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http://www.lse.co.uk/share-regulatory-news.asp?shareprice=RRR&ArticleCode=byszrhjq&ArticleHeadline=Conditional_JV_to_develop_cobaltcopper_tailings
26 Sept 17.
How much in salary etc in the meantime?
AB would have given the Golden Brick away to an Afghan Christian Coal Mining Co (that sounds like a rrr/rgm investment) and then stuttered through a news interview on projected profit forecasts
Helpful : "AB could turn up on your doorstep with gold bricks and you would still pull a face."
If that's how you interpret the market sentiment then isn't that really suggestive of the need for this BOD to move on?
What would 50% of f all be worth?
Commercial being the operative word there eh Helpful?!
Currently the plant is not commercial because the price of electricity is too high so they would be operating at a loss.
Dear oh dear
I have seen that and already knew about it as you would if you did any research. AB gave an interview two weeks ago. In that he said that Steelmin had moved from a system of water cooling to air cooling. In the hot summer this prevented them operating at 100% capacity.
AB wants control: why? He stated he wanted to go to 50% plus.
We will end up with 50% of a decent asset for pretty much nothing. Why go to the trouble taking your position over 50% if it is a basket case?
Try thinking like a commercial person.
DYOR
From : Jajce Online Site
https://jajce-online.com/2018/09/14/steelmin-zbog-poskupljenja-elektricne-energije-tesko-je-nastaviti-proizvodnju/
Steelmin: Due to rising electricity prices, it is difficult to continue manufacturing
Google Trans:
"After a successful three-month trial, Steelmin BH from Jajce halted production for two to three weeks in order to repair the shortcomings that had emerged after testing and trial work, the Steelmin Management Board BH "says:
The repair of the plant, ie the elimination of observed defects during the first three months of the trial work, is completed and preparations are under way for the continuation of production"
"In the meantime, we conducted negotiations with the bidders for electricity supply, where we encountered certain problems. Since May, when we started production and since we had short-term contracts, the price of electricity has increased dramatically. We planned to conclude a quarterly contract with the most favorable electricity supplier, ie by the end of this year. But the problem is that the current from 57 euros per MWh (megawatt hour) from May on the market has now increased to almost 77 euros per MWh"
"This is a drastic rise in price, and this new situation, according to the director, has led the company into an unfavorable position and in the situation that it is an uncertain continuation of production by the end of September or the beginning of October"
"We consider it important to inform the public that it is not about the issues we can influence. It would simply produce at a cost of 77 euros per MWh of electricity, with loss, which is unacceptable."
Follow the board stooges here at your peril imo.
Out in force. Obviously the dividend is the wrong type of money.
Deluded. JMS is distributing at a run rate of over £1mil pa. RRR costs are about £500k pa. Things are looking good, hence why the trolls are out.
What are you going to say when we end up with 50% plus of Steelmin for pretty much nothing?
As I said before: AB could turn up on your doorstep with gold bricks and you would still pull a face.
DYOR
Yes d_s_many of us have been kidded by AB. Someone asked you a few weeks ago if you still had any interest in Ivory Coast and I cannot recall if you replied. May I ask have you any remaining involvement with AB.
Looks like old Vini has had his latest account removed . . . again ! How many is that now?! Losing count.
"Regarding the poster formerly known as Cityfan (or Vini). I know he was posting on the LION and PREM thread and glancing through the new posters i would say looking through this posters posts (from Monday and before) http://www.lse.co.uk/member-info.asp?page=1&nick=Covert and i would say i'm 99.9% sure Vini is now the poster "COVERT"
.....................
Vini i knew you would return back to this thread one day. You are so easy to spot. :)
Worth a watch the NR shares and investing.
https://www.sharesmagazine.co.uk/video/paul-johnson-ceo-of-metal-tiger-mtr
https://twitter.com/JBrewerMining/status/1039961898542936064?s=19
They probably dump their personal or payment shares into any bit of liquidity!
Go up when share talk do a link ? Just an observation !
Another one.
Both will have to buy $JMS
http://www.morningstar.co.uk/uk/etf/snapshot/snapshot.aspx?id=0P0000K33Y
http://www.morningstar.co.uk/uk/etf/snapshot/snapshot.aspx?id=0P0001688K
Read and weep!
JMS admitted to the SP/ASX 300
This will put JMS on institutional radars!! All coming together nicely.
https://www.jupitermines.com/cproot/837/3/20180907%20S%20and%20P%20DJI%20Announces%20September%202018%20Quarterly%20Rebalance%20(JMS%20Inclusion).pdf
"Bell has been through some highly volatile markets over the years, and he knows the pain of equity dilution as well as the next company director."
But painful for whom?
Who are they in this situation? There is no onus on anybody to buy tshipi from its current owners. A small part of me thinks that is why the divi is so good, cash out quick before a chunk may get nationalised or whatever term you want to use.
Jupiter was a bargain buy on the secondary market for years. Nobody wanted it. Then they relisted on asx. The price has dipped a small bit, but the share is showing no signs of life.
As you point out, it's a nice dividend. Good quality, long life asset. There must be an issue somewhere.
Are there any Chinese on the jms register? Did they ever show an interest?
http://www.msn.com/en-gb/money/news/there-was-just-gold-everywhere-as-far-as-you-could-see-miners-discover-90kg-of-the-precious-metal-worth-a-whopping-dollar15million-in-just-four-days/ar-BBN6RgW?ocid=ientp
More Gold than RRR have found and sold in over 10 years!! Without paying themselves £300-500k per year!
PorridgeOats: "why are Jupiter's shares trading so low?"
Just my personal opinion on possible reasons
1. The share value was massively overhyped before the IPO and the previous cash handouts were done as share buybacks presumably with the intention of trying to set a value in the markets minds. Didn't work imo.
2. It's a slow plodding company. With no plans to further the pother projects it's not a share that will fluctuate much so traders will be looking for better opportunities.
3. Of the 5 directors, only 2 actually hold shares directly with the company which is not a sign of confidence imo
The other directors wield shares from other companies inc Pallinghurst, Posco and of course here RRR
Those who got caught during the IPO paying 40c prices are now locked in so will likely just sit on them.
With nothing likely to shake the markets any time soon the SP will just stagnate.
*they have no choice about where the manganese is mined from. It is like people going on about cobalt and then saying they don't like the DRC; well tough, that is where the big deposits are.
Anyway if JMS does declare the dividend that they have indicated that they will, they will be on a huge yield since the full year dividend is likely to be higher than the the interim.
If the JMS share price stays where it is and the dividends from Tshipi work out as they look like they will, then JMS will be yielding maybe 23% ish on a full year basis. Regardless of risk that is a big yield. Just because PIs don't fancy it, doesn't mean that fund managers won't go for it.
In investing and in life there is a thing called "reversion to the mean": Over time, you would expect the JMS share price to move to something closer to the mean yield. It maybe that the risk requires a premium on the yield but it is not 23% vs 3.5% - 4.5%. Lets see what happens when they actually declare the dividend.
There may be too much turmoil, I don't know. If they do list it, fine and they don't list it, fine. The only thing about a listing might be that the look through value might be better for JMS and RRR.
DYOR
Course they have a choice. To buy or not to buy. What's that?
Most would rather leave it out of their portfolio than add. Manganese wouldn't be at the top of everybody's wish list would it?
Too much turmoil in sa to try a London listing I would say.