Jubilee Metals Share Discussion Threads

[the bull] 17/11/2020 12:04

Whats your target HG

[billyboy2fromiii] 17/11/2020 11:51

Hi, Yes that was at the Proactive Event on 7th November 2019. BB2.

[bullster] 17/11/2020 11:43

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robers98,

Thanks for pointing that out, i've altered my post.

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[highly geared] 17/11/2020 11:41

After c. 3 years after selling out , I’m back in. It’s taken much longer than I envisaged but this business is becoming a highly cash generative business with ability to reinvest and ultimately scale up to £ multi billion size over the next 5 years.

The core chrome/PGM Streams are now well established having gone through some pain in the first 2 years.

The copper tailings work stream will be transformational ; 25,000 tonnes of copper production per annum with a 20 year supply should value JLP at £500 million alone, once fully established.

The tailings and process model is brilliant in that mine Capex and execution risk are removed.

Much will depend on commodity pricing but the next few years look positive, especially copper for the EV Market

[billyusa] 17/11/2020 11:40

If 8,5p gets taken out,10p next? The demand for this is unbelievably strong.

[gsg] 17/11/2020 11:36

1 v 1. 8.4 - 8.5

Cantors driving the bid.

[robers98] 17/11/2020 11:35

Bullster that is not the age. I believe that was the proactive presentation.

[moneyman50] 17/11/2020 11:32

It is so gratifying to see a series of informative posts today based on information available in the public domain and the absence of the dross from our friend Mr Plathunter.Long may it continue

[bullster] 17/11/2020 10:57

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Notes taken from last years Proactive presentation, by Billyboy2fromiii.
Interesting to read what was promised and what actually came about.



Hi,

I attended last night so thought I would share my notes/thoughts...

Upon my early arrival I was told that Leon was in London and was now hoping (but not certain) to attend. Sure enough, Leon was there. Colin still did the presentation (joking it was a treat for a recent birthday).

Updated Q4 2019 presentation was used (packs handed out) which I assume will be on the website later today. To be honest, this Q4 presentation pack is very much based upon the existing Q3 presentation with the odd addition but no new production or earnings figures.

Colin spend most of his time telling the backstory of Jubilee and the opportunities now presenting to Jubilee from this new industry. Some of his comments... "Jubilee have not pushed anywhere near where we are going to go", "Making very serios money", "only the beginning of Jubilee" or to that effect.

Colin spoke of how selective Jubilee are with their employee's, what a great team they have and that how well Leon has done in running the Company since 2010.

Colin batted away generic concerns that projects are too short duration suggesting the opportunities are massive, one billion tonnes of "secondaries" in Zambia alone. First mover position, massive industry etc.

Colin mentioned the chrome price of $137 (all time low). Please read the Shard Broker note as regards the effect an increasing chrome price will have on earnings.

Many approaches from Companies for Jubilee to work with....

Colin suggested the chrome deal's contribution to earnings would be $800K pm ($10m pa) with no capital/opp cost.

Asked about financing the chrome deal he mentioned "extending convertible?" Asked directly about a placing, he said he obviously could not comment on that.

Colin said he and Leon are bullish on platinum. Interestingly said that the fuel cell and not electric cars (interim solution)will be the future, he said his thoughts were backed up by the Chinese. "Talking to people who will eventually want Tjate" but no rush and Tjate will be very valuable in a few years.

Asked about expansion plans, Colin said they are aware of the dangers of too rapid growth and keen to grow within means. Prefer to grow with things closer to home and with things that they currently know about rather than going across the other side of the world into the unknown etc.

Although the actual presentation did not have new numbers, Colin verbally estimated £15m earnings this year, £20m-£25m next year followed by £40m-£45m. When questioned that this may be conservative he said that his figure were not an actual forecast and if brokers/analysts think more then great.....

Colin mentioned 60K-80K PGM oz production next year without being specific.

Copper by the end of this year (I thought this had already started?).

So, as you would expect, nothing new materially disclosed. It is very evident that this is Leon's (and his team) baby and Colin is very happy to let Leon get on with it. I know Colin is not everyone's cup of tea but he presented well, a good salesman and he sold the story very well.

I am very confident to hold here and let Leon get on with continuing his good work. The opportunities here over the next few years are immense.

In addition, Riverfort Global Opps presented earlier in the evening. The used Jubilee as an example of a Comoany they had previously provided finance to (Hernic). They referred to Jubilee in their presentation as AN EXTREMELY IMPRESSIVE COMPANY.

Cup of tea time and I will then post details of my chat with Lean after the event.


I did manage to speak to Leon after the event but time was tight as he had already been told he had to go to get his plane.

