Jubilee Metals Share Discussion Threads

[frogkid] 29/3/2019 10:59

good point platty, don't know what their previous was so doesn't help i suppose. Fact is we now have insti holdings which makes us much more vulnerable to hostile approach. To think I could have bought the whole company for 11 million just a few years back!

[bullster] 29/3/2019 10:57

.
.

sleven,

Thanks, i'll adjust my post, was rushing.

BUT , it doesn't let augustusgloop off the hook because a bit of our Platcro PGM will make up the difference.

.
.

[plat hunter] 29/3/2019 10:55

That's not all of them Frog..

Miton now have 111 million ther abouts or 6% but we also know they already held from the original Kabwe JV deal as well as taking half of BMR's shares at 2.5.

No TR1 was ever issued though as there total holding never breached 3%

A total of almost 400 million shares hit the register yesterday so there's still at least another TR1 to come

[frogkid] 29/3/2019 10:51

So Miton then, not Glencore

[sleveen] 29/3/2019 10:48

Bullster

"You only need to look at Platcro to see how this one project on it's own can cover all GROUP losses for a full financial year.The chrome side alone, putting the PGM aside is already generating £12 million net profit, well enough to cover FULL GROUP losses"


----->"PlatCro Chrome operation acquired in January 2019 already contributing to group earnings ahead of schedule of GBP0.9 million (ZAR16.06 million) combined for January and February 2019"

£1.5m/qtr = £6m/yr.

[kryptonsnake] 29/3/2019 10:46

Miton added some shares

What about the rest?

[bullster] 29/3/2019 10:39

.
.

augustusgloop,

JLP are doing today what they should have been doing all along.

Yes, it was run on a survival basis, propped up by placings that made up for losses and so long as the board members still made a good living.

The tide has turned.

The placings no longer go to fill in losses, they go to buy assets that generate profits.

You only need to look at Platcro to see how this one project on it's own can cover all GROUP losses for a full financial year.

The chrome side alone, putting the PGM aside is already generating £6 million net profit, nearly enough to cover FULL GROUP losses.
Fine chrome extraction when introduced and 3rd party ore will boost profits further.

I used to be one of JLP's biggest critics, yes it was a sham, yes i did email Leon to tell him stop using ConRoast as a carrot.

I think the turnaround is more to do with luck than the boards business acumen.

But, HEY, if you can't see the difference between then and now, then be gone and let us get on with making profit.

edit......post edited, see following sleven post
.
.

[freedom97] 29/3/2019 10:16

For those that might not have seen the following article yesterday:

"Jubilee swings to interim profit and sees more coming"
"Jubilee recovered its PGMs at Hernic at a cost of less than $400/oz, making it one of the cheapest sources of the metal worldwide"
28 MARCH 2019 - 16:51 ALLAN SECCOMBE

[augustusgloop] 29/3/2019 10:02

nelson,

people have been saying that about JLP for over 10 years -- cumulative losses in that period = over £70,000,000

They only survive by raising money in placings to fund projects that always lose money.

Its a scam.

[nelson01] 29/3/2019 09:59

If or should I say when jlp are making 20 million per year their story will be the same.

[freedom97] 29/3/2019 09:54

For those that use a Chrome browser, you will find the .net link GSG posted will immediately go to another interview when you click on play. I've mentioned this problem a few times in the past that only the .com link works properly for Chrome browsers.

This link works fine:

[plat hunter] 29/3/2019 09:40

Autumn poopants is a loser, clearly very vexed at previous failed ventures at much higher entry points but thanks to him all those accumulated losses that he keeps banging on about will offset my gains on Kabwe over the next 5 years.

Cheers thicko :-P

[sleveen] 29/3/2019 08:19

Goldi...9907

Kudos for your response .

[gsg] 29/3/2019 08:06

Leon Directors Talk quote.

"Our chrome recovery operation we acquired"...."that project has the ability to nearly double our existing earnings in its own right"

[goldibucks] 29/3/2019 07:45

2018 H1 Loss = £438k
2018 H2 Loss = £4,919k

Firstly, your split is wrong. You've taken the P&L loss of £438k for H1 and then split that out of the Total Comprehensive Loss for the full year.

So to correct your split;

2018 H1 Total Comprehensive Loss £71k
2018 H2 Total Comprehensive Loss £5,287k

2018 Total Comprehensive Loss £5,358k

So that makes things look even better for you.

The disparity is FX, impairment, and share based payments.

The exchange differences on translation of foreign operations was a £2,954k loss full year. H1 was a profit of £367k. H2 Vs H1 difference £3,321k.

Impairment reviews are done annually so any cost falls into H2. They have £804k disclosed separately on the face of the P&L under operating profit plus another £622k within operating profit in Note 4 so £1,426k in total.

Share based payments are also something that usually get booked in H2 because companies often pay an adviser to calculate them. Full year costs were £264k per Note 4.

£3,321k FX + £1,426k impairment + £264k share based payments = £5,011k skew in H2 Total Comprehensive Loss.

FX could go either way and impairment only really matters if market capitalisation is asset backed, e.g. property investment company. JLP trades at a big discount to NAV because the market has already written off what they eventually impair. I don't think either are particularly price sensitive.

[deme1] 29/3/2019 07:33

hxxps://www.directorstalk.net/interview-jubilee-metals-group-with-profit-up-274-whats-next-for-the-group/

[sleveen] 29/3/2019 07:14

madloss is just the same

"The actual Ops and the central Business running costs are clearly sucking all available Cash out of the Business if £302k is it..."

----->Claims the £2.6m G&A costs (as they're usually called)are all cash costs and hence reducing JLP net profit.

(Another that confuses the P&L with the balance sheet, whether thru' ignorance or malice, take your pick)

Think EBITDAG&A

£1.2m of the G&A costs are actually D&A, which are none cash. This means that the cash remains on the balance sheet as a current asset but is charged thru' the P&L as the historic investment in tangible/intangible assets are D&Aed over their useful life.

Have that educational tip for free.

[aceshi] 29/3/2019 05:23

Profit is profit and I'll take that as a start in the right direction. But really, let's not get ahead of ourselves. Kabwe is a way bigger project than JLP has previously attempted. Expect delays and even possibly further funding dilution. You are not going to get your 10p or multi bagger any day soon. Like Krypton says, deliver within reasonable timelines and manage the budget and who knows, in a couple of years we may finally get what we have been waiting for.

[eblitz1] 28/3/2019 23:40

Krypton
You will always find something to have a go about you and chopper are out of the same mould I’m sorry you lost money on BMR but if Kabwe is a month late so what at least we have it and it’s going ahead I also think it will ramp up quicker than they say

[goldibucks] 28/3/2019 23:38

“Their cash position will be closer to £2 million”. Krypton, how does £5.8m cash at 31 December 2018 less £2.2m for PlatCro chrome in early January plus a quarter of Hernic and PlatCro chrome cash inflow (about £1m) = £2m? You are the most innumerate poster on this board. Every number you quote is comically miscalculated.