Member Info for BushyTailed

Who is ACAM exactly??? Two private investors from London & New York respectively, now 5 bagged with absolutely zero risk as secured on Kabwe assets and underwritten as a loan.

I can't believe you think forking out 36 million instead of 12 is good value... You guy's don't even know when you've been poked in the eye. Like cattle trying to push the queue at the Abattoir, there's going to be blood and guts all over the place.

No DCM
No Copper
No Retained Earnings
No Chairman
More Spend
More Dilution

Keep adding lol

That's only 600k though, not the two million that was alluded to

Choppie they not given to them for 1p, they just happen to be ordinary shares of 1p...1p is the notional value.

For instance, if you worked for Barclays and they gave you some shares as part of a work saver scheme, you'd receive barclays shares of 25p each.

Notional share values have zero correlation to the market value of the shares.

1 penny is the notional value you dink... as in "ordinary shares of 1p"

Off topic so slightly...

Guys, just filter or report the moron, I have a long standing interest in PGM producers, including JLP. I'm hardly going to stop posting what I think because some sad ****on the internet thinks he can police peoples opinions and try to censor what get's posted on a board.

JLP is your typical jam tomorrow, over priced, false promises, lies and capital losses that get swept under the carpet with placings and write downs.

Latest one is the lapse of a 6 million CLN issued 3 years ago for a project to produce 10'000 tonnes of copper within 2 years. Guess what, no copper and now cln to be converted to shares and sold for 36 million.

BOD also sold all their free bonus shares and the chairman has quit with no replacement.

If you have £100 to spare, go and open a short, 400 mill company worth 100 at best. In the meantime I've filtered him so won't see or reply to anything the cretin has to say

Sounds spot until he said the directors have been accumulating lol

Yup 8p coming... ACAM are selling 210 million and they'll take whatever price you're prepared to take. They only have to clear 12.6 million and anything else is a bonus lol

No JLPpositive... I'm focusing on the fact that JLP could have paid this back anytime until the anniversary date and capped it at total cost of the loan.

Craig for an exact figure we need to calculate the following
Loan 6 Million x Interest 12% over 3 years = 8.4million
Warrants 50% of 8.4 million equals 4.2million plus the 8.4 equals total repayment value of 12.6 million

Total cost of 12.6million or a an annualised rate of 28% Not the best terms but JLP had few options at the time. The problem is that JLP has supposedly been making record profits but couldn't pony this up and instead opting for the shareholder to pony up over 3 x times the stated costs.

I had hoped JLP had changed. Sadly not

It's cost an extra 25 million to produce nothing...

#WhereIsTheCopperLeon

They literally had up to the last day to find 6 million quid and issue 3 million quids worth of warrants. Instead they lapsed the anniversary date and let you the shareholder pay back 36 million instead.

It doesn't matter what you think has happened, this is a matter of fact.

Yes Sumo... So JLP had 3 years to pay back the loan of 6 million plus warrants equal to 50% of the loans value. So total repayment of 9 million and they had up to the date of the 3rd anniversary to pay it back without penalty.

Now do you see?

Whoops

"During the loan period, Jubilee may notify ACAM of its intention to prepay the whole of the loan balance by prepayment notice. On the date of any prepayment Jubilee will issue warrants to ACAM to a value equal to 50 per cent of the amount of the loan and all accrued but unpaid interest thereon divided by the Subscription Price."

Sum, don't talk wet. Creditors don't make loans with no facility of repayment.

Loans and investments have different tax implications as well, so not withstanding the complete lack of understanding of what a CLN is, you're actually suggesting that JLP could actually be complicit it in the creation and execution of a tax avoidance scheme?

Prey tell, why not issue a placing at 2.8p with a 3 year lock in period, as that's what you are suggesting to have happened?

Craig, I'm not going to reply to you on the subject any further. It's clear you're guesstimating fantsasy scenarios on the basis of a lack of knowledge.

Money for shares is called a placing, a loan note is promissory. That's it... Simples

"I don’t think JLP had thr option to settle the loan and interest in cash hence they had to issue equity."

You could not be more wrong, it's very naive to have taken this highly irregular assumption Craig

It's just that you asked Alwaysone whether or not he actually knew what a CLN was"

I had no idea you was asking him to fill in your knowledge gap, apologies. But now you know right?

Nope, your first assumption is correct, 210 million are to be dumped on to the market as we talk. Well done on CEY though, i sold at 105 the other day and didn't add back yesterday, was humming and arring for too long.

"From my understanding of the CLN there was no option to pay back the money with interest and cancel the issue of equity."

Like I said... "Do you know what a CLN is"

The clue is in the name, loans get paid back one way or another. If there was no intention for it to be paid back then it wouldn't have been a loan. It would have been an investment at 2.8p like anyone else who took part in the numerous different placings organised at the end of Colin's cannon.

The equivalent interest rate is not really relevant:

Of course it is... It's the total cost of the loan.

The conversion puts the cost of borrowing just 6 million for 3 years at 33.5 million based at a sp of 16p. Well done leon, that's great shareholder value.

That's an APR of over 80% a year.