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SEIS
Yes it is all about copper. Leon has done very well by changing old contracts and entering new contracts where chrome is concerned and production has soared. More importantly he has achieved.and can be seen to have achieved wonderful results with chrome, It is about proving that he can do the same with with copper which has to date been a bit of a damp squid .The PROOF is what is needed to make the share fly.That is why it is all about copper.
Mikie
All that must happen now is for copper production to rise every month which I believe it will undoubtedly do, to see the same rise in the share price.Like you I am exceedingly bullish on Jubilee's Zambian operations
So called investors are insane buying bidcoin which generates no income.I tried to calculate the earnings of Jubilee if all Leon's promises on copper materialize but gave up as there were too many 000's. If only half his promises are kept then there are slightly less 000's but Jubilee will still be one the most profitable companies on both stock exchanges. Jubilee is like a coiled spring waiting to be released. Will Jubilee be able to produce the copper promised. Slater thinks so as do the new Arab partners .Why are there so many doubters?
Thanks gotreal it is a great article on Jubilee's progress.I suppose we still need to exercise patience as the market seems not to have got the Jubilee story right. I hope that eventually we will be rewarded
Sumoskier
You are correct not to expect fireworks until cash in the bank and production figures for both chrome and copper finally dispels the negativity of many investors and some stupid posters on this site.Jubilee is now like a volcano ready to erupt
Interesting that Leon is not trusted by so many shareholders .I agree with Jonah that if I was in Leon's shoes I would certainly not be making optimistic claims so I now believe he is now telling like it is.
There was much to like about what he said, and I for one believe that it is only a matter of time before Jubilee becomes a billion dollar company. You pay your money and make your choice.I know what I choose !
Kalan
I try to see the facts as they are.In my opinion you have made a few good points but I must question why you are ignoring the proven production of chrome and PGM 'S .Jubilee is or should not be cash flow negative as you stated in your last post and I for one is disappointed that you have overlooked proven chrome and PGM production where they are now making a lot more from chrome and are one of the few PGM producers that are still making a profit .You are not wrong that Jubilee must still show decent profits on copper but dead wrong on chrome and PGM'S
I agree that the faster we get some copper news the better.Unfortunately with the bad history of communications by the company no news now equates to bad news but I am puzzled that there were 3 large deals after 16.35.17 and the LSE does not acknowledge the sales How can the range be 5.6-5.7 with deals being done at 5.8 &5.81 after 16.35.17.
I would be pleased if somebody could enlighten me
Mickie
I am looking forward to an announcement of production figures . Even the biggest pessimists will be surprised by the revenue being produced. I am afraid that at this stage it is a waiting game until increased production is known.
The company has been extremely fortunate that the copper price and chrome price have been doing so well and with the increased PGM basket we are definitely invested in the right company
Happydays
What today's share price shows is just how little the market trusts Leon. I am afraid that we will have to wait for results to hopefully restore the trust.My take on the situation is that Leon has since the electricity and water fiasco done very good deals and for that reason I remain hopeful that Jubilee will grow into a very successful company, I have paid my money and made my choice. I too am very frustrated with what is going on at the moment but I believe that those of us who can exercise a degree of patience will eventually be rewarded
Hi Edzi & Seis
With so many astute tipsters tipping the share as a buy it makes perfect sense that the 9 million options are being sold forward and that could be holding back the share price.Option holders are in the business of selling options at a profit and most are not interested in becoming LTH.
The price they paid for the options suggest it was at a time that Jubilee was struggling to keep the lights on.
In the long run the options are nothing to fret about
JLP positive
Nobody knows more than me about Merafe (after all I started the company) BUT do JLP shareholders know that Merafe earns only slightly more than 20% of the profits with Glencore in the J/V earning nearly 80% of the profits. That Merafe is doing so well is due only to the price of chrome.Jubilee are getting into a position to earn more than 20% of the profits.
The other factor is that in growing the company we also needed to issue shares and Merafe shares exceed 1.5 billion.
With copper Jubilee will do well if they can keep their share capital close to to the present amount .
All those posters who continuously knock Leon should really think before they post. Yes Leon has made mistakes BUT when it comes to deals he really has performed miracles.
Some examples are 1 The original deal with Hernic was not great but he changed that 2 The deal which got Jubilee into Zambia was originally shocking but he changed that.3 He has since then done great deals in South Africa and Zambia.
I for one am extremely happy with Leon as CEO