Jubilee Metals Share Discussion Threads

[plat hunter] 07/8/2019 09:54

Glencore RNS is out but looks ike they've wellched on updating investors on the plan for Mopani until Decemeber now.

"However, our African copper business did not meet expected operational performance. We have moved to address the challenges at Katanga and Mopani with several management changes as well as overseeing a detailed operational review, targeting multiple improvements to achieve consistent, cost-efficient production at design capacity. Our teams have identified a credible roadmap towards delivering on the significant cashflow generation potential of these assets, at targeted steady state production levels. At Mutanda, we are planning to transition the operation to temporary care and maintenance by year end, reflecting its reduced economic viability in the current market environment, primarily in response to low cobalt prices. We continue to progress studies on the sulphide project, having the potential to extend operations for many years, and anticipate being able to provide an update at our Investor Day in December."

[plat hunter] 07/8/2019 09:49

Krypton, you need to check the trades over a rolling 5 day period and reconcile them manually as they're all off book.

You don't however strike me as someone who undertakes rational research before they punt, comment or makes assumptions.. So I'll just continue to correct your foolish remarks whenever they present themselves.

[bullster] 07/8/2019 09:35

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When METOREX owned Sable Zinc they purchased copper concentrate from a number of suppliers throughout Zambia and the DR Of Congo.

METOREX was producing the annual equivalent of 2,912 tonnes of copper and 16 tonnes of cobalt, in 2011.

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[kryptonsnake] 07/8/2019 09:32

Where are all these 3p buyers Platts?

Only one I can see is for 12k shares


LOLsss

[bullster] 07/8/2019 09:19

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It's all about the byproduct that is cobalt, left behind in the sludge following copper refining.

Copper is not a relatively expensive metal so if you don't own the stuff in the first place, you are not going to make much money toll refining copper alone.

The acid will be a boost also as the copper concentrate contains around 20% sulphur.

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[aceshi] 07/8/2019 08:50

Is it out dated and irrelevant that this company, to date, has never documented an audited profit? They continue to over estimate potential production and profits and are unable to convert projects into the jam that has been sold to shareholders. Please, "great share to trade" what utter rubbish. If JLP suited ones criteria of a tradable share, you may as well conclude that almost any share is great for trading, as long as you get your timing right. Shhh, is that the CB confetti cannon I can hear rolling out in the distance? Lol

[bullster] 07/8/2019 07:59

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BMR receive 5% royalty at Kabwe the moment there are earnings to be had. It's not clear yet whether the royalty will change from 12.5% to 11% upon JLP recouping certain sums above investment, it depends on investment going above $16M.

As usual, the wording in the RNS is not clear, i am assuming the 5% royalty is substituted for the higher one and not in addition to.

The change from 12.5% to 11% occurs in the share ownership of the Kabwe asset, so would in turn correspond to the royalty payment. I am reading it that JLP can buy all the shares in Kabwe and BMR will still receive a royalty payment.

What do you think ?



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[1madmarky] 07/8/2019 07:29

GSG - agreed. By not having the history of mining and by playing with a straight bat. JLP should do VERY well in Zambia.

[gsg] 07/8/2019 07:04

IMO, in the short term, the copper feed will be coming from Mopani and Konkola stockpiles, as both are currently shut down for different reasons.

edit : In including the copper line at Sable, Jubilee should be scoring some serious goodwill with the Zambian government, as their copper tax revenue must be taking a hit.

[1madmarky] 07/8/2019 05:50

Robers- looked at it the other day... too far away and on unmade roads. So unless there is a train line nearby I don't see that as an option. AIMHO of course.

[robers98] 06/8/2019 23:34

1MM, what copper project is it that XTR are involved with!!!

[plat hunter] 06/8/2019 22:06

Krypton.. we'll be processing copper before Kabwe even provides it's first test feed by the looks of it.

No royalty for BMR for years, if they ever get one

[1madmarky] 06/8/2019 21:58

Still no idea where the copper is coming from though. But at least the copper price is consistent. Just saw Glencore will be closing the world's largest cobalt mine at the end of the year. Tis on Yahoo finance, could not get a link. So cobalt would be one to get into once the dust settles.

