Member Info for dorfan01

As I am in South Africa and will not be able to attend the meeting I would like to give my proxy to somebody with an open mind that can take a decision after hearing reasons why this meeting was called so urgently.
I have to believe there was a good reason

Frogboy
I agree you need to know what you are voting for. PI must try and get answers at the meeting
Craig
With Slater holdings at close to 300 Million shares I have no doubt is in phone contact with Leon.
Sorry Craig but that is the way it works.Not quite insider trading but Slater certainly has more knowledge than us PI's

I a m repeating what I said in my last post.
I have not only SAID but have EXPERIENCED that dilution is sometimes necessary and at times greatly earnings enhancing.
To date Jubilee's dilution falls into both categories.Homey if you want to take me up on that statement you are welcome to do so.
As for the meeting I will take my cue from Slaters who I have doubt has more information as to reasons then we do.

I have not only said but have experienced that dilution is sometimes necessary at at times greatly earnings enhancing.
I think the RNS was badly thought out without a production and earnings reports for the period from 1st January 2022 to date but Seis has said it all.Jubilee are in the right metals at the right time and as market leaders in extracting metals from waste in an exciting new industry which has a chance to grow beyond all our imaginations.
As private investors we have the right to be vexed by PR department (if they have one) who have continuously broken their word about share dilution, but is it a reason to sell the share.
I think not

Homey
Of course you are correct. It feels like the board are trying to shoot themselves in the foot bringing out an RNS which they know will be treated with some scepticism after all their broken promises and more importantly giving us PI's no information on the last 3 months trading which is the more important information to divulge. It seems their PI department is virtually non existent unless they have a policy of trying to keep the share price as low as possible (Any reason escapes me)
Although while the thought of selling, because of this weakness the company is displaying, has crossed my mind the future prospects seem too good,in a new industry which the company is reputed to be the best.
Also the company will be producing all the right metals at the right time with massive world wide opportunities to increase production.
Weighing the two scenarios up I remain a large shareholder.

Frogboy
While I agree with Homey and almost everyone else posting on this site that when it comes to disclosure JLP get things horribly wrong BUT we have a meeting coming up and if we are not told more, we should all vote NO to to the resolution Dilution per se is great if it enhances earnings which hopefully this is what it is all about, and those who express negativity to all dilution are ridiculously wrong and have not thought the process through.
As chairman of Merafe during my term of office the company issued 2.5 billion shares and I am happy to say that all who participated in the so called dilution made money and today from a market cap of R6.4 million the company is worth nearly R5 billion. So much for dilution being BAD.
Frogboy if you trust Leon (I do) hang in there

Makes me think something big in the pipeline.
Taking my usual optimistic stance

Living in South Africa and having been involved in the mining of chrome, the one POSITIVE, is the end of the Zuma era, where widespread corruption was rife.
Some members of the ANC saw their election to the head of various government SOE 'S as a ticket to get on the gravy train.
This led to electricity and transport problems which together with trade unions made the mining industry increasingly problematic.
The present president is,in my opinion more realistic and knows that for South to succeed as a country, the mining industry is perhaps the most important passport to a better future ,and now needs to be made more attractive to both local and overseas investors.
Like in Zambia I expect to see great improvement in the governments relationship with the mining industry.
After all surely government must have noticed that their main source of taxes is mining related
I hope I am right,to give the president the brains to see the way forward, otherwise the country is heading into oblivion

That is only part of it. The trade unions are a nightmare .

Tricky
Exactly . I notice an investor on the other web site can't understand why in view of the poor earnings announced for the last six months the share is shooting up (obviously one of those shareholders that do not do their own research into the reason for the drop in earnings or the improved profits now expected).I suspect it may be bushy having moved to the web site.and contributing under another name,

Like most articles the writer has not done his homework on earnings figures.He should at least mentioned the stoppage of Inyoni for upgrades and at least adjust future earning upwards.
That he sees a positive future despite the above omission shows just how under valued the share price is

Dividendfinder
Believe me there is NO manipulation of price.The major problem at the moment is the first drop in profits which nearly halved compared to 2021. Some investors in Jubilee know very little about the company and think drop in profits is a sign of the future to come.The reason for the drop is disregarded (the PGM production fell due to the plant responsible for that production being only worked for 41% of the time during that period due to adjustments made to the plant in order to increase future production) With that out the way production will quickly improve to make up the short production)
Jubilee is being valued on present earnings and not on future earnings,
That is all it is

Happydays
I replied to your complaints under LC Messages. You are wrong to complain at this time.
If nothing is clarified by the company by the end of April only then would your comments have some credit.

happydays and charles
As I type it is the 1st of April and the 3rd Quarter of year 2022 has just finished.I too have been critical about lack of communication with shareholders from the company ,but in all fairness give them a chance.
They must need some time to get their production and earnings figures together and hopefully we will be told about progress some time in April.
In the mean time take the opportunity to buy shares as shareholders with the same impatience you are showing are selling their shares.

Seis Nav
I am not sure if smelter % should be brought into the calculation.The RNS stated that Inyoni can produce 44000 ounces of PGM's pa which equals 22000 ounces per half year so that is the production I used for Inyoni
For the first time the RNS stipulates that the production from ore on the Western Limb produces 16% palladium and 7% rhodium and from the East Limb 20% palladium and 12% rhodium.On both limbs I believe about 2% gold is produced .I ignore iridium and osmium as the amount produced is minimal but at their prices any production can only improve the basket prices.
Doing the sums I have production of platinum on the western limb at 75% and 66% on the eastern limb.

If I am incorrect I am happy to change my spreadsheet.

Seis Nav
In fact there was a lot more information in the last RNS than Jubilee normally discloses.
By my calculations at present day prices the PGM basket from West Limb is $2483 and from the East Limb $3426. Inyoni as announced, can produce 44000 ounces of Pgm's per annum and contracts with East Limb producers is announced to produce 14500 ounces per annum .This suggests to me that the 22000 ounces that should produced by Inyoni this half year will be made up of 14750 ounces from the Western Limb and 7250 ounces from the Eastern Limb. If that is correct earnings from the Western Limb will be $28 357 760 and from the Eastern wing $18 879 000 a total of $47 236 760.
Of course Jubilee's 60% interest in Windsor profits is still to be added.Also the increase in chrome and copper profits should allowJubilee earnings in 2022 to be close to ,or exceed ,earnings registered in 2021 despite the stoppages.2023 earnings will be the real test as to the expected growth.
Of course Tjate, Cypress a second plant on the East Limb,or any further deals could see growth exploding.
I remain hopeful.

Homey
I believe your comments are fair but I will only apologize if I am wrong. I still expect year end earnings for the year ended June 2022 to exceed earnings for the year ended June 2021 despite the bad first 6 months due to the Inyoni closure which should improve PGM and Chrome earnings going forward .Copper earnings should be higher in this period as well.

I am now convinced that some shareholders in JLP have no idea what the company is all about.Did they expect Jubilee to increase profits while Inyoni stood idle for so many months in order to effect changes to increase production and profits in both Chrome and PGM. The reaction to the RNS astounds me but I am happy to increase my holdings at these prices.
We will see who is right after the publication of the 2023 earnings
There is NO better buy on both the LSE & JSE

Hi Gotreal
We unlike plathunter know at that time they borrowed the money under duress to get into copper etc which was a massive growth opportunity for Jubilee.
I am trying to say as a LTH shareholder that I would be quite happy if they minimised that dilution by buying back all those shares issued to do the deal ,at present prices

Monty Interims if they come can only be in April. Results for the 3 months only finishes the end of March