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There hasn't been an update in chrome concentrate price for a while due to the Chinese holidays recently but on Saturday they reported US$300-308 / tonne, which is unchanged from the previous update. They are also reporting future cargoes increasing prices by US$5 / tonne so it looks like demand remains strong at the moment.
Chrome concentrate price is up this week, reported at US$308-311 / tonne, up from US$300-308 / tonne last week.
Chrome concentrate price is up again this week, reported at US$310-315 / tonne.
Seis, are you thinking the whole increase will go on the margin? I am guessing it will as we are buying the material.
Mikie, I would guess the price they pay for the RoM is linked in some way to the chrome price but we haven’t been given any detail on that so hard to say really. Any increase is obviously a positive though and the current price is as high as it’s been in recent years.
What matters is the margin.
Yep, either way Seis, ver healthy for the margin.
Chrome concentrate price is up again this week, reported at US$315-318 / tonne. That's the highest it's been in quite a few years.
Platinum doing okay as well
Chrome concentrate price is unchanged this week, reported at US$315-318 / tonne.
This quote from the website I use for prices:
"This week, the prices of chrome ore continued to rise. The recent trend of increasing is unstoppable, and the shortage of available goods in some ports is prominent."
I'm not sure if it's increasing demand or restricted supply that's driving the prices higher but long may it continue!
I did some research on this not too long ago. Forecasts near term are good as supply is constrained. Topp8ng out around 380 from recollection.
12 months on it settles down to these levels as supply starts to catch up with demand. I should really check these figures and tim8ngs, but they are close enough
Chrome is 70% of company revenue, copper is 8% and has been for two years.
The frustration of LTHs is understandable but the charts are saying JLP is poised to move. There have been lots of times to sell JLP shares and it would have been a very sound idea.
Selling right now is difficult to support given chrome price strength, production strength and Thutse expansion underway. Also the possibility of copper production news at any time and copper coming off it's very recent lows to sit above $10,000 once again (fluctuating admittedly after a sharp fall).
Considering whether to add today, Buttermilks sell makes me more likely to buy," be greedy when others are fearful" (Templeton). Indicators showing sentiment is at or very near a low ebb for recent weeks, also a sign to buy.
Meanwhile if you want a bit of a laugh, on the day where Labour are accusing Rishi Sunak of being a liar, have a watch of this video by googling 'The dizzying dishonesty of Keir Starmer'. Makes Boris look like a Saint, well maybe that's a stretch.
Weekly chrome concentrate update... up this week, reported at US$320/ tonne. A new high in recent years.
Seis
What is your opinion of the lack of a progress report. I am on the same page as Edzi and think there must be something going on in the background
Dorfan, it's all guesswork really. I think timelines have slipped, either through further delays getting these electrical parts out of the port or delays in ramp-up or both. I can't see any reason why Leon would want to keep quiet if Roan was already in full production, it's what every investor is waiting to hear about.
Hi Seis/ Dorfan
Seis, you are right, every one is waiting to hear about Roan. If Roan was delayed and assuming they have learnt from previous non comms being the death etc then they have a duty to report as it is material to figures. There is also the case that now Neal is on board he knows the score about the rules and regulations that being an FD of a public Company they can hold him to account. So the question is why is there a blackout of news. One theory I have is that IRH are trying to buy everything regarding Copper in Zambia and although they may have expertise they need JLP to maximise everything that they are involved in. That is not rocket science to work out. If they but a portion of JLP it also stops others from bidding, as they would outbid any offer. There is also a case that we have seen many times in that the board of directors have messed up so the only solution is a Sale. I am not suggesting this but if there is delay after delay after delay, it always comes down to the CEO. There is no reason for a blackout if everything was fine. They could report that even if the electrical component was late it is now here being linked into the system. Problem solved.
Why did they ask RBC to get involved?
I am not suggesting I am correct but everything else to me does not add up because if they announce next week everything is up and running or just starting then it is yet again a comms screw up because the figures will not be met which is material and against the rules. Comments please on a postcard to the BBC Blue Peter team
Seis/Dorfan
Sorry to go on but I would like some comments please. If and it is a very big IF IRH buy JLP together with Chambesi and they are trying to buy a area that the Chinese were trying to buy so someone said on this board together with trying to buy a percentage of Vendata so someone said on this board, and they sold forward Copper so it was said on this board,
assuming that all this came together plus other aquisitions in Zambia, I would assume they would be (once fully up and running) probably the second biggest player of copper globally. When the Arabs do something they don't screw around
More Comments please
Edzi, I use to think like this BUT after 12 year of been invested in Jubilee I've come to learn when they quiet they have nothing good to report.
So I can almost guarantee you the next RNS will be that copper targets have been lowered due to "logistics " and that although commissioning is going well they still refining the process to maximize output.
That's my two cents worth.
I obviously hope I'm wrong as I have a lot invested here.
Happy
I'm sure you are going to be closer to the truth than me, however linking it all together makes sense
The fact that they haven't issued a RNS says that all is on track and the speculation is just wild conjecture. That said the website appears to be unreachable at present so I suspect there are updates being made that may answer some questions.
Just been on the website.
You're right, they seem to be blocking VPNs for some reason.....
In another company I would agree Gotreal but hasnt been the case here always in the past and hence nervousness. I think JLP has in the past RNS'd these type of events but I could be wrong. Also if we have had Roan commissioning since end May, given this is affecting SP i think its way beyond a churlish childish CEO strop and in fact portrays our management in a very poor light in terms of their shareholder relations.
Delays and revised timelines are easy to take on board, radio silence isnt.
Let’s be positive -the ANC ,DA and a few other small parties have a coalition agreement which should help business in SA .The EFF and the MK are not involved so the SA operations will hopefully will not be compromised .The chrome price continues to increase
The company must however learn to communicate with shareholders and respond to e-mails
Thanks for that moneyman - South African arm looks a lot better after that. Good positive thinking to go into the weekend.