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@ Seisnav Feel free to ignore me. Thanks.
Agreed buttermilk there is a big focus on chrome, however concerned there are now many racing to join the frey - which may bring prices back down to earth. At least jlp are producing now and benefiting from current inflated rates. I just hope they do eventually get copper going before lots of new chrome capacity switches on.
Why would anyone be interested in what you think butterball?
Market is really interested in chrome. Everything else is ignored. Today it is a good thing. LC media presence is a disaster, but market is already aware of his "guideline flexibility".
IMHO this is a asymmetric risk reward situation, maybe they get lucky and copper is a thing and it will fly. Downside are lower chrome prices that might not happen anytime soon.
Leon should add contingency time in his schedules/forecasts. If he did then we could occasionally get good news when sh*t doesn't happen.
A few weeks delay is frustrating but is par for the course when conducting business especially in Africa -it is a storm in a teacup and does not have impact on the production targets when Roan is up and running -just look at the long delays in completing some large Government projects in the Uk for example
Bobbill, you have hit the nail on the head. Shameful, miss-leading behaviour by the company
How does it work with your car or any other bit of machinery bobbill? Doesn't need much imagination to see the possible problems. S88t happens as they say. Fortunately this is really not the major event that some on here would like it to be and other areas of production are proceeding nicely.
Delays - something we have come to expect with JLP
- what disappoints me with this one is in the project update of 28 March they told us “Roan was progressing to schedule “ but now 3 weeks later there is a 6 week delay, how does that work?
Very annoyed given I stupidly bought a few yesterday on the drop in case of an early good news RNS... Sadly it is the same old story and feel JLP they have been almost blatently dishonest. Clearly they knew ramp up was not going to be achieved on time and yet said nothing, in fact continued to say it would be end of the month.
While Copper is a big prize, it remains, as ever, jam tomorrow. This is a timely reminder that this company still cannot be trusted and thus extreme care is needed. People often comment wondering why the share price is not moving despite the potential and improving Copper prices etc - I feel this is a good lesson why - in the case of JLP unless it is actually delivered, there is a high chance of delay, a "problem" that is never their fault... or they all of a sudden just wont mention it ever again! I really wish this company would learn and treat shareholders with a bit more respect. I expect this to drop substantially frustratingly. I remain very dubious on the IRH thing, I feel they were very vague in the last RNS - it did not say agreement signed (which was supposed to be months ago). Anyway maybe a chance for a top up or re entry if you are gambling they may eventually deliver some Copper in meaningful volume.
Yes they will.
About credibility: A few weeks ago LC confirmed Roan's timeline. Yet we read there is another delay from a delay. Delaying started back in September and my wild guess is it will take a year to implement the "Upgrade".
But imho we are talking peanuts: the biggest challenge they have to overcome is to economically extract copper from waste rock. They are probably not there. One reason why they play delaying tactics and that's why nobody wants to team with them.
On the bright side: Downside is probably limited right now because of chrome and a rising PGM basket.
The operational update delays copper production by 1 month.One would think reading the board that the company has gone into liquidation. I MONTH ! Are all investors crazy.Nothing else has changed .I have to believe Jubilee will grow into a massive company (1 Month later) All it is another chance to BUY not SELL
If you want to see delays, take a peek at PREM… now >12 months’ behind schedule…a few weeks here and there is nothing in the grand scheme of primary minerals. Jubilee have cash, they have revenue, they have profit, they have expansion plans WIP and they have a diverse range of materials they have all of the things the rest of my AIM investments don’t have…this is a solid investment and I intend to fill my tiny boots as far as I can
No they didn't ... you are lying.
Oh do be quiet buttercup
Your strategy to distract "discussion" with nonsense is not working anymore.
Yeah I am doubling down, probably now, because latest RNS proved me wrong. Management missed their guidance only by 3000 tonnes of copper. Not a biggy. At least for you. Market has a second opinion .
If they produce it a bit later LUFC they may well be able to take advantage of even higher copper prices.
Disappointed in the delay to roan, no one can dispute that, taken momentum out of the SP when copper prices are at record levels.. very happy with Chrome
Would the Chairman, the CFO and the CEO have invested so much time, money and resource on the waste rock project with IRH if there was EVER any chance that it WOULDN'T go ahead? Ask your self that... and no, why wait for Roan when they can see the tremendous success and extraordinary expansion of the Chrome operations using the same technique??
@Kalan I guess this a comprehensive summary and somehow it is not disappointing because we already expected such an outcome.
RNS is manufactured in Jubilee style containing a few buzz words, everything vague and of course omitting negative aspects of business.
Overall nothing changed. Business as usual.
PGM basket price is mentioned this time. Thanks for that..
It's not a 4 week delay though is it? It's another 4 week delay on top of all the others.
Frustration - Roan delayed again but lets put it into context that assuming they hit the revised deadline its not a long time in the grand scheme of things.
Chrome - better than expected and additional Thutse module on track for August.
PGMs - lower grade was flagged and less of a concern at current prices.
Copper - obviously Roan not great but the expansion of the feedsources is good business.
Munkoyo - 4500T per year of copper is 50% up on previous estimates and on track for Sept-24.
Expansion of Sable mentioned.
IRH - detailed work on where to put the modules as you would expect to maximise early value and keep operating costs to a minimum.
Delays are obviously frustrating but the destination remains the same and the growth will come thick and fast.
ATB
Northern
Are you pleased with this update gotreal, honestly?
We might not like it but this update is the reason sub-saharan Africa based business can be so frustrating. If it isnt admin issues on permits and customs (and they are usually based on the systems the UK put in there before anyone thinks we in the UK are better) there is a local official holding it till he can become a "facilitator" for you in securing a release of the product. 6 weeks is frustrating but I dont intend to sell so looking back henceforth it will be forgotten I hope.
I set up a business in Malawi in the 00's. Used to feel that I lived at the customs office and the airport at times! Once had 2 trucks of salt held at border for 3 weeks but absolute worst case was a charity I supported. An enthusiastic donor had visited and I had taken him to my factory where he had seen I had a buy a bike initiative for employees -he wanted to do this for wider economy so he arranged without my knowledge for a 40foot container of donated 2nds hand bikes to be delivered to the Charity from Australia. 8 months it took to get through clearing this. In short no matter how "on top" of things you might be, or who you know, anything like this can be a mighty mighty pain.
Apologies for over sharing.
NtD
Signing off - he's arrived - as expected. I can do without this.