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I am a simple soul and still believe in value and cash. Cash is king. No one has ever gone bust with surplus cash in the bank. So why place? Simple. JLP is in a good place at the moment and the extra shares can and will be absorbed by willing shareholders. The share is currently robust enough to take it, the sp will not go sub 3p as a result.
I don't know who put listen to the voice on my header but it certainly wasn't me.
The last post was my opinion it doesn't mean I'm right
So please don't think I'm preaching as I'm not in a position to
Hello JLP Positive
I'm not sure what you are pointing out. I know for a fact that over 50% of the shares are held by Institutions
some larger holdings than a lot of people think. For a PI holding 1 million shares is probably not a lot anyway
and as far as your comment on people selling or buying that is what makes a market.
As far a not allowing to let JM issue shares, that is a nonsense. If they issued £10 million worth of shares
to buy £75 million of profits you would have no complaints from me or anyone else.
If they raised £2 million to keep the lights on then that's another problem but they now have momentum
and profits and growth and institutions behind them and money in the bank and a good CEO.
The only thing they have done wrong as far as I am concerned is they should of mentioned the placing when the agreed the Chrome deal and then got the figures out a day or so later then we would be above 5p
The way they have done it looks like shafting people after good news, but you must understand that they only care about
Institutions not us bottom feeders. This is the same with any PLC
Good Luck
Edzi
If you look at the financials on the last page (93) there is an analysis of shareholders.
74 shareholders holding 1 million shares or more in total 1 811 782 247 shares excluding the ones just issued. That's 97,66 % of the shares being held by people like us.
There is an upside and downside to this - if al the shareholders hold. Price is likely to move up. Downside - Even if 1 of us decides to sell that's over a million shares onto the market.
Bottom line is the only way they will stop issuing shares is if we take away that authority at the AGM
Kalan and every other PI
Firstly, if you read the top of the latest RNS, ther was a leak about the fund raising so they got it out quickly.
That does not mean in any way that I approve of the way that they have done it.If they had told the market that they had purchased the chrome right for £16million and they are doing a placing for £6m then everyone would understand and be happy and the SP would be much stronger with the figures out. They have been given terrible advice, however we are al
Private Investors and you of all people should understand that we are catfish, bottom feedes and institutions will always come first second and third and what you are saying at the moment is due to being angry and not sensible.
I am very vey annoyed but I am also trying to look at it rationally.if they had paid out of existing funds and something came up they would have to do an urgent cash call. I a so bloody annoyed about the way they have packaged this but you thinking that they give a damn about PI's is so wishful it is laughable. I ran a PLC and I only cared about institutions as they stayed long term until the **** hit the fan which is correct, look at every PLC they only want long term holders that are instiutions not us and I am holding well over 5 million shares. I would be the first to gripe
Contradictory reports.
The share placement was oversubscribed i.e. they offered up shares to raise cash and more people wanted to buy than there were shares available.
Now we here from Schard apparently that they were approached by two punters wanting to buy shares and said yes to one of them.
Just imagine that they put the shareholders first - they could have said - thank you for your offer but we have excellent cash generation, access to $40 million in loans and would not treat our existing shareholders in this way. We suggest you purchase the shares in the market at the market price which would be of benefit for our loyal and long suffering shareholders as it would drive up the price.
I think I will give them a ring and say I want £50,000 worth of shares at 3.5p please. The board meet and agree it - what is the difference? The difference is they will do it for institutions but not private investors. Still very angry - unless they let me have the shares at 3.5p then I can smile and the rest of you - the ones who held onto their shares can be angry. I hate injustice. Shall we club together and get £6 million and phone them to say we want the same deal 8% discount to the current share price? I'm in - who else.
The voice of Truth and Justice says,
"Timing of the placing announcement has shown minimum respect and maximum contempt for private investors by Jubilee Metals senior management.
However, to spit one's dummy out and sell up at this juncture would demonstrate a substantial lack of intelligence by anyone who would do so."