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Yes. Someone is soaking them up. TR1 re the initial taker of the placing on Thursday I assume. Whoever didn't get in will be happy to mop up at 4p so that should put t a floor on it. The TR1 could be interesting. P/e ratio of 8.6 which sounds nice and we haven't even started. Feeling positive today and got a feeling in my bones that we'll be hearing something nice soon.
Good day all
Also worth pointing out that today’s has seen some strong selling but the share price has not reacted as badly as at the end of last week.
To "top slice", however one interprets that action is just selling part of one's holdings. It is risky because of the share price volatility. Who knows what the top is? JLP is very active with acquisitions and another RNS could happen any day, even whilst Kalan is counting his profits.
Of course the adage that a profit can never be a mistake sounds reasonable but to then also expect to re-purchase at around 3.7- 3.8p is most likely wishful thinking. A placing or no placing, the fundamentals will determine the progression of the share price. As the p/e is going to improve a lot, what motivation is there to sell? Only a general sell-off on the LSE will see the price drop that much. All my opinion of course. (and I have been known to be wrong- at times).
JLP Pos- I have watched Kalan doing the top slice successfully for some years and have always intended to start doing the same. I never have due partly to not being organised and laziness and a bit a fear of getting it wrong. The predictability of Jubilee placings and the inevitable market reaction have been a winner for Kalan so good luck to him
Kalan - As our resident chartist you sold 50% of your holding in order to re-enter at 3.7p. You expected a significant drop in the share price which would ordinarily occur in PLC when no news comes out. The drop occurred suddenly as opposed to the gradual decline due to the announcement of the issue of shares, which will be highly beneficial for the Company going forward. You should be congratulating yourself, having the intuition to have sold higher and be able now to buy effectively at a discount too. As for me still holding 100%, I have taken the safe path for FOMO (fear of missing out).
GLTA and DYOR
Well said Isphahan all that matters is the P/E going forward and the additional funds raised will go towards greatly speeding up and increasing income/profit
Some holders have been here years no point in moaning now the rewards are almost in reach.
ok - no more whingeing from me. I am ok - I made a profit again- I will make a profit again here in the future. I was just thinking about the poor person who watched and waited for the results to be sure the profits were there and then bought full of hope at 4.6p or 4.7p. They did the right thing and then they had the rug pulled from under them and need double digit sp growth just to break even - to cap it all the sp is now in a falling trend. Why have they suffered this - pure greed by the board - cash was offered and they took it - for no reason other than it was offered. Shameful.
Of course I then get accused of playing this for my own purposes - the sp is going where it's going and nothing you or I say will change that - the board set it in motion and it will now play out.
Over and out - Merry Christmas to the many fine folks who follow this share.
Kalan, you are overreacting. As you said you have been a holder, like myself for a long time. This share placing is irrelevant and the answer lies in the increase in earnings per share that this capital raising brings forth. The deal was done at 4p and it seems you expect to be able to pick some up below that. That puts you in a better position than the funders, so why whinge? Presently there are magnificent opportunities in acquiring mine tailings, many with good residual elements, especially in Zambia. We need that cash do do deals. When I saw the sudden drop in share price I liquidated some other holdings an added a few 100k more. It is a mistake to judge the share on past performance. All that matters is the P/E going forward. BB's achievable projections further below show the exciting trajectory we are on. Cheer up!
Nothing will hold this shareprice back over the coming months
Several years have been spent growing the foundations for the strong growth we are all about to witness.
Has to be one of the best companies for growth currently on aim, all the evidence points to this having a m/cap in the region of 300-400 million over the next 12-18months
Something Colin repeatedly alluded to approx' 3years ago.
It's taken some time but certainly looks like it all makes sense now.
Jax, lots of sellers in the past because the dreams never turned up. The placings were mostly to keep the lights on! Not true any more and the profit is coming at a pace!
I agree Kalan. I too have been here for over 10 years and feel exactly the same. Been burned too many times and always top slice when theres a strong rise (as it appears many do likewise) as it invariably falls back down whenever the placing appears.
Thats why theres always sellers around and the thing is continually undervalued.
Jax
Kalan, I thought you were basically a long term investor, but you seem to be going way over the top about what should be a short term dip in the share price. After the recent incredible run the share price was due a breather anyway.
Congratulations on your short term share price calls recently. Dipping in and out of the market can be a dangerous game though, but I am sure you are very aware of that. But for someone who normally submits balanced views you seem to be letting your emotions get the better of you.
My time horizon is to look about 18 months ahead, and as far as I can see if there are no operational or political calamities or a very large fall in the PGM basket prices, most things look rosy. The recent deals should produce a significant cash flow surge starting particularly in about 4 to 5 months time. Currently the chrome operations are delivering next to no earnings, so Jubilee needs the PGM operations to really deliver. Although the PGM operations are going well and both will be ramped up quickly I expect, the cash flow will not be immediate as we don’t get paid for the PGMs until about 4.5 months after they are produced. Currently the existing DCM and Windsor chrome operations are delivering next to nothing in earnings due to the very low chrome price. So for incoming cash flow Jubilee will be relying over the next few months on their PGM operations, plus the coarse chrome earnings now about to start at Inyoni which will deliver quick cash flow. But because of the cash flow delay from PGM operations, and the extra working capital needed to ramp the PGM operations up further, Jubilee was potentially facing a cash flow squeeze in the first quarter of 2020, unless it slowed down some of its developments. The placing which I welcomed and as far as I was concerned was not done at a bad price either, has provided the contingency needed ( to cover rolling blackouts for example) to keep all of the projects developing as fast as possible, and deliver the “trains to the station at the same time.”
