Jubilee Metals Share Discussion Threads

[bullster] 10/5/2019 09:37

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sleveen,

" Optimistic ", no , it's there in the RNS.

Take just pgm's.

Hernic to get back to 2,300 ounces in April at the £60/ounce higher basket price than Q4/18.

£1m earnings per month there, easily.

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[kennyp52] 10/5/2019 09:37

The share price is no better than last year yet the company in Leon’s words is transformed . There is mistrust in this share or the news and financials coming through would have taken this share on a roller coaster . Just frustrated Plat that there is no real sign of this happening . Sitting on a book profit as bought @ 2.87 and 3.19 but expecting more . Greed huh !

[plat hunter] 10/5/2019 09:35

I'm not too sure what you're trying to say Kenny, sorry

[kennyp52] 10/5/2019 09:33

Plat .. if that were right this share price should be rising significantly . He hasn’t delivered a dividend yet ? That is why a company is invested in .

[plat hunter] 10/5/2019 09:33

I think Q2 earnings are likely to be more in the region of 4.5 million. Platcro and Kabwe costs will both be hitting hit the books in Q2 as well.

In terms of share price performance.. I don't think many savvy investors will be pricing in the PGM uplift out of Platcro too much either.. It'll subsequently be replacing the Hernic income, not adding to it.

[plat hunter] 10/5/2019 09:26

It's the space I'm afraid Kenny.. PGM stocks, especially in South Africa have been battered since 2013.. Lonmin for example was one of the worlds biggest companies but lost 99% of it's MCAP.

JLP is similarly down around 90% over the same period (in share price terms)

We're approaching almost a decade of negligent investment in PGMS. Start following PGM news, Sharps Pixley is a good a source..

I was here originally and specifically for the platinum and JLP's production costs for the metal but they have since diversified into other metals since then, expanding their footprint.

I would have still been here without Kabwe too, that's just gravy but it turns out to be a lot of gravy. Check out yesterdays numbers.. Almost a 50% gross margin and Kabwe or the extra 30,000 ounces of platinum have not even hit the books yet.

Current MCAP is 65 million whilst the NAV is over £100 million plus the earnings at circa 40%

At 3p a share I reckon you have £500 to fire and forget here?

[sleveen] 10/5/2019 09:24

Bullster

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JLP is on track to earn £4m from pgms and £2m from chrome, in Q2.

That's a Q2 earnings of £6m compared to £3.2m in Q1."


Optimistic figures as always.

I'll take Q1 £6m earnings with a large pinch of salt, I'm more than happy to be proved wrong though.

[goingforarun] 10/5/2019 09:19

Kenny, oddly enough the one person the market should trust is Leon. I think he has completely changed Jubilee and delivers on what he says!

[plat hunter] 10/5/2019 09:16

You're posting rhetorically then.. Nice, well played you

[bullster] 10/5/2019 09:16

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JLP is on track to earn £4m from pgms and £2m from chrome, in Q2.

That's a Q2 earnings of £6m compared to £3.2m in Q1.

Q3 and Q4 could see earnings of £7m each as Platcro pgm's ramp up and not adding any earnings for Kabwe zinc, vanadium and acid.

That's yearly gross earnings of £23.2m, and £6m cash,DCM pgm's and Tjate still in the bank.

Just think what 2020 holds as we ramp up the mighty Kabwe not to mention a hint of cobalt.

Don't be down, look one step ahead and you will see the promised land.

Hope that's cheered you up !

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[kennyp52] 10/5/2019 09:13

Both . Can only conclude my initial fears watching this Leon guy .. market does not trust his words . Needs to back it up with serious financials and some return for shareholders

[plat hunter] 10/5/2019 09:12

Are you asking Kenny or stating as such?

[kennyp52] 10/5/2019 09:01

Thanks Boris .. good read . No share price rise ?

[kennyp52] 10/5/2019 08:56

Financially the figures put this company in a completely different light to 12 months ago . Glitzy presentation desperately telling the world the company is taking off . Yet no real increase in the share price . Maybe needs the half year results for belief in these guys . Don’t understand the major shareholder comments if anyone can expand but I can only presume this guy Leon has been caught with his trousers down too many times and only audited figures will convince the market this share price should be moving up considerably?

[goingforarun] 10/5/2019 08:16

PH, just wondered to your 4.4p valuation?

[sharenotes] 10/5/2019 07:00

Goldi, makes sense to me. JLP will always be, to varying degrees, buffeted by external events that they have no control over. Anyone who has run an ‘engineering’ business knows the score; that is why some become ‘consultants.’

[goldibucks] 10/5/2019 06:46

“And the thinking of those that sell on "news", is questioned”. Their sanity should be questioned. Why sell when Q2 will be better than Q1, Q3 will be better than Q2, and so on for many more quarters. I question why March earnings weren’t better than just over half January and February but I can stand back and see the 57% quarter-on-quarter earnings growth. And yes there will be interest payments for PlatCro chrome but they are making so much more in earnings than they are paying in interest, it was a fantastic deal. Annualised profit is increasing at a staggering rate. EBIT of £7.8m at Q1 and Q1 was a bit disappointing. They are on a growth trajectory so steep that even disappointing production and earnings, dragged back by DCM ramp up and issues at Hernic beyond their control, isn’t holding back incredible progress.

[aceshi] 10/5/2019 05:50

Exactly, and the final audited numbers will be underwhelming as usual. All the potential that is constantly brandished around, you would certainly expect some sparks by now. Sitting in the perfect space at the perfect time, for years, yet to date, unable to convert the jam into serious returns. DCM still running at a loss, Hernic, well who knows, they never provide all the facts and Platcro thought we were buying a fully profitable, ongoing, operation, yet we continue to wait for full ramp up and to maximise profits. And the thinking of those that sell on "news", is questioned. They are not selling on news, they are selling because they were hoping for new announcements and all we were given was basically what the market already knew, or had already factored in. More of the same, over sell and underwelm, the JLP trademark. We may be in a much improved space. However management have yet to prove they can convert all the talk into serious profit. And the share price will reflect.

[the bull] 10/5/2019 01:03

sounds like we have a good salesman (in government) pushing JLP processing of the waste

[goldibucks] 10/5/2019 00:24

"Annualised profit is already over £7m"... the Business hasn't reported any such thing has it ?" I didn't say the business had reported that or that it would be the profit reported in the current financial year ended 30 June 2019. I said it was the annualised profit going forward and it's based on extrapolated reported numbers.

Q1 calendar 2019 project earnings of £3.3m x 4 quarters = £13.2m annualised. Interim operating costs in the 6m to 31 December 2018 were £2.7m so twice that to annualise is £5.4m. £13.2m of project earnings - £5.4m of operating costs = £7.8m of annualised earnings before interest and tax. That excludes DCM fine chrome ramp up through Q2 and Platcro PGMs from this month so it's going much higher in Q2 and Q3 and then much higher again with Kabwe.

I've been saying for many months now that this is all about annualisation and layering on of new project earnings, most of which make their way to the bottom line once operating costs are covered. Watch and learn.

[kennyp52] 09/5/2019 20:29

Do they need to be in a position to declare a dividend before share price will rise ? With all the “good news” how can this not be rising ?

[goldibucks] 09/5/2019 20:19

“the share price is going to languish at best”. Annualised profit is already over £7m. Then there is a DCM fine chrome loss to turn into a profit, PlatCro PGM coming from May, and deal flow. Share price will continue to be strong.

[plat hunter] 09/5/2019 19:08

That's a great article Deme.. Good find