Jubilee Metals Share Discussion Threads

[plat hunter] 30/7/2019 16:20

It's tough over there atm Rescuer but luckily i crystalised some of my previous gains just the other day so could be much worse. Some peeps over there just watched it go up and all the way down without any reward.

I don't have much over there and still accumulating so stops aren't really worthwhile for me at the moment but will be looking to add again over there by the 10th August.

The writing has been on the wall and they even informed everyone of the state of affairs in advance of todays results. Looks like usual PI's jumping off a cliff to me.

[bullster] 30/7/2019 15:46

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KABWE AND SABLE COMBINED PROJECT, as per RNS 21 March 2019.



Cost of KABWE £9.16 Million
Cost of SABLE £9.16 Million (that's a coincidence)
Overall project capital to produce first metal is significantly reduced to some £18.32 Million


JLP is financing the Acquisition and ramp up by an equity raising of £11.07 Million (already carried out in March 2019)
PLUS a secured convertible loan note of £6.11 Million and bears interest at 12% per annum and is repayable in full 36 months from the date of execution of the funding agreement.
I will assume the extra £1.14 Million will come from cash.


GLENCORE will be paid in three instalments for SABLE as follows:

£4.58 Million within 5 business days after fulfilment or waiver of the conditions precedent to the share purchase agreement ("Closing Date");

£2.29 Million on the earlier of the date falling 30 days after the date of completion of the conversion of the Sable Zinc Kabwe plant to a zinc processing plant and the date falling 6 months after the Closing Date ("Second Instalment"); and

£2.29 Million on the earlier of the date falling 30 days after the date of commencement of commercial production and the date falling 6 months after the Second Instalment.


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[scrappycat] 30/7/2019 15:39

niloc,

I am inclined to feel the same. They look like buys to me, at an agreed price c3p. Could be more to come. Another II, or the recent buyer increasing its holding perhaps.

[rescuer] 30/7/2019 15:33

Plat - was also thinking of you today re Fres, had it on my watch list for a few years, hope you had your stops in.

[kennyp52] 30/7/2019 15:29

you hiding in here Plat ? Some boys over on the FRES board want a word with you ... advising it was on the up yesterday then going to get a bounce today . I thinking they have some rope for you .

[rescuer] 30/7/2019 15:13

i read it that the 3 x 1m trades were all buys - IMHO of course, over mkt size, delayed trades.

gla

[niloc4] 30/7/2019 14:57

Leon, u are a disgrace. WHEN IS YOUR MID CAP DREAM COMING. Imminently I'm sure.

[plat hunter] 30/7/2019 14:54

It's also down to the expense ratio of the fund too. This is a key cost ratio and is published to the end user in marketing material and thus can not be exceeded.Fund managers will use ETF's to manage the funds weighting... Which is way way cheaper than rebalancing 100+ holdings at a time.They'll only properly rebalance maybe monthly even in the most active of managed funds.

[sleveen] 30/7/2019 14:29

PH

Thanks.

Selling say 10m JLP would work against Miton as the price progressively fell as selling progressed.

[ginko3] 30/7/2019 14:24

I'm sure we'll be told who is accumulating once they have finished.

[ginko3] 30/7/2019 14:23

deme . . .for every sell there is a corresponding purchase . . you really think the MMs want to be sitting on bucket loads of shares?

[plat hunter] 30/7/2019 14:21

Most fund managers use liquid ETF's to cover box transactions. Unless Miton was going down the tubes i'd pretty much doubt they'd need to be selling down tiny allocations of AIM penny stocks to meet daily box liquidity requirements.

the volatility of individual penny stocks would adversely effect the funds performance if keep dipping in to meet end user purchase and repurchases.

[the skipper] 30/7/2019 13:54

The three large trades all have the LRGS flag if you check with the London Stock Exchange site, meaning large in scale deferral. I suspect they took place when the bid price was 2.9, but could equally be Miton offloading as they have been doing recently with loads of other stocks to meet fund redemption requests. I think they have until 10th August to pay those redeeming their holdings, so if they have been selling it should have finished by now or in the next few days.

[lostabillion] 30/7/2019 13:38

My thoughts too Bookworm. Another TR1 later in the week?!?

[goldibucks] 30/7/2019 13:38

“Stinks of a placing in the making”. Only to fund another project or earnings stream. Hernic and PlatCro chrome are generating far more cash than JLP’s operating costs and the interest they are paying. Then they have cash to come from PlatCro PGMs with Kabwe funded.

[lostabillion] 30/7/2019 13:36

Don’t tell me Deme1 that you’ve sold your shares again. Bonkers if you have but that’s just my opinion.

[deme1] 30/7/2019 13:33

What demand?

[bookwormrobert] 30/7/2019 13:31

A raise? Hardly.
JLP must be cash-rich at the moment. Other than the ongoing cash generation from Hernic and Platcro operations, they must still have most of the money they raised for Sable on account.
More like there is a big buy in the background, and somebody is offloading shares into the demand.

[deme1] 30/7/2019 13:20

Stinks of a placing in the making.

imo

[sleveen] 30/7/2019 13:05

...and yet the bid is up. Curious.

[1madmarky] 30/7/2019 12:54

3m dumped so far today, be good to see the seller long gone

[goldibucks] 30/7/2019 12:50

Share buybacks are not a silver bullet either. If the company is overvalued, shareholders would be better off with dividends. If it’s undervalued, they may be better of with a new BOD that can persuade the market to apply a better earnings multiple, buybacks are a tool an underperforming board can use to push the share price up and make it less profitable for a hostile bidder to take them out. They then trash the value of the company or just underperform and when the buyback cash dries up, you’re back to where you started.

[goldibucks] 30/7/2019 12:44

JLP and SLP are incomparable in terms of expected share price movements. SLP is a mature x2 play on the price of PGMs. JLP is has only just turned profitable and is producing PGMs at Hernic but about to share most of those earnings, hasn’t started producing PGMs at Eland yet and has interests in other metals like chrome and soon to be vanadium, Zinc and lead. I don’t get the comparisons investors draw, it’s apples and oranges to me.

[the bull] 30/7/2019 12:40

growing pains deme

[deme1] 30/7/2019 12:30

What does SLP have that JLP does not

A bod that buy back shares and not issue them like confetti ;(