Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video 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.
Happydays
Of course you are right. Bad figures in the next 3 months or no further progress reports on Mopani, Chambishi & Mulfulira in Zambia or further details on the East Limb in South Africa is a game changer for me.
I agree to invest in promises is a no go.
And Dorfan, I've been waiting 13 years now. I'll be out if what Leon has said doesn't come to light over these next 3 months. There are plenty of majors on discount at the moment paying great dividends as well.
We all in different stages of our life and everyone should do what's best for them. I believe these next 3 months are make or break for Jubilee in terms of what ROAN and SABLE can ACTUALLY produce. If they hit target I'll stay if they don't I'm out.
Happy days... You also need cash to build your dreams... JLP had just 15 million at the time of the last reporting period.
Where's the cash coming from to build all this extra refining capacity when they can't even meet out the capacity at Sable?
The reality check is.. what's on paper and what happens in real life are two different things. Less talk more action and more ACTUAL numbers. If we were hitting target Leon would be the first to let us know. Like I said these 3 months are telling.
Happydays
Not Really a reality check.If you agree with Seis but question the time line does it matter you might have to wait a year or even 2 to be part of the a highly successful company. The share price will take a little longer to get to 20p
Seis, I'm a fan of yours and appreciate all your hard work you put in and share with us.
I do have concerns though.. for JLP to go from 3000 tons to 24 000 tons per annum by end of 2024 I'm sorry but that's impossible, surely even you can admit that. If you look how long it's taken to get Roan straightened out ( and it's not even there yet) how can JLP possibly produce 24 000 tons by end of 2024, that's only 1 and half years away. Refurbishment of a second refinery would need to basically be on the go right now. I'm sorry but we at least another 2 years out and that's if we close out the Mopani deal. Anything to do with TAX and who owes what doesn't sound good and personally I don't see this issue going away anytime soon hence the major changes at Sable and Roan (which is a good thing). Yes Leon can say the president is getting involved but honestly I doubt he can wave a magic wand and make it disappear.
Below is on their website which I'm surprised hasn't been updated.
"In 2022 design work for our second copper processing facility in Zambia, Project Lechwe, was completed. This project targets a production level of 7 500 copper in concentrate per annum by the second quarter of calendar year 2023"
My best guess is that we hit 10 000 tons by June 2024. I can't see any other projects built or refurb and commissioned this year.
Everyone needs a reality check here.
I was first talking nonsense then I was just lucky, now I'm clueless again but look at this.....
A post from exactly 1 year ago when I was warning about the cash position. 100% in the SP needed just get back to this god awful day and this is why JLP is done, it was a 500million mcap bank with only 15 million in cash. Wake up people
"BushyTailed
Posted in: JLP
Posts: 1,448
Price: 14.70
Strong Sell
RE: Options20 Mar 2022 15:19
It's not the ARCAM deal was so bad at the time... What is bad is that JLP have demonstrated their ability and willingness to pay back debt.
Capital and compounded interest equates to settlement of circa 12 million. Considering how much money they're supposedly making from supposedly world class assets and processes then why couldn't they have settled from fcf or at least borrowed from a bank with their supposedly vastly improved finances and operations to settle the arcam agreement?
Truth is in the accounts... They're not making as much as some in here think and a bank won't lend against their operations, even with a 500mil mcap. Or, Leon will never be willing to pay a debt, so long as investors are happy to keep paying 3 times as much."
Seis
Thank you for reminding me why I invested in the company. There is massive growth potential in both countries.
Maybe I am to impatient and I can only hope communication will improve as the company grows
I’m sure you’d like everyone to filter you so you can go on posting lies without being challenged eh?
The FACTS are that Jubilee has already agreed terms to purchase a refinery which will be paid off over several years. The Zambian President has even got involved in resolving the last sticking point, unpaid tax by the previous owner, he said that could be resolved this month.
“The targeted refinery holds an approximate capacity of 40 000 tonnes per annum of copper and 5 000 tonnes of cobalt.”
There are only two refineries currently in the area which could produce that level of copper and cobalt as far as I know, Mopani and Chambishi Metals. Chambishi Metals has been in the news for a couple of reasons, one, an unpaid tax bill and two, a report that an “unnamed buyer” would soon be bringing it back into operation. I’m sure even the genius BushyTailed and put two and two together.
What’s the other big news about Chambishi Metals? They already have a furnace for the processing of refinery s l a g, perfect for the Mufulira project which we have recently bid on (and also hold the exploration license for). Leon said in the recent presentation that the Mufulira project would be a “perfect fit” for us… I wonder why!
In case you don’t know that project is “ to recover approximately 115,000 tons of copper and 30,000 tons of cobalt metals.” from very high grade refinery s l a g. Try working out the value of that amount of copper and cobalt…. You will soon appreciate why its so important.
Yes we have suffered delays but if thats all you can focus on and you can’t see the opportunities opening up for Jubilee then yes maybe you should be invested elsewhere. Jubilee have already proved that they can extract A grade copper cathode from waste (this is no small achievement!), what they need to do now is do it consistently and at scale.
That filter button is working well dorforno.
25k tonnes of copper by 2024 ha ha ha...Surely you don't believe that... You're going to have buy another 1.5 sables for that and jlp doesn't have the capacity, the money or the execution to build a refinery.
Leon is just going to keep spinning lies hopes and dreams until everyone here is gone, a name change will follow and it will all start again with a new broker and a new batch of forum board crusaders.
