Jubilee Metals Share Discussion Threads

[gsg] 13/12/2019 09:48

"Stats SA said PGMs declined by 4.8 percent, chromium was down 2 percent"

[garthgreyling1] 13/12/2019 09:45

Totally agree Tim. Sadly I even have the suspicion at times that the BOD vehemently despise us PIs and actually get satisfaction at this outcome you explain. Leon in particular is a proud chap....all the derogatory remarks towards him on these boards are probably met with silent retribution by his executive decisions and placings. He owns hardly any shares so he couldnt care less...only he whas to wait a little more for his options, which are guranteed a little more when he is able to fund growth through placings without PI interest at heart.

[timhigginson] 13/12/2019 08:54

The current price action is redolent of Dec 2017 in so far as all went quiet until the share placing with Miton at 3.6p. The problem is that for all the talk AND all the progress the share price is still sub 4p.
It is quite possible for the turnover and profits to continue to rocket higher but if the BODs response is to keep issuing shares at way below what is justified by the forward P/E then the size of the business, the turnover and profits could quadruple and yet the share price remain at 4p.
The Directors at present are doing a good job of working for the company but a lousy job in working for the shareholders.
The BOD should focus on the share price When the shares reach a premium then more can be issued but all the issues of the last two years have been at a substantial discount to a justifiable price.Meanwhile, there is a lot of digesting to do to absorb what has already been bought and take some time to find projects in safe jurisdictions. Small bolt-ons should be bought from the growing cashflow.

[boris cobaka] 13/12/2019 08:43

However..
If we still have some large holders looking to complete an exit or reduction the surging markets may force them to expedite should they be planning to invest elsewhere.
Similarly opportunity cost may make others sitting on the fence to bite the bullet and offload in search of faster returns.
Should be an interesting day.

[boris cobaka] 13/12/2019 08:39

Thanks deme

[yangou] 13/12/2019 08:20

"Its beginning to look a lot like Christmas "

[mikebolle1] 13/12/2019 07:43

The elections did my London based property stocks good. All up this morning

[deme1] 13/12/2019 07:12

Well done Boris

[plat hunter] 12/12/2019 22:23

Who's in XTR and why?I see a few from here are, even Deme by the looks of it, despite his despise of the cannon

[deme1] 12/12/2019 18:55

this dog will still slump though!

[robers98] 12/12/2019 15:44

www.proactiveinvestors.co.uk/companies/news/909083/bezant-resources-shares-trend-upwards-following-asset-sales-and-new-focus-on-zambia-909083.html

Interesting to note the recent share price recovery from Bezant Resources PLC (LON:BZT), despite the potentially dilutionary effect of a recent £350,000 raising at 0.14p. The current price is steady at above 0.19p, and that in itself is roughly triple the price the shares were trading at when they hit new lows in the summer. Admittedly, there’s some way to go before the heights of yesteryear are regained, but as the market adage has it, the trend is your friend - so what’s behind the recent uptick?

The answer is that Bezant is currently a fair way into what chief executive Laurence Read calls “an important transitioning period.”

Towards the end of last year the company unloaded its interest in a Colombian platinum and gold project, realising US$500,000 in cash and releasing it from obligation on an asset that was struggling to find support in a market that tended to look more favourably on other jurisdictions.

More recently, and more significantly, it’s also parted with 80% of the sizeable Mankayan copper and gold project in the Philippines, in exchange for sizeable funding commitments and the potential of a US$10mln share stake in a Singapore-listed company that will come into its own after the completion of an already-agreed reverse takeover.

Those two transactions free up Bezant considerably, and the lightening effect has been clear for all to see, and in particular following the disposal of the majority stake in Mankayan.

It turns out that the market viewed Mankayan more of a millstone than an asset, on account of the its size and depth, and the challenges for a small London-based company of making a big asset work in the far-away Philippines. It’s all very well having the resource, but if the market doesn’t believe you’ve got the heft to get it into production, the discounts can be very severe.

This way, Bezant still has a very sizeable stake in the upside at Mankayan, but is now free to focus on undertakings more suited to it, specifically, the development of copper and base metals assets in Zambia.

The company first took this turn in April 2019 when it announced the acquisition of the Buffalo project 300 kilometres north west of Lusaka.

Seasoned investors will note that Bezant’s chairman is Colin Bird, a man with a considerable history of value creation in Zambia, the highlight of which was the US$260mln sale of Kiwara to First Quantum (LON:FQM) back in 2009.

Zambia is a country where the Bezant team feel comfortable, and where they feel they can get things done.

“There are rich pickings still to be had in Zambia, I would argue,” says Read. And indeed, after more than a century as one of the leading copper producing countries in the world, the mining industry remains as enamoured of Zambia as ever.

“They have good infrastructure by and large,” says Read.

“It’s stable, and generally they’ve managed their path pretty well.” What’s more, it’s prospective.

“One of the project types we are looking at is the classic iron-oxide copper-gold formation,” adds Read.

“But there are a lot of different project types in Zambia, which just need the right exploration approach to determine economic viability as feasible development projects.”

To kick things off, Buffalo is likely to be the subject of a limited drilling campaign next year.

But watch out for wider developments: Bezant is also on the lookout for more prospective deals, although Read at the moment is slightly reticent about what form these might take.

“We’re still finalising our strategy,” he says.

The transition phase is now well advanced, but it isn’t quite over yet, it seems.

[scrappycat] 12/12/2019 14:47

mikebolle1,

I think you mean nuclear fission. Sadly, nobody has yet worked out a way of controlling nuclear fusion. If they had, it would solve the world's energy demands for the foreseeable future. Virtually, a limitless supply - it is, after all, the way the sun operates.

[gsg] 12/12/2019 14:19

Agreed PH.

II's have been loading up in advance of the projected earnings hitting the audited accounts. The opportunity remains to buy in under their last buy price.

When JLP show us the money, then we'll see where the share price ends up.

[aceshi] 12/12/2019 14:16

Someone did, cANCer

[mikebolle1] 12/12/2019 13:25

O, dear! Our Mr. Ramaphosa is suggesting that someone sabotaged Eskom's power stations. Does he know that some of them are actually using a nuclear fusion process to generate electricity???

[9tintin] 12/12/2019 11:39

Plat

That would be earnings roughly equalling market cap??

Must be a catch somewhere.

Oh I forgot we are a Birdy company - LOL

tintin

[plat hunter] 12/12/2019 11:29

Buy the discount and sell the premium and you'll be much much happier, I promise.

[plat hunter] 12/12/2019 11:28

That's about right tintin but don't forget to add around £18 million for the chrome that we now get at no extra cost plus whatever might start trickling through from Kabwe.

[gsg] 12/12/2019 10:58

With the metal prices where they are, and Eskom permitting, Leon will have the Eland and Hernic plants dialed up to the max nameplate throughput. Looking forward to a production update.

[bullster] 12/12/2019 10:18

.
.

PGM BASKET PRICE PER OUNCE

30/12/2018 = $1,154
30/01/2019 = $1,172
30/02/2019 = $1,290
30/03/2019 = $1,238
30/04/2019 = $1,204
30/05/2019 = $1,176
30/06/2019 = $1,327
30/07/2019 = $1,372
30/08/2019 = $1,484
30/09/2019 = $1,557
30/10/2019 = $1,650
30/11/2019 = $1,686
10/12/2019 = $1,725
12/12/2019 = $1,762
.
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