Jubilee Metals Share Discussion Threads

[haughtonhoney] 06/6/2019 08:02

...or eventually move to another market

[1madmarky] 06/6/2019 08:00

Goldi re"If your performance is improving strongly, and JLP’s is, that’s going to hurt investors if you have to spend equity"

Yep absolutely agree. Now the reason that the bod are happy for the reporting change could be related to the fact that they are fully funded going forwards for the current projects and see no reason to return to the market. As long as the PlatCro PGM operation gives the expected income then JLP should be rolling in it. So the share price is less important from a business point of view. But as it's AIM there will be suspicion until they start to buy shares back or pay a divi.

[frogkid] 06/6/2019 07:52

What are you on about deme ?

[deme1] 06/6/2019 07:46

that's 4 rns email alerts this morning all for JLP

[frogkid] 06/6/2019 07:39

Sorry Goldi, I disagree. We have bemoaned the fact that we had no II on board. Now we have because the game has changed and JLP is in a different league. Think medium sized company in the FTse250 rather than speculative explorer on AIM. if the PI are upset that we are no longer top priority then we just have to live with it and enjoy the ride, or find another gem in the dirt as we all did with this one. I have a fair amount invested here and I have never been so comfortable. Follow the money.RegardsFrog

[goldibucks] 06/6/2019 07:30

“It just means the share price will lag the companies position”. Exactly right. Tell all of your investors the earnings by project quarterly no more than one month in arrears and they can annualise that, convert it to accounting profit, and buy with confidence. Tell them half yearly earnings three or four months in arrears and the share price will only react to statutory reports.

The difference is about 18 months delay putting your current performance into the share price. If your performance is improving strongly, and JLP’s is, that’s going to hurt investors if you have to spend equity, and JLP have a history of spending it like confetti so it makes sense to report earnings data when it’s going up as quickly as possible. If earnings are falling, you do the opposite to preserve equity value as long as possible. It’s not rocket science.

And re Leon not being a wordsmith. I’ve always defended him and pointed out he’s a chemical engineer, not a traditional polished CEO. I can live with rambling announcements and presentations but tell me something I’d don’t know and give me enough earnings data so I can work out what’s going on.

The dumping of retail investors as a reporting priority as soon as they get some institutional investors on board and reach profitability is galling considering how long retail investors have supported them.

The reality now is we find out information from Shard, weeks after their analyst notes have been published for institutional investors. That’s asymmetric information in finance terminology and is completely unacceptable.

[deme1] 06/6/2019 07:28

from having a very late end email last night to having 3 come through this morning.
I think JLP have broken the advfn system

[frogkid] 06/6/2019 07:10

If the II are happy then so am I.

[gsg] 06/6/2019 07:03

Marky. Agree, that it is the natural progression for PI's to become 3rd class investors now that II's have become involved. Colin and Leon don't need to keep the market updated on a quarterly basis anymore. They just need to keep the insiders happy and updated. I reluctantly accept that as a natural evolution of the company, as long as the share price does the biz. If the share price does not perform, then as you say, it would require them being told face to face.

[frogkid] 06/6/2019 06:49

Leon is a chemist not a fricking wordsmith.

[1madmarky] 06/6/2019 06:23

Goldi, I agree with the point you are making. As far as shareholder communication is concerned the company has gone backwards. So instead of quarterlies we will get blar blar blar RNSs that do not give anything tangible. Plus the normal tardy year and half year updates. It just means the share price will lag the companies position even more e.g. we will know nothing tangible of the ramp up of the PlatCro PGM operation until March next year. Will give him grief at the AGM (for all the good it will do).
Guess it's what happens once you are in bed with ii's.

[deme1] 05/6/2019 23:23

I suspect a few missed out today

[deme1] 05/6/2019 23:22

only now getting my rns email alert

[goldibucks] 05/6/2019 23:05

'Positive increase' = an increase in positivity

No, you've switched the words around. A positive increase is an increase, no need for the word positive, it adds nothing. The point I'm making is that Leon had nothing new to say in today's announcement, it added no value, to the point where he had to talk gibberish to make his word count.

"So, I take it you have put your money where your mouth is, and gone short."

Nope. I didn't sell into the previous spike even though I suspected the price would fall, it always does in the absence of news. I'm not planning to trade my holding. I'll take the fall from today's close on the chin, the price will go back up in spite of the blank reporting as they layer on more earnings in Q2 and Q3.

The reporting is all over the place. First it's quarterly, then it's monthly, then it's back to quarterly, then it's an update after a couple of months, then they can't be bothered to do quarterly updates so we get a non-update with no earnings data and no new material information like the one today.

[rescuer] 05/6/2019 22:47

cracking post Kenny

[lostabillion] 05/6/2019 22:21

Just got the rns alert, 2200hrs.