What will JLP call themselves next, my money is on Jubilee Battery Metals or Tjate Resources. Bring on the next trope of happy clappers
Happydays
It is one thing to read the rubbish that bushy sprouts and another your concerns which are real and affects all of us LTH .
If you read the main Jubilee website it describes a company that will produce 25000 tons of copper by 2024 (not long to go) and 5280 tons of cobalt. The company is definitely quick on promises and slow on production in respect to the Zambian operations. Yes I know there was a water and load shedding problem but I believe in fairness to share holders we need new and sustainable production figures going forward.
From experience I know it is time consuming to build a company from nothing to a viable company,which with the help of my CEO (Terry McConnachie) we did by firstly buying a closed chrome mine,secondly by attracting investment from the Royal Bafoking Nation to help with the building of 2 ferro -chrome furnaces,but at all times we were careful to give our shareholders an up to date progress report something that Jubilee has NOT done.
I want to make it clear that I believe Jubilee can still achieve their goals but from now on I expect better communication skills and transparency.
I will only remain a LTH if I see an improvement in communication.
6...Results won' land until October
The fact is all truths will be revealed over the next three months.
Kabwe was a loss, Sable was Leon chasing the loss.
Never chase a loss.
All Leon has managed here is to over extend operations and costs, at the expense of actual production.
JLP should have just concentrated on PGM's and growing the pgm production profile to 80k plus. This all started going wrong when they bought Kabwe from BMR the day before the licence was pulled, been a money pit ever since.
Copper isn't the only thing that's going backwards either Happydayz
"Achieved stated target of 50 162 PGM5 ounces for FY2021 (up 23% compared with 40 743 ounces for FY2020); this was achieved during a period which included the construction and commissioning of two new chrome beneficiation facilities and the commencement of the construction of the expanded and refocused Inyoni PGM operation"
I remember the last 6 month target was revised from 3700 tons to 3000 tons. We missed that target and only produced 1200 tons.
Now this half is only 1800 tons. Blady hell we going backwards here!! How on earth was 10 000 tons ever in the picture . What a FUp
Makes sense why the share price has been in a free fall this year. What a shambles. And still no production figures out this year.. and more silent treatment as we back at 2 year lows.
I apologise I honestly thought the target was 3000 for these 6 months. Well then I'm.not surprised by the share price performance.
The original 10 000 ton estimate through me off. So we only going to produce 1800 tons over these 6 months. .. that's pitiful..
Excerpt from 20 March interims:
Full year Outlook FY2023
§ PGM production of 38 000oz unchanged with potential of upwards revision depending on South Africa's power supply outlook
§ Chrome operations expected to exceed guidance of 1.2 m tonnes of chrome concentrate with support of stronger chrome prices seen during current period
§ Copper guidance adjusted to 3 000 tonnes, revised to align with the delayed ramp-up of Roan Concentrator and commercialisation of the Southern Copper Refining project
o Post commercialisation, expected in May 2023, the Southern Copper Refining project, projected to maintain 550 tonnes of copper per month from Roan alone and 130 tonnes from third party supplies
o Copper prices remain well supported by constrained supply against a strong demand for the metal. Copper price up by 13.6% during January 2023 to date compared with the reporting period
§ The flexibility of Sable Refinery offers Jubilee the ability to pivot between copper and cobalt production to rapidly respond to changing market fundamentals. This flexibility is used at all times to maximise copper equivalent production units.
o Cobalt prices have come off sharply during the current period therefore Sable is able to pivot towards increased copper production
Yes 3000 tonnes is for the full year, have a look in the RNS, it’s listed under “Full year Outlook FY2023”.
What we do know:
Copper production of 1149 tonnes in the first half, meaning a target of 1851 tonnes for second half of the year.
Roan started ramp-up end of February.
Roan at 80% by 20th March. According to the analyst call Leon said first target of 550 tonnes and final target of 700 tonnes (potentially up to 800 tonnes), 550 tonnes is 80% (approximately) of 700 tonnes. So when he says 80% ramped up I think he means producing concentrate at 550 tonnes / month.
Roan at 100% “during May” so producing concentrate at 700 tonnes / month before June.
On top of that there is the 3rd party material direct leached at Sable. The RNS states 130 tonnes / month.
If you add all that up then 3000 tonnes for the year should be more than achievable, assuming no other issues. I would hope Leon is being conservative with his estimates this time to avoid disappointment. He did say the 38,000 oz of PGM’s was a conservative number.
No it is not.
Check the interim results it clearly states the target for FY2023 is 3000 copper tonnes.
The 3000 ton forecast is from Jan 2023 to end of June 2023.
Happy we have already produced 1000 copper tonnes in the first six months of the FY so there’s another 2000 to produce in the current six month period. We may have already produced 500 in the first 3 months of this year leaving 1500 to produce in April, May, June. I think this is doable with Roan ramping up and close to commercialisation.
The simple truth is that we are now into the second quarter and we are clueless as to how much copper and cobalt we have produced this year.
The forecast is 3000 tons for end of June and that is now physical impossible as there has been no update yet that we hitting 800 tons a month which is what would be needed to reach 3000 tons. The share price is down for a reason, never think you smarter than the market. Yes its cheap but it's cheap for a reason.
Until Leon updates the market that we miraculously producing 800 tons a month this share will go no where fast.
All these recent interviews mean nothing until we see numbers and I'm afraid the numbers aren't adding up.
Bushy, I love you. xxxooo