Member Info for Bluebelly

Prem hold Circum 5% - How much is that worth $10m - $50m - All guess work<br />$10m would give an SP of 0.1p, $20m =0.2p etc.<br /><br />Newco: 20% for $4m, therefore Prems share would be $16m. Raise $6m through equity, pay off debt remaining ($1m cap for Prem-GR loan?, same for KME).<br />Question is: How much will the market value the Newco at? Zulu, RHA(??%), Plant equipment, Katete Flourospar.& $4m cash. $30m seems cheap. (80% = $24m 0.24p.<br /><br />0.44p could be a fair price, but how long is all this going to take.<br /><br />BB<br />PS. I don't hold and probably won't whilst GR is in control. Newco board may change this!!

Baserite. Exactly,
It may be in the hands of other people, so why issue a 48 hour statement in an RNS if you have no idea when it will be sorted.
I didn't pop up, I've been watching Prem since selling out in January, after two years of frustration and loyalty as a shareholder. I should have listened to Woodpecker Further to that,I wish I'd bought at 0.11/0.12p, but didn't due to GR's involvement and how he has operated in the past - just need an Xray sorter, buy a Lime asset, dilution on a massive scale.

BB

I'm not impatient!
Why state 48hrs officially through an RNS? The RNS on 13th October, stated end of October. Why not release an RNS giving flexibility, such as end of November 18, The 31st October RNS was released to move the stated timeline from the previous RNS. Why would you stop updating the market?
GR's management style I guess.

BB

Good point.
Having agreed to an extension. Would it not be prudent to esquire why this timeline has not been met and if required, offer an extension. By Friday 15:00, the RNS timeline was missed. The market should have been updated as they were for the October deadline.

BB

Tomorrow at 15:00, it will be a week since the RNS.
Whether it's normal in the region to be late, is not a problem. GR should take this into account if it's standard business procedure and give a greater time scale, or state early November.
It seems strange if 2 days were required and it's now day six.

BB

BS15.
I thought Circum/Danakil were doing solution mining, which wouldn't require a mine shaft. They have the ideal temperatures for the evaporation process. Propably a lot cheaper too. With Sirius and Danakil coming onlie early 2021, the prices could be affected to the downside, but I'm sure they will make a pile of cash.
Still need to see GR come good on statements, before I come back in. Left in January 18 after 2 years & many let downs.

BB

I believe you've already re-rated.
Prem were already recovering 100% of the profit from RHA until the £20m was recovered. They struggled getting to profitable production. There's a few months until they can show the market that 49% or 90% ownership makes any difference. Hopefully a JV will put cas in the bank to make the necessary improvement and pay GR his loan back.

Circum and Zulu are great assets potentially!!

BB

Sumo. Same post with improved Hernic output: Giving 0.5p improvement on the SP
That will help our SP massively.
I put some figures together and it looks good with just Hernic and Platcro hitting target and allowing for 1 month shutdown for maintenance and 50% split on earnings
Hernic:
2500oz x (870-320) x 11/2 = $7.5m
Platcro:
2800oz x (870-420) x 11/2 = $6.9m

That's $14.5m to JLP to cover business cost of say £3m (total guess). Leaving $11.5m and using Kalan's P/E of 7 gives us a SP of (£59..2m) 4.52p.

Upside:
DCM - Fine chrome sucess and PGM production approval.
Kabwe - Zinc initially, followed by lead and hopefully Vanadium
Tjate - depending how high PoP goes

I'll be buying more at this price if funds allow.

BB

Sumo.
That will help our SP massively.
I put some figures together and it looks good with just Hernic and Platcro hitting target and allowing for 1 month shutdown for maintenance and 50% split on earnings
Hernic:
2000oz x (870-320) x 11/2 = $6m
Platcro:
2800oz x (870-420) x 11/2 = $6.9m

That's $13m to JLP to cover business cost of say £3m (total guess). Leaving $10m and using Kalan's P/E of 7 gives us a SP of (£53m) 4.04p.

Upside:
DCM - Fine chrome sucess and PGM production approval.
Kabwe - Zinc initially, followed by lead and hopefully Vanadium
Tjate - depending how high PoP goes

I'll be buying more at this price if funds allow.

BB

A sell at 2.02p for £1.84. Agreed, they are trying to create a market.
Glaw, Kabwe may not be the game changer at this point in time, but the other projects should react positively to PoP increasing and the fine chrome circuit coming back on-line at DCM. Kabwe & Platcro are next years revenue generators.
I'm not sure that your sell at 2.1p was a good idea, but each to their own. You did warn us of Riverfort in August, surprised you stayed so long. GL

BB

The extra $50/oz will give Hernic approx $1.2m/yr more revenue/profit.

BB

It would be good if it gets back to the $900-$1000 trading range. Then who knows where it could go too, with Fuel Cells being used in trains/lorries/cars.

BB

Thanks for the reply VGN.
I didn't know any of that. Only that BMR delisted and there was talk of relisting.
Whoever sold, possibly picked the bottom. That's frustration I guess.

BB

VGN
From 15/01/18 RNS: Both the Company and BMR are subject to lock-in and orderly market arrangements for the trading of each of the party’s subscription shares for a period of 12 months on normal market terms, such that neither company may sell more than 25% of the Subscription Shares during the first six months and 50% of the Subscription Shares during a period of six months thereafter.
They sold down from 4.83% to 3.55% (1,6663,272 shares). So they could sell down the odd 0.55% (7,210,000 shares) with out notifying the market of the change in holding.

BB

They either want your shares or that's been worked through over a few days. Someone has either sold all of their holding at the lowest point in 3.5 years, or it's BMR selling down their holding to release cash. They were allowed 25% during the first 6 months and a further 25% over the next 6 months. There seems to be a few RNS's missing on the LSE site, but available @ http://jubileemetalsgroup.com/regulatory-news/?archivist_page=2

BB

You need to look back to 16/7/15 for a lower sell price. We did only have 778m shares at that time. So our market cap is 68% higher, but that's no good for us shareholders. Lets hope that is the last major dilution we will see at JLP. With our income improving dramatically over the next 9-12 months, finance should be easy to come by, along with good business rates.

BB

Jonah
It is similar to the Oil Exploration companies that rise on the price of oil increasing, when they have reserves but no production.
The asset we hold does become more valuable on the books.

BB

The 25,000 tonnes/month feed is actually 37500 tonnes /month after pre-treatment has occurred.
There's a lot of interesting information in the interview.

BB

NM

Jeffry.
Some shares spike up on expectation, maybe Kabwe will cause this due to the size of the asset. However, JLP doesn;'t appear to operate in this manner. The market is cautiously waiting to see the FY figures in Nov (June to June), which I don't think will be that impressive due to the PoP and Capex along with reduced revenue at DCM, possibly the same next year due to the expenditure on Kabwe up to June for the FY report. However Kabwe will be online and I see positive SP action if the other projects are already successful.

BB