Jubilee Metals Share Discussion Threads

[frogkid] 17/8/2019 08:01

Kryptonite

[plat hunter] 17/8/2019 06:50

Is anything going to stop Rhodium

[goldibucks] 16/8/2019 23:25

“ I genuinely hope you get back in for less.” Thanks. I’ve repaid all of my JLP debt with the proceeds so I don’t have that option. Unless you want to lend me £50k to have another crack?! ;-) You never know I might get a windfall, JLP might get everything back on track at Windsor Chrome in Q3, and the market might take a hammering on 1 November. I love to buy into a panic. I was researching Woodford Patient Capital Trust earlier today. Decided future mark downs in the carrying value of the unlisted investments and the open ended Woodford fund being forced to sell made it too risky for now but they are in my watch list.

[goldibucks] 16/8/2019 23:12

“If Jubilee's lawyers did their job properly...” Jubilee won a tender for Hernic. They had £1.5m of revenue in the year ended 30 June 2016. Would have been a significant mismatch in negotiating position between them and Hernic / Mitsubishi, hence the eventual 85% profit share. Their lawyers may not have been in a position to add default clauses that gave them legal ownership of Hernic’s tailings if Hernic got shut down and even if they did, they may only trigger if they haven’t recovered their original capital investment. The reporting of the terms of the Hernic deal have been sketchy to non-existent, investors only found out about the 85% share in March. Best to assume that Hernic will continue to allow JLP to process the tailings if it’s in their interests to do so until JLP state they have a legal obligation to do that. JLP’s lawyers didn’t think to get a letter from the Zambian Mining Ministry to confirm there were no issues they needed to be aware in relation to their Kabwe licenses before buying 29.01% of BMR. Colin didn’t think to ask that either and he’s run dozens of PLCs.

[plat hunter] 16/8/2019 22:39

Cheers Goldi and fair play for calling it, I genuinely hope you get back in for less.. I foolishly didn't this time but only as I feel this could go at any time. Although if anything, it'll probably remain soft until November

[goldibucks] 16/8/2019 22:12

Don’t think there will be a placing Krypton. They can cover their operating costs with just Hernic for the next couple of years and still have cash left over and I think they will be under pressure from institutional investors to focus on Kabwe rather than burn more equity on new earnings streams.

Plat it’s possible that Hernic going bust would be a contractual default as you say and legal ownership of the tailings would revert to JLP. Also, if the purchase does complete it’s possible JLP will buy out the profit share. If penalties have been triggered that push the share out until 2022 and even then it gets phased in, Samancor may prefer cash upfront whereas JLP will prefer the earning. JLP would probably debt finance it. I reckon it would cost them about £10m.

BookwormRobert if I have to choose between the loss of your respect and calling the share price direction correctly, I’ll take the latter. I’ve sold and bought back cheaper twice before, each time with plenty of commentary, you should have lost respect for me a long time ago.

[deme1] 16/8/2019 22:06

what a DOG

[plat hunter] 16/8/2019 21:44

Damn!

"You can't vote for this post twice."

[bookwormrobert] 16/8/2019 21:38

Hi KryptonSnake!
I remember you from the old days as one of the most idiotic rampers of BMR. That didn't end for you well, did it?
The only placing I can imagine here is to fund a major copper/cobalt development. As long as it is EPS positive, that would be OK with me.
Goldi's posts have degenerated into "what if" scare stories. Neither he nor I have access to the original Hernic investment contract, but I do have some experience of such things (i.e. I've run a PLC). If Jubilee's lawyers did their job properly, there will be all kinds of default and penalty clauses in the paperwork, the end result of which would mean that a Hernic bankruptcy and closure would prove highly favourable to Jubilee (except that there might be no new tailings arising).

[plat hunter] 16/8/2019 21:25

That feels better

kryptonsnake16 Aug '19 - 21:19 - 13817 of 13818 (Filtered)

0 1 0
kryptonsnake16 Aug '19 - 21:22 - 13818 of 13818 (Filtered)

[kryptonsnake] 16/8/2019 21:22

bookworm is another desperado LOLsss

Goldi locks is a shareholder and has every right to sell and buy as he pleases

When the share price drops to 2.6 and below you won't be calling his posts garbage then will you?

See you at the next placing you mug


LOLsss

[kryptonsnake] 16/8/2019 21:19

Platts has filtered me AGAIN LOLsss

Is that the 4th time you sad little desperate man. You're balls deep in Jubilee and desperate to get your money back. I told you all this was going back to 2.7 but the rainbow chasers decided to laugh and ignore me

See you at 2p when you forgot you "filtered" me


LOLsss

[sleveen] 16/8/2019 21:05

Goldi

Hernic have shut the furnaces to conserve cash. But as we know chromite has increased in price of late.
Agree quarterly reporting and by project should be reinstated.

How many scenarios can dance on a pin head and what stops them from falling off?

[bookwormrobert] 16/8/2019 20:57

Hi Goldi!
Seriously losing all respect for you now. Sell and be gone, if that's what you want to do.
Your posts now are full of garbage. I strongly suspect you are deramping looking for a lower re-entry, which is pathetic.

[plat hunter] 16/8/2019 20:57

Apologies Bull.

I've filtered them both now instead, it's just relentless nonsense. Anyway, I remain convinced this will blast through 3.6 within weeks from now. So the badly stuffed kebabs can go munch each others garlic sauce.

[the bull] 16/8/2019 20:29

Can we avoid the cee u next tuesday word on here please. Call me a 54 year old prude but it grates

[plat hunter] 16/8/2019 20:28

2.60 is where I see the lower support at Goldi.

I wonder what would happen if the Hernic rescue fell through. I wouldn't mind putting money on JLP keeping what they've earned and keep the plant to boot. Whilst it's not fully paid off I'm sure it would be classed as a default.

How much would our Hernic build be worth as a distressed asset anyone?

[goldibucks] 16/8/2019 20:16

Sold another 750k at 2.8p-2.84p. Don’t think there was a single buy today. Somebody knocked out 560k late in the day at 2.7p. Think the share price will settle at 2.5p-2.6p which is a market cap of around £46m-£48m.

“Hernic rescue process will not affect JLP.”

I don’t agree with this comment Sleveen. If the Samancor purchase of Hernic collapsed and Mitsubishi put it into administration, the liquidator may decide it’s in Hernic’s interests to let JLP carry on processing to get their 85% profit share but if penalties were mounting they could also breach the contract and let JLP put in a claim as an unsecured creditor which they may get nothing back from to force JLP to agree a new deal or earlier share.

If JLP had to provide against the chrome in the Windsor tailings at 30 June 2019, Hernic must be feeling the pinch. Presumably, the SA government could put pressure on Eskom to agree a deal with Samancor to keep Hernic open and save jobs.

JLP should reintroduce quarterly production data reporting at Q3 19 by project rather than by metal. Maybe they could also reconcile project earnings from one quarter to the next by project to build trust. I don’t think half year reporting only is in anybody’s interests. Institutions with access to inside information still need liquidity and they won’t get it unless everybody can make informed decisions.

[1madmarky] 16/8/2019 18:47

Bullster - you asked about the cost of a fine chrome plant...
Shard presentation from March/ April time
"Capex. The fine chrome plant is another low capex initiative with total pre-
production capex of $3.4m."

So if it is performing as well as Leon makes it's a no brainer to have more than one if supply is large enough.

[plat hunter] 16/8/2019 17:38

Krytpon I don't commute into London to work either. I've never said that I do. I do however spend a lot of time in London but rarely for work.

You're not a very sophisticated person if you think everyone is in the same boat as you, trying to hold down a 9-5.