Jubilee Metals Share Discussion Threads

[niloc4] 25/8/2019 18:10

Leon Leon Leon. I write all this about you while I'm still invested in jubilee. You and Colin should both be fired.

[niloc4] 25/8/2019 18:04

Leon Leon Leon.. Mining investors must all be laughing at you with your little 27400 investment in jubilee.

[niloc4] 25/8/2019 17:54

Leon why are u so afraid to buy jubilee shares? You have such a big mouth CONVINCING other investors to part with there monies and yet u are not prepared to part with yours. What would you call that?

[niloc4] 25/8/2019 17:48

There has been no premium for over 15 years. There has been a destruction though.

[niloc4] 25/8/2019 17:43

Censorship is the winner.

[plat hunter] 25/8/2019 16:29

Kenny... There's several years of audited accounts.

Companies like JLP are for people who can read audited accounts and reconcile them against the progress of the company and ongoing projects and ongoing macro events.

People who wait to be told that the profit is there, usually pay a premium. In all honesty I don't think you'll see what you want here, until 2021/22

[sleveen] 25/8/2019 14:32

BZT & XTR both have Cu ops in Zambia, GLR have Zn ops in Zambia.

All 3 have CB involvement.

BZT & XTR may need plant to get to concentrate stage before it's worth transporting to Sable for refining.

Pententially JLP could provide offtake finance to get the concentrate plants up and running.

Clearly possible/probable future projects.

Ducks lining up for Sable?

[niloc4] 25/8/2019 12:36

Leon do yourself a favour. Learn the words NET PROFIT AND IMMINENT.

[niloc4] 25/8/2019 11:58

Leon won't get a FD. A FD will mean the end of Leons transformational earnings CON Spin.Jubilee has passed that point that Leon mentioned months ago. Since then the share price has fallen. Did Leon mean a FALLING POINT.

[scrappycat] 25/8/2019 09:51

So, Leon is seeking to increase the II level in the company. I can't imagine much happening on this front, unless, and until, JLP get themselves a FD and produce some audited accounts.

[plat hunter] 24/8/2019 17:55

Not actually filtered you yet for some reason Aces.

But like you, Goldi does just keep saying the same contradictory opinions over and over again just in a slightly more long winded fashion.

And still like you, he doesn't hold here and has never invested in anything else. Perhaps you can both comfort each other on your lost time, money and effort.

[niloc4] 24/8/2019 17:48

Plat Hunter works for Leon and Colin. Plat Hunters and the jubilee share price have something in common. They both are continually being blown. No one sucks like plat Hunter at the caravan park.

[aceshi] 24/8/2019 17:13

As usual an enlightening and informed response from Platt. Sure sounds like you have a factual argument to counter his opinion. Why you keep telling us who you've filtered? No one gives a continental. Perhaps you the one who should get out and give us all a rest for a few days. Surely you must realise that most here who have been subjected to your endless commentary, for a period of time, have cottoned onto the fact that your opinions are mostly inaccurate and you have a habit of claiming the high ground, after the fact. And don't forget, you've filtered me.

[sleveen] 24/8/2019 13:10

Wait for the ITM placing.

[tullynessle] 24/8/2019 11:28

Relatively small at the moment - however growth will follow the provision and commissioning of infrastructure.


"............and covers the refuelling of all types of hydrogen vehicles; from passenger cars to commercial vehicles, including buses, trucks, trains and ships."





7 May 2019

ITM Power plc

("ITM Power" or "the Company")

Shell Collaboration Agreement

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the extension of the UK refuelling collaboration agreement with Shell, which was originally announced on 10 September 2015. The new agreement will run until 2024, and covers the refuelling of all types of hydrogen vehicles; from passenger cars to commercial vehicles, including buses, trucks, trains and ships.

Current and planned Shell and ITM Power UK refuelling stations:

RNS continues......

[tullynessle] 24/8/2019 11:22

Sector news - hydrogen



23 August 2019

ITM Power plc

("ITM Power" or the "Company")

ITM POWER SECURES EQUIPMENT SALE TO BOC PROJECT IN AUSTRALIA

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the announcements today by BOC and the Australian Government via the Australian Renewable Energy Agency ("ARENA") of its support for a project for BOC to produce hydrogen from renewable energy at its Bulwer Island gas facility in Brisbane. ITM Power is supplying the 220kW electrolyser. The full text of today's announcement by ARENA is set out below.

Support for renewable hydrogen production in Brisbane

The future of hydrogen as an alternate energy source continues to develop under the Liberal National Government.

The Liberal National Government, with the Australian Renewable Energy Agency (ARENA), is supporting gas company BOC to produce hydrogen from renewable energy at its Bulwer Island gas facility in Brisbane.

The pilot project will involve the installation of a 220 kW electrolyser and a 100 kW solar array to produce up to 2400 kilograms of renewable hydrogen via electrolysis per month. The project will utilise the existing industrial gas equipment and infrastructure onsite.

