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207m shares issued at £0.06 = £12.42m
415m pre payment warrants paid for @ £0.0575 exercisable @ £0.0025?? = £23.8m
Then it states:
'One of the Ordinary Warrants so allotted shall entitle the holder to subscribe for one Ordinary Share at an exercise price of £0.08, and the other shall entitle the holder to subscribe for one Ordinary Share at an exercise price of £0.10.'
See below
For Ordinary Shares subscribed for under the Subscription Agreement, Armistice has agreed to pay a price of £0.06 per share. For Pre-Payment Warrants subscribed for under the Subscription Agreement, Armistice has agreed to pay a price of £0.0575 per warrant.
If the subscription obligations in the Subscription Agreement oblige the Armistice to subscribe for Ordinary Shares representing more than 9.9 per cent. of the enlarged issued share capital, Armistice will instead subscribe for Pre-Payment Warrants. Pre-Payment Warrants are exercisable at any time on payment of £0.0025.
Armistice will be allotted two Ordinary Warrants, for every one Ordinary Share or Pre-Payment Warrant that Armistice is allotted pursuant to the Subscription Agreement. One of the Ordinary Warrants so allotted shall entitle the holder to subscribe for one Ordinary Share at an exercise price of £0.08, and the other shall entitle the holder to subscribe for one Ordinary Share at an exercise price of £0.10.
Any thoughts
BB
The warrants will bring in about £2.28m.
Most of those warrants were issued at a premium to the SP at the time. There's no risk to the holder, but if the company's SP improves they become a good option. An incentive to part with cash at a time when funding is limited.
BB
https://twitter.com/jubilee_metals/status/1602248274416730113?s=61&t=_SHveOKsmZ2hjuMEG-bspg
BB
Our Northern Strategy tailing is 50% better and has no mining cost, plus the Cobalt - That is a win in comparison to XTR's Racecourse project. Don't know any details & I'm not knocking XTR. I'm just highlighting how good JLP future looks IMHO.
BB
A lot going on.
Measure twice, cut once!
Get the plans right first time for the Northern Strategy. I still believe Jubilee will come out of this, smelling of roses and the weak SP will be a thing of the past. A rising saw tooth always looks poor at certain points. Hold long & prosper!
BB
That seems illegal! The shares are suspended.
Someone has got £200k for some shares valued at 0p, or someone has got cheap shares prior to some news and relisting at a higher price!
This should be explained.
BB
https://twitter.com/Jubilee_Metals/status/1587830362356428801
BB
This should be good news, then we can look forward to the interim results, which will be known to some in the know, around late Feb 23. The SP should be well north of here by their release around Mar 23.
BB
Results will be the driver for the SP over the next 12months. Nothing in interviews will move the price. JLP is now priced on its earnings and not potential earnings. The market will rerate after the results are released or possibly in the build up to audited results (Leaky).
Blue skies ahead IMHO!
BB
https://twitter.com/Jubilee_Metals/status/1582742417710538752
BB
Assuming 10% of cobalt production capacity: US$ 92 million
Assuming 100% of cobalt production capacity: US$ 126 million
Old exchange rate: approx $1.35
$92m = £68m
$126m = £93m
Current exchange rate: $1.10
$92m = £83m
$126m = £114m
With a market cap of £313m that is a PE ratio of around 3 or 4
BB
https://www.bloomberg.com/news/articles/2022-09-21/copper-prices-fall-despite-signs-of-looming-crucial-metal-shortage#xj4y7vzkg?%23xj4y7vzkg?=true&sref=fL087TYC%23xj4y7vzkg?%23xj4y7vzkg=true&sref=fL087TYC
https://twitter.com/Jubilee_Metals/status/1575058407819616257
Hang in there, JLP will gain massively when the point on inflection is reached.
BB
Also, that $1162/oz profit gave £929/oz, it now gives us £1070/oz, but the market is missing that.
Our product is priced in $'s and we are listed on the FTSE AIM in £'s.
This should be reflected in the SP over the next 6 months.
BB