Jubilee Metals Share Discussion Threads

[plat hunter] 14/5/2019 19:42

Leon's salary will be 7 figures in 24 months time. More than enough motivation to get on with it and deliver

[billthebank] 14/5/2019 19:27

THIS IS A KEEPER!!! I will keep this post and refer to it in 18 months time and if I got it wrong I will be along with Canaccord be extremely surprised

[billthebank] 14/5/2019 19:25

Sorry guys been a beautiful day here in the Cotswolds so only just got back in after golf food and an obligatory beer. As you guessed I had seen this update and considered posting it early doors but thought better of it as I thought someone would say nothing new there.

What I liked was.....

As such, chrome division revenue of £3.1m and earnings of £1.3m highlight the strategic and financial rational for the acquisition - PlatCro Chrome’s total acquisition price was only £8.6m.

Of course that wasn't the only thing that was really positive here. This is absolutely a given .Consider the price now compared to a year ago and look at the numbers coming out from Jubilee.This company is definitely at an inflection point and you would have to be blind not to see that.

Colin Bird is not pulling the strings here. Leon is. As for chatter that he doesn't own a significant number of shares.Well why not invest in Premier African The CEO has loadza shares there and look what a POS that is!!!!

[robers98] 14/5/2019 19:00

Broker note on website.

[plat hunter] 14/5/2019 17:51

for a long time now

kryptonsnake14 May '19 - 17:09 - 11823 of 11824 (Filtered)

[kryptonsnake] 14/5/2019 17:09

LOLsss stop ignoring me and listen. You might make some money then

[scrappycat] 14/5/2019 17:06

Krypton filtered. Boring, and no imagination.

[sleveen] 14/5/2019 17:01

Think I'll join you.

[frogkid] 14/5/2019 16:57

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aaaaaahhhahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahah

[kryptonsnake] 14/5/2019 16:38

This one's for you Platts. LOLsss


kryptonsnake - 18 Apr 2019 - 12:24:45 - 10924 of 11800

Sold WRES recently so the fall is good for me. I get to buy back lower


Jubilee got battered harder than Platts sausage

[kryptonsnake] 14/5/2019 16:37

kryptonsnake - 07 May 2019 - 20:17:45 - 35 of 58 Mighty Shorts from Tiny Acorns (UnModerated) - JLP

I might slam a short on. I'll wait for news first

Possibly see a small rise before the fall

buy the rumour, sell the news


LOLsss


kryptonsnake - 09 May 2019 - 08:02:49 - 44 of 58 Mighty Shorts from Tiny Acorns (UnModerated) - JLP

time to slam the short on. BMR all out. That's a sign to sell

LOLsss

[kryptonsnake] 14/5/2019 16:36

You lot should read my posts. They tell you how right I've been

LOLsss


kryptonsnake - 10 Apr 2019 - 12:18:22 - 10554 of 11800 Mighty Oaks from Tiny Acorns (Moderated) - JLP

I've decided to take some profits, it's not going to hold above 3p for very long


kryptonsnake - 16 Apr 2019 - 09:26:26 - 10827 of 11800

Chart is very predictable now. I see sub 3p this week


kryptonsnake - 16 Apr 2019 - 09:49:22 - 10833 of 11800

There's 3p gone. 2.75 will be the tester, needs to hold

You lot should take charting lessons from me

[goingforarun] 14/5/2019 16:07

Losta, only thinking of known items. Copper and Cobalt is a could be, as the new process has been mentioned in the last few presentations, however, this could quite as easily be six months away!

[lostabillion] 14/5/2019 15:54

GFAR, Think Copper & Cobalt! This announcement will come in the very near future, possibly this month imo.

Currently we have shares flowing from the impatient to ii’s & billionaires. Make of that what you will.

[choppernoel] 14/5/2019 15:47

I presume plat starts 31 may 2019 at platcro. Leon said May 2019. NO DATE IN MAY GIVEN. Thanks for the certainty Leon

[goingforarun] 14/5/2019 15:37

All good but nothing new really? Presumably the next catalyst will be either production at PlatCro or Kabwe being confirmed by the Zambian authorities? Can’t see anything else that’s going to move the SP?