The project also includes a vehicle refuelling station in Brisbane. In addition to supplying BOC's existing industrial customers, 50kg per day of renewable hydrogen will be produced by BOC for the refuelling station.

The Government through ARENA has provided $950,000 in grant funding towards the $3.1 million project.

By some estimates, global annual demand for hydrogen as an energy source is expected to grow from around 1 million tonnes at the present day, to around 35 million tonnes by 2040.

The development of large-scale hydrogen production, storage and export facilities could deliver economic benefits to Australian businesses and communities and provide reliable, affordable and low emissions energy to overseas trading partners.

In December 2018, the COAG Energy Council, led by the Australian Government, commissioned officials and the Chief Scientist to develop a comprehensive and ambitious national strategy for the development of an Australian hydrogen industry, to be delivered by the end of 2019.

The National Hydrogen Strategy will examine the use of hydrogen in exports, transport, and the gas distribution network, for industrial users and to support electricity systems.

Hydrogen technology will help lower the cost of reducing emissions, so that we can meet Australia's global climate commitments without sending industries and jobs offshore.

Today's announcement builds on the more than $100 million the Government has already invested in hydrogen projects around Australia.

Continued......

[goldibucks] 24/8/2019 10:30

“I think Goldi sold out because his arithmetic is not very good.“

My arithmetic is fine. Shall we go through the mistakes people make on this board with their arithmetic?

1) When Hernic was JLP’s only profitable project everybody would calculate how much money they were going to make based on PGM spot prices whilst failing to appreciate they produce a PGM concentrate which has a lower value. As several posters have pointed out, they can’t recalculate Windsor Chrome revenue for H1 19 based on production data so be careful when you are trying to forecast JLP profits on new projects. Concentrates do not have the same value as the underlying metal.

2) We’ve gone through a period when JLP made profits on Hernic and nothing on DCM. JLP seem to make about £2m a quarter on Hernic with it fully ramped up. Posters often over-estimate how much it will make and fail to ackowkedge that to make that £8m it’s incurring at least £4m a year of central costs so the real value to shareholders is £4m a year and 85% of that is getting shared in 2 years so hardly anything is washing through to support market cap.

3) Posters ignore that JLP originally signed up to do Hernic for a 30% return on a £13m investment or less than £4m of real profit. Go back and calculate how much JLP’s market cap increased as a result of Hernic. Was it by £4m? It was tens of millions. JLP investors can’t add up. This encourages JLP to spend equity. Investors moan but it’s in their interest for JLP to spend overvalued equity. Why do you think Leon doesn’t buy any shares?

4) As well as not including an allocation of central costs, Hernic profits don’t include a cost for the tailings because they are processing for Hernic. This flatters the profit. JLP had to buy the PGMs in the Windsor tailings, they paid £3m. That cost will come off what they make on Windsor PGMs. I can’t see that factored in to the numbers being floated on this board.

5) If Hernic and Windsor Chrome generate £56m in the next 2 years whichs supports the current market cap, how come Shard put a LIFETIME DCF value on them of £19m for Hernic and just £8m for Windsor PGMs in their March 19 note? Also, that £8m for Windsor PGMs won’t be the reported profit because they have to charge the cost of the tailings, £3m, to their Income Statement this time plus the accumulated transport costs built up in the stock value but you’d ignore that for a DCF valuation because they don’t have to pay cash for the tailings and had already transported some of the tailings at that point.

6) If your arithmetic is correct how come there is a £20m difference between what Shard say, £8m, and your £28m for Windsor PGMs for the next 2 years? To quote Shard;

“Eland will be the operator of the plant and charge JLP a fixed fee based on tonnage. Under the profit share terms, JLP retains the majority of the earnings.”

Are you factoring in the tonnage based fixed fee JLP are paying Northam to process AND the profit JLP are sharing on top of that? Then as I say, you’ve got to take off the original stock purchase price plus transportation costs to get from cash flow to an Income Statement profit and loss and that still won’t include an allocation of central costs.

Project earnings are not the same as net profit as Mdalos points out. I’d go one step further and say you have to consider economic profit. That’s net accounting profit less a cost for the equity shareholders are providing. Interest on debt gets included automatically in accounting net profit but expected return on equity is excluded.

As a three time investor in JLP I concluded there will never be enough left from what JLP makes from processing to pay taxes, a dividend, and grow the business from cash flow. What they do isn’t profitable enough when you factor in the cost of the chemical engineering skill required, plant capex, tailings, cost of financing and tax. And then to top it all, it’s incredibly risky in terms of commodity price risk, political risk, and operational risk.

JLP looks like a golden goose at first glance but when you get under the bonnet of the economics and the risk versus reward, things are not as rosy as you might think.

[scrappycat] 24/8/2019 10:27

This might be of general interest here:

Bosch Fuel Cells Need 1/10 Platinum Used in Current Fuel ...