The company will be very well positioned on both of PGM and chrome operations in the second quarter next year, especially if the PGM basket price can be maintained and the chrome price improvement occurs as the company is expecting. And yes in this scenario we could see a massive surge in earnings at that time.
Kalan
Come on man, suck it up and stop whingeing!! Crikey, if it drops to 3.8 then you will be able to get in at a lower price, but then that is possibly why you are making such a noise about it! Talking your book.
In a year this SP will be way above where we are now and the placing will be irrelevant, and if the raise means that we take on less debt (which we would have to service the interest payments on), but allows us to rapidly progress the deployment of the fine chrome circuits into Inyoni etc., then it is all to the good for the company and the shareholders in the longer term.
dkok
I accept your apology - I am not a trader but I have been here for 10 years and I have seen how this share behaves over a long period - that's why I top sliced and that's why I sold the rest when it put in a lower high just afterwards - the charts said it was going to fall whilst the fundamentals say it is going to rise - I have learnt the hard way to trust the charts - they tell you what people are doing rather than what they are saying.
I will get the same price as ii's - it's not naieve - I have seen it happen again and again and again.
I am not a genius at this game but I have learnt from my mistakes - currently down 3 or 4% on my recent SAVP investments - got in a tad too soon. Over the next 3 months they are abetter bet than JLP IMO - I may be wrong - good luck here - I may miss out - I may get a bargain - time will tell - at least we are all being civil to each other about our choices and opinions. Now where are those candles.
Hi Kalan
Thank you for your response and apologise to you if you think I'm being rude which is not my intention. Blunt Yes rude No
I appreciate what you have said but I just can't fathom out why anyone other than a trader would wait for a share to go down just a little bit from 4.62 to 4.00 to sell and buy in again as you don't know that this is what will happen. Take today for instance, why are people buying many more than selling, how do you know that you haven't missed the boat.
If you think JM is a good share and most are saying that with the Profit forecasts it COULD be one of the best at the moment just stay in knowing that things go up and down but the medium to long term is fantastic. Again apologise if you think I am being rude
Been here just over 10 years - agree 100% with everything Jonah has said - if investors are ok with the sp dropping from 4.7p to 3.7p so that an institution can gain cheap shares at their expense - then ok. I apologise for making myself sound 'petty and stupid'. I just think a 13% fall which both Jonah and I think is going to turn into a 20% fall is a bit much to take on the whim of accepting some cash from an institution when it's not needed. p.s. If the sp falls to 3.7p (3.8p to buy as Jonah believes) you would need over 25% rise to get back to where you were. I know - I am being 'petty' - I will accept that criticism.
However, I did sell all my holding at prices from 4.4p up to 4.7p so when I do buy back (around 3.8p to 4p hopefully) I will have cashed in my profits and re-invested to make those same profits again along with the rise above 4.7p. So I refute the 'stupid'. But you are entitled to your opinion.
My opinion is that you have been mugged - there is nothing you can do about it - it's not your fault - and you are putting a brave face on it - that's ok we would all do the same but there's no need to be rude to anyone else.
Going to have some lunch and get a birthday party ready for the grandkids and friends - they sold JLP at 4.62p and put it into SAVP the little rogues - good luck to them an good luck to you Edzi.
Jonah
You are correct, I said in a post over the weekend, if they had done the placing when they announced the purchase of the chrome the shares would have risen and then they would bring the figures out 2 days later. They have been badly advised
and that is stupid on their behalf. I will be bringing this up when I meet Leon. But to go on and on about a PI wanting the same price as an II is naive.. Good luck and here's to 10p come April
Edzi, you are, of course, right. In the long term this is a blip. But the point I am making is not the detail, but the message the company is sending to the retail investors which is a tad difficult to stomach. Anyway, rant over and back to the allotment to prune my blackcurrants!
Kalan
Everyone is entitled to their opinion however you are making such a big noise about nothing. The placement was done
and sent out quickly because of a leak. The monies are going towards building fine chrome units.
Institutional Investors are worth a lot more than PI's. Deal with it and understand that all of us are along for the ride and we are not important. You really are making yourself sound petty and stupid all for the sake of half a Pence.
This share will sail through 6p soon when people realise the monies that are being made and I suppose when the next placing happens to buy more Tailings you will want Leon and Colin to call you to see if you are OK with it.
I think so too Snaffleman - it will take at least 3 months to forgive and for some to forget.
I can imagine the conversation within the board of directors. - An institution just offered to buy £6 million worth for 4p. The shareholeders won't like that. yeah I know but cash is king , think about our salaries, that would cover a few months quite nicely. Yeah but how do we sell it to the shareholders? Oh djust doan interview and keep taking about cash all the time and strong balance sheets and needing strong balance sheets going forward to even bigger deals. Will they swallow that, really. Yeah as long as you are positive and upbeat. What if I'm asked why we need the cash when we are supposed to be throwing off cash from just about every one of the projects right now? just ignore it and say stuff like yes we are generating lots of cash. If pushed just talk about roll out of fine chrome and even bigger cash generation to come.
We could just say no - go and buy shares in the market to the benefit of our shareholders! Mmm it's an idea - but no let's just take the cash as usually - get while you can I say - the punters will get over it.
Think I will get my blood pressure checked.
All the momentum lost that I was hoping we would get from the Winsor PGMs. Such a shame I don't see much happening now until the new year.
May see a little leap back up to 4.2p some time soon - staying out for now - 4p may be support (the placing price) - waiting to see - history shows it doesn't turn around very quickly with JLP - great company - great potential - but board of directors (like all AIM companies).