Jubilee Metals Share Discussion Threads

[lostabillion] 14/1/2020 16:27

I wonder if a pleasing update is soon to be RNS’d!

[rescuer] 14/1/2020 16:21

Losta - Fevertree - ha ha - one of my besties tipped Fevertree to me on the IPO - his brother in law is one of the directors - I decided not to buy any as i couldn't see the upside - doh !!!

[robers98] 14/1/2020 16:06

Zambia’s spiraling debt offers glimpse into the future of Chinese loan financing in Africa

Zambia is already restructuring, renegotiating or refinancing its extensive Chinese project finance debt, and Chinese companies are playing hardball, according to new research.

Southern Africa’s third-largest economy is under pressure from an impending breakdown of its power supply and its inability to pay for electricity imports, and is staring down the barrel of further defaults on construction project financing and bond payments.

State power utility Zesco revealed last month that a supply shortfall reached 810 megawatts in November, with Zambia and neighboring Zimbabwe both suffering 20-hour per day power cuts due to extreme drought conditions blighting its hydropower output.
Given its spiraling debt profile, Zambia has been unable to tap into its foreign reserves to import power from the likes of South Africa and Mozambique. The country’s sovereign debt is expected to reach 96% of GDP (gross domestic product) in 2020, while the country has defaulted on a spree of loans in 2019.

The most substantial of these was $107 million loan from Italian bank Intesa Sanpaolo to buy two military transport aircraft from Italian aerospace company Leonardo, according to reports from business risk consultancy EXX Africa and local media outlets.
China has provided billions of dollars of loans for infrastructure projects to a host of Sub-Saharan African nations as part of its sweeping Belt & Road initiative in recent years, with Zambia one of its most prominent debtors. The Belt & Road is China’s huge investment program around the world and is viewed as an attempt to control a global supply chain and boost economic activity.

In March last year, China Exim Bank threatened that Chinese contractors would suspend work on infrastructure projects in Zambia if arrears were not paid. According to a recent report from EXX Africa, several road construction projects contracted to Chinese firms were suspended late in 2019.
The International Monetary Fund has twice withheld a credit facility amid warnings that Zambia’s high debt and shrinking foreign exchange reserves leave its economy vulnerable. Zambian GDP has halved to just 2% over the past three years, the kwacha currency has depreciated by almost 17% against the dollar over the past year, and inflation is running at almost 10%.

In order to address the country’s economic slowdown, President Edgar Lungu said last year that his government would seek to reduce its domestic arrears and maintain debt within sustainable levels, having already delayed the receipt of loans totaling $2.6 billion contracted in 2018.

Official reports had external debt rising by $10.05 billion at the end of 2018 compared to $8.74 billion a year earlier, but EXX Africa and other independent research institutions have maintained that obligations are likely to be much higher than stated, on account of undisclosed Chinese project finance agreements.

China wants collateral
Zambia is already restructuring, renegotiating, or refinancing its extensive Chinese project finance debt, EXX Africa Executive Director Robert Besseling told CNBC, but evidence of Chinese patience wearing thin extends beyond road construction projects.

“Chinese companies are putting pressure on the Zambian Finance Ministry to avert further delayed payments or defaults on their loans. However, Chinese companies are refusing to restructure existing debts and are instead seeking fresh collateral in case of default,” Besseling highlighted in the report.

Most notably, Chinese firms are seeking to capitalize on the liquidation of Konkola Copper mines, a subsidiary of London-based Vedanta Resources. Zambia is Africa’s second-largest producer of copper.
EXX Africa’s research also highlighted that Chinese companies are seeking control over Glencore’s Zambian operation Mopani, which may be heading towards a sale, and the country’s largest producer, First Quantum Minerals.

The group’s records show that China Civil Engineering Construction Corporation is seeking a restructuring of loan agreements that could involve mining assets being placed as collateral, while Besseling told CNBC that negotiations are likely being conducted by China Exim Bank, Sinosure (China Export & Credit Corporation) and Chinese government officials.

[lostabillion] 14/1/2020 15:34

.....and some more!!!

JLP is going to do a “FevertreeR21; this year imo!

Keep adding whilst we’re in single digits would be my unofficial advice.

[adejuk] 14/1/2020 15:29

and some if you don't panic

[marmar80] 14/1/2020 14:15

Not posting lately a lot here, but can see likely return to 6p which will make me see my break even. Finally after years of waiting.

[mikebolle1] 14/1/2020 13:20

I hope we will be soon open for business in this environment.

[adejuk] 14/1/2020 12:51

poised for ano tick up

[lostabillion] 14/1/2020 12:46

Another 250k :-)

[frogkid] 14/1/2020 12:08

LOL fair enough !

[robers98] 14/1/2020 12:06

Investment giant BlackRock bows to climate emergency pressure - business live



We invest on your behalf, not our own, and the investments we make will always represent your preferences, timelines, and objectives. We recognize that many clients will continue to prefer traditional strategies, particularly in market-cap weighted indexes. We will manage this money consistent with your preferences, as we always have. The choice remains with you.

As we move to a low-carbon world, investment exposure to the global economy will mean exposure to hydrocarbons for some time. While the low-carbon transition is well underway, the technological and economic realities mean that the transition will take decades. Global economic development, particularly in emerging markets, will continue to rely on hydrocarbons for a number of years. As a result, the portfolios we manage will continue to hold exposures to the hydrocarbon economy as the transition advances.

[cantrememberthis2] 14/1/2020 09:07

Bank you profits and then some.
Easy 1x Bagger all over it

EVE SLEEP

Cash in Bank higher than Market Cap

Just 6 days time for results

[plat hunter] 14/1/2020 09:06

In short, I find pointing out Aces' short comings and letting him contradict himself, simply hilarious.

[frogkid] 14/1/2020 08:25

Platty , why on earth do you bother with people like aces? Froggy

[plat hunter] 13/1/2020 22:51

What's your thoughts Aces, where is the company going and what price do you think you'll get for your imaginary shares, this time next year?I don't think we've ever heard them from you, surely you're more than a vacuous troll?

[the skipper] 13/1/2020 17:13

From memory Anglo Plats had an option to buy the Quarzthill farm part of Tjate and I am not sure if this has expired. My understanding was that it could be mined by extending adits underground from Anglo's adjacent mine rather that sinking new shafts. IF that remains the case it could come on stream much earlier in the new PGM price cycle than might otherwise be the case, and as we now have a decent track record as a tailings processor there seems to be a deal which could be done there to let Anglo have it for a fairly nominal sum in exchange for the rights to their tailings.

[goingforarun] 13/1/2020 16:27

I think we should sell the licence and treat the tailings!

[adejuk] 13/1/2020 16:12

losta
unless trump farts!

[lostabillion] 13/1/2020 16:02

We’re at the start of a PGM super cycle so naturally Tjate will come into play. We won’t develop it though, that will be a Chinese conglomerate! We’ll get hefty ongoing royalties imo.

On track for a 5p+ finish to the first month of the year.

[adejuk] 13/1/2020 15:41

we should sell the bloody thing asap at a profit to someone who has pockets deep enough to throw money into a hole in the ground.

[adejuk] 13/1/2020 15:40

we'll be f'd if they try to mine tjate

[deme1] 13/1/2020 15:32

Lets have another test of 4.5p this week please!