Member Info for 4everlong

Unless there is non disclosure in the RNS or misinformation I don't see the issue.

RNS

Jubilee, a diversified metals producer with operations in South Africa and Zambia, announces the receipt of a conditional binding offer from a private mining and metals trading company to acquire the Group's chrome and PGM operations in South Africa for a consideration of up to US$90 million (Binding Offer). The Binding Offer is subject to a number of customary conditions including entering into final agreements (Definitive Agreements) and obtaining shareholder approval for any agreed transaction.

Note that the "BINDING OFFER is SUBJECT TO A NUMBER OF CUSTOMARY CONDITIONS."

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In essence, the Binding Offer is a significant step towards a potential deal, but it's not the end of the process. The completion of the Definitive Agreements and shareholder approval are crucial for the offer to be fully realized. 

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Receipt of a binding offer simply means the offerer cannot withdraw the offer if the seller, through due process, agrees to the sale.

Whether the board had accepted the offer AND agreed to penalties if not accepted, is not reflected in the RNS. I certainly hope they haven't. The circular would have to provide more detail.

It's clear that many on this group don't comprehend what a binding offer means.

(Hint -> offer)

A binding offer is a proposal made by one party to another that, once accepted, creates a legally enforceable agreement. It signifies a commitment from both the offeror (the one making the offer) and the offeree (the one receiving the offer) to fulfill the terms outlined in the offer. This contrasts with non-binding offers, which do not create legal obligations until a formal contract is signed.

In this event a binding offer cannot be withdrawn by the offeror. Once the shareholders vote, and IF they agree to the sale, the offeror is obligated to exercise the terms of the agreement. At that point the agreement is not reversible by the seller (Jubilee) without penalties as specified in the agreement.

In M&A deals, a binding offer indicates a serious commitment from the BUYER to acquire the target company. 

Note that the offer was calculated and made BEFORE the significant rise in the PGM basket, and it would make sense that the offer is adjusted to have any chance of success.

Bottomsup if there was a revised offer incoming / discussed it wouldn't be difficult to advise the market accordingly with a short RNS. The current offer (and terms) although initiated before Pt recovered is surely almost irrelevant by now?

Would definitely help sentiment.

We were told the circular would be published in a few weeks. We are now at the 5 week mark since the RNS announcing the proposed sale of SA operations.

Still not a word from management. No mention of changes, or negotiations wrt the initial offer either, in light of current market developments. It is obvious the offer wasn't made the day the RNS was published so there should already have been some work on this prior to the RNS. Management certainly do not instil confidence and the market is reflecting that.

The uncertainty is undermining the share price with Jubilee the worst performing Pt share on the market. Coupled with our copper infrastructure and forward potential Jubilee should be flying.

Let's hope that the reason for the delay is big news incoming.

But with Jubilee expectation vs reality are often pretty far apart.

We continue to live in hope and in anticipation of great news.

🕙🕙🕙🕙

36 posts so far on a Sunday is indicative of the frustrations of most on this platform. Too little information, too many questions

It seems that shareholders have been treated like mushrooms..... ( kept in the dark and fed bs) hence the speculation and uncertainty. It's not unjustified given recent share performance and so many targets being missed.

Most just want some clarity and confidence restored in management and Jubilee.

Hopefully Jubilee joins the party soon!

Platinum's full-throated recovery brings downcycle to an end - Miningmx https://share.google/RwfvU8XHJBWYTBdcQ

It hasn't been mentioned, but I'm extremely grateful that the offer for SA came at the time that Pt, etc, has rocketed.

Imagine if you will that the offer was made in February & the deal concluded 3 months later and THEN the subsequent rise in the Pt basket.

Although the timing of the RNS couldn't have been much worse in terms of our share price ( agreed that management could not have foreseen this ) at least we are able to assess the offer relative to the current status.

100% Happydays.

He couldn't have said much less as an analysts assessment / comment of Jubilee in his monthly report. Compared to his previous detailed comments this one would be regarded as a "nothing burger".

"I covered Jubilee’s pivot earlier this month - so will simply say that we may well be about to witness a stellar rise, despite investor reservations."

With that comment he literally has all his bases covered!! 🤷

I'd be interested to know from management if a budget is allocated to influencers for their input on the various platforms. It seems that there is a concerted effort by some to gloss over relevant issues more than one would normally expect. Eg. I'm often surprised at how quickly and aggressively some respond on this platform.

Like myself, most on this platform, within their own capacity significant shareholders and due to the long term trajectory of the share price, probably well under water. We all saw the potential amd bought the story.

After all the disappointments we want the best possible outcome, and trust that eventually this crippled ship is going to be salvaged.

We hope that our patience and commitment will be rewarded.

100% Kalan. Nearly a month since the RNS.

The only developments were:

Ricus leaves

CEO took his summer break

Share tanks

Pt rockets

Jubilee Zambian copper production half of forecast

What's not to like?

We can only hope that there is some negotiation at the moment around the offer of "up to" $90m over 3 years. It shouldn't take this long to provide an outline of the offer.

One would assume that if the offer was being revised due to subsequent changes in the Pt market, a brief RNS could have been issued advising shareholders accordingly.

But, as we know, that's not the Jubilee way.

We must be the worst performing Platinum share on the market today. Most Pt companies are up 50 to 70% this year.

Before the RNS of the sale the share price was in the process of recovering. Since then Pt has steadily risen but the Jubilees price has gone down!

