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Hi Gotreal
Over my investing career I have got used to the Bushy's who do serve a purpose by making the braver investor rich.Of course you are right that the share price factors in NO Copper or Cobalt as well as NO increased PGM and Chrome production. Having said that what is so frustrating is that most investors follow the herd (Give a dog a bad name)and future prospects are ignored. We must reluctantly wait until Jubilee produces the profits which we know are coming.
It may take 6 months or even a year for Jubilee to reward it's share holders but as day follows night it will happen. All we need to do is exercise patience which admittedly is extremely difficult to do when we see so many copper and PGM companies react to the increased metal prices while Jubilee does not.
I look forward to the day when I will reverse my filter on Bushy to tell him NEXT TIME listen to investors who are cleverer than him.
Hi Gotreal
Jubilee has a problem to educate investors that the company is a serious copper producer.Until Leon can convince PI'S that in the not to distant future the claim of 25000 tons + will be achievable we will continue to have a frustrating low share price.
Gotreal With what we have in the pipeline I believe Jubilee will be the 3rd biggest producer of chrome.Only Samancor & Glencore will produce more.In South Africa there are a number small producers but since Samancor took over Hernic I don't know of any other producer that produces more than Jubilee
Seis
I am personally very bullish on PGM's and expect we will see a massive improvement in price.In South Africa load shedding is still a big problem and all platinum miners (Anglo,Impala,Northam ,Royal Bafokeng & Sibanye) have a serious problem when they need to send miners underground so I expect a drop in supply, which will help improve prices.
A lot of the price drop resulted from a strong dollar and hopefully the drop in pound and rand terms will be less severe than the drop in the dollar price.
I need to look at the actual earnings to judge how severely Jubilee has been impacted.
Another thought-Jubilee has done a great new deal in South Africa and the increased earnings from chrome and PGM 's are more than sufficient to justify a higher share price(especially in Rand terms)
So the problems of the slow growth from copper earnings which some investors use as an excuse for the low share price is in fact nonsense.
Only TIME will tell if those of us who are bullish of the share ( which includes the institutions) have been justified to keep faith with the company
Hi Gotreal
What is happening on the JSE &LSE with the Jubilee share price is typical of a market led by idiots like some posters on this site who have no interest in the copper price which is soaring or with PGM's which are recovering nicely. It is really a frightened investor who unfortunately has lost all faith in Leon with a certain justification as Leon has hidden too much from investors. That is the market and the brave will now have a chance to make money and benefit from Leon's earlier blunders
Hi Frog Seis JLPP Micky
I definitely was not mistaken Slater actually confirmed that Leon had visited him and had been so enthusiastic about the deal that Slater decided to buy his last lot of shares at 16p .I am sure there must be a deal in the pipeline.
Shuvlin
My sentiments exactly especially we know the new J/V will be earnings positive and furthermore look at improvements in price of ALL metals Jubilee produces. My view of investors on stock exchanges was never high but has now sunk to a new low. To buy Jubilee at these prices is definitely a no brainier. I feel the share is being punished for past mistakes which has little to do with future profits
Extremely odd on one of the best days for PGM'S the share price has dropped. It just goes to show how distrustful the market is of Leon.It was obviously a HUGE mistake for the company not to advise shareholders of the water and load shedding problems.I only hope the directors will NEVER make that mistake again
Thanks Gotreal- For us poor suckers in South Africa the only benefit we can get is to invest in a company earning dollars such as Jubilee as the rand is now 24.14 to the pound and 18.71 to the dollar.
Going back to Merafe in the year 2000 in working out the profitability we worked out at rand price of 7 to the $ the company would be highly profitable. With the chrome price so high,and with the new J/V announced Jubilee should do very well with chrome. I am convinced that the market has hopelessly under rated the latest RNS
Orion
I have filtered bushy but with your comments that Bushy got closer with his forecast of the Jubilee share price you are obviously in the same camp as you should know the reason why the share price performed badly if you had done any research on the company.
What matters now is not in the past but in the future.THAT is the only decision you need to make.
HI Mickie
While I know little about progress in Zambia,what I do know is that Leon has a good relationship with the Zambian authorities so I would not rule out any deal in Zambia especially in regard to Mopani ,but what has made me more bullish about the company is the deal they HAVE made in South Africa which especially if the J/V has been made with Glencore .
I certainly believe the market has hopelessly under rated the new J/V and from what is going on in South Africa I expect PGM'S will soon come into their own and prices will not stay subdued for very much longer.
Yes Mickie I agree exciting times ahead
Orion
I was one of Leon's fearsome critics when he failed to tell us of the problems he was having with load shedding and water and kept painting a wonderful picture of Jubilee's growth.Both Ollie and Leon have admitted that they were wrong to have done so and as far as I am concerned (unless PROVEN otherwise) that situation is behind us.
Unlike Bushy and you I have done hours of homework on the company and since the fiasco the only RNS"S have been positive so I suggest you either wait patiently for more news or sell up(sell short if you want-I hope Bushy has the guts to do so with all his negatives about the company)and we shall only see who was right or wrong about the company in the future .I believe I will be richer and Bushy poorer in a years time.
Exercise some patience and join those of us that are bullish and be suitably rewarded or get the hell out the company.
Sharkie
IS Glencore the new JV partner of Jubilee. If so the future looks bright indeed.At the time Merafe did the deal with Glencore some 20 years ago the company already had vast chrome tailings and was just starting it's project LION which was about to increase chrome production substantially . I would now estimate that together with new production,they would have sufficient tailings to last a life time.
Jubilee have negotiated a better deal than they could with Samancor so I believe the market has under estimated just how important his deal is!