Jubilee Metals Share Discussion Threads

[bullster] 20/5/2020 09:56

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Plat Hunter,

The fine chrome removal at DCM has been going on for over 15 months, we have practically removed it all.

We earned around $144,000 from it.

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[fozdad] 20/5/2020 09:52

Bullster, didn't they try that approach early on in the project but couldn't get a price that made it worthwhile?

Having said that, the material should now be ex fine chrome and therefore have a greater percentage of PGMs

[deme1] 20/5/2020 09:51

As Bullster mentions

Leon thinks that sitting on inventory is a good move whilst tapping the shareholders for funds to move other projects forward.

INVESTORS get together and put pressure on LEON to monetise the PGM rich tailings at DCM.
Either truck it to a near smelter and get them to refine it! Or sell it back to the DCM owners for £15 - £20Mil.

[plat hunter] 20/5/2020 09:50

Bullster... how much do you reckon we'll make from moving the fine chrome.I'm guessing it's nowhere near 23 million

[kryptonsnake] 20/5/2020 09:39

How can DCM be dead?

Colin said it's in the bank folks


LOLsss

[1madmarky] 20/5/2020 09:29

Plat, just be glad Leon's the tenant... if it was my girlfriend then all that would be saved would be cake!

[deme1] 20/5/2020 09:28

Metals holding strong. The only thing that is stopping this from diving IMO.

I like how Leon said that this FC move would not financially effect JLP. Failed to mention the reason for this is that DCM never made any money anyway!

[bullster] 20/5/2020 09:20

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We need to truck the 850,000 tonnes of pgm rich tailings to a nearby platinum miner.

They can get a license to process it for us.

Twickenham , for instance or Marula.

A 85-15% split seems to be an industry standard.

That would still leave JLP with over $23,000,000 in earnings.

Stupid Leon thinks it's good to have all that money tied up in inventory .

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[plat hunter] 20/5/2020 09:16

Exactly froggy, IF DCM was a struggling boozer that mysteriously burned down at 2am, Leon would be the tennant running out saying that he saved the Kopperbergs whilst leaving the safe full of Friday nights takings behind.

[frogkid] 20/5/2020 09:13

It's only the plant that is moving though. Tailings dont move ? This is back to the old days of smoke and mirrors.

[bullster] 20/5/2020 09:09

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We own the rights to extract the minerals.

BUT we dont own the full values at DCM.

50% of chrome and 67% of pgm's.

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[niloc4] 20/5/2020 09:07

Losta is more likely to be tossing off than topping up. Another CON roast

[niloc4] 20/5/2020 09:05

Leon never gives the full honest detail.

[frogkid] 20/5/2020 08:59

Thanks Bullster, at least we own the rights. Maybe we could get bought off!

[bullster] 20/5/2020 08:58

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It's quite simple, frogkid.

No more mining at DCM for foreseeable future.

But can truck in 50,000 tonnes max, per month, of 3rd party ore.

3rd parties truck out their concentrates.

JLP keep the tailings, which is less than 5 tonnes

Can't see evidence of 3rd party ore growing the 850,000 tonne tailings dump.

No need for fine chrome machinery with a capacity of 25,000 tonnes of tailings per month.

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[deme1] 20/5/2020 08:50

Looks like Losta is topping up

[1madmarky] 20/5/2020 08:46

Plat _ we still don't have a license for the PGMs at DCM. Also it's a relatively small project that we can execute once we have a license. If we could pick up another couple of million tons locally then it would offer more of a return so build a full plant. As pointed out 800,000 tons at 6g/t or so is not to be forgotten.

[bullster] 20/5/2020 08:40

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74,000 pgm ounces contained in 850,000 tonnes of tailings at DCM.

67% belongs to JLP after capex retrieved.

Estimated capex $9,000,000.

74,000 pgm oz multiply by todays $700 per oz earnings is $51,800,000 (BBI $1,700)

$51,800,000 minus capex of $9,000,000 is $42,800,000

67% JLP share of $42,800,000

$28,676,000

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[deme1] 20/5/2020 08:28

From November 2019 RNS

"Equity Placing to Support Targeted Growth

Jubilee Metals Group Plc ("Jubilee" or "the Company"), the AIM and Altx traded metals processing company, is pleased to announce that the Company has raised GBP6.49 million (ZAR 124.45 million) (before expenses) through a placing of 162,208,900 new ordinary shares in the Company ("Placing Shares") at a price of 4 pence per share (the "Placing"). The Placing Shares represent approximately 8.0% of the enlarged issued share capital.

The proceeds of the Placing will be used towards the completion of the chrome and PGM transaction at the Company's Inyoni Operations as announced on 24 October and 5 November 2019 and to implement the Company's targeted expansion plans which includes the Kabwe zinc, lead and vanadium refinery project in Zambia, and the roll-out of the Company's successful fine chrome solution at its DCM Fine Chrome Operations to all of its operations, including Inyoni and Windsor"


Jubilee raised £6.49 million
Some of that money was to introduce fine chrome at Ioyoni and Windsor.
Now all of a sudden we are moving the fine chrome.

1. Why raise raise some of this money for fine chrome when we were just going to move the DCM unit (I suspect it is just that easy for them the issue shares, they just don't care)

2. This was in Novemeber 2019 - What the he'll have they been doing for the last 5 months reference the fine chrome plans for both sites! (I do not suppose that JLP will use whatever cash they have left over from the placing, that was meant for fine chrome, to buy back shares that they did not need to issue!)

[plat hunter] 20/5/2020 08:08

100% my sentiment Froggy.We're fortunate that expected earnings don't include dcm pgm's, however that doesn't mean we should just forget about them.If indeed there is a pgm dam with almost 30 million quid in then I would have thought that would have been the priority and quote disappointed that it isn't

[frogkid] 20/5/2020 07:31

Been trying to get my head round this DCM plant move. I get unsettled when something pops up unexpectedly like this. I dont think the RNS makes it clear enough what happens to PGM tailings. That said I do quite like the fact that we have not been afraid to make this move and to be fair to the board we are briefly on track (we assume) to make some decent profit this year. Providing the CV doesn't balls it all up for us. I would like to see positive progress at Kabwe and clarification on PGM tailings at Dil and then I will be confident in pumping some more cash in here. Might drop Leon a line.

[1madmarky] 20/5/2020 05:40

Platinum, palladium and rhodium all going in the correct direction :-)

[deme1] 19/5/2020 20:45

Dow getting hit now.

Sub 3p tomorrow.

[timhigginson] 19/5/2020 19:07

Whatever. We know that JLP profits for the year to 30/6/2020 will far exceed the real profit for 2019 that is to say removing the write back from the 2019 numbers.With what is happening in Kabwe and the full year figures for the PGM's the year to June 2021 will show another large improvement.

To solidify the companies claim to be a reliable growth company and so command a premium the company now needs and additional purchase of circa 40m to be contributing ing 2021/2.