Jubilee Metals Share Discussion Threads

[bullster] 21/11/2020 12:44

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billyboy2fromiii & GSG,

Have listened to it now.
Twickenham definitely mulling prospects of a disposal to someone.

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[billyboy2fromiii] 21/11/2020 12:09

Hi GSG,

The question asking for an update on Twickenham is at 1;02;08. The answer was that a process is underway regarding disposal and that there is some interest and progress expected in second half of 2020 is at 1;03;23. I will try to add link which is.....

.......

Regards, BB2.

[gsg] 21/11/2020 11:49

My machine won't allow me to post a youtube link for some reason, but if you put
"Anglo American Platinum Ltd AGPPF CEO Chris Griffith on Q4 2019 Results"
into youtube it comes out top.

[bullster] 21/11/2020 11:41

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GSG,

Can you post the link ?

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[gsg] 21/11/2020 11:15

bullster

In relation to Tjate, it may be worth listening to a portion of the Amplats conference call recorded on 18th Feb on youtube. In the questions from the HSBC analyst to the CFO as well as the CEO Chris Griffiths, there is a really interesting question re Twickenham, and an even more interesting answer. From about the 1.02.30 hour time mark.

Can't seem to post the link for some reason, however the youtube heading from a company called Palette is
Anglo American Platinum Ltd AGPPF CEO Chris Griffith on Q4 2019 Results

[gsg] 21/11/2020 10:58

kilgallp & robers, no problem. I'm glad it helped.

[robers98] 21/11/2020 10:58

Yes GSG thanks for the clarification.

All looks good for jlp, keeping an eye out for the webcast getting posted so we can have a relisten. Leon certainly went a bit off track when commenting about Tjate.

[robers98] 21/11/2020 10:51

With the new chrome contracts in place and as a number of chrome plants are not going to be running at capacity until early next year. It will be a while before we can clearly see the chrome future contribution to profits.

As billyusa we are eating into slps lunch. The more ROM contracts we can get up and running because we process the material 1st time to a better % recovery. Eventually the processor of choice we be clear for all to see.

DCM news before xmas and official clarity on where Tjate stands in negotiations. Should see jlp with a re-rate in advance of the copper lines increasing volume. On the recent webcast I did submit a question on DCM which didn't get a reply, so could be close at hand. Imo

[kilgallp] 21/11/2020 10:29

Many thanks for that explanation GSG.

You learn something new every day!

[bullster] 21/11/2020 10:17

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Goingforarun,

For anyone who doesn't understand averages, taking the BBI for instance for the full year to 30/06/20.
Add all 12 month end BBI figures together and divide by 12. = $1,744
The same for the 4 months after 30/06/20, add together and divide by 4 = $2,196

Up 25.9% so far.

Up 30% to 40% for the full year is more likely .

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[gsg] 21/11/2020 10:03

PH, Cantors seemed to take the lead for ages and be driving the price. They still are a good indicator, especially when they immediately switch positions from one side to the other. Maybe their line of stock has dried up a bit. Different mm's seem to come to the fore, dominate for a while and then join the pack again depending on their access to stock.

No worries Losta and billyboy

[billyboy2fromiii] 21/11/2020 10:02

GSG,

Thank you for taking the time with that detailed reply. I understand more now what is going on behind in the background. Lets hope we see 9 v 1 on a regular basis!!! BB2.

[goingforarun] 21/11/2020 09:06

Bullster, nice analysis and providing further evidence of how JLP are benefitting from the higher BBI even if producing the same ounces! In terms of net earnings isn’t the BBI up by 50-100% on the 2020 results?

[lostabillion] 21/11/2020 08:58

Thanks GSG

[plat hunter] 21/11/2020 08:56

Who's the one G... Cantors?

[gsg] 20/11/2020 20:48

billyboy.

Regarding Level 2 stockmarket data.

Level 2 is a format which refers to the full depth of information available in the markets including market makers' quotes, the quantity of stock they are quoting and the size quantity of buy/sell limit orders waiting to be filled in the market.

In Jubilee's case there are a stack of nine market makers providing a price to buy (bid) for your shares and there is a stack of the same market makers looking to sell you shares (offer), the difference between the bid and the offer being the 'spread'. The quoted share price is the mid price of the spread.

