Jubilee Metals Share Discussion Threads

[kennyp52] 20/9/2024 09:10

PGM’s ..if we were only in this we would have no profits .. simple. The whole ethos of copper / chrome etc. is diversification and risk reduction with the ability to switch between metals e.g. if PGM basket price rises JLP can switch back to higher production and take advantage of prices. Don’t forget JLP have access to massive PGM and copper rich tailings. I just want to see the plants at full capacity and Leon delivering substantial bottom line profits and a period of consolidation on the CAPEX front .

[chestergreen] 20/9/2024 08:49

I think it would be a retrograde step to split the chrome/pgm operations into a separate company.

I can't see a logical reason for doing so. However, the March 6th RNS establishing different boards did make me wonder if this was a possibility. Comments from Leon C about the maturity of SA operations and the 'ring-fencing' of financing growth projects haven't filled me with confidence. The RNS this week announcing the appointment of the new director (as mentioned in the 6/3/24 RNS) could be seen as strengthening the SA board prior to a separation.

Might there be another scenario? The appointment of RBC as joint broker led me to wonder if there was a plan to raise money on TSXV by floating all or part of the Zambian operations in Canada. It strikes me that it is too early to do this (not enough of the planned copper production has been achieved yet) but who knows?

Neal Reynolds said at the interim results in February 2024 that they were looking to refinance the Revolving Credit Facilities (RCFs) with longer term debt. This hasn't happened, despite appearing to be a logical next step for a company seeking capital to fund growth projects. Mr Reynolds resigned this week,

In addition to the operational problems that we've all been talking about (like the delay to Roan) it will be necessary to find an answer to these strategic questions too.

I'm still optimistic that a profitable way forward will be found but I'm afraid that until there is more clarity (and project delivery), the share price will continue to drift.

Have a good weekend.

CG

[kennyp52] 20/9/2024 08:48

Is this what you get with an unmoderated board .. you can stick it .. only takes a couple of idiots to ruin reasonable debate . Ffs

[cappajumping] 20/9/2024 08:41

I have worked extensively in Group Finance Functions and the CFO announcement is a concern - a leading indicator of financial and management issues. The FY announcements can't come quick enough to quell those worries. Major operational improvements to drive free cash growth must be confirmed otherwise we have shareholder pain ahead I am sure. Not selling but not buying either I already have almost 1m shares.

[pshevlin] 20/9/2024 07:48

Other religious figures hats are also available in an emergency!

[pshevlin] 20/9/2024 07:14

I'm not so sure that putting all our eggs in one basket by floating the SA business is a good idea at present. We would have to be more than certain that copper would justify the proceeds pumped into it as against continuing to develop chrome and PGMs
(which may rebound significantly).

[xow98] 19/9/2024 21:50

They said he was on this Sunday. What more can I tell you?

[timhigginson] 19/9/2024 19:38

It is always a problem when a CFO leaves. I would imagine that a sale of the SA business is available. This would release a lot of cash to invest in the copper. Perhaps Mr. Khoza has been brought in to be the Chairman of the "to be floated" SA arm.
I remember that the CFO left around the time Colin quit and at the time the share price was near to 17p. I worried at the time and sold a large block of shares but invested the proceeds in two other fast growing stocks which promptly fell directly in line with JLP. Phc was sold off recently and CYAN has recovered . Whatever excuses will be made the copper production will rise to approx 45kt after the IRH JV gets going so the furture is very bright for JLP.

[kennyp52] 19/9/2024 19:25

CFO’s are not key ! SRB’s Clive Line also announced he is going ..the share price has shot up since . Get a grip guys

[goingforarun] 19/9/2024 18:09

Why do you think Leon is going to be talking to Tom and Jerry?

[pshevlin] 19/9/2024 17:52

There have to be some somewhere xow. Maybe it's a smaller fund selling out that doesn't show up in the top 10 or so. Perhaps the Roast boys can ask him what is going on.

[xow98] 19/9/2024 17:49

Fidelity are down 4.3m shares between 6th and 16th September. No other major movers

[undertaker] 19/9/2024 16:12

Should open a few doors for us!

[sb] 19/9/2024 14:27

This is the third job change for him in 5 years.....

[luckykids] 19/9/2024 13:51

Still makes me wonder if they intend to float off or partially float off the SA arm

[haywards26] 19/9/2024 13:30

The RNS states the Exec CFO role is being replaced. A PLC CFO will be a significantly higher level exec role than the divisional CFO roles.

[frogkid] 19/9/2024 13:12

Jacks, possibly the most sensible post todayFrog

[jacks13] 19/9/2024 12:31

The RNS states:

'Neal formed part of the leadership team tasked with the successful implementation of a decentralised executive management structure, to ensure dedicated focused leadership by the South African and Zambian appointed executive team. The decentralised executive teams are now each led by a dedicated Managing Director and CFO per country and commodity area. The implemented executive structure ensures clear accountability and leadership across each of the Company's operations, namely copper and chrome & PGM. This new decentralised structure has put in place significant finance capabilities across the Group. Riaan Smit, currently Chief Financial Officer of the chrome & PGM division in , has been appointed interim Group CFO while a replacement is found.'

Neal's initial role when taken on was in some sense to implement his own redundancy. Why do they need three CFOs in the Company?

If the intention is to create two companies; separate South African and Zambian entities, each with its own executive board, wouldn't that demote the head office role to a mere collating role? Is this dilution of the head office role perhaps the reason for his leaving?

[wet your knot] 19/9/2024 12:13

Can't get on the Jubilee website at the moment, must be doing an update.

[wet your knot] 19/9/2024 12:12

Neal must've been up to date anyway as the RNS says annual results are out w/c 30th September now and the previously issued timescale was second week of October.

[undertaker] 19/9/2024 11:47

lets see where he goes to next...don't forget he also purchased shares along with Leon a few weeks ago (He would have most probably known he was on his way then)!

[haywards26] 19/9/2024 11:38

Senior execs don’t leave after such short tenures often. You would expect minimum of a 3-5 year service length..