[deme1] 14/5/2019 15:36

Good find dk. Kabwe is going to be a big earner for many years to come and the closer we get to production the more its value should start to be reflected in the share price. However I am fairly certain this will not be the only project JLP has in Zambia, and one might do well to research the interests of the Moore family out there and how they might be able to assist in bringing something juicy to the table…

Tot

[deme1] 14/5/2019 15:27

NEW SHARD NOTE courtesy of ToT on II

Well I haven’t had a reply but I’ve just remembered from my last conversation that whilst they couldn’t give express consent it was up to individuals what they did with the notes, so here it is:

"Q1 sets the scene for diversification & earnings build-out

A busy quarter for Jubilee, not least for announcing the acquisition of the Sable Zinc Refinery in Zambia from Glencore forming a key part of the company’s plan to commence production at its Kabwe Zn-Pb-V project. Operationally, JLP delivered a robust quarter from its producing assets with a 54% increase in revenue and 57% increase in earnings. This was achieved despite some teething problems at Hernic and the full impact of the PlatCro Chrome operation not feeding through given its acquisition in mid-January.

► Q1 results hit the beat. Q1 2019 combined revenue was £6.5m, up 54% q-o-q and JLP attributable earnings were £3.2m, up 57% q-o-q. This is a clear beat on our expectations of revenue £5.7m (JLP +15%) and earnings £2.8m (JLP +13%). Results from the PGM division, (i.e. only Hernic at this stage) were robust despite some operational challenges - numbers were broadly in line with Q4 2018; revenue £3.4m (-7.8% q-o-q) and earnings £1.9m (-12% q-o-q). The chrome division buoyed by PlatCro Chrome delivered revenue £3.1m and earnings £1.3m. For a quarter that we view as “transitional”, these results are impressive.

► Hernic. Robust performance despite some challenges. Power outages interrupted production in February which compounded the delay in getting back up and running after Christmas (Dec-Jan is the main holiday/shut-down season in South Africa). The delayed January restart affected the supply of feed material at the beginning of the year. Nevertheless, the Hernic numbers were only marginally down on last quarter. JLP clearly clawed back production and importantly, operations have returned to full production. JLP reports 2,000oz for April which implies Hernic is back on track for its 6,000oz per quarter run-rate.

► PlatCro Chrome. The real success story of Q1 was the rapid implantation of PlatCro Chrome into the group. Despite not providing a full quarter (acquisition completed mid-Jan), JLP notes that the operation is contributing ahead of projections. The chrome division is represented predominately by PlatCro at this stage until DCM Fine Chrome ramps up. As such, chrome division revenue of £3.1m and earnings of £1.3m highlight the strategic and financial rational for the acquisition - PlatCro Chrome’s total acquisition price was only £8.6m.

► PlatCro PGMs. JLP reports that production from the PlatCro PGM project will commence in Q2 (May/June). JLP has been accelerating delivery of PGM-rich material from PlatCro to Northam Platinum’s Eland recovery plant. The plan remains the same, with the potential to add up to 30koz pa of PGMs (platinum and palladium dominant) which would double JLP’s total PGM production. This should transform group earnings from Q2/Q3 onwards.

► DCM Fine Chrome. The new fine chrome recovery plant was commissioned in Q1 with the first chrome concentrate being produced to target concentrate grades in January 2019 and delivered to market. Ramp-up to nameplate capacity is expected in early Q2. Whilst a relatively small operation, the plant is a critical cog in demonstrating to the industry that the recovery of fine chrome is technically and commercially possible.

► Kabwe. Whilst JLP awaits final approval from the Zambian Competition Commission for the Sable acquisition, the team has been granted access to the Sable refinery to optimise the implementation plan. There are lots of moving parts at the moment but JLP is looking at the best way to integrate the Zn-Pb-V feed from the Kabwe resource into the existing operations. In addition, discussions are underway to harness value-accretive opportunities to gain access to high-grade zinc material in the Kabwe region and increase refining capacity. Discussions are underway with various parties including Galileo Resources (AIM:GLR) and its Star Zinc project. Kabwe remains a game-changing project for JLP and we await further progress.