It's obvious why there is massive frustration. It can't take that long to release a circular. These delays are not helping.

Pt started recovering mid May. Not 2 weeks ago.

https://www.google.com/search?q=platinum+price+today&sca_esv=383f604929234591&sxsrf=AE3TifNXHbOVq-lEUt8oDsIW-R2Cidapeg%3A1749628841776&source=hp&ei=qTdJaNuKLaSehbIP2LDnkAo&oq=platinum+price&gs_lp=EhFtb2JpbGUtZ3dzLXdpei1ocCIOcGxhdGludW0gcHJpY2UqAggBMgsQABiABBixAxiDATILEAAYgAQYsQMYgwEyBBAAGAMyCxAAGIAEGLEDGIMBMgUQABiABDIFEAAYgAQyBRAAGIAEMgUQABiABEjFPlCbBFiVM3ACeACQAQGYAbAHoAHmOaoBCTMtNS42LjMuMbgBAcgBAPgBAZgCEKACrTOoAg_CAg0QLhjHARgnGOoCGK8BwgIHECMYJxjqAsICFhAjGIIGGIMGGCcY-gUY6gIY7QUY3QXCAgoQIxiABBgnGIoFwgIQEC4YgAQYxwEYJxiKBRivAcICCxAAGIAEGJECGIoFwgIREC4YgAQYkQIYxwEYigUYrwHCAgUQLhiABMICDhAAGIAEGLEDGIMBGIoFwgIKECMY8AUYJxjJAsICEBAjGPAFGIAEGCcYyQIYigXCAggQABiABBixA8ICDhAuGIAEGLEDGMcBGK8BwgILEC4YgAQYxwEYrwHCAg0QABiABBixAxiDARgKwgIQEC4YgAQYsQMYxwEYChivAcICDRAuGIAEGMcBGAoYrwHCAgYQABgDGArCAgcQABiABBgKwgIOEAAYgAQYkQIYsQMYigWYAw7xBXJaUANCRG9JkgcJMi4zLTUuNy4yoAfqkAGyBwczLTUuNy4yuAeXM8IHBjItMTMuM8gHcQ&sclient=mobile-gws-wiz-hp

Platinum up 5% today. Just under $1397.

I think most on this group feel the same as I do.

Frustrated by potential, promises and underachievement.

Had Jbl achieved in Zambia this year, what was initially stated, combined with the 30% upswing in Pgm, the share price would have been well into double digits.

Obviously, management can't be blamed for everything, but it doesn't negate sentiment.

I live in hope that the RNS paints a very pretty picture, reflects amended terms in the agreement, that Jbl will then be cash flush, and we have hit the mother lode in Zambia. 😁

Jbl just needed the cash to secure it. 💰💰

Similar action just before last RNS.

I would be cautious with the allegations that could have a material impact on the sale price.

Although most of us want clear guidance and facts to make our decisions, fear mongering is not constructive, unless of course you have a different agenda to most on this group chat. I assume your little bird is a disgruntled previous employee as mentioned in your headline.

Litigation could become pretty expensive.

To sum up where we are today:

As of today Platinum up 44,4% year to date.

Most Pt producers share prices significantly reflect that (excluding Jubilee). Sibanye is up 94% ytd.

The timing of the RNS advising the potential sale of the SA ops couldn't have been worse. If management were aiming for shareholder value destruction they've done well!

On each occasion that the share price was rallying, management has found a way to change that🦧. As we know communication has been poor with projections that now seem as if they were totally detached from reality. Shareholders feel that management has not been transparent and now discover LC is on holiday while the share price tanks, waiting for a circular that could have a significant impact.

This is why the ambience on this platform has degraded into speculation, negativity, and personal insults. Shareholders are rightly frustrated and continually disappointed, while having to speculate and play a guessing game.

We can only hope that the next RNS offers a massive correction.

The intitiative of some calling for a change in management is short-sighted, as now is the time we need stability and execution. We all know the potential and it's time the long suffering shareholders are rewarded.

There should be no reason in delaying the release of the circular much longer unless negotiations are under way to renegotiate based on current market prices.

If this was the case shareholders should be advised of this.

This is the second Platinum miner to be hit hit by a cyber attack (Platinum and chrome).

TSX- and JSE-listed Eastern Platinum (Eastplats) has advised shareholders of a cybersecurity incident affecting its internal IT systems.

Eastplats took immediate containment measures to protect its network and data once it detected the breach, and has since been working with cybersecurity experts to thoroughly investigate the incident’s scope and undertake remedial action. 

Thanks Papaki.

Refreshing to read a sensible statement for a change on this platform. Your points are valid and definitely relevant to the overall status of the SA operations.

Appreciated 👍

Shuvlin

Thanks for the link to the Charles Archer update.

If you scroll down to the comments (only 1 currently), there is a very detailed, well structured response, which I think sums up why the market is wary of developments.

One telling statement was how little "skin in the game" Leon actually has. I'm talking about his own money, not the freeroll, via 1p share allocation. I have paid for more shares than Leon, and therefore have more of my own money in the business.

That probably applies to many investors here.

He certainly earns enough to buy a significant volume of shares that would show commitment to the market at this stage and belief in his own story.

To sum up some of us, (pi's) are carrying more personal risk than him!

Stay tuned for the next exciting Jubilee episode brought to you by the usual suspects.

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