Once an mm has exhausted their stock of shares on the buy or the sell side they move off the head of the stack leaving other mm's on the buy or sell side. Similarly if an mm takes in a load of Jubilee shares they may come off the top of the bid stack and may position themselves on top of the offer stack at the most competitive price as they now have stock to sell.

So if L2 is 1 v 1. There is one mm on each side of the spread at the top of the stack. If either of these mm's folds their position the price could move up or down.

If L2 is showing 5 v 1, then there are 5 market makers bidding for your shares and 1 market maker on the offer (wanting to sell you his stock of shares), then there is a greater probability that the price will move up, once the single mm's on the offer shares have been sold into the market. The mid price could also move if one of the 5 mm's on the bid decided he wanted to outbid the other mm's because they are running light on stock. The mm would then raise his bid price in order to be alone on the bid and L2 would then move to 1 v 1. The spread would tighten and the mid price would move.

There are lots of other intricacies and nuances you can read into how certain mm's behave, which takes a while to get the hang of, however that is the basics on the L2 for Jubilee.

Unfortunately I don't know how to post a screenshot of my L2 screen, however there is a link on the advfn header providing graphics and great explanations of their L2 pages.

Here is the stack of mm's who trade JLP. Their quantities are showing as zero because the market is closed, however the normal market size each mm quotes is between 150k and 250k of shares. So L2 closed at 1 v 1 with the market maker Winterfloods alone on the bid at 8.4p versus Peel Hunt alone on the offer at 8.5p

BID

16:57 WINS 0 8.4
16:47 WIRE 0 8.3
16:51 CFEP 0 8.2
16:51 JBER 0 8.2
16:50 SING 0 8.2
16:51 CANA 0 8.1
16:50 SCAP 0 8.1
16:51 STFL 0 8.1
16:55 PEEL 0 8

OFFER

8.5 0 PEEL 16:55
8.6 0 JBER 16:51
8.6 0 SCAP 16:50
8.6 0 STFL 16:51
8.7 0 CFEP 16:51
8.7 0 WIRE 16:47
8.8 0 SING 16:50
8.9 0 WINS 16:57
9.1 0 CANA 16:51



There are more advanced versions which apply to high volume larger market cap companies, where trades are matched via direct market access in combination with the market makers, however that does not currently apply to JLP to any great degree. It is the mm's who dominate on JLP.


I hope that helps a bit.

[bullster] 20/11/2020 18:14

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BBI in relation to full year results to end of June 2020.

PGM PRODUCED: 40,743 oz
REVENUE: $43,594,000
EARNINGS: $27,079,000
MARGIN: 62%
EARNINGS PER OZ: $664.63
PROD. COST: $16,515,000
PROD. COST PER OZ: $405.35
BBI AVERAGE PER OZ: $1,744

TO GAUGE BBI IN RELATION TO ACTUAL EARNINGS, IN THE FULL YEAR RESULTS.

DEDUCT $1,079.37 FROM BBI ($1,744 BBI MINUS ACTUAL EARNINGS $664.63)



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[homeytheclown] 20/11/2020 18:07

Bullster

I think it makes more sense to look at average prices like those available at hxxp://www.platinum.matthey.com/prices/price-tables

You should also consider the USD/ZAR exchange rate if you want to estimate USD$ earnings.

[bullster] 20/11/2020 16:32

PLATINUM
49%
@
$947.00
$464.03


PALLADIUM
40%
@
$2,200.00
$880.00


RHODIUM
9%
@
$13,500.00
$1,215.00


GOLD
2%
@
$1,873.60
$37.47





B.B.I. =
$2,596.50





$1,517.50 earnings per oz

[nelson01] 20/11/2020 16:14

Every £100 on the basket price jlp make an extra 1/2 million per month

[deme1] 20/11/2020 16:04

rhodium is flying

[freedom97] 20/11/2020 15:58

Rhodium UP again! now $13,500!!

[daocana] 20/11/2020 14:34

plat price looking good could go back over a 1000 dollars next few days.then again all metals looking strong today

[nelson01] 20/11/2020 13:13

Like I've been saying for a long time, perfect storm.