Jubilee Metals Share Discussion Threads

[1madmarky] 10/3/2019 07:36

One of the conditions wrt the license is to employ people (locals) to act as security for the tailings. This is to stop other locals from artisan mining activities. As this is a risk to their health. This will cost JLP very little, so I'm pretty sure we will be employing locals regardless of any other activities on the site.

[kryptonsnake] 09/3/2019 22:52

I heard a soft rumour that BMR watch members are clubbing together to buy out Jubilees 29% holding in BMR

Also Leon was spotted walking around with a begging bowl so looks like a placing is nailed on

[kryptonsnake] 09/3/2019 22:42

Why would they employ when nothing is being built LOLsss. They can't show progress towards production without actually building something

[goingforarun] 09/3/2019 22:32

Are they employing locals? No sign on the website?

[1madmarky] 09/3/2019 21:22

Wrt kabwe, I think as long as they are employing locals on the ground and making progress towards production. Then they will be left to get on with it. It's only if they are sitting on a license and doing Jack to get it into production. Then they could run into trouble.

[plat hunter] 09/3/2019 21:09

Well the licence hasn't been pulled, so I imagine pretty supportive.But you are right, we are left to guess much of it but that's the whole point we're here I suppose. Managed funds just don't scratch that itch do they?I certainly do agree that kabwe will likely drag on for a lot longer than most think. I ignore Kabwe in the same way I do Tjate. Low cost assetsvwith future potential.The real story here is the current earnings and fine chrome reporting, all imminent.

[fireball xl5] 09/3/2019 20:17

That’s all that JLP have told shareholders, how supportive are ZG? They saw value there when revoking the BMR license and it cost to get it back. JLP find themselves in the unenviable position of having cash. It’s possible they might see yet another gift horse.
The ZEMA EIA license will lapse soon, probably doesn’t cover the revised processing anyway. I presume BMR had dealt with all the conditions ZEMA added to the EIA. Then they will require an EIA for the V. The hoops and hurdles of another EIA, mmm and more greasy palms. I hope that they do have friends in high places as they are not normally dissuaded to take on the bigger miners, Glencore, First Quantum, Vedanta and ERG. All have met with resolve.

[plat hunter] 09/3/2019 19:22

There's been several Ebz, We know that the original build terms and production start dates have lapsed because of Sable and we know that ZG are involved with the discussions and supportive of the delays to the original covenants.

[eblitz1] 09/3/2019 17:03

Plat
Where did you hear that the licence is being renegotiated as I have not seen anRNS or heard about it in any video news

[aceshi] 09/3/2019 15:31

That's exactly my point. After all the big talk and ramp up starting, if I'm not mistaken, September 2018, we are now at "the license is currently being renegotiated" so we are presently clueless as to how Kabwe may play out, if at all. Not arguing that a more drawn out approach may in fact be the way to go. Just sick of the same old approach. Big hype around any potential new projects and then prolonged under delivery of progress and hard facts.

[plat hunter] 09/3/2019 13:53

Krypton, you really think that JLP don't have 475k in cash?You're clueless...JLP buy those share back close to a 50% discount to what they were issued at.Takes half a million off the Kabwe bill. Silly not to buy them back of you think about it. JLP need a bigger share price for the next placing.

[alwaysevolving] 09/3/2019 13:22

Plat, that would obviously be backed up with the resolution that was passed at the December AGM to buy back shares (if I’m not mistaken) however how reliable is the source of the soft rumour to which you refer? Cheers

[kryptonsnake] 09/3/2019 13:16

The only way they could afford to buy BMRs shares would be through a placing

Then it would be Jubilee shareholders funding the buy back from BMR

LOLsss

[plat hunter] 09/3/2019 11:52

Soft rumour is that JLP are preparing to clear the BMR overhang and return the shares to treasury for cancellation.An announcement is going to be made by the end of the month. My guess is that you only have up until the 1st of April to load up here now