Please appreciate that time was tight and he was obviously guarded on what he could and could not talk about...I could not make notes so below is based upon memory along...

Firstly, he is a very impressive person. Extremely confident. I thanked him on his work to date but he said that it was not him, it was him AND his team (Colin also talked of the Jubilee TEAM).

The Windsor update will be next week, Leon seemed surprised that I said I had been expecting it this week. I will not quote the exact wording but I am expecting a very good update on Windsor!

DCM PGM approval still waiting. This, I understand, is down to the authorities having to confirm exact prior ownership(?) but "will not (hopefully) be too long".

Leon said the analyst at Shard had been very astute on a site visit in understanding the apparent excess plant nameplate capacity at Windsor PGM. Please read the Shard Broker note regards this. My understanding is that there may be even more capacity that quoted by Shard! This bit got a bit technical for me, to be honest.

I asked Lean why we never seem to report a PGM basket price and that it is often hard to understand breakdown of figures etc. He said that had been taken on board already. He agreed that previously Jubilee have wanted to keep certain info to themselves rather than shouting about it. However, he seemed to say that the next report will be much more specific and detailed. The need for "secrecy" seems to have passed. He agreed that it was important to people to now understand the Jubilee story.

Leon was then reminded (again) that he had a plane to catch and left.

Just remembered, Colin referred to the Chrome deal as "buying $85M with $16m".

If I think of anything else, I will add later.

Obviously, the above and previous comments are based upon my notes and memory. Please do your own research!!!!

Regards, BB2.

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[sb] 17/11/2020 10:36

Interesting article here from last year interviewing Gareth Owens the BDM for Jubilee. He has a background in corporate finance and analysis which is useful / interesting.

hxxps://mine.nridigital.com/mine_feb19/toxic_tailings_reprocessing_in_zambia


“What makes the Kabwe project interesting from our perspective is that Jubilee is really looking to build an industry out of recovering this mine waste material,” says Owen. “And when I said build an industry I mean international, multi-commodity, mine waste material recovery.

[timhigginson] 17/11/2020 10:30

I think it would be true to say that JLP should keep its accounts in the currency in which it earns its money. For the most part this is USD. All it would need to do if it wanted to repost in sterling would be to hedge USD/GBP.
Russian goldminers listed in London do not seem to treat their plant costs as being rouble assets so engendering the sort of massive changes as JLP are reporting.

I accept that these are not cash movements but are distorting when one considers price/book comparisons or return on capital employed with other foreign companies.

Perhaps the auditors need to review the treatment and change the basis of accounting so as to produce more consistent and meaningful accounts.

[adejuk] 17/11/2020 10:28

shev
that's true
i learned to sell the spike from them
they will recover next year i hope.

[bullster] 17/11/2020 10:23

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SAMANCOR Western Chrome Mine (WCM) have more chrome tailings than they know what to do with them.

WINDSOR-8 anyone.



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[daocana] 17/11/2020 10:21

based on the 1q results of this financial year..jlp are making £5 million profit each month..thats £1.2 million a week roughly..23p fair value come end of year results.so still very cheap at these levels

[billyusa] 17/11/2020 10:18

Did Leon not mention something about TJATE that needs to happen before year end at the last agm? They can't sit with a mining license forever and not get the ball rolling in developing the mine or sell it on to a developer?

[pshevlin] 17/11/2020 10:15

ade, chart sense has little bearing on a company that has been greatly undervalued and which is boosting profits in the way jubilee is doing. Maybe it will be toppy at 15 or 20 but not here where there may be a small retrace but also continual updates to push the price on. Being out is not a good move at the moment. Your problem is that you have beed traumatised by the likes of VRS and IOF. This is not that kind of share.(I hope)

[freedom97] 17/11/2020 10:13

The chartist Zak Mir says 9.5p+

[freedom97] 17/11/2020 10:11

There is a possibility of a large deal being announced before tomorrows webcast, which will give Leon the opportunity to explain in more detail.

[adejuk] 17/11/2020 10:06

yes free
bec it looked toppy then and even more today
once this settles i will buy them back
i'm not talking it down - just basic chart sense to me
i don't mind losing a penny or so
just protecting some capital and making a large gain.

[billyusa] 17/11/2020 10:06

Not if a Tjate sale has gone through, plenty more upside IMO.

[nelson01] 17/11/2020 10:05

Lol......they are all at It

[freedom97] 17/11/2020 10:03

Didn't you say you sold 1.5m yesterday @8p adejuk.

Could be 10p+ in a couple weeks.

[adejuk] 17/11/2020 10:01

so toppy.
has to retrace soon.

[nelson01] 17/11/2020 09:36

The expert on kitco reckons the price of platinum will be $2,500 in a few years