Jubilee Metals Share Discussion Threads

[freedom97] 25/6/2024 13:20

It's interesting that frog is often negative in his posts when targets are missed and that's all they are targets which every company uses especially to encourage their construction teams to try and complete the construction by a certain date. But doesn't post the positive things when ahead of schedule like the following mentioned in yesterdays RNS:

"Project M - which has commenced with the delivery of material to Sable 3 months ahead of schedule"

[timhigginson12] 25/6/2024 11:59

Very good to hear the upgrades are almost complete but the two points most exciting for me were:-
1. The future copper production is from Roan and from Sable where previously I was not clear that the Roan production was the feed for Sable. So we will gat 16kt from Sable and 7kt in concentrate from Roan.

2. That in October a decision will be made about the refining of Roan's concentrate. This I take to mean that Roan's concentrate will be done chemically and copper will come from the electrowinnings. I think the cost of production will be nearer $2kpt rather than the Sable refined cost of nearer $4kpt.

[wet your knot] 25/6/2024 10:34

"why do we not have the cash to do this" - who says we haven't Frog? The RNS doesn't say "we've paid in shares because we haven't got the cash". One of the transactions actually was part cash.

[xow98] 25/6/2024 10:18

You have changed your story. Perhaps the cash is to be used for something else. I think you are happiest when complaining.

[frogkid] 25/6/2024 10:04

Missing the point here chaps, why do we not have the cash to do this. Xow, I think you like arguing for the sake of it.

[xow98] 25/6/2024 09:38

frogkid - 24 Jun 2024 - 10:48:39 - 59788 of 59836 Mighty Oaks from Tiny Acorns (Moderated) - JLP

I concur that the issue of shares for the acquisition at a premium to today's price is good. Still less than recent highs of course! I'm happy with issuing shares for value enhancing reasons. Once upon a time we did it to keep the lights on. Overall I'm comfortable with my investment here

[mercury287] 25/6/2024 09:37

Essentially we traded around 1.2 percent of the company and some pocket change for contained metal worth USD1.2billion. This is the kind of 'dilution' I can live with.

[9tintin] 25/6/2024 09:33

Kenny

You issue equity, placing or otherwise you still issue equity !! So the latest deals are mostly being funded by (raised)equity is it not ??

tintin

[kennyp52] 25/6/2024 09:08

Frog .. ever heard the saying “cash is king” .. working capital is massively important when expanding. PGM prices have been awful .. we need the copper to fly to be confident of substantial free cash flow imho. To be paying for all that we are doing without further raise is pretty impressive is it not ?

[wet your knot] 25/6/2024 09:08

"We must demand absolute clarity on everything" to be fair Frog, I think you're setting the bar a bit high there with an outcome of "expectations not met" being the most likely. Our "contract" is that we invest and take onboard risk with the hope that we get more back than we put in. There are some vague rules around the game, many of which appear symbolic and therefore meaningless. The "contract" does not include a clause whereby the company has to come to us shareholders to agree to or advise us of every single decision that they make or intend to make.

[pshevlin] 25/6/2024 09:05

There is nothing that leads us to presume that current cash is ties up GFR.

[goingforarun] 25/6/2024 08:52

I wonder if current cash is tied up on expanding Chrome?

[frogkid] 25/6/2024 08:39

LOL, fair one shevvers!

[pshevlin] 25/6/2024 08:34

I would consider it immaterial if they put £5 in next year for every 50p purloined. That could be the position in the future.

[frogkid] 25/6/2024 08:34

We must demand absolute clarity on everything , this is our money. It is not good enough to just accept what is fed to us. On a positive note the Roan video is really impressive !

[frogkid] 25/6/2024 08:32

Nobody listened to me about the Roan delay, and nobody wants to hear me on this. Let's see where we are with cash in a few weeks when the EOY is announced.

[pshevlin] 25/6/2024 08:31

Maybe there would be more tax implications for them being paid in cash. Who knows. Maybe a question at the next webinar as this may be a precedent for all the other sites we are going to buy.

[frogkid] 25/6/2024 08:30

If someone kept pinching 50p out your piggy bank would you consider it immaterial?

[frogkid] 25/6/2024 08:30

No dilution is immaterial

[xow98] 25/6/2024 08:28

. duplicate

[xow98] 25/6/2024 08:28

Immaterial dilution

[frogkid] 25/6/2024 08:25

Yes, so why not pay them in cash and let them buy cheaper in the market. Not enough to make a significant impact on the market if purchased over a few days. The constant dilution, for whatever reason, saps faith in the company. This is really not alot of cash and should easily be available from reserves. I find it curious.

[888icb] 25/6/2024 08:21

The shares were also issued at 7.81p which is at a premium to the current share price

[pshevlin] 25/6/2024 08:20

Paying them in cash would mean they would certainly get fewer shares as that number being bought would push up the share price If we wanted the stuff we obviously had no choice,

[pshevlin] 25/6/2024 08:18

"This time next year Rodney" might actually be true this time.