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@seisnav, I was also over exposed, to put into perspective i have only reduced by about 2%
Regards
Frog
It's all about the final numbers for this year and then next year. Share price will reflect these.
Communications aren't the best but they aren't the worst either.
An RNS would be nice regarding Roan and some more meat on the bones regarding timescales for the elephants and how they will be brought into play and ramped up. Otherwise patience is the key.
Happy to sit and wait for now GLA whatever your investment strategy is here:)
I would never comment on others asset allocation strategies - each to their own. I think some of the last posts here are, imho, confusing frustration and concern. I am frustrated (a little) by the lack of news flow but I am not concerned as I believe we will still experience wholescale earnings growth in the medium term. Even if Roan were slightly delayed, it should arrive and the PGM's are good.
Over and above the usual intra-company bullishness, there is an added potential boost to PGM prices should Russia invade Ukraine and the impact of the resultant sanctions to Russia trade (and subsequently their supply of PGM's). As a s/h in FXPO and EUA this rise in PGM would be small comfort financially tbh and of course it goes without saying that more than the money issue, the resulting humanitarian impacts would be terrible. Still I am commentating on a what if not driving the actions or geopolitical agenda.
GLA
NtD
I'm still really positive just being sensible I was checking everything 100s of times a day the share price, copper and pgm prices. It wasnt healthy.
I got in at 11p so not massive but decent. If I for in at 3p I wouldn't be overly worried about the share price now either. I have found a few others plays to invest in worh the same kind of growth story so happy
Sorry shivers, I hadn’t see your post, it was in response to Frog. Fair enough at 80% it makes sense to de risk a bit, hope you made a decent profit on it! Personally I was happy to sit and wait when the share price was 3p and I’m delighted to do the same at 16p. My risk is a bit more spread but JLP is still my largest holding and I’m comfortable with that. Of course I’d like more news flow like everyone but I don’t agree that they don’t care about it. Leon does lots of interviews and presentations when there is something of substance to talk about and I’m sure we will see more over the coming months.
Gshiv, whilst I would also like a quarterly operations update I am happy to wait as the strategy continues to play out.
Copper coming on stream as many analysts think it will get to 10k/t in short order and we did our deals at 5.5k/t - margin improvement and return is outstanding. I would also think the increased cashflow will be bringing forward plans for Elephant 1 and 2 or expedite other deals which I believe management are working on now.
That coupled with the increasing basket price for PGM's, reducing the cost of production and getting more control over feed source keep me very happy with my investment.
The market may wake up to this growth play at some stage but I am happy to hold and see the strategy play out.
Northern
In my view the silence has been caused by a delay in the initial production of copper concentrate from Phase 1 of Roan project.
Leon has been on the front foot when everything is going in the right direction, i.e. production up, financials up.
Hopefully the delay is just a consequence of short term issues rather than a more structural problem , Im still holding and in theory everything points to an upward share price movement , perhaps Leon will maybe learned to tone down his enthusiasm and not predict things on too tight a programme and allow a little wriggle room.
Why are SLP and THS on the PE they are..? Because they are one trick ponies...
If that was me. It was 80% of my portfolio. Clearly over exposed and think i fell in love with it too much.
Still very positive and hold a decent sum for me.
The true value will never be realised if they dont change. I think I also underestimated the low PE ratios of other like SLP and THS. not sure that will ever change so this is a partial copper play for me.
Also bit annoyed that they havent responded to any of my emails. That with newsflow means lower holding.
It’s not that long ago you were still buying, any particular reason to sell now when we are so massively undervalued?
We need news. I am very positive on the JLP story bit their comms is awful.
Part of owning a share is sadly not all about fundementals. They have to think about sentiment.
They should want to do more regular updates etc but feel like they dont care. These are so important in the AIM. Newsflow is everything.
I remain confident but have reduced my exposure earlier than I originally wanted to. To be honest i was over exposed.
WE NEED REGULAR NEWS.
