Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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That $880 area looks like a technical testing point. Lets see what side it settles over the next couple of months.
BB
Sadly didn't stay above $900 for 3 months. Too much too soon..
Hi Billy Boy - the problem with comparing JLP with SLP has always been the longevity of the projects. With Kabwe this becomes a more realistic comparison as it is probably going to be around for 20 years as the main income stream. Hernic and DCM will come to an end but Windsor / Elland is now kicking in and new projects will be announced. SLP have been good at rotating sites out as they exhaust and new ones in to replace them. JLP is now moving to a similar position but more diversified. Plus there is always the proved up and licenced mine potential at Tjate which may come into play in the future.
Hi BB2,
Yes I agree that the Shard revenue numbers seem too high. Shard did them before Kabwe was delayed so they lag by almost 12 months. My forecasts for revenue are:
June '20 FY - £47m
June '21 FY - £116m
June '22 FY - £158m
Lots of factors to play about with those revenue numbers i.e. basket prices, metal prices, switching from concentrate to refined metal, exchange rates, ramp up of circuits etc etc.
Hi BB,
It would be interesting if anyone has done their own research figures for revenue and net profit for FY2020 and FY 2021. My expected revenue for FY2019 is £23m which is £7m short of the Shard figure stated in March.
The stated revenue for FY2020 and FY 2021 at £104m and £197m seems high to me.
One possible concern to me that I would like to understand more is the terms of the terms of the project loan provided by ACAM for Kabwe..........
At any time that the loan is outstanding, ACAM may at its absolute discretion, by conversion notice, elect to convert the loan and all accrued but unpaid interest into 5 per cent unsecured convertible loan notes with a conversion price of 2.81 pence (ZAR 53.98 cents) ("Subscription Price") and a maturity date which falls on the third anniversary of the Closing Date...........
This seems to suggest that rather than have the loan repaid plus interest, ACAM could convert to shares at 2.81p. A higher share price over the next 30 months would obviously make this option more likely imo. Can anyone please explain what exactly this means. Would ACAM have to actually pay 2.81p per share to convert or would they be received them "freebie in lieu of the loan repayment by JLP" ???
Thanks in advance,
BB2
BB2 - There can only be one BB in this village.
Good post and all those figures look good, 17p is retirement stuff, 10p is still life changing for me. It has been a long slow uphill struggle for most JLP holders, but I believe there is light at the end of the tunnel. I will sell what I have above 1m shares at various prices on the way up. The rest will ride to what ever level - may be even receive a Dividend.
BB
Investing correctly is all about timing, it is very clear that JLP will shortly re-rate on the basis of the numbers posted below.
The market is quiet currently but JLP looks an outstanding proposition at current levels - this could easily be trading above 10p within 6-9 months.
BB.
I am expecting revenue FY19 (30/06/19) to be approx £23m.
The Broker note in March forecasted FY20 revenue of £104m (net profit £17m) and FY21 revenue of £197m (net profit £41m).
Using SLP as a guide, (FY19 $70m revenue and $18m net profit), mcap £113 (7.8 times), JLP sp for 2020 would be 7.1p and 2021 would be 17p.
Interested in your thoughts.
BB
Palladium makes a new high & Platinum $200 of its low. That adds up over 60k oz's. $1m/month??
BB
Testing, testing.
07:57 23 Sep 19
BB
Hi,
I am trying to post a message but it wont show up. Is there a delay on posting or other issues currently?
Regards, Billy.
nm
Hi MH.
The audited accounts will be Jul 18- Jul 19, so they wont reflect the higher prices. However the interims in March will show Jul-Dec 19 and will look great with Windsor PGM's included.
Hopefully, Q3 19 update in Oct, should be the start of the rerate, it may have started, slow & steady rise. Q4 will hopefully include something from Kabwe at a push.
BB
Posted this article on platinum price forecasts previously, and there is good potential that the current platinum price is an excellent sign of things to come. If the price remains above $900 for 3 months, then the target price turns bullish with a first target of $1190/oz, which they predict to happen around the end of the year. So far we're almost a month in, 2 months to go, which ties in very nicely for our audited accounts in November.
https://investinghaven.com/commodities-gold/platinum-price-forecast-2019/
Yes. PoP up and down, but trading in a channel between $920 and 960, and has been there for a while now. Palladium and Rhodium at all time highs. No one seems too excited, but it will be reflected in our bottom line.
Yup, looking good so far..
Sitting back relaxed as slowly up she goes. More buyers than sellers now and holding the breakout nicely :)