Jubilee Metals Share Discussion Threads

[sharenotes] 29/1/2020 14:40

Halleluiah!

[kennyp52] 29/1/2020 14:37

Yeh .. big fat dividend to go with it mutley ... I can dream

[aaspell] 29/1/2020 14:36

Hey ho anyhow - £100 grand here or there shouldn't be detracting from the £8 million profit 1st half of year against £6.9 million for the entirety of last financial year.

If chrome goes up - winner winner
If copper goes up - winner winner
If plat stays up and Windsor figures are anywhere near 5,000 oz - winner winner chicken dinner.

On the information to hand and not to say there is nothing horrible lurking in the background the upside has significant potential against the current (known) risks.

Brokers notes ( I assume paid for by JLP) and JLP own propoganda always to be taken with a pinch of aspirational salt.

[kennyp52] 29/1/2020 14:33

Oh and nice of Leon to thank his investors for their patience ... about time you started thinking about giving them some return on capital ?

[kennyp52] 29/1/2020 14:31

Leon and Colin are incapable of providing the market what it needs ... clarity ... and therefore we all have to guess what is going on . They know their production ; they know their sales ; they know their costs . Why therefore are we not getting accounts ? Miners can't be that difficult to put accounts together within a month ? Time for a numbers person to be appointed to get accurate figures out and stop this nonsense which only promotes the argument the business is being run by a pair of spivs . If this is going anywhere near what Leon is touting then get some bloody figures out as to do anything otherwise is misleading the market .... all IMHO .

[sharenotes] 29/1/2020 14:27

It never ceases to amaze me that there are some among us who would struggle to pick a winner in a one horse race.

[bullster] 29/1/2020 14:18

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aaspell,

From the RNS:-

COMBINED PGM EARNINGS £8,299,000
COMB' CHROME EARNINGS £0,169,000

HEADLINE EARNINGS £8,000,000

Can you see the loss now ?

edit..... looks like you've got to grips..... it's about time JLP gave us straight figures rather than jumping from one currency to another and, other criteria .

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[sharenotes] 29/1/2020 14:14

I think you are on to something, aaspell ......

[aaspell] 29/1/2020 14:10

Ah I think its just the way the headline figures have been rounded in the RNS

PGM operational earnings doubled to 8 million (yet in the actual split of figures further down in the RNS it is stated as 8.129 million.

Same as PGM revenue headline is 16 million but is actual shown to be 16.085.

Shard give figures of £8.1 and £16 million so again both slightly rounded from the detailed figures in the RNS.

£8.2 is the combined PGM and Chrome profit £8.129 million PGM and £169k chrome so actually £8.298 (rounded down to £8.2)

looks like its all just approx headlines against defined actuals further down in the RNS rather than "losses".

[billyboy2fromiii] 29/1/2020 14:08

Hi Bullster,

I cannot see where you are calculating the Kabwe "loss" from. Can you explain please. Regards, BB2.

[sharenotes] 29/1/2020 14:03

That's more like it, Bullster!

[bullster] 29/1/2020 14:01

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"To capitalise on the buoyant basket price, processing capacity at Windsor has been increased to in excess of 100ktpm much higher than the originally planned 60ktpm (30kozpa PGMs)".



The planned 2,500 pgm ounces per month/ 30,000 oz per year from Inyoni and Windsor

has been changed to 30,000 from Inyoni and 50,000 oz from Windsor per year, 80k total.


The above good news makes up for this bad:-

" Due to the drastic reduction in vanadium prices, the implementation schedule for the vanadium circuit is under review. Further clarity expected during Q1 2020".

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[aaspell] 29/1/2020 13:46

Hi Bullster,

What discrepancies are you seeing between the RNS and the Broker note?

Also where have you identified the loss at Kwabe/ Sable?

Cheers

[gsg] 29/1/2020 13:41

Leon

"....your balance sheet is not strongly leveraged at this point, we are perfectly positioned to capitalise on the market, on the industries where metal prices are slightly softer with distressed assets becoming available and with our ability to inhouse develop processes, implement and commission them, we really are well positioned to capitalise on such opportunities. And we are actively pursuing such opportunities "

[bullster] 29/1/2020 13:17

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OK,,,, if the RNS is wrong and Shard are correct , KABWE/Sable only lost £268,000 over the six months.

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[sharenotes] 29/1/2020 13:16

Hang in there Bullster – there are a couple of gems amongst the rubble!

[bullster] 29/1/2020 13:04

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Losing my faith in Shard.

Here's what it said in yesterdays RNS:

-- 47% increase in combined H2 2019 operational earnings to GBP 8 million (ZAR 154 million)

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[sharenotes] 29/1/2020 13:00

Complete broker's note here:

hxxps://jubileemetalsgroup.com/broker-notes/

Bullster, you may be able to pick up some more insight into the 'numbers?'

[tel5] 29/1/2020 12:58

Oh well just have to go into hibernation for another 6 months and wait for update!

[tel5] 29/1/2020 12:58

Oh well just have to go into hibernation for another 6 months and wait for update!

[plat hunter] 29/1/2020 12:51

Cheers Skipper..Earnings lag is the key word it seems

[bullster] 29/1/2020 12:48

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I wasn't expecting a 6 month £468,000 loss at KABWE/Sable.

But very understandable for a start-up.

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[the skipper] 29/1/2020 12:33

Here you go guys. A copy of today's note from Shard. Short but to the point:

"Jubilee Metals Group


What’s that coming over the hill….

Jubilee has reported operational results for the half-year ending December 2019. Despite still being in a transitional phase, the numbers speak for themselves. H2 -19 Revenue of £25m is up 74% on H1-19 (£14.3M) but more startling is the 3-fold increase over the comparable y-o-y period H2-18 (£8.2m). H2-19 earnings of £8.2m are up 47% on H1-19 and over a 2-fold increase y-o-y. This reflects the considerable production growth in both PGM ounces delivered and chrome concentrate produced. The effect of the strong PGM basket price is clear in the PGM division, but perhaps what’s even more impressive is the chrome division returned positive earnings despite being tempered by a considerably weaker chrome price. Yes, the key takeaway is a robust set of results, but results that still do not reflect full contribution from the new Windsor PGM operation or the newly “owned” chrome at Inyoni (prev. Hernic). We also hear a rumbling noise that’s getting louder that’s not part of these results at all - the potential monster of Kabwe with ramp-up imminent: Copper (Q1-2020) and Zinc (Q2 2020).


Strong results from JLP despite a number of industry headwinds and a transitional period marked by new projects ramping up. Operationally and financially the company is going from strength to strength. However, the exciting aspect is not so much what the half-year operations update included, but more what it didn’t include and what may be included in H1-2020. Specifically, it didn’t include a full period from Windsor PGM, it didn’t include a full period from newly optimised Windsor Chrome, it didn’t include the full effects of 100% chrome and PGM rights at Inyoni, it doesn’t include further implementation of fine chrome and it doesn’t include Kabwe. Plus of course H1-2020 may bring further PGM price upside and chrome price recovery. We aim to re-initiate forecasting in due course."