Next quarter is shaping up to be even better and should reflect not only a full quarter from PlatCro Chrome, but also contributions from the recently commissioned DCM Fine Chrome operation and the new PlatCro PGM operation. JLP plans to move to a more detailed, consolidated operational and financial review on a six-monthly basis. We concur that this will provide more clarity going forward whilst removing the onerous process of quarterly reporting."

Tot

[rescuer] 14/5/2019 15:02

Shard Note from 4th March

""Putting the pedal to the metal""

"After years of laying the foundations of its metal recovery business, the pace of project execution is speeding up and Jubilee is delivering on its growth trajectory. Early focus has been on the recovery of chrome and PGMs from mine tailings where production is set to increase significantly over the next 12 months, including the recovery of fine chrome, an industry first. However, JLP has bigger ambitions and Kabwe in Zambia will turn the company into a base metal and vanadium producer.

JLP has also been invited into the boardrooms of the major miners to discuss access to the substantial portfolios of mine waste lying at surface. We believe this could be game-changer for Jubilee.

? JLP is the expert. Jubilee is an industry acknowledged leader in the retreatment of tailings,waste, slag slurry and other secondary materials generated from mining operations. This is a wide-reaching metals recovery business and not solely focused on platinum as the company’s previous name or legacy suggests. Jubilee has a proven track record of success in the South African PGM and chrome industry, working with some of the industry’s leading companies including Mitsubishi, Northam and Lonmin.

? Robust project pipeline. Hernic PGMs and DCM chrome are in production, the fine chrome plant at DCM has been commissioned (first saleable product Jan 2019), and JLP is preparing to commence PGM production at PlatCro. The recent PlatCro acquisition also secured 80ktpm chrome processing capacity. Near-term projects include implementing fine chrome capability at PlatCro and Hernic, PGM production at DCM and developing the Kabwe Zn-Pb-V project in Zambia. Looking out to FY20, we see PGM and chrome production doubled and maiden production of zinc, lead and vanadium.

? First Mover. JLP is emerging as a world leader in mine waste retreatment with the in-house ability to design, build and execute projects. Jubilee has executed framework agreements with some of the largest mining companies in the industry to access the substantial waste portfolios lying at surface and where remediation is becoming a growing imperative. This has the potential to expand JLP’s production base considerably, whilst diversifying to new metals and giving the company a global reach beyond South Africa. JLP is currently evaluating the huge opportunity presented by mine tailings and slag in Zambia.

? Lower risk profile. JLP sidesteps the high-risk exploration stage of the industry and has no exposure to mining risk. Tonnage and grade variation are known in advance and the company’s processing expertise increases in-situ grades substantially for minimal processing. Furthermore, a typical JLP project has exceptionally low capital intensity and low operating costs ensuring robust margins even in low metal price environments.

? Fine chrome game-changer. JLP has taken a leading position in the recovery of fine chrome with a proven process recovers fine chrome sub 60-40µm where substantial losses occur for the primary chrome processing industry. This opens up enormous potential for the recovery of fine chrome from the millions of tonnes of historical tailings that are produced by primary platinum producers mining the UG2 reef.

? Upcoming key catalysts. First PGMS from PlatCro (Feb). DCM fine chrome full production(March). Decision on Kabwe development plan and potential refinery acquisition (Q1/Q2 2019). Permits and approvals for PGM production at DCM (2019).

? Valuation. Our current indicative valuation for Jubilee Metals is 6p/sh fully-diluted (unrisked 8.2p) which implies that JLP is trading at an undemanding 0.40x discount to NAV, with an implied return of 2.5x to the current share price. We forecast significant ramp up in revenue and earnings generation from FY20 as JLP executes on its ambitious growth programme.

Jubilee is not likely to remain under the radar for much longer. 2019 will be a pivotal year for the company as it beds down several new projects. We see no other company as well positioned with the resources, expertise and connections to take advantage of the compelling opportunities presented by global mine waste and tailings. JLP now has multiple commodity exposure and is expanding into new jurisdictions beyond South Africa."

[scrappycat] 14/5/2019 14:33

I might be wrong, of course, but it seems that 3.2p ish, is the price to buy for the hierarchy.

[eblitz1] 14/5/2019 14:19

Hello Billthebank
Is there any reason that you don't post the Shard note on here, it's not against the law, in fact it may do you a lot of good as it will make people buy in