Technology Minerals, Canada Nickel & Goldplat presented at London South East's May live webinar. Catch up here.
I have no issue with the granting of share options to directors whose actions will after all be responsible for the future success of the company. It is always the bad timing and the failure to announce the options at the same time that his appointment was announced that irks me.
It would also be nice to consider shareholders some times and announce present production figures and let us in on future developments.
Just want to clarify that I hope for earnings enhancing dilution.
Negative speculation about dilution is STUPID.
Maybe part of the problem with today's share price is that the new chairman is thought to be too old.
I am into my eighties and consider 70 young
I fear what has come to pass with promises not kept and bad publicity from the company who have failed to keep shareholders informed as to reasons for delays ,and the lack of production details in a fast growing company the market has grown distrustful of the company.I fully appreciate the difficulties the company has faced and I agree with all that we are on to a winner in the long run so will continue to accumulate rather than to sell,but I also continue to wish that the PR will show some improvement. I had never heard of the new chairman but his credentials are impressive and maybe he will be able to improve communications,which I believe is the reason for the unbelievable low share price.
I do remain optimistic and have full confidence in Leon.
I don't believe Acam or any institution is selling.My guess ,although we had an update this month, it is PI who bought at much lower prices taking profits as they are still concerned about prospects especially for copper and cobalt. The concerns will dry up only when decent profit figures are disclosed
as I hope you can now see that the minister of mines in SA has threatened to withdraw Sybanye Stillwater mining licence effectively committing suicide as a country who can only survive with new investments entering the company.I only hope the president has more brains than the minister of mines.A good example of Africa unfortunately.
Great that you asked.I built up a company in South Africa from a market cap from R1.28 Million which is today worth 5 Billion Rand and could not have done without the help of the Royal Bafokeng Nation who had close ties to the South African Government . South Africa and for that matter Zambia are not first world counties and cannot be equated to England or the USA. Believe me you need to live in the country to understand how important it is to have friendly relations with the SA government and I would assume the same for Zambia.
So to me it was a massive deal to see that photograph.
I do concede many points made by homey are valid.Dilution when the company promised no dilution, but any rational person after the announced dilution should appreciate what is the problem,the actual dilution or the fact they had announced NO dilution.I have been a severe critic of how their PR seems to ignore the private investor and will continue to criticize their PR which has been hopeless and needs to improve but that bad PR does not change my opinion of a company going places.Homey you want facts as you discuss the East Limb.You do not base decisions to build a plant on the East Limb based on the price of Rhodium which may soar once the world is producing more vehicles,but on overall estimates if in the long run it will be a good move.I believe that without doubt a new plant will be the correct move for the future of the company and so I cannot get negative if they dilute if they need extra funds.Like you I hope they will manage the costs from cash flow,BUT overall it is a good move.
You trivialize that the minister of mines from Zambia travels to South Africa to meet Leon at Inyoni and remarks that he is happy to see how Jubilee treats its employees in the country referring to both Zambia and South Africa which you pass off as immaterial as it is not a Chinese official and therefore I must agree with Gotreal that go out of your way to put a negative spin on the company. Your intentions may be honorable but you come over as an extremely pessimistic person.
I was wondering how you would a nothing spin on what I saw.
I saw the wonderful relationship Leon has with the Zambian authorities which will lead to many more deals in that country as well Leon doing pretty well in South Africa.
Surely you of all people who call for balance cannot have missed the POSITIVE VIBES
I really don't want to crow just yet but I believe the photo with the Zambian Minister of Mines and the sentiment expressed has played a big part in why the share price has stood firm in a sea of red.
Homey you are very quite
I agree with your prognosis which is fair comment.
I am in South Africa and will also not be able to attend the GM.
I hope the shareholders there will ask all the right questions with so much going on and no information coming from the company. The weak share price stems from lack of trust and bad PR from the company.Nothing to do with performance to date
Jubilee are passed the stage of issuing shares to keep the lights on. At this stage any dilution WILL result in earnings increasing FAR beyond any loss to shareholders.I lived through the situation and unlike you would welcome dilution as I have little doubt it would increase the value of the share.
Try not to follow shareholders who regard dilution as a problem. Work out the earnings after dilution and you will see I am right.
Firstly I would like to agree with Charles432 that the silence from the company regarding PGM and Copper production is showing up in the performance of the price of the share
Secondly I see on the other site, a poster Bullster is the apparent fundi on the Pgm basket but his %'s are so different to mine that I would welcome comment as to who is more correct.
His %'s are 49% Platinum 40% Palladium 9% Rhodium 2% Gold.
I have different %'s for the East and West limbs
West Limb 75% Platinum 16% Palladium 7% Rhodium 2% Gold
East Limb 66% Platinum 20% Palladium 12%Rhodium 2% Gold
Could somebody confirm who is more correct?
That is a question I hope that will be asked at the meeting. A second question is why we are being kept in the dark about copper production and hopefully increased production of PGM's.
As I cannot get to the meeting would somebody please ask why we are not getting quarterly results and why we need to rely on third parties to let us know what is happening in Cypress.Somebody needs tell Leon that the shareholders appreciate his efforts to grow the company BUT his public relation department stinks
Expense of producing PGM'S which includes all the chrome produced has been reported as $560 per ton using ore from the West limb and $825 from the East limb (the difference of $265 is transport to Inyoni for processing)
Inyoni is reported to be able to produce 22000 tons of PGM of which I calculate will be 14750 from the West limb and 7250 tons from the East limb (although cost is higher for East limb I have calculated a better basket price from East ore limb of $950 mainly due to the higher % Rhodium produced on the East Limb).
The above calculation produces a figure of earnings of $28 752 913 from the West limb and $ 19 045 750 from the East limb. This gives total earnings in the half year to $ 47 798 663 from pgm,s (excludes chrome and Windsor as well as any pay out to partners on the East limb as they are unknown) That is what my model suggests.
Hope that helps
I would welcome your opinion on the urgent meeting called next month to allow the issue of new shares which included the statement that there was no deal on the table at the moment that needed a share issue.
As you know I am believer in the both Leon and the company,nor am I in camp that believe dilution is bad, but the RNS worries me,mainly the second part which could have been for the benefit of those that don't see the benefit of dilution to enhance earnings.
If it was added to appease those shareholders who regard dilution as bad and protect the share price it clearly has not worked and is just another blunder by the PR department.
I would much rather believe that there is a big deal that awaits,as otherwise the seems to be little reason for a obvious urgent meeting.It could have been put forward by resolution at the next AGM.
That is my take on the meeting.
What do you think?
Ace maybe I am clutching at straws but what has changed is that the government has allowed more competition to Eskom.
More and more mining houses are looking for alternatives to Eskom.
Maybe foolishly I remain an optimist.Only time will tell,