I don't believe that the board are remotely concerned with us PIs. They just need to keep the instis happy. I continue to hold but reduced my position recently.
Regards
Frog
dorfan. I have sent you a PM.
I have pressed them hard on the flawed Jubilee reporting procedure at the previous two AGM's, and been told that they would not budge from the commitment to 6 month reporting, and they would issue quarterly reports only when it suited. Great company. Shame about their reporting.
Ofcourse quarterly reporting is far more favourable to 6 monthly reporting and I think it would be a great idea to bring this up at the AGM. However I am not getting upset this time just due to the sheer size of the steak on the plate over the last few weeks/ months. New copper plant, new chrome plant and expansion at Inyoni! That is an incredible pace of change and upgrade to the Jubes model, which all shareholders will benefit from. I am guessing there is a lot of negotiating going on in the background as well! The fundamentals here have not changed just get better and better with metal prices! I always thiught the share price here would be 20p plus at the half year stage, based on financial production with the fireworks coming later in the year- again based on financial production. Jubes is transforming from rags to riches quick smart, we need to give them some space to get all the upgrades and additions over the line! Must be manic there! If your feeling nervous just look at the fundamentals. Look at the growth over the last two years! Look at Leon’s recent interviews and look at the planned growth currently being implemented.
Highly Geared when I went through WH Ireland brokers note, and noted their figures for the present half year,I became alarmed enough to send an email to Leon and a phone call to the South African office.I have to date received no reply which makes me question Leon's thanks to the PI's who kept Jubilee going when the company had no institutional help.
I believe their reporting is flawed and that fact needs to be brought up at the AGM.
All I can say about JLP's reporting is compare it to SLP's. SLP are in the same business. They report full financials every 3 months in an open and trustworthy manner. No bull**** at all.
Jubilee's poor reporting is one of the reasons that I am wary of this stock. (Colin Bird as Chairman is another, Zambia country risk is a third).
papaduke. Very eloquently put. Why not send that precise post to Jubilee? It is only by communicating constructive criticism with the company that they can gain an understanding of how to improve. And they do need to improve in that department.
100% agree, not least of which if they proport to want to be a sizable mid cap co now and going forward. 6 monthly's updates are no use. I deal with Co's with tiny £10m T/O who provide Monthly MI and 1/4ly reports etc etc + forecasts which creates trust, stability and clear line of site for further investment etc.
Not difficult. Any CA worth their salt can put 1/4 updates together. If you don't do it, it just creates wholly pointless volatility, uncertainty and ideal gossip etc. Frankly not very transparant for PI's. Fine for II's who have the inside track before PI's do.
Hi Sumo,
If the status quo floats your boat, then no worries.
The point is that they are not committed to quarterly reporting. They do so selectively. Jubilee is only committed to 6 monthly reporting which is simply not good enough for a publicly listed company of of this size imo.
Thank you SeisNav
HighlyGeared, not sure why quarterly reporting isn’t enough for most II’s. If someone is going to sell out in under three months because of lack of news then I wouldn’t consider them a LTI, more a trader? If you understand the story it’s easy enough to wait for it to unfold!
dorfan.
I agree that news flow from Jubilee is not consistent enough. The II's get their monthly management reports which keeps them happy, however PI's get an occasional video which is nothing more than a tease. There has not been any real news since the production report in January, so even long term holders get twitchy and move on. This is a great company with highly skilled staff and fantastic prospects, however their reporting lets them down. For starters they need to produce quarterly reports on a consistent basis. I have made Leon aware of this on a few occasions. Maybe if a load of investors were to make the management aware of this simple fix then, they might change their view. The last excuse I was given for not providing quarterly reports was the 3 month lag in the income being received from the processors. That still sounds a weak excuse imo, as most other companies of this size can do it. Jubilee really needs to man up on it's reporting culture.
Traders use fractals on charts to show possible reversals. I assume that’s what he’s obliquely referring to. Maybe he means there’s a possible buying opportunity coming up!
samo,
What do you mean?
check the fractals on this..... 12 -> 26.
DYOR.