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Looks like Colin is getting excited about commodities as well now. https://twitter.com/ColinBirdMining/status/1669088980455899141?s=20
Some serious value in copper and chrome plant has been added, which is definitely not reflected in the share price yet. As earnings come through over the next 3/6/9 and 12 months, this will re rate considerably. As metal prices gain traction this will re rate considerably. As the Eastern limb unfolds this will re rate considerably, as the Northern project unfolds this will rearte considerably! Lots to get excited about!
I think metals prices will fluctuate but if the deep mining operations in SA are struggling with power then PGM's should recover, and strongly, especially given the promised stimulus in China.
Copper is key to decarbonising so will be strong moving forward.
Cobalt has been hit by a supply glut but again when this normalises there should be demand for "non tainted" (i.e. no child labour) cobalt.
Key as Dorf mentions is the communications. We were told they recognised that this needed improving and hopefully they will follow through on this!
ATB
Northern
This mornings chrome concentrate price:
www.ferroalloynet.com: South African chrome ore 40-42% concentrate price is 290-295(bulk).
Living in South Africa I feel I can reassure shareholders that both the South African and Zambian governments need Jubilee as much as Jubilee needs them. Both countries need to create jobs as well as earn money from their mining exploits so I am not as negative about the countries as some posters are.
I believe that copper and PGM's will recover in price so all we need from the Jubilee board is to be transparent with share holders about production efforts.
We should see a magnificent company emerge if everything goes to plan.
Platinum about to break back above $1,000, Palladium back through $1,400 and Copper at $8,600.
So many things affect commodity prices which have been much more volatile for various reasons, like the Ukraine war, the soaring dollar in which commodities are priced meaning they are more expensive for non-dollar currency holders. And then the algos amplify the volatility by slavishly reacting to price changes ... https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/032223-commodity-price-volatility-here-to-stay-amid-geopolitics-energy-transition-challenges-trafigura-cfo Pt will recover.
I thought platinum was going to be in a huge deficit this year?
Bizarre that Platinum is back under $1000 six months into the year with a million ounce deficit statement by the Platinum gurus.
Something is not adding up. Are cars sales down??
That would be excellent- but the issue is about delivery and the bottom line - if the investments turn into significant and growing profits I would like to see dividends which support the share price. It worked for I3E plc
Written in late January 2023, OD. The author is an insider and lives in SA so has personal experience of the business and operating conditions there.
Struggling on the 20 week average... Failure here takes us to sub 6.5p
I guess this article was done just before JLP declared the power / water issues, which had a massive effect on the SP. Just goes to show that once we begin to see results based with no power / water restrictions we should see a rather rapid rerate. Hopefully!!
OD
A very good and well written article. Summary:
JMG is growing at 100% plus per annum as if it is a technology company, which it sort of is.
The latest growth area is the coveted battery metals, copper, and cobalt.
The share price is hopelessly undervalued at around 12.5 pence a share.
Target price for post-June 2023 results is 50 pence per share and target price for post-June 2024 is 80 pence per share.
https://seekingalpha.com/article/4573418-jubilee-metals-group-stock-lean-mean-money-making-machine#comments
PS Your (correct) observation startlingly highlights the effects of climate change and the urgent need to invest in commodities essential for the green revolution - especially copper.
At last you've got one right, Bushy. I've got to agree with you. In 2022 there were numerous reports of swallows in the SW of England in January and February. I think a maximum of 12 birds were seen at a time. Maybe 13 swallows makes a summer?
Hello Leon, please can you give us an update on Jubilees Plans for Tjate.
METALS – Shanghai copper hits 7 – week high on demand expectations
02:56
BEIJING, June 14 (Reuters) – Shanghai copper prices rose on Wednesday to a seven-week high, with the demand outlook buoyed by China's latest economic support and a subdued dollar amid expectations of an interest rate hike pause by the U.S. Federal Reserve.
The most-traded July copper contract on the Shanghai Futures Exchange was up 1.4% at 67,920 yuan ($9,478.49) per metric tonne by 0138 GMT, its highest since April 25.
China's central bank's decision to cut short-term borrowing costs for the first time in 10 months came as the latest move by the country to support its economy, signalling potentially a rise in demand for industrial metals.
Upbeat sentiment sent three-month copper on the London Metal Exchange to a one-month high in the previous session, while the contract retreated 0.1% to $8,448 per metric tonne.
The dollar hovered around a three-week low on Wednesday, after the smallest annual increase in inflation last month in more than two years supported expectations that the Fed will pause rate hikes at its two-day meeting ending on Wednesday.
In China, refined copper output declined month-on-month in May because of smelters' maintenance. That, coupled with lower imports due to unfavorable market conditions, raised concerns of further supply tightness.
Don't cry Bushy.
One swallow does not make a summer.
Tears again soon
The greatest weight on the SP recently has been the lackluster Chinese recovery and associated low metal prices. Looks like they're about to embark on some major stimulus over there so fingers crossed.
A little increase in the share price does improve the mood and a sustained uptrend would sure be nice. Still please do remember that JBL shares were at 20 pence in May 2021, at 15 pence in May 2022, and at 9.5 pence in May 2023. We still have a ways to go before total euphoria should break out.
Yes Mikie, when cobalt prices moderate and go up its scary to think how high JLP share price can go. I don't know any company at this price point with this commodity in their back pocket that's waiting in the winds to tear the roof off.
Yes indeed Happy Days, the earnings going forward are going to be very Happy days indeed!! Can you imagine when commodity prices return?????
Hi Summit. I don't think the grade of the tailings has reduced. In fact, some time ago, there was some unsubstantiated speculation that the PGM grade of ROM ore coming to Inyoni would increase. As others have pointed out, it looks as though Leon sees our future as a chrome producer as well as PGM and copper with plans afoot to increase chrome by a further 60% within 24 months. It will be interesting to see how this chrome will appear in the accounts. It is beginning to look substantially more than just a PGM credit.
What's very exciting Mikie is that even though this 6 month period should be good with 2x increase in copper production and salable cobalt. The next 6 months will see yet again another doubling of copper production and a 30 percent increase in chrome at higher profit margins. What's not to like... it seems the market is finally waking up.
Hey Seis, Thanks for the chrome work, just taken a look and i think the correlation is pretty evident. However, the really interesting factor is the price of chrome is still increasing quarter on quarter. This is making Leons latest expansion of 200k tonnes, ramping up to 360K tonnes, with a fairly short term target of 720k tonnes look inspired. Which ever way you look upon this, it is either phenonomal luck or superb timing and planning from Leon and the board.