Jubilee Metals Share Discussion Threads

[gsg] 19/8/2019 10:39

Probably just Goldi doing the Hokey Cokey.

[deme1] 19/8/2019 10:37

Guman

Because people are selling.

No matter how impresive Leon, Colin and fellow investors think JLP is. the fact remains that there are not enough people interested to gain momentum and get this share price where it should be.

Either that or something is lurking!

[guman] 19/8/2019 10:35

are we heading 2.5p? why

[1madmarky] 19/8/2019 10:34

patience or lack thereof.

[freedom97] 19/8/2019 10:33

Alpal2, the seller is Goldibucks. The 420,535 & 100k showing as sells are Buys. All we need now is an ii to buy the shares he's sold followed by a good RNS to kick start the share price back up.

[kryptonsnake] 19/8/2019 10:32

"How's my 2.7 prediction working out?"

The share price just answered my question

2p next?


LOLsss

[alpal2] 19/8/2019 10:22

Can't blame the MMs for dropping the 'bid' price when there seems to be a big seller at 2.7p. There seem to be many good things coming at JLP but still they sell........

[sleveen] 19/8/2019 09:55

MMs dropped the offer.

[deme1] 19/8/2019 09:24

I can see 2.5p being hit at this rate!

So much for 10p by xmas

When will we learn, Colin quick we need more carrots.

[niloc4] 19/8/2019 08:36

Nice call kryptonsnake. BUT that wasn't such a hard call. Anyone with a brain could have seen that price and lower coming. Leon is a CON. Look at the share price history

[kryptonsnake] 19/8/2019 08:31

2.7 on the bid. Almost at my first target

How's my 2.7 prediction working out?


LOLsss

[sleveen] 18/8/2019 14:16

yes agreed.

[bullster] 18/8/2019 13:43

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My mistake, sleveen.


1.7 Inventories


Inventories are measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale.
The cost of inventories comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.
The cost of inventories of items that are not ordinarily interchangeable and goods or services produced and segregated for specific projects is assigned using specific identification of the individual costs.
The cost of inventories is assigned using the method most appropriate to the particular class of inventory, with the majority being valued on a first-in first-out basis. The same cost formula is used for all inventories having a similar nature and use to the entity.

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[sleveen] 18/8/2019 13:36

1MM

"...Essentially it means the material being transported to Eland has zero book value. Are they attempting to flatter the PGM side?"

Not at all, clearly the WC PGM material is worth far more than the residual FC.

Goldi's reasoning falls apart once you accept WC is a tolling operation.

This was the reason that numerous posters were puzzled by WC receiving about a third of the Cr Conc price.

For example if the price of Cr conc was say $160/t then the Q1 revenue on 73k tonnes (an assumption since JLP didn't own PlatCro for the whole of January) would have been $11.7 but the actual revenue as stated in the table is £3.1/$3.6m. The same goes for earnings.

WC can only be a tolling operation for third party chromite ore as JLP do not own the chromite ore and hence do net get the full $160/t cr conc. The third parties get the rest.

See my previous posts re tolling.

[sleveen] 18/8/2019 13:21

Bullster read Section 1.7 Inventory (not financial assets as above)

[1madmarky] 18/8/2019 13:20

Thanks everyone.

[bullster] 18/8/2019 13:06

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Thanks sleveen for page 53.

Impairment of financial assets



At each reporting date the Group assesses all financial assets, other than those at fair value through profit or loss, to determine whether there is objective evidence that a financial asset or Group of financial assets has been impaired. For amounts due to the Group, significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy and default of payments are all considered dicators of impairment.
In the case of equity securities classified as available-for-sale, a significant or prolonged decline in the fair value of the security below its cost is considered an indicator of impairment. If any such evidence exists for available-for-sale financial assets, the cumulative loss measured as the difference between the acquisition cost and current fair value, less any impairment loss on that financial asset previously recognised in profit or loss is removed from equity as a reclassification adjustment to other comprehensive income and recognised in profit or loss.
Impairment losses are recognised in profit or loss. Impairment losses are reversed when an increase in the financial asset’s recoverable amount can be related objectively to an event occurring after the impairment was recognised, subject to the restriction that the carrying amount of the financial asset at the date that the impairment is reversed shall not exceed what the carrying amount would have been had the impairment not been recognised. Reversals of impairment losses are recognised in the statement of comprehensive income, except for equity investments classified as available-for-sale.
Impairment losses are also not subsequently reversed for available-for-sale equity investments which are held at cost because fair value was not determinable.
Where financial assets are impaired through use of an allowance account, the amount of the loss is recognised in the statement of comprehensive income within operating expenses. When such assets are written off the write-off is made against the relevant allowance account. Subsequent recoveries of amounts previously written off are credited to the statement of comprehensive income.

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[sleveen] 18/8/2019 12:51

1MM

"Exactly, so why take the provision?" Because they are obliged to by IFRS.

[sleveen] 18/8/2019 12:48

Read the Statement of Accounting Policies from pg 53.

[1madmarky] 18/8/2019 12:47

Ok,thank you
Think I get it, storm in a teacup to some extent and could have been handled sooo much better.
Roll on Windsor PGM'S

[bullster] 18/8/2019 12:45

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Goldibucks,

Looking at the quarterly update figures, specifically in the tables, would you say that the fine chrome plant was paid for 50% each, JLP and DCM.

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