Member Info for Bluebelly

Buttermilk, that's why the SP is where it is. Increased chrome/pgm and any sniff of an improvement in copper production & the SP will lift, may be rerate. People will come off the sidelines and miss the first 20-30% rise.

BB

Bushy was out on 'Day release' & got away from his carers. Found him in Spooners, 'Minesweeping'.

BB

Great summary BB2

Hopefully Copper tailings will now be 'Nailed'.

BB

Thanks Northern, great snippets and much appreciated, lets hope they can 'Do what it says on the tin'.

BB

Good to hear from you Kalan, thought you may have been a Covid statistic. Unfortunately, I sold here prior to the rise and it cost me a fortune and early retirement. Held 1.6m shares at one point, now I'm here with less than 200k shares. However, life goes on and I have 5 years before I sell out, or they pay a dividend :-)

Will top up here and there, maybe!!

BB

The spread yesterday was 5.3 - 5.7p, then closes at 5.7p rather than the mid price of 5.5p.

It's still a poor performance, but not quite as depressing as 5% down.

BB

Thanks for making the effort to attend NS.

I look forward to hearing any feedback you may have. Hopefully there will be an update prior to the event to ensure there are improvements that can be discussed, or it may turn into a drain down from disillusioned PI's & rightly so if more targets are missed or Quarterlies not published.

BB

Good post CG - I hope it's around the mark.

That would put our PE at around 4 & I believe the market would then need to rerate JLP's SP upwards and with further news to follow, better times are ahead! Wish I had cash to put in here.

BB

Sumoskier: From 6/6/23 RNS-Under the terms of the Agreement, Jubilee's potential earnings per tonne of chrome concentrate produced, represent a five-fold increase over existing toll treatment terms (toll agreements delivering a 4% margin at today's prices).

I guess your're right, but by how much. The Q1/24 update should give us an idea. SeisNav will probably have a better view on this.

BB

Have just emailed JLP wrt the capital spend stated in '£' for 2023:

------------2022---($)-----2023---------------------------------------2023----(£)------2022-------

(-1%) - $37 643 497 - $37 443 796 - - Capital spend - --- £47 409 212 - £30 993 020 - (+53%)

That £47m appears way to high and thus the 53% increase in spend would drop significantly.

The revenue line showed (-8%) in $'s but was up 1% in £'s due to the exchange rate.

BB

Found it!

In Annual report pg 20.

'Profit after taxation decreased by 58% to £12.3 million (FY2022: £26.5 million) or US$14.8 million (FY2022: US$35.3 million)'

However, we are still a profit making company, in dire times for most PGM producers.

BB

Today 08:14

Alliance News

'Jubilee Metals annual profit down 54% as margins come under pressure'.

That is not right, is it? Sounds like a post from BT

BB

Shareholders will have noted that the majority of producers have suffered significant gross margin contraction, with latest quarterly results of these producers demonstrating that most are now incurring operational losses. It is therefore pleasing to report that we currently remain cash generative and profitable despite the prevailing PGM pricing headwinds.

BB

------------2022---($)-----2023---------------------------------------2023----(£)------2022-------

(1%) - 37 643 497 - 37 443 796 - US$ - Capital spend - £ - 47 409 212 - 30 993 020 - 53%

Maybe it should be $47m & £37m (

That £47m appears way to high and thus the 53% increase in spend would drop significantly.

The revenue line showed (-8%) in $'s but was up 1% in £'s due to the exchange rate.

Any boffins care to point me in the right direction if I'm going wrong here.

BB

The 2022 $/£ = approx for 2022 $1.32 & for 2023 $1.19

so £31m or about 3% increase.

?????

BB

2022 2023 2023 2022

(1%) - 37 643 497 - 37 443 796 - US$ - Capital spend - £ - 47 409 212 - 30 993 020 - 53%

That £47m appears way to high and thus the 53% would drop significantly.

Maybe $47m & £37m

Any boffins care to point me in the right direction if I'm going wrong here.

BB

'Although you would hope they would not sit on the production figures that long.... Good or bad.'

Exactly Skeletor, we are currently priced for failure & could be valued higher for the reserves & assets we currently have, but the money shortfall is killing the SP.

BB

10 Days is surely enough time to get an idea of the total production for Q2/FY24. Just so the market can see how well they are doing now. Or are they waiting for BAT to be completely out before releasing a positive RNS.

BB

10% dilution would have been preferable to this falling SP & I believe would have shown good financial management. Are the investment houses now punishing him for not offering a slice of the company. They'll now take some at a massive discount, if they see value here.

If we are not profitable very soon, the raise would be lower than todays SP, at 12p that £3m would give 25% dilution. Or is Mr Proddas happy, he may increase his holding by bailing the company out and thus increasing his holding substsantially. Then all of a sudden we become profitable. It wouldn't be the first company to employ that MO.

All speculation now, as no one knows what's going on.

BB

The reverse of that for balance is:

Continue to burn cash (non-profitable operation).

Need to raise funds at a very dilutive level.

Can profitability be achieved? If it cannot, it could be the start of a 'Death Spiral'.

Let's hope we see some good news shortly, that will give us confirmation TGR's production is increasing.

BB