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Hi SeisNav, many thanks for your invaluable input in here. I agree that those selling now may well regret it, I am not. But I will be looking to significantly reduce if I don't start ti see the sp gain by the next update in 3 months. If it happens. It bothers me that investors emails go unanswered. Its a much bigger company now from the days when Colin Bird phoned me personally to apologise for the Christmas Eve AGM! The announcements from the company need to be crystal clear and Ollie needs to show what he is made of. And the company need to reply to emails from investors even if just a routine response. It's polite.
All the best
Frog
Clearly a lot of frustration around at present. As much as we hope it will change, Jubilee is still a backwards looking company. By this I mean the market only react to hard and fast results, with no forward anticipation or pricing in. This is probably due to bad management of communications and trust, but I’m sure this will change soon. In my view, now is the best time in a long while to invest, as the results manifest the share price will re rate accordingly. Whilst the company have zero communication skills, they do have excellent prospects and a leader that is hell bent on creating a monster and I believe very strongly we are going to see massive new developments in Zambia and the Congo as hinted by WHI and Leon in the past. It would be very churlish to sell now, but given what we know has been done in the last 18 months this has to be one hell of a buying opportunity. Results will soon do the talking. Let’s hope quarterly reporting is delivered as promised by Leon.
Frog I agree that communication could and should be better, that’s something to address directly with the company at the next AGM. I have sent several email inquiries to the company and never once even received an acknowledgment…. That is not acceptable.
As for company performance I’m perfectly happy with the progress made and expect another re-rate in due course. If you can’t afford to wait (or don’t have the patience) then that’s entirely your own prerogative. I can understand the frustration in the sort term but I think people selling at this stage will be kicking themselves in a year or two… just my opinion.
The Northern Strategy is planned for 7,500t pa by CY23 Q2 with the rest by end of Dec23.
I'm not sure what people are grumbling about. Read the WHI note referred to by Seis. Our operational footprint is now about twice what it was two years ago. We are told the Northern strategy is on track. We have some of the lowest unit costs in the business - and all at a time of global pandemic, China lockdown, semiconductor short supply, shipping crisis, recessionary fears, inflation, fuel shortage and war in Europe.
I do agree with Dorf that it would be nice if Dollie put his head above the parapet and, given the huge transport costs, some indication of progress (or otherwise) on the Eastern limb.
Nevertheless, a huge amount has been achieved recently. The drop in Sp has been on relatively little volume. Retail investors like us are starting to feel the pinch (I certainly am) and may be looking towards safer dividend paying investments rather than the wild west of AIM. A lot of people do not see now as the right time for high risk investing.
I could have said all these things when the Sp was around 3p for ages. Glad I topped up and held then. It payed off. I will be doing the same now.
Gotreal, my point was that the SP has not moved and currently sits where it was some 18 months ago. I fully understand the progress made but somehow this is not getting through in the market. Also disappointed in the new Chairman, most want to make their mark quickly to show why they were brought on board. Difficult to see the evidence here?
Seisnav, it's all about returns for me. It is not JLP fault about basket price but the constant smoke and mirrors reporting does not help. Every RNS creates a huge discussion as investors try to join the dots. That should have changed under new Chairman. Communication does seem to have improved marginally but still well short of ideal.
Frog
Gotreal, nothing to do with Ollie surely? That was already in the workings.
Goreal, please enlighten us about the global Strategy or even the Northern Strategy? I'm waiting??
"Appears to be all talk, no progress?" How can you possibly say that with what has recently been announced and confirmed?
It hasn't held up well at all. According to our brokers it should be 20p plus!
Considering our year on year earnings have dropped by 37% due to the Inyoni expansion and slide in metals prices… I don’t think the share price performance has been abysmal at all. In fact I think it has held up remarkably well. It’s done exactly as it’s peers have done… driven primarily by the reduction in the PGM basket.
Hi Jack, I decided to give it until the hinted at 3 month update but there is little point in being invested in something that does not increase wealth, regardless of the promises. That said the basket and Cu price has taken a hit and we need China to recover.
Regards
Agreed, the last 20 months share price performance has been abysmal despite huge upgrades and new plants been built and now 90% fully operational. Very bizarre.
Yes, the likes of SLP are also in the same boat but we have transformed where they haven't. The other problem is we in a midst of an economic slowdown... so we could go lower before the next 6 months results are out in February 2023 unless Leon miraculously gives us a proper update detailing the Northern/ global strategy and lifts the much needed positive sentiment.
Dorfan,
Completely agree. Now very disappointing! Appears to be all talk, no progress?
Fboy
I agree why was a new chairman given bonus shares to stay silent on the new expansion plans.
The share price is only reacting to non disclosures of activities that the company appears reluctant to announce.
I am really trying to stay patient,as I believe in the company, but it is easy to understand shareholders frustrations
Nothing seems to move it. Ambiguity and uncertainty don't help. And what the bleedin' 'ell is the new Chsirmsn doing?
Personally think we need some news. Can’t believe how dead in the water this is when so much is promised!
https://stockhead.com.au/resources/well-need-a-monster-cobalt-mine-every-two-years-from-2025-26-or-well-um-run-out/
Nice to see the cobalt price perking up today after a steady decline. This is quite an interesting article on future requirements and why we don’t want the price to go sky high.
They also mention Metalkol, who operate a cobalt tailings reprocessing operation in DRC, producing 20,000 tonnes per year, making them one of the largest producers in the world. A nice target for Jubilee to aim at!