Jubilee Metals Share Discussion Threads

[aceshi] 26/3/2019 06:21

I'm not that excited, we can once again expect our investment to remain stagnant, or worse, for the foreseeable future. And by that I suspect years to come. The market wants cash in the bank with these guys, not more "jam tomorrow"

[plat hunter] 25/3/2019 20:39

He must have a lot of mirrors in his gaff :-P

[plat hunter] 25/3/2019 20:16

BMR ha ha ha ha hahaha

[mikesurtees] 25/3/2019 19:40

Plat honey.....didnt you tell me you were in deep in JM [ when you wanted to join the syndicate ? ].....stop telling LIES honey......where are the pictures of the Kabwe plant ? Bird is still diluting shareholders after many years. Regards.

[plat hunter] 25/3/2019 18:55

Unlucky Krypton you should learn to fact check before you open your mouth, LOLS

Company share price 26.03.18 share price 25.03.19 Difference %Gain
WRES 0.56 0.46 -0.1 -17.85714286
JLP 2.58 2.28 -0.3 -11.62790698

[plat hunter] 25/3/2019 18:19

That's correct Aces, they took BMR's at 2.5 and have a pretty decent average over the NAV as a result.

Miton are quite small though with only 4 billion AUM, Who took a 25% hit in one go is the question? Of course it could be a consortium of Institutionals which would be even better for future cash calls.

We'll find out by Friday, all very exciting.

[choppernoel] 25/3/2019 17:24

gold up. platinum up. rhodium up. palladium up. Jubilee share price down. Great work Leon. Can you not see for yourself that u are not doing the job? You don't seem to mind destroying shareholder value.

[kryptonsnake] 25/3/2019 16:52

BMR still not cleared out either

#DoubleOverhang

[kryptonsnake] 25/3/2019 16:51

491 million new shares issued

No way these were all bought up by institutionals

Placing shares are getting sold off for a small profit

#overhang

[kryptonsnake] 25/3/2019 15:49

Where are you plat?

Admit you were wrong. WRES now 10% up and this dog keeps falling

[kryptonsnake] 25/3/2019 15:48

deme,

You missed out WRES 10% up

LOLsss

[deme1] 25/3/2019 15:41

SLP - Up Again
LMI - UP AGAIN
JLP - What do we expect

[redtrend] 25/3/2019 15:07

Goldi - yes apologies thanks for correction, 26.5% dilution

[choppernoel] 25/3/2019 14:59

If they hadn’t agreed a funding deal on Kabwe and the share price fell, they might have wanted to buy shares back. It’s called keeping your options open.

It's called bull sh.....g the shareholders. Something that Leon and Colin are masters of.

[goldibucks] 25/3/2019 14:50

“on top of the recent 36% dilution” It’s 26,5%. You calculate it as a % of the enlarged number of share in issue. You don’t say 492m new shares/1,363m old shares. It’s 492m new shares / 1,855m new total shares. If a company has 100 shares which you own and issues another 100 shares to somebody else your holding goes from 100% to 50%. Also, a lot of companies pass resolutions to do buybacks. At the time they may have been considering buying BMR’s shares in a fire sale. If they hadn’t agreed a funding deal on Kabwe and the share price fell, they might have wanted to buy shares back. It’s called keeping your options open.

[redtrend] 25/3/2019 14:31

They don't need further shareholders approval. This is unpaid remuneration, not a benefit per se.

They actually took a significant pay cut (well deferral) and this remuneration is due to them in shares.

Yet for years JLP have not paid these shares due to Directors. Question is, why?

EDIT: to be clear, this unpaid remuneration in shares is completely separate from the Options

[aceshi] 25/3/2019 14:21

Exactly And have they earned their fringe benefits or bonus to date. I don't believe that there are many shareholders, through the duration of JLPs entire lifespan, who would vote a yes on this.

[redtrend] 25/3/2019 14:20

On top of the options, the Directors are owed £789,009 in unpaid remuneration over the years to be paid in shares.

One of the most bizarre things about JLP is why these shares have never been paid to Leon and the Directors. What are they waiting for as it appears in clear contradiction to the 2013 resolution referenced:

"Total accrued unpaid Director remuneration of £789,009 is included in Group accruals. The amount is to be settled through the issue of new Jubilee shares under the authority of ordinary resolution number 12 and special resolution number 2, passed at the Company’s Annual General Meeting held on 27 November 2013"

This would be another 2% dilution on top of the recent 36% dilution, but at least the Board would clearly have 3% of the equity and the detractors would not have the argument of stating LC has no shares (27,000 is worse than none).

It's one of the most perplexing things about JLP and a huge PR miss. What are they waiting for and is LC allowed to take this unpaid remuneration as cash instead of shares in some small print shareholders are unaware of. Is that why they refuse to issue these shares?

Surprised no one has asked this at an AGM or directly with Board.

[aceshi] 25/3/2019 14:14

They are treading a fine line with RNSs containing blatantly, deceptive content. The suggestion of buy backs made towards the end of 2018, was irresponsible grandstanding, that even at the time was called out by many on this board. It has now been proved to have been nothing more than trying to manipulate sentiment. If they are prepared to stick their neck out this far, can we trust anything that is reported? Over time, I have lost all respect for managements integrity and certainly do not trust their loyalties. Only they can change this opinion.

[choppernoel] 25/3/2019 14:12

Share options are part of Leons remuneration package....fringe benefit. that's nothing. the man has no balls to buy shares on the open market, and yet expects people to invest in his company. how can anyone think that large financial banks would invest in jubilee. Leon just dilutes. Leon and Colin should be fired. colins other companies are also being destroyed in value. this destruction of shareholder value seems to be a common theme with Leon and Colin.