[kryptonsnake] 06/8/2019 21:56

Jubilees projects are poor. Kabwe earnings won't hit the bottom line for another year so don't expect any good financial reports in a hurry

You can expect more placings and cash burn from debt repayments while you wait. And zero shares bought by Leon

I'll buy back in at 2p


LOLsss

[kryptonsnake] 06/8/2019 21:53

Goldi locks moved his money into WRES and Galileo expecting a better return


LOLsss

[plat hunter] 06/8/2019 21:25

What was disappointing for me was the margin on the chrome. No where near the magic 40% that see on the PGM's.

I suppose the clue is in the name 'Fine' and goes to show that the chrome project is a volume game and JLP will be judged on their ability to make the most of the ramp up coming out of DCM over the next couple of years.

Offset some what by the copper line coming on stream first. Now that is interesting, Sable copper capacity is enough to transform the share price here alone.

[1madmarky] 06/8/2019 21:22

Leon was VERY cat with the cream when talking about kabwe. Lets see what the copper brings.

[plat hunter] 06/8/2019 20:45

I think you'll be hard pressed to buy them back cheaper than that Goldi. Good luck though

[1madmarky] 06/8/2019 20:33

Goldi - don't think the fine chrome made money until June IMHO so that was nothing but a drag for the first half. Also, wasn't the chrome price down in Q2?

[goldibucks] 06/8/2019 20:05

I sold 1.6m at an average price of 3.1p. Q2 19 chrome earnings were down over £1m on Q1 19. The disclosures under the H1 2019 Chrome earnings table about negative stock value adjustments and management service charges don’t explain what is going on. Management service charges could be transfer pricing / tax related but something appears to be inconsistent between quarters.

I don’t understand how they could say PlatCro Chrome was contributing ahead of projections as late as 5 June when projections were 5.5m USD or £4.5m GBP a year. Ahead of projections would be more than £2.25m, they reported less than £1.6m for H1 2019 and £1.3m of that was in Q1 19. In the 10 July project update they didn’t mention PlatCro Chrome. All of this against a backdrop of combining Chrome project earnings and switching from 3m to 6m reporting.

With DCM losing money last time we saw a separate split of project earnings, Hernic flatlining in spite of strong growth in the PGM basket price, and PlatCro Chrome heading south after a promising start, I’m starting to wonder if Colin can maintain an erection for longer than Leon can maintain profit growth in one of his projects.

[1madmarky] 06/8/2019 16:37

You're a hard businessman there tim!

Don't disagree with the sentiment but as BMR need cash now it's a good opportunity to rid ourselves of the royalty.
GLR wise, they could hang on for a long time if they needed to plus do we really want to start digging the stuff up? Far better to be a financial or processing partner. Avoiding the mining risk but having a claim on the resource if things don't go to plan.

[timhigginson] 06/8/2019 16:27

Although I thought we should have dumped BMR when it was found that they did not have the Kabwe licence we did not and ended up with 29% which in itself gives JM 29% of the royalty. With the imminent placing by BMR for Montesuma JM should not only take up its rights but buy any shortfall thus probably raising its stake to over the level required to force JM to make a takeover offer. This would be far cheaper than waiting and then trying to buy out the royalty.
The alternative is to refuse to take up any shares and to ignore the BMR situation and let the royalty occur as and when. After all the royalty only kicks in when JM is well into profit on that deal. JM can get on with other less involved projects in the meantime.
If GLR is such a good opportunity for JM then it should be bought for cash now while the market cap is tiny, or again leave GLR alone and get on with finding a new project in a safe territory. It seems GLR ain't going nowhere without JM so JM can sit back and take its time.

[kryptonsnake] 06/8/2019 16:23

Just sold my Jubilee shares to buy more WRES. It's going to blow 0.75 here we come

LOLsss

[kryptonsnake] 06/8/2019 16:17

WRES outperforming Jubilee on the day

Where's this placing Leon?


LOLsss