Jubilee Metals Share Discussion Threads

[frogkid] 02/6/2020 09:42

Good morning Avi, just having a rest after brekkers

[bullster] 02/6/2020 09:35

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GIVE US A RE-RATE, AVATAR333.

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[avatar333] 02/6/2020 09:33

Good morning all.

[frogkid] 02/6/2020 08:50

Kippers, kegeree, porridge with dried fruit, Ethiopian coffee. What a life

[deme1] 02/6/2020 08:32

Well buy trades of 350k and 300k gone through.

[frogkid] 02/6/2020 08:27

I can give it a go after brekkie deme

[deme1] 02/6/2020 08:26

Would be interesting to see how many can be bought in one go.

Anyone got funds free in their account to do a dummy buy?

[goingforarun] 02/6/2020 08:25

Hopefully it might mean a second blue day!

[niloc4] 02/6/2020 08:24

Someone wants these shares...you can be assured its not leon coetzer.

[deme1] 02/6/2020 08:22

Can still sell 500k chunks.
Someone wants these shares.

[niloc4] 02/6/2020 08:22

Plat Hunters got plenty of room up his naught to take on more than 1.5 billion shares and still have space for extras.

[deme1] 02/6/2020 08:19

Plat

If Colin reads that he will have to change his underpants!

[plat hunter] 02/6/2020 08:10

Got room to issue another 1.5 billion shares imo

[gsg] 02/6/2020 07:54

deme,

Things have evolved (in our understanding) since the original purchase of Kabwe.

Kabwe is just an infill of a much bigger plan which revolves around Sable. There will be many more deals required in Zambia in order to feed Sable.

That is the business model which Jubilee is following. An anchor deal to support infrastructure, followed by many more deals for throughput.

[the bull] 02/6/2020 07:50

I voted up for you then deme becuase that is what i believe also, but Leon stated very clearly in the recent shareprophets video that aquiring assets was a key strategy so I am expecting more news on that side soon

[frogkid] 02/6/2020 07:25

Hi deme, I slightly disagree here. I like to see the business grow and if opportunities present themselves we need to grab them.Welcome back to the thread Frog

[alwaysevolving] 01/6/2020 22:48

Agree Deme1. Welcome back onto the green by the way.

[plat hunter] 01/6/2020 19:54

5p by Friday anyway

[deme1] 01/6/2020 18:56

No more acquisitions until Kabwe and all other projects are at 100% please.

[robers98] 01/6/2020 18:52

Good find GSG, shows what is out there for sale.

[gsg] 01/6/2020 18:43

One that got away?





Merafe Resources shares leap 9% on acuisition of Unicorn Chrome stake
By Dineo Faku Time of article published 12h ago


JOHANNESBURG – Merafe Resources closed 9.09 percent higher to close at 60c a share on Friday following news that it had acquired a 20.5 percent stake in Unicorn Chrome from Glencore for R32.2 million.

Merafe, which is the world’s largest ferrochrome producer through the Merafe Glencore Chrome joint venture, told investors that it considered Unicorn to be a ‘valuable addition’ to its chrome interests.


The company said that it had sufficient cash reserves to complete the acquisition.

“Merafe considers this acquisition as a long-term strategic investment which will place the company in a better position and ahead of its peers from an operational perspective. Given the cyclical nature of the mining industry, prudent cash management is crucial, especially now during Covid-19 pandemic,” Merafe said, adding that it continued to closely monitor the costs and capital expenditure of the company.

Unicorn owns a UG2 chrome concentrate producer, which extracts chrome concentrate from a tailings stream in the North West.

Merafe said Unicorn’s net asset value at the year to 28 February was R21.2m and the profit attributable thereto was R28.6m.

The company also said the acquisition was not subject to shareholder approval, and it had appointed Tamela Holdings as the independent expert to provide an opinion on the fairness of the acquisition.

“Tamela has considered the terms and conditions of the acquisition and is of the opinion that the acquisition is fair to shareholders,” the company said. It invited shareholders to inspect the terms of the acquisition for a period of 28 days from the date of the announcement.

In March Merafe told shareholders that in accordance with its strategy, it would continue to focus on maximizing shareholder returns in the near term in the form of dividends and would continually assess opportunities to deliver shareholder value.

The company declared and paid a dividend of R100 million for 2019 and said it would continue to manage factors within its control.

However, it was concerned that ferrochrome sales to China were impacted by the export of unbeneficiated chrome ore from South Africa, which was facilitating the growth of a ferrochrome industry in China.

[texaschaser] 01/6/2020 18:38

going bounce of Fibonacci retrace RSI above 200 resistance guaranteed