Member Info for dorfan01

Sorry my previous post came through twice
Mickie I can tell you from a reliable source that a J/V in Cypress is extremely likely and on the first three sites in Cypress the expected profits that Jubilee will share will exceed 20 Million pounds.
I am not certain but there could be as many as 20 sites in Cypress

Homey Jubilee have built a massive plant adjacent to Inyoni 1 which I believe was ready to run last month (when Leon gives interviews he sits in between photographs of Inyoni 1 and Inyoni 2 )where both plants can be clearly seen and the one thing
I did see on a RNS was that a new Windsor 8 started producing from October 2020 so must have missed production from the 1stJuly 2020 till some time in October 2020.
I suggest you revise your figures I am sure you will be pleasantly surprised.
As I value your knowledge if I am right could you message your revised figures

Homey Jubilee have built a massive plant adjacent to Inyoni 1 which I believe was ready to run last month (when Leon gives interviews he sits in between photographs of Inyoni 1 and Inyoni 2 )where both plants can be clearly seen and the one thing
I did see on a RNS was that a new Windsor 8 started producing from October 2020 so must have missed production from the 1stJuly 2020 till some time in October 2020.
I suggest you revise your figures I am sure you will be pleasantly surprised.
As I value your knowledge if I am right could you message your revised figures

Homey are you saying that the old plant CInyoni 1) which has now been adjusted to increase our PGM capacity and with the new plant (Inyoni 2) , and the fact in last years figures we only had 7 or 8 month production from our second Windsor plant we will have less capacity to produce PGM's as our J/V with Northam has ceased.
I know we have problems with RNS announcements and the board has never given us important facts about capacity figures but I will bet you all my JLP(JBL) shares your figure can never be correct.
While I wish the quality of the RNS would improve I do have faith that Leon would never have adjusted Inyoni 1 and built Inyoni 2 without increasing PGM production dramatically or Homey is there something I have missed.

Jlpp The depressing part of the DCM saga is the silence of the directors. I see the fight was over tailings considered to be worth R190 Million , so if share holders are selling because of the loss of the court case it may be well to remember that operating profit this year alone exceeded R1.4 Billion so is not the end of the world for the company.
I must also believe that the applicant cannot extract value without help from Jubilee so I would expect there may still be some talking to be done between the parties.
Should we not expect a RNS from Leon immediately to tell us what the boards intention is moving forward .
This situation is part of the problem highlighted by this discussion group that the RNS's need to done in a more professional manner with fuller disclosure of all aspects of the company's operations

Mickyspot on.
It is such a good story why not spell it out with numbers in the RNS . Even for accountants the information is not good enough to calculate expected profits.
I am sure that the institutional investors would not have invested unless had the full story. Us private investors also deserve to know the full story.

Sumoskier
As a long time investor I am sure what is causing the slide is uncertainty. The market hates uncertainty and until the RNS that Jubilee issues tells the full story the share price will not achieve what is it's fair value.
All of us are strong supporters of Jubilee but we are floundering in a lack of information.How much pgm's and copper will Jubilee produce this year? What about Cypress? Have we started trucking material from the Eastern Limb? When does the Zinc production kick in? etc?
What Jubilee needs is to employ is a good financial person that can give the market information and create certainty

Thank You Mogli
On your assumptions copper earnings may get close to pgm earnings in year 2024 so hopefully may exceed in 2025 and Homey I did hear potential earnings.
I can only hope we have better updates from the company,than in the past, as I see the share price struggling which means that shareholders are not impressed with promises and may only react to announced earnings.

The most interesting statement that came out of the interview was Leon saying that he expects the earnings from copper(and I presume cobalt) will surpass the pgm earnings.
Given that I expect in year 2022 that our pgm earnings of Jubilee will certainly exceed those of 2021 by a wide margin(we have far more capacity) the total earnings will be mind boggling.
While I don't doubt Leon words, in truth I am having difficulty in calculating how copper earnings can exceed pgm earnings next year.Maybe he means by the 2025 tax year or am I missing something.
Has anybody tried to calculate the earnings from copper in the next few years, and if they have, could they pass over their workings .
I feel we do not have enough information to do an accurate assessment of copper and cobalt earnings even this year.

Homey I do believe that the shareholders have the right to be upset,and I admit to being upset myself from time to time as I am certain the communication to shareholders is not the greatest.Leon as CEO is doing a great job with what he does best, and is an extremely busy executive so I make allowances.I sent an email to Leon expressing my concern with WH Ireland brokers note when they came up with 1.9 earnings for the year and got no reply. My son sent an email about better communication and got no reply and of course your question on increased chrome profits is valid.
Perhaps as shareholders we can voice our frustration at the AGM and if I am able I will do so.

I agree with gotreal about all the negative posts I am reading.All of you who don't trust Leon and/or Colin why not sell and move on.
Those of you who keep complaining about Colin's cannon do not have a clue about how to build a company from virtual insolvency. That Jubilee has done so well is thanks to Colin's cannon.
I should know because I was known as Jack's cannon when I increased the share capital of Merafe (a public company in South Africa) from 32 Million to 2.5 Billion . The difference now is that from a market cap of R1.2 million it now has a market cap of many billions and has just declared an interim dividend of 7c.(the share was worth 4c when my new directors took over. Jobs were created and the country has received billions of rands in foreign exchange.
I mention the Merafe history as it is so close to the history of Jubilee, so I know what can be done with a company and IS being done by THE JUBILEE METALS GROUP.
I suggest negativity has no place in the Jubilee.
If you are negative and disagree with the view of most of us on this board as I said just sell and move on.Only time will tell who is right.

