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Why are people repeatedly claiming that we are not producing copper?
Thanks, LJS
There are a lot of excellent posts on this thread. While, as I said, Colin did an excellent job getting JLP where it is today I also believe that he had taken it as far as he could and a change was overdue by the time he left. The company, under the new management team have taken it to new levels as stated by NTF, gotreal and MS.
NTS - just for clarification. In my previous post I agreed with Charles432 that Leon is an engineer who enjoys solving technical problem. At no time have I stated that he was " Just an engineer". I invested in this company because of Leon many years ago when he was running Braemore.
If I have have given you that impression, I apologise.
We are producing copper, just at a lower rate than we hope to see after the full commissioning.
The point I’m making is that combined earnings from chrome and PGM’s should be in the same ball park as last year and that isn’t reflected in the SP yet because the market doesn’t know about it, whereas the individual investor who puts a bit of effort in to work out the numbers can see that.
Trouble is no Copper, just delays, no SP benefit!
Look identical to me too. I don't see copper having much affect at the moment Seisnav the delays probably having too much drag on it so probably want to see numbers improve or just Roan in full flight but the market definitely hasn't picked up on Chrome yet.
I track SLP share price in my spreadsheet because they are (currently) still a pure PGM play so it's a good indicator in my view of how the market views Jubilee....
https://tinyurl.com/yn3bzp8x
Do you see any evidence of chrome or copper affecting the share price? To my eye they are tracking pretty much identically.
That explains it thanks Seisnav.
Thutse was only fully ramped up for Q2 so that's why the earnings jumped during the second half of H1
RNS in March so not relevant.
Just noticed on the Chrome figures Seisnav published the second quarter price was down and yet the gross margin increased from $10 to $23. I wonder if they got a better margin for the 40% toll processing. Forgot when it was renegotiated.
Give it a rest gotreal or the board will end up in another slanging match with multiple posts being deleted like last night. It disrupts good discussion.
Seisnav post was interesting with the figures he posted.
Why do you let buttermilk wind you up so much?
Back behind the sofa for me:)
I expect earnings to come in somewhere close to last year, which is not bad when you consider that most of our (so called) peers will be reporting a drop of around 70% or more due to the fall in PGM basket.
Definitely Gray, if they grow the copper on this platform, earnings will be jumping, especially if the copper price keeps jumping as production jumps.
$15M, would certainly be a land mark Seis! Seems to me, most people expect the price of copper to keep rising.
Thanks Seisnav for the figures.
The chrome does look good Mikie and a $30 gross margin is a distinct possibility for the 4th quarter.
We don't quite realise the full price for copper in the accounts. First half average 6.7k on an average copper price of around 8.2k. Now at 10k so there will undoubtedly be an uplift on the price JLP publish. I assumed 8k in my prediction for next year so it will be interesting to see what JLP show in their accounts for the last 6 months.
pgms moving up. I worked out what the gross margin was for the second quarter and it was only $96. I was looking at between $100-$200 for next year. Good signs.
@Frogkid: 50 % in 8 weeks with NEM. JPL let's be civil, it is consolidating. Even commodity prices would support a higher share price, but Jubilee instead decided to wait for electrical components and engage in artisan mining. LC is talking about vast opportunities here and there, but SP is not moving. Strange.
Chrome is slightly down from its high a couple of weeks back but still (as of today) quoted at US$300-308 / tonne for 40-42% concentrate.
A lot depends on getting Roan up and running really, if that happens within the timeline that we were given then US$15 m is certainly achievable, although its important to remember that quite often the amount sold is less than the amount produced during the reporting period, especially if we are expecting it to be weighted towards the end of the period, we might not see the full benefit of production in the revenue and earnings. Good to see copper hitting US$10,000 / tonne again, that will certainly give us a boost!
No it isn't, it is running at reduced capacity... what is wrong with you??
It's really very simple gotreal, our Cu circuit is currently down. Until we get confirmation it is back up we are going nowhere. Hence my extreme irritation at our current delays.
@happyday Thanks for your timely advice: Nemont mining. 52 weeks low 29.43 8 weeks ago. Today 43.41. plus 48%
You sound like Cramer. Lol.
Thanks for priceless advice. I am following netiquette.
Seis, that's great thanks. The chrome increase is significant if that holds through the current quarter. The copper average is increasing by the day as well, given the current copper price. Even at 300 tonnes per month and the $10kt price holds, that's a significant increase. Earnings should be around $15m for the final quarter? Whats your thoughts?
Here are the quarterly averages for the current financial year, including the current quarter so far:
https://tinyurl.com/353jx4a6
I wonder why HDS ..... when the knockers are trying so hard.....
BRIEF – Goldman Sachs Sees Copper At $12,000/T On A 12 Month Basis
24 Apr 2024
April 24 (Reuters) – GOLDMAN SACHS:
Sees $2700/t 12m Price Targets And $2850/t 2025 Price Average For Aluminium
"We Target Copper To $12,000/t On A 12m Basis"
"On A 12m Basis, We Continue To Target Lme Nickel At $15,000/t (Average $16,000/t This Year)"
Says It Continues To See The Copper Market In Countdown Phase To A Refined Metal Deficit
Newmont gold blow earnings estimates out of the water yesterday. Share price shot up 13%.
There are many gold shares that are trading at 50% discount to the gold price that have not yet reported earnings for last quarter.
I started to accumulate some gold shares and already up 30%.
With gold at $2300 + , earnings for gold miners should be spectacular just like Newmont showed last night.
Just a heads up for all my friends on this wall.
Use it don't use it. Up to you.. :)