Member Info for Chatmandu

I certainly don't want to crystallise losses, but if Slater are exiting their position (do they need to declare that?) then it leaves Retail Investors holding the baby. I'm not sure how the board will be held to account in that scenario and, without an industrial investor to keep them honest, that could be disastrous.

The jam tomorrow mantra lacks any credibility at this point IMHO.

I'm really not sure what to do at this stage. I'm tempted to sell at 3p with the potential to buy back at a lower price - which seems inevitable.

Slater Ltd have reduced their holdings from 358.90m (30th June 2024) to 313.72m (1st April 2025).

That's a 12.6% reduction.

It looks like the share price is about to fall into 2.x pence territory.

It's not looking good.

@shuvlin

"Jubilee Metals Group Plc. (JLP.L) Monday announced a 54.4 percent decline in Profit after tax while group revenues surged 51 percent for the first half of the year, compared to the same period last year. The company attributed revenue growth to increased production of chrome concentrates.

The pre-tax profit was $1.524 million compared to $5.585 million last year. Profit declined to $2.50 million from $5.478 million in the prior year. On a per share basis, earnings were $0.05, compared to $0.20 last year."

https://www.rttnews.com/3525394/jubilee-metals-group-h1-pre-tax-profit-slips-despite-51-increase-in-revenues.aspx?type=ern

With earnings down by 75% on a per share basis, I'm surprised the share price has only fallen 12%.

@shuvlin

According to the FT, Slater is reducing his holdings.

Slater Investments Ltd.

-5.21m / -1.43%

358.90m

https://i.postimg.cc/g0m1Db8h/image-2025-03-31-141340047.png

@shuvlin

https://www.merriam-webster.com/slang/copium

What does copium mean?

Copium is a slang term for denial or rationalization in the face of defeat or failure. It is presented as a metaphorical drug people take when dealing with losing a game or otherwise being disappointed.

Unfortunately, I think chartism is really just a form of copium.

As others have said previously, into the overhang of institutional selling has been completed, it's unlikely that we'll see any positive shift in the share price.

Any upwards movement will likely spur the institutional investors to dump more shares at the better price.

@Shuvlin & Seisnav

I'm not sure what the delay is regarding this data, but AJ Bell still has Fidelity listed as holding 149 million shares. If they still need to sell their shares (4.87% of issued equity), then it's certainly going to put more pressure on the share price.

https://www.ajbell.co.uk/market-research/sub/LSE:JLP/company-info

Major shareholders

Name Amount Holding (%)

Slater Investments Limited 358,900,153 11.71

Hargreaves Lansdown Asset Mgmt Ltd 291,790,202 9.52

Interactive Investor Services Nominees 256,833,169 8.38

ACAM LP 206,447,822 6.73

Canaccord Genuity Group Inc 149,606,652 4.88

FIL Investment International 149,376,954 4.87

Veddis Capital 147,968,297 4.83

Peppermill Ltd 102,441,533 3.34

I'm still down more than 80% / £8k.

(52k shares at 19.5p)

I generally think that graphs are nonsense, but this chart isn't exactly screaming 'buy' is it?

https://i.postimg.cc/kXp0cxjL/image-2025-02-25-230030415.png

I've been toying with reducing my average purchase price by buying a few hundred thousand shares, but it doesn't feel like we're anywhere near the bottom yet.

Sub 3p is starting to feel like a certainty. Will we see sub 2p?

Has anybody calculated the previous impact of II selling - e.g. 100 million shares sold = 1p fall in share price?

How many shares do the Institutional Investors still have to shift?

Should I wait until we're down to a penny and buy a cool million?

I'm currently 80% down on my initial purchase (£10k now worth £2k).

I'm thinking about throwing another £5k at it, in an attempt to bring my average share price down.

Any thoughts on how low the share price might go before all the IIs have finished selling? Is this the bottom?

I voted against all proposals.

According to the tear sheet from 31/12/2024, EWI's investment in SpaceX is worth £100 million.

https://www.bailliegifford.com/en/uk/individual-investors/funds/edinburgh-worldwide-investment-trust/

The most recent valuation of SpaceX was £275 billion.

https://www.theguardian.com/science/2024/dec/11/spacex-valued-at-350bn-as-company-agrees-to-buy-shares-from-employees

So, based upon those numbers, EWI owns 0.036% of SpaceX.

"Chatmandu who has posted almost totally on SLP and never on JLP....I wonder why you popped up now? Worried that SLP investors might jump ship over here perhaps?"

I see the rampant paranoia of the SLP board is also present here...

Yes. I'm ashamed to say that I bought based upon a Simon Thompson recommendation. It's been a disaster.

Unfortunately, I've been distracted with a young family and took my eye off the ball.

I managed to get out of SLP at cost and made a profit via dividends, but I should have sold much, much, earlier.

I'm down more than 80%, but I'd urge caution for anybody that thinks it can't go lower.

Question:

What can you tell me about a company that has lost 90% of its value?

Answer:

It lost 80% of its value and then halved again.

I'm down 80% on this turd of a company.

There's not much point selling at this point and I doubt a takeover would salvage much of my money either.

Good luck everybody - I think we're going to need it.

Thanks for your input. I'll keep an eye on things.

@bangrak

Do you have any plans to buy back in? If so, what would be your target purchase price?

I'm out at break even price based upon original purchase price.

I've done well in terms of dividends, but should have sold a long time ago.

Being busy with a young family isn't really compatible with AIM shares...

I'm left wishing that I'd trusted my gut and sold out when they first announced share buy backs. I hate the things and it always strikes me as a management ploy to hit their bonuses, rather than something to benefit shareholders.

Now, do I wait and see if there's a dead cat bounce or get out and break even on my average purchase price?

That share buyback appears to have been an abysmal waste of our money. If they'd paid a dividend, the money would be safely in my account. Instead they've bought at 89p and are now 'holding' at 79p.