on Monday at 4.08p back at 3.53p - 384,554 shares

Leon sounds pretty upbeat to me and interesting to hear him say that the coronavirus is not having any operational effect on JLP - in fact he says PGM metals are still very much in short supply.

Not holding 3.8 at the moment....:(

Down again today - hope we're near the bottom now and can hold around 3.8p . Any charters out there have an opinion?Problem our production will surely go unsold if Asia goes into lockdown with coronavirus. That's got to affect the basket price short term - was reading last night somewhere that China govt has ordered people to go back to work and less than 30% of people have complied so massive fear out there .

Fear has taken hold across the pond, Dow Jones hammered again today. Looks like a long overdue correction may be taking placing, rational or otherwise. Happy to sit on a large percentage of cash until things settle.

Me too Cape - just sold two tranches - 319329 shares and 65225 which represents about 40% of my holding here. Still exposed to any sudden upside but this Corona thing is getting ugly and the US seems to be waking up to it. I've pared back across my whole portfolio today apart from Hum which looks like a good bet imo as a gold hedge.
AIMHO and GLA

Hi Sharpshooter,
Thanks for the clarification - so, as I thought, the revenue figures (and therefore the earnings figures) in the accounts to the end of December will not reflect the real increase in basket price in the last few months of the year. We'll get the benefit of that in the first half of this year. That might at least partially explain why the average sales value per pgm oz in the second half of 2019 only increased 13% compared to the first half. Someone else here will probably know how much the average basket price rose during that period, but I'm pretty sure it's a lot more than 13% so I think we've got good news coming at in the first 2020 reporting.
GLA

Anyone able to clarify the following taken from the annual report on revenue recognition? I take it to mean that we don't get the "real" basket price until 4 months after delivery, which means we've got plenty of good news coming if I'm reading it right:
the revenue and earnings are only recognized in the month of delivery - this is from the annual report which is on the website now :
"STATEMENT OF ACCOUNTING POLICIES (continued)
For PGM concentrate sales, revenue is initially recognised at end of the delivery month and measured at the fair value of
the consideration receivable. The fair value of the consideration is subsequently adjusted based on movements in the metal
market price up to the date of final pricing, typically four months after the delivery month."

CB buying here today is surely related to the big surge in GLR yesterday? He's heavily invested over there so my guess is a deal has been done - time will tell. Good news for us if it has imo.

They told us a few months ago Kabwe was fully financed, then added at the last placing that some of the cash was going to part fund Kabwe. If there's another placing and they mention funding Kabwe again I reckon that will be it for me.

Remeber that by processing the chrome we are adding to the pgm feed stock so while chrome may be treading water or partially profitable, if you take the overall picture then processing chrome makes complete sense.
Also, many wiser than me are calling this the bottom of the chrome cycle, and if Glencore et al are reducing production in coming months by over 30% it's fair to say the chrome price will rise as stocks run dry.

Billy, I'm pretty sure there's a substantial time lag between production and sales/ revenue recognition. We really need a CFO with a bit of industry credibility appointed here, we're all pi****g in the wind when it comes to trying to understand the numbers.

and I think the confusion over the 5000oz figure is that was the total production for the month before Eland take their cut ?

Billy - in the proactive interview Leon states that there's only 2 months Windsor pgms in the half year figures

Kaiser/Isphaphan,
I agree with you both so not trying to put a downer on it, just think they make a rod for their own back a lot of the time. Why make the statement that Kabwe's fully funded if there's even a remote possibility that things might change. They need to get smarter and more professional in their investor relations.
I am very optimistic on the whole for the coming year though. Multiple projects coming on stream, average basket price massively increased over the last year and fine chrome rolling out - watch this space.

Happy New Year to all,
Let's hope 2020 is the year all LTH's finally get rewarded.
Just been reading through the previous RNS releases and have to say I'm disappointed to see in the last £6.5m placing announcement that part of this is going towards funding Kabwe - we were told previously this was fully funded.
It's a typical example of why every rise gets sold into, there's very little trust around JLP. Let's hope that changes in the coming months.
GLA

I've been here since the start. I don't trade. Never been more confident in an AIM share. The quality of the guys leading this is top notch - that's probably worth the current mcap on it's own .
GLA

Hi Angel,
We won't officially own those assets until Jan 2020 according to the latest info so no way we'll have received any actual cash yet - I'm expecting a major cash boost early 2020 assuming everything gets signed off according to plan.

Thanks Badger - that was my understanding, so we've been raking in cash all year :) And I also think Brian said the Egypt assets which they took on are "highly profitable" so looks like they've potentially made a tremendous acquisition here.

Hi Bynari - I thought the "effective from" date is January 2019 ? I'm pretty sure BL confirmed that as well in an interview in the last couple of weeks.
Hope I'm right on this.
GLA

Where are all the 3p placing punters - would have thought they'd be filling their boots with sells. Methinks this is a humdinger of a strike....