[goldibucks] 09/3/2019 10:35

“are we building cash?” Cash at 30 June 2018 was £6.4m. Op cash burnt in H1 FY18 was £0.6m. Project earnings for that 6m period were £1.4m. Project earnings for H1 FY19 to 31 Dec 18 were £4.1m. Op cash inflow should be about £2m for the interims or about £1m a quarter. Hernic debt at 30 Jun 18 was about £3m. I reckon they are paying that off at about £0.5m a quarter because if I was the lender I’d want my money back before any profit share kicks in. They paid £2.2m cash for PlatCro chrome and borrowed £4.6m. Let’s assume they repay that at £0.5m quarter. It’s buying them at least another £1m of cash a quarter, i.e. about double the cash it’s generating. So cash at 31 Dec 18 should be £6.4m b/f less £1m Hernic debt repaid plus £2m op cash so about £7.4m, i.e growing to answer your question. Roll forward to 30 Jun 19. £7.4m b/f cash less £2.2m PlatCro chrome cash payment on 7 Jan 19, less £1m PlatCro debt repayments H2, less £1m Hernic repayments H2, plus £2m H1 Op cash repeated, plus £2m new PlatCro op cash, is £7.2m, i.e about cash neutral but about £2m of extra net op cash less debt repaid per year bolted on from PlatCro chrome going forward. When you add PlatCro PGM op cash from H1 FY20 to 31 Dec 19, cash will rocket. I’ve ignored any extra cash from DCM and higher PGM prices at Hernic. Will assume that covers cash outflows I’ve ignored like the DCM fine chrome upgrade. JLP shareholders should ignore the share price weakness and hold their nerve. The core business of Hernic and PlatCro is rock solid. I’m sure there will be placings to fund future growth but it will be to buy earnings and hopefully will be skewed towards debt and not equity now they can cover their running costs. I expect an interim loss before tax of £0.5m-£1m and a full year profit before tax of £1m-£2m excluding FX and any impairments.

[goingforarun] 09/3/2019 09:46

Bodes well for earnings...just need the RNS!

[bullster] 09/3/2019 08:56

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PRILL

PLATINUM = 49%, @ $815 = $399.4
PALLADIUM = 40%, @ $1493 = $597.2
RHODIUM = 9%, @ $2850 = $256.5
GOLD = 2%, @ $1298 = $26.0


PGM BASKET PRICE PER OUNCE

12/12/2018 = $1,120
07/01/2019 = $1,155
11/01/2019 = $1,162
17/01/2019 = $1,171
18/01/2019 = $1,188
29/01/2019 = $1,164
31/01/2019 = $1,185
13/02/2019 = $1,184
16/02/2019 = $1,207
18/02/2019 = $1,217
19/02/2019 = $1,232
20/02/2019 = $1,246
22/02/2019 = $1,255
25/02/2019 = $1,274
26/02/2019 = $1,291
02/03/2019 = $1,292 (plt:$857,pld:$1525,rhd:$2620,gld:$1292, /ounce)

09/03/2019 = $1,279

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[plat hunter] 09/3/2019 07:37

Tim.The licence is currently being renegotiated, there are currently no covenants to service.

[timhigginson] 09/3/2019 04:55

Plat.
Within the license to which you refer what if any are the capital commitments or timescales for production targets to which JM are currently obliged?

If we knew the quantum of JM's obligations it would assist in knowing if any (my) investment in JM is realistic or if JM is wildly over committed.

[deme1] 08/3/2019 18:32

"i feel suitably informed and the longer the sable discussions go on for the better imo as we're building cash, which will be needed to minimize dilution if Sable is a no go".

are we building cash?
where have you seen that RNS?
JLP are yet to declare a profit!

PR is a shambles.
they are quick enough to jump the gun and shout from the rooftops about talking to big boys and the now infamous "kabwe update as promised in Q4" yet when all does not go to plan they simple dig their heads in the sand and hope for the best.

#Lemons.
#frogkid-should-have-waited

[plat hunter] 08/3/2019 18:07

Tim

I remember rightly we received the conditions of the license on renewal following the Blue Square saga.

The deadlines stipulated for the purpose of servicing the covenants lapsed as a result of Sable discussions which the ZAM gov are currently part of.

Contrary to aceshi's comment, i feel suitably informed and the longer the sable discussions go on for the better imo as we're building cash, which will be needed to minimize dilution if Sable is a no go.