Jonah I saw the 75000 ounces but what would be nice to know is a timetable of the build up. Would give me a better idea of growth of the company. Jubilee at present produces pgm's at Inyoni 1(if alterations completed) and Windsor 2.
When Inyoni 2 is ready to go I presume Jubilee will be able to produce pgm's from this plant.
How much pgm's can be produced from each plant would be nice to know.
Likewise with copper(cobalt) which information is a bit scanty. 10000 tonnes per annum was mentioned but so was 25000 tonnes .Again a time table would be nice

hoke that is a very good question and I suggest shareholders send Leon an email asking him what is our likely production of pgm's in 2022 tax year. I believe we need an RNS giving details of capacity for both pgm's and copper.
To date we have only been advised on chrome production which is not where Jubilee makes it most of its money

Billyboy It was a great discussion, I learned plenty, and now understand the tech used by Jubilee far better, and I too look forward with confidence to Jubilee becoming a household name and a much larger company.
The platinum and gold prices can fall but there will always be a place for Jubilee who are able to produce metals at a far lower price than any mining company.
This fact is a comforting thought

JLP My son phoned and agreed with your explanation that the company did not have the capacity to produce more PGM 's until alterations were made to Inyoni 1 and Inyoni 2 was completed(something I admit I missed)
Is this not in fact a bull point that Jubilee has PGM tailings already produced(stock) so as soon as the capacity issue is sorted Jubilee has a further pile of PGM tailings to process

JLP p Thank you for the explanations . I also consider Jubilee my core holding which makes up over 80% of my holdings and like Warren Buffet I don't believe in having more than 5 shares in my portfolio.
As a person who issued frequent RNS annoucements I always told shareholders as much as I could. I know it was not necessary to include head office costs,depreciation or tax in the RNS but it would have allowed shareholders to make more informed decisions.
I always found that being transparent was the best way forward

Frog I expected the market reaction that we got, as investors reacted to a earnings figure of (pounds) 69,629,000.After all WH Ireland had estimated (pounds) 56,000,000 and eventual share earnings of 1.9p. In all my posts I maintained that their estimate was hopelessly too low as they must have under estimated the steep rise in prices and so it proved.
Investors and present shareholders have in my opinion focused only on the earnings (and to be fair I have to say after an in depth study of the RNS I do have some questions, where I would seek answers from Leon) to the exclusion of future growth which is the main reason why they should be investing in the company.
The answers I seek from Leon are
1 Why the silence on head office costs,depreciation and tax. My calculations using the WH Ireland brokers note as best I can is that earnings will reduce to 58,000,000 pounds giving a per share earning of 2.5p still much better than 1.9p as calculated by WH Ireland
2 In the period July to December production of chrome tailings of 319833 tonnes produced 28157 ounces of PGM'S while in the period January to June 2021 production of chrome tailings of 431390 tonnes produced only 21975 ounces of PGM,S . It was only the steep rise in prices that allowed Jubilee to earn an extra 10.071 million pounds .What is the reason for the % drop of PGM's in the second period ,as it is clear to me that price increases was the main reason for good earnings.
3 I was a trifle upset the with the production of only 2026 tonnes of copper tailings and would like Leon to give a timetable as to the expected ramp up of copper and cobalt production.
I am still positive that Jubilee will continue to show massive growth,and having met Leon personally and having the upmost faith in his ability, I am in for the long haul

Frogboy Quite a lot to digest .
I will do a more thorough investigation and post my thoughts over the week end

The following email was sent to Leon today by my son Bryan.
The words are his
Hi Leon
From the RNS of 9th August 2019
Jubilee Metals Group ("Jubilee" or the "Company")
The AIM and ALTX traded metals processing company,is pleased to announce its operational results for the six month period ended 30 June 2019 ("H1 2019"),in line with the Board's decision,as previously reported,to present a consolidated operational and financial review on a six monthly period while continuing with a MORE(my emphasis) frequent project updates.
Quite frankly I believe that the Board have not fulfilled their promise in regard to more frequent project updates which is most disappointing from a personal perspective.Why there have not been more project updates confounds me,as the Board can and should be extremely proud of what has been achieved thus far.
Let me be clear,that I have no issue with the delay of financial numbers and,or,when they come out.I do understand that they need to be correct.
What I am taking aim at specifically,is that there are numerous projects underway,in pandemic times,and as shareholders we should be entitled to understand where the company is holding at,specifically relating to the projects on the go and in line with the Boards's decision to update shareholders.
Over the years of investing,I have come to understand that a lack of information is perceived as bad by the investing community,and generally has an adverse effect on the Company's share price.While share price is not where the focus of Director's should be,it certainly comes into play in terms of IAS 36 (impairment of assets) as well as when it comes to issuing script for possible mergers and or acquisitions. This may not apply in the current year,but may an issue in future years.
Honesty and transparency are ,in my opinion, also part of the "Jubilee way"
AS per my previous e-mail,please would you advise whether you intend to issue a project update and a consolidated operational review or merely a consolidated operational and financial review, and when you envisage making such an announcement .
Regards
Bryan Dorfan

A July operations update would be far more important to me than last years earnings, so I would welcome the delayed RNS if these figures are disclosed, when the RNS is eventually issued.
So hoping you are right Steelbee