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I completely agree with you, I did bring the subject up several times with Colin to no avail, but the bigger the organisation becomes, the more essential to report regular. It will add so much value to the share price now. I can see in the earlier days it may have done damage to the share price, but Jubilee is past that period. Lots to report, lots going on. I think quarterly reporting would be expected on the ftse? May even be a requirement? Anyone know? Sounds like great news on the Cyprus front though.
Mikie, JLP is a different beast these days. With the support they have from II's who's interests it is to maintain the status quo, it will be a big ask to get Leon to change the reporting and communication culture. But worth another try.
HG, we need to be consolidated. It’s the only way. The AGM will be soon and those in support of 3 monthly will need to attend.
I have a slightly different view. I think that potentially LC and CB kept quiet during what I will call the "build" phase of the company as they didn't want to let the cat out of the bag on margins on the basis the cost of projects may have risen.
However, the cat is out of the bag now so would support the move to quarterly reporting!
Northern
Mikie/Dorfan
I whole heartedly agree with your suggestion of raising shareholder communication issue with the directors at the AGM. However this has been done at previous AGM's and has been brushed aside by both Colin and Leon, or false promises have been made. It will take a concerted effort to change their modus operandi.
JLP - perhaps we can get 3 monthly reporting added to the agenda.
I agree, MS
All the larger Companies in the commodities sector, have production reports at least every quarter. I dare not say mining house because we are not that.
It is just GOOD CORPORATE GOVERNANCE to firstly show investors how the Company is faring and for the market to make calculated decisions where they want to invest their money. It is not only PI's that need this information.
For your info, GrahamW, most commentators on this board have been here for a LONG time and have no intention of selling at this point. So to say that we need our arses wiped is ridiculous at best, insulting at worst.
CMRS has issued an incredible RNS about Troulli in Cyprus (Yes, it mentions JLP in it). What would the harm be for JLP to issue an RNS saying something on it at the same time?
Dorf, Frog and other supportive parties, perhaps a consolidated show of hands at the AGM May influence Leon to return to quarterly reports. When he realises the strength of feeling here, he may just act on it. We could not ask for better management and for this reason I feel they may well respond.
I quite agree Dorfan, I don't need my arse wiping but expect to be updated by the company, not have to trawl around looking for info. I am getting fed up with being kept in the dark to the point where I am contemplating reducing at the end of the year.
It is very simple Dorf, if there were two identical companies in every way, except one reported every 3 months and one every 6 months, it is obvious to me which one you would invest in. It is only the traders who like the vacuums of information so they can keep pulling the share price down by selling to reinvest. Unfortunately this influences the less informed investors into selling as well. It is a nasty practice, but unfortunately embedded in the aim! A very risky practice here now, as there has been great progress behind the scenes. Lots of info to come about Inyoni expansion and new numbers! New chrome plants and their effect! New Eastern limb feed and it’s effect! Copper production this term from the ROM agreement! Cobalt production? Roan up and running! Elephant on track for next Nov or ahead of schedule! Kabwe expansion? Tjate deal? Cyprus news? Expansion into Eastern Limb! Share price is way off its high, with lots of news to come, it’s going to explode soon, plenty of triggers waiting to be pulled and could come any time now! The wise and informed are now loading up ( Slater) they know what’s coming!
Graham W
Your post is as insulting to PI's as it is stupid.Do you for a moment think the II's don't speak to Leon on a weekly basis,and I expect Slater may even do so on a daily basis.There are many of us on this board that may not own as many shares as II but between us hold well in excess of a 100000 million shares.You do not think that we are entitled to be treated on the same basis as II?
I repeat what have often posted. Leon is a fantastic CEO and I respect Colin for his knowledge and Leon for his obvious fantastic tech ability but the company's communication skills are not befitting to this company that is growing at the rate it is.
So now I have given you extra paper to wipe your own backside .Just print and wipe.
JLPpositive - I only posted as its the first time I had seen it and can't recall it being posted here before. Given what had been said before I was under the impression the zinc circuit was ready to go.
The pivot to copper is well timed but it would also be good to see additional metals which can diversify risk. Daily swings are not a concern for me as I am holding long term as the earnings story plays out.
Northern
@Northern
“Jubilee is currently actively engaged in copper refining through its purpose-designed refinery at Kabwe. The zinc price has been extremely volatile and the zinc tailings at Kabwe may be metallurgically complex, giving way to copper production, being the best alternative to the refinery. Against the aforementioned, the Board has no expectation of any royalty income in the midterm”.
This information was in the 31 December 2020 Annual report of Kendricks, which was signed off by CB on 25 June 2021. I'm sure the only reason you mention it is because their AGM was this morning,
It has little bearing on current share price movement or mean that there is a change in direction of Jubilee. Being almost 1/3 shareholder in Kendricks, if it made monetary sense for Jubilee to bring zinc onstream, Jubilee would do it.
Since copper became the flavour of the world and JLP's huge strides in that direction, all available free time and resources in Zambia has been spent where the money is to be made. BMR shareholders were extremely ill treated (to use nice words), but that is of little concern to current JLP shareholders.
Jubilee has it's AGM around 6 December, they need to give shareholders 21 days notice so the information that we are all seeking will have to be released by 15 November. My guess the latest will be 11 November 2021.
It will eventually come, in the meantime we are completely at the mercy of the Board.
Northern S
Believe me I intend to discuss their failure to keep PI's informed at the AGM coming up.
This new development on Zinc also comes to our attention from another source, as is what is going on in Cypress.
Is it bad news? I don't think so but we deserve to be told about it.
Dorfan,
I can only assume they will cover a lot when the annual results are out (early November if it follows last years timeline).
Northern
The shareholders that they actually give a f..k about, ie the institutions don't need to have their hands held and are quite happy to wait for the regular updates . . its only nervous PIs that need their arses wiping on a regular basis.
I just wish the board would update the shareholders. I get that there might be confidentiality/commercial issues that need to be kept under their hats but we rarely hear anything. The share is well down today but I do draw a little comfort in he fact that it's on a minute volume. Continuing to hold and waiting for the updates.
Was there some bad news out today?
On my scanner copper and palladium are up..
I cannot believe the silence with so much to report.
Surely the must be aware that with no update shareholders take a lack of reporting as a negative.
Do the board want a lower share price?
Would be nice if it come from the source.
Guess Kabwe will be at full production with 10k tonne Roan and the third party ROM.
From Kendrick Resources annual report (Old BMR) and Colin is the main man over there.
“Jubilee is currently actively engaged in copper refining through its purpose-designed refinery at Kabwe. The zinc price has been extremely volatile and the zinc tailings at Kabwe may be metallurgically complex, giving way to copper production, being the best alternative to the refinery. Against the aforementioned, the Board has no expectation of any royalty income in the midterm”.
Doesn't sound although the zinc will be produced for a while which is a little disappointing.
Northern