Jubilee Metals Share Discussion Threads

[goingforarun] 22/1/2021 15:42

Losta, assume that’s your 4.75m sell then?

[robers98] 22/1/2021 15:39

40p here we come!!!

[lostabillion] 22/1/2021 15:33

I’m all out now.

I’ll be back at some point :—)

[plat hunter] 22/1/2021 15:04

It certainly sounds like it Deme :-P

[deme1] 22/1/2021 15:02

I'm pretty sure 99.9% of us are in a much better position than your good self ;)

[freedom97] 22/1/2021 14:36

At last you now understand what took place tintin, hopefully next time you will read the full RNS and if any doubts research back RNS's etc., before posting on this thread and wasting pi's time.

[adejuk] 22/1/2021 14:26

i wish they would put their options where the sun don't shine.

[line and length] 22/1/2021 14:12

From the recent RNS:Therefore, the Company has issued 19 154 466 new ordinary shares in total to settle the accrued salary in full, comprising 14 760 730 new ordinary shares to Mr Bird (at an aggregate issue price of approximately 3.3 pence each) and 4 393 736 new ordinary shares to Mr Coetzer (at an aggregate issue price of approximately 3.2 pence each) (together "Directors Shares"). The share issue settles the accrued salaries owed to Colin Bird and Leon Coetzer and represents a full and final settlement of outstanding salaries.

[freedom97] 22/1/2021 14:04

Yes, it's either in the RNS's at the time or almost certainly in the Financial annual reports. From memory it was at a higher share price than the price at the time, but if you really want to know then I suggest you look back and see for yourself.

I have a feeling the share price at the time was around 2p and so the share price quoted in the RNS dated 15 Jan, would be correct.

[9tintin] 22/1/2021 13:53

Freedom

Do we know at what price the shares were struck at?

We know what price they were sold at LOL

tintin

[freedom97] 22/1/2021 13:42

The shares in lieu of salary was agreed upon by shareholders at the time at the AGM. The management brought to shareholder attention before the AGM that in order to help the company they wanted shareholders to vote on offering shares in lieu of wages (as funds were low at the time as virtually no revenue coming in plus had debts to pay so didn't want to have to do another placing when the share price was very low to pay for wages, which would mean many more shares would have to be issued than we currently have in issue).

The good news is as a result of both Leon & Colin helping the company at the time by taking less cash. The company has been transformed into a money printing machine. :-)

IMO, they deserve their wages for the excellent transformation of the company, when other companies are either not gaining any revenue or have gone bust.

[9tintin] 22/1/2021 13:24

Kenny

I'm guessing that their salaries were calculated at a share price average over time - much lower than the 13p they were sold at, hence it was far more lucrative to take the shares and NOT the cash !

tintin

[moneyman50] 22/1/2021 12:39

Kenny-19 million shares is nothing compared to the issued share capital of over 2 billion shares-less than 1% of the issued share capital.
Nearly every listed company in the World has director share option schemes which are excercised from time to time.The fact that these shares have been purchased by Institutional Investors and not dumped on the open market bodes well for the future potential of the company

[line and length] 22/1/2021 12:31

Kenny, the dilution was the result of an existing contractual right to conversion to shares (in respect of both the debt provider and the directors). You need to look at the detailed accounts for any further rights to conversion. These are not newly created rights but existing rights and it's fair play as it's in the public domain already!

[frogkid] 22/1/2021 12:24

No I don't Ken, I always work it out based on issued share capitalFrog

[gsg] 22/1/2021 12:21

Surge in demand for ferro-chrome in India, China, tightens supplies to Europe

European ferro-chrome prices rose strongly in the week to Tuesday January 19, with China and other destinations drawing in material than would normally be destined for Europe.

Demand for feedstock from consumers and traders also rose, sources said.
Fastmarkets’ price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe gained 2-6 cents (or 4.4%) to $0.90-0.98 per lb Cr on January 19, up from $0.88-0.92 per lb Cr on January 12.

The availability of Indian material has dried up in Europe after suppliers focused on the domestic market in India and a surge in demand in China sent prices soaring.
In terms of volumes, India would usually be the largest source of 60-64.9% grade chrome ore with a maximum silicon content of 3% in Europe.

“There is a crisis in supply in the Indian ferro-chrome market - domestic prices

[kennyp52] 22/1/2021 12:20

Lol .. my point was diluted shareholdings .. you do not think your slice of the cake just reduced again ? Simple maths guys . I have no real issue rewarding Leon but Colin is spending most of his time on other projects outside of this group isn't he ? Stop panicking that a genuine question will crash the share price ... Jeez . How often can they keep on doing this ?? Anyone know if they have loads more options to take salary at 3p a share ? Or is it done ? If its done and one-off then so be it . Some touchy people on here .

[robers98] 22/1/2021 12:15

Directors took the risk that they wouldn't pull off the projects. We would have been up for more fund raising, at the lowest prices just to pay salaries.
Now they are entitled to receive the money.

[frogkid] 22/1/2021 12:13

Kenneth, the share price is still where it was I believe.

[freedom97] 22/1/2021 12:13

I think Colin did the right thing in selling shares to an II otherwise more new shares would have had to be issued. Remember also he's 77yrs!

Regarding issue of shares in lieu of salary. Most of us already knew they would have to at some stage especially for Leon, so they chose the perfect time imo.

Everyone has their own opinions, well that's mine.

Lets move on and focus on the amazing growth of this company and look forward to new projects and a JV or sale for Tjate.

[sb] 22/1/2021 12:10

To just pay them..? But the agreement was what it was... You can't just change it retrospectively...

[line and length] 22/1/2021 12:08

Hi Kenny, I'm not sure how they've screwed the shareholders when 2 blue chip institutions have bought their shares. Are you saying those institution shareholders have screwed themselves??

[nelson01] 22/1/2021 12:07

Your opinion is not valued, I would rather listen to the opinion of successful financial institutions.