Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The Capital spend on the Sable refinery and the circuits was part of the agreement and we should be getting our Royalty on the integrated Kabwe Project. Where is the royalty agreement, is there a FOI in order to see this illusive agreement. How are costs apportioned for the "integrated" project. Our royalty must be on the whole. Fess up Bird or just pay up for those billions of £'s of tailings you are doing nothing with. We want our 11% on all the profits from Kabwe after you have recouped your investment costs. But as luck would have it Bird, you are in a corruptible position having a foot in both camps and in a very conflicting position. You will have a lot to answer for if the BMR holders do not get their 11% of everything Kabwe.
https://jubileemetalsgroup.com/investors/rns/kabwe-multi-metal-processing-project-update/
Bolstering the Team
Jubilee has deployed a senior management team to the integrated Kabwe Project to further strengthen its existing team of 110 employees at Kabwe. The Company is expecting the team to grow to 200 individuals at full project capacities.
Lastest accts show Director's interest as Borrelli 2.4m shares and Bird 506K shares.
Question is whether these holdings were "gifted" or "bought with their own money".
If the former then a write off (shares are worthless) will not hurt the holders financially.
If however they were bought with real money, as we all did, then the possibility of a real financial loss (shares are worthless) then that might just concentrate some minds!
Would JLP be content to "write off" their 97.3m share holding.
Bird is boss of both of course, which shareholders are his "priority" and possible conflict of interest.
Although I'm not sure I would trust the "management" to designate their holdings as "different" from "ordinary shareholders".
Let's face it trust in the management went flying out of the window long ago.
My views. E&OE.
....previous and current directors reads like a list of con artists - BoMan has been in and out a few times. Several of the folk listed have been mentioned over the years. Surely there has to be a way of stopping this sort of nonsense. I went in with my eyes open of course, but a who's who of lying cheats, even down to Anita
Exactly. It is utter incompetence. Thankfully I bought enough JLP to cover the BMR losses, but what a joke this company and its leaders are -- how do they get these p/55 poor CEOs hen there are literally millions of competent people who would do a better job.
if he left the jlp shares alone we might well have been in a position to get a large part of our investment back.
JLP shares might hit 40p next next and our shares were sold for around 2.25p...
Bozzer will buy them. He told me they were worth multiples of the pre delisting share price.
I have lost many thousands. Only hope i have of recovering anything is by declaring the loss to off set tax gains in other investments. But how the bloody hell do i sell what can't be traded ?
£22k ouch!!!
Coming up to 4 years since delisting 3rd August 2018 . How much have we suckers lost on this one ? Me luckily only £525 . , but it still hurts.
FireballXL5, I think the key is the last sentence, "As a consequence...........we are awaiting the formal certificate from Jubilee."
My best guess is that we are still "awaiting".
Prove me wrong, anyone, someone, please.
Outlook
We look forward to Jubilee·s full implementation and successful operation of tJ1e Kabwe Project and to the receipt in due coui e of royalty fees for the benefit of the Company.
We arc confident that we can source an attractive acquisition opportunity for the Company within the
mining sector. We remain firmly of the view that we can raise funds and achieve a re-listing and we expect to update shareholders · QI of 2021
https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/Z2gJ_6D9scMbXVqG3GkVjfhKmj6_IWlB7lr5WwzGBKo/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3L3BGHSOZ%2F20210630%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20210630T123236Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEMf%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJGMEQCIFYUx6nqyUGYjywEZpN0bYSDEiWGEggzBGmDes2T7zUyAiB5KPgxez7%2FQj2TLQTK6VyH4ogFEce3cRaMN4Yq4%2BRGXCqDBAig%2F%2F%2F%2F%2F%2F%2F%2F%2F%2F8BEAMaDDQ0OTIyOTAzMjgyMiIMnLoJLuc8qKx9EFZ9KtcDVZkF35m5Q%2Fl0%2BqMPv6wXAA5mM9QFPW21%2FZBY%2B%2Fq%2FEnUmPUivbK8HnfawpK12k%2FnBpvJgvNK%2F9zef%2Bh5UyYyutRDpOj9MDP6HwKmjQm%2BRgYshRcBPNhK9t3STh%2BExD0xOZ23xU9EKip8PVdu0frl6XDGzhs2bqmMEByxmpX2u5EOCaz%2Ba%2BrxrRmi4IaaY6dnDZjQQwIRMbNbpihoL%2Fyy42DYwg9iH0HRVK1zEJ9Dny22IdCK0GIcxPpN0ys1LI193NfWc1Pq9NLp0txMLGcBj3%2BX2QtOM05QND1Bdq9vdXb99ycLYK0tVW3YB7f4WC%2FKN5KQcZhmVx%2F0qPlc7X88Sff9JSB9867haqRfASh%2FPLOiRT7Ztag%2BTEYG4gTWONi69fvT6Qsnrl7EygXzTc1L938xpGEysSlLdfkDhEuJaIU2f3uW9aWDlPu84y3GDmGFAYnLWv1TLNX9xFlUfOIivPD%2FAGNTv1yGw3UXIoazkSmyl0zahSgEawTcuORi1mG18%2BKitFkHRSG7Am1KolD2KQyYG7M8gwQ2JEKob7fCGpvbXqAyiGh3He6dxtGzhHxYx%2BtYefu62sFMHp0ABhFXpItgIm0ROW7n6PTw%2BrN4kw9fZIHRNtrTWMOeg8IYGOqYBfz19pughhndIBGk64kvTfIHTzgGUXH5YsgVxlOWc%2Fta5x0Cx8KxJv2BW8TlCtq0wcR5kL9GjZ565KX9gyRb3qxgcqDiwaL3wZ3OEDL0I344WQkLjQTI6Ukrc3ck0JcYDkXZZP0kbd9jf2dIwkuJw2pUsYjEnV6a4tOp92VktpQt6QBD3uzM9CrRl%2BjSfx%2FHbSpYENLMJecmTZUIKLTwbpCKVSnU5kA%3D%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&X-Amz-Signature=8da3c661f146a2b255b4c12726a08d4a0ce5bfeb184c5dd167417dbcdfbecbb3
Includes the copper processed at Sable:
Jubilee is the sole operator of the Kabwe Project and has full control of the execution methodology. In addition, Jubilee has agreed to fund the Kabwe Project by way of debt finance without dilution to BMR's shareholding which amounted to a fixed 11%, as Jubilee's total capital investment to fully execute the Kabwe Project exceeded US$15 million.
