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They're not looking for 10% - they're eyeing metals prices over the next 12-36 months as I am ...
Of the first 350 trades today, the net difference in value between their sum and the mid price based upon the stated bid ask at the time is just -£31K. For this the MMs have dropped the share price by 4%. Don't you just love 'em.
I can assure you based on last decade here jlp have had plenty of issues
Oooooh....that hurts..... hehehehe.
Always the same with traders looking for their 10% trade and talking down a share. Why spend all day posting on a share if they have no faith in it. So obvious what their game is.
All companies involved in mining operations/processing undergo problems. At least we can have more faith in JLP to solve these issues than some other companies in the resources space and from the RNS it was clear that many of the issues have been addressed with improvements made to allow future operations to expand which is a positive from these issues they have experienced.
It's also about what the company might look like in 2-5 years time and these prices are unlikely to be available in future.
Charles I don't see any indication in the RNS that Inyoni is shutdown. The problems seem to mainly have been at Windsor 8 which didn't have backup power. That has now been rectified. The increased chrome production allowed them to create a stockpile to ensure regular supply to Inyoni in the event of problems with chrome supply.
Gotreal
The drop had nothing to do with the rampant offloading of significant lumps shares this am then?
You're now filtered.
Tg5
BV ... The MMs play on human psycholgy. After what was perceived as terrible news yesterday they have taken the opportunity to capitalise on it. Dropping the SP this moirning hurries the herd along. When they think they have reached exhaustion, they will raise it. They care not for which direction the price moves; they take their skim either way. All they want is to generate volume. They certainly don't give a fig for the effect it has on PIs finances.
In that case all I can suggest, Charles, is that you join all the other punters who have sold so you don't suffer further.
The company will answer relevant questions tomorrow…today’s SP drop I didn't expect but I firmly see value being restored as things get back on track. The shares will recover lost ground and tomorrows presentation will no doubt curb fears of meltdown!
We are where we are. Well, that's one way to put it I suppose. You could have said the same if the operating targets were significantly beaten.
I'm not venting, just stating facts. I don't believe in keeping quiet when I've personally been quite upbeat about the company over recent months.
I find that quite hypocritical.
Tg5
I have lost all trust in LC as the CEO of JLP. Until the most recent delayed RNS, LC over about the last two years has been telling S/Hs that they have done the hard yards; with investments in South Africa to recover PGM and Chrome, plus investments in Zambia to recover Cu and Co. However LC failed to ensure these investments had adequate power and water supplies for optimal operation. From the latest RNS I understand that Inyoni is on standby until sufficient PGM enriched tails are stock piled at plant for operation. Then once an adequate power supply is assured, the plant is turned on and runs until stock pile processed, thereafter the plant reverts to standby. What a mess and hidden from investors for as long as possible.
The problems of power supplies in South Africa have been on the down hill for 5 years or more, initially sacrificed by Zuma's corrupt regime. But there is plenty of sunshine in Southern Africa, thus solar panel farms adjacent to plants will solve power supplies, and the problems of battery power storage from variable power supplies have long been over come. LC lives in Southern Africa and he should know, that the game farms of the area have made use of solar panels to maintain electrified game fences since at least 1980 or before.
Zambia currently is locked in a drought cycle most probably linked to global warming. Kariba which is the major power supply for Zambia is about 5 % full. And when it rains the first claim for water in Zambia is for agricultural food production. But this problem is not recent. Roan which has yet to operate to design capacity, appears to have suffered, according to last RNS , plant damage due to issues with power and water supplies. Now Roan capacity is to be doubled ?
Sable is now to produce Cobalt as this will generate the greatest immediate financial return. Also according to the some what garbled RNS Sable is now part of the Northern Strategy. The company is unable to even produce a concise RNS.
An associated operative to the company recently lost his/her life in a safety accident. LC appears to think the solution to health and safety short comings is to sweep the matter under the carpet. Such issues need instant public publication.
As for our New very Expensive Chairman, his only action on behalf of the company that I have registered was a trip to London, for the annual general meeting. Of course this free trip enabled him to undertake some early Christmas shopping in London.
Now when ever LC talks about further expansion, when he can not operate JLP's current investments optimally, just shatters myself.
We are where we are, your venting does and means NOTHING.
You've been very quiet these last few days Gotreal
What your are thoughts on the Ops Update? Are you running around banging your head into the toilet or relatively upbeat? I would suspect the former if, of course, you have done the slightest bit of research.
Maybe go back a few updates and see what Leon was saying, and then review the reality
Tg5
And neither does your narcissistic outpouring.
The reaction to yesterdays RNS has been fuelled by traders banging on about lack of trust. The actual issue is very straightforward as expressed by Simon Thompson:
“ Lower production guidance in PGM and copper operations due to power supply issues”
The power supply issues were totally outside JLP’s control and were not forseeable. When the power issues arose it was not known how severe they would be or how long they would last. JLP have taken steps to address this going forward.
This short delay in achieving production targets was completely outside their control and will soon be recovered. It does not affect the longer term excellent prospects that long term investors are here for including the Institutional Investors like Slater who own nearly 10%.
The shares are currently at a bargain price which won’t be available for long. The recent volume will sort out any remaining sellers following the warrant conversion who will have sold to protect their diminished profit.
Leon has already done some interviews yesterday and I believe investors will be reassured by tomorrow’s investor presentation.
Gotreal
Keep your eyes shut and sing lalalalalala. It doesn't change anything.
Tg5
TG.. Shut it.
This is toast..JLP are in trouble if they don't double pgm and triple copper production.
I've copied and pasted the Operations update into worked and searched for keywords.
I'm now even more confused. In one sentence;
they're thinking about doing something,
in another, it's the plan
and in another, it's underway
and in another, it'll be done in a month.
Leon, GO!
Thanks Leon, Trust is now a problem with you. Please fix it up now. Bring back quarterly reporting.
Jubilee is a great company with massive opportunities......fix it.
Should recover here short term.
I can`t believe how poorly this has been handled and I assume Slaters won`t be thrilled with this drop.
Sub 5p I hope not but market pressure on lc and ollie
And MIkie et al
Do you think these lot can pull off a long-term strategy whilst managing shareholders' expectations? They're all over the place! They're rather oblivious and running around with their eyes shut, or they've blatantly withheld critical information from shareholders.
None of the above options is good.
Tg5