Jubilee Metals Share Discussion Threads

[nelson01] 22/9/2019 17:38

Windsor pgms will take this a lot higher and Kabwe will be the iceing on the cake.

Lol...never thought Goldi would turn into a bitter troll.

[1madmarky] 22/9/2019 16:43

The shard 85/15 split - will have another go at the AGM to see if we can get clarification . Previously at the investors show this year, he would not confirm or deny the stated split . Others were present. But note they have not officially stated them. All we have is a 3rd party report.
Pretty sure all the current split numbers have changed at least once over the course of their history. So perhaps they are all open to negotiation

[1madmarky] 22/9/2019 16:30

Hernic produces approximately 2koz from 40ktpm at a feed grade of 1.6 g/t

Windsor PGM'S will produce 2.9koz from 60ktpm at a feed grade of 3.2 g/t

Now I'm not the best at maths, but I think the 2.9koz is a bit conservative

[1madmarky] 22/9/2019 16:23

From the sept presentation
Process Capacity:
• Targeting PGMs processing rate at average rate of
60,000t per month, producing 30,000 PGM ounces per
annum
• On site as well as third party material from surrounding
areas to be processed at the plant

The second point is interesting, it could be just the 3rd party ore we already process at Windsor. Else additional material to that.

[gsg] 22/9/2019 12:16

Laughable claim. Unless you'r an II with direct access to a market maker.

[sleveen] 22/9/2019 12:05

Agree, JLP are neither big enough nor liquid enough to have "borrow".

[plat hunter] 22/9/2019 11:33

Krypton didn't open a short here..

There's not enough liquidity... He'd need to be a multi-millionaire and a customer of a MM who would just be happy to let him do what he wants for the purpose of shafting him on the margin.

All doubtful.

[lostabillion] 22/9/2019 10:49

Let’s see how things play out between now and year end then we’ll see if Goldi made a good decision in selling sub 3p.

Still can’t believe you opened a short last week Krypton but each to their own.

I’ll be in for more mid week hopefully before the share price accelerates further up.

Actually not bothered if I have to pay a bit more in the general scheme of things.

[plat hunter] 22/9/2019 09:41

If you invested and sold for the Hernic deal Goldi then that probably says it all to be honest.

Not even 5% of JLP's potential processing capacity.

I wish you well but I think you misunderstood the purpose of the Hernic deal.

[kryptonsnake] 22/9/2019 09:38

Goldilocks got out with a nice profit. It's better than being stuck with a paper loss like most. I did warn everyone that Jubilees projects were sub par at best. Nobody listened but Goldi came round to his senses

Hands up who bought some at £1?


LOLsss

[kryptonsnake] 22/9/2019 09:33

I'll go with the latter


LOLsss


"I’ll be on this board until Lostabillion upgrades to a super yacht or goes into a home for retired sailors who’ve fallen on hard times."

[goldibucks] 22/9/2019 08:44

“when did you realise the obvious as you call it?”

Firstly, I don’t think it’s obvious. My original theory was they would layer on new projects and eventually the bottom line would go through the roof.

Over time I realised the existing projects had no legs and they layered on new projects so slowly and at such a tremendous cost to shareholders they were mainly replacing rather than layering.

The key turning points for me was the Shard comment about the 85% profit share on Hernic in their March 19 report and the 80% reduction in Windsor Chrome earnings from Q1 to Q2 19.

The former underlined how awful the Hernic deal was and explained why they’d been spending so much equity and why Leon had never bought shares. On the tin, Hernic was only expected to make a 30% profit on a £13m investment or £4m, DCM was losing money while they had a market cap of £40m.

Would they have achieved a £40m market cap if they’d told shareholders about the 85% Hernic profit share before they acquired Windsor PGMs, Windsor Chrome, and Kabwe?

The Windsor Chrome stock provision was the final straw. I had been concerned that Windsor Chrome looked too good a deal on paper so I was wondering if it was another short term earnings play to inflate the value of their “currency̶1; which is I recall how Colin described their equity a while back. That they got caught out so quickly with a fairly modest decline in the chrome concentrate price 6 months after the acquisition shocked me.

I understood the game they’d played with Hernic, acquire short term earnings and convert the equity into other assets before the 85% profit share reveal. But to spend it on something potentially equally flakey in Windsor Chrome, that was it, I was out. I get the fact they then extract the PGMs from the Windsor Chrome arisings but with Shard putting just a £9m NPV on Windsor PGM, that doesn’t rescue it for me. They are vulnerable to a weak chrome concentrate price because of the carrying value of the tailings they acquired.

“Do you not feel a little silly, holding ramping for several years then selling below the bid?”

Not really. I’ve been investing for nearly 30 years. I’ve seen stocks I’ve sold go up tenfold and go bust. To sell 5m quickly, I had to hit the bid. I sold from 3.1p down to 2.675p with an average of 2.9p. I made £27,000, got my previous £16,000 of losses back with a net £11,000 profit. As investing blunders go, I’ve had worse! ;-)

“do yourself a favour and leave with a shred of decency.”

I’m not going anywhere! :-) I’ve put a lot of effort into understanding how JLP roll and I’ll be on this board until Lostabillion upgrades to a super yacht or goes into a home for retired sailors who’ve fallen on hard times.

[sharenotes] 22/9/2019 08:38

Goldi, should you be looking here when over there – the US Repo market - is showing signs that all is not well in the major financial institutions. For example, prior to the collapse of Lehman, I understand that they found a loop-hole (now closed, hopefully) in accountancy practice whereby, if they took a haircut on the collateral they offered up for cash in a Repo transaction (was it termed Repo 105?), the collateral offered as a security could be posted as sales! I, for one, would be grateful for your take on what you think is taking place in the US right now.

[kennyp52] 22/9/2019 08:14

Bashing again ?

[niloc4] 21/9/2019 18:26

Colins testosterone levels are non existent. Colleen sounds better

[niloc4] 21/9/2019 17:56

Leon says shareholder value is imminent. What will come first: 1. A rerate in the share price or Colin Bird being able to see his Rooster while he Pees.

[aceshi] 21/9/2019 17:55

Sure, 600 mil mcap, is that what Colin told you? And I always believed your "top ups" were referring to the purchasing of more shares.

[nelson01] 21/9/2019 17:54

Same as the other bitter trolls, he needed the money to pay the bills.

[deme1] 21/9/2019 17:45

what justified the market cap before goldi?

seems strange selling just as we are starting to produce profits.
And with kabwe full steam ahead.

[nelson01] 21/9/2019 17:40

Goldi....do yourself a favour and stfu and leave with a shred of decency.

[plat hunter] 21/9/2019 17:22

Goldi you was here for years... when did you realise the obvious as you call it?

Do you not feel a little silly, holding ramping for several years then selling below the bid?

[robers98] 21/9/2019 17:20

Certainly looking a lot better than Thomas Cook.

[nelson01] 21/9/2019 17:06

Move on with your life man.