Jubilee announced on 23 August 2019 that it was seeking through the Kabwe Project to establish a fully integrated metal recovery and refining operational footprint in Zambia following its acquisition of the Sable Zinc Refinery which significantly reduces the implementation time lines and project capital equipment. The Kabwe Project combines access to large surface material with the adjacent multi-metal refining capability and its resource comprises an estimated 6.4 million tonnes (3.2 million JORC compliant) of surface assets containing 356,843 tonnes of zinc, 351,386 tonnes of lead and 1.26% equivalent vanadium pentoxide. This excludes further third-party sourced copper and zinc rich mined material for further refining. The adjacent Refinery is to be expanded to include a copper, zinc, vanadium and lead refining circuit based on Jubilee's extensive process development and optimisation works program.
Jubilee has stated that it is fully funded to execute the Kabwe Project which will be implemented over three phases: Phase 1, the upgrading and commissioning of the copper refining circuit with a targeted capacity of 3,000 tonnes of refined copper per annum; Phase 2, the implementation of both the zinc and vanadium refinery circuit with an initial targeted capacity of 8,000 tonnes per annum of zinc contained in a high grade zinc concentrate suitable for the market and 1,500 tonnes per annum of vanadium pentoxide; and Phase 3, the implementation of the lead refining circuit with an initial targeted capacity of 11,000 tonnes per annum of lead contained in a high-grade concentrate.
Subsequent to the year end, Jubilee acquired the balance of Enviro Mining Limited from BMR and, in September 2020, Jubilee announced that it had received notification from the Minister of Mines and Mineral Development in Zambia of the approval of its application for the renewal of Small Scale Mining Licence 7081-HQ-SML in Kabwe, Zambia (the "Licence"). The Licence is in respect to the minerals lead, zinc, copper and cobalt. The Licence renewal was approved for a period of ten years and is subject to a number of customary conditions specified by the Minister of Mines and Mineral Development.
As a consequence, BMR's interest in the Kabwe Project has converted to an 11% royalty and we are awaiting the formal royalty certificate from Jubilee.
3card- very true but i'm one of those mugs that would probably try to average down if this did come back to the market!
Mike. One consolation. We can't lose any more than we already have.
But we can't officially write these off?
3 years since delisting and look in a worser position
i'd rather just move on now away this disaster...
also suffered losses here...although my portfolio still names my holdings. Is this another RRL > STA or PPA > ADM....probably
stick you cash in Lloyd's or Royal mail or Wickes...less risk
Will we hear a mummering or will the silence abruptly end or have they forgotten completely?
Registered office address
7/8 Kendrick Mews, South Kensington, London, United Kingdom, SW7 3HG
Company status
Active
Company type
Public limited Company
Incorporated on
5 July 1989
Accounts
Next accounts made up to 29 December 2020
due by 29 June 2021
Last accounts made up to 29 December 2019
Confirmation statement
Next statement date 6 July 2021
due by 20 July 2021
Last statement dated 6 July 2020
I also incurred heavy losses here years ago. I was very naive back then and got roped in by some very aggressive rampers . I now know they where obviously profiting heavily rom mugs buying in ... probably linked to brokers somehow.?! I image these guys are now long gone with our cash. There was also a guy who used to fight the rampers every day and took loads of abuse doing it . Magicmonkey or something like that? Much respect to that guy. Lesson learnt and we move on.
Just saying goodbye to it!
Do we have a payroll and how many people are on it, doing the square root of naff all in the interests of shareholders? (same as it ever was)
The silence is deafening. Didn't it get off the ground? No launch details? Was it yet another load of bull?
Did anything positive ever happen here or did they just gradually remove your wealth and interest. Lost a fortune here.
Hope something positive came of this for all the guys here. Probably not knowing AIM.
OK thanks for that update.
I will get back to moping about the 20k now I've been reminded about it!
Cheers
Dore123 withdraws his comments on Kabwe 20 minutes later further down the JLP thread.