Jubilee Metals Share Discussion Threads

[line and length] 11/10/2023 22:13

DDR - where did you get that going concern quote from? I couldn't find it in the AR 2023. The only relevant wording I could find is this on page 147:The Group's forecasts and projections to 31 December 2024, taking account of reasonably possible changes in trading performance, commodity prices and currency fluctuations, indicates that the Group should be able to operate within the level of its current cash flow earnings forecasted for at least the next twelve months from the date of approval of the financial statements. The Group is adequately funded and has access to further facilities, which together with contracts with several high-profile customers strengthens the Group's ability to meet its day-to-day working capital requirements and capital expenditure requirements. Therefore, the directors believe that the Group is suitably funded and placed to manage its business risks successfully despite identified economic uncertainties. The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, thus continuing to adopt the going concern basis of accounting in preparing the annual financial statements.

[dead duck resources] 11/10/2023 21:04

Car crash results

2 years to June 2023: +£50M net inflow from shares and new borrowings

Adjusted working capital (cash + sold inventory - net trade payables - current tax due)
Dec 31st 2021: £7.5M
Jun 30th 2022: £8.3M
Dec 31st 2023: £9.0M
Jun 30th 2023 (£1.7M) -£10.7M in six months (£60,000 per day)

Going Concern: JLP should be able to operate within the level of its forecast cashflow earnings for the next twelve months subject to a change in trading performance that we consider reasonably possible.

[timhigginson12] 11/10/2023 20:30

It seems the market is about 6 months behind when the company bottomed. 6 months ago the new 360ktonne chrome venture was not happening; 6 months ago the flowsheet results were not finalised and six months ago the Roan expansion etc had not begun. Add onto the events the future capex requirements re Mopani etc were hanging over the company as was the development of the eastern new 25k p.a. PGM expansion.
Now we know that the Zambian copper production can grow in a much more controlled manner and can be staged in line with company cash flows.
I'm just sitting back and ready to watch a sustained and profitable growth of a company with very little limit as to how big it can get.
I am very pleased with how events are turning out and think that Ollie has ben a great addition to the team. Nobody knows what the credibility a person of Ollies standing and experience brings to a small struggling junior miner.
It's all beginning to happen.

[21ant] 11/10/2023 20:23

I've emailed Waltie this afternoon about the website being woefully out of date. I've asked the question about the warrants too. I mailed him in Jan this year and he replied so hopefully I'll hear something.

[undertaker] 11/10/2023 19:50

no idea - it's in the finals published today.

maybe worth dropping them an email?

[21ant] 11/10/2023 19:47

Undie - thanks for updating the warrants.
Am I missing something though. Those same warrants in last years report all showed an expiry date of 12 months previous.

For example
19 Nov 2019 7,818,750 4.00 19 Nov 2023 - this showed 2022 and assumed now expired
22 Jun 2020 750,000 3.40 22 Jun 2024 - this showed 2023 and assumed now expired
21 Jan 2021 4,036,431 13.00 21 Jan 2025 - this showed 2024 and didn't have long left

Is this an error or are they publishing guessed dates?

[juju44] 11/10/2023 19:25

Anything to do with the crooked Bird has been a disaster - but he done extremely well out of the punters misery

[lights out] 11/10/2023 19:20

From 30p to 13p...
Were next?? Let me guess

[sev22] 11/10/2023 19:17

Broker Recommendations for Jubilee Metals (JLP)

Date Broker Recommendation Old Target New Target Rating Type

11-Oct-23 Canaccord Genuity Buy - 13.00 Reiteration

[lights out] 11/10/2023 19:13

A 15 percent fall on a single day on what we already knew shows a market that is absolutely fed up and have bailed. Not to mention the already 30 percent fall this year.
Leon needs to drastically turn the market perception around. No more BS and less exaggeration please. Where is the 600 000 chrome deal, not spoken today which is now concerning.

[goingforarun] 11/10/2023 18:53

I think the share price now reflects the belief that the management team doesn’t seem to be able to deliver, in amongst a massive fall in metal prices. If Copper had been operating in any meaningful way would we be here. Absolutely not?

[aceshi] 11/10/2023 18:06

Bingo, and 5's it is. And most likely will test 3s in the not too distant future. Kev, take a look at post 4553, from yesterday. The last 18 months has been that predictable. No matter how you try and spin it, you'll never buck market sentiment and get away with kicking the can for eternity Lol. Not obsessed, no agenda, just believe in offering a rational, alternative view to the deafening narrative of the loyalists, who have been reduced to clutching at broken straws.

[pshevlin] 11/10/2023 18:00

We need that timetable of reporting dates that was mentioned in the presentation.

[undertaker] 11/10/2023 17:13

it's way overdone.... the 2nd half has recovered well, and the outlook is great!
look forward to the Q3 update, now that we have moved to Qtrly reporting.

Hopefully the weak holders have been flushed out!

Warrants updated in the header (based on the latest Finals report)

[adejuk] 11/10/2023 17:10

i 'hope' this is the nadir and we will see a recovery in the next couple of days.
we are now well below nav

[alpal2] 11/10/2023 16:47

Who was it, a 'hundred' years ago, that kept on saying "5p by Friday". Well here we are !!!

[timhigginson12] 11/10/2023 16:39

I think the results are very creditable. The first 1/2 yr was down 50% at 5m so the second half has had to be equal to 2022. Promising going forward. The cash position was greatly helped by a reduction in the Debtors. Given the modular expansion there appears to be no requirement for a rights issue to fund a large refinery ... Thank goodness. With the cashflow from operations at 31m and a modular cost 0f $2.5m for 15000 tonnes per month it only remains to be seen what the actual copper content per tonne is. However the Board will be able to increase copper production as soon as the cashflow allows. I assume that a 50,000 tonne per month does not cost 3.3 times $2.5m; there should be some saving because of scale. Let's say that the previously indicated copper content is not 3% but use 2% then 2mtonnes would have to be processed p.a. This in turn indicates roughly 13 modules at $2.5m or a total of $32m just about 1 years free cashflow !!!
All in all I think the Board has done a very good job in a very difficult phase. The company is in good shape financially and the prospects are electrifying. I am looking forward to the next year.

[the_isolator] 11/10/2023 15:27

It's become one of those shares now to forget and come back in 6 months

[the bull] 11/10/2023 15:22

I thought 2023/2024 would take us back to the 20p area but looks like yet more patience needed and 2025 could be the year. I can wait for the tremendous potential to be realised

[goforgold1] 11/10/2023 15:13

Slater will get a meeting and get rid of some of these directors he is well underwater and looks like been lied to or doing a funding for about 3p so he can average down

[jackthecat1] 11/10/2023 14:45

Well, if Slater was adding a few back in the 7p's odds, surely he will dive in again heavily at these crazy prices.

FFS Jubilee, can we just get on with the deals and the business please. How hard can it be.

[oldboffy1] 11/10/2023 14:31

A theoretical 1 hour webinar which could have been covered in 15 minutes. Are there any timelines that they have hit? A few months ago TW said it might be 2 years before the results come through. He is right.