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Micky
Yes the market did not like the update with the usual delays. At least we got an update which we were promised.
As usual Leon tried to put a favorable spin on the update but I must agree with you I don't believe it effects us as LTH. We always knew we would have to exercise patience, and in the long term Jubilee are leaders in a new industry and I am sure there will be better news around the corner.At this stage I see the biggest problem as the South African government and I fear that no jobs will be created if the ANC remain in power. Unfortunately the future in South Africa rests on many uneducated people seeing the light that the ANC are chasing away the investors. The hope is that they do not form the next government.
Happydays
The South African platinum producers are threatening to close shafts.It is a comfort that Jubilee are still in profit.It is difficult to know whom to believe as to whether PGM's are in surplus or deficit but the longer we have low prices any surplus will soon go into deficit.In the mean time chrome and copper prices are holding up.I can only hope there will be a RNS soon as regards to what is happening.We continue to live in hope
Frog
Thank you for your kind words. I am now too old to even think of coming back but I did suggest to Leon that he should employ my son as financial director (he is both a South African and Australian accountant) who assisted me when I took over the chairmanship of Merafe and is extremely capable. The name would have helped in South Africa and I had no doubt he was an ideal financial director.Of course I got the reply that they would look into it and then SILENCE
Yes Frog
I was chairman of a company that was also fast growing and quickly learned that no news was bad news.We made it our goal to tell shareholders what was happening as it is common sense that if you don't do so the assumption is BAD NEWS.
It is clearly hurting the share price
We still have the same problem with Leon, as with a company which is growing so fast he does not realize that no news equates to bad news. He promised us updates on Roan which has not been forthcoming and likewise if there is no other new copper news available at least tell us chrome and PGM production.Surely he can see that lack of news is hurting the share price. I will try and email the company with what I see is a major problem
Gotreal
You are simply wasting your time with bushy.I firmly believe in the fact that there are many who choose not to see reality in all walks of life.Giving them the true facts is a wasted exercise
Yes Charles I live here. The ANC is keeping in power as they are paying billions in grants and telling the uneducated blacks that they will not get grants with another party in power.
The opposition must get to this uneducated population to explain the grants will continue with a different government with a better chance of increasing as the so called comrades are busy stealing government's money . South Africa needs a better opposition as well.
At least Zambia is a transformed country
Hi Everybody. I do believe we have exciting times ahead of us.
As usual we have to guess when ,how ,etc .It would be nice if Leon posted a photograph of a new working modular for the copper units on the web site as soon as he can.
Maybe with all the complaints of bad communication he will take the above into account.I certainly hope so!
The only reason you are asking the question is that copper production has been dismal to date .They work in South Africa !
As a thoughtful investor I must believe they will work since Leon MUST have convinced both OLD & NEW investors that they do.
Also the new copper partner would never have got involved with Jubilee if they thought they would not work.
Time to stop doubting and start believing.
Happydays
To me there is a very simple answer to your question
YES !
My reasons
(1) They work in South Africa with chrome and PGM'S
(2) While I agree that Leon must prove that they work with copper he has in fact explained the concept to Slater, his advisors and now the new investors who are all no mugs so I chose to believe that they are effective.
After the disappointments of the past it is easy to doubt Leon BUT the evidence clearly shows that the modular s will work .
It is time to believe that we LTH are on to a brilliant investment
I do think Jubilee need new advisors .The 2nd RNS was in fact good news . Why could the RNS not explain why the placement was necessary as Leon has now done in a new interview and why could the first RNS not mention the placement which I am sure would have been received differently if well explained.
Frog
Too old now. I also do not know English law but I am sure that a shareholder can get the company to pass a resolution that directors salaries should be reviewed and adjusted downwards until such time as the promised production in copper is met.
The BOD do not deserve the big salaries they are getting until there is proof that all the promises made on fancy copper profits are achieved.I have not yet given up on the company but I feel strongly that the directors should suffer the same pain as shareholders are now feeling
Northman
Look who are getting the shares at 5.5 p. That I believe will tell the real story.
I agree with concerned posters that Leon is treating us as MUGS. It is time to tell the BOD that they work for all the shareholders and the false promises must stop
Tellysong
Of course you are right.I believe shareholders have had enough of Leon's promises.
The point is the issue of extra shares has to be passed by shareholders at a general meeting.
I believe the resolution should only be passed IF Leon can explain the real reason for the placing.
LT shareholders have given Leon plenty of support and if the feeling is that Leon has been lying to us it is time to vote down the resolution and perhaps replace board members
I believe the placing is to reward Slater for loyalty as I expect they will be offered the greater part of the shares being placed,
It is not all gloom and doom as if the copper becomes as big as I believe it will, the extra shares will be meaningless.
Also have the present shareholders noticed that extra profits are coming from chrome and PGM'S as prices continue to rise.
Yes it is disappointing but the point is still whether Jubilee will grow into a billion $ company.My knee jerk reaction was to sell but on giving it further consideration I have decided to continue remaining positive.Will have to wait a little longer to see the share price recover