The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
When Leon stated he wanted to adopt a low risk strategy it never occured to me he meant low risk of making a decent profit
Hi Moneyhawk!
I agree 100%. If Jubilee were ever going to get involved with mining, they would have gone for Star Zinc and Kashi'tu. Star Zinc is a really good asset with a short and simple pathway to production via processing at Sable. If Leon passed on that, that means he really does have no interest in getting involved in digging stuff out of the ground.
I'd be gobsmacked if Jubilee are interested in a wild goose chase after copper in the high Andes.
TBTT - quite right, we've already got one of CBs white elephants in our portfolio with Tjate, we don't need to add a second.
And has anyone else noticed the target projects map on the JLP website has changed?
Previously we had lines pointing to project targets in Brazil, Argentina x 2 (or possibly 1 in Paraguay), Australia and Tasmania
The new map shows USA, Brazil, Argentina x1, Australia and Indonesia
So new project targets identified in USA and Indonesia, and targets ruled out in Argentina/Paraguay and Tasmania.
I think JLP should steer well clear of mining Tiger - there's plenty of profit in the waste without taking risks.
Enjoying watching Colin's performance with GLR - he is working his magic - spinning the story like a good un.
Just released an RNS that repeats what he announced in a previous RNS - the JORC is still inferred (i.e. of poor reliability) and he still hasn't applied for a mining licence yet and he hasn't stated where the cash is coming from to get it all up and running.
The 'investors', there have done a good job hyping it up and Colin knows that this RNS will get them more excited despite it announcing that nothing has happened for the past 2 to 3 months.
Share price was too low for Colin to get his placing away but it must be getting close now. Raise 1.5 million to finance through to production perhaps? Needs to get on with that application or Kabwe will be well underway before the first sod is cut at Star Zinc. Good luck to all involved - interested onlooker!
Hopefully they'll just get on with applying for the licence now rather than telling everyone that they intend to do it. But the RNS seems to have been received like a lead balloon (or rather a zinc balloon in their case), so expecting to see CBs rare earth RNS repeated in the near future, lol.
Looks like there was a large seller of Galileo yesterday when there was a lot of liquidity. Perhaps some of the shares held by BMR? If so where have we seen that before? Placing theory at the moment may not be quite on the money. Probably still to come in about 3 months time after news has been released of a processing and offtake agreement with Jubilee, and perhaps by then a successful small scale licence application. With rose tinted spectacles for Galileo shareholders a big dilutive placing might be avoided if Jubilee in particular through offtake agreement, and maybe mining contractor to secure contract, chip in to get the Star Zinc operation up and running. Or better still news of a sale of the Nevada gold asset comes through.
Good to see an alternative view Jammer. How about JLP purchase 1.5 million quids worth of new GLR shares (33% ownership) and the cash is used to get Star Zinc up and producing? plenty of ways to skin a cat - as always the cat will be skinned in a way that benefits the CEO. How about promise and promise and raise and spend and keep taking the salary for another couple of years - that could happen too - seen it quite a few times. Place your bets and spin the wheel.
Maybe Kalan, but a direct investment in a mining company would not be in line with the strategy to eliminate mining risks. Unlike BMR we do not strategically need a shareholding in Galileo. If Jubilee is going to help out Galileo at all with getting the Star Zinc mining up and running, an indirect "short term loan" through an advance payment in the off take agreement is more likely. The presentation is then much more palatable as well as the method of financing being of much lower risk. The advance payment would be presented as securing medium term high grade zinc ore supplies for Sable so that the overall unit cost of producing the zinc concentrate/metal can be significantly reduced when it is mixed with the upgraded Kabwe tailings.
CB has already appeared to rule out the prospect of LC agreeing for JLP to provide funding for Star Zinc during his UK investors presentation.
Maybe LC will change his mind, but you need to remember that if we really need zinc ore to optimize the process at Kabwe, then GLR/Star Zinc are not the only source we can get it from. We will have options, as has already been indicated in the JLP RNSs that mention it.