[kennyp52] 05/6/2019 22:16

With no accounting figures coming for some time it makes sense to make regular RNS to keep the shareholders in the loop and retain some confidence this business is developing and improving . The only real jump in share price IMHO is when some audited figures come out showing profit and positive free cash flow . In the meantime it will be up to the market makers to decide how credible this RNS is ... because if there is sentiment this is a very cheap looking SP

[goingforarun] 05/6/2019 21:46

Doesn’t it provide certainty that PlatCro has started and Kabwe is closer?

[scrappycat] 05/6/2019 21:45

Just a point on the English language - that which you are so critical of:

'Positive increase' = an increase in positivity


'Negative increase' = an increase in negativity


Please explain, to an idiot such as I, how Leon's remark represents tautology. An 'increase' is not, necessarily, positive.

[goldibucks] 05/6/2019 20:45

"We should see a decent rise tomorrow". I don't see what today's announcement adds to previous announcements or why it was required.

The Zambian authorities are hardly going to block the purchase of Sable. We already knew DCM fine chrome was ramping up and today's announcement gave no further details on earnings. Initially they said DCM fine chrome was ramping up to "commercial" levels, they toned that down to "saleable", then they qualified the earnings potential of DCM via a Shard note, implying it was a proof of concept project that wouldn't add much to earnings, we knew Northam was going to be producing PGMs at Eland by May/June, and we knew they are talking to suppliers about run of mine zinc for Sable from the previous Galileo announcement.

Historically, they referred to Hernic as a 33,000 ounces-a-year PGM project, in this announcement they say 30,000 ounces, in Q1 they said Hernic had returned to "full operational levels" by producing "in excess of 2,000 ounces" in April, so that's just over 24,000 ounces a year. They are extremely muddled about Hernic and provide no further update in this announcement even though its the cash cow that pays the bills. Also, there no update on Platcro Chrome and that's the project that's going to drive earnings growth in the second half of the year.

Leon referred to a "positive increase" in chrome and PGM processing. Please can somebody explain to the si11y 1diot what tautology is. The last couple of RNS announcements have been poor quality rubbish and even that seems to be a chore for them to produce. Shareholders should get the same quality of information as they feed Shard. As a minimum, it should include the earnings of each project, not selective production data for a single project. I'd like to see them go back to regular quarterly project updates with a table of numbers for each live project showing ounces, revenue and earnings and a one sentence update on each pipeline project. How hard would that that be to produce? It's 1 side of A4 FFS.

Unless they provide Shard with some decent project earnings data to supplement this junk or have a new project to announce as some have intimated, I can see the share price falling back under 3p in 2-3 days.

[deme1] 05/6/2019 19:40

LONDON (Alliance News) - Jubilee Metals Group PLC on Wednesday said its DCM fine chrome project in South Africa is ramping up and is targeting a significant rise in June from May with completion in July.

Shares in Jubilee were up 5.6% at 3.09 pence in afternoon trade.

In May, production at DCM exceeded 3,800 tonnes of saleable chrome concentrate due to the commissioning of the facility at DCM. Jubilee is hoping for a rise 32% to 5,000 tonnes in June with the production ramp-up phase to complete by July.

Moreover, Jubilee's PlatCro platinum group metals processing plant in South Africa has begun commissioning with a capacity of 60,000 tonnes per month.

Production of platinum group metals is to begin in June, adding around 30,000 ounces of platinum group metals per annum to Jubilee's production and doubling annualised production capacity to approximately 60,000 tonnes.

Jubilee Chief Executive Leon Coetzer said: "Adding 30,000 ounces per annum of PGM production capacity to our existing 30,000 ounces is another huge milestone for Jubilee and should significantly impact our financial performance especially with PlatCro PGM producing in the low cost quartile. This is in addition to PlatCro chrome operation, acquired in January 2019, which is already contributing to company earnings ahead of projections.

"Alongside the positive increases in chrome and PGM processing, production at our DCM fine chrome project also continues to ramp up in-line with expectations."

Jubilee's acquisition of Sable Zinc Kabwe Ltd has also been officially recommended by the Zambian Competition & Consumer Protection Commission. Jubilee announced its acquisition of the Sable Zinc refinery in Zambia in March for a GBP9.2 million consideration in stage payments.

Coetzer said: "An important part of our on-going development strategy is to diversify earnings through adding additional projects, widening metal exposure and expanding our geographic footprint. I am therefore delighted with the official recommendation from the ZCCPC in support of our acquisition of the Kabwe zinc, lead and vanadium project in Zambia from Glencore. As a result, and to utilise time efficiently during this interim phase, we continue to finalise the process design which will allow us to hit the ground running on formal completion, targeting production in Q4 2019."