Jubilee Metals Share Discussion Threads

[sleveen] 21/3/2019 12:31

webcast to follow no doubt.

[plat hunter] 21/3/2019 12:30

Sorry Goldi I misunderstood.

Yes, but that was for roughly 4% of JLP's issued capital.. It's then some stretch to then go an buy another 30% of the same company.

Can you imagine how that will look on their KFD's for their smaller companies fund, under fund allocation?

[kryptonsnake] 21/3/2019 12:29

Jubilee won't see 3p for a long time to come

More chance of Colin dropping 3 pounds in weight


LOLsss

[goldibucks] 21/3/2019 12:27

Plat the 3.6p is what Miton paid for JLP shares originally for us to pay BMR for what was then 40% of Kabwe.

[aceshi] 21/3/2019 12:24

The market won't react positively to this news. Certainly not looking good for the spin doctor's, who were hoping for an opportunity to exit. But hey, look on the bright side, should be plenty of top up opportunities, in the foreseeable future. LOL Kabwe is going to suck the life out of JLP for years to come, they are already talking 2021, which we all know will most likely end up being north of 2025. I am afraid the long game just got a whole lot longer.

[goldibucks] 21/3/2019 12:24

Chopper who predicted a Kabwe announcement today and what did you say?! ;-)

[sharenotes] 21/3/2019 12:24

Bullster, it is my understanding that the 12.5% goes to 11%.

[plat hunter] 21/3/2019 12:23

Just my view of course, i would be gobsmaked if it is Miton or a similar small scale asset manager. But then again, who's to say that they took it all?

I guess we'll learn very soon who it was either way

[the bull] 21/3/2019 12:23

18 months time saving in processing at kabwe, could they have toughed it out and got a better deal on the plant? maybe a risk that the goalposts moved on license if they didn't act but now they have, zim are fully on board. Hopefully my sipp will be busting at the seams on the next couple of years, like my waistline

[plat hunter] 21/3/2019 12:23

Goldi, I'm not aware of the terms proposed by Miton at 3.6 but if a feasible plan was put forward at 3.6 then why did JLP then go and take 2.25?

30% ownership of a single company for a retail fund manager is unprecedented, I've never seen that kind of allocation before. Doesn't really give them any opportunities to diverse the risk and certainly wouldn't match the risk profile of a majority of their own clients.

Regulated UT's and OEIC's are very strict vehicles when it comes to allocations. a 30% allocation to one holding would change the risk profile of the fund manager not just the underlying vehicles holding the equity, they're hardly a BlackRock.

[goldibucks] 21/3/2019 12:19

“You've just been diluted by 50% you mugs” The dilution is 26.5% of the enlarged business for the 2/3 equity funding at 2.25p. How does 1/3 converting possibly at 2.81p and 1.5m warrants at 3.38p increase dilution from 26.5% to 50%? It’s 34.15%. Why can you never add up correctly?

[the bull] 21/3/2019 12:18

I never quite get my timing right but do believe this will recover quickly. Thats a lot of metal getting processed at Kabwe and with a revised brokers note (surely) 6p that they say we should be at now will be breached.

[kryptonsnake] 21/3/2019 12:17

SFA,

Well done on your short. Don't close it just yet as this hasn't even started to fall

[bullster] 21/3/2019 12:15

.
.

BMR 12.5% ROYALTY = £607,000 PER MONTH

£7,284,000 PER YEAR

JLP SHARE (3% ?)

.
.

[sharenotes] 21/3/2019 12:14

Reasonable appraisal Goldi; I will just have to get to like cake, I guess.

[kryptonsnake] 21/3/2019 12:13

Plat Hunter

"Jubilee getting the cheque book out to buy back shares"

LOLsss

no mate, they just got the cheque book out to pay for sable and it's going to create a share price of less than 3p for the next year or two

Then Leon will use your cash to start buying back all the confetti he just thrown


You can't make this up

LOLsss

[goldibucks] 21/3/2019 12:13

“I don't think its Miton” I think it is. If they were willing to fund Kabwe at 3.6p before why not fund it at 2.25p now?

[plat hunter] 21/3/2019 12:11

Krypton,

You lost everything in BMR cause you couldn't raise frog spawn, let alone any cash.

[1madmarky] 21/3/2019 12:11

Fireball- hopefully it is Leon being conservative, so he can beat the targets and over deliver.

[sharenotes] 21/3/2019 12:10

Since total capital investment exceeds $15M, the BMR royalty reduces to 11% - ever little helps.

[kryptonsnake] 21/3/2019 12:10

LOLsss

There will be 3.5 billion shares in issue by the time the warrants are taken up

You've just been diluted by 50% you mugs

[goldibucks] 21/3/2019 12:10

The Kabwe deal is good for recent investors, it removes uncertainty and could potentially unlock the big bucks, but if you’ve held for a long time, 26.5% of the enlarged company is alot to give away to fund Kabwe. I’d have wanted the deal funded 2/3 debt, 1/3 equity, not the other way round. Presumably, that deal wasn’t on the table and they needed to deliver the project. 73.5% is still OK if they nail Kabwe. It may be the only way that investors with a much higher average price can realistically recover their losses. Hernic and PlatCro chrome are great for now but neither is going to drive JLP to 10p+. Kabwe could. Good to see first metal is expected within 12 months of acquisition although I appreciate JLP don’t stick to timelines. With Kabwe funded, I won’t be going anywhere. I’m sticking around and looking to add until the cake is baked.

[deme1] 21/3/2019 11:58

This will also reduce BMRs royalty to 11%. In the RNS on 6th Aug 2018:

“the aforementioned Royalty shall be reduced to 11% of earnings in the event that Jubilee's capital investment into the Project exceeds